trading diamonds

[umgoblue2003]

What is the process for trading in diamonds?

Is it possible to trade in a diamond at all? who does the appraising? and does the original certificate count for anything? Also, if this is possible, do any jewelery stores do it or only certain ones?

Thanks!

 

[Patty]

Welcome omgoblue!

First of all, you will get more responses to your question if you post it on the Rocky Talky forum. People come to "show me the ring" just to oogle at rings.

As for your question, most jewelers will not take a diamond as a trade in unless they sold you the stone. Even then they may have specific qulaifications for their trade in policy. Some jewelers will take a stone on consignment and try to sell it for you but not all will do that.

Do you already have a diamond to trade? If so, where did you buy it?

 

[diamondseeker2006]

I would take it to the jeweler who sold it and try to get them to trade it for a stone you like better. You should get the full value for a trade if the diamond is new. If it is not, then they may or may not take it for a trade-in.

 

[headlight]

I have actually traded in two stones to upgrade.
Each time was with a different jeweler, and both times the ring I was trading in was not purchased by that jeweler.
Some jewelers will work with you, some will not, so you just have to find someone that will.
As for appraisal, they will obviously view the ring and make a determination as to whether it is something they want to take in on trade. Obviously, if you have a grading certificate (preferably from a respected lab -- or from a lab they readily use) that will help your cause.
As to trade in value, you are not going to get what you paid. However, if your goal is, as mine was, to get a larger/better/different stone and you no longer plan to wear the ring you are trying to trade (because you will hopefully be sporting a NEW one!) and you just want to have "something" to go toward offsetting the cost of the new ring, then that is what you should expect.
Since I have a "history" of trading in, when I made my last upgrade, I went with a jeweler who actually had a trade-up policy (and a good one at that), so in the future when I upgrade again (which I inevitably will!) I will not lose so much of my shirt in the process. I will get full value for what I paid for this ring toward my new purchase, which I think is very fair.
Good luck in your efforts!

 

[upgrading mama]

as others have said, try the original jewelry store first. OR, you can do what I did. After I went to the original (who said I had to double the value I paid to even get the upgrade, which I was not willing to do...) I went to Toronto, which is the nearest big city to me, and went to the diamond district. I found a vendor I was comfortable with who gave me a good trade in towards making my new ring. It worked out for me by going this route. I definately made out better this way, than if I had gone to the original jeweler.

 

[togal]

Hi Sophie,

I am new to the forum and am looking to upgrade my diamond. I note that you were able to find a vendor at the Toronto diamond district for your trade. I am located very close to that area and am wondering if you could share with me which vendor you used. I am looking for a reputable jeweller who is willing do a trade-up. Thanks.

 

[upgrading mama]

Hi togal,

We used Josephine''s Jewelry, which is the first vendor on the left when you enter from the side where the Eaton Center is located (Yonge St. I think).
The owners are Josephine and Aziz, we worked with Aziz. He is very professional and knowledgable. While I know they are interested in making a sale, he never made us feel that way AT ALL. In fact, he talked to us about all kinds of things, showed us other stoned just for education sake too.

I will definately go back to him for future purchases. Let me know if I can provide any more info!

 

[togal]

Thanks Sophie! I am aware of that vendor (I often poke around the jewellery exchange on my lunch hour). They have beautiful diamonds. I will definately speak to them.

Thanks again!