10K Masonic Ring with Diamond - Appraisal & Value

Question
My mother gave me an old ring she has held onto for several years - not a family heirloom or of particular sentimental value. Turns out to be a 32nd-degree 10k gold masonic ring with a 1.13 ct J-color diamond in an old, round-cut style. Beautiful stone to look at. Unofficially, I've been told by one jeweler it is likely worth 3-4 thousand dollars. Another's assistant told me their comparable diamonds are priced at $4400 - that was before the jeweler himself looked at the ring and offered me $1200 cash for it. Obviously, the band itself is worth very little.

I understand I'm not likely to get retail value for it, but is there any way for a lay person such as myself to get a decent cash price for this ring? $3000 would seem fair with the buyer still able to turn a fair profit. Pie in the sky?

I don't know if there would be any point to having the ring formally appraised since I don't plan to keep it or insure it. Any guidance would be most appreciated.

Answer
Hi Patrick,

Don't discount the value of the ring itself. At $2000 an ounce 10K gold is still worth about $800 an ounce, or about $26 a gram.

Your right that you will get no where near retail for it but you could put it on Ebay and get more than the $1200 offer. An appraisal would cost in the neighborhood of $150 but could lend a lot of credence to the sale. One from a graduate gemologist is best but even a jewelrs estimate would be better than nothing. As long as the stone is identified as a diamond and graded it might be worth the investment. I would check out the listings and sales on Ebay and go from there. Good Luck and thanks for asking,

Peter