Luxury Watch and Jewelry Buyer Diamond Banc to More Than Double Its Store Count

By Karen Dybis | October 12, 2026

Jewelry and watch buyer Diamond Banc plans to more than double its store footprint in key markets such as California, Colorado, and Florida as the market for luxury-asset resale shows exponential growth potential.

This national expansion plan includes an average of seven locations annually over the next three years. That would take the Columbia, Mo.–based business from its current 17 offices to about 40 by the end of 2030, founder and CEO Mills Menser says.

“We hope to be in every market in the next few years,” Menser says. “We pick our new markets based on our current markets, looking at population of a million plus as well as a pro-business environment.

“Take Tampa, for example. It’s an awesome environment for us, so we’ll start to look at similar cities, like Orlando. When we do well in one market, we’ll look for its mirror nearby,” he says.

Menser says this growth comes from clients looking to sell their Rolex watches, Tiffany & Co. jewelry, or other luxury assets. Diamond Banc—which also offers jewelry equity loans and consignment-related services—anticipates ending 2026 with more than 15,000 clients, representing 75,000 individual items.

*Mills Menser is a third-generation jeweler, a jewelry store owner, and the founder of Diamond Banc.*

Diamond Banc has grown from $4 million in top-line revenue in 2018 to $60 million in 2025, and is currently trending toward more than $85 million in 2026. The company projects more than $130 million in 2027, representing an average annual growth rate of approximately 47% since 2018.

“It’s a thin margin, but we work on volume,” Menser says. “We turn our inventory about 12 times a year—as much as Costco.”

Menser comes by his jewelry knowledge through family ties; he purchased his family’s jewelry business, Buchroeders, when he was 24. He founded Diamond Banc in 2007, seeing a space in the jewelry and watch market for a high-end jewelry resale and lending experience.

Diamond Banc’s locations look like jewelry showrooms to some degree. The spaces are elegantly furnished with simple decor and small meeting spaces with a desk or table and comfortable chairs. It looks like an area for a custom jewelry consultation or an engagement ring selection conversation.

In addition to its retail-store investment, Menser says Diamond Banc is investing in technology, bringing in new tools like AI to show clients how it evaluates a jewelry piece or watch’s price.

“We view our business as a client acquisition company first, then a financial services company,” Menser says. “By being transparent, we gain more than we lose.”

The final determination of where Diamond Banc grows is the people factor: Are there jewelry and watch experts in that market who can represent the brand and its clients well? That investment in its employees along with transparent pricing and client communication is how he plans to keep this momentum going in the years to come.

Menser says many of his recent hires have worked in retail at Rolex boutiques, are GIA-trained or graduate gemologists, or worked their way up at mom-and-pop jewelry stores. They know how to value jewelry, but they also know what kind of service people receive in traditional jewelry stores—and that’s the kind of experience they replicate at Diamond Banc locations.

“People are everything, but they’re incredibly important to our business because they’re placing millions of dollars in capital in that market,” Menser says. “There are lots of other jewelry buyers and lenders, but, for us, it’s how we do it and our systematic approach that separates us from our competition.… Growth is a byproduct of a job well done, serving our client. It’s not a vanity metric for us.”

Top: Diamond Banc has an ambitious plan to expand its store footprint over the next three years. (Photos courtesy of Diamond Banc)