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Do not Fall for Diamond Scams

Just how much a diamond is worth? The answer is a lot. In fact, a very small stone can already cost you hundreds. It’s one of the main reasons why jewellery investors would consider putting their money on them first than in any other stones or metals. Moreover, this will also tell you why there are plenty of jewelers who will be tempted to rip you off.

Of course, you don’t want to fall prey of their scams. But for you to not to, you may want to know the common scams that you can encounter:

1. Fake Diamonds. In general, diamonds are quite easy to produce. They can even be made in laboratories. All you need is carbon and other synthetic materials. The bad thing about fake diamonds is that they do have their own resemblance with the real ones, especially when it comes to cut and color. But they don’t have the brilliance and clarity that can help you easily distinguish which are fakes amongst the bunch.

You do have the option to buy them or not. The problem sets in, though, if they are priced the same way diamonds are. To make sure that you don’t get conned, you may want to ask diamond certifications from the jeweler. These documents will tell you the characteristics of the diamond and how much they should be really worth.

2.  Lowballing. Normally, when you have diamonds with you and you want to sell them, your first option is to go to the nearest jewellery shop. Sad to say, you may hear him tell you that you’re being lied to of its real value. It is way lesser than what you’ve thought and that you have better chances of earning more out of diamond stones if you will get one from him or from someone he knows.

This process is called lowballing, something to trick you to buying from his store or from someone whom he can earn commission. It is therefore wise to have your diamonds assessed or appraised by an independent person. You can also send the diamonds to GIA and let them evaluate what you have. Just be reminded that it will take a while before you will know the results.

3. Stone Switching. This is another common scam practiced by some jewelers. Simply put, the diamond that you’re taking home is not the same one that you bought. The key here is to be smart. Make sure that the diamond is weighed and all its characteristics are being enumerated and written in the receipt before you take it home or set in a crown. Moreover, before the jeweler considers the purchase as a done transaction, check the diamond again.

Now, there will be times when these tips will be forgotten and you become a victim. The best recourse is to report them to the proper agencies such as the Better Business Bureau. This way, they can investigate on the matter and help you find the best possible recourse.