Top 5 places to Buy Preowned Diamonds For Less

5. Sotheby’s

4. Facebook Marketplace

3. Everything But The House

2. Cash America Pawn

1. Diamocycle

Across our publication, the Diamocycle Dispatch, we discuss the many places to buy a pre-owned diamond and give buyers the knowledge to purchase confidently, knowing they are making an educated purchase. 

5. Sotheby’s

We think this is a great place to shop if you purchase a costly preowned diamond for over $50,000. 

Pros

• Diamond inspected by experts

• Sotheby’s Auction has an excellent selection of the rarest preowned diamonds and jewelry. 

• Access to hard-to-find colored diamonds. 

The risk of fraud is non-existent.

Cons

• The risk of overbidding is real.

• Hefty Buyer’s premium.

• You should hire a consultant to help you purchase wisely and not overbid. 

• You are competing with industry insiders and the highest level of buyers. Therefore, the likelihood of scoring a deal is low. 

4. Facebook Marketplace

You could score a find on this social media marketplace. A place to shop for preowned diamonds for less than $500.00

Pros

• Sellers need money, and you can negotiate.

• Access to used engagement rings for less.

• You can choose to only shop for a certified diamond to protect yourself.

Cons

• Lack of buyer inspection process

• The risk of fraud is real.

• Risk to personal safety/robbery theft. 

3. Everything But The House.

An exciting way to participate in an auction. Everything But The House sells estates and always has a new selection of jewelry. 

Pros

• Constantly changing auctions

• An exciting way to shop for a preowned diamond

• Experts on staff.

• No hefty buyer’s premium

• The risk of fraud is non-existent. 

Cons

• All purchases are final, and no return option.

• The risk of overpaying is high.

• Some sales lots are artificial diamonds. 

• You are competing with very knowledgeable buyers. 

2. Cash America Pawn

Pros

• If you are an expert, this is one of the cheapest places to shop for preowned diamonds. 

• Pawnshops own diamonds for less and want their money back.

• You can score a deal. 

Cons

• The risk of buying a made-man diamond, treated diamond, or simulant is high.

• You must be an expert or have one on your team to shop here.

• The risk of overpaying is high as the staff is not experts.

• You must go to many stores and be patient to find a deal.

• If you are not a professional buyer with upwards of $2000.00 worth of equipment, this is one of the highest-risk places to buy a diamond, as artificial diamonds are worth considerably less and require a unique testing device. 

• You have to assume you will lose your entire investment when buying at a pawnshop, and it’s a high-risk game of poker. We advise bringing a gemologist with lots of inspection equipment, or don’t shop here. Pro-tip your average jeweler, not in the diamond trade, will have trouble buying at a pawnshop. We would highly advise against it. 

1. Diamocycle

Pros

• Diamocycle Marketplace has preowned diamonds with GIA-certified diamonds at fair prices.

• A 3rd party lab inspects your Diamocycle marketplace purchase as part of the buyer protection process. 

• Buyer’s funds are held and not released until after the return period.

• A return option is available in line with company policy. 

• A  buyer protection process enables you to buy a preowned diamond confidently.

• Sellers adding listings weekly.

• Diamocycle suggests market prices so buyers are knowledgeable. 

• Start shopping here. Diamocycle Marketplace

Cons

• Limited inventory compared to a prominent online new diamond marketplace like the Blue Nile.

• The inspection process can take up to 7-10 days, based on how busy the 3rd party diamond lab is and how quickly the seller mails the preowned diamond to the gem lab for inspection. 

• Images are seller provided and cannot be as professional as an online auction.