Diamond Upgrade Policies

[nobody]

I have noticed that quite a view vendors have a diamond upgrade policy and would like to know the experiences of those that have used it and maybe some insight from some of the vendors that post on here.

I am sure that the diamond gets worn and inevitably it gets scratched, chipped, the prongs on the ring chips the diamond. How does the upgrade policy deal with the wear? (Lets say that you have a SI2 diamond and after its set and worn for a number of years it becomes a I1 diamond, What happens with the cert and the upgrade policy)

 

[marcy]

The stores I have done an upgrade with have always honored their posted policies. I have never turned in anything that was damaged. They could always repolish the stone or even recut it if it is damaged.

 

[kcoursolle]

Chipping is fairly rare and you should have separate insurance to cover this sort of damage. I upgraded my engagement diamond through jamesallen without any problems after about 2 years of wear.

 

[Maisie]

Whiteflash says this on their website:

Diamond needs to be in its original undamaged condition and accompanied by its original grading report.

You can read the full trade in policy here

 

[LegacyGirl]

Um how would a diamond go from an SI2 to an I1? Can that even happen?

 

[angeline]

Date: 2/17/2008 7:14:06 PM
Author: LegacyGirl
Um how would a diamond go from an SI2 to an I1? Can that even happen?

If you chip the diamond, or somehow significantly scratch it then sure the clarity will change. See this all the time on old stones. Diamonds are hard though. Harder than the prongs that hold them..

 

[Allison D.]

I can't speak toward others' policies, but I can tell you what happens with ours.

When you send in an AGS/GIA stone toward trade-up, it's sent back to the lab for regrading. If something has occurred (chipped girdle, for example) that affects the grading, the $$ difference is taken from the trade.

So, example: you trade in a G, VS2 diamond you purchased for $7,000 and it comes back as G, SI1 after grading, if the G, SI1 was valued at $6600, you'd be credited the $6600 (less shipping, etc).

FYI, though....it's not a frequent occurrence. I've personally traded back five stones; other PS friends of mine have traded nearly another dozen stones collectively. None of them have come back from regrading with a lower grading report.

 

[strmrdr]

Date: 2/18/2008 2:23:23 PM
Author: Allison D.
I can''t speak toward others'' policies, but I can tell you what happens with ours.

When you send in an AGS/GIA stone toward trade-up, it''s sent back to the lab for regrading. If something has occurred (chipped girdle, for example) that affects the grading, the $$ difference is taken from the trade.

So, example: you trade in a G, VS2 diamond you purchased for $7,000 and it comes back as G, SI1 after grading, if the G, SI1 was valued at $6600, you''d be credited the $6600 (less shipping, etc).

FYI, though....it''s not a frequent occurrence. I''ve personally traded back five stones; other PS friends of mine have traded nearly another dozen stones collectively. None of them have come back from regrading with a lower grading report.

Thats pretty standard, you can can file a claim with your insurance company for the $400 in some cases also.