Q: What do you replace my diamond with?
A: Your diamond will be replaced with a gemstone called moissanite. Moissanite is virtually indistinguishable from a natural diamond. Even professional jewelers require a jeweler’s eyepiece to tell them apart! Moissanite is known by its technical name of silicone carbide. Moissanite stones are created in a laboratory process and then hand faceted by master gem cutters to bring out its natural brilliance. We at Trade In My Diamond have chosen moissanite to replace your diamond because there is nothing else that can match its durability, brilliance, and clarity. To learn more about moissanite, click here.
Q: How safe is the replacement process?
A: Our jewelers have been in the jewelry repair and replacement business since 1910. Before we replace your diamond, we will evaluate the condition of the jewelry piece to be sure it is in condition to allow for removal of the existing diamond and replacement with moissanite.
Q: Can you replace my diamond with a larger size moissanite stone?
A: We can certainly try. It will depend on your jewelry and whether or not your piece can withstand a larger setting. If you are interested in this option, please let us know in the “Note” section in the form to the right.
Q: I have a GIA Certificate for my diamond. Should I send you that as well?
A: Yes! Please enclose your GIA (Gemological Institute of America) or EGL (European Gemological Laboratory) certification with your jewelry when you mail your diamond back to us. A GIA or EGL certified diamond will be worth as much as 10% more than a diamond without GIA certification. If you don’t have a GIA or EGL certification, that’s OK too. You can still get plenty of cash for your diamond without one!
Q: Is the sale of my diamond reported to the IRS?
A: No, the IRS does not require purchases to be reported.
Q: How can I be sure I am getting the best price for my diamond?
A: We are fourth generation jewelers with vast experience in the trading of diamonds. We are part of a global network of jewelry dealers that allow us to cut out the middle men and give you the best price for your diamond.
Q: Does Trade In My Diamond match the appraisal value of my jewelry from my insurance company?
A: Insurance companies will appraise your jewelry based on “retail replacement value.” In other words, what will it cost you to replace your jewelry if it is lost or stolen? Appraisals also do not consider the value of the diamond itself. Thus, an appraisal will have little influence on the payment you should expect from Trade In My Diamond.
Q: I paid $2,000 for my diamond ring. I should expect $2,000 from Trade In My Diamond, right?
A: Retail stores mark up jewelry 5, 10 and even 20 times or more. There is also the cost of the moissanite stone that replaces your diamond, along with the labor to replace the stone. Additionally, the diamond itself only represents a portion of the total cost of the jewelry piece.