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Q for the Industry...Trade-Ins?

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Mara

Super_Ideal_Rock
Joined
Oct 30, 2002
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31,003
One of my girlfriends the other day who used to work in a jewelry store when she was younger told me that pretty much any B&M or jeweler will take a stone as a trade-in towards an upgrade of a larger stone, providing that the new purchase was worth it for them.

My question for the trade members here...since we have so many...is that true from your opinion? I ask the question for a personal reason but also figured it would be good to post this for others as well. We bought our stone offline, but I have to say that in the future should we decide to upgrade the stone, I would really love to buy online. Do I have a chance of an online vendor taking my stone as a trade-in towards a new stone? Or because it''s not considered ''ideal'', would it be difficult for them to sell (e.g. if I wanted a SuperbCert or ACA or a GOG stone?) because their inventory is mostly made up of excellently cut AGS0 stones?

Also, what is the norm for trade-in value and amounts to purchase? I have heard you normally need to spend at least 1x what you spent on the original stone. For example if the original stone was $7k, then you''d spend $10-11k on the new stone. Some places require double, so you''d spend $14k on the new stone, but really be paying the amount minus the original $7k. Is this true?

I love my stone but of course would love to upgrade in the future, and our stone was bought with this in mind originally anyway....and just wonder what my options may be in the future, since we purchase the stone offline...and while our offline jeweler would most likely happily trade in our stone at original purchase price to have us spend $$$ in his store, I am not sure I''d want to buy offline again. So what are our options?

Thanks!
 

niceice

Brilliant_Rock
Joined
Jan 29, 2003
Messages
1,792
In our experience, when a retailer is willing to accept the trade-in of a diamond that was not originally sold by them towards the purchase of another diamond in their inventory, they are only willing to do so at a "substantial" discount which enables them to purchase the diamond for much less than they would be able to purchase the diamond from a supplier for...

We can't speak for the other on-line dealers, but we will not accept diamonds that we did not originally source as a trade-in because we have no way of being able to determine the source of the diamond... And a non-ideal? Unfortunately that is out of our realm in terms of being able to resell it...
 

Mara

Super_Ideal_Rock
Joined
Oct 30, 2002
Messages
31,003
Thanks RT...anyone else care to weigh in? I'd love to hear from the other online vendors that frequent this board and even offline vendors who sell stones. What are your policies, thoughts?
 

Hest88

Ideal_Rock
Joined
Jan 22, 2003
Messages
4,357
Mara, this isn't going to help you, but it may help any new buyers who are trying to whittle down their vendor choices.

There are a number of vendors who have a lifetime upgrade policy for the full purchase value of the stone. The jeweler I've been using over the last few years, Diamond Brokers of Florida does. I can't remember if Good Old Gold does or not, but I know DBOF isn't the only vendor I know who has such a policy.
 

niceice

Brilliant_Rock
Joined
Jan 29, 2003
Messages
1,792
Actually, we think that practically everybody selling here on PS offers a trade-in policy for their clients... They would be insane not too
 

slmulkey

Shiny_Rock
Joined
Oct 30, 2002
Messages
133
Interesting question Mara. I wouldn't mind trading up in a few years, but I know that my husband would flip out if I suggested it. I'll just have to work on getting a sapphire and diamond ring instead
I found this info on Dirtcheapdiamonds website regarding their policy:

  • Three Year Buy Back - If for any reason you need to sell your diamond, Dirt Cheap Diamonds will buy back your purchase for 75% of the original purchase price. Diamond must be in original condition and accompanied by original laboratory grading document. In a market that usually only pays 40-50 cents on the dollar, this policy can save you hundreds, if not thousands of dollars down the line.
  • Five Year Trade-Up Policy - If for any reason you would like to "trade-up" a diamond purchased from us, Dirt Cheap Diamonds will give you a credit equal to 80% of the original purchase price of your laboratory graded diamond. Original diamond must be in original condition and accompanied by original laboratory grading document. New purchase must exceed initial purchase by a minimum of 50%.
  • Diamond Consignment Program - Do you have a diamond you would like to sell, even though you didn't purchase it from us? Dirt Cheap Diamonds can assist you in selling your diamond via consignment. By utilizing this program, you can put your diamond in front of tens of thousands of potential shoppers every year. The only requirements are that your diamond be at least 1/2ct in size and have a major laboratory certificate. If your diamond doesn't have a lab certificate we can help you get one. Just ask a Diamond Sales Agent for details.
 
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