Here at Diamond Exchange Houston lab grown diamonds and engagement rings are very popular! We have sold hundreds of them over the past few years. One question that we often get asked about is the resale value of lab grown diamonds. In this article, we will explain the resale value the way that we often explain it to our customers when they ask.
Cost of lab-grown diamonds vs. natural diamonds
To truly understand the resale value of lab-grown diamonds compared to natural diamonds you have to understand the cost difference. At Diamond Exchange Houston we often get inquires from people who are wanting to come in and shop for diamonds and engagement rings. One of the main questions that we ask customers when they are booking an appointment these days is if they are interested in lab grown diamonds or natural diamonds. Often, the customers inform us that they are “open” to both. This means that when they visit our jewelry store they want to compare both options when choosing their perfect engagement ring.
Lets say for example a customer would like to buy a 2 carat round diamond as the main stone for their engagement ring. Next, we will show them a mixture of lab grown diamonds and natural diamonds and they will be able to compare the two side-by-side. These stones look exactly the same and have the same amount of brilliance and sparkle. When we quote them the prices the lab grown diamond might be $3,000 whereas the natural diamond is $20,000. These two diamonds have the exact same or similar 4 C’s: color, clarity, cut, and carat size. However, the lab grown diamond is $17,000 cheaper!
As you can see the lab grown diamonds are much less expensive when compared to it’s natural counterpart. This is really helpful to customers who are on a strict budget but would still like a large high quality diamond.
What happens when you want to sell your lab grown diamond?
Diamond Exchange Houston is one of the top diamond buyers in Houston. Everyday we have customers that come to our jewelry store to sell their unwanted and used engagement rings from their previous relationships. The main thing that we inspect when determining the value of an engagement ring is the main diamond. When we look and see that the diamond is a lab grown then we know it is time to inform the customer about the resale value. There is none or very little. If a customer comes in to us to sell a 2 carat lab grown diamond the best we option that we can give them is to take it on consignment and try to resell it for them.
Options when reselling lab grown diamonds and engagement rings
When a customer no longer needs their lab grown diamond engagement ring because of a divorce or similar circumstance then they are going to be left with the task to sell it. This will be a difficult task because there is not going to be jewelry buyers or diamond buyers that are going to be making aggressive offers as in the case of natural diamonds. Therefore, alternative methods will have to be used to liquidate their jewelry.
There are jewelry stores such as Diamond Exchange Houston who at the moment will take certain lab grown diamond jewelry items on consignment to try to help our customers recoup some of the money they have tied up in this type of jewelry. There are alternative customer to customer methods such as trying to sell on websites like Facebook Marketplace and Craigslist. Phone applications such as LetGo, OfferUp, and others will allow customers to list diamond jewelry items for sale as well.
The good news about the resale value of a lab grown diamond
The good news about the lab grown diamond resale value is that even if the value is ZERO dollars, you would still probably lose more money if you were to purchase a natural diamond and try to resell it. For example, lets say you bought the 2 carat lab diamond for $3,000 and lost all $3000 due to the resale value. You would still lose less money compared to you purchasing the natural diamond for $20,000 and tried to resell it and got offered $13,000. When selling diamonds, engagement rings, and jewelry it is very hard to get an aggressive offer which is why Diamond Exchange Houston excels with our jewelry consignment program.
Get Your FREE Jewelry Evaluation Today:
If you are in the market to buy or sell diamond jewelry or engagement rings then reach out to Diamond Exchange Houston today. We will provide FREE estimates on your jewelry items. To get started simply fill out one of the contact forms located on every page of our website or simply call us today at 281-623-1105. Diamond Exchange Houston is the ultimate jewelry store for all of your diamond jewelry needs!
What is the resale value of lab-grown diamonds and engagement rings?
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