Diamond Jewelry Scams

When it comes to buying diamonds, here are a few scams to be on the look out for. Most scams seem minor, but  if you are on the receiving end of a scam you will definitely wish you had been pre-warned. There are some major ones that come up from time to time concerning the buying and selling of diamonds. 

Scams occur simply because most people who buy diamonds – for whatever reasons – don’t know that much about diamonds. Most people don't think they can easily be fooled.

Unfortunately some people make it their business to be convincing. 

And on the part of the victim it's usually greed that shuts down common sense.

Everyone wants a good deal, but it's good to remember that we often get what we pay for. Is something too good to be true? If you start getting all jittery and over excited because you start thinking this is an extremely rare opportunity and are being told you have to make a decision on the spot this is usually a tactic to get you to grab a bargain which will not ever be available again.

Ever. Just step back and think.

 There may be more to the deal than meets the eye.

Keep in mind is that all of these scams can be avoided by buying diamond jewelry and gems from reputable stores, and there are plenty of great ones that sell  online. 

Small time dealers and places that sell to overnight visitors at holiday resorts are likely places to look out for these scams.

The Total Carat Weight scam.

However one shady practice which we think is a scam , and one that way too many jewelry stores participate in is the Carat Total Weight scam.

This is not technically a scam, but what most people don't realize is that very very small diamonds are not really that valuable. These small diamond bits are called "melee" in the diamond business.

This is from a French word "Melee" which means mish-mash, or jumble, and basically this tells you that it is made up of the leftovers and off-cuts of diamonds.

 The tag on the piece of jewelry, usually a ring, only states the total carat weight of all

diamonds in the piece, instead of listing the total weights separately for each diamond.

This leads consumers to believe that the main diamond in the piece is actually bigger than it is. Ask what the total carat weight of the center stone is.

Also beware of fractions.

Jewelry stores sometimes round off (though they usually round up!) diamond weights.

This means that if the jeweler tells you that it is a ¾ carat diamond, it  could be below ¾.

Fluorescence Scam

Jewelry stores in the past ran ‘fluorescence’ scams to varying degrees.

The FTC has shut down this for the most part, but this is what was usually done: The shops would refer to a fluorescent diamond as a blue-white diamond.

A blue-white diamond sounds very unique and special, but in fact, this type of diamond has a slight chance of being lesser quality – even though the jeweler will try to make you think you are getting something special.

Fluorescence is not always a negative thing, as it can actually make the stone look good on occasion. 

However there is a one in 50,000 chance that the diamond will look milky. If they are trying to push this diamond on you, it could be one of those inferior ones.

Jewelry stores like to show their diamonds in bright lights. Lights make diamonds shine. Ask to see the diamond in a different, darker type of lighting as well.

Diamonds which have received a grade of "Medium" or "Strong" Fluorescence are always a little cheaper that diamonds without fluorescence.

This makes it possible to pick up a bargain by looking for a diamond with fluorescence.

What have to do is make sure that you buy from a reputable diamond dealer and have the option of returning your jewelry if it doesn't live up to your expectations.

 It wouldn't be a good idea to have the ring engraved if you want to keep your return options open.

Custom work usually has the stipulation that you will not be able to return it if you change your mind.

Low Balling

Some truly unscrupulous jewelers target those who want appraisals on diamonds  that were given to them as gifts or that were purchased elsewhere.

They will try to tell you that the diamond is worthless, or worth less than it actually is worth – and offer to take it off your hands or trade it for a much better diamond, along with the cash to make up

the difference.

This is called low balling.

Get a second, third, and even a forth opinion before taking any action.

Diamond Switch

Another common dirty trick is to switch the diamond you have chosen and paid for with one of lesser quality and value when you leave it to be set in a piece of jewelry, or leave a diamond ring to be sized.

The only way to avoid this is to do business with one trustworthy jeweler.

 Avoid jewelers that have too many "unknowns".

Independent reviews online can help give you an idea of how long an online dealer has been in business.

Unscrupulous dealers will possibly come up with other original scams.

Please let me know if you have any new scams to report.

Your best protection is knowledge and to follow your instincts.

If the deal is far-out and unbelievably good, it likely is too good to be true.

The Carat/Karat scam

I walked into a diamond store in Australia which had a sign saying "9 Ct Diamond Ring $699".

To a complete novice who doesn't know a diamond from their elbow they'd probably think that they'd just found the best deal ever. 

The reason that this, in my opinion, is a scam is because it infers that the diamond is 9 carats. It's is actually the level of purity of the gold ring that is 9 carats. 

In Australia, New Zealand and the UK the same spelling is used for diamond weight and for gold's purity: Carat with a "C". 

Ok, let me do a quick search for a 9 carat diamond.

... searching

...searching

Ok, I found two: 

One is $200,000

the other one is $400,000. 

I don't think a 9 carat diamond ring is going to be found for $699.

In the USA Carat with a "c" refers to diamond weight and Karat with a "K" refers to the purity of gold. This is also the way it's done in Canada. 

I noticed, though that in France, Karat with a "K" may also be used when referring to diamond weight.