No Comments

Why Choose Recycled for Your Diamond

Image for Why Choose Recycled for Your Diamond

Previously worn or traded, a recycled diamond is one that has returned to the diamond supply chain after prior use. Sustainable for the environment, recycled diamonds provide a way to obtain a beautiful, luxurious diamond, while knowing your gemstone was acquired without further long-term damage to the environment.

A variety of circumstances might lead to diamond recycling. Some of the most common circumstances include: the splitting of an estate, divorce, cancellation of an engagement or someone looking for a way to make extra cash.

Terminology: Natural, Synthetic, Imitation and Recycled

When it comes to discussing recycled diamonds, terminology is often confused. Is a “recycled diamond” a natural diamond, or an imitation diamond? The reality is the terms natural, synthetic, imitation and recycled all have completely different definitions and implications. Yet, they are important terms to understand when considering if recycled diamonds are the right choice for you.

Natural: A natural diamond is found in nature, mined from primary and secondary kimberlite and lamproite deposits. It has an adamantine lustre, hardness of 10 on Moh’s Scale and is a metastable allotrope of the mineral carbon, with a higher durability than graphite.

Synthetic: A synthetic diamond is one that is made in a laboratory setting, but which has the same chemical composition, structure and aesthetic of its natural diamond counterpart. Also sometimes seen as a green alternative, synthetic diamonds have been gaining popularity in recent years.

Imitation: An imitation diamond is one that seeks to have a similar appearance to a diamond, and which may be either a synthetic or natural gemstone. For example, a synthetic diamond or synthetic white sapphire can be used to imitate diamond. Likewise, a natural white topaz or quartz could be used as an imitation. The most common diamond imitation material is cubic zirconia, which is diamond-like in its colorless nature, though easily distinguished from diamond due to its softer nature, vitreous lustre and differing chemical composition.  

Recycled: A recycled diamond, unless otherwise disclosed, is a natural diamond that is re-entering the market after prior use.

How are they "Green?"

Environmentally speaking, a lot less damage is done when a diamond is recycled. Mining companies move an estimated 200 tonnes of sediment for every 1ct of gem quality diamond that is discovered. Then after recovery, the diamond goes through manufacturing processes that can last weeks: cleaving, sawing, rough planning, faceting, polishing and then sales within trade.

By moving a diamond, or a piece of diamond-set jewelry directly back into the market, there is one less diamond being mined, alleviating the pollution, time and overhead associated with the process.

Pros and Cons

As with buying and selling anything recycled, there are pros and cons, which are essential to consider. On the Pro side, recycling your diamond is environmentally friendly. Less waste and pollution become a reality when every person plays a part in conservation, while selling a recycled diamond is also a great way to make extra money. When a diamond is re-cut, it usually looks even better than before, updated in symmetry and style, helping the stone attain its maximum beauty.

Another advantage is that money is saved when buying secondhand. Buying recycled is much cheaper than buying from an upscale retailer, where the same diamond jewelry could cost as much at 70% more, since stores need to factor in costs for maintenance, staff, rent, marketing etc. When selling, recycled options can be easily moved at auction, by partnering with online traders, or though more traditional means via a pawnshop. Here’s a breakdown:

Major auction houses: Christie’s and Sotheby’s, specialize in moving high end, luxury items, trading over $1 Billion annually in pre-owned jewelry and loose gemstones.

Online traders: Companies like WP Diamonds specialize in buying back diamonds and jewelry, re-cutting and re-fashioning, when necessary, before introducing the stones back into the market via sales within the jewelry trade.

Pawnshops: once commonly used, the brokers hold diamond jewelry as collateral for a loan. That said, defaulting on a pawnshop loan means the piece becomes the pawnbroker’s property, and they can sell it.

On the Con side, recycled diamonds can be worrisome when homework isn’t done. It is best to work with a reputable diamond trader who has a track record of providing fair and honest prices, preferably one that is BBB accredited. Additionally, it is essential to have a current diamond grading report for your diamond, since the diamond itself can change significantly after being re-shaped, potentially affecting value.

Ultimately, with careful consideration and research, diamond recycling is a great option for those looking to sell diamond jewelry, encompassing a green approach to appreciating nature’s gems.

Cyber Gear Webinar Series