Here is a review of their available "buyback" and exchange options: 1. The Diamond Trade-In Program (Most Common)

Unlike the trade-in program, this pays out via a check . 3. Return & Exchange Window

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.

The new diamond jewelry you purchase must cost at least double the trade-in value of your original piece. For example, if you trade in a $1,000 ring, you must buy a new one costing at least $2,000.

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.