Maybe I'm jaded, walking down 47th street every day, but it seems to me most dealers do not offer a refund policy.Most dealers will offer a refund if you’re unhappy with your purchases
Texas Leaguer|1308006518|2945087 said:I agree with much of what has been said already. I will add that the trade-up benefit that we offer is redeemed at a much higher rate than I personally would have expected.
While it may seem like more of a comfort builder for the sale, and in fact most guys think it unlikely that his gal would ever consider giving up the original engagement diamond, the reality is that this is a benefit that some couples find valuable in the long run.
I do not have the actual statistics, and if I did I probably could not share them , but there are very few weeks that go by that we do not do a trade-up.
In some cases the trade-up is anticipated at the outset. The guy really wants to give his gal a one carat, but he wants the diamond to be really nice and his current budget will only allow for a three quarter carat. In that scenario, a trade-up benefit is great to have in your back pocket as a consumer. We always try to keep customers in their comfort zone in terms of dollars, and our trade up benefit is a helpful tool in that regard.
I will also agree with other posters who point out that there is a real cost associated with offering any type of guaranteed buy/sell/trade agreement. Particularly one that never expires! But this cost is hard to calculate (who knows exactly what the market is going to do, or who your target audience will be and what kind of inventory mix will be healthy for your business down the road) and therefore probably does not get adequately factored in to the sell price.
Possibly, if all the projections were run, we would all stop offering these benefits!