Where to buy used Whiteflash ACA?

[MissGotRocks]

So I had an AGS0 stone that I traded in with Whiteflash for an ACA. I wondered and pondered that same question too for a long time. The answer, much to my dismay, was that yes there was quite a difference in appearance between the AGS0 and the ACA. This comes though from a person that has stared and studied each diamond - when I say I know them personally that is an understatement! Had there been not much visual difference, I would have sent the ACA back and went on my merry way. That was not the case though and I later traded in that ACA on a bigger ACA. Here is a picture that WF sent me of the two stones - again, you wouldn't think there would be such a difference but there truly was.

 

[MarionC]

Why would they be on eBay? They are premium diamonds.

I’ve seen then on eBay, just not very often!

 

[WinkHPD]

<Snip>Since traditionally the man purchases the engagement ring, an ex wife may not know about the buy back policy...

This. I got a call some years ago to do an appraisal upgrade for a man who had purchased a Crafted by Infinity diamond for his fiancé from a lady who had gotten a divorce.

Because the husband had never shared the details of the purchase with his then fiancé, she never learned that she sold the diamond for about half of what High Performance Diamonds would have paid her for the diamond.

Wink

 

[denverappraiser]

Bear in mind that a common condition of buyback and tradeup policies is that they only apply to the original purchaser. This often includes the case with typical engagement rings. HE can return it, SHE may not be able to. Read the fine print. This also comes up when the original buyer or original recipient, assuming they're covered, dies. The heirs may or may not have access to the same offer.

 

[WinkHPD]

I suspect that I am not alone in considering the SHE to be part of the HE when it comes to the coverage. Which is probably one of the reasons I would not have made a good lawyer.

That is a good point though, people should definitely ask.

Wink

 

[denverappraiser]

Trade up/Trade in programs are usually not a great deal for the merchant. If they were, it would be unnecessary to lock it in up front. They do it because of a contractual obligation when they sold it and they entered into that deal because it helped make a sale. There’s definitely an incentive to weasel out of it if they can.

 

[Texas Leaguer]

Trade up/Trade in programs are usually not a great deal for the merchant. If they were, it would be unnecessary to lock it in up front. They do it because of a contractual obligation when they sold it and they entered into that deal because it helped make a sale. There’s definitely an incentive to weasel out of it if they can.

Absolutely right Neil,
It is essentially a one sided contract. The merchant is specifically obligated, but the consumer is not. When it is advantageous for the consumer they will exercise their option. Should market conditions make it adverse for the merchant, they STILL have to honor the contract. And as we know, the diamond market is like any other - it goes up and it goes down.

A 100% trade up means the consumer retains 100% stored value in their diamond. Which means that when diamond prices are lower, they get more diamond for their money. Policies are often designed to mitigate some of that risk to the merchant such as stipulations that the trade-up diamond must be 2x original, or that you must upgrade some combination of color/clarity/size. A simplified trade policy that does not have onerous requirements is a very customer-friendly one, especially if the inventory to choose an upgrade from is ample.

 

[sledge]

Bear in mind that a common condition of buyback and tradeup policies is that they only apply to the original purchaser. This often includes the case with typical engagement rings. HE can return it, SHE may not be able to. Read the fine print. This also comes up when the original buyer or original recipient, assuming they're covered, dies. The heirs may or may not have access to the same offer.

While the fine print exists for a reason, from a consumer's standpoint this just feels slimy. I'd agree with @Wink that most people consider the HE/SHE to be a unit and not honoring the trade or buyback on a technicality would likely leave a very bad taste in that person's mouth.

In a death situation, it seems logical if there is a surviving HE/SHE then that same policy should extend to the survivor. If both parties are deceased, it seems like a current market adjustment for the receiving heir(s) would be implemented.

This raises another question -- how many vendors are actually supplying a written upgrade policy so all parties are aware of the rules they must play by? I know with my BGD stone no written policy was provided in the paper work but I can look online or call Brian or Lesley and they will confirm what I already know. Unfortunately should BGD assume new ownership for whatever reason, the new owner may not honor verbal contracts.

A simplified trade policy that does not have onerous requirements is a very customer-friendly one, especially if the inventory to choose an upgrade from is ample.

Very true. I was just helping another member try to find per carat variances on larger 3-4 carat stones. In a short amount of time, I was able to build a small spreadsheet showing available inventory based on their criteria.

Searching the standard super ideal vendors and RC there was only 44 unique results. Had I taken the time search JA and BN I'm sure I would have pinged a few more results; however, both sites lack an in-depth search criteria (table, depth, crown, pavilion, girdle thickness, fluor levels, etc).

Interesting enough WF had 17 of the 44 stones, or about 39% of the inventory.

https://www.pricescope.com/community/threads/price-difference-per-carat-in-large-diamonds.245052/

 

[denverappraiser]

A common sticky wicket comes up in divorce cases over this. Is a diamond an asset? Usually. Whose? There’s lots of choices here (his because he bought it, hers because it was a gift, joint because they were married) and this is routinely an issue for the judge to decide. Any jeweler with a lick of sense doesn’t want to get into the middle of this, but is a trade-up policy an asset? It might be. If the market value of a theoretical diamond is $20,000, and some jeweler is contractually on the hook for $28,000 if the correct person shows up with it, that contract is 'worth' a fair amount.

The conservative position is to say that the client is the client, and ANYONE else is a 3rd party. These things are not (usually) transferable. I would add, I have a similar policy on on appraisals. I will speak to a client about an inspection or a report or it’s contents. The report SAYS who the client is. I will NOT speak to an ex or even current spouse without specific permission from the client to do so unless they are also listed.

 

[Texas Leaguer]

@sledge I think in the era of e-commerce, the stated policy on the website IS the written policy in effect at the time of the sale. I recommend that people take a screen shot of published policies for their records. Our policy pages feature a date when last updated.

With regard to customer of record, @denverappraiser is right. As a jeweler you don't want to step into potential property disputes. If someone other than the buyer of record wants to execute a buyback or trade we require written permission from the customer of record. That is usually not a problem for a married couple. It CAN be a problem in the case of a divorced couple!

As to what happens to a trade/buyback policy if there is a change of company ownership, the policy would be considered a liability which the new owner assumes. The new owner can of course change any policy as of the date of acquisition, but if they are buying the entire business and carrying it forward, they enjoy the assets but are also responsible for honoring legal representations made by the previous owner. Companies looking to acquire other businesses are keen to understand those things during the due diligence period because it could have a big impact on the value of the business and be a factor in the final negotiated price.

 

[MarionC]

Trade up/Trade in programs are usually not a great deal for the merchant. If they were, it would be unnecessary to lock it in up front. They do it because of a contractual obligation when they sold it and they entered into that deal because it helped make a sale. There’s definitely an incentive to weasel out of it if they can.

I had a verbal contract with a popular vendor because I knew I would want to trade up later. A very specific question to them with a very specific answer back of yes.
Never imagined they would weasel, but darn it they did, and told me to read the fine print on the written contact. So, buyer beware!
(Disclaimer: it is not anyone on this thread! : ) )
And happily, as a result of not being able to trade up, I had to look elsewhere and found my current icon.
Obviously, it did, as someone said, leave a bad taste, and I still feel a little upset. So it is really good to nail down every detail in writing or be prepared for surprises.

 

[caf]

I had a verbal contract with a popular vendor because I knew I would want to trade up later. A very specific question to them with a very specific answer back of yes.
Never imagined they would weasel, but darn it they did, and told me to read the fine print on the written contact. So, buyer beware!
(Disclaimer: it is not anyone on this thread! : ) )
And happily, as a result of not being able to trade up, I had to look elsewhere and found my current icon.
Obviously, it did, as someone said, leave a bad taste, and I still feel a little upset. So it is really good to nail down every detail in writing or be prepared for surprises.

This! Always read the fine print!

CAF (a lawyer)