Is having a trade-up policy important?

[sapphic]

I''m not sure if USACerted has a lifetime upgrade policy like Whiteflash but USACerted''s prices seem to be lower by a few hundred dollars from a quick look at the PS search results. Is it worthwhile to get the same diamond from a vendor that does lifetime upgrades for a few hundred dollars more?

 

[Maxine]

Do you think you will trade up?????? A lot of people who think they WON''T, end up doing so at some point....especially if they hang around here too long!!!

 

[Kaleigh]

I think a trade up policy is very important. You may think that this is the one, but who knows what you will think down the road. It''s nice to have. Tiffany only allows one upgrade, so I''m done.

 

[abradabra]

If you are hanging out on a diamond message board, the answer is probably yes.

However, it is a personal preference issue. My mother, for example, has had the same quarter carat for almost 35 years and never gave a thought to upgrading. Diamonds aren''t that important to her.

If you are going to a great deal of trouble to find the ever-elusive "perfect stone," it seems like you would be more likely to be interested in an upgrade down the road (especially if you are thinking about it already!). You should talk with the vendors you are interested in purchasing from because buying a diamond isn''t like buying a newspaper--you can negotiate the price a bit. Maybe a vendor that doesn''t normally have an upgrade policy could put something in a contract for you. Maybe a more expensive vendor with an upgrade policy could come down in price.... You never know unless you ask!

 

[Demelza]

I would definitely say yes!! I suppose it could be "dangerous" if you''re obsessive like I am, but I think it''s a wonderful policy to have just in case you get bitten by the upgrade bug. I wish I had an unlimited upgrade policy. It would make making a decision a bit less stressful.

 

[sapphic]

Doing some research I found these policies for the PS vendors:

NiceIce: lifetime with 10% restocking fee
Whiteflash: lifetime
DirtCheap: 5 year with a 20% fee
USACerted: none
GoodOldGold: lifetime. must be $500 greater value (which is nothing)
BlueNile: none

I does seem that maybe it's worthwhile to perhaps pay a few hundred more to buy from these vendors that offer lifetime, if just for a lifetime insurance against an "upgrade bug" or a desire to get a "3c+ diamond".

I do have 2 questions:

1. What happens if you want to upgrade later but don't have an upgrade policy? For example, do PS vendors take diamonds not purchased from them in a trade-up?

2. Are trade-up policies usually with the diamond only?

 

[Kaleigh]

Buy from a vendor that will take back your stone and if there is a restocking fee, or if it has to be $500 dollars more so be it. Most PS vendors will not take a stone they didn''t sell you as a trade in. That''s why the upgrade policy is sooooo important, IMHO. I just purchased an asscher from GOG and I plan on getting a bigger one down the road and I made sure I could trade it in for full value towards my next stone!!!!

 

[dib]

i say yes - unless this ring will have a sentimental value to you and you won''t want to part with it, then why not have the option of trading in. I recently lost a ring and when i went to repace it I decided that i would only consider using a company that offered a trade-in. I know i can get bored with things easily and love knowing i have the option one day to get something new if i want to.

 

[solange]

I think the trade up feature is very important. If you should decide to get a larger stone or make a change, you will have a great deal of difficulty getting anywhere near what you paid if you try to sell or trade it elsewhere.
Have you asked about the Pricescope discount at Whiteflash? Also you might ask if they can come closer to the USA Certed Price.

 

[Lorelei]

I think a trade up policy is a very good thing. These days it seems more people are buying diamonds and are being bitten by the upgrade bug- myself included!

It can indeed be difficult to find " the one" and having the trade in deal makes it much easier to upgrade if you so desire. It gives a lot more flexibility, you never know if one day you might want to do it and it can be very difficult to sell your old diamond and get anywhere near what you paid for it, as the others have said. It seems that many PS ers have been able to upgrade to their dream diamonds with the trade in policies, whereas they might not have been able to do so without it.

 

[IrishEyes]

I agree with everyone else, I really think it is important to have a trade-up policy! I will be getting my upgrade hopefully within a year or so and I''m going with whiteflash - not only because they have great stones for great prices, but also because they offer the lifetime trade-up policy. This is important to me because I know that I will eventually want something even bigger down the road! I would much rather trade in my stone and have to put another 3k or so down, than spend the full amount on a new stone and have the other stone sitting around (not many places will buy a stone that wasn''t purchased from them).

So yes, I think it is very important. but it is entirely up to you. If you are 100 percent sure you won''t want something else down the road, go for it, but unless you have a crystal ball and can see into the future, I would have the option open for you to trade-in later on!!!

 

[lmurden]

The best thing about a trade in policy is that it gives you Options!

Having said that, now that I have the ring of my dream through a new setting with my original engagement ring/promise ring I can''t image upgrading. I want to pass this baby on to my love ones.

 

[dani13]

Question- does GOG lifetime upgrade policy apply to all types of diamonds? Or just certain types? I sort of remember their being certain restrictions?

 

[abradabra]

Date: 8/15/2005 11:36:38 AM
Author: Dani
Question- does GOG lifetime upgrade policy apply to all types of diamonds? Or just certain types? I sort of remember their being certain restrictions?

I believe that the non-H&A rounds (maybe called discount diamonds or something like that) are sold without the lifetime upgrade...

 

[dani13]

I just looked up the policies at GOG, and you are right, it only applies to H& A rounds and squares and princesses. Their buy-back policy only applies to round H & A too. That stinks- a lifetime upgrade is important to me- but I think I may want an ec. Anyone have suggestions of who I should use if I go with an online vendor? Whiteflash? I originally was thinking GOG, but now I am not so sure- I thought they had a lifetime upgrade which was applicable to ALL of their diamonds....

 

[Mara]

For me having a trade up policy is huge. Obviously I am on a mission here to get to 3c at some point, so I''d be screwed if I didn''t work with a vendor who has a trade up policy.

The other thing to factor in is when you plan to trade up. God forbid but you never know if these companies will be in business 10 or 20 years from now. Heck even 5 years.

I of course am hoping they will be, and many of them have long-standing company histories so that bodes well IMO though you never know....

So if you are unsure re: trade up within a few years or so, maybe it''s not worth taking the risk that a) they will be in business later and b) that you will want to upgrade. $500 could be alot depending.

But for me I know myself thanks to PS so my trade up policy is like gold. And hopefully I plan to make another jump next year but from there who knows when the final one will happen.

 

[Maxine]

Date: 8/14/2005 9:28:33 PM
Author: kaleigh
Buy from a vendor that will take back your stone and if there is a restocking fee, or if it has to be $500 dollars more so be it. Most PS vendors will not take a stone they didn''t sell you as a trade in. That''s why the upgrade policy is sooooo important, IMHO. I just purchased an asscher from GOG and I plan on getting a bigger one down the road and I made sure I could trade it in for full value towards my next stone!!!!

Kaleigh said she could trade up her asscher at GOG!!!!??

 

[Mara]

the GOG trade up applies to stones that they carry IN HOUSE. So if that''s an asscher like Kaleighs or a Jubilee or H&A Round that is in house, then it works. But if its a virtual H&A stone then it doesn''t apply.

That''s how I remember it. If they have it in-house and bought the stone themselves and own it then the trade-up would apply.

 

[belle]

i would only purchase from an established vendor with a 100% lifetime trade up policy.

 

[sapphic]

Even though I doubt I would trade up in the next 5 or even 10 years, I like the option. What if we gave the ring to a child in 30 years and they could trade up? although....diamond prices tend to rise, so it''s possible that the street value of the diamond is greater than the price paid at that point. I''m assuming there''s a big gap in retail vs resale prices. On the flipside, seems like if you know how to value diamonds, you could get one for a nice price if it''s from someone that wants to sell it.

If I purchase from these vendors like WF, should I get the lifetime tradeup policy in writing? I am thinking of the scenario where you check their site one day and the lifetime tradeup policy section is no longer there, or there''s an additional "50% restocking fee" in there...

 

[strmrdr]

I sent Jon a heads up to clarify his policy.
No matter who you get it from make sure and get any policies, restrictions, or other information in writing.

 

[sjz]

Date: 8/15/2005 10:56:49 PM
Author: sapphic
Even though I doubt I would trade up in the next 5 or even 10 years, I like the option. What if we gave the ring to a child in 30 years and they could trade up? although....diamond prices tend to rise, so it''s possible that the street value of the diamond is greater than the price paid at that point. I''m assuming there''s a big gap in retail vs resale prices. On the flipside, seems like if you know how to value diamonds, you could get one for a nice price if it''s from someone that wants to sell it.

If I purchase from these vendors like WF, should I get the lifetime tradeup policy in writing? I am thinking of the scenario where you check their site one day and the lifetime tradeup policy section is no longer there, or there''s an additional ''50% restocking fee'' in there...

I can''t speak for WF or any of the other vendors, but I would think that they would have to honor the tradeup policy that was in place on the date you purchased your diamond. A few years ago I had a ring that had a tradeup policy from a local jewelry chain. The tradeup policy that was in effect when I bought the ring stated that you could tradeup your jewelry at any time after purchase for an item of equal or greater value. About 5 years after I purchased the ring, I saw a ring in one of their ads that I liked that was about $100 more than I had paid for the ring (say the purchase price was around $500) I went in to the store to tradeup, and lo and behold, their tradeup policy had changed so that you had to tradeup for at least 50% more than the purchase price of your original item. That would have meant that I would have needed to tradeup to something priced at $750 or more as opposed to $600. I had the original paperwork and receipt with me, which clearly stated what the tradeup policy was when I purchased the ring. The salesperson didn''t want to honor it, but I asked to speak with the manager, and after haggling and arguing with him, it was settled that I could tradeup for the amount stated on in terms on my original paperwork. I''m pretty sure that would have held up legally.

I would be confident that, if you have documentation of what the tradeup policy is at the time of purchase, the vendor would legally have to honor that unless it clearly states that it''s subject to change of terms.

 

[madrock]

Can one of the vendors or someone who has traded up tell me how the sales tax was worked out on a trade-up? I realize that many sales from vendors to out of state customers don''t need to charge tax.

Is it like when you trade in a car on a new one, and you are only taxed on the difference? Or would you have to pay the full amount of sales tax on the value of the new purchase?

 

[fire&ice]

Date: 8/15/2005 11:30:22 AM
Author: lmurden
The best thing about a trade in policy is that it gives you Options!

Having said that, now that I have the ring of my dream through a new setting with my original engagement ring/promise ring I can''t image upgrading. I want to pass this baby on to my love ones.

This is very sensible.

But, for me - it would be a non issue. I doubt whether I would ever trade as well.

I think you have to consider your position on the whole trade up thing. As stated, if you are unsure - it does give you that option.

 

[JohnQuixote]

In answer to the WF questions:

The reason it''s a ''lifetime'' trade-up is due to absolute confidence in the quality of what we sell. This is one of our strongest purchase benefits and I can imagine no reason it would ever change.

Sales tax: This is an excellent question. We''ve done many trade-ups but at a glance I can''t find one done in Texas. Some retail situations involving a refund/upgrade would require paying sales tax on the entire purchase - but in others, like the car example above, it''s only on the difference.

Of course we''re rooting on it just being the difference

but let me consult our legal department.

 

[LadyluvsLuxury]

I absolutely think having a trade-up policy is important. Although your sentiment today or even next year may be that you never want to trade in your stone, but over time and as shrinkage sets in you would be surprised how easily you could fall in love with a new, shinier, larger one

 

[JohnQuixote]

Well I'm marking this day on the calendar. It's not often an attorney picks up on the first ring and gives you immediate info.

Sales tax on a Whiteflash trade-up in Texas is handled like trading in a car: You've already paid tax on the initial purchase, so you would only be responsible for tax on the difference.

 

[sapphic]

John,

Does that mean that the trade-up policy only applies to the ACA and ES diamonds from WF and not the other diamonds?

Thanks,
Sapphic

 

[JohnQuixote]

Date: 8/16/2005 7:07:04 PM
Author: sapphic
John,

Does that mean that the trade-up policy only applies to the ACA and ES diamonds from WF and not the other diamonds?

Thanks,
Sapphic

Sapphic,

It applies to any diamond we have sold. If you decide to purchase something from outside of our inventory we always bring it in for our own analysis and approval first.

 

[strmrdr]

As long as diamond prices rise trade ups arent that big a hassle for vendors to provide and the percentage that actualy use it is likely small.
When/if diamond prices tank and people say wow I can get a 2ct diamond for a trade up on my 1ct + $50 a lot of vendors are going under real fast or the trade in goes away and the lawsuits fly.
So there is some risk both for the buyer and the seller in the trade in offers. Get it in writing.