Diamond Banc Plans Major Expansion of Luxury Buyer Offices

Diamond Banc, the national buyer and lender specializing in luxury jewelry and watches, will more than double its physical locations in the coming years, expanding from 17 offices to around 40 by the end of 2030. The Columbia, Missouri-based company, led by founder and CEO Mills Menser, is targeting new stores in major metropolitan areas including New York, San Francisco, Seattle, Denver, Pasadena, Calabasas, Newport Beach, Columbus, Birmingham, and additional sites in South Florida. The plan is to add an average of seven new offices annually over the next three years.

The company’s expansion follows a period of rapid growth. Diamond Banc grew from $4 million in revenue in 2018 to $60 million in 2025, and it expects to exceed $85 million in 2026. Projected annual revenue for 2027 is over $130 million, with a target of $250 million by 2030. The company expects to transact with more than 15,000 clients in 2026, representing over 75,000 individual pieces of jewelry and watches.

Menser, who purchased his family’s jewelry business Buchroeders at age 24 before founding Diamond Banc in 2007, described the approach to expansion as driven by profitability and performance benchmarks at existing locations rather than external funding. “We’ve always believed that sustainable growth comes from building a profitable business first and expanding from a position of strength,” Menser said. “Our goal is to build the leading national financial services company for people looking to unlock the value of their jewelry, diamonds and luxury watches.”

Image: Diamond Banc

Diamond Banc’s services include outright purchasing of diamonds, designer jewelry and luxury watches, as well as jewelry equity loans and consignment-related seller’s agent services. The company reports that 85% to 90% of its revenue comes from its buy/sell business, but lending against luxury assets is growing. The company projects lending activity in 2026 to reach about $25 million, with $10 million of that amount secured by luxury watches. Menser said, “Lending gives them another option to access the majority of their watch’s value while still maintaining ownership. Our watch borrowers range from clients borrowing $5,000 against a single watch to more than $250,000 against a collection.”

Diamond Banc’s offices are designed as luxury showrooms with simple decor and private meeting spaces, intended to replicate the experience of a high-end jewelry consultation. Menser said the company is focusing on new technology, including artificial intelligence and data tools, to improve how it values jewelry and manages transactions. He described the business as focused on acquiring clients first, then providing financial services, and said that transparency is key to building trust.

Staffing is a key part of the expansion plan. Menser said many recent hires are GIA-trained, graduate gemologists, or have experience at Rolex boutiques and independent jewelry stores. He said people are central to the business because they’re responsible for placing large amounts of capital in each market. Menser also said that while there are many other jewelry buyers and lenders, Diamond Banc’s systematic approach and the way it serves clients set it apart from competitors.

Diamond Banc’s growth comes as the market for luxury asset resale and lending continues to expand across the U.S. The magazine has also looked at how Gemaee built its pre-loved luxury resale business in Dubai.

Diamond Banc is targeting approximately 40 U.S. offices by the end of 2030.