What is a typical diamond trade-up policy?

[diamondlil]

What is a typical diamond trade-up policy? Do most vendors give full credit for your initial price paid? For life? I pulled out my paperwork and read the "fine print." The jeweler I purchased from will give me what I paid minus 15% toward any upgrade in the future.




I puchased before I found Pricescope so I would probably do it a little differently now. A friend who made a "maul" purchase said she could upgrade but has to spend twice what she originally spent. That seems ridiculous to me, so I guess minus 15% isn''t that bad, is it?

 

[niceice]

Actually 15% is a reasonable re-stocking fee for a trade-in policy, we charge a 10% re-stocking fee http://www.niceice.com/trade_in_policy.htm and most dealers have to if they operate their business in a legitimate fashion and re-sell used diamonds as used... The reality is that a diamond could be re-sold as "new" without anybody knowing it by simply having the lab report updated and if the characteristics of the diamond have not changed since it was sold, nobody would be the wiser. But the fact is that customers have the right to know that the diamond they are purchasing has been previously worn and as such they expect to pay a little less for it than they would a new diamond of comparable quality. The 10% re-stocking fee that we charge goes towards the cost of updating the lab report and enables us to resell the diamond at a discount... Dealers who don't charge a restocking fee may seem more appealing at first glance, but then who's to say that the diamond you are buying hasn't been sold before and traded back in? We sell all of our trade-in's as "consignments" which are clearly listed as such so that there can be no misunderstandings: http://www.niceice.com/certcopies/ags0001477605/index.htm we feel that this is how business should be done.

 

[Mikesgirl]

never mind