What does Tiffany and Whiteflash do with trade-in Diamonds?

[thekwon]

What does Whiteflash and Tiffany do with trade ins? Do they clean them and sell them again as new?

 

[lovedogs]

It will be a lot easier if you consolidate questions into one thread rather than starting so many new ones and having people post similar stuff in multiple places.

You seem uncomfortable paying the price for an ACA, so I would recommend telling us your budget and preferred specs so we can find you something great in your preferred budget.

 

[thekwon]

Thanks, Love dog. Not sure what the etiquette is here. Some forums ask to keep each thread to a single question/topic.

I’m trying to understand where value can be found with and without work. I can afford and would be “comfortable” buying a new 3ct Tiffany if I saw it as value. Budget and price range aren’t what I’m after here. Im trying to find value.

 

[MakingTheGrade]

Value can be very subjective
For example some PSers would not consider a GIA ex/ex/ex cut that’s 50% off retail “value” if the diamond was too leaky because no matter what the cost, it would be money wasted since they wouldn’t want to wear a diamond that didn’t perform optimally.

For me a 10k 2.25 ct M super ideal diamond seems a good value but for some it’d seem a waste of money since they could never tolerate an M.

I recently bought a 2.2ct fancy light yellow marquise diamond for a good price. Good value for me but I’m sure many wouldn’t even want to spend 1k on that stone because they hate the color or cut.

 

[thekwon]

Thank you and agree it all very subjective and maybe a good topic for another post.

Here I’m looking to understand what Tiffany and Whiteflash do with their trade ins. Not because I want to buy one from them (I know they don’t sell 2nd hand) but am curious if they are reselling trade-ins as new after reconditioning them.

 

[foxinsox]

I’m trying to understand where value can be found with and without work. I can afford and would be “comfortable” buying a new 3ct Tiffany if I saw it as value. Budget and price range is not what I’m trying to figure out. Im trying to find value.

Realistically there is no inherent value in a diamond. It’s not an investment either unless you have something iconic or something D, FL and large. Even then, it’s usually a terrible investment.
Value is subjective. For some, the most value lies in a brand name like Tiffany or Cartier. For others, value lies in having a super ideal cut like the ACAs.
So you’re probably the only person who can actually answer for you - what do you consider valuable? Are you buying for you or as a gift? If it’s as a gift, what does the recipient value?
And btw, I’m sure all the diamond vendors clean, recert and remarket any diamonds they take as trade-ins. It’d be a terrible business model otherwise.
None of the companies market diamonds as new items when you look on their sites or advertising material and all natural diamonds are inherently old having been formed millennia ago. So the idea of a ‘new’ diamond is an odd one to me

 

[elliefire99]

Here I’m looking to understand what Tiffany and Whiteflash do with their trade ins. Not because I want to buy one from them (I know they don’t sell 2nd hand) but am curious if they are reselling trade-ins as new after reconditioning them.

Thank you for the clarification.

I don't know much about the specific business practices of either company unfortunately, but reading between the lines here, am I understanding correctly that you value a "new" diamond? In other words, to you, a diamond that had been freshly cut from the rough and never owned previously as a cut stone has more value to you? Just trying to get a feel for your parameters here since, as stated above, "value" is so subjective.

Would you be opposed to a pre-owned diamond that had been re-cut/re-polished/refurbished by the company?

I would say that most people here on this forum would value good cut and quality over new/used condition. In fact, a lot of trading, buying, and selling of each other's jewelry happens in the pre-loved section. In most cases, people here will likely value the quality of the diamond (in terms of the stone itself and its cut) than its brand or history. There's no wrong answer (again, value is subjective), but just giving you an idea of the kind of advice you are likely to receive on any one of your threads.

 

[bmfang]

I have read that Tiffany do not resell traded in diamonds as center stones for solitaires etc. Instead, they get used as side stones or in other pieces of jewellery.

As for WF, I have a feeling that the stone will be checked for any issues (chips, surface scratches) and then resent back to AGS to recheck the grading. Then back on the market. I have seen that before on a BGD stone that someone saw but I noticed that on desktop, a more recent dated AGS report showed up but an older report (same number though) showed up on mobile.

 

[LLJsmom]

Thank you and agree it all very subjective and maybe a good topic for another post.

Here I’m looking to understand what Tiffany and Whiteflash do with their trade ins. Not because I want to buy one from them (I know they don’t sell 2nd hand) but am curious if they are reselling trade-ins as new after reconditioning them.

Ok, as far as I can tell, of course they would resell a diamond that has been returned for an upgrade. They probably just make sure the specs are consistent. If they are willing to take a diamond back, it’s because it’s still completely the same as when they sold it. I bet there are cases where a company has worked with high end customer but for our purposes they require the diamond be returned with the same specs. They check it. If you bought it at 2.5 carats and you tried to return it at 2.3, they aren’t a bunch of idiots. It’s not gonna work out. It’s a diamond so obselecence or wear and tear are not relevant, at least not for the diamonds that are taken back for an upgrade. Unless the company decides they don’t like the cut of the diamond in the first place there is no “refurbishing”. It’s not an iPhone. And as @foxinsox says, diamonds are not “new”. They’re older than my great grandmother. I have heard of older stones, original old European cuts that have been worn for a hundred years, cut before MRBs, get cleaned up, repolished and then graded. That is not what you’re looking for and in any case the current report would be based on the diamond in its current state. So it sounds like you’re trying to figure out if these companies sell diamonds that have been returned for an upgrade at a lower price because they are “used”? Thus that equates to getting “value” in your purchase? Ummm yeah. No. With diamonds, it doesn’t really work that way.

 

[bmfang]

...
I’m trying to understand where value can be found with and without work. I can afford and would be “comfortable” buying a new 3ct Tiffany if I saw it as value. Budget and price range aren’t what I’m after here. Im trying to find value.

This reminds me of a convo I had with my wife recently re: cars. She was saying that an Audi or BMW was better value than a Japanese or Korean car.

To an extent, yes she’s right. These European marques do have better resale value for some models and horrendous for others. And if you are dead set on getting one of these cars, you find value in the name of the marque.

But if here in Australia I am wanting to get a relatively compact hatchback, I could spend money on a base model Audi A3 which would be lacking on certain features (particularly safety ones that need to be optioned on) that could be found on a fully specified top model Mazda 3. But it has the four unopened condoms logo on the front of the car (better than a Buick which has what looks like... erm... used ones on the badge, but I digress...). And the Mazda would be undeniably cheaper than the Audi. For me that’s value, for my wife she can see that as well, even if her perception of value is different than mine.

I tend to look at feature sets vs price and work out value there. My wife will do that for some things but for other things, she values brand more than actual hard data.

 

[david b]

What does Whiteflash and Tiffany do with trade ins? Do they clean them and sell them again as new?

Diamonds and timeless, they were lying in mother earth for millions of years, found and polished, there is no "used" diamond, if it is whole with no chips there is just one thing to do - making a new certificate.

 

[rockysalamander]

Any diamond you trade-in has the high likelihood of being resold. Tiffany re-papers their own diamonds and I don't believe for a moment they don't resell stones. Not to do so would be utter, financial nonsense. But, the same is true of any cut diamond you buy on the open market. Any vendor can send a stone to a grading house and ask for a new grading. That, essentially, gives the stone a new birthdate. Vendors can sometimes track that, but not always.

If being the first wearer of a diamond is important (not owner, as cut stones can go through many hands from rough to final seller), then you would be best to work with a small super-ideal vendor (HighPerformanceDiamonds, Whiteflash, Brian Gavin, VictorCanera, etc.) or a smaller custom cutting house (AugustVintage, GemConcepts) where they can actually track a rock from market to their offices.

 

[whitewave]

I would believe Tiffany does the same as everyone else. They check the stone to make sure there is no damage, they send it back to the lab to be re graded and then it goes back on the market.

Most diamonds don’t have wear and tear like cars or purses etc.

 

[AprilBaby]

I do believe the poster is looking for a deal on a used stone, therefore trying to find out where they go to get one.

 

[bludiva]

The only deals to be had on something like this imho would be buying from a private party and that has its own dangers/pitfalls. There are a lot of pre-loved Tiffany diamonds available so sorting through those with the ideal cut parameters as a guide could yield a nice diamond at a discount over retail.

 

[AprilBaby]

Does anyone remember a thread where someone got a super idea as a “deal?

 

[clcat120]

I have openly traded up diamond at Tiffany before. I made a friend with my Ring #1 Rep., and returned for a bigger stone within one year. He took my Ring #1 back (examined), and gave me the full value for Ring #2. However, I believe the general policy is that the new merchandise of 2x the value of the goods to be traded in. I think this also only applies to their high-end jewelry including engagement rings. Double check, and the policy may have changed. I did my trade-in about 3-year ago at the Fifth Avenue store.

Also, Tiffany employees can get up 50% employee discount...That tells you how much margin they are charging a regular customer...

 

[CareBear]

@thekwon Unless being sold by an individual, 'used' rings are sold at a discount, not 'used' diamonds. 'Used' diamonds get re-certified and are sold at market price. The reason why that pre-owned Tiffany ring is priced at $24K is because if the vendor took the stone out of the Tiffany setting, the stone is worth approx $24k.

 

[AdaBeta27]

Short answer: It gets re-graded and sold with the new report.

Long answer: Of course dealers resell them. They send the stone out to a reputable lab, have it graded, then wholesale or sell it with the current report. Sometimes diamonds that have been worn have abrasions or chips that reduce the clarity from what was on the previous report. Sometimes that's left as-is and the updated grade given takes into consideration the less than perfect polish, or chips or blemishes. Sometimes that kind of wear is dealt with by re-polishing, or re-cutting, which might reduce carat weight and/or change the faceting and proportions of the diamond. Recutting might change the cut grade.

Diamonds are millions of years old before they are ever pulled out of the Earth. There have been some diamonds on Pricescope that were traded in on upgrades, then later purchased by other Pricescopers. Sometimes multiple times. Some people have issues with "used diamonds" and their own superstitions. Others don't.

If you want "value" my suggestion is to go down to SI2 or even I1 clarity, not totally eye-clean under all situations or intense scrutiny, but the inclusions hide well. That can literally cut the price of a superideal in half, compared to VVS or VS clarity range. Some people have issues with "mind clean," where any imperfections must be completely invisible. Personally, I'm okay with a discrete dark crystal or two that remain "hidden" most of the time and don't call attention to themselves. I don't sit staring at my diamonds at close range all day. I don't allow anyone else to do that, either, lol. So, if it looks magnificent at 1-3 feet away, I'm good with that. I don't want any cluttered diamonds with haze or cloudiness or crap scattered all over the place. I go for ones that are 100% clean and transparent except that one place where that dark speck is.