You’re at the right place if you’re wondering if lab grown diamonds have a resale value. Read on.
In this guide, we’ll answer some of the most frequently asked questions about lab grown diamonds and their resale value including:
- How can I get a pre-owned lab grown diamond?
- Are lab grown diamonds valuable?
- Where else can I sell back a lab grown diamond?
Let’s jump right in, shall we?
Lab Grown Diamond Resale Value
Are Lab Grown Diamonds Valuable?
When you google this question, you’ll probably get a lot of answers saying lab grown diamonds are not valuable. Is this really true? Is the resale value of a lab created diamond $0? You can’t stop but wonder!
Lab grown diamonds are not entirely worthless.
Their cost tends to fluctuate since producing colorless lab created diamonds is relatively easy as compared to producing natural colorless diamonds. For this reason, most retailers selling lab grown diamonds neither offer nor upgrade trade-in policy.
Can You Sell Back Lab Grown Diamonds to Jewelers?
You’re highly unlikely to find a jeweler that would want to buy back lab grown diamonds for cash. Don’t fret, there are a few companies like Ada Diamonds that you can check out in such a scenario. They can buy independently graded lab created diamonds especially if they meet their standards.
You can sell your lab grown diamond ring at the pawn shop like you would a natural diamond engagement ring. Neither will you get anything from private bench jewelers.
Do Lab Grown Diamonds Have a Resale Value?
Most diamond retailers believe that lab grown diamonds have no resale value. Not quite! As earlier mentioned, there are jewelers that can buy back lab grown diamonds albeit at a lower cost. This means that you might have to manage your expectations.
There are a number of places you might want to explore if you’re looking to resell lab grown diamonds. However, only garage sale pages will be available for you. Poshmark, Mercari and Facebook Marketplace are some of the places you’ll need to explore.
Alternatively, try out any sales pages dealing with different pre-owned items. At the moment, the aforementioned ones are the most popular. You’re likely to receive more if you had a 2-carat lab created eye clean diamond with color D grade.
RECOMMENDED: Should You Buy a 2 Carat Diamond?
Ask for a Copy of the Receipt
Never purchase a lab-created diamond from a seller without the original or a copy of the receipt. Keeping the receipt after the purchase helps deal with issues that might arise with warranties or original retailer. You can as well match the SKU to how the ring looks.
Skip it if a customer says they don’t have any paperwork. Don’t make any purchases blindly.
Get in Touch with the Company
It may be helpful to do some research on and get in touch with the manufacturer of the pre-owned lab-created diamond ring before making the purchase especially if you aren’t sure about its origin.
Even though you might not be familiar with the name, doesn’t necessarily imply that it’s not an authentic diamond. Most lab grown diamonds are usually bought from online diamond retailers.
Verify the company’s reputation by going through a couple of customer reviews to make sure it meets your standards. Reddit is one of my go-to resources for authentic customer reviews.
Go through the comments to check out what people are saying about the diamond rings and engagement rings especially in the subreddit section of r/Engagement Rings and r/Diamonds rather than the potentially stuffed company’s website.
In addition, get in touch with the company to ask everything you need to know about a buyer looking to transfer their buy to you. It could be information about inspections, cleanings and warranties among others. They can also help have it changed to your name.
However, they may ask the original buyer to give them a call for approval. In this case, the retailer will let you know. This way, you’ll know exactly what’s need to transfer ownership from the previous buyer to avoid scams.
Always Meet at the Jewelry Store
Always meet the buyer in a public place regardless of what you intend to buy from them locally. That is for your own protection. It’s a smart idea to tag a friend along if you can.
Lab grown diamonds are real diamonds that can still be altered or stolen. It’s always best to have a second party to watch your back even if you think you’re strong enough. In this case, meeting at the pawn shop or jewelry store comes highly recommended. Its’ even better if the buyer is a jewelry retailer.
Most Kay Jewelers customers usually bring in potential buyers from different marketplaces like Facebook to ensure the store confirms that they’re the original sellers and the paper work is equally legit.
What’s more, you can physically look into the report numbers or do it online if the need arises. All you have to do is use the Gemscope to match the numbers on your diamond. In so doing, you can exchange items without worrying about having your own jeweler’s loupe. Plus, it helps prevent disturbances.
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Most jewelry stores usually have security cameras and that’s a plus when it comes to protection. The jewelry store can have a diamond tester at their disposal or you can carry your own. It’s a handy tool since it’ll help you know whether your buy is a genuine diamond or diamond simulant like moissanite or cubic zirconia.
Are Lab Grown Diamonds Worthy Investments?
Whether or not lab grown diamonds are worth the value of money depends on its intended use. It’s probably a waste of money if you’re getting them as an investment. The same goes for lab created diamonds.
Gemstones usually don’t make excellent investment options and diamonds are no exception. However, gem appraisers and gemologists are given some exceptions.
In auctions, fancy colored diamonds tend to have higher resale values but they’re equally expensive when you choose to buy upfront. You shouldn’t buy a lab created diamond engagement ring as a viable alternative to natural diamonds that are mined.
You’ll not be wasting money if you know the origin of the diamond especially if it’s a lab grown piece. Put your money to good use by going for lab grown diamond pieces since they fall on the lower side of the spectrum in comparison to their natural counterparts.
However, it’s important to remember that lab grown diamonds have very little to no resale value. However, it’s not entirely true that lab grown diamonds are a waste of money. Besides, these diamonds are changing the industry dynamics rapidly. This means that things might probably change along the road especially in terms of their resale value.
Perhaps even more diamond retailers will consider adding upgrade policies and trade-ins. One never knows!
Advantages and Disadvantages of Buying Lab Grown Diamonds
Advantages
- They’re environment friendly
- They’re 100% ethical
- Lab grown diamonds have great diamond color and clarity
- They have the same hardness rating and durability like their natural counterparts
- You can get lab grown diamonds in large carat weights at reasonable prices
- Lab grown diamonds are relatively cheaper than natural diamonds of the same grade
- Fancy colored lab grown diamonds fall on the lower side of the pricing spectrum unlike natural colored ones.
Disadvantages
- You can’t resell lab grown diamonds to pawn shops or jewelers
- A lot of energy is used to create them
- Most companies don’t accept trade-ins and neither do they have upgrade policies.
Best Places to Buy Lab Grown Diamonds Online
By now, you’ve probably made peace with the fact that lab grown diamonds aren’t great resale items or monetary investments. Sometimes the benefits of buying lab grown diamonds outweigh their resale value. Listen up if you can relate!
Thankfully, there are many online diamond retailers out there with more popping up with very waking dawn. That’s why choosing the best places to buy lab grown diamonds online is quite challenging. Don’t fret, we did the legwork for you to help narrow down your choices.
Here’s a highlight of some of the best places to buy lab grown diamonds online:
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James Allen
James Allen is the online premiere source for relatively cheaper diamonds with a dozen selection in their inventory. Plus, the brand carries both fancy colored and colorless diamonds with 360-degrees viewing. They also have a range of loose diamonds which means there’s a variety to choose from.
The best thing about James Allen is that they have a free lifetime warranty for their ring settings. The warranty covers tightening diamonds and rhodium plating.
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Brilliant Earth
Save for colorless diamonds, Brilliant Earth also carries fancy colored lab grown diamonds in a range of colors. Plus, they help solve the problem concerning the ethical resale value. Most people avoid getting natural diamonds owing to their high prices and mining ethics.
Blockchain diamonds from Brilliant Earth are usually tracked in different diamond phases in a system that cannot be hacked.
Conclusion
Knowing what you know now about lab grown diamonds and their resale value, do you think it’s wise to choose them over their natural counterparts?