1. Eligibility and Scope
Applicable Products
This Program is applicable to all jewellery products (excluding non-jewellery items) purchased from DearYu, subject to the following conditions:
- The request for Exchange or Buyback is raised after the expiry of the standard 30-day return window from the date of delivery.
- The original purchase was completed through the official DearYu Platform (website, mobile application) or an authorised physical store.
- The product must successfully pass a rigorous Quality Check (QC) by DearYu’s certified personnel to affirm its integrity, authenticity and original composition.
Non-Compliance
Products failing the stipulated QC criteria (including evidence of unauthorised modification, repair or substitution) may be subject to outright rejection or additional valuation deductions. Products purchased outside official DearYu channels may incur additional processing deductions.
2. Valuation Methodology
The final Exchange or Buyback value is determined based on the prevailing live market commodity rates recorded on the date the formal request is initiated by the customer.
Lifetime Exchange Value
The approved valuation amount shall be credited to the customer’s account in the form of Store Credits. These credits are non-transferable and are designated solely for the subsequent purchase of goods on the DearYu Platform.
Lifetime Buyback Value
The approved amount shall be credited to the customer as Store Cash. This amount is convertible either into:
- Credits for future purchases on the Platform or
- Encashment, processed as a bank transfer to the customer’s verified bank account, in accordance with Section 5.
3. Valuation Chart (Standard Rates)
The following matrix outlines the standard valuation percentages applied to the current market value of materials:
| Category | Lifetime Exchange | Lifetime Buyback |
|---|---|---|
| Diamond & Gemstone Jewellery | 100% gold/platinum value + 100% diamond/gemstone value (at current rates) | 100% gold/platinum value + 90% diamond/gemstone value |
| Plain Gold / Platinum Jewellery | 100% of gold/platinum value | 100% of gold/platinum value |
| Coins (Gold/Silver) | 100% of metal value at market rate | 100% of metal value at market rate |
| Solitaire Jewellery / Loose Solitaires (Up to ₹5 lakh) | 100% of gold/platinum value + 100% stone value | 90% of solitaire value |
| Solitaire Jewellery (Above ₹5 lakh) | Value determined based on live market listing & buyer availability | Value depends on actual buyer purchase |
4. Mandatory Deductions and Documentation
Standard Deductions
The following amounts shall be compulsorily deducted from the determined gross valuation:
- The equivalent monetary value of any discount, offer, promotional voucher or complimentary gift availed by the customer during the original purchase transaction.
- A penalty of a minimum of ₹3,500 (Rupees Three Thousand Five Hundred only) per missing original Solitaire Certification. This deduction may be adjusted upward for high-value or exceptionally large solitaires.
Additional Deductions
The final valuation is subject to adjustment based on the outcome of the QC process, including:
- A deduction of 5% may be applied to products identified as being purchased from non-official offline resellers.
- Deductions commensurate with the cost of restoration will be applied for products exhibiting structural damage, excessive wear and tear or missing non-essential components.
5. Processing and Encashment Terms
Processing Charges
A non-refundable processing fee of ₹500 (Rupees Five Hundred only) shall be levied for all online Lifetime Exchange or Buyback requests. This processing charge is expressly waived when the product is physically submitted and verified at an authorised DearYu store.
Encashment
Encashment of the approved Buyback Value (Store Cash) will be processed via electronic bank transfer (NEFT/RTGS) within 7-15 business days following the customer’s acceptance of the valuation and provision of all necessary KYC and bank account details.
6. Formal Request and Processing Protocol (Online)
Request Initiation: The customer must formally raise an Exchange or Buyback request via the Order History or My Account section on the Platform.
Secure Transit: The customer shall ship the jewellery item using the secured, tamper-proof return kit provided by DearYu. The risk of transit remains with DearYu until successful receipt at our facility.
Quality Assessment: The returned product will undergo a mandatory Quality Check (QC) at our processing facility.
Valuation Share: Following QC approval, the determined valuation report shall be transmitted to the customer for review and acceptance.
Acceptance Protocol: The customer must formally approve or reject the shared valuation within 15 calendar days.
- Approval: The approved amount is immediately credited to the customer account as Store Credits/Store Cash.
- Silence: In the absence of a response, the valuation amount shall be auto-credited after the 15-day period expires.
- Rejection: If the valuation is formally rejected, the product shall be securely shipped back to the customer.
7. Important Governing Provisions
- Valuation Date: All valuations are strictly tied to the prevailing market rates on the date the customer initiates the request, irrespective of subsequent market fluctuations.
- Company Discretion: DearYu reserves the unilateral right to adjust the final valuation based on the conclusive outcome of the Quality Check and in adherence to this Policy.
- Rejection Clause: Products that demonstrably fail the QC (e.g., deemed damaged, altered or non-authentic) shall be rejected from the Program and promptly returned to the customer at their expense.
8. Commitment to Assurance
We are dedicated to ensuring absolute transparency and fairness in the execution of this Program. Our Lifetime Exchange & Buyback Policy is a testament to our commitment to customer value and long-term assurance.
