Buying Diamonds

Buying a diamond, no matter for what occasion is likely a large purchase that means a lot to the person in pursuit. Therefore, it is important to carefully weight your options before buying a diamond and do your research ahead of time, so as to avoid being scammed.

Jewelers generally know what people are looking for in a diamond and will throw out the 4 C’s definitions at random to make the sale sound legit as well as interesting. However, when it comes to clarity, cut, etc. it pays to be able to spot differences and common sales scams.

The first scam often used is simply switching the diamond at the end of the sale. Because you must have diamonds set in rings, bracelets, or other pieces of jewelry which may take a few weeks, there is ample time for the jeweler to switch the perfectly good one carat diamond that was purchased for a slightly lower quality stone. In this case, it is a good idea to get the certificate up front as well as the measurements and stats of the diamond in writing from the dealer. Getting it appraised right away will also avoid hassle later if the stone was switched.

Next, some dealers will call a diamond “Blue-White” and claim that it is a highly coveted diamond of great quality. In reality, the diamond will not be as clear in some lights and will appear a bit milky.

Another scam that jewelers will use is to only post the total weight of diamonds in the piece of jewelry. For example, if a ring has a large stone in the middle and several smaller diamonds around it, the total weight could be 2 carats. However, the large stone in the middle is worth the most and needs to be appraised separately. Smaller diamonds that add up to a large carat amount are still worth less than a larger, complete diamond. In this case, the jeweler will try to sell the piece for more than it is worth due to the carat total, when in fact it is not worth that much.

Deposit scams are also common when buying a diamond. Since the jeweler knows that you may want to appraise the diamond yourself before buying, they will offer to loan the diamond to you for a deposit while you have it independently appraised. However, in many cases these deposits are non-refundable or will only go towards store credit in the end.

Diamond helpers has more in their article on jewelry scams.