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Upgrading question: Any vendors accept diamonds not bought from them for an upgrade?

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mcblohe

Shiny_Rock
Joined
Feb 16, 2007
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Hi

I bought a 1.31ct diamond from one of the pricescope vendors here about 2 years back, and would like to upgrade my diamond for a bigger one now. Unfortunately, the vendor i bought from doesn''t have an upgrade policy.
Does anyone know any vendors that would take a GIA certified triple excellent diamond back for a trade in to a bigger diamond??
Thks!
 
I''m trying to do the same thing, but haven''t had any luck finding a vendor. I also have a GIA triple excellent.
 
JA, GOG, and Pearlmans will do so on a case by case basis but you will not get what you paid for it.
 
I think the more marketable the diamond is, the more likely a vendor will bend their rules and take it.

More marketable may not mean the highest grades.
I think an H VS2 is easier to sell than a D IF.

Obviously a desirable size, like 0.76, 1.01, 1.51 etc., a GIA or AGS report, good cut and perfect condition will help too.

Also price is key.
I have to believe that if you offered it at a low enough price, and are trading it in for an expensive enough diamond, anyone would take it.
 
Sort of everybody has an upgrade policy where they’ll buy something you have as partial payment towards something you want. The trick is setting a price. Obviously it would be crazy for them to commit to something that’s a function of what you paid when they had no control over (and no profit in) that original sale so they are going to make a bid based on their current market to resell what you’ve got. You do have a little bit of leverage since you’ll be spending the proceeds with them so a ‘trade-in’ is usually marginally better than an outright sale but the gestalt of the deal is the same. In the end, ring them up and talk to them about it. Expect bids ranging from 50% to 75% or so of what similar goods are selling for now depending on what exactly it is and what you''re buying on the other side of the deal.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 
Great explanation by Neil.
If one paid $5000 for a diamond purchased online- they might only get $2-3000 back from a different vendor on a trade- UNLESS- the item the person trading in wanted to purchase was a far higher price.
To skew it wildly- if you were spending $50k with the new vendor, and your trade in cost $5k, you might be able to recoup a lot of your original cost.
If the new purchase is $6k, you''re in a very weak position with a new vendor.
I agree also that many vendors will be interested in discussing a trade- the exception being the many vendors that do not carry any diamonds- the ones selling off lists.


When people call us askiong this queston ( rather common) we explain that no matter what thier diamond cost, it''s going to sell for a much higher price if an established diamond seller is offering it.
For example- the same diamond being offered by "Well known Internet Diamond Seller inc" for $5000, might bring ojnly $3000 if it''s on Craig''s list
 
Date: 10/21/2009 2:18:40 PM
Author: Rockdiamond

To skew it wildly- if you were spending $50k with the new vendor, and your trade in cost $5k, you might be able to recoup a lot of your original cost.

If the new purchase is $6k, you''re in a very weak position with a new vendor.

Rock,

This might be true for exclusive goods, but margins on virtual inventory tend to shrink as the price point goes up. I don''t think it''s unusual to see a $50k stone sold for $1k over cost. When that''s the case it really doesn''t matter what the customer is buying.
 
In the same boat, I have an oval 1.11, G, VS1 that I want to upgrade to close to 2ct round but hard to find someone to take it in on trade.
 
Date: 10/21/2009 8:24:53 PM
Author: James Allen Schultz

Date: 10/21/2009 2:18:40 PM
Author: Rockdiamond

To skew it wildly- if you were spending $50k with the new vendor, and your trade in cost $5k, you might be able to recoup a lot of your original cost.

If the new purchase is $6k, you''re in a very weak position with a new vendor.

Rock,

This might be true for exclusive goods, but margins on virtual inventory tend to shrink as the price point goes up. I don''t think it''s unusual to see a $50k stone sold for $1k over cost. When that''s the case it really doesn''t matter what the customer is buying.
HI Jim,
As my signature indicates, I''m David
35.gif


AS I pointed out, a dealer that sells off a virtual list will not want to get involved in such a deal.
Dealers that stock $50,000 diamonds would be far more willing to do so.
That''s the type of situation where a consumer might be able to re-coup their initial investment on a trade up.
 
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