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So, how can a person like me take advantage of this? This seems like a great arbitrage situation. Where would one find these diamonds that no one wants to buy

by ijidak 7y ago

So, how can a person like me take advantage of this? This seems like a great arbitrage situation. Where would one find these diamonds that no one wants to buy? I hear these stories, but it seems like everyone that is selling a used diamond is still asking top price for it.

colechristensen 7y ago
Find your cheap diamonds with cash4gold style commercials on news networks and daytime TV. Sell them to independent jewelers.
- viggity 7y ago
  The independent jewelers get them dramatically cheaper than they sell them for already.
  - windsurfer 7y ago
    This is sadly not true in North America. If a jewellery store wants to stay GIA certified and get all the paperwork about being conflict-free, they need to buy their diamonds at a much higher price.
mywittyname 7y ago
Estate sales. I see used jewelry for sale at small shops, festivals, pawn shops, and flea markets. It's really likely that any small town with a used bookshop also has a used jewelry store. The ones I've been to sell a variety of other pieces as well. I think the OP is getting at the fact that people don't buy used jewelry from randos off of Craigslist. That doesn't mean there's no market for used jewelry, just that people are much more comfortable buying from a store or vendor, probably due to perceived reputability and maybe the fact that they may not immediately realize that it's used. This is especially true with pawn shops, where they may sell wholesale jewelry along side their walk-in acquisition pieces.
SilasX 7y ago
Related: on Quora someone claimed that pawn shops value diamond rings without regard for the diamonds, and only for their gold, and they basically just toss the diamonds into a coffee cup. I pointed out that this means you should be able to get cheap diamonds there: https://www.quora.com/Why-don-t-pawn-shops-pay-for-the-diamond-itself-only-the-silver-or-gold/answer/Dave-Norris-3 https://www.quora.com/Why-don-t-pawn-shops-pay-for-the-diamo...
papln 7y ago
What's the arbitrage? You can do great artbitration 1-yr old laptops also, except they have the same problem -- no one wants them.

by ijidak 7y ago

colechristensen 7y ago

Find your cheap diamonds with cash4gold style commercials on news networks and daytime TV. Sell them to independent jewelers.

viggity 7y ago
The independent jewelers get them dramatically cheaper than they sell them for already.
- windsurfer 7y ago
  This is sadly not true in North America. If a jewellery store wants to stay GIA certified and get all the paperwork about being conflict-free, they need to buy their diamonds at a much higher price.

mywittyname 7y ago

Estate sales. I see used jewelry for sale at small shops, festivals, pawn shops, and flea markets. It's really likely that any small town with a used bookshop also has a used jewelry store. The ones I've been to sell a variety of other pieces as well. I think the OP is getting at the fact that people don't buy used jewelry from randos off of Craigslist. That doesn't mean there's no market for used jewelry, just that people are much more comfortable buying from a store or vendor, probably due to perceived reputability and maybe the fact that they may not immediately realize that it's used. This is especially true with pawn shops, where they may sell wholesale jewelry along side their walk-in acquisition pieces.

SilasX 7y ago

Related: on Quora someone claimed that pawn shops value diamond rings without regard for the diamonds, and only for their gold, and they basically just toss the diamonds into a coffee cup. I pointed out that this means you should be able to get cheap diamonds there: https://www.quora.com/Why-don-t-pawn-shops-pay-for-the-diamond-itself-only-the-silver-or-gold/answer/Dave-Norris-3 https://www.quora.com/Why-don-t-pawn-shops-pay-for-the-diamo...

papln 7y ago

What's the arbitrage? You can do great artbitration 1-yr old laptops also, except they have the same problem -- no one wants them.