You’ve heard of a starter house, what about a starter diamond? Grow Your Own Diamond is a new concept that gives people the chance to buy a starter diamond and then, when they trade up, put the original full purchase price toward a new stone. In order to qualify the new diamond has to be bought within five years and worth at least 40 percent more than the original diamond. The concept comes from Jeff Cadby, a member of the London Diamond Bourse and Club. Interested people can buy online or in the store at the London Diamond Bourse and Club. All the diamonds are certified non-conflict diamonds.

Grow Your Diamond isn’t the first company to offer the trade-up concept. Many stores will allow you to trade in a diamond for a larger one and receive some money toward a bigger stone much the way car dealers accept trade ins. U.S.-based jeweler Ross Simons also has a policy similar to the Grow Your Own Diamond concept in regards to diamonds purchased in their stores. If you do decide to trade in your diamond at a different place than you originally bought it and don’t have certified paperwork from the GIA or another respected lab, you may want to get an independent appraisal first so that you are certain of how much your jewelry is actually worth before you go in and start the negotiation process.

[via Diamonds.Net]