An increasingly popular trend, trading in jewelry is an efficient and financially savvy choice. Not only does it allow you to afford new items more easily, but it also allows you to declutter your jewelry box in the process. We review data from a client survey conducted June - August 2012.

Looking to trade in your diamond jewelry? Updating your jewelry box is a great way to refresh your jewelry collection without breaking the bank. Find out why so many people are opting to trade in jewelry and how you too can do so.

Why Trade In Jewelry?

There are a number of reasons why people choose to trade in their jewelry:

Your financial circumstances may have changed: you may now be able to afford something that you were not able to previously.
Update your jewelry box: refreshing the jewelry you have available and recycling the items you don't wear, into new ones that you do, is always a good idea.
Change in style: while you may have loved a piece of jewelry when you purchased it, it could simply not be to your taste anymore.

Trading In Jewelry: A Popular Trend

Our statistics reveal that 30% of people were selling their diamond items to purchase more expensive diamond jewelry in the future. In fact, many customers had already identified their next item of jewelry.

At myGemma, we specialize in buying luxury items directly from members of the public. We have found that people are increasingly upgrading their diamond jewelry by selling their existing, unwanted jewelry.

One of the most popular items sold to us includes diamond wedding rings, diamond engagement rings, and loose diamonds that have already been extracted from their settings.

Andrew Brown, CEO of myGemma, commented on the trend:

'Being able to sell diamonds quickly into the second hand market and raising substantial capital from the sales is relatively new. The Internet and an increase in second hand diamond prices are providing a platform for which consumers can sell their jewelry. People are increasingly turning to sites such as myGemma.com to provide them with the finance they need to buy their dream ring, earrings, or necklace - sometimes selling engagement or wedding rings for a larger item after getting married.'

Diamond prices have risen in the last two years; although difficult to track, second hand values have risen even more over the same period. Despite there being a difference between retail prices and the second hand value of diamonds, myGemma has seen the average value of its purchases from consumers rising to close to $2500.