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Frequently Asked Questions
- How do I know your company is reliable?
- Is your business open to the public?
- How long has your company been in business?
- Where are you located?
- What is your phone number, fax number and email address?
- What are your hours of operation?
- What types of jewelry do you buy?
- What types of timepieces (watches) do you buy?
- Do you buy gold and platinum?
- How long does it take to ship and get paid?
- How long will it take to get my item back if your offer is refused?
- What forms of payment do you make?
- Can I reject your final offer once you examine it?
- How can I make sure your tentative offer on my diamond is close to your final offer?
- How can I make sure your tentative offer on my fine watch is close to your final offer?
- Do I pay any fees?
- Can I send my items in from any state?
- How do I know I will get paid?
- How do I know I will get the same item back?
- How safe is your shipping kit?
- How do I know your offer is fair? (Beware of "bait and excuses" tactics)
- What is the GIA Option?
- What is an appraisal for?
- What is lab report? GIA report?
- Can I sell someone else's jewelry?
- Is the tentative offer always accurate?
- If you claim the highest offers why are your competitors offering more?
- What is the "bait and excuses" tactic?
- Why not sell to a local pawnshop or jeweler?
- Why not sell to a private party?
- Are my items secure while in your possession?
- Do you remove gemstones or diamonds for valuation purposes?
- Is my transaction with your company confidential?
- Does Lovelady Diamond report my transaction to the IRS?
- Can I communicate directly with your expert buyer?
- Is email acceptable for communication?
- Are there warning signs I should watch for when selling to competitors?
- Does your company take consignments?
- Can I buy directly from your company?
- What other services does your company provide?
- Why deal with Lovelady Diamond?
How do I know your company is reliable?
Lovelady Diamond has been in business for 33 years and has grown from a small diamond cutting shop to one of the largest and most knowledgeable buyers in the country. We emphasize honestly, integrity and knowledge. If you explore our website you will note the large database of information concerning diamonds, gemstones and fine watches. Many websites and buyers simply can't offer this for lack of knowledge. If the knowledge isn't present, the offer will may times be inaccurate.
In addition please check our perfect track record with the local and online Better Business Bureaus.
Is your business open to the public?
Yes, we are open to the public. You are free to stop by but we do recommend a phone call first in regard to the serve we can provide. Map and directions
How long has your company been in business?
33 years. We've been in the same location for the last 23 years.
Where are you located?
We are located at 15466 Los Gatos Blvd. Suite 210, Los Gatos, CA 95032 Here is a link to our map and directions.
What is your phone number, fax number and email address?
Our local phone number is (408) 358-5336, toll free is (800) 854-0014, fax is (408) 358-5339 and email address is email@example.com
What are your hours of operation?
11:00 to 6:00 Monday through Friday, Saturdays please call for hours. Keep in mind we are Pacific time.
What types of jewelry do you buy?
The following list does not apply to dealers (pawnshops, secondhand dealers, estate liquidators). Please call us for brief description of your items. We are buyers for 1.00 carat and larger diamonds in all shapes and I1 and higher clarities. We also buy smaller diamonds in I1 or better clarities when arranged in quantities such as 4.00+ tennis bracelets, necklaces, rings or earrings. We do buy treated diamonds including clarity enhanced (fracture filled), laser drilled, irradiated, and HPHT. We buy vintage and modern jewelry including 9K, 10K, 12K, 14K, 18K, 20K, 21K, 22K and 24K. If you think you have an item that does have significant value ($1000+) please feel free to fill out one of our Online Quote Forms.
What types of timepieces (watches) do you buy?
We are primarily interested in purchasing watches that originally retailed for $2000 or more. We are especially interested in Rolex, Patek Philippe, and Cartier watches. Please feel free to fill our online Timepiece Quote Form.
Do you buy gold and platinum?
Yes. We pay very competitive prices for gold and platinum jewelry.
How long does it take to ship and get paid?
We do offer overnight service via U.S. Postal Express Mail, but highly recommend U.S. Postal Registered Insured mail in which we can send out a free shipping kit for. U.S. Postal Registered Insured mail is by nature slow (can take up to 7 business days depending on origin) but we find the most reliable. To date out of the thousands of packages sent and received. The Postal system has only lost one Registered Insured package, and they did promptly pay the insurance claim. Here is the link for our free shipping kits and do-it-yourself-shipping.
Generally payment is made within 24 hour of receipt. If your item is urgent let us know so we can expedite processing and overnight payment. Return of merchandise will go out U.S. Postal Registered Insured Mail. If you request overnight return of your merchandise please understand in the event of a loss we cannot pay your claim until we get reimbursed on the insurance claim. We will insure only for actual replacement value and consider anything over that amount an attempt of fraud and deception.
How long will it take to get my item back if your offer is refused?
Return of merchandise will go out U.S. Postal Registered Insured Mail (takes up to 7 business days). If you request overnight return of your merchandise please understand in the event of a loss we cannot pay your claim until we get reimbursed for the insurance claim. We will insure only for actual replacement value and consider anything over that amount an attempt of fraud and deception. We of course will take full responsibility of returning your item immediately and in the event of a loss paying you for actual replacement cost after we are reimbursed.
What forms of payment do you make?
Upon your approval we put a business check in the mail the same day we make the offer. Wire transfer or PayPal are also available. Overnight service is available upon request.
Can I reject your final offer once you examine it?
Yes. There is absolutely no obligation to accept our final offer. We give a detailed description of your item which we base our offer on. Our tentative sight-unseen offers are only as good as the accuracy and amount of information we get from the seller beforehand.
How can I make sure your tentative offer on my diamond is close to your final offer?
A GIA (Gemological Institute of America) or an AGS (American Gem Society) report is a good example of thorough and a generally accurate description. Not everyone is going to have such a report so we would suggest showing it to a diamond expert before sending it. Make sure you emphasize GIA/AGS accuracy including: carat weight, measurements, color, clarity, table percentage, depth percentage, girdle thickness, polish, symmetry, culet size and the presence of fluorescence. Here is a link to a picture of a GIA report. Here is a link to a picture of an AGS report. Here is a link to a list of negative and positive characteristics of a diamond
How can I make sure your tentative offer on my fine watch is close to your final offer?
In describing your watch keep these characteristics in mind: A brand new watch does not have to be a current model but it must be virtually unworn. It includes all the protective inserts and must include everything it came with out of the factory. A watch in Excellent Condition has very little or no bracelet stretch, very, very light scratches on the case and/or bracelet; no visible wear on leather bands, no nicks or scratches on crystal; all links included; Very Good to Good Condition would include a varying degree of scratches, slight to moderate bracelet stretch; Poor to Fair Condition would include more extreme degrees of bracelet stretch or obviously worn original strap; scratching and/or dents on case and/or bracelet that would not come out in normal polishing. Especially difficult to remove are visible scratches on the bezels, especially time lapse bezel and enameled bezels. Here is a link for negative and positive characteristics for fine watches
Do I pay any fees?
The only out-of-pocket expenses would be the shipping to Lovelady Diamond. The fee varies depending on the weight and insured amount. Typical U.S. Postal Registered Insured fees would be $15 to $40. We would be liable for all expenses including responsibility of reimbursing you for fair market value in the event of a loss and return shipping fees for Registered Insured US mail. Any other additional costs would be discussed with you beforehand. Here is a link to Postal Registered Insure Mail Fees
Can I send my items in from any state?
We accept packages from every state in the U.S. and its territories.
How do I know I will get paid?
Payment is made immediately upon acceptance of our final offer. We pride ourselves in paying quickly to maintain an already excellent reputation. After 33 years in the business we want to stay on the top of the buying market. We must keep our reputation untarnished which includes a zero complaint report at the Better Business Bureau. We also deal in volume with the trade and must keep that side of the business untarnished so we can get large amounts of goods with a phone call. We are rated #1 in the Jeweler's Board of Trade and have an excellent rating with Dunn and Brad Street. The bottom line is without the reputation a company simply would not survive in the buying business. Here is a link to the BBB
How long will it take to get my item back if your offer is refused?
We ship your item back via U.S. Postal Registered Insured mail within 48 hours of a rejected offer. This usually takes 2-7 days depending on your location. If you would like your item back on your own overnight service account, please let us know.
How do I know I will get the same item back?
We of course have to be very careful in tracking and returning your valuables for obvious liability factors. We have a perfect track record with the BBB and must maintain that to keep a reputation of honesty and integrity. Remember, anyone who uses the U.S. postal system to steal from another person is guilty of mail fraud. This is a serious crime and punishable by fines or imprisonment. Here is a link to file a complaint concerning mail fraud.
How safe is your shipping kit?
Our free shipping kit is designed specifically for U.S. Postal Registered Insured mail. This is the safest and most reliable method of shipping in the U.S. today. In the past 33 years out of the thousands of U.S. Postal Registered Insured packages we've sent and received we have only lost one in which we were reimbursed for. Here is a link for filing a claim in the unlikely event of a loss. If the loss occurs on the return to you we would file the claim and take full responsibility for the predetermined insured amount. Our shipping kit contains a choice of several box sizes specifically designed for U.S. Postal Registered Insured mail. We include the necessary forms and shipping materials with easy to follow instructions. Here is a link to our shipping kit page
How do I know your offer is fair? (Beware of "bait and excuses" tactics).
We can only expect to buy your merchandise if our offer is fair. By keeping close tabs on market conditions (supply and demand) we are well aware of actual cash selling prices and must be very close to that to out bid other less informed sources. Be aware of the "bait and excuses" tactics that some online buyers use. Some will make an artificially high offer on your merchandise and once they receive the item the offer is dramatically lowered based on minor details. We suggest you get the item checked locally for accuracy of description and then local cash offers before sending it out. This will give you the confidence that the offer is fair and the description of the buyer is accurate. GIA and AGS diamond reports will give Lovelady Diamond the opportunity to typically be within 3% of actual final offer. Other buyers that vary dramatically in their tentative offers and their final offer have little excuse when they've previously reviewed your GIA or AGS report. Also be aware that we are the only company that offers "The GIA Option" for qualified diamonds, to show that we are being completely unbiased. Here is a link to a picture of a GIA report. Here is a link to a picture of a AGS report
What is the GIA Option?
Many times we receive diamonds that we do not agree with the grading due to an over optimistic appraiser or a poorly done lab report. To prove to our sellers that we are making fair offer we have introduced The GIA Option program. We first buy the diamond for an agreed upon amount with an additional schedule of a further payment if it comes back from the lab a higher grade. It protects you, the seller from selling too low based on a grade that is perhaps too harsh and protects the buyer, ourselves, from overpaying for a diamond that is returned with a lower grade than expected. Certain diamonds that do not warrant the expense may not qualify for this option. Please see The GIA Option page for a more detailed explanation.
What is an appraisal for?
An appraisal is specifically for the insurance replacement value. When you buy fine jewelry or fine timepieces you should always get an appraisal from the seller describing the specs and retail replacement value of item. Your insurance company should have a record of this on file in case you were to file a claim of loss or damage. The value on the appraisal where jewelry is concerned is rarely paid in full by the insurance company. Typically their adjuster would contact different sources to find the best possible prices and reimburse you for the claim based on the lowest quote. Appraised values are generally marked up artificially high to impress the buyer. In addition many times the appraiser will not describe the item accurately and will exaggerate the quality to inflate the retail value. We suggest before sending your item out for a cash offer you get it checked by an expert and make sure to emphasize "accurate description". In the case of fine watches it is easier to determine value with the exact model number, name and serial numbers. The variance of our tentative offer will be based on exact condition.
What is lab report? GIA report? AGS report?
There are many gemological labs in business to create reports for diamonds and gemstones for the purposes of documentation of their opinion on specs and grading. Not all lab reports will have the solid reputations of general consistency of grading. The labs we find the most consistent are GIA (Gemological Institute of America) and AGS (American Gem Society). Do not confuse an appraisal done by a graduate or member of these organizations. Here is a link to a picture of a GIA lab report and AGS Reports.
Can I sell someone else's jewelry?
On the Customer Mail-In Inventory Form [ PDF Format ], the actual legal owner of the item must fill this out and sign it. For communication purposes the person can assign an agent to deal wit the item(s) for sale. The business check will be made out to the legal owner on the Customer Mail-In Inventory Form only.
Is the tentative offer always accurate?We try very hard to give you, the seller, an accurate offer sight unseen, but you must be aware the offer is based on the information described on the phone. Unfortunately sometimes the specs on the appraisal given are incomplete or inaccurate and the offer must be adjusted accordingly. Examples of tentative offers that are 98% accurate is a brand-new watch that has never been worn. Here is a link to the negative and positive characteristics of fine timepieces. A diamond accompanied with an AGS or GIA report in which we were able to view a copy of before the item is sent. Here are links for examples of GIA and AGS reports.
If Lovelady Diamond claims the highest offers why are your competitors offering more?
Don't assume an offer is higher until the buyer has examined the item and given you the final offer. Beware of "bait and excuses" tactic. Our company does not subscribe to the idea of offering artificially high values on the phone only to disappoint you with a dramatically lowered offer once the item is received. If dealing with one of these buyers feel free to have them forward the item with your permission to our company. Here is a link to our shipping address.
What is the "bait and excuses" tactic?If a buyer makes an artificially high offer based on an accurate description and then offers dramatically less once the item is received due to trivial excuses or over exaggerated under-grading this is what we refer to as "bait and excuses". This is not excusable and we recommend you have the item returned immediately or forwarded to Lovelady Diamond for an accurate assessment and competitive offer. Also be aware that the appraisal that you received originally may be inaccurate or over-graded in the description. In this instance the "bait and switch" tactic does not apply if the buyer is being honest and fair with the offer.
Why not sell to a local pawnshop or jeweler?
Pawnshops are generally in the business to make loans. If you want a loan, which would typically be far less what Lovelady Diamond would be willing to pay outright, and you're confident that you will be able to pay the loan back according to the given terms, this is a good way to get quick funds for an emergency. If you do not plan on keeping the item this would not likely be your best return. Some jewelry stores buy jewelry but not too many. Most of them want you to leave it on consignment or trade the item in for a more expensive item. We do encourage you to compare offers and get feedback from other sources before dealing with the professionals at Lovelady Diamond.
Why not sell to a private party?
Selling to a private party or end-user would be your highest return. When you sell to a private party you are typically selling to a person who will use the item not resell it for a profit. It would be for personal use or perhaps a gift for a loved one. The downfalls of selling to private parties include: #1 Fraud is rampant in today's society. These criminals are especially attracted to small transportable valuables such as fine jewelry and timepieces. Watch out for what is now turning into sophisticated scams in white collar crime. #2 The time and effort you invest in liquidating your item may not result in a sale. Sometimes it takes long periods of time to locate and close a sale to a private party that is looking for your specific item. #3 The expense of advertising your item will likely be unrecoverable. If your item is sold or unsold the advertising publication still collects their fee.
Are my items secure while in your possession?
Our premises are protected by alarm systems including panic buttons, window and door sensors, movement sensors, video surveillance and a UL rated professional jewelers safe. Many other security measures are in place which we cannot disclose for obvious reasons. To qualify for Jewelers Block insurance a company must maintain specific requirements to meet its criteria. Your valuables are 100% insured against burglary and theft under our policy with Jewelers Mutual. Here is a link to the Jewelers Mutual page.
Do you remove gemstones or diamonds for valuation purposes?
We would never remove a diamond or gemstone that we do not own without specific permission from the potential seller. In certain instances we would ask your permission to do so to maximize an offer. Sometimes due to the style of a mounting, diamonds and gems cannot be graded accurately until loose. In the event after permission is granted and the potential seller decides on having us return the item we of course re-mount it in exactly the same fashion. Many times our sellers would like their mounting returned and so again with permission we remove the stone before returning.
Is my transaction with your company confidential?
Does Lovelady Diamond report my transaction to the IRS?
Individual names are not reported to the IRS, just the cost of goods being purchased.
Can I communicate directly with your expert buyer?
Yes. Our expert buyer will contact you directly by phone or email (or fax if requested). If a message is left on your voice mail or if you would like to call in regard to an email, our buyer is available to discuss the details with you.
Is email acceptable for communication?
Yes. If email is more convenient for you please note that on the Customer Mail-In Inventory Form when sending your items in. Our email address is: firstname.lastname@example.org
Are there warning signs I should watch for when selling to competitors?
We often are forwarded email offers from some of our online competitors which indicate values that would exceed actual wholesale replacement cost. We call this the "Bait and Excuses" method. Once they receive the item the offer is reduced dramatically based on frivolous details. We would recommend checking the Better Business Bureau website for complaints against the potential buyer. Watch for organization memberships, which is a reflection of the seriousness and professionalism of the buyer. Better Business Bureau
Does your company take consignments?
If we feel your item is substantial enough we would consider a consignment. The goal of the consignment would be a higher selling price for the consignor. Feel free to ask if your item is something we would take for this purpose. Normally we make offers based on immediate payments. Here is our link to our Online Quote Forms
Can I buy directly from your company?
Yes. We are open to the public locally and nationally. Since we do not have the typical expenses of a retail jewelry location, we are able to sell at substantial discounts compared to retail prices.
What other services does your company provide?
We provide the following services: Buying and selling diamonds, jewelry, fine watches and precious metals; jewelry repair ; custom design, casting fabrication and stone setting; diamond cutting; and education through our self instructional course Mastering Diamonds.
Why deal with Lovelady Diamond?
In the 33 years we've been in business we have always emphasized education, honesty and integrity. We've included large amounts of information about the products that we buy and sell so you can use it for your own purposes. Included is perhaps the largest internet resource for diamond research on both an advanced and basic level. We hope that our website gives you the insight in choosing the company to deal with. We are always available to discuss your needs or concerns in our office, on the phone or via email. Give us a try and you'll be pleasantly surprised at the professional service and accurate knowledge conveyed.