Below are the common diamond scams you have to be on the lookout for. Of course you always want to buy from a reputable diamond dealer, but it can be hard to tell who you can trust at first. Sometimes the easiest way to ensure you are dealing with a good and trustworthy dealer is to know what it is like dealing with a less than trustworthy one. Reputable diamond dealers are the norm, but all it takes is one bad apple to ruin someone’s experience. Your diamonds are an investment and you need to make sure that you are working with someone who is trusted in the industry as an expert. Look for these things as you shop around as they can be a warning sign that you are not working with someone who should be trusted as a diamond expert.
Only Listing the CTW
Reputable diamond dealers will list every diamond in the piece separately. This is very important to know so you can compare rings and settings. Larger diamonds are worth more so you need to know how big the main diamonds are and what they are worth in order to properly choose the best diamonds. Trusted dealers will do everything they can to ensure you get the best diamond and that you make the best investment. If you ever feel like you are not the primary focus or concern of the dealer, consider it a sign that you need to look for someone else.
Advertised Diamond is not Available
This is an old trick that no reputable dealer would use, but it is very common among scam artists. Although outlawed by the FTC, it happens all of the time. With this scam, you bring in an advertised price for the diamond and jewelry piece you want. The jeweler tells you that the advertised stone is no longer available so you will have to pay more for a similar stone. A reputable diamond dealer will not even attempt to pull this scam over on customers, in fact a reputable dealer will always ensure that all advertised deals can be met or will do their best to make to make it right with discounts or similar deals. They will want to make sure that their customers are taken care of and treated right each and every time!
Appraisals Done by the Jeweler
This is a classic example of a conflict of interests and many scam artists try this trick on unsuspecting customers. They will offer you an appraisal, but when you look at it, the certificate is not from a recognized authority. Instead, it is from the jeweler themselves or someone they hired. These are usually not valid certificates and can be faked very easily, thus making worthless diamonds seem much more valuable and more expensive. No reputable diamond dealer will do in house appraisals or skirt questions regarding quality, documentations, and appraisals. They understand the importance of these things and will go out of their way to make sure customers get the information that they need to make sure they are getting the right diamonds and pieces.
Looking for these common warning signs can help you protect yourself as you shop around for diamonds. Most diamond dealers and jewelers you will encounter are very reputable but there are a few untrustworthy ones out there so you must always be on guard and watchful. Taking the time to ensure you are working with a reputable dealer will make it much easier to find the perfect diamond and have a wonderful experience doing so!