5 Things You MUST Know to Not Get Scammed Buying a Previously Owned Engagement Ring Online

  1. Know the difference between natural and lab-created diamonds.

  2. Know the difference between treated earth mined pre-owned diamond and untreated earth mined previously owned diamond.

  3. Understand that all gemological grading reports are not equal.

  4. Does the online marketplace for second-hand jewelry have your purchase inspected by an independent lab or an in-house employee?

  5. You must educate yourself about used diamonds before purchasing pre-owned jewelry online. 

Diamonds are complex, and there are many ways that sellers can misrepresent used loose diamonds to the unsavvy consumer buying used jewelry. America’s used diamond market is the largest globally. Unfortunately, it is a complex market to grasp without a guide to recycled engagement rings. This guide gives you a few of the tricky ways that sellers can fool you into thinking you have purchased a pre-owned engagement ring at a low price. 

5 Must-Know Tips for Diamond Jewelry Buyers

Tip 1.  Know the difference between natural and lab-created diamonds.

A lab-created diamond is chemically identical to a natural diamond. They look identical. Think of them as a vintage Ferrari replica. That 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’re buying a real vintage car, you would not expect to pay the same amount. Also, lab-created diamonds every year are going down in production costs. More players are making them as the technology gets less expensive. Therefore, their value is ever going down. So, unlike a rare vintage car that goes up or tracks with inflation, a lab-created diamond is a depreciating asset no different from a home appliance purchase. As production increases, they are getting less scarce and less valuable each year, leading to an ever-decreasing jewelry resale value. Also, when you try to sell them, there’s very little understanding in the wholesale market as to their value. As a result, there are far fewer interested buyers to purchase them than an earth mined diamond. Therefore, manufactured diamonds carry financial risks, and we do not recommend you purchase them. 

Tip 2.  Know the difference between a treated natural diamond and an untreated natural diamond.

So, you decided to buy a repurposed diamond online or a pre-owned wedding band. Please read the fine print with the listing when getting a used diamond ring. An inexpensive used diamond engagement ring can be treated? “Treated” is a term used to describe one of the following alterations to natural earth mined diamond fracture filling, laser treatment, irradiated,  and coated. A reputable gem lab will not even grade the majority of these diamonds, except for laser treatments. We do not recommend you purchase any of these treated diamonds. We believe they should be flagged by the sites handling them. Their value is low. 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 its graded color f, vs2. Did you know that one lab will 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. 

Tier Lab(s)
Top Tier GIA
Second Tier AGS, HRD, GCAL
Third Tier IGI, PGS
Fourth Tier GSI
Fifth Tier EGL

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. 

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 educate yourself. 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 diamond onlinehttps://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 you 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