Author Topic: Our Trade-Up Policy Explained......  (Read 5911 times)

Offline diamondjunkie

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Our Trade-Up Policy Explained......
« on: September 03, 2007, 03:29:07 AM »
Hi All!  I just wanted to take some time to expand on the Trade-Up policy that we offer here at DBL.

Our trade up policy allows clients to trade in a piece for another at least 2x the original amount.  Many companies do not offer a trade up policy at all.  We felt the need to do so and found that we could do it and make it work for both us and our clients at the 2x thresh-hold.  Every business is run differently and our focus has always been to bring the most beautiful stones at the lowest margins but still remain profitable.  We feel we are succeeding!  Other businesses may be able to offer trade-ins with a different trade up amount because they have a different focus: perhaps they will only allow you to trade in the diamonds and not the mountings (we do take the mountings as trade ins whenever reasonable), or they charge more for their stones than we do in the first place and perhaps both of those things and more.  Regardless, one thing is for sure: businesses do NOT make policies that only benefit their clients.  That would be foolish and financially suicidal.  Any business owner that claims otherwise is either being misleading, deceitful or is looking at bankruptcy in the near future.

Trade-in policies are not common place but it was something that we really wanted to extend to our clients.  We knew that it would be a great benefit and, while we run a tighter ship here at DBL, we knew we could find a way to offer trade-ins and have it work for both the client and us.  It's that simple and we know that many of you love it and have taken advantage of it - and we couldn't be happier for you!

Now, some people might have you believe that 2x the trade in amount is putting the customer at a disadvantage.  It has also been pointed out here recently that a rather large and well known design House offers a 2x trade in policy so are they wrong too?  Not at all.  In fact, that design house takes considerably more in profits from their sales than DBL does, yet we can still offer the same policy and have it work for all involved.  Another jeweler may offer a trade-up policy that allows smaller increases but there has to be a trade off somewhere - no business is going to intentionally hurt themselves repeatedly.  Honestly, I think most of us would prefer to pay a smaller profit margin for our pieces with the possibility of a 2x trade up, than pay an inflated profit margin for a smaller trade in policy that we may or may not even use.  If someone out there wanted to buy a diamond but never wanted to trade up, how would they feel about paying more in profits so that others could benefit from a more liberal trade in policy?  Seems a bit..........well........barking.  We want to make sure that EVERY client gets a great price - no matter what their future plans may be.

I hope you all know that here at DBL we pride ourselves on customer service.  We do everything we can to make our customers happy but, ultimately, you can't please everyone all the time - no matter what.  If anyone has any questions or concerns about our trade up policy or any other policy that we have in place, please do get in touch and hear it from the horses mouth - we're always happy to chat!
« Last Edit: September 03, 2007, 03:55:43 AM by diamondjunkie »

Offline Me-Ann

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Re: Our Trade-Up Policy Explained......
« Reply #1 on: September 04, 2007, 08:09:34 AM »
Ah, very nice post, and very informative.  Thank you!
*~Me-Ann~*

Offline chellip

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Re: Our Trade-Up Policy Explained......
« Reply #2 on: September 04, 2007, 10:42:09 AM »
I second the good post.....here's how I look at the policy:

My ring is my savings account for my future ring.....the lovely elusive pink that someday I shall own!!  ;D

Offline Sanchica27

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Re: Our Trade-Up Policy Explained......
« Reply #3 on: September 04, 2007, 10:52:22 AM »
nice thinking chellip!
always saving up for my next piece!

Offline luvnjewelry

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Re: Our Trade-Up Policy Explained......
« Reply #4 on: September 04, 2007, 05:23:18 PM »
Yeap... that is my intentions.  I hope I can take advantage of the trade up in the near future. >:D   Wheels are turning in my head.............

Offline Diamondsbylauren

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Clarification of the trade up policy...
« Reply #5 on: April 09, 2008, 06:04:21 PM »
More on how we offer our trade up policy:

We are always looking to improve our products and services, as well as the way we offer them.  The trade-up policy is one of those things that needs some clarification so that we all understand exactly what can be traded up and what can't.

The option to trade up is one of the benefits that we offer to our clients and we want to keep it in play - even when many of our competitors don't offer a trade up policy at all.  Complicating matters, is the fact that we do not work on the same margins that a typical B&M seller does.  We have less profits to work with and we have often taken a side swipe financially when a customer has traded up.  Although the policy was written to say we'll accept the diamond back for a trade up, we have always made every effort to accept both ring and diamond.

Looking to the future, we realize that if we want to keep offering our diamonds at such good prices AND maintain the trade up policy, we will need to apply the trade up policy in the manner it was always intended.  So I wanted to take some time to let you all know exactly what that means and to be here to answer any questions you might have.

Here's more specifics on how the trade up policy works:

1) We can accept a ring back as part of the trade up only if it was originally purchased from stock. If we made a ring specifically for you, the diamond will be eligible but not the ring or side stones

2) The item you are trading up to must be currently in stock.  That is to say, we cannot go out and buy a new diamond for you to trade up to - it must be one we're currently offering.  Thank heavens for such a wide inventory!

3) Trade ups can not be combined with other offers. If you are trading up, the trade-in value will be credited to the list price, not the forum special price.

To be able to continue to offer such a rich program, we need to make sure that it works for us as well as the clients.  While we want to make every one of you happy, we also want to be here offering diamonds for a good long time.
« Last Edit: May 16, 2008, 06:23:33 PM by Diamondsbylauren »
David
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Offline Sarahbelle

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Re: Our Trade-Up Policy Explained......
« Reply #6 on: April 09, 2008, 08:36:27 PM »
One eetsy-beetsy thing I'd like to know! Must your trade-up be for one item double the value, or could you trade up and use the 'doube the value' guide to get say, a band, some earrings and some jackets (for example)?

Offline GIAGirl

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Re: Our Trade-Up Policy Explained......
« Reply #7 on: April 09, 2008, 09:00:42 PM »
Dexter is shaking in his boots right now. 

Offline Sarahbelle

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Re: Our Trade-Up Policy Explained......
« Reply #8 on: April 09, 2008, 10:56:59 PM »
I meant in theory...  :xyxnervous:

Offline GIAGirl

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Re: Our Trade-Up Policy Explained......
« Reply #9 on: April 09, 2008, 11:53:42 PM »
Hey I think you owe me a picture of Dexter in a sundae. 

Offline Sarahbelle

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Re: Our Trade-Up Policy Explained......
« Reply #10 on: April 10, 2008, 12:55:39 AM »
I do! But like the stupid idiot I am, I deleted the picture off my camera. So I'm charging it's batteries while I'm at work, and when I get home I'm going to take photos of ALL my sparklies to make up for it :) (Well, except for my studs because they're on eBay).

Offline Diamondsbylauren

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Re: Our Trade-Up Policy Explained......
« Reply #11 on: April 10, 2008, 09:53:46 PM »
Quote
So if someone has a halo ring, and their ring was made using a cast semi mount does that halo count as part of the trade up since it was an in stock piece or is that also considered custom and also not eligible?  Just asking as that isnt a setting that is easily reusable when upgrading to a larger stone especially if its bezel set.  (dont own one yet, but want one in the very near future)

Good Question
Right now, for example, we have about 45 halo rings in stock
Any of them would qualify, if it is in good condition at the time of trade up.
That's one of the things about a trade a policy that I think is pretty strong... we try to keep a very strong  in-stock inventory.
« Last Edit: May 16, 2008, 06:25:13 PM by Diamondsbylauren »
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Offline brushystarling

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Re: Our Trade-Up Policy Explained......
« Reply #12 on: April 22, 2012, 07:04:42 PM »
I feel like a complete bugger asking so many questions on the trade up policy however, I want to make sure I know as much as I can  :-\

If we bought a stock ring however want to trade up only the setting, would it be possible to trade up on a semi mount and keep the stone?   :N1Please2HL1: The ring I am leaning towards is a three stone pear, however want to upgrade to a SO2436 in the future.

I am trying to provide my poor boyfriend with options before making any decisions. Poor guy really, I keep him on his toes.  >:D

My fault really, I am just so picky!

P.S. this question was probably answered in this thread, if so, sorry! Just want to make sure!  :D :)
« Last Edit: April 22, 2012, 07:09:39 PM by brushystarling »