I Do Now I Don't (also abbreviated IDNID) is an e-commerce

website A website (also written as a web site) is any web page whose content is identified by a common domain name and is published on at least one web server. Websites are typically dedicated to a particular topic or purpose, such as news, educatio ...

that markets previously owned

jewelry Jewellery (or jewelry in American English) consists of decorative items worn for personal adornment such as brooches, ring (jewellery), rings, necklaces, earrings, pendants, bracelets, and cufflinks. Jewellery may be attached to the body or the ...

, primarily

diamond Diamond is a Allotropes of carbon, solid form of the element carbon with its atoms arranged in a crystal structure called diamond cubic. Diamond is tasteless, odourless, strong, brittle solid, colourless in pure form, a poor conductor of e ...

engagement ring An engagement ring, also known as a betrothal ring, is a ring indicating that the person wearing it is engaged to be married, especially in Western cultures. A ring is presented as an engagement gift by a partner to their prospective spouse ...

s, as well as other items such as bridesmaid dresses through fixed-price and

auction An auction is usually a process of Trade, buying and selling Good (economics), goods or Service (economics), services by offering them up for Bidding, bids, taking bids, and then selling the item to the highest bidder or buying the item from th ...

sales.

History

I Do Now I Don't was founded by Joshua Opperman and his sister Mara in 2007, as a peer-to-peer platform for selling expensive engagement and wedding rings that are no longer wanted. Opperman says he had the idea after returning home one day to find that his fiancée of three months and all of her belongings, aside from the ring, were gone; when he tried to return the ring to the retailer, he received a buyback estimate that was about a third of the purchase price. Jewelry on IDNID is typically priced higher than retailer buyback offers but up to 50% below appraisal value. One of the earliest entrants in the online secondhand jewelry market, IDNID became successful quickly, in part due to increased sales during the

Great Recession The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009.

. In 2015, the company merged with DELGATTO. About 1.7 million used engagement and wedding rings with a combined retail value of $4.2 billion are offered for sale annually. IDNID follows a new economic model called the

sharing economy The sharing economy is a socio-economic system whereby consumers share in the creation, production, distribution, trade and consumption of goods, and services. These systems take a variety of forms, often leveraging information technology and the ...

, a decentralized model whereby buyers and sellers interact directly with each other, without intermediation by a third party except to facilitate the transaction. IDNID provides a platform for buyers and sellers to connect, along with tools and resources such as escrow funds and third-party authentication services. The site has received positive mention from e-commerce analysts for its approach to repurposing a pricey commodity that is often considered “taboo”. I Do Now I Don't has been featured on such programs as ''

The Rachael Ray Show ''Rachael Ray'' (also known as ''The Rachael Ray Show'' and ''Rachael'') is an American television talk show hosted by Rachael Ray that aired in Broadcast syndication, syndication from September 18, 2006 to July 28, 2023. It was taped at Chelsea ...

'',

CNN Cable News Network (CNN) is a multinational news organization operating, most notably, a website and a TV channel headquartered in Atlanta. Founded in 1980 by American media proprietor Ted Turner and Reese Schonfeld as a 24-hour cable ne ...

, '' The Glenn Beck Show'', ''

Wake Up with Whoopi ''Wake Up with Whoopi'' was a morning radio show that aired on various stations in the United States from July 31, 2006 until March 28, 2008. Whoopi Goldberg was the host of the program. The show was syndicated by Premiere Radio Networks out of N ...

'' and ''

The Today Show ''Today'' (also called ''The Today Show'') is an American morning television show that airs weekdays from 7:00 a.m. to 11:00 a.m. on NBC. The program debuted on January 14, 1952. It was the first of its genre on American television ...

''.

References

{{reflist

External links

Official Website
Online auction websites of the United States Online jewelry retailers of the United States