Terms and Conditions

Terms and Conditions

The Diamond Lighthouse Dealer & Vendor Network

Join us as we bring the future of diamond buying to you today

Diamond Lighthouse is proud to introduce a system for Dealers, Vendors and Jewelers to purchase diamonds in an innovative new way. The purpose of this document is to fully explain and clarify all of our policies and supply you with all the relevant information you will need. Read More

Along with the introductory details on becoming a member of our network, you will find our Terms and Conditions, which extensively cover all of our company's rules and regulations.

The process for becoming a member of our network of Dealers and Vendors is a straight forward and simple one. The initial step is to submit a basic application form online, or to call the Diamond Lighthouse office. Once we have received your primary information, we then email you a full credit application. After you send in your credit application, we carefully review it and then send you notification of your status. If your application is lacking any pertinent information, we provide you with the details on what you need to complete it. Once you have been approved, we send you a detailed step by step outline on how the process works. We then send you an email with all of the current inventory that we have in stock, along with information on how you can make bids on these items. You are able to provide us with the specifications of diamonds that you are seeking in particular, and we take special attention to alerting you when such items come in. We also send out a "Diamond of the Week" email, which features the most desirable item that we have in stock. Last, we send out a weekly email that lists all of our recently sold items and any other relevant announcements.

When you are ready to place a bid on a stone, there is a simple template form that you fill out and email to us. We notify you that your offer has been received via email, review your offer and submit it to the seller. If your offer is accepted, we send you confirmation and the steps you need to take to remit payment. We send you an invoice and you then have 24 hours to send us payment. Once we process your payment, we send you a final email confirming that the sale is complete.

There are no fees associated with joining the Diamond Lighthouse network of Dealers and Vendors

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Bidding Process

When a new diamond comes in, we immediately do a full evaluation of it in our lab. We have in-house, GIA trained gemologists working here who provide industry leading evaluations on each stone. Read More

We then upload this information to our list of current inventory and send out an email alerting all relevant parties of this new item. The bidding process can now begin; only official Diamond Lighthouse Dealers and Vendors have access to this information.

In this initial email, we include the comprehensive elevation of the stone, a clear photo of it, the timeframe that bids can be received until (may change at Diamond Lighthouse's discretion). In certain circumstances we might list a minimum bid for the particular item listed.

Diamond Lighthouse Dealers and Vendors may request to view the item(s) they are bidding on in person. With the permission of Diamond Lighthouse, can view said merchandise at the Diamond Lighthouse facility, and possibly off-site at the discretion of Diamond Lighthouse.

Diamond Lighthouse Dealers and Vendors may not hold any diamonds or diamond jewelry they are bidding on for the purpose of consignment.

Once you officially place a bid on an item, either in writing via email or over the phone, it immediately becomes binding for a 48 hour period. If your bid is accepted, you must pay the full amount of your bid.

If your bid is rejected/not selected, you will be notified within 2 standard business hours.

Diamond Lighthouse reserves the right to withdraw stones from auction at any point, prior to a bid being selected.

After bids have been received, the seller has the right to either select any bid they choose, or withdraw their item(s).

All bids are on a price per carat" basis, and are not subject to change based on any market fluctuations or industry lists.

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Selection of Bids, Shipping and Payment

Once a bid has been selected, The Diamond Lighthouse Dealer or Vendor with the winning bid will be alerted that they have won the auction within one standard business hour of the auction closing. Read More

The Diamond Lighthouse Dealer or Vendor with the Winning bid must then wire the full amount of the bid to us within 24 hours of such notice (note that it is in every party's best interest to remit payment as soon as possible.) The diamond will be shipped to the auction winner at the expense of Diamond Lighthouse (if in the U.S.) and only after receipt by us of the payment due by the auction winner in full. The item(s) will be shipped to the auction winner within 1 to 2 standard business days via our secure shipping policy. The item(s) may be personally delivered if it is feasible to do so, at the discretion of Diamond Lighthouse.

Certain leniencies may be granted regarding the time frame for payment, fully up to the discretion of Diamond Lighthouse, depending on your credit rating.

After receiving the item(s), the Diamond Lighthouse auction winner has ONE standard business day to review the item(s) and contact us in writing with the nature of any disputes.

Diamond Lighthouse guarantees the stone specifications stipulated in our evaluation certificate, within .02 difference in carat weight, between one level of clarity, between one level of color, and one grade of fluorescence. In the case of any discrepancy, within 24 hours of the Buyer receiving the merchandise, Diamond Lighthouse will submit the stone to the GIA, at the losing party's expense, for clarification of the stone's specifications.

If the item(s) description is substantially different from our auction description, upon the auction winner's receipt of the item(s), and the winning Diamond Lighthouse Dealer or Vendor rejects the transaction (or Diamond Lighthouse accepts the Dealer or Vendor's rejection on some other basis), the auction winner must ship the item back fully insured to us within 3 days; the Diamond Lighthouse Dealer or Vendor will bear the shipping and insurance costs, based on the value of the winning bid unless otherwise agreed upon by Diamond Lighthouse.

The Shipping insurance of an item will be automatically based on the Bid Amount of the Winning Bid.

If the item is damaged during shipping, Diamond Lighthouse assumes responsibility, UNLESS the Diamond Lighthouse Dealer or Vendor has chosen to use a shipping agency other than the one provided by Diamond Lighthouse.

All offer confirmations must be received in written form (even if offer is initially accepted via telephone). Failure to do so could result in the voiding of the offer.

Diamond Lighthouse accepts payment in the form of bank wire transfer, check and cash. The following procedures for remitting payment must be adhered to:

  • a. Direct Deposit: You can send a direct bank deposit to us which will clear into the account within two business days. There is no fee to send payment this way, and we will also send you a payment confirmation receipt.
  • b. Check: You may mail a check to the following address: Diamond Lighthouse, 580 Fifth Avenue, 34th floor, New York City, NY, 10036. Upon receipt of your check, we will send a confirmation of payment received.
  • c. Cash: Must be received in person at our offices at the aforementioned address.

***Dealers and Vendors agree to act in accordance with the General Second Hand Buyers' regulation, which states that buyers of second hand goods must retain possession of said goods for a period of no less than 9 days before the reselling of those goods.

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Breach of contract, exclusion and termination from the Network

Failure to remit payment within the 24 hour period of your bid being selected will be considered a breach of contract. In this case, you acknowledge that Diamond Lighthouse may be entitled to punitive damages in an amount equal to twice the bid amount. Read More

This is because a failure to ensure payment in the allotted time frame can cause substantial damage to Diamond Lighthouse and our reputation. If a Diamond Lighthouse Dealer or Vendor engages in price fixing, attempts to manipulate or corrupt the auction process in any duplicitous manner, or violates, intentionally or not, any of the general Diamond Lighthouse Terms and Conditions, they may be immediately and permanently removed from the Diamond Lighthouse network.

If any member of the network attempts to engage in "price fixing" (the act of colluding with one or more members with the goal of keeping prices artificially low), then that member will be immediately disqualified from the network. Diamond Lighthouse reserves the right to seek damages in this case as well (as this hurts and undermines the nature of Diamond Lighthouse's business, which promulgates an open bidding platform).

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Code of conduct, Licensing and additional clauses

Dealers and Vendors shall employ common sense and respect our rights and the rights of third parties. Read More

Dealers and Vendors recognize that all items displayed for auction are on a confidential basis, meaning that Dealers and Vendors are not to share any information (including specifications and photos) of the items with outside parties, for any purpose.

The Diamond Lighthouse Dealer and Vendor Network is intended only for participants that can lawfully enter into and form contracts under applicable law.

Dealer and Vendors must provide a copy of a valid resale certificate replete with their active license number.

Dealers and Vendors must notify Diamond Lighthouse of any significant change to their business or their credit rating.

Our main means of communicating with Diamond Lighthouse Dealers and Vendors are electronic means. Dealers and Vendors must provide us with accurate and complete contact information when registering, and you must maintain a current & valid email address. The main method of communication that we employ may be updated to different formats over time.

Dealers and Vendors agree to not to use our name or our brand names (or any name that is confusingly similar to either) for any purpose without our prior written permission. Dealers and Vendors undertake not to register any domain name that incorporates our names, trademarks or that is confusingly similar to our names or trademarks.

In the event that Diamond Lighthouse, Inc. should change its name, or operate under a different name, all of the same rules, regulations and conditions stipulated in this document still fully apply.

The Diamond Lighthouse Dealers and Vendors give full permission that we may use their name, details, pictures and images for our online and offline marketing materials, all digital media, including, but not limited to, our website. Dealers and Vendors hereby grant us an irrevocable, worldwide, perpetual license to utilize these materials for no additional consideration.

The Diamond Lighthouse Dealers and Vendors fully agree to our Non-Disclosure Agreement.

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Rules and Regulations regarding the Dealer & Vendor Site:

The Diamond Lighthouse Dealers and Vendors acknowledge that by accessing The Diamond Lighthouse Dealer Site ("The Site") in any manner, including, but not limited to, visiting or browsing the Site or contributing content or other materials to the Site, you agree to be legally bound by our Terms and Conditions. Read More

Diamond Lighthouse Intellectual Property regulations: The Site and its original content, features, and functionality are owned by Diamond Lighthouse and are protected by international copyright, trademark, patent, trade secret, and other intellectual property or proprietary rights laws. All copyright, trade marks, and all other intellectual property rights in the Site and its content (including without limitation the diamondlighthouse.com design, text, graphics, all software and source codes and any other material connected with diamondlighthouse.com) are owned by or licensed to Diamond Lighthouse or otherwise used by Diamond Lighthouse as permitted by law.

Access to the Site: We reserve the right to terminate, restrict or suspend your access to the Site, without cause or notice, which may result in the forfeiture and destruction of all information associated with you. All provisions of this Agreement that by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity, and limitations of liability.

Links to Other Sites: Our Site may contain links to third-party sites that are not owned or controlled by Diamond Lighthouse. Diamond Lighthouse has no control over, and assumes no responsibility for the content, privacy policies, or practices of any third party sites or services. We strongly advise you to read the terms and conditions and privacy policy of any third-party site that you visit.

Limitation of Liability: The Site and content is provided on an AS IS and AS AVAILABLE basis without any representation or endorsement made and without warranty of any kind. This,includes but is not limited to the implied warranties of satisfactory quality, fitness for a particular purpose, non-infringement, compatibility, security, and accuracy.

To the extent permitted by law, the Site and Diamond Lighthouse will not be responsible for any indirect or consequential loss or damage whatever (including without limitation loss of business, equipment, opportunity, data, or profits) arising out of or in connection with use of the Site.

Diamond Lighthouse and the Site make no warranty that the functionality of the Site will be uninterrupted or error free, that defects will be corrected or that the Site or the server that makes it available are free of viruses or anything else which may be harmful or destructive. We reserve the right to make changes or improvements to the Site at any time without notice.

Nothing in these Terms and Conditions shall be construed so as to exclude or limit the liability of diamondlighthouse.com or Diamond Lighthouse for death or personal injury as a result of the negligence of diamondlighthouse.com or Diamond Lighthouse or that of its employees or agents.

Indemnity: You agree to indemnify and hold the Site, Diamond Lighthouse, and its employees and agents harmless from and against all liabilities to any claims or actions brought against diamondlighthouse.com or Diamond Lighthouse arising out of any breach by you of these Terms and Conditions or other liabilities arising out of your use of this Site.

Severance: If any of these Terms and Conditions should be determined to be invalid, illegal or unenforceable for any reason by any court of competent jurisdiction then such Term or Condition shall be severed and the remaining Terms and Conditions shall survive and remain in full force and effect and continue to be binding and enforceable.

Governing Law: This Agreement (and any further rules, polices, or guidelines incorporated by reference) shall be governed and construed in accordance with the laws of New York, United States, without giving effect to any principles of conflicts of law.

Changes to this Agreement: We reserve the right, at our sole discretion, to modify or replace these Terms and Conditions by posting the updated terms on the Site. Your continued use of the Site after any such changes constitutes your acceptance of the new Terms and Conditions.

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The relationship between Diamond Lighthouse and the Dealers and Vendors

The Diamond Lighthouse Dealers and Vendors agree and undertake not to, for so long as they serve as a Diamond Lighthouse Dealer or Vendor and for a period of twelve (12) months thereafter, for any reason whatsoever, directly or indirectly, in any capacity whatsoever, to engage in, become financially interested in, be employed by, or have any connection with any business or venture that is engaged in any activities competing with our activities. Read More

The Diamond Lighthouse Dealers and Vendors acknowledge that customers (i.e., the Sellers) who subscribe or use our services will be deemed to be our customers, and not customers of the Diamond Lighthouse Dealers and Vendors. Any information regarding our customers that is provided to a Diamond Lighthouse Dealer or Vendor must be kept confidential, may only be used for the purposes set forth herein, and must be immediately deleted thereafter.

Inclusion in the Diamond Lighthouse Dealer and Vendor Network does not designate any employment relationship, agency relationship, or partnership between us and a Dealer or Vendor. You shall have no authority to bind us to any agreement, nor shall you be considered to be our agent in any respect.

You shall indemnify us and hold us harmless from any claim, damage, lawsuit, action, complaint, or other costs arising out of any breach of your undertakings under the Terms.

We shall not be liable for any loss of profits or costs, or for any direct, indirect, special, incidental or consequential damages, including costs associated with the procurement of substitute goods or services (whether we were or should have been aware or advised of the possibility of such damage), arising out of or associated with any loss, suspension or interruption of service, termination of the Diamond Lighthouse Dealer and Vendor Network, or other performance of services under the Terms.

The Terms, together with any instruments later executed between you and us constitute the entire agreement between the parties concerning the subject matter hereof, replacing any prior agreements. If there is any conflict between the Terms and specific instrument relating to an actual transaction between us, which was explicitly approved by us, the specific instrument will prevail; (b) Failure to enforce any provision will not constitute a waiver of that provision. If any provision is found unenforceable, it and any related provisions will be interpreted to best accomplish the unenforceable provision's essential purpose; (d) The Terms shall be governed by the laws of the State of New York, without giving effect to any principles of conflicts of laws thereof. The eligible courts of New York City shall have exclusive jurisdiction over all disputes arising from or in connection with this Agreement. Nothing in these Terms limits either party's ability to seek equitable relief.

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Thank you for registering to join our elite network of diamond buyers at Diamond Lighthouse! You will soon recieve an email that includes the second part of your registration process: the credit application. Once this is submitted and approved, you will be able to view our latest diamonds available and start making bids.

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