Kim Kardashian divorce shocker: What happens to the ring?
With Kim Kardashian filing for divorce after only 72 days of marriage, it remains to be seen what will happen with her 20.5 carat engagement ring.
While her ring is estimated to have cost Kris Humphries a cool $2 million, the resale value of the immense rock could be considerably less says Andrew Streyer, director of evaluations at Pawngo.com.
Like many rings, there are several factors that contribute to the resale value of a ring, ranging from the cuts, clarity and size of the diamonds.
"Kris Humphries paid $2 million dollars for Kim's ring but it's likely that when being sold, the ring would sell for considerably less," Streyger says.
For people who do not have millions of dollars to drop on engagement rings, it's important for consumers to focus their attentions on diamond rings that will not greatly depreciate in value in the event of a resale.
The following points, according to Streyger, are some things to keep in mind when buying a diamond ring that will best maintain its value:
- Buying a round diamond will make it easier to sell, as classic shapes hold their value more consistently.
- Getting a stone that's certified helps it maintain value versus "uncerted" stones - Make sure to price around, and pay attention to those "color" and "clarity" values, they affect the price significantly when buying AND selling.
- Though stones over one carat are always in demand, buying a stone that's slightly under one carat by a few points may net you a great deal, just make sure you aren't paying too much!
- While buying a "clarity enhanced" stone might lower the price you pay significantly, they have little to no resale value once they leave a jewelry store. Avoid these diamonds, and make sure you ask your jeweler to disclose if a diamond has been treated in any way. "Clarity enhanced" diamonds have undergone treatments like "laser drilling," which involves drilling into black spots in diamonds and bleaching them out, or "fracture filling" where surface reaching inclusions are filled with a glass that solidifies clear and makes a diamond appear cleaner than it really is. These are easily detectable, and can lower a diamond's value by 80 percent or more.
Tell us your stories -- have you had to "get rid of the ring" after the marriage broke up? How did you handle it?
Image courtesy of People