Is having a trade-up policy important?

[diamondsbylauren]

Hi John!
The law would be the same in NY- and I suspect in most states.

Another thing to look at is: does the vendor actually have the type of thing you might want to upgrade to?


Storm- a drop in diamond prices ( which is not likely) could hurt diamond companies for a lot more reasons than trade up policies.
Based on what I see, prices are NOT in a "bubble" situation, like 1980.
THe new higher prices seem to be rooted in actual market forces which are not likely to change.

Rising prices do tend to favor the merchant in a trade up situation.
A 1.00 E/SI1 bought really well 2 years ago is likely the same price as a .80 today.

Of course when one trades up, the new purchase is at the new price, while the old one is taken back at the old purchase price. This fact has a lot to do with why it makes sense for companies to offer trade up policies.

 

[windowshopper]

i think a trade up policy is very very important: 1- you can trade up for a better or larger stone while not taking a big loss on your existing stone 2) it shows a level of confidence by the vendor in their product...........

 

[joadma]

YES! I just upgraded for my 10 year anniversary, and I am thrilled! I got a Ritani and it is gorgeous. I probably couldn''t have gotten it without trading in my old ring to put towards this purchase. I would say yes, it''s important

 

[cutes814]

Even though I have no intentions of trading up my engagement ring, I like to have the option available, just in case....of who knows what? I think a trade up policy is very important. You never know what the future may bring. Like Belle said, make sure the company offering the policy is an established company. You want them to be around when you are ready for your trade up, IF it ever happens.

And storm brought up a very good point, to have the policy in some form of documentation. Which reminds me....I better tell my bf to get that when he picks up my ring.

 

[Rhino]

For clarification,

At the current moment we do offer lifetime tradein on all H&A diamonds including the Jubilee, Regent, SqH&A's & Princess cuts. HOWEVER as in Kaleigh's case (and many others for that matter) we have been handling the tradeup policy on a stone for stone basis when asked if a person could have this which we do put in writing on the clients invoice. The reason we have this policy is because there are many stones we DO NOT want to take back on a trade. Ie. if a person wants to purchase a trillion cut that's a P in color, I1 clarity, I am not too excited about taking back such a stone on a trade in AT ANY TIME.

Granted we don't get requests for this often but there are certain stones NO company wants back.

I suppose the response to this would be ... why sell a stone that you wouldn't want back? If you're willing to sell it and make a profit on it, why not offer a trade in policy on it? Reason: There are just certain types of diamonds, that although we'll help a person find and locate (and find the best of the best within that shape for them) it would still NOT be a stone I would want to purchase for my inventory. I'm just particular like that.
We are considering changing our policy to *all stones* but this is still in debate here at our store and we will be including Asschers and Emerald Cuts to the shapes we offer tradeup's on as these are (and have always been) pretty hot shapes and in good demand especially when picked right.
If there is a shape a person is considering and would like to know if we will extend our policies on it simply give us a call and I'll let ya know asap if we'll offer a trade up on the type of stone you're looking for. If it isn't some ghastly combination of color/clarity/cut & shape we're open to offering it.

Peace,

 

[dani13]

That''s great to know, Jon!
Thank you for the clarification!

 

[Rhino]

No sweat man. You understand how we would not want to take back certain types of stones eh? We sincerely do strive to provide the best services for our clients and do not want to turn anyone away but I have to draw the line somewhere. If its a quality stone and something I''m proud to stock I don''t have a problem with it. One reason why I brought this up is because we do, from time to time, have clients who want stones I wouldn''t typically purchase for stock.

We recently had such a situation regarding a clarity enhanced stone. It was a local dude who had his back up against the wall for a certain size but only had x amount to spend and the best option for this guy really, was a clarity enhanced diamond. It was either get a yellow stone or get a stone that had obvious eye visible inclusions OR a clarity enhanced diamond. I explained the situation to him and he was fine with it. I guess as long as everything is disclosed up front there''s no issues. I did want to make it clear though that we are somewhat flexible on this issue depending on the stone in question.

Peace,

 

[moremoremore]

I think it''s quite reasonable to give the 100% trade up for H&A and for other worthy stones. If a client wants you to call in pooh pooh and you do so and sell it to them b/c they request that stone, you shouldn''t have to be stuck with it...

As for the main question, the trade up policy is very important. I won''t buy if there is less than a 90%...

 

[sapphic]

Just out of curiosity, how long have the PS vendors been in business? How big are these companies and will they be around in 20 years or 50 years?

 

[moremoremore]

oh I'm upgrading before that LOL....as long as they are still here in 2 years
But yes, that is definitely something to think about...but I think 50 years is pushing it... LOL

 

[pyramid]

I know that Good Old Gold has been around for a while as a store but I can tell you that they were selling diamonds on the internet with the same great magnification of clarity when I first came looking for diamond information about 1997. They were the first real diamond education I found on the internet apart from the usual sites which give a bit of a drawing about cut and clarity.