How much would a 3 carat diamond ring be worth if bought for 1500 in 1950?

Best practices dictate that with a stone of this size, you hire a certified gemologist to document the 4 Cs for this diamond, and test the metal of the ring and include it in the certificate. Then you will have a base of reference for its worth.

Regardless of its age, previous purchase price and other points of history about a diamond, each stone is valued by its carat weight, its cut, its colour and its clarity.

The exception to this guideline is documented provenance: if a piece of jewelery or a diamond has been owned by royalty, a famous person, even a despot, its value may be enhanced.