Question about diamond wear and tear

[kenny]

I am wondering how durable diamonds are in the real world.
We all know they can chip and crack.
We all know some owners are harder on their stones than others.
But I thought of a way to get some realworld hard data on this.

Whiteflash has a great policy.
10-day money back.
1-year buy back.
Lifetime trade up.
They also have some decent sales volume, which must mean more taken back.
They also post here.
I was wondering what percentage of diamonds are in perfect condition after, say, 5 years of daily wear.
I am asking about the average based on your actual experience of trade-ins trade-ups, buy backs.
This is a unique opportunity for real-life data.

99% ?
75% ?
50% ?
25% ?

I assume they are put under much higher magnification than a 10x loupe and any tiny nick anywhere unerstandably disqualifies them since this would require a repolish which would reduce the weight and its optimum cut quality.

This question is for not only John at Whiteflash but any pro who cares to respond based on their experience.

The main reason I am asking this is not so much to put WF on the spot.
I am wondering how durable diamonds are on the average wearer.
Can I really expect that my diamond will remain perfect for life if I am very careful with it?
Or would you say that most all diamonds get some nicks and chips after years of daily wear even by the most careful owner?

 

[kenny]

I edited my post for clarity.
Sorry

 

[strmrdr]

John Q. should be back sometime tonight/early tomorrow to tackle your question.
He has email access but not board access.

In general all return polices are Dependant on the diamond being in re-sellable condition.
I believe most vendors take the cost of repair/loss in value out of the trade in amount if they find something.
More likely if its damage to any large extent your insurance on the stone will cover it and you would be better off going that route.

John can clarify when he gets in on the WF specific policy and maybe answer your percentage question.
I suspect the answer to the percentage question is going to vary a lot and be a lot lower percentage of princess cuts that come back perfect then rounds.

 

[Richard Sherwood]

Five years of wear is usually not a problem for most diamonds with decent thickness of girdle, set well.

I don't have any hard statistics, but my gut instinct puts the number at 99.7% unharmed after five years.

 

[JohnQuixote]

Date: 10/29/2005 1:00:49 PM
Author:kenny
I am wondering how durable diamonds are in the real world.
We all know they can chip and crack.
We all know some owners are harder on their stones than others.
But I thought of a way to get some realworld hard data on this.

Whiteflash has a great policy.
10-day money back.
1-year buy back.
Lifetime trade up.
They also have some decent sales volume, which must mean more taken back.
They also post here.
I was wondering what percentage of diamonds are in perfect condition after, say, 5 years of daily wear.
I am asking about the average based on your actual experience of trade-ins trade-ups, buy backs.
This is a unique opportunity for real-life data.

99% ?
75% ?
50% ?
25% ?

I assume they are put under much higher magnification than a 10x loupe and any tiny nick anywhere unerstandably disqualifies them since this would require a repolish which would reduce the weight and its optimum cut quality.

This question is for not only John at Whiteflash but any pro who cares to respond based on their experience.

The main reason I am asking this is not so much to put WF on the spot.
I am wondering how durable diamonds are on the average wearer.
Can I really expect that my diamond will remain perfect for life if I am very careful with it?
Or would you say that most all diamonds get some nicks and chips after years of daily wear even by the most creful owner?

Thanks, Strm, for passing on that info.

Kenny, this is a good question and I am happy to provide information for you as I can. In the years Whiteflash has been in business the number of trade-ups, compared to the number of clients who keep their diamonds, is fractional - so my 'wear and tear' statistics are not based on a sample I consider global in scope.

First, any diamond that comes back for trade-up is checked by our experts. It is also sent to the independent appraiser who issued the original verification letter for checking. If there is any damage the customer would be informed at that time. Once we have checked it, every diamond is then sent back to the lab where it was originally graded for re-grading and re-documentation. Remember that if it was FL when the client bought it and even something minor occured during ownership it would receive a different clarity grade when sent back to the lab the second time. Here is some data to support Rich's instinct: In every circumstance except one (that I know of) our trade-up diamonds have come back from the lab with the same grades and measurements as they originally received. This includes fancies.

The exception was a diamond that had been chipped. When this happens, our policy is to recut the diamond into its original condition, proportions and patterning. In a trade-up circumstance we would honor the new value of the diamond once it had been recut and regraded by the lab, less the cost to put it back into its original condition. For example, if someone had a 1.50 carat diamond that was chipped to 1.48 and required recut on the wheel to a 1.37 with original proportions and patterning - we would honor the trade-up value at 1.37 less the cost of restoring it. Of course, the glass-half-full in that scenario is the 1.50 being a VVS, and recutting it to 1.37 causes it to become FL

In a broad sense I think Rich has the right of this, especially on such a short-term scale as 5 years. There are many diamonds passed down from mother to daughter, etc, that remain in top condition for decades and longer. Still, with this said, all diamonds are subject to the laws of physics (cleavage) and the laws of chance.

 

[kenny]

Thanks all.

This is good news.
We hear so much about how fragile diamonds are and how careful you have to be with them.

I expect a much higher number of chipped stones.