Which PS dealer has the best upgrade policy?

[Irishgrrrl]

DH and I have been seriously considering upgrading my e-ring. Our fifth anniversary will be in July, so I''d love to do it then if everything works out. My current e-ring was purchased long before I discovered PS, so I can''t trade it in on a new one (nor would I want to . . . I intend to keep it forever and wear it as a RHR). However, the new diamond would need to be eligible for future upgrades. We''re just doing very preliminary research and trying to decide which vendor to go with. In your experience, which PS vendor offers the best upgrade policy and why do you think so? (For reference, we would be looking at eye-clean radiants or cushions with a color of H or above, probably in the 1.00 to 1.50 carat range.)

Thanks everyone!

 

[starshine]

I think GOG''s is pretty awesome...you can trade it for a diamond of equal or greater value! I think WF''s policy is that the diamond you are trading for has to be a certain amt more than the value of your diamond. GOG has a buy back policy as well.

http://www.goodoldgold.com/About_Good_Old_Gold/Policies/

 

[Lorelei]

Date: 2/8/2010 10:23:11 AM
Author:Irishgrrrl
DH and I have been seriously considering upgrading my e-ring. Our fifth anniversary will be in July, so I''d love to do it then if everything works out. My current e-ring was purchased long before I discovered PS, so I can''t trade it in on a new one (nor would I want to . . . I intend to keep it forever and wear it as a RHR). However, the new diamond would need to be eligible for future upgrades. We''re just doing very preliminary research and trying to decide which vendor to go with. In your experience, which PS vendor offers the best upgrade policy and why do you think so? (For reference, we would be looking at eye-clean radiants or cushions with a color of H or above, probably in the 1.00 to 1.50 carat range.)

Thanks everyone!

Hi Ms Emm!

The following vendors all have upgrade policies but read the terms and conditions of each as some vary, and check when you are ready to purchase a particular diamond that the upgrade policy applies.

www.whiteflash.com

www.goodoldgold.com

www.briangavindiamonds.com

www.highperformancediamonds.com

www.jamesallen.com ( I believe you need to spend 50% more on the new stone to be eligible)

 

[Irishgrrrl]

Thank you, ladies! I checked the policies of all of the vendors listed in Lorelei''s post, and it looks like all of the vendors give 100% credit for the purchase price of your original diamond toward a new diamond of equal or greater value. The only exception is James Allen, which apparently requires that the new diamond be at least twice the price of the diamond being traded in! I think I''ll stay away from James Allen for that reason, and I''ll probably stay away from HPD since I''m not looking for a round or a princess. But I''d love to work with WF again, or BGD or GOG, and all three of those are looking like great options for us! Thanks again!

 

[Allison D.]

Date: 2/8/2010 11:10:46 AM
Author: starshine

I think WF''s policy is that the diamond you are trading for has to be a certain amt more than the value of your diamond.

Just to make sure this isn''t confusion on this.......

On ACA and ES stones, the trade-up is automatic and only has to be greater than the value of your current stone. There is no stipulation about having to meet a minimum $$ increase.

Premium Select and virtual stones may qualify for trade-up upon approval (meaning not automatic), and the trade-up terms may or may not require a minimum $$ increase, depending on the diamond.

 

[Irishgrrrl]

Date: 2/8/2010 11:30:08 AM
Author: Allison D.

Date: 2/8/2010 11:10:46 AM
Author: starshine

I think WF''s policy is that the diamond you are trading for has to be a certain amt more than the value of your diamond.

Just to make sure this isn''t confusion on this.......

On ACA and ES stones, the trade-up is automatic and only has to be greater than the value of your current stone. There is no stipulation about having to meet a minimum $$ increase.

Premium Select and virtual stones may qualify for trade-up upon approval (meaning not automatic), and the trade-up terms may or may not require a minimum $$ increase, depending on the diamond.

Thank you, Allison! This is great info and I''ll definitely keep it in mind. I''ve worked with WF twice in the past and have been THRILLED both times!

 

[starshine]

Thanks for clarifying Allison! Good to know should I decide to upgrade my ACA studs...

Can''t wait to see your upgrade Irishgrrrl!

 

[Sizzle]

Date: 2/8/2010 11:30:08 AM
Author: Allison D.

Date: 2/8/2010 11:10:46 AM
Author: starshine

I think WF''s policy is that the diamond you are trading for has to be a certain amt more than the value of your diamond.

Just to make sure this isn''t confusion on this.......

On ACA and ES stones, the trade-up is automatic and only has to be greater than the value of your current stone. There is no stipulation about having to meet a minimum $$ increase.

Premium Select and virtual stones may qualify for trade-up upon approval (meaning not automatic), and the trade-up terms may or may not require a minimum $$ increase, depending on the diamond.

Allison,

I think it should also be mentioned that the offers given to "outside" stones is not the same upgrade policy. I was disappointed to find that I could only get a 70% trade in value on future upgrades if I selected a stone that was not in the inventory.. This was very disappointing and ultimately stopped my upgrade. If you tend to pick stones "outside of the defined ideal", upgrading might be a bit harder

 

[Dreamer_D]

Irishgrrrl If you don''t want a round, then I personally would go with GOG. They seem to have the largest selection of non-rounds in house, which I like.

 

[Allison D.]

Date: 2/8/2010 11:57:38 AM
Author: Sizzle

Date: 2/8/2010 11:30:08 AM
Author: Allison D.

Date: 2/8/2010 11:10:46 AM
Author: starshine

I think WF's policy is that the diamond you are trading for has to be a certain amt more than the value of your diamond.

Just to make sure this isn't confusion on this.......

On ACA and ES stones, the trade-up is automatic and only has to be greater than the value of your current stone. There is no stipulation about having to meet a minimum $$ increase.

Premium Select and virtual stones may qualify for trade-up upon approval (meaning not automatic), and the trade-up terms may or may not require a minimum $$ increase, depending on the diamond.

Allison,

I think it should also be mentioned that the offers given to 'outside' stones is not the same upgrade policy. I was disappointed to find that I could only get a 70% trade in value on future upgrades if I selected a stone that was not in the inventory.. This was very disappointing and ultimately stopped my upgrade. If you tend to pick stones 'outside of the defined ideal', upgrading might be a bit harder

Sizzle, the portion of my comment that I've highlighted actually notes that....the terms may differ. "Outside" or virtual stones are considered at time of purchase. Depending on the parameters of the stone, the trade-up options may or may not look similiar to our inhouse stones.

If it's a stone that will appeal to a very narrow resale market (as is the case with the size/shape/color combination you were considering), it's more likely the trade-up terms will be less broad than our inhouse offerings.

The degree to which the terms vary from the ACA/ES policies depends on a few things, including our then-defined inventory focus and the potential scope of the resell audience for the stone.

 

[CharmyPoo]

Off the top of my head, these are the things that I would consider as part of the upgrade policy:

1. Do you get full value for your diamond? Is it the current market value or the price that you paid?
2. As part of the upgrade, how much does the new diamond need to be? Same price or a defined amount more expensive than the current diamond.
3. Does the vendor sell the shape or type of diamond you might want to upgrade to? Ex. a vendor is a fancy diamond expert but not known for their rounds - would you go with them?
4. What is the long term viability of the vendor? Are they going to be around 10 years from now? 20 years?
5. Does the policy at the time of purchase apply throughout the lifetime of the diamond? Or are you subject to changes in the policy - example increases in the upgrade amount.
6. Projected growth or changes with the vendor - is the vendor known to constantly strive for improvement or does it seem like they are going downhill?

 

[autumngems]

Been wondering this myself.

Here is ERD''s
Mark Turnowski, Inc. offers a trade-up for the full value of the loose diamond.
"Full Value" applies to the value of the loose diamond at the time of purchase.
Trade-Up Purchases require a minimum added value of 40% of the original purchase price.

 

[Laila619]

Date: 2/8/2010 12:00:45 PM
Author: dreamer_dachsie
Irishgrrrl If you don''t want a round, then I personally would go with GOG. They seem to have the largest selection of non-rounds in house, which I like.

Ditto. GOG is great!

 

[Irishgrrrl]

Thank you, everyone! You''ve all given me some great info, and some things to think about while we''re looking. So far, based on upgrade policies and the likelihood of finding a radiant/cushion that we like, the vendors that we''ll be considering are (in no particular order):

1. Whiteflash
2. Good Old Gold
3. Brian Gavin Diamonds
4. Engagement Rings Direct

I think those four have upgrade policies that we could potentially be happy with, and they are all good possibilities for finding a stone of the parameters that we''re looking for. (For example, we''re not considering High Performance Diamonds only because they specialize in rounds and princesses and those aren''t the shape we''re looking for. Otherwise, HPD would definitely be on the list as well!)

Thanks again for helping me out with this!