The recycling of second hand diamonds has become a big business! I know in my store, the prices of diamonds from cutters and dealers has become too much for many modern engagement customers. I have been buying and selling second hand modern diamonds as well as old mine cut and old european cut diamonds for years.
A world market in second hand diamonds has emerged and is growing rapidly! There is a large selection (called a tender in the diamond trade) will be auctioned early next month in New York by White Pine Trading.
“We afford buyers a large-scale platform featuring a broad assortment of diamonds, and we consolidate large quantities of goods and allow buyers to bid solely on what they want to purchase,” said White Pine Trading LLC CEO Benjamin Burne.
“[S]ellers will have the opportunity to leverage the depth of our experience, as we offer advice and sorting services designed to help maximize value. Additionally, we will actively work to qualify buyers that will pay sellers competitive industry prices.”
As reported On INEX website, In his 2011 diamond pipeline, industry analyst Chaim Even-Zohar estimated that recycled diamonds sold back to the jewelry sector came to about $1 billion last year, which represents 4.4 percent of all polished diamonds sold at polished wholesale prices.
White Pine buys recycled, polished diamonds of all sizes and grades, either loose or in second-hand diamond jewelry. It re-polishes chipped, damaged or poorly cut diamonds, which it then either uses in jewelry or offers for resale.