Any online vendors take trade ins on diamonds not from them?

[kal2021]

I have a diamond that I am looking to trade in for a larger diamond, and I am trying to determine if I could do that with any of the preferred online vendors such as WF, BGD, or GOG. Does anybody know? I am still awaiting email responses from them so I thought I would propose the question here since y'all are so on top of it!

I know I can go to a local jeweler and trade it in, but part of me would really like to purchase online because I am starting to feel I can trust them more and the prices are better. I just don't want this diamond to go to waste, and the price I would get for selling to a jeweler is much less than doing a trade in. I know there is always selling it privately on eBay, but I have a feeling we still wouldn't get as much for it as if we traded it in, but who knows.

TIA for any responses/suggestions!

 

[Gypsy]

Re: Any online vendors take trade ins on diamonds not from t

None of them do it as policy. Depending on how nice your stone is GOG may offer to consign. I'd try to ask Pearlmans to see what they can do for you (if anything) as well.

 

[Lula]

Re: Any online vendors take trade ins on diamonds not from t

Nice Ice lists consignments on their website. http://www.niceice.com/ I'm not sure what their criteria are for consignments, but it's worth an e-mail.
Jewels by Erica Grace specializes in antique jewelry, but they do occasionally consign newer pieces.http://jewelsbyericagrace.com/

 

[kal2021]

Re: Any online vendors take trade ins on diamonds not from t

Thanks, Lula and Gypsy! I will look into your suggestions.

 

[Rockdiamond]

Re: Any online vendors take trade ins on diamonds not from t

Is it a large stone?
Does it already have a GIA report?

Depending on the specifics, it might make a lot of sense for you to send the diamond to GIA for a report, if it does not have one.

 

[denverappraiser]

Re: Any online vendors take trade ins on diamonds not from t

'Trade in' is the tricky phrase here. Pretty much any dealer will buy the right kinds of things for the right price and they'll have no interest if it's something they can't sell or if your price is too high (or unless they can charge enough on the other half of the deal that it doesn't matter). Ask 'em. It helps your position dramatically if you know in advance what to expect and an independent appraisal can be very helpful.

 

[kenny]

Re: Any online vendors take trade ins on diamonds not from t

I think if it is highly marketable (say, GIA 1.15 ct F VVS2 Ex Ex no fluor, with an HCA of 1.0 and pristine IS images) and you're willing to let it go for a low enough price ANY vendor would gladly take it.

The problem is many stones are not that good or people want too much for them.

 

[Rockdiamond]

Re: Any online vendors take trade ins on diamonds not from t

An appraisal might be in order- but depending on the specifics, you might need a GIA anyway.

 

[MarkBroumand]

Re: Any online vendors take trade ins on diamonds not from t

Best bet is to call your vendor of choice with the specs of your stone and see if they are willing to work with you.

 

[kal2021]

Re: Any online vendors take trade ins on diamonds not from t

Thanks for the advice everyone! I have been letting vendors know about my stone and asking if they can do anything for me, so we will see. I do have an appraisal from the jewelry store I bought it from - would that be considered an "independent appraisal"?

ETA: It does not have a GIA report - it is EGL USA certified. I have done some research on what it would cost to a buy a stone like it online, and I know what a couple B&M jewelers would offer me for it as a trade in, and I am pretty realistic about it's worth. I am just hoping one of the online vendors will work with me because I would prefer to buy online after reading about all the wonderful experiences people have had.

 

[kenny]

Re: Any online vendors take trade ins on diamonds not from t

I do have an appraisal from the jewelry store I bought it from - would that be considered an "independent appraisal"?

I would consider that the absolute opposite of an independent appraisal!

I'd also send it to GIA to get a report for $100 or so, depending on weight.
Then find out what it would go for. with the GIA grades and report.

 

[Rockdiamond]

Re: Any online vendors take trade ins on diamonds not from t

What did EGL USA call it in terms of color, clarity, size and shape?

I agree with Kenny that an appraisal from a seller is not to be considered "independent"

 

[kal2021]

Re: Any online vendors take trade ins on diamonds not from t

Thanks, Kenny and Rockdiamond! Below is the link to the EGL USA stats on it. I know it is not worth much, which is why I am hesitant to spend the money to have it GIA certified. Good thing about the inclusions though is that they are white (crystals I think) and on the sides so they can be covered with prongs. I have great eyes and I cannot see any black, just the couple white ones on the sides.
http://www.eglusa.com/oresults/SearchPage.php?st_num=85019202D
Here is what the HCA said:
Light Return: Very Good
Fire: Excellent
Scintillation: Excellent
Spread: Very Good
A small amount of tilt will show a fish-eye under the table of this diamond.
Total Visual Performance 2.0 - Very Good - Worth buying if the price is right

 

[Rockdiamond]

Re: Any online vendors take trade ins on diamonds not from t

Based on the EGL USA report I'd say you can skip the GIA report on this stone.
It's sure to be graded I1- in this case, the EGL USA report served a valuable purpose.

Such a stone won't have a very high trade in value.
The higher the price of the stone you intend to trade it in on, the better value you'll see.

How much did you pay for the diamond?

 

[kal2021]

Re: Any online vendors take trade ins on diamonds not from t

Based on the EGL USA report I'd say you can skip the GIA report on this stone.
It's sure to be graded I1- in this case, the EGL USA report served a valuable purpose.

Such a stone won't have a very high trade in value.
The higher the price of the stone you intend to trade it in on, the better value you'll see.

How much did you pay for the diamond?

That's what I figured (as far as not needing the GIA report). Well, we didn't actually pay anything for it. We had a family stone that we traded in for it. It's a long ridiculous story! I think we kept getting screwed (pardon my french), which is why I am ready to take this whole diamond buying process online. Anyway, when we made the trade, we were told it had a retail value of about $2500. When I look up similar stones, they seem to sell for about $2500-$3000.

We are looking to purchase a 1.5 carat that will cost about $11,000-$13,000. A local jeweler said he would give me $1800 for the stone as a trade in when I was looking to just spend another $2500 for a 1 carat, so I am hoping now that we are willing to spend much more, maybe we will get more value for it?

 

[denverappraiser]

Re: Any online vendors take trade ins on diamonds not from t

I'm with Rock, I don't think a GIA will benefit you on your sale to a dealer by enough to justify the cost, particularly when you consider the shipping and overall headache of the deal. It might be worth the cost if you're going to try and retail it yourself but this depends far more on your own selling skills than it does on the details of the stone.
$1800 is a distinctly high dealer offer for that stone and it would make me question the details of the one on the other side of the deal. They can offer whatever they want on a trade after all if they can charge whatever they want on the one you're getting for the trade.

 

[kal2021]

Re: Any online vendors take trade ins on diamonds not from t

I'm with Rock, I don't think a GIA will benefit you on your sale to a dealer by enough to justify the cost, particularly when you consider the shipping and overall headache of the deal. It might be worth the cost if you're going to try and retail it yourself but this depends far more on your own selling skills than it does on the details of the stone.
$1800 is a distinctly high dealer offer for that stone and it would make me question the details of the one on the other side of the deal. They can offer whatever they want on a trade after all if they can charge whatever they want on the one you're getting for the trade.

Hey Denver, I appreciate your input! But I'm sorry, I don't understand what you mean - you're saying $1800 is good, but that you wouldn't trust the person making that offer?

 

[kenny]

Re: Any online vendors take trade ins on diamonds not from t

I'm with Rock, I don't think a GIA will benefit you on your sale to a dealer by enough to justify the cost, particularly when you consider the shipping and overall headache of the deal. It might be worth the cost if you're going to try and retail it yourself but this depends far more on your own selling skills than it does on the details of the stone.
$1800 is a distinctly high dealer offer for that stone and it would make me question the details of the one on the other side of the deal. They can offer whatever they want on a trade after all if they can charge whatever they want on the one you're getting for the trade.

Hey Denver, I appreciate your input! But I'm sorry, I don't understand what you mean - you're saying $1800 is good, but that you wouldn't trust the person making that offer?

Trade in deals have two sides.
1. What you appear to pay for the new thing.
2. What you appear to get for the old thing.
They can play games with how things appear, and hope you are not very well-informed or alert.

For cars you throw in a third factor, what interest rate and fees you end up paying.

It's complicated.
Pay attention to everything.

I recommend you sell your old stone private party, a pro sees right through an EGL SI3 grade.
Do NOT send this stone to GIA because it will come back with the dreaded I1 or I2 grades.
Also if you have the skill and patience to sell it to the person who will wear it there is one less mouth to feed.
IOW you may get more money.

 

[Rockdiamond]

Re: Any online vendors take trade ins on diamonds not from t

Denver ( I mean if you can't call me David, why should call you Neil )- If the offer was, $2500 plus this stone for another one carat stone- and we don't even know the specifics of that stone- it might or might not be a fair deal.
But- I do suspect you have a point- it's unlikely the stone offered for the trade in these circumstances would be a really well cut, GIA graded one carat.

I do not agree with Kenny about selling it privately.
Mainly because selling privately involves some risk and hassle ( unless you know someone that wants it already).
Plus the difference between private sale and trade in will not be that great if you do find a good internet seller who's willing to take it. The fact that you are willing to put in another $13k works in your favor here- even if you only get $1000 for it on a trade. I doubt you'll get even get $1800 for it if the stone you're buying is desirable, and well priced to begin with.

 

[kal2021]

Re: Any online vendors take trade ins on diamonds not from t

Denver ( I mean if you can't call me David, why should call you Neil )- If the offer was, $2500 plus this stone for another one carat stone- and we don't even know the specifics of that stone- it might or might not be a fair deal.
But- I do suspect you have a point- it's unlikely the stone offered for the trade in these circumstances would be a really well cut, GIA graded one carat.

Sorry, I may have mis-explained. I originally showed this jeweler the stone, and asked how much I could get for it as a trade in for a better 1 carat. He told me he could give me $1800 for it and then showed me a good one carat - G or F color (can't remember), VS2, 1 carat, and he wanted to have me pay another $4000 for it. I said that was more than I was looking to spend - that I wanted to only spend $2000-$3000, at which point he showed me a 0.9 carat, G color, SI1. I don't know the further specifics of the stones because I really wasn't interested in either one and at that point was just more interested in seeing what he would even be able to do for me. So, bottom line is that he basically said he would give me $1800 for it as a trade in, regardless of what stone I was getting. Do you still think there is something weird there? I contacted him recently saying I was now interested in spending much more and told him what I was looking for, and I was planning to see if he would offer me more for the trade in if he does in fact have some stones in the $11-13,000 range that I like. How does this sound?

I think we will also try listing the ring (the diamond is actually set in a nice micro pave halo setting right now) on Ebay, setting a reserve, and seeing if we get any takers. I figure it can't hurt because if we don't get our minimum we don't have to sell it.

 

[frankiextah]

Re: Any online vendors take trade ins on diamonds not from t

traded in my stone (from elsewhere) with James Allen and they were very easy to work with. this was under the condition that i would trade up for a larger stone within their existing inventory. the trade-in amount was about 15% below the current rappaport, which was very fair, since our original stone was purchased in 2009 when the prices were quite low due to the market. so we ended up not losing a penny with the offered trade-in price! plus we got pricescope and wiring discounts for the new stone. the original stone was a GIA cert triple ex F VVS2 1.72ct. new stone is AGS cert 000 G VS1 2.32 ct.

 

[kal2021]

Re: Any online vendors take trade ins on diamonds not from t

traded in my stone (from elsewhere) with James Allen and they were very easy to work with. this was under the condition that i would trade up for a larger stone within their existing inventory. the trade-in amount was about 15% below the current rappaport, which was very fair, since our original stone was purchased in 2009 when the prices were quite low due to the market. so we ended up not losing a penny with the offered trade-in price! plus we got pricescope and wiring discounts for the new stone. the original stone was a GIA cert triple ex F VVS2 1.72ct. new stone is AGS cert 000 G VS1 2.32 ct.

Wow, Frankie, thank so much for the info! I wonder if they would do the same with my stone even though it is not nearly as nice as the onr you traded in! Do you know if James Allen has a lifetime upgrade policy?

 

[frankiextah]

Re: Any online vendors take trade ins on diamonds not from t

yes they do ! the lifetime policy applies to your future purchase of a stone that is at least 2x the price of the current stone (plus pricescope + wiring discounts)... to my knowledge, they are also happy to buy the diamond back at 70% of the original paid price.

do note that trading in a diamond from elsewhere is only a case-to-case basis and seems like they have to talk with their diamond department to see if there is a demand for such a diamond. i guess i really lucked out because they responded with an immediate offer the very next day. i worked with Josh from JA from start to end. He was courteous and very fast in responding to all my questions. He is also a sales manager, who is better to speak to than other customer reps who might not know the ins and outs of this particular process.

one more thing, i looked into their inventory and picked out a few stones that i was seriously interested in before inquiring about this process. in my first email i mentioned that i would like to trade in my stone for a larger, more expensive diamond, giving them a definite incentive for the trade-in. so it would be a good idea for you to look into their online inventory and mention that in your email.

below are the original 2 email responses he sent me when i inquired about the process :

From: Josh Cales <[email protected]>
To: xxx
Subject: Re: James Allen Contact Us

xxx,

Our upgrade program traditionally applies to customers that purchased the first diamond from JamesAllen.com. However, I would be happy to work with our diamond department to see if there would be any interest in the diamond that you own. Could you email me the GIA grading report? If something can be offered, then I'll be happy to help with regard to your request to upgrade. I look forward to hearing from you.


xxx,

I received an answer from our diamond department sooner than expected. I have been given approval to offer up to (but not to exceed) $xxx for the trade-in of your diamond. This offered amount is contingent upon your diamond being upgraded towards the purchase of our X diamond.

If you would like to set things in motion, then just give me a call tomorrow when I am back in the office and I will be glad to help. : )

Josh Cales | Sales Manager | JamesAllen.com | direct:240.379.8365 | toll free:877.826.9866

 

[kal2021]

Re: Any online vendors take trade ins on diamonds not from t

Wonderful, thanks so much for all of the helpful info, Frankie! I have sent an email to JA already! BTW, sounds like you have an amazing stone on your hands - would love to see a pic!!

 

[frankiextah]

Re: Any online vendors take trade ins on diamonds not from t

oooh, awesome !!! good luck and please update us on your experience !

click on "all user's topics" next to my user ID on the left and you should be able to find my new ring thread!