Should You Buy a Used Diamond Ring in 2023?
Across our publication, the Diamocycle Dispatch, we take the mystery out of purchasing a used diamond ring. In this edition of the Dispatch, we uncover why you should buy a used diamond ring and why purchasing used is the Smart Choice in 2023.
The Myths Behind Used Diamond Rings
While there are many stigmas behind purchasing a used diamond ring, they are entirely unfounded. Our Legacy in the diamond and jewelry business began in 1857, over 150 years ago, and we have found that many relationships succeed and fail not based on the ring but on the strength of the bond between the couple.
Saving Money on Depreciation
So when purchasing a ring, one should set goals to get the highest quality ring at the best value. Diamond rings undergo a series of markups from the manufacturer to the establishment that finally sells them to the end user. By purchasing a used diamond ring, you are allowing the first buyer to pay the depreciation expense.
Getting A Higher Quality Used Ring For The Same Budget
This means if I purchase a pre-owned diamond ring for the same budget as a new diamond ring, I can find a much higher quality and more valuable ring. We like to compare diamond rings to houses. Imagine if you had the budget for a new home with two bedrooms and one bath, or you could purchase a five-bedroom house with three bathrooms a few years old. The obvious choice would be to buy a larger home. This is the same with used diamond rings. You get a much more valuable asset for the same budget when you purchase used. Purchasing used is something only savvy buyers understand.
Making a Sustainable Purchase
By purchasing a used diamond ring, You are making a sustainable choice supporting the diamond recycling industry and not the diamond mining industry. Diamond mining is extremely harsh on the environment, and by purchasing a sustainable, environmentally friendly ring, you can feel that you made a small impact on helping the planet heal.