EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
SourcingJan 23, 2017
Blue Nile Gets Into Diamond Buybacks
The e-tailer is officially partnering with a company called Mondiamo after testing the service on its own website for seven months.
A screen shot from the homepage of Mondiamo.com, a new website powered by Blue Nile that buys diamonds from the public
Seattle--Blue Nile announced that after seven months of testing, it is launching a diamond buyback program in partnership with a company called Mondiamo.com.
Based in New York, Mondiamo is owned by Adama Partners Inc., a venture firm that invests in, operates and builds businesses in the jewelry and gemstone markets. The company is the strategic advisor to The Fancy Color Research Foundation, which provides, among other services, a price index for fancy colored diamonds.
In a phone interview with National Jeweler Friday, Adama co-founder and Senior Vice President Oren Schneider said they have spent the last few years building a consumer-facing, online-only service for buying diamond jewelry that includes a proprietary algorithm for evaluating current market prices for diamonds. They started a “very low-key” beta test of the service on BlueNile.com in June 2016, he said.
Now, Mondiamo has launched its own website, which is powered by Blue Nile and uses the e-tailer’s live pricing data for Gemological Institute of America-graded diamonds to give consumers a guaranteed cash offer range for their diamond jewelry, sight unseen.
Consumers come to the website either through Blue Nile or on their own and input their GIA report number and the diamond’s carat weight. For non-GIA reports, they enter the name of the grading lab and report number along with the four Cs, with the price being adjusted based on a proprietary algorithm. (Offer ranges are not provided online for diamonds without grading reports, but those stones can be sent to Mondiamo to be evaluated and receive a cash offer too.)
Once a consumer accepts the offer, Mondiamo sends them a free and insured shipping kit and he or she then sends their stone to the company’s office in New York for authentication and final evaluation, with the diamonds graded by Mondiamo’s “highly experienced gemologists,” Schneider said.
He noted that by accepting and shipping the piece, the consumer agrees to the transaction pending the physical evaluation, adding that in nearly 100 percent of transactions so far, the payment was higher than the lowest amount offered.
Mondiamo gets a cut--15 percent of the total value of what they are a buying back (including the value of any precious metal or side stones) or $200, whichever is higher--and Blue Nile gets compensated for every referral, meaning every customer that comes to Mondiamo.com through Blue Nile.
In addition, everybody who sells a diamond through Mondiamo gets a $150 coupon code to use on BlueNile.com.
In
Editors' Picks
Sponsored by
a news release announcing the new service, Blue Nile said the same thing that other diamond buyback sites that have launched in recent years have said: that the process in general is too opaque, and provides consumers little to no transparency when it comes to the true value of the diamond they are selling.
Their service is available only in the United States and Canada now, but Blue Nile said there are plans to expand it globally.
Seattle-based e-tailer Blue Nile is one of a number of companies trying to gain a foothold in the lucrative secondhand diamond jewelry market, which is estimated at about $1 trillion globally.
De Beers opened the International Institute of Diamond Valuation (IIDV) in New York in August 2014.
The program, which allows consumers to sell their diamonds directly to De Beers via the IIDV website or through one of the program’s partner jewelers (which now number 27 and also are Forevermark dealers), tested for 18 months before officially launching in March 2016.
There’s also Worthy.com, which allows consumers to put their diamonds up for sale directly through the Worthy website or via a retail partner. The diamond is then put up for auction, which the consumer can monitor in real time. At the end, he or she can decide to accept the purchase price or take back their stone.
The partnership with Mondiamo also provides a new service that can be offered by Blue Nile, which is looking for ways to diversify as its sales have stagnated, opening stores and expanding its selection of non-bridal jewelry.
Their service is available only in the United States and Canada now, but Blue Nile said there are plans to expand it globally.
Seattle-based e-tailer Blue Nile is one of a number of companies trying to gain a foothold in the lucrative secondhand diamond jewelry market, which is estimated at about $1 trillion globally.
De Beers opened the International Institute of Diamond Valuation (IIDV) in New York in August 2014.
The program, which allows consumers to sell their diamonds directly to De Beers via the IIDV website or through one of the program’s partner jewelers (which now number 27 and also are Forevermark dealers), tested for 18 months before officially launching in March 2016.
There’s also Worthy.com, which allows consumers to put their diamonds up for sale directly through the Worthy website or via a retail partner. The diamond is then put up for auction, which the consumer can monitor in real time. At the end, he or she can decide to accept the purchase price or take back their stone.
The partnership with Mondiamo also provides a new service that can be offered by Blue Nile, which is looking for ways to diversify as its sales have stagnated, opening stores and expanding its selection of non-bridal jewelry.
More on Sourcing
The Latest
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
