5 Things You Must Know To Not To Get Scammed Buying A Previously Owned Engagement Ring Online

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5 Things You Must Know To Not To Get Scammed Buying A Previously Owned Engagement Ring Online

  1. Know The Difference Between Natural and Lab-created Used Diamonds

  2. Know The Difference Between Treated Natural Pre-Owned Diamonds and Untreated Natural Previously Owned Diamonds

  3. Understand That All Gemological Grading Reports are Not Equal

  4. Does The Online Marketplace For Second-Hand Jewelry Require Your Purchase to Be Inspected By An Independent Lab Or An In-House Employee?

  5. How to Educate Yourself About Used Diamonds Before Purchasing Pre-Owned Jewelry Online. 

Diamonds are complex and mult-faceted purchases, and there are many ways sellers can misrepresent used loose diamonds to the unsavvy consumer hoping to buy used jewelry to save money and score a deal. 

America’s used diamond market is the largest used diamond market globally. Unfortunately, it is also an incredibly complex market to grasp without a guide to recycled engagement rings. Our guide gives you insight on a few of the tricky ways that sellers can fool you into thinking what you have purchased is a pre-owned engagement ring at an exceptionally low price. 

5 Must-Know Tips For Diamond Jewelry Buyers

Tip 1.  Know The Difference Between Natural Diamonds And Lab- Created Used Diamonds

A lab-created diamond is chemically identical to an natural diamond. They also look identical. 

Think of the difference between a natural diamond and earth-mined diamond as the difference between a vintage Ferrari and a a vintage Ferrari replica. The replica looks, drives, and feels like the real thing and costs a fraction of the price. So, what is the problem? 

If you’re buying a copy and are happy, that’s fine, but if you think you’re buying a real vintage car and are sold the replica at the vintage price, you would understandably be upset. Selling lab-created diamonds as (or at the same price) as natural diamonds is one of the traps that online retailers lay for the unsuspecting consumer. 

Beyond that, lab-created diamonds are becoming less and less costly to produce every year, meaning the value of your lab-created diamond will likely decrease as time goes on. More players are making them in increasing amounts as the technology gets less expensive. Therefore, their value will continue to recede. 

Unlike a rare vintage car that goes up or tracks with inflation, a manufactured diamond is a depreciating asset, similar to aa home appliance purchase.

 As production increases, lab-created diamonds will become more available and less valuable each year, leading to an ever-decreasing jewelry resale value. Also, if you were to try to sell them, there’s very little understanding in the wholesale market as to what their value might be. As a result, there are far fewer interested buyers to purchase them compared to a natural diamond. Therefore, lab-created diamonds carry financial risks, significant loss, and we strongly recommend that you do not purchase them. 

Tip 2.  Know The Difference Between Treated Natural Diamonds And Untreated Natural Diamonds

If you decide to buy a repurposed diamond online or a pre-owned wedding band, please read the fine print with the listing when going forward with purchasing a used diamond ring. 

An inexpensive used diamond engagement ring can be, and likely is, treated. “Treated” is a term used to describe one of the following alterations to natural earth mined diamonds:  fracture filling, laser treatment, irradiated,  and coated. 

A reputable gem lab will not even grade the majority of these diamonds, except for laser treatments. The treatment alters the appearance of the diamond and significantly reduces its value. 

We do not recommend you purchase any of these treated diamonds. We believe they should be flagged by the sites handling them. Their resale value is low to nothing. Reputable sellers do not carry treated diamonds. 

Tip 3. All Gemological Certificates Are Not Equal In Their Grading Standards

So, you purchase a recycled engagement ring online or second-hand diamond earrings and see that it’s graded: color f, vs2. 

Did you know that some labs might grade this stone in a different color and clarity based on the caliber of the lab? 

The following is a list of labs and their commonly understood standing in the diamond industry. We believe that the diamond grading is inaccurate below a third-tier lab. 

Top Tier: GIA

Second Tier: AGS, HRD, GCAL

Third Tier: IGI, PGS

Fourth Tier: GSI

Fifth Tier: EGL

Given that we strongly recommend you…. 

Tip 4.  Does The Online Marketplace For Preowned Jewelry Have Your Used Diamond Inspected By An Independent Lab Or An In House Employee

When purchasing a used diamond online, it should be inspected by a reputable gem lab not affiliated with the marketplace. An in-house employee is not an ideal party as they may approve the sale of your used diamond to earn a commission. 

Likewise, as per the point above, there’s a hierarchy of grading labs and we strongly recommend that you always get your diamond graded and only use the top quality of grading labs. 

Tip 5. You Must Educate Yourself About Used Diamonds Before Purchasing 

You can buy from a reputable online marketplace. Still, to be ultimately successful, especially when navigating the complex world of diamonds, it pays to know what you’re getting into.  

If you made it this far, you have begun this process and started the steps to buy a used diamond successfully. 

We offer tons of other content for buyers and sellers of used diamonds and used rings. 

We also provide a vetted secure marketplace to help you go forth and shop confidently, buying used jewelry. 

We are here for you, so feel free to reach out with any questions. 

We’re proud to be from a legacy dating back to 1857 and take pride in giving you the tools to be an educated consumer of used diamonds and second-hand jewelry. 

The following are some additional resources we recommend you educate yourself with when shopping for recycled engagement rings:

Additional Resources for Used Diamond Buyers:

In-Depth Resource for Buyers of Repurposed Diamonds: 

For our complete guide on how to buy a used or second-hand diamond online: https://www.diamocycle.com/a-guide-to-buying-a-used-diamond. 

In this guide, we tackle where and how to buy a diamond online, and questions like should you ever purchase diamonds on eBay, and are diamonds on eBay so cheap?

Basics Diamond Knowledge with courtesy of the GIA: 

To help with a basic understanding of diamonds, we suggest you look at this educational page. https://www.diamocycle.com/a-guide-to-your-diamonds. 

Here you will learn GIA clarity characteristics and a GIA diamond grading chart. The GIA is the foremost diamond laboratory that certifies diamonds in the world. 

Should I Buy A Diamond Near Me Or Consignment Jewelry Near Me?

This guide can also help with your local purchase of a used diamond near you. You can be fully knowledgeable when shopping places that buy and sell jewelry. 

Check out this guide for a detailed guide on buying and selling a diamond near me in a pawnshop. https://www.diamocycle.com/diamocycle-dispatch/sellingorbuyingpawnshop .

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