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Patrick Martin
Patrick Martin

Does Kay Jewelers Buy Diamonds

The ring from Kays offers no assurance in terms of diamond quality; you are buying blind and with no definitive clarity or color grades. By contrast, Blue Nile offer high-res imaging and 360 videos of their diamonds, almost all of which are GIA certified. This is no an isolated incident, in fact I find Kays jewelry consistently comes in thousands of dollars more expensive than Blue Nile and James Allen time after time.

does kay jewelers buy diamonds

Is it unfair to make this comparison? Afterall, Kays have been a predominantly bricks and mortar jewelers for many years, so should we compare them to the global giants of e-commerce diamonds? In short, my answer is yes. My job is to advise on the best quality and price for your diamond jewelry therefore if Kays are offering an online buying option, they should be held to the same standard as their competitors.

This huge price difference is all down to the simple matter of inventory. Sites like Whiteflash, Blue Nile and James Allen all carry huge online inventories. As the diamond is not physically in their possession and the company themselves have not bought it, it is simply listed on their website. This means it can still be sold by the diamond trader and by the company, after which the online inventory is simply updated. However, bricks and mortar jewelers need diamonds to show people, meaning they need them in the stores. This means they will have to either buy the diamonds (which would total millions of dollars) or have them loaned to them for a fee. This explains the price hike between bricks and mortar stores and online vendors, but how do we explain the difference between the online prices?

Again, this is partially down to inventory; sites like Blue Nile do not have the same overheads that bricks and mortar driven jewelers do and their business model is completely focused on diamonds. This allows them to offer diamonds that are both great value and great quality. It is also to keep consistency across the brand. If someone purchased a ring in a Kays Jewelry store, only to then see they could have bought it on the Kays website for thousands of dollars cheaper it would break trust in the company and reveal unfavourable details about company profit.

Their selection of settings is fantastic and their website is slowly rising to the level we have come to expect from diamond e-commerce sites, however until their diamonds catch up they will remain a 2/5* company.

Kay Jewelry now offers a trade-in or buy-back program. If you want to buy another piece of jewelry with an item of diamond jewelry, you must stop by a store with their apporsearch tools. Jewelry that requires trading must be manufactured in either the United States or the United Kingdom. An original fine jewelry purchase price is usually around 20-50 percent of the original price when sold pre-owned. When a piece is extremely rare or extremely valuable, it may rise in value. At Zales and Jared, you can get trade-in deals on jewelry. Jared diamonds (excluding lab-created diamonds) are only permitted to be upgraded as trade-ins.

Do you know if Zales will buy back your jewelry? If you have a valid Zales receipt, you can exchange your Zales diamond bridal set, solitaire ring, solitaire earrings, necklace, or solitaire pendants for a diamond ring of your choice (excluding lab-created diamonds).

There is still the possibility that selling your jewelry in person at a local shop is the best way to obtain the most profit. You have a variety of options in this area as well, including coin shops, pawnshops, consignment shops, and jewelers. The American Gem Society provides a list of local jewelry retailers.

Jewelry stores will only buy items in high demand, such as necklaces, gold rings, and diamonds. But pawn shops will buy pretty much anything, including specialty pieces like watches, costume jewelry, and trendy collections such as Pandora.

That said, there are some basic tools and terms that anyone can use to make sure they understand any price quoted for their diamonds, and help you understand what your diamond is worth. Keep reading to learn about your diamond and what it is worth.

Here is a chart of shapes and prices for different, popular diamond shapes with similar characteristics, from BlueNile. It will help you understand the value and worth of round brilliant-cut diamonds, princess (square), emerald (step-cut rectangle), marquise diamonds, and other shapes.

One of the reasons many women choose not to sell their diamonds or diamond ring is that the price they are quoted from a jeweler or auction site is much lower than they believe their rings to be worth. Typically, the resale value of a diamond is about one-third of what you will pay retail.

Diamond resale value for tiny diamonds are much less, and they are often sold based on their collective weight for hundreds of dollars or less. Sellers often find that the gold or platinum setting of a diamond ring is worth as much or more than the actual diamonds.

Kay Jewelers has told just about everyone in America, "Every kiss begins with Kay." The chain jewelry store with locations in seemingly every shopping mall in the United States, Kay Jewelers has been a staple of American retail for decades, and it doesn't seem to be going anywhere. Teenagers look in the store windows at the mall, dreaming of diamonds and charm bracelets, and 20-somethings stare at the engagement ring display, designing the perfect rings in their minds. Kay Jewelers has been a huge part of the shopping experience for almost everyone.

Whether or not you own a piece of Kay jewelry, you probably know someone who does. The company is huge, and, with its unique history, there's actually a lot more to Kay Jewelers than you might think. From their parent company, their sales, and their controversies, there's a lot more to Kay Jewelers than what meets the eye. Obviously, the company specializes in sparkly romantic gifts, but it's so much more than that.

Before the days of walking around the mall or catching a Kay Jewelers commercial on TV, the store used to sell a lot more than just necklaces and rings. In fact, according to the Kay Jewelers website, Kay Jewelers originally sold things like eyeglasses, as well as music boxes, appliances, silverware, and even razors! As strange as that may sound, keep in mind that people shopped very differently 100 years ago. And really, the original Kay Jewelers doesn't sound all that different from a modern-day department store, as Macy's sells jewelry, appliances, silverware, and glasses, as well as clothes, shoes, and handbags.

While Kay Jewelers and its parent company, Signet Jewelers, may be well aware of its market, that doesn't mean they don't struggle. In fact, an April 2019 report from CBS News found that Signet was planning on closing nearly 150 storefronts. But that wasn't all, as Kay Jewelers' parent company has launched a three-year plan to shutter 13 percent of Signet Jewelers locations. So, while Kay Jewelers may be doing well, Signet as a whole has struggled and is closing stores as a result.

According to the same CBS News report, Signet Jewelers had a two-percent drop in same-store sales, which led to the announcement of store closures. Of course, just because some Kay Jewelers stores might close down, that doesn't mean the company is going anywhere. In fact, Signet Jewelers seems to be planning on making more online sales with all of their jewelry stores, including Kay Jewelers, according to CBS News.

St. Jude's Children's Research Hospital is an amazing hospital that seeks to end childhood cancer. The hospital never bills families, so they rely heavily on charitable donations. According to Kay's website, the company has given St. Jude's over $70 million in 20 years, and has donated over $5.4 million in 2019 alone. The Diamond Empowerment Fund works to empower youth in countries where diamonds are sourced and has sent over 2,000 college-aged youth across Africa and India assistance in the form of financial aid or scholarships. Clearly, Kay Jewelers has chosen two charities close to their hearts and works hard to be able to give back to those in need.

In fact, Kay Jewelers requires that each and every diamond they supply comes with a warranty that it is not a conflict diamond. Kay Jewelers' diamonds are in total and complete compliance with the United Nations Resolutions regarding conflict diamonds. Each diamond that comes from Kay Jewelers will include a written warranty as follows: "The seller hereby guarantees that these diamonds are conflict-free, based on personal knowledge and/or written guarantees provided by the supplier of these diamonds." Kay Jewelers is very much against conflict diamonds.

It's no secret that purchasing a diamond, no matter the occasion, is kind of a big deal. Whether you are proposing to your partner, or just want to treat yourself to a pair of diamond earrings, it can be intimidating to make such a big purchase. However, Kay Jewelers offers it's own "Jewelry Education Hub" to inform potential customers about how the diamond-buying process works, how diamonds are certified, and so much more.

Kay Jewelers may be a national jewelry store, but there's still so much more to the company than diamonds and gold. The truth is Kay Jewelers has been around for over a century, and it doesn't seem like they're going anywhere anytime soon.

It might seem slightly hard on the company, but one does not have many options since its benefits are far from enough. Besides, purchasing an engagement ring from this jewelry store always implies spending a premium, often for a low-quality ring.

When it comes to the quality of the diamonds and engagement rings sold by Kay Jewelers, they do not meet the mark of online jewelers and many other brick-and-mortar jewelry stores. For those who do not know much about diamond quality and value, it might be easy to be fooled by the sales representatives in Kay Jewelers who push specific rings. Therefore, it is critical to read on diamond education and take someone along with you who is clued-up on diamond quality. 041b061a72


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