Sentiment over size

Want a bigger rock than the one you have on your finger? Jewellers are offering diamond upgrade schemes but the response has been less than sparkling


DIAMONDS may be a girl's best friend, but she does not always want a big posse.

A check found that at least four jewellers here offer 'diamond upgrades', a service introduced about four years ago which allows customers to trade their gems for bigger ones within a certain period by topping up the price difference.

But women here apparently fancy their rocks - even if they are tiny ones - too much to want to upsize them.

Soo Kee Jewellery says the number of customers who return for bigger rocks is 10 per cent of its total yearly sales transactions, while Lee Hwa Jewellery estimates its figure to be less than 5 per cent. At Goldheart Jewelry, the figure is just 1 per cent. Citigems declined comment.

Mr Kean Ng, Lee Hwa's senior marketing manager, attributes the lacklustre demand to the sentimental value people attach to diamonds.

'When people buy diamonds, it's usually intended as gifts so the recipients would want to keep the original because of its sentimental value,' he says.

Take teacher Koh Li Ling, 29, who received a 0.6-carat diamond ring when her husband proposed 11/2 years ago.

'I wouldn't trade in my diamond ring because this is the first ring I received from my husband. The sentimental value makes up for the fact that the diamond isn't that big,' she says.

Ms Geraldine Loh, senior brand manager of Soo Kee Jewellery which launched the upgrade deal in 2003, describes it as 'a little like paying for your dream diamond in instalments'.

This is how the scheme works: At these four home-grown jewellers, the full value of the diamond is guaranteed for two years from the date it is purchased.

This means the value of the diamond you buy will not depreciate even if prices of diamonds fall during that period.

If you fancy a bigger bauble, head back to the store with your receipt and diamond certificate within two years, return your old diamond and top up the amount needed for the gem of your choice.

The certificate serves as proof of the diamond's attributes such as its cut, colour, clarity, carat weight and measurements.

Ms Loh says the scheme is a form of customer goodwill and a mark of assurance where the quality of the diamonds is concerned.

'If we are willing to guarantee the value of our diamonds, it shows that we have confidence in their quality,' she adds.

But Soo Kee's upgrade scheme extends only to its premium range of diamonds, Brilliant Rose and Staria, which are certified by the Gemological Institute of America.

Also, customers must upgrade to a rock that is worth at least 35 per cent more than their current one.

There is no such requirement at Lee Hwa, Citigems and Goldheart, which are owned by the Aspial Corporation.

Lee Hwa Jewellery's Full Value Guarantee, launched in 2003, applies to its trademark Destinee diamonds. Citigems offers the deal on its Rosella and Zegnia diamonds while Goldheart does so for its Celestial diamonds.

All three jewellery chains also extend upgrade services to customers who buy internationally certified diamonds of at least 0.3 carat.

Other jewellers LifeStyle approached which do not offer the scheme, such as Tiffany & Co. and Mondial, declined to comment.

Mr Mah Boon Ei, a manager at Poh Heng Jewellery, says the company is looking into the scheme.

He notes, however, that 'jewellery buyers tend to be rather sentimental'.

'More often than not, they would rather buy a new diamond than exchange it for a bigger piece.'

But business development manager Tammy Chiam, 31, is happy with the upgrade deal.

She forked out an extra $5,000 to trade her $8,000 0.5-carat engagement ring from Soo Kee for a 0.75-carat rock after her wedding in February last year.

While she was pleased initially with the first ring, she decided after three months that she would be happier with a bigger diamond.

Her rationale: 'If I'm happier with a bigger rock, I'll wear it more often and for a longer period.'