This is not a princess cut, it is a round brilliant cut stone in a tiffany like knife edge setting.
Altering a ring in size would certainly not increase (nor decrease) the value. However,
once a ring has been bought at retail value you can not usually sell it anywhere near what
you paid for it.
Rings don't increase or decrease in value if resized, but the scrap value can increase if you add metal to enlarge them. And since now you've bought it, you will not get retail for it again. I cannot comment on the value, but that seems expensive for what it appears to be.
Edit: A half carat solitaire from Tiffany and Co. can be acquired for around $4k...
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