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Gangster’s Diamond ring from the 20s-30s value


Muffinsmom
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I have a ring passed down generations from the 20s-30s that came from my great great (maybe three greats?) uncle winning it from a gangster in a poker game. We have an appraisal from 1984 where it was valued for $6,500 then.  It says “agents 14 carat yellow gold ring containing one YS2 quality diamond weighing appr. 1.25ct.”

Does anyone have an opinion on what it would appraise for now (hasn’t been worn in decades) and how much we could possibly sell it for?

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If you bring it to an appraiser (and you should, if you want any chance of a reliable answer to your questions), remember to make it clear what your purpose is: it's all too common to see people thinking their "appraisal value for insurance replacement purposes" is what they could get when they sell the item.

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13 hours ago, Muffinsmom said:

Does anyone have an opinion on what it would appraise for now (hasn’t been worn in decades) and how much we could possibly sell it for?

 

Good point Davide.  When most people use the term ‘appraise for’ it’s a matter of someone estimating what an item would be expected to cost to replace with another of ‘like kind and quality’ or words to that effect, at retail, new, locally.  That is to say, what a local jeweler would charge to replace it in the case of a loss.  Pay attention to those qualifying words. Estimate. Replace. Retail. New. Local. Whether or not the appraiser is correctly answering that question is unknown, but that has very little to do with what YOU can sell a used one for.

That’s not the only question appraisers can answer, but it’s the most common one.  If you just drop it off at a store and ask for an appraisal without explanation, that’s probably what you’ll get. Even if you get a valid answer, it’s doing you no favors in your situation, and the wrong answer to the wrong question is doubly useless.

 

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Also keep in mind that the replacement value or what the physical ring is worth will be higher if you have any kind of supporting documentation as to its provenance.  Do you know which gangster he won it from?  Was he famous?  Are there any pictures of the gangster wearing this ring?  Without supporting documentation, unfortunately the ring is just worth its physical value with no added historical bonus.

 

 

Edited by LaurentGeorge
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