Diamond Banc Plans Major Expansion of Luxury Buyer Offices

Diamond Banc, the nationwide purchaser and lender specializing in luxurious jewellery and watches, will greater than double its bodily areas within the coming years, increasing from 17 workplaces to round 40 by the tip of 2030. The Columbia, Missouri-based firm, led by founder and CEO Mills Menser, is focusing on new shops in main metropolitan areas together with New York, San Francisco, Seattle, Denver, Pasadena, Calabasas, Newport Seashore, Columbus, Birmingham, and extra websites in South Florida. The plan is so as to add a mean of seven new workplaces yearly over the subsequent three years.

The corporate’s enlargement follows a interval of speedy progress. Diamond Banc grew from $4 million in income in 2018 to $60 million in 2025, and it expects to exceed $85 million in 2026. Projected annual income for 2027 is over $130 million, with a goal of $250 million by 2030. The corporate expects to transact with greater than 15,000 purchasers in 2026, representing over 75,000 particular person items of bijou and watches.

Menser, who bought his household’s jewellery enterprise Buchroeders at age 24 earlier than founding Diamond Banc in 2007, described the strategy to enlargement as pushed by profitability and efficiency benchmarks at present areas relatively than exterior funding. “We’ve all the time believed that sustainable progress comes from constructing a worthwhile enterprise first and increasing from a place of energy,” Menser mentioned. “Our purpose is to construct the main nationwide monetary providers firm for folks trying to unlock the worth of their jewellery, diamonds and luxurious watches.”

Picture: Diamond Banc

Diamond Banc’s providers embrace outright buying of diamonds, designer jewellery and luxurious watches, in addition to jewellery fairness loans and consignment-related vendor’s agent providers. The corporate stories that 85% to 90% of its income comes from its purchase/promote enterprise, however lending in opposition to luxurious property is rising. The corporate initiatives lending exercise in 2026 to succeed in about $25 million, with $10 million of that quantity secured by luxurious watches. Menser mentioned, “Lending provides them one other choice to entry the vast majority of their watch’s worth whereas nonetheless sustaining possession. Our watch debtors vary from purchasers borrowing $5,000 in opposition to a single watch to greater than $250,000 in opposition to a set.”

Diamond Banc’s workplaces are designed as luxurious showrooms with easy decor and personal assembly areas, supposed to copy the expertise of a high-end jewellery session. Menser mentioned the corporate is specializing in new know-how, together with synthetic intelligence and information instruments, to enhance the way it values jewellery and manages transactions. He described the enterprise as targeted on buying purchasers first, then offering monetary providers, and mentioned that transparency is essential to constructing belief.

Staffing is a key a part of the enlargement plan. Menser mentioned many current hires are GIA-trained, graduate gemologists, or have expertise at Rolex boutiques and unbiased jewellery shops. He mentioned persons are central to the enterprise as a result of they’re chargeable for putting giant quantities of capital in every market. Menser additionally mentioned that whereas there are numerous different jewellery patrons and lenders, Diamond Banc’s systematic strategy and the best way it serves purchasers set it other than rivals.

Diamond Banc’s progress comes as the marketplace for luxurious asset resale and lending continues to broaden throughout the U.S. The journal has additionally checked out how Gemaee built its pre-loved luxury resale business in Dubai.

Diamond Banc is focusing on roughly 40 U.S. workplaces by the tip of 2030.