My longtime partner proposed to me a few years ago at Christmas. Although the relationship didn’t last, the ring he proposed to me with is still in my life.
He said he could keep it despite the breakdown of our relationship. I wonder how much it’s worth.
I really want to sell it and I think since it’s Christmas, maybe now is the best time to flog it.
It is a 1 carat lab grown diamond and the color is F with VVS1 clarity. I’m told the quality is amazing, so I’m hoping it’s worth a decent amount. Ellie, via email.
Dan Hatfield, our resident valuation expert, answers: When it comes to diamonds, I’m an unapologetic magpie.
I trained as a diamond grader in Antwerp, the diamond capital, studying diamonds in all shapes, sizes and colours.
Even now, as a lender who deals with them daily, I never tire of their appeal.
Each one is as unique as a snowflake and valuing them is both an art and a science, but valuing them isn’t as simple as you might think.
It all comes down to the famous “four C’s” which represent cut, clarity, color and carat;
Lab Created: My ‘diamond’ ring came from an engagement that didn’t last. Is it worth a lot?
1. cut
This is the one that most people don’t understand. It’s not the shape (round, oval, pear) but the quality of the cut: how well it has been carved, faceted and polished.
A well-cut diamond bounces light like a disco ball, giving it that irresistible shine. Unfortunately, you haven’t shared this with me, so I’ll have to focus on the other C’s.
2. Clarity
This measures how “clean” the diamond is of internal imperfections or inclusions.
It’s done well here: its VVS1 clarity is near the top of the scale, just one step below “Internally Flawless.”
This tells me that your diamond is as close to perfection as many of us will ever see.
3. Color
The color scale runs from D (completely colorless) to Z (a not-so-pretty yellowish tone).
Your diamond is an ‘F’, still firmly in the ‘colorless’ camp. This is prime real estate in the world of diamonds.
4. carats
A 1 carat weight is the biggest crowd pleaser; big, bold and the size most people think of when they dream of an engagement ring.
If this were a natural diamond, you would do well to open the champagne right now, but your diamond has been lab-grown, which greatly affects the price.
What is a lab grown diamond?
Lab-grown diamonds are chemically and visually identical to a natural diamond. They shine with the same intensity and in a display case even an expert could be fooled, but the market does not value them in the same way.
Natural diamonds are unique wonders born from intense heat and pressure deep within the earth, which can often be 3 billion years old. While lab-grown diamonds are created in machines.
When lab-grown diamonds first hit the market in 2015, there was talk that they were “green” and sold for about 90 percent of the cost of their natural counterpart.
Celebrities like Emma Watson and Meghan Markle were seen wearing them, and suddenly it seemed like lab-grown diamonds were the future.
If you bought one back then, you may have felt quite smug, with all the appearance of luxury without the astronomical bill.
But if we fast forward to 2024, the bubble burst. Lab-grown diamonds are everywhere and we now know that they are not as environmentally friendly as previously thought due to the large amount of energy required to create them.
As more producers flood the market, prices plummet like a bad soufflé.
Research from global jewelry analysis firm Tenoris reported a 20 percent drop in prices for lab-grown products in 2023 and this continued into 2024.
To put it bluntly, lab-grown diamonds are a terrible investment. It’s a painful truth that I’ve had to convey to too many people who thought they were being clever when they first came to market.
As we know, her engagement ring features a 1 carat diamond with F color and VVS1 clarity which, if natural, would be a stunning gem, but since it is grown in a lab, it won’t have much resale value.
Looking at the current market, I would estimate that you could sell your ring for around £600, perhaps even up to £1,000 if you could find the right buyer.
This may not seem like much for a whole carat, but it all comes down to supply and demand.
Due to the large volume of lab-grown diamonds on the market, prices are declining rapidly and they do not have the history, mystique or limited supply that make natural diamonds so valuable.
My advice to you would be to sell it now as the market is flooded with buyers looking for gifts and Christmas is usually a season full of offers.
Come January, people’s attention will be focused on paying off their credit card bills rather than spending money on natural or lab-grown diamond rings.
To maximize how much you can earn on your ring, I would choose to sell it to online diamond buyers or specialized jewelry resellers.
High street shops have overheads, meaning they will reduce a bid on how much they can buy it to make a profit.
I’m not sure if I had a figure in mind and although it’s not the price a natural diamond of this quality would command, it’s still a lovely little earner in time for a very merry Christmas.
I’m about to take a break from some holiday cheer, so I just want to thank all my readers who joined me for this. Modern treasures column this year.
I’ll be back with more ratings and money-making tips in 2025, so for now I wish you all a bright Christmas and a jewel-filled New Year.
Send your modern treasures
Dan Hatfield: Our columnist is ready to value your modern treasure
Dan Hatfield is This Morning’s money-making expert and resident lender. It is an international specialist in antiques, jewelry, diamonds and collectibles.
Dan’s first non-fiction book, Money Maker: Unlock Your Money-Making Potential (£16.99, published by Hodder Catalyst) is available now.
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As with everything, if you are looking to sell items and collections, it is wise to get a second and third opinion, not rely solely on Dan’s suggestions.
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