There are ways in which you can trade your diamond in such a way that you do not suffer a huge loss. Below are a few options to consider while you look to swap your diamond jewelry.       Exchange your Diamond for a Different One You can visit one of the local diamond jewelry stores and look for a stone that has all the characters you want. You can inquire if it is possible to exchange it with the one you have. There might be choices when you do not have to pay for anything. Upgrade your Diamond to One with a Higher Quality You can get diamond jewelry of superior quality this way, but you will definitely have to pay for this. When on it, make sure that you get a diamond that is worth the money you spend. Exchange for a Similar Quality Diamond You can also exchange a diamond for a similar quality diamond. This is usually a  profitable option only when you buy diamonds with a slightly higher grade. The difference might not be noticeable to the naked eyes but the quality would be better.