Diamonds: Is it Time for a Diamond Trade-In?
Like a car, sometimes it’s time to make a diamond trade-in, and when it comes time to make that trade, how do you know you are getting the best possible price considering what you paid? Unlike a car, diamonds don’t lose their value the minute you walk out of the showroom with them on your fingers, wrists, ears or neck and unlike a car, there is no “true price” available for diamonds. Retailers have different prices than wholesalers and e-commerce sites have different prices than everyone else, and each of these outlets have their own rules when it comes to what they will give you based on the cut, color and carat of the diamond you own and whether or not you bought it from them. So, how do you know if you are getting a good deal with your diamond trade-in?
Diamond Trade-In Value
The only way to know for certain that you are getting the best value for your diamond trade-in is to look at the bottom line net difference of what you have to pay out of pocket for the new stone that you are going to trade-in for. It sounds convoluted, but let me make it easier to understand…
Let’s say you have a 1.5-carat diamond that you want to trade-in for a 2-carat diamond. For this example it doesn’t matter what the 4 C’s are. So all things being equal, no matter where you take this stone, all things are equal. What does make a difference is how much you are going to get for the 1.5-carat stone and how much the 2-carat stone is priced at, and that make a huge difference, because that depends on where you are conducting your diamond trade-in.
A retailer might have a 2-carat priced at $20,000 and offer you $10,000 for your 1.5-carat stone. Sounds like a great deal right? You pay $10,000 and walk out with a fabulous new sparkly diamond.
Not so fast.
A wholesaler, like Jonathan’s Fine Jewelers, sells that exact same 2 carat diamond for $15,000 and we offer you $9,500 for your 1.5-carat stone. Now, you might be thinking, but wait, you aren’t giving me as much as the retailer! No, we aren’t, but you are only coming out of your pocket $5,500 for your diamond, which means that your diamond trade-in at Jonathan’s Fine Jewelers is a much better deal.
It’s All About Inventory
Let’s go back to comparing a car to a diamond. When you go to a car lot and they have 20 cars that are identical, except for the interior and exterior color, you know that you can get a better deal on that car, right? It works the same way with diamonds. Many brick and mortar stores and e-commerce sites don’t have a deep diamond inventory, which means that they have to charge a high price for what they are selling. These companies “borrow” inventory when they need it from wholesalers they call on and then will sell it to you at a premium. Some simply sell other peoples diamonds, which means that as other people come to do a diamond trade-in or just a diamond sale, they happen to have that stone in their inventory until they sell it and they don’t hang on to it for very long. And, then there are the companies that have some inventory, but it’s a very narrow range, for instance, they might have an abundance of round diamonds that are over one carat but under 3 carats, because that is what they sell the most of.
This is where Jonathan’s Fine Jewelers is different. We specialize in buying diamonds of all shapes and sizes and are constantly buying diamonds of all shapes and sizes to add to our already large inventory. We can almost guarantee that what you are looking for as a diamond trade-in or even just as a starter stone, we will have in our inventory and that we will also give you the best price on your diamond trade-in. Because of this, we have a unique ability to always meet the customer’s needs, no matter what they are. In other words, we will always have the car you are looking for on our lot!
Our Secret Formula
Now, I’m going to tell you our secret formula, and please don’t spread it around, because I don’t want everyone stealing away our ideas! Our
secret to an exceptionally successful diamond trade-in business is that we sell diamonds at the lowest possible price and offer the highest possible wholesale price for your diamond trade-in. And, we are able to do that because we do have that inventory that I mentioned above.
So, like a good car dealership, when people come to Jonathan’s Fine Jewelers to buy their first diamond, they always come back for a diamond trade-in to buy their second diamond, and those that have come in to sell a diamond also end up becoming customers for life. If you are ready for a diamond trade-in contact us to make an appointment today and let us tell you what we can do for you to put a shiny new diamond on your finger, wrist, neck or ears!