Top 5 Riskiest Places to Buy Used Diamonds  

1. Your Local Pawn Shop

2. Craigslist

3. eBay

4. A Friend or Associate

5. A Marketplace That Sells Treated and Man-Made Diamonds

Through our many guides and our online publication,  The Diamocycle Dispatch, we tackle the many places you should sell your used diamond or shop for preowned engagement rings for sale. 

If you’re shopping for recycled engagement rings, might we suggest this expert guide on diamond resale: 

https://www.diamocycle.com/a-guide-to-buying-a-used-diamond . 

The guide has all the tips for buying an engagement ring. 

The following short guide helps you avoid the potential pitfall many consumers of previously owned jewelry often make. We have outlined the many reasons to avoid the riskiest places that sell repurposed diamonds and likewise outline the potential advantages, should you decide to take the risk and shop at one of these venues for pre-owned jewelry. 

# 1 Your Local Pawn Shop

For an in-depth analysis of how to buy and sell secondhand jewelry at a pawn shop, please read A Diamocycle Guide to Selling or Buying Diamond Jewelry in a Pawn Shop. It is an in-depth dive into everything you need to know to buy and sell diamonds near me at a local pawn shop. 

For a quicker summary, read on: 

Pros

• Pawnshops give loans on previously owned rings. If a  borrower defaults on the loan, the pawn shop might end up stocking a pre-owned diamond at a low price. That means you could score the deal of a lifetime on used jewelry for sale. 

• The pawn shop format lets you buy used engagement rings at a bargain price. 

• Pawn shops are generally less expensive than consignment jewelry near me.

• s For consumers who love the art of the deal, you can negotiate with pawnshop owners. 

  • For example, when you buy used engagement rings at a pawn shop, you can use your negotiating skills to get an even better deal than may have been listed. 

• As pawn shops are local establisments often located near you, they offer the convenience of being an in-person place to buy used jewelry. Similarly,  you can view the item in person before purchasing. 

Cons

• Most pawnshops do not have the tools to test for synthetic diamonds. You might end up purchasing an artificial diamond, thinking you have bought an earth-mined natural diamond. 

  • Manufactured diamonds have significantly less value than earth mined natural diamonds.

• You could buy a treated diamond, thinking you were purchasing unaltered used luxury jewelry. 

  • Treated diamonds include: fracture-filled, irradiated, coated, or laser drilled. 

  • Unfortunately, these diamonds are difficult for the untrained eye to identify. It is unlikely the pawnshop has the staff on hand to identify them when buying or selling these preowned jewelry items. 

• You could buy a diamond simulant, which includes moissanite, cubic zirconia, and white sapphire. 

In Summary: 

Unless you have a professional gemologist as a friend who also has experience buying from pawnshops, we view pawn shops as a dangerous place to buy affordable diamond rings. 

# 2 Craigslist 

For a more in-depth look at buying used jewelry, please read the following Diamocycle Guide: 

https://www.diamocycle.com/a-guide-to-buying-a-used-diamond, which even includes a section focused on limiting the risk of buying and selling jewelry near you. 

For a quick run-down on buying repurposed diamonds from Craigslist, read on:

Pros

• Given that you are buying a preowned jewelry item on Craigslist, odds are high that you will not be paying a new retail price.

•  By using Craigslist, you are able to search “Buy and sell diamonds near me,” which allows you to acquire your diamond easily and quickly. 

Cons

•  The chances of potential fraudsters in this marketplace are high. Vendors are able to post an item, and then sell you a diamond simulant, or artificial diamond, having switched the item for a look-alike.

• Most individual sellers prefer cash for their pre-owned diamond, which as a repurposed diamond buyer, presents you with the additional risk of a staged robbery, which can occur after during, or before the transaction. Remember to meet in a safe location.

• As there are no safeguards on pricing, you might end up paying a retail price for a used diamond. 

• With Craigslist, there are no return or exchange policies for buying used jewelry. The transaction is a final sale. 

In Summary: 

We feel that Craiglist is probably the riskiest place to buy a repurposed diamond. The chance of buying a diamond simulant is high. Similarly, the risk to your personal safety and the potential to be defrauded by professional criminals is also noticeably high. 

Unfortunately, there are no safeguards in place to protect you, the consumer. We would not recommend even an experienced jewelry buyer purchase used diamonds via Craigslist. Simply put, the risks are far too significant. 

# 3 eBay 

If you’re keen to gain expertise in the various facets of diamonds, we recommend you read: About a Diamond — Diamocycle.

This delightful feature will help you learn all there is about natural diamonds before completing your very own used diamond purchase. 

We’re all for ensuring that you are an informed consumer with a well-earned education should you ever buy diamonds on eBay, or anywhere near you. 

Here’s a quick run-down about the benefits and risks of buying and selling second-hand jewelry on eBay:    

Pros

• eBay has pProfessional sellers who care about their reputation, and thus are more likely to provide higher-quality used and repurposed diamonds.  in this marketplace

• Sellers have different return policies, sometimes safegauarding the consumer. 

• BOn eBay, a buyer can use Paypal to safeguard their eBay transaction further.

• Extensive inventory: IncredibleMassive amount of pre-owned jewelry to view online.

• It is less likely to acquire a diamond simulant than some other marketplace as Ssellers receive feedback for their transactions, making it less likely for repurposed diamond buyers to purchase a simulant or inaccurately discribed item. 

• Similarly, used diamond buyers are lLess likely to acquire a manufactured diamond, and more likely to find a accurelty described than natural earth mined diamond. 

• As per the above, diamond buyers are lLess likely to receive a treated diamond when seraching for used jewelry on eBay than some of the other marketplaces listed in this article. 

• eBay is safer than an in-person transaction, either at a pawn shop near you or Ccraigslist.  

Cons

• There is still some risk when purchasing online via eBay with an unknown seller. 

  • Given that, We advise sticking to professional sellers who care about their reputation and have executed as many positive transactions as possible. 

  • New sellers could potentially either knowingly or unknowingly misrepresent used diamonds. 

• There’s little quality control in terms of eBay’s endless inventory.  

  • Stick to purchasing diamonds that are graded by a professional lab grades to safeguard yourthe transaction.

• While the risks inherent into purchasing a repurposed diamondpurchase go down when workingshopping with professional sellers, the likelihood of paying a higher price goes up. 

  • While you may find a lower price from a newer used diamond seller, we encourage you to weigh the risks inherent in buying a used diamond from a newer seller on eBay. than from a new seller or a seller with a few transactions goes up. So you’re losing the value from shopping for a preowned jewelry item. 

• There is no clear guidance for market pricing.

  • Always cross-compare your prices to avoid so you could be paying a new price for a used jewelry item. 

• There is no gem lab inspecting your item before the transaction takes place.

  • This is a traditional consumer safegaurd that simply is not available when you purcahse via eBay. 

• RThe return policies are potentially challenging to execute should you get a fraudulent item and have to prove it on your end. 

  • We encourage you to always review and read return policies with care, and explore all potential outcomes should you recieve an item that does not align to your expectations. 

In Summary:

 eBay has thousands of listings forof pre-owned jewelry and professional sellers with vetted transactions. When you purchase from these sellers, the risk of fraud isgoes significantly lowerdown, but with this reduced risk comes the likelihood of your paying an above-market price for a previously owned jewelry piece. 

AsSo eBay does not offer any consumer or financial safegaurds for used diamonds, there are still inherent risks in shopping for a repurposed diamond in a marketplace. As you know, we always strong recommend consumers are able to verify their diamond with a 3rd party inspection, and that simply is not avilable via eBay.  the risks inherent of using rewards are not clear, and the dangers of a used marketplace without independent 3rd party inspection of your used diamond are not in place. 

# 4 A Friend or Associate

If you’re feeling overwhelmed in terms of buying a used diamond, we recommend checking out our repurposed diamond buying guide: Here we have linked to our guide on buying a used diamond. The guide covers this topic in great detail so that you can be an informed wedding ring buyer. https://www.diamocycle.com/a-guide-to-buying-a-used-diamond

The guide covers this topic in great detail so that you can be an informed wedding ring buyer. 

One of the most intriguing ways to adquire a used or preowned diamond is through a friend or acquaintance. Read on to see the pros and cons of such a business venture: 

Pros

• You mightcould get an excellent deal on a used diamond.  

• You get to inspect used jewelry in person.

• You can safely buy and sell diamonds knowing the other party is a friend or someone in your circle of associates. 

Cons

• You risk straining the relationship if the used diamond for sale does not meet your expectations or the agreementneeds. 

• You have no understanding if you are getting a market price for the preowned diamond.

• You think you are purchasing a cheap used diamond engagement ring when you may knowingly buy a diamond simulant, manufactured diamond, or treated diamond. 

• Limited inventory. You are not selecting from a variety of used diamonds. 

• A private sale 

•  is a final sale with no chance of return or company credit.

• There is no 3rd party gem lab inspecting the previously owned jewelry for validation before the transaction takes place. 

• There are tax requirements in completing this transaction. Booth or one party may not meet these due to neglect or inexperience, which would putputting you at risk of potential tax liability should a seller be audited.

  • Read here to learn more about the tax requirements of such a transaction: ADD LINK

In Summary: 

The potential benefits of gettingcapturing a deal on a pre-owned engagement ring or preowned wedding bands from a friend or associate are limited. At the same time, the upside risks are significant, so we further advise using care when attempting to go forth with aexecute this transaction with a friend. 

At the very least, you should get a local independently trained GIA gemologist to provide an appraisal with the intention of purchase and not for insurance value. 

For more information on appraisals, see our guide https://www.diamocycle.com/a-guide-to-diamond-appraisals

 

A last word of advice: . The seller should ideally carry the burden of paying for this appraisal, not the Buyer if the transaction does not go through. 

#5 A Used Diamond Marketplace 

That sells treated and manufactured diamonds

For a more comprehensive run-down on what a secure diamond marketplace experience looks like, we strongly recommend reading our Buyer’s Guide. We have linked to our Buyer’s guide for a secure Diamond marketplace experience. Buyer’s Guide — Diamocycle. 

Of all the option, we believe a used diamond marketplace We believe this is the best place to buy used diamond rings. Buyer’s Guide — Diamocycle. 

Pros

• A Wide Variety of Inventory Available, including: used engagement rings and second-hand diamond Buy used engagement rings online. 

• Buy second-hand diamond earrings. 

• Often, high-quality and luxury items are available, given the high-trust environment of the marketplace. 

• On-site gemologist to verify your used diamond is accuratelyas described. 

• Ability to support independent sellers while also preserving your personal safety and the integrity of your sale. Used engagement rings for sale by owner. 

• Given the in-house gemologist and other consumer safegaurds, you are A used diamond marketplace is less likely to purchase an artificial diamond, treated diamond, or diamond simulant than other places that buy and sell jewelry locally. 

• Some form of return credit is often available.

• Luxury ownership jewelry on sale

• The convenience of online: A preowned marketplace offers the convenience of shopping online rather than at jewelry stores or consignment stores that buy rings and other diamond items.

• You’re also safer: Your safety is not at risk like in some other places for pre-owned diamond jewelry. 

• Given the preowned and also vetted nature of your purchase, yYou could be purchasing an environmentally friendly piece of jewelry. 

• More convenient than shopping at consignment jewelry stores. 

• A fairer market value than local pawn shops and other “diamond ring buyers near me.”

Cons

• Most online diamondof these marketplaces inspect items onsite and not through a 3rd party independent gem lab. Therefore, it is up to the standards and caliber of the in-house employee,  and not a vetted diamond lab, as to the integrity of the previously owned jewelry you are purchasing. 

• Online jewelry marketplaces that do not always regulate andthe item’s market price, and thus do not protect the Buyer from overpaying, when they are buying a loose diamond for an engagement ring. 

• Some online diamond marketplaces for used diamonds offer sellers the option to sellmarket diamond simulants and treated diamonds, which can be confusing to buyers. Please always make sure to understand what you are purchasing. . Buyers can be confused.

• Manufactured 

• diamonds are chemically the same as natural earth mined diamonds. 

  • TheTheir value of manufactured diamonds, however, is falling each year due to reduced production costs and more companies entering this potentially lucrative market. 

  • ISo, if you purchase one of these on a used diamond marketplace, assuming you got a low price for a diamond ring, you are mistaken. Their value is a fraction of the actual market value of an earth-mined natural diamond. Also, the resale venue for these items on the secondary market is thin. They can be challenging to capture any value from in the future. You are essentially buying a costly home appliance that falls in value when you purchase it. 

• Read the marketplace’s return policies. Most offer credit which could be less advantageous for the Buyer than either a full return option or a partial credit. 

In Summary:

 A used diamond marketplace could be the cheapest place to buy diamonds online, but we strongly recommend knowingyou have to know the policies of the marketplace, the type of on what items they approve for listing, how they are pricing their listings, if at all, and if they have a 3rd party independent gem lab inspecting your item for veracity before completing the transaction. 

For an in-depth guide for buyers, please look at our marketplace buyer guide. Buyer’s Guide — Diamocycle

Please read our content for help with buying or selling a used diamond engagement ring here. https://www.diamocycle.com/a-guide-to-buying-a-used-diamond We offer buyers a secure vetted marketplace to shop for preloved diamond engagement rings here, Diamocycle Marketplace, and sellers the chance to recapture a fair market value for their used diamond here.

For Diamocycle Buyers: Diamocycle Marketplace | For Used Diamond Sellers: https://www.diamocycle.com/sell-a-diamond

We come from a family legacy since 1857 founded on integrity, trust, and service Company Info — Diamocycle. Feel free to contact us here for any questions you may have.