TrendsOct 03, 2025
Selena Gomez, Benny Blanco Tie the Knot Wearing Diamonds, White MetalsGomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.
SourcingAug 19, 2014
De Beers launches secondhand diamond program in US
For the next six months, De Beers will evaluate and buy secondhand diamonds from a select group of retailers in the United States, giving it a foothold in the sizable market for “recycled” diamonds and the chance to evaluate the diamond reselling experience from the consumers’ perspective.
New York--For the next six months, De Beers will evaluate and buy secondhand diamonds from a select group of retailers in the United States, giving it a foothold in the sizable market for “recycled” diamonds and the chance to evaluate the diamond reselling experience from the consumers’ perspective.
In what it is terming an “insight program” De Beers has opened the International Institute of Diamond Valuation, or IIDV, in New York’s Diamond District.
The office, headed locally by Mitchell Marder, formerly of S. Bichachi Blumenfeld Diamond Company, will work with an already selected, but not yet named, group of four retailers representing a total of 15 doors. All four of these retailers already are known to De Beers, as they carry its Forevermark diamond brand.
When consumers bring diamonds into these stores to sell, the retailers have one of two options under the IIDV program.
According to the IIDV website, they can evaluate the stone in-store and tap the IIDV lab for a “market price quote” or send the diamond to the IIDV facility in New York.
At the facility, De Beers will remove it from its mounting, if necessary, and put it through an evaluation process that includes screening to ensure it is not a lab-grown diamond.
De Beers then will return the stone to the retailer with the market price quote, what the diamond is worth on the re-sale market based on De Beers’ database of more than 100,000 diamond prices.
The jeweler will offer that amount to the consumer and, if they accept, the diamond either becomes property of De Beers, which reimburses the jeweler the sale price plus a small markup, or is retained by the retailer.
According to the IIDV website, De Beers expects to buy “many” of the diamonds it evaluates. The company said it likely will re-sell the stones its buys on the wholesale market.
There is no fee to be part of the program for retailers.
De Beers re-selling program is set to launch next month and will continue through the beginning of 2015. The company said it doesn’t have plans at this time to expand it beyond the four retailers already involved.
The diamond miner and marketer said it is launching the program because its research indicates that the consumer experience when it comes to reselling diamonds is “weak.”
De Beers Group CEO Philippe Mellier mentioned as
much in his presentation at the JCK Las Vegas show this past June and, in a release issued Tuesday announcing the program, De Beers’ executive Tom Montgomery, who will be the official CEO of IIDV but won’t be based in New York, said “Some retailers have expressed reservations … about how the current reselling experience could impact consumers’ views on diamond equity in the long term. We believe that the only way to gain a true understanding of diamond reselling activity by consumers is to run this small-scale program to assess how reselling has developed, how it might evolve and how it impacts consumer perception of diamonds.”
More on Sourcing
The Latest
GradingOct 03, 2025
Grading Lab HRD Antwerp Names New CEODiamond industry banking veteran Paul De Wachter will take on the role in January 2026.
TrendsOct 03, 2025
Piece of the Week: Kallati’s Pink Sapphire RingTaylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”
CollectionsOct 02, 2025
Boucheron Debuts Cuffs Crafted With 3D-Printed SandIts “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.
Weekly QuizOct 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeOct 02, 2025
$1M in Jewelry Stolen in Northern California Smash and Grab Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.
MajorsOct 02, 2025
Neil Lane Jewelry Exhibition Coming to Toledo Museum of Art“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
TrendsOct 02, 2025
Amanda’s Style File: October’s Colorful ShowThe month’s birthstones, tourmaline and opal, complement the palette of autumn.
ColumnistsOct 01, 2025
Peter Smith: Why Vendor Success Starts With Self-ReflectionSmith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.
EditorsOct 01, 2025
Playing Favorites: The Best Jewelry From VicenzaoroAssociate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.
SurveysOct 01, 2025
Consumer Confidence Hits 5-Month Low in September Respondents were concerned about job availability and rising prices.
MajorsSep 30, 2025
Pandora CEO to Retire in 2026, Hand Reins to CMO Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.
CrimeSep 30, 2025
2 Suspects Charged in $300K Sleight-of-Hand Jewelry Store ScamTwo men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.
CollectionsSep 30, 2025
Billie Eilish, Finneas Partner with John HardyThe “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.
IndependentsSep 30, 2025
Spinelli Kilcollin Announces Residency in DallasThe brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65She was remembered as a creative and generous woman of faith, who also had a sweet tooth.
TrendsSep 29, 2025
Amanda’s Style File: Ear FocusMove over neck mess, the ear story is the way to make a layering statement today.
IndependentsSep 29, 2025
Mark Henry Jewelry to Debut in CanadaThe New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.
MajorsSep 29, 2025
Overnight Releases New Bridal CatalogThe “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.
SurveysSep 26, 2025
Online Shopping, Influencers to Drive Holiday Spending, Mastercard SaysHoliday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.
Events & AwardsSep 26, 2025
Winners of Austin Jewelry Design Contest Announced Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.
TrendsSep 26, 2025
Piece of the Week: Kwit Jewelry’s Square Signet Pinky RingThe red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.
Policies & IssuesSep 25, 2025
JA CEO Provides Tariff Update Following Annual Fly-InA trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.
Lab-GrownSep 25, 2025
Kira Jewels Expands Lab-Grown Diamond ProductionThe manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.
IndependentsSep 25, 2025
Alex Moss’ New Flagship Brings Bold Jewels to SoHoThe jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.
WatchesSep 25, 2025
Wilson & Son Jewelers Donates to the Horological Society of New YorkThe Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.
