by Tim Goodman, CEO GET-Diamonds.com
Sydney, 8th December 2025
The Western world is experiencing an explosion in second-hand luxury goods. Baby Boomers (1946–1964) are passing on their treasured possessions to their descendants or friends. Our parents – and their parents – were the greatest consumers of luxury goods in history.
There is now a fantastic opportunity for retailers and diamantaires generally to attract young customers to buy new jewellery straight out of the window (or the safe) that they can now afford — by leveraging grandma’s old jewellery as a trade-in.
Boston Consulting Group (BCG) indicates that the global pre-owned hard luxury market (primarily watches and jewellery) was worth approximately €21 billion in 2020 and was growing at 8% annually. BCG also notes that the overall second-hand market is expanding significantly, with the luxury resale market set to reach US$320–$360 billion by 2030.
Bricks-and-mortar retail stores are struggling to get new “bums on seats” (an Australian expression, sorry). Younger generations still want to buy, but many can’t afford retail prices. So your business announces to the world that you “accept trade-ins”. Suddenly, you attract an entire new group of prospects that you did not have previously.
Put a sign in the window; announce it on your social media accounts and on your website. Let your local newspapers know and get them to write an article about you and your trade-in service.
However, the problem is: “What’s it worth?”
GET-Diamonds (GET) can help. GET has a natural diamond Auction Estimator to help you work out how much second-hand diamond jewellery is worth if liquidated at auction, so you know how much to offer the trade-in customer. The estimator draws on 20,000 auction sale results from auction centres around the world over five years.
All you have to do is join GET. It’s free, as GET is owned by the World Federation of Diamond Bourse.
If you want to get some tips on the trade-in business, you are welcome to contact me directly: tim.goodman@yourdimaonds.com
