Effective date: 06/01/2025

Lumyn’s Buyback Program lets you sell eligible Lumyn jewelry back to us at a fair market value for its precious metal and diamonds. Making and setting costs are not included in buyback value.

1) Program Scope

• Eligible items: Authentic Lumyn jewelry only. Each piece must bear a Lumyn stamp/mark and be verifiably produced by Lumyn.
  
• Ownership: You must be the legal owner. We may require proof of purchase, original invoice, and matching certificates.
  
• Geography: Available in the United States. International customers may be subject to additional requirements.
  
• Right to refuse: Lumyn may decline items that fail authentication, are materially altered, or are uneconomic to process.
  

2) Definitions

• Date of receipt: The business day our facility scans your shipment as delivered.
  
• Spot price: The market price for a precious metal per gram on the date of receipt from a reputable data source.
  
• Net precious-metal weight: Total weight of gold/platinum/palladium/silver in grams, excluding non-metal components (stones, solder, adhesives, etc.).
  
• Purity factor: Fineness of the metal. Example factors: 24k=0.999, 22k=0.916, 18k=0.750, 14k=0.585, 10k=0.417.
  
• Certification: Diamond grading reports from IGI, GIA, or SGI, when applicable.
  

3) Valuation Methodology

3.1 Precious metals

Metal Value = Net precious-metal weight × Purity factor × Spot price (per gram on date of receipt) × (1 − 0.05 refining deduction) - If weight or purity markings are unclear, we may assay or refine to determine net values.

3.2 Diamonds

We price diamonds based on market benchmarks on the date of receipt. - Natural diamonds: Priced using an industry benchmark price guide for size/color/clarity/cut (e.g., Rapaport) minus a standard 25% market discount, with adjustments for cut quality, fluorescence, symmetry, and other factors reflected on your grading report. - Lab-grown diamonds: Lumyn controls the manufacturing of its lab-grown diamonds, ensuring they are always priced fairly. Payout equals the prevailing wholesale market value for the equivalent stone on the date of receipt. - Uncertified stones: May require third-party grading. Any grading/authentication fees will be disclosed and deducted only if you accept the buyback offer. - Fancy shapes/colors or treated stones: Valued case-by-case using current wholesale comparables.

3.3 What is not included

• Making, design, and setting costs are excluded from buyback value.
  
• Non-precious materials and non-diamond gemstones may have limited or no buyback value unless market comparables exist.
  

4) Submission & Logistics

• RMA required: Request a Buyback RMA via the form on shoplumyn.com. Do not ship without an RMA.
  
• Packaging: Use the original box if available and secure the item to prevent movement. Include copies of certificates and invoice.
  
• Shipping: Upon request, Lumyn can provide an insured label. The cost of label/insurance may be deducted from your payout and will be disclosed in your quote. You may also choose your own insured carrier at your cost and risk until delivered to Lumyn.
  
• Chain of custody: We photograph and record your item upon arrival and during inspection.
  

5) Inspection & Authentication

• In-house inspection: Initial evaluation, weighing, and measurement occur in our facility.
  
• Third-party verification (as needed): For certain items, Lumyn may use an independent gemological lab. We will notify you before incurring any fee; fees are deducted only if you accept the offer.
  
• Unmounting: For accurate diamond grading, stones may need to be unmounted. We will obtain your consent before unmounting. If you decline, we will value based on estimated measurements and reserve the right to adjust the quote after any required unmounting.
  

6) Quotes, Timing & Payments

• Pricing date: Valuation is fixed on the date of receipt at our facility.
  
• Quote timing: We aim to issue a written buyback quote within 3 business days after inspection.
  
• Offer validity: Quotes are valid for 2 business days due to market volatility. If you accept after expiration, we will reprice at current market levels.
  
• Payment timing: Payment is issued within 7–14 business days after your written acceptance and completion of any required third-party verification.
  
• Payment methods: Bank transfer/ACH or Lumyn store credit. If store credit includes a promotional bonus, it will be disclosed in your quote.
  
• Title transfer: Title transfers to Lumyn upon payment issuance. If you decline our offer, we will return your item using an insured method. Return shipping costs will be disclosed and may be your responsibility.
  

7) Compliance & KYC

• Identity verification: Government-issued ID and proof of address may be required, especially for higher payouts or where mandated by law.
  
• Secondhand dealer laws: Lumyn complies with applicable secondhand/precious-metal purchasing laws. Additional holding periods or disclosures may apply based on jurisdiction.
  
• Anti-fraud: Submissions with mismatched serials/hallmarks, altered stones, or tampered certificates will be rejected and may be reported.
  

8) Warranties & Interactions with Other Policies

• Craftsmanship warranty: Our buyback program is separate from and does not limit your craftsmanship warranty (stone-setting and structural workmanship). Warranty does not cover free resizing or normal wear.
  
• Returns: Standard items are returnable within 30 days per our Return Policy. Custom pieces are final sale and not eligible for return; they remain eligible for buyback under these T&Cs if otherwise qualified.
  

9) Exclusions & Limitations

• Items without a Lumyn stamp/mark or proof of origin.
  
• Items with undisclosed damage, missing or altered stones, or non-original components.
  
• Items with conflicting or unverifiable grading documents.
  
• Items seized or restricted by law enforcement or legal claim.
  
• Liability: To the maximum extent permitted by law, Lumyn’s liability is limited to returning the item (if offer declined) or paying the accepted buyback amount. We are not liable for indirect or consequential damages.
  

10) Dispute Resolution & Governing Law

• Governing law: State of Texas, USA, without regard to conflict-of-laws rules. Venue for any permitted court action is in Dallas County, Texas.
  
• Resolution: Before litigation, the parties agree to attempt good-faith negotiation. If required by law or agreed by the parties, disputes may be submitted to binding arbitration administered by a recognized arbitral forum.
  

11) Policy Changes

• Lumyn may update these T&Cs. Changes apply prospectively and will be posted on shoplumyn.com with a new effective date.

12) Straight-Talk Summary (Read this first)

• What you get paid for: Precious metal value and diamond value at market on the day we receive your item. No payment for making/design/setting costs.
  
• How we price metal: Net weight × purity × spot × (1 − 5% refining deduction).
  
• How we price diamonds: Natural diamonds reference an industry price guide with a typical 25% market discount. Lumyn lab-grown diamonds are controlled by our own manufacturing process, ensuring they are always priced fairly at current wholesale levels.
  
• Timing: Quote in ~3 business days. Payment 7–14 business days after acceptance.
  
• If you say no: We return your jewelry, insured. You may be responsible for return shipping.
  

13) FAQ

• “Why no payment for making costs?” Making costs pay for artisan labor and production. These are not recoverable in the secondary market, so buyback covers only intrinsic value.
  
• “Are you lowballing lab-grown diamonds?” Lumyn controls the production of its lab-grown diamonds and ensures they are priced fairly in line with the prevailing wholesale market.
  
• “What if prices move after I ship?” Your valuation is fixed on the day we receive your package, not the day you ship.
  
• “Can I be paid faster?” Choose store credit if a promotional bonus is offered, or select ACH with standard processing times. We cannot guarantee same-day payouts due to authentication steps. In some cases it is possible to get get paid the same day. 
  
• “Do I need the original certificate?” Yes, for diamonds. If missing, we may require grading. Any grading cost is disclosed and deducted only if you accept our offer.
  
• “What if my stone is loose?” Craftsmanship issues are covered under warranty. Buyback proceeds and warranty service are separate processes; ask us which route fits your goal.
  
• “What if I used my own shipping?” Risk of loss remains with you until our facility scans the package as received. Use insured shipping and keep your tracking.
  

Contact: Use the Buyback form on shoplumyn.com. Do not ship any item without an RMA.

These T&Cs are a commercial policy summary and do not constitute legal advice. Consider independent legal review for your records.