If you receive an engagement ring from your fiance, you can ask him how much it's worth if you really want to know. But if you are given a ring by a family member, perhaps after a relative has died, it's important to know the value of the piece of jewelry. Knowing the ring's value is integral if you plan to sell it, but it's also important to know its value if you plan to insure the ring.
Call a number of jewelers, pawn shops and used jewelry stores in your area and ask each if it offers a free ring appraisal service. Make a list of the stores that will appraise your ring for free.
Visit each one of the stores on your list to get appraisals for your ring. When you arrive at the store, explain the situation of your ring and ask to have it appraised. If you plan to keep the ring but are just curious about its value, avoid divulging this detail. If a dealer thinks you may sell the ring, he'll be more apt to appraise it.
Note all the values provided for the ring and compile an approximate average. If you visit a reputable jeweler, he may be most likely to give you a true value on the ring.
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