Your Diamond has a Chip or Crack in it, and you're
wondering about Trading that Diamond in towards a bigger and better Diamond. But can you?
Do Jewelers take Cracked, Chipped and Broken Diamonds as Trade towards new ones? Let's find out...
The answer to this pressing question is:
YES!
Yes they do take Chipped Diamonds as Trade Ins!
Keep in mind, the bigger and more obvious the Chip or Crack, the less money they'll give you for Trade. (And if your Diamond is big-time fractured, or cracked so bad it looks like it's split in half... you'll probably get nothing for it!)
Jewelers aren't known for giving you high Dollars in Trade-Ins to begin with. And if you ask me, I'd say read my blog titled "Don't Trade In Your Diamond!". (Does that answer any questions right there?)
No matter what, it still doesn't solve your problem. You have a Chipped Diamond and you want a new one. As long as you know that...
Chipped Diamonds Do Not make Great Trade Ins
Chipped Diamonds are very difficult to Sell, let alone Trade. In fact, the only people that I know of that Buy Chipped Diamonds are Jewelers! And that's only because they are in touch with the Diamond Cutters that can Cut and Fix a Chipped Diamond.
That's the only reason they'd buy a Chipped Diamond, to have it recut. They can't resell it Cracked, so it's either recut it, or not buy it at all.
Having a Diamond Recut
Having a Diamond recut into a smaller Diamond, is not cheap. Usually a couple of Hundred Dollars at the very least. And the bigger the Diamond, the bigger the price. Diamonds that are 3/4 Carat or One Carat are definitely worth the price to have done.
On smaller Diamonds like 1/4 Carat or 1/3 Carat, it's probably better to skip the recutting route, and just get what you can get for Trade! Let the Jewelers worry about the price!
Most Jewelers will take Chipped Diamonds as Trade Ins. Be aware that they'll also play down its value and pretty much give you nothing for it. Or try!
It could get a little insulting!
What can you do? You can't sell it! No one else wants to buy a Chipped Diamond. It costs money to recut it. You're better off to take a couple bucks for it and put it towards the bigger, better Diamond, that you really want. Or, just be stuck with it. Yeck!
I know, I know, I frown upon Trade Ins. I really feel like the Jewelry Industry rips people off with Trades. But what are your choices? Trade it towards the Diamond you have your eye on, or keep a Chipped Diamond and be unhappy? Not a nice choice!
Cover Up!
If the Chip is small enough, you can always cover it with one of your Prongs! (Read more about Chipped Diamonds!) Hiding the Chip may make it look better, and make you feel better. But if it were me, I'd probably want to Trade it anyway.
Get rid of it.
I wouldn't want to wear a Chipped Diamond!
Note:
Most Insurance Companies will cover the cost of replacing a Chipped Diamond! Just like they'll replace a lost Diamond, (as long as you have it covered) they'll also replace a Chipped one. (You do have it Insured and fully covered, don't you?)
Get your Insurance Company to cover the cost of your Broken Diamond, and then just pay the difference to upgrade that to a Bigger Diamond.
Problem solved!
And guess what?
You didn't even have to Trade it in!
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