This is Kay's primary way of "taking back" jewelry. You trade in a diamond you bought from them to get credit toward a new one.

They only pay for the metal content . They do not compensate you for diamonds or gemstones in these pieces—you are advised to have them removed before shipping.

They typically credit you 100% of the original purchase price (minus taxes and shipping). 2. Kay Jewelers Gold Exchange

Generally limited to diamond jewelry originally purchased from Kay. Some stores may accept "foreign" diamonds (not bought at Kay), but this is less common and relies on an in-store assessment.