How can I trade in a diamond?

[Klynn19]

I have a family diamond, no certificate MRB that I am looking to trade in to put towards the purchase of an engagement ring. Am I stuck going to an in person jeweler to handle this? Is there a better way to go about it to obtain the most value?

I don’t have a certificate, just appraisal

 

[yssie]

Tell us about the stone. Post the appraisal - that will give us shape, size, and some idea of colour/clarity.
Is your family okay with you selling it?
How long have you had it since the appraisal, and has it been worn since then?
Is it loose right now?

Whether sending it into GIA, for example, is worth the cost and time depends on what sort of stone we're talking about.

 

[denverappraiser]

What Yssie said. There are a lot of right answers to this and it will depend on what you have, your tolerance for the sales process, your willingness/ability to invest in marketing, your patience and luck. This is not a short answer to an easy question.

 

[Dancing Fire]

I have a family diamond, no certificate MRB that I am looking to trade in to put towards the purchase of an engagement ring. Am I stuck going to an in person jeweler to handle this? Is there a better way to go about it to obtain the most value?

I don’t have a certificate, just appraisal

I think Wink at HPD may be able to help you. Give Wink a call.

 

[Bron357]

Most jewellers don’t “buy” unwanted diamonds unless it’s at a bargain basement price and/or you are giving them the business for the new diamond and setting.
For this reason most people sell unwanted jewellery themselves via auction (fees about 20%) or consignment (fees around 15% maybe more) or eBay (fees about 13%) or free sites like Gumtree, Craigslist or jewellery sites like Loupe Troop.
Usually an appraisal isn’t enough (and appraisals are usually for insurance purposes not for saying how much you can sell the pre loved diamond ring for) and most potential buyers want a GIA diamond report. You can get on yourself but the diamond usually needs to be taken out of the setting. Such a lab report is needed because there are many variables in diamond colour, clarity and cut that significantly changes its value.
So have a look on James Allen at what is similar to your diamond and consider 60% of that price point as what you might expect in $$$$.

 

[hypermom]

I second contacting Wink at High Performance Diamonds regarding trade in. I am trading in a non certed 2.12 stone for a CBI. I’m expecting to get an offer on trade in today.

 

[Klynn19]

Tell us about the stone. Post the appraisal - that will give us shape, size, and some idea of colour/clarity.
Is your family okay with you selling it?
How long have you had it since the appraisal, and has it been worn since then?
Is it loose right now?

Whether sending it into GIA, for example, is worth the cost and time depends on what sort of stone we're talking about.

It’s a 1ct D SV1 Round Brilliant

 

[Klynn19]

I second contacting Wink at High Performance Diamonds regarding trade in. I am trading in a non certed 2.12 stone for a CBI. I’m expecting to get an offer on trade in today.

Thanks, can you let me know if you’re satisfied when you receive your offer?

 

[Ss52]

It’s a 1ct D SV1 Round Brilliant

Would you clarify, please. Is it an SI 1or 2, or is it a VS 1 or 2?

It’s certainly a very desirable color!

 

[hypermom]

Thanks, can you let me know if you’re satisfied when you receive your offer?

Yes I most certainly will. They do specify on the HPD website in a blogpost that you should expect about 50% of retail. You can determine estimated retail by looking at James Allen. My diamond was recut by Brian Gavin 4 years ago and is on the edge of ideal so I'm hoping for a decent offer; however probably not much past 50% of its current value.

 

[SimoneDi]

I have to ask the obvious question - why not use the diamond for the engagement ring? It’s a lovely way to incorporate an heirloom stone and it sounds like you might have a beautiful diamond already. Can you post some pictures?

 

[Klynn19]

I have to ask the obvious question - why not use the diamond for the engagement ring? It’s a lovely way to incorporate an heirloom stone and it sounds like you might have a beautiful diamond already. Can you post some pictures?

I have to ask the obvious question - why not use the diamond for the engagement ring? It’s a lovely way to incorporate an heirloom stone and it sounds like you might have a beautiful diamond already. Can you post some pictures?

It’s a beautiful stone however am looking for a larger size and different shape for an engagement ring.

I will share pictures this afternoon.

 

[Klynn19]

Would you clarify, please. Is it an SI 1or 2, or is it a VS 1 or 2?

It’s certainly a very desirable color!

Sorry SI 1 Clarity - I didn’t realize it was a lower clarity until recently looking at the appraisal. It’s a very bright diamond the color must make up for the clarity although I’m certainly far from the expert that you all are.

 

[SimoneDi]

It’s a beautiful stone however am looking for a larger size and different shape for an engagement ring.

I will share pictures this afternoon.

Please do, we are curious to see the diamond. I would be curious to know -
1. What shape are you looking for?
2. How large would you like the e-ring to be?
3. What kind of a setting you are looking to get?
4. What is your budget?
5. What are you hoping to get from the existing stone?

Sometimes, trading in an existing stone could be a great way to get a credit toward the total purchase price. However, many times, you simply end up getting very little for what you have and in the future you end up spending money money to purchase other and in many cases similar items compared to what you sold. I think that some men don’t realise that the jewelry purchases rarely stop with the engagement ring I guess, depending on what you can or can’t get for the stone, I would encourage you to also think about keeping the stone and repurposing it in a different piece of jewelry.

 

[lydial]

Wink Jones of HPD was able to facilitate the sale of my 1.58 H VS1 60/60 when I recently bought my 2.66 K VS 1 CBI. The price I got from them was about 70% of what a similar stone would cost new. Of course, the actual 1.58 stone actually cost more because it was from a B&M local diamond “expert” (!!!) who overpriced it. Long story... it was an insurance replacement of my original e-ring diamond. I never totally loved it. The CBI is gorgeous.......

 

[hypermom]

I just got the offer for my 2.12 stone. Wink is a magician, that's all I can say.
However @Klynn19 you mentioned you were looking for a different shape. I'm not sure what shape stone you have or what you are looking for. That may impact whether you can facilitate a trade with Wink. It's worth a call or email.