Survey Reveals that Selling Diamonds Online Fuels the Trend in Upgrading Diamond Jewelry

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WP Diamonds has released data from a client survey conducted from sales made via their website during the period June to August 2012. The statistics reveal that 30% of people are selling their diamond items to purchase more expensive diamond jewelry in the future, with many customers already having identified their next item of jewelry.

WP Diamonds specializes in allowing members of the public to sell their diamond rings and other types of diamond jewelry online, and has found that people are increasingly realizing the value of their existing jewelry assets in order to upgrade their diamond jewelry. The most popular items being sold to WP Diamonds include diamond wedding rings, diamond engagement rings, and loose diamonds that have already been extracted from their settings.

Matthew Howe, General Manager for WP Diamonds, commented on the trend “Being able to sell diamonds quickly into the second hand market and raising substantial capital from the sales is relatively new. The Internet and an increase in second hand diamond prices are providing a platform for which consumers can sell their jewelry. People are increasingly turning to sites such as wpdiamonds.com to provide them with the finance they need to buy their dream ring, earrings, or necklace - sometimes selling engagement or wedding rings for a larger item after getting married.”

Diamond prices have risen in the last two years; although difficult to track, second hand values have risen even more over the same period. Despite there being a difference between retail prices and the second hand value of diamonds, WP Diamonds has seen the average value of its purchases from consumers rising to close to $2500.

About WP Diamonds:
WP Diamonds is a leading purchaser of diamond jewelry and loose diamonds directly from the public. The Company has operations in the United States, Europe and Asia, and it purchases diamond items of all sizes and qualities. WP Diamonds is part of White Pine Trading LLC, a well-established recycled diamond company, which buys recycled, polished diamonds either loose or in second-hand diamond jewelry, from the very smallest melee to one carat and above. White Pine remanufactures chipped, damaged and poorly cut diamonds, in order to homogenize appearance. It uses a significant proportion of its diamonds in jewelry, and resells the remainder, which is distributed primarily in the US and Asia to a network of industry participants, including retailers, jewelry manufacturers, diamond manufacturers, and dealers. White Pine follows the Kimberley Process and the DTC Best Practices Principles. It is a proud member of the Jewelers Board of Trade, the Jewelers Vigilance Committee and the National Pawnbrokers Association.

For further information please visit http://www.wpdiamonds.com or contact Matthew Howe at matt@whitepinediamonds.com +34 647 712 956.

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Matthew How
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