I Do Now I Don't
I Do Now I Don't (or IDNID) is an American e-commerce website that specializes in pre-owned jewelry. I Do Now I Don't's online listings not only include diamond engagement rings,[1] but also bridesmaid dresses[2] and various other wedding and luxury items. IDNID has auction and fixed-price sales.
History
In 2007, Joshua Opperman founded I Do Now I Don't (IDNID) together with his sister Mara.[3] IDNID was originally a peer-to-peer platform that sold pre-owned engagement and wedding rings that were still of significant market value. Joshua Opperman said that he thought of foundign IDNID when he had discovered that his fiancée and all of her belongings, except for her ring, were gone. He tried to return the engagement ring to the original retailer. However, Joshua only received a buyback estimate that was about 1/3 of the purchase price.[4][5] On the other hand, jewelry on IDNID is usually priced higher than retailer buyback offers, allowing sellers to get a much better deal.[6][7][8][9][10]
I Do Now I Don't (IDNID) is one of the first online websites to offer pre-owned jewellery. Its rapid success can be partially attributed to the great demand for buying and selling pre-owned jewellery during and after the 2008 recession.[11][12][13]
In 2015, DELGATTO merged with IDNID.[14]
IDNID lists approximately 1.7 million pre-owned rings annually, which have a combined retail value of about $4.2 billion.[15][16]
IDNID is a unique part of the sharing economy. In other words, IDNID offers a peer-to-peer model for its users to engage with each other.[17] As a result, IDNID is lets buyers and sellers to directly connect without having to go through a middleman. It also offers resources and tools such as third-party authentication services and escrow funds.[18][19]
IDNID has received positive acclaim from e-commerce analysts for its innovative approach to repurposing jewellery, a business model which has been historically considered to be "taboo."[20][21]
Media coverage
I Do Now I Don't has been featured on many well-known TV shows and channels, including:
References
- ↑ "Act surprised: Your wedding ring is a terrible investment" (in en-US). 2014-06-04. https://www.getrichslowly.org/act-surprised-your-wedding-ring-is-a-terrible-investment/.
- ↑ "Cash in on Clothes in Your Closet," TODAY Show NBC News, August 17, 2011
- ↑ https://www.linkedin.com/company/i-do-now-i-don%27t
- ↑ Brussel, Joe Van (2013-09-23). "Entrepreneur Turns Heartbreak Into Profit With Diamond Ring Auction Site" (in en). https://www.huffingtonpost.com/2013/09/23/i-do-now-i-dont_n_3976374.html.
- ↑ "3 Great Reasons to Choose a Secondhand Engagement Ring (and Where to Find One)" (in en-US). https://www.wisebread.com/3-great-reasons-to-choose-a-secondhand-engagement-ring-and-where-to-find-one.
- ↑ "I Do Now I Don't website gives used wedding rings a second chance" (in en). 2016-02-18. https://www.consumeraffairs.com/news/i-do-now-i-dont-website-gives-used-wedding-rings-a-second-chance-021816.html.
- ↑ Reuteman, Rob (2016-03-23). "Failed Wedding Engagement Inspires New Business: IDoNowIDont.com" (in en-US). https://www.foxbusiness.com/features/failed-wedding-engagement-inspires-new-business-idonowidont-com.
- ↑ Lutz, Ashley. "After His Fiancé Walked Out, This Guy Built A Business Selling Diamond Rings". https://www.businessinsider.com/selling-diamond-rings-online-2012-5.
- ↑ "5 Reasons To Buy A Secondhand Engagement Ring" (in en). 2012-03-07. https://www.huffpost.com/entry/secondhand-engagement-rin_b_1307555.
- ↑ "I Do Now I Don’t, a Website Sprouted From Heartbreak Expands" (in en). 2015-01-19. https://observer.com/2015/01/i-do-now-i-dont-a-website-sprouted-from-heartbreak-expands/.
- ↑ "Secondhand Engagement Rings Sales Rise When Times Are Tough", Jo Piaza, The New York Daily News, Dec 3, 2008
- ↑ "Hard times? More selling Grandma's ring for cash", Reuters, Dec 18, 2008
- ↑ "In Hard Times, Business of Love Goes Strong", CNBC-TV, Feb 6, 2009
- ↑ http://del-gatto.com/i-do-now-i-dont-2/
- ↑ "Engagement Rings", Time Out New York, Oct 21, 2008
- ↑ Tis, Jennifer (2009-02-10). "AND THE BAND PLAYS ON" (in en). https://nypost.com/2009/02/10/and-the-band-plays-on/.
- ↑ "Times buy used instead new". https://www.gobankingrates.com/saving-money/savings-advice/times-buy-used-instead-new/.
- ↑ "Are you a robot?". https://www.bloomberg.com/tosv2.html?vid=&uuid=ad41ac20-904b-11e9-afb9-f11c57476c8a&url=L25ld3MvYXJ0aWNsZXMvMjAxNS0wMi0wNS9zbWFsbC10by1iaWctaS1kby1ub3ctaS1kb24tdA==.
- ↑ Kumar, Kavita. "If that marriage or engagement went bust, St. Louis business can help sell ring" (in en). https://www.stltoday.com/business/local/if-that-marriage-or-engagement-went-bust-st-louis-business/article_480b0029-4039-5240-a0d4-5a9e4f611cd9.html.
- ↑ Schnuer, Jenna (2013-12-24). "Meet the Innovative Entrepreneurs Who Won Our Top Awards for 2013" (in en). https://www.entrepreneur.com/article/230243.
- ↑ Mulvey, Jeanette; VP; April 10, B2B Content; EST, 2012 03:26 am. "5 Hot Business Ideas We Love Right Now". https://www.businessnewsdaily.com/2331-hot-business-ideas.html.
- ↑ "Heartbreak Diamonds Find New Homes Online", CNN, Feb 14, 2007
