Rising and falling unknown diamond repurchases still lack supervision

Since the beginning of this year, the value of diamonds has risen by 10%. According to data from the China Gemstone Jewelry Industry Network, the price of diamonds soared by 30% last year. Diamonds have become the new darling of many investors. In view of this gradually warming up market, pawn shops have recently lost no time in launching the diamond repurchase business, which sells diamonds that can be bought back at a later date.

"There is a certain risk of diamond repurchases. There is only an appraisal division and no appraisers at the mall, so it is impossible to get involved in the diamond repurchase business. And the repurchase must be based on bullish diamonds. Can anyone guarantee that the diamond prices will not fall in the next three years?" Huang Liang, head of sales at Beijing Guohua Mall, said.

Xing Hongbao, a senior pawn teacher of Huaxia Pawnshop, said that the newly launched diamond repurchase business is mainly for the bare diamonds and finished diamonds sold by the company. The main diamond must be more than 30 points, and the purchase price must be more than 5,000 yuan. The repurchase standard is that within a year, the actual sale price is set at a discount of 70%, and over three years, the full price will be repurchased at the actual selling price.

Buy a white diamond for three years, but also the original price repurchase, fly it?

"The use of diamond repurchasing to attract consumers is very successful." Industry sources said that due to the hard texture of diamonds, even if worn for a long time, the degree of wear is almost negligible. After the pawnshop is recycled, the new set-up is matched and it can be sold normally. If the repurchased diamonds are sold again, the repurchase business may become the pawnshop's new profit growth point in the context of rising overall diamond prices and currency devaluation.

“Businesses operating diamond repurchases will not sign agreements with consumers when they trade. A few years later the repurchase can be fulfilled as scheduled. This is the biggest concern.” The person said that in recent years, diamonds have generally appreciated. However, market conditions are up and down, and no one can guarantee that diamond prices will not fall. A few years later, if the price of diamonds falls, the promise of the original price repurchase is still not counted. In addition, due to the lack of third-party regulatory agencies, if the pawnshop is closed, it is also a question whether verbal commitments can be honored.