PR Log (Press Release) –
Feb 12, 2010 – On June 26-27 2009, an 18kt gold ring with a lapis lazuli oval stone flanked in fourteen brilliant diamonds belonging to the late Elvis Presley went up to auction with an estimated value of $20,000 to $40,000. Despite the uncertainty of the world economy, jewelry buyers are still flocking to auction, and many times paying over market value for antique diamond rings due to their rarity and the increasing value of these collectibles in the market today.
Diamond rings are typically given antique distinction when aged over fifty years, but these definitions may vary in age requirement. In the early 19th century, before the discovery of diamonds in South Africa in 1867, diamonds were rarely used in jewelry unlike their traditional use in engagement rings today. Diamonds were considered a demonstration of wealth, and therefore diamond rings made earlier than the mid-nineteenth century will be difficult to come by in today's market. Even after diamonds became more available, other gemstones were sought in place for affordability and style trends, so finding authentic antique diamond rings in pristine condition is becoming increasingly difficult.
Approximately twenty years ago, jewelry dealers would take old diamonds and re-cut them into more modern styles for the best profit margin. Antique's Roadshow appraiser, Joyce Jonas, responds to the radical changes in recent trends. “About seven or eight years ago, women began to see the beautiful brilliance in these older stones...they liked the beautiful, delicate, openwork mountings as opposed to what we traditionally see. So, the price now on these stones has gone up in value where they went down before.”
Due to the climb in market price of antique diamond rings, those pieces with wonderful diamond color and clarity are selling in the tens of thousands of dollars. The more unique, intricate, and even unusual of handmade designs means greater value and demand. In the same respect, the market for new diamond rings inspired by vintage design is also on the rise. Couples looking for a unique engagement ring are able to get the same craftsmanship style at their local jewelers without actually getting an antique. As 2010 progresses, antique rings are still on a market rise, and the right find may bring stories of past lives, historical fashion trends, and possibly, a greater financial return.
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