Like most industries that used to rely completely on local business, the selling fine jewelry has been given a digital overhaul.
Not only can you buy jewelry online, but with WP Diamonds you can sell your higher end jewelry and be reassured you are getting a fair price.
How Does WP Diamonds Work?
WP Diamonds offers its clients a seamless experience of selling their diamonds and other jewelry.
The process is simple; the interested sellers can fill up the form on their website and include all information about their stone. The seller then receives an estimate of the valuation by the company’s experts.
Post acceptance of the offer, the seller ships the commodity to the WP Diamond center and receives the payment through bank transfer. Or, there is an alternative to personally schedule an appointment and visit the store, where you can receive the check in hand or opt for wire transfer.
The package you ship to the firm is insured by them, and in case of any unforeseen circumstances that require the reversal of the delivery, they also ship the package back to you with full insurance.
Is WP Diamonds Legit?
With jewelry and high-end luxury items dealers, the trustability and authenticity is the primary bone of contention. WP Diamonds is a fairly new entry into the market having been launched in 2010, and therefore its credibility might justifiably be under scrutiny.
However, its parent company, White Pine, is a world-renowned recycler of diamonds and other jewelry, which lends WP Diamonds the validation by legacy.
White Pine launched WP Diamonds to reach out to individual possessors of diamonds and provide them a platform to sell their unwanted jewelry.
It started an online purchasing system, where people sitting in their homes could log on and submit details about their gem and receive a quotation from the company.
Started in New York, WP Diamonds established their presence in the United Kingdom by opening an office in Birmingham.
They already had presence in Spain and soon forayed into Canada as well, buying GIA certified diamonds. In 2018, WP Diamonds planted their flag in Asia by launching a branch in Hong Kong.
Initially, they only offered services for diamonds. WP Diamonds expanded their portfolio to luxury jewelry and watches in 2014. They essentially buy the items from the seller, and then sell it back to manufacturers and dealers, working as a recycler.
WP Diamonds offers both selling and buying options to the customers. The process is simple, as explained above, and it’s not restricted to diamonds only. Let’s look at the options available under the purchase domain.
Purchase of Diamonds
The company buys all types of diamonds, regardless of the cuts and sizes. Even if you are not sure of the kind of diamond in your possession, you can seek expert guidance from the professionals at WP Diamonds, who will handhold you through the entire process.
Their online grading and certification checking tool allows you to check the grading of your diamond using the certificate number and the weight of the stone.
The online portal of WP Diamonds is also equipped with a weight calculator tool that enables the individuals to find out the weight of their diamond by entering information about the diamond’s shape, length, breadth and height. This approximate measure is then used by their experts while estimating the value of your diamond.
WP Diamonds also buys GIA certified and second-hand diamonds (valued above $500).
There is also a “Diamond Selling Guide” available on the website that provides the seller in-depth information on the entire process and what factors are in play with valuation, including the certifications, metal assessment, market assessment and other variables.
Purchase of Non-Diamond jewelry
Apart from buying diamonds, WP Diamonds also provides a platform for people selling designer jewelry, including gold, platinum, solitaire and more.
The designer jewelry includes jewels by brands like Cartier, Chanel, Tiffany, David Yurman, Buccellati, Boucheron, among other names resonant with luxury jewelry.
The type of jewelry that WP Diamonds buys includes everything from diamond rings, earrings, brooches to bracelets, watch chains and pendants.
Purchase of Luxury Watches
Expanding into the watches segment in late 2014, WP Diamonds now buys premium watches of chic brands like Cartier, Rolex, Omega, Tag Heuer, Piaget, Chopard, among other luxury names.
They buy both men’s and women’s watches and have an extensive guide in place to inform the sellers how the pricing for each is done and what actually impacts the resale value of the watch.
Along with buying diamonds, designer jewelry and watches, WP Diamonds also offers its customers a concierge service to buy jewelry and luxury watches. All you need to do is email to them what you are looking for and they’ll send you several options pertaining to your requirements.
It also sells loose diamonds and diamond-only jewelry. Brands on the show are all high-end, including Dior, Tiffany, Chopard, Jaeger Lecoultre, Frank Muller and more.
Founded in 2010 by White Pine Trading LLC, WP Diamonds is an online buyer of diamonds, jewelry and luxury watches. It is headquartered in New York and has offices across Europe as well.
WP Diamonds has expertise in the fair valuations of diamonds with a team of highly experienced professionals onboard. It offers an end-to-end research to valuation to purchase service to the individual sellers of diamonds or other jewels.
WP Diamonds also holds a level A rating from BBB, the Better Business Bureau, the U.S. accreditation agency, which lends it credibility as a leading re-seller of diamonds in the market.
For individuals looking at selling their jewelry or unwanted gems, there are several options available in the market. Some might prefer the rawness of pawn stores, others might find online platforms like Craigslist and eBay more trustworthy.
The advent of companies like WP Diamonds has increased the transparency of the process and more owners of diamonds and designer jewelry are turning to these top companies for selling jewelry for fair valuations and a simplified experience.
Let’s take a look at a few alternatives of WP Diamonds in the market today.
Based in New York, Worthy.com is a buyer of diamonds, gold, and other jewelry. It’s one of the leading names in the diamond recycling industry and is BBB accredited.
The process is quite similar to that of WP Diamonds. The individuals interested in selling their jewelry need to fill a form on their website with the details of their jewels. Post submission, the seller will need to ship their package to the company through their mailing label, which will be insured by them too. The stones are then evaluated by professional and gemstone experts, and the estimate is shared with the seller generally within 24 hours.
The seller can also receive an online appraisal of their jewelry before shipping it to the company.
The Diamond Valet
Dealing mostly in diamonds, The Diamond Valet is a BBB accredited online diamond dealer with an A- rating.
They also deal in luxury watches, like other online dealers in the industry. Based in Baltimore, The Diamond Valet works similar to its competitors, however, there are a few cons that make it a little less attractive.
The company buys diamonds of all shapes and sizes, certified or uncertified, and allows a 10-day guarantee on the trade.
The seller initially needs to fill in an evaluation form on their website about the diamond post which they do a follow up call and then send a shipping package for the seller to send the diamond to the company. The package is fully insured so that the seller does not need to worry about its safety.
The Diamond Valet, unlike its peers, does not offer instant payments and the only option is checks mailed via FedEx which increases the duration of the entire transaction.
- Commission-free service; the company does not charge for any of the services, from providing insurance to expert valuations and guidance.
- Super fast payment; the seller can choose either direct bank transfer or collect a check in person. Payments are usually done immediately after the deal is finalized.
- Extreme focus on transparency; the seller has access to the live feed filmed by a camera while their jewelry is being assessed by the in-house experts.
- One of the highest prices offered in the market.
- Guaranteed return in case the seller wants to revert on the deal or does not want to accept the final offer.
- The website extremely detailed, with various selling guides to help the individuals navigate through the process and learn the intricacies of valuations.
- No return once the payment has been made; it might appear intimidating for people used to a returns policy.
- Does not offer an instant quote unless detailed information is sent.
For sellers looking to get the utmost fair valuation of their diamonds or jewelry and are actually aware of the details of their stones, WP Diamonds is easily the most optimum choice.
The team at the firm is highly professional and customer-oriented, providing answers to the seller’s queries at every step.
Trusting an external party to value your precious gems is indeed a time-taking task, but with the policies in place as that of WP Diamonds, like access to a live camera feed, free shipping, huge insurance cover and zero-cost expert guidance, it becomes easier to build the faith.
Overall, WP Diamonds falls right ahead of its claims and has established itself as the one-stop-shop for diamond sellers in a short time!