Diamond scams are more prevalent than one might realize. But being aware of these scams can help safeguard your loose diamonds. You might be surprised to know that even prominent jewelers have been implicated in diamond scams. Especially, individuals who are purchasing diamonds for the first time have limited knowledge about the diamond quality standards. As a result, they rely on the seller or jeweler to provide them with guidance.
However, this lack of information, unfortunately, presents many opportunities for scammers or unethical jewelers to defraud people. If you’re planning on purchasing a diamond – whether as part of a ring, bulk in wholesale, or as a standalone item – it’s crucial to arm yourself with valuable information. This article outlines five ways to protect yourself from such diamond scams.
5 Ways To Get Quality Diamonds That Are Worth Your Money
1. Deal with altered certificate
A well-informed buyer recognizes the significance of a diamond certificate and insists on obtaining one before making a purchase. However, some unscrupulous jewelers nowadays fabricate diamond certificates.
To safeguard against this type of fraud, it is advisable to request a grading report from a reputable lab. Since independent third-party organizations evaluate the quality of diamonds, their reports are typically genuine.
Furthermore, when selecting a lab, it is recommended to examine their standardized template online. While reviewing their report template, be sure to verify the security features incorporated in it. Afterward, compare it with the certificate provided by your jeweler. If you discover that the certificate has been tampered with or is missing certain security features, it’s best to refrain from making the purchase.
Additionally, you may inform the grading lab about the jeweler in question and how they are tarnishing the lab’s reputation in the market. Gemological labs will take note of your report and take legal action against the jeweler.
Moreover, some jewelers offer certificates from generic labs that may have partnerships with them. Therefore, it’s crucial to have a diamond certificate from a reputable lab to ensure the authenticity of your piece. In case you want to know more information about buying loose diamonds, you may read everything you need to know about loose diamond
2. Know the Carat Weight and avoid the scam
One of the most widespread diamond scams is the Carat Total Weight (CTW) scam, which can significantly impact an unsuspecting customer’s wallet. This happens mostly in the case of single diamonds.
According to eBay, the label on a piece of jewelry, typically a ring, only displays the total weight of all diamonds in the piece, rather than indicating the separate weights for each diamond.
Without knowledge of the weight and quality of the central diamond, it is impossible to accurately compare prices. This can result in overpaying since a single large diamond is worth considerably more than a collection of smaller ones.
To avoid this diamond scam, request the exact weight and quality of the central stone and get that in writing.
3. Avoid half-off sales
The diamond scam preys on the financial constraints of uninformed customers. Phrases like “half-off” can sound like a great deal, but it’s a commonly used tactic by jewelers.
These jewelers may inflate the diamond’s price by 400%, and then advertise a 50% discount. In the case of heavily discounted diamonds, you are likely paying more than the actual value. So beware of such offers and do not fall for the trap.
4. Clarity enhancement
Natural diamonds are typically flawed, with the most flawless ones being exceedingly rare and expensive.
To improve a diamond’s clarity, a technique known as fracture filling is used by some dealers. This makes the diamond appear more flawless, enabling sellers to increase its price.
Despite the improvement in appearance, fracture-filled diamonds remain flawed and fragile. This process diminishes their value and makes them more susceptible to damage.
Furthermore, identifying fracture-filled diamonds can be challenging. Some laboratories may not even mention this treatment in their certification. If they do, it will be explicitly stated that the diamond has undergone enhancement.
To avoid this scam, you can ask your jeweler to provide a written statement indicating whether the diamond has undergone any color or clarity enhancement processes. Additionally, obtain a report from a reputable grading laboratory.
5. Say no to “Fake Diamond” scams
If you’re in the market for a diamond, it’s important to make sure it comes with a certificate of authenticity from a reputable third-party gemological institute such as the American Gem Society (AGS) or the Gemological Institute of America (GIA). If the seller cannot provide such a certificate, it is likely that they are attempting to sell you a fake diamond, taking advantage of your lack of knowledge regarding the criteria for authentic diamonds, and may be attempting to pass off synthetic or imitation diamonds as genuine.
Sellers who refuse to have their diamonds graded for authenticity often do so because the diamonds are of low quality and would be difficult to sell otherwise. Even if a seller offers you an attractive price, it’s important not to take their word for it and to insist on certification. In the end, you could be left with a diamond of little or no value.
If you are looking for a trustworthy and reliable diamond seller, call Uniglo Diamonds today! Uniglo offers you the necessary diamond knowledge, advice, and selection of products based on your investment objectives.