How to Avoid Scams and Get a Good Diamond for Your Money

Diamonds are not bought so easily like buying from a supermarket. Diamonds are purchased with a significance used as gifts or mementos to celebrate special occasions and people in your life.

However, not all people are knowledgeable with all things diamond and can easily be a victim of a scam. What can you do to avoid scams and get a good diamond for your money?

First time buyers of diamonds actually do not have much knowledge about diamonds when they are shopping so it is up to the seller or jeweler to give them information or advice on the diamonds that they are looking at.

This lack of information unfortunately leaves scammers, or unethical jewelers with many opportunities to scam unsuspecting people out of their money and leave them with lesser quality diamonds or fakes.

If you are planning on purchasing a diamond whether on a ring, in a piece of jewelry, or by itself, here is some valuable information to equip yourself with.

6 Steps to Avoid Scams and Get a Good Diamond Worth Your Money

1. Research the company and diamond dealer before buying.

2. Get a certificate of authenticity for your diamond.

3. Don’t buy diamonds from street vendors or jewelers who are not authorized to sell them.

4. Make sure you get a receipt for the purchase, because it’s evidence that you paid for it if there is any dispute later on.

5. Consider getting an appraisal after purchasing your diamond so that you know what it’s worth in case you want to resell it at some point in the future.

6. Always ask questions when buying diamonds – don’t be shy about asking as many questions as possible and make sure they answer all of them fully.

Here are some common red flags to watch out for when buying diamonds.

Tips and Tricks on How to Spot a Scammer and Avoid Scams

1. Fake Diamond Scams

If the diamond you are looking for does not come with a certificate of authenticity by a well known 3rd party gemological institute like the American Gem Society ( AGS ) or the Gemological Institute of America ( GIA ), chances are the seller is trying to sell you a fake diamond. They are profiting from your lack of knowledge on what makes a true diamond authentic and are trying to pass off imitation or synthetic diamonds to you.

The reason that sellers do not want their diamonds graded for authenticity is because these diamonds have low qualities in every aspect and these diamonds are unsellable.

Do not take anyone’s word for it and buy something without certification even if it is at a great price because in the end, you are the one who is left with a worthless diamond.

2. Check the Certificate’s Authenticity, Not Just the Diamond’s

Many sellers will try to tell you that you are buying the diamond so you don’t need the certificate. This is wrong as this is a long time scam that many scammers try to dupe people into buying diamonds with fake certificates.

Scammers will try to use flowery words and jargon into making diamonds appear special and valuable when in reality, it is not. They will try to hand you fake certificates from unknown labs or institutes reporting about the ratings of the diamond.

The value of a diamond are based on its 4C’s and many times people do not know what to look for in terms of cut, clarity, carat, or color of the diamond and at these times, any imperfections or flaws are invisible to the naked eye so it is easy for these diamonds to be passed of as higher quality than they are.

In the end, do not take someone’s word as the truth and demand to see a real authentic certificate that reports on the diamond’s cut, clarity, color, and carat and never buy a diamond from a seller that can not produce this document.

3. Pricing Scams

If a diamond’s price is too good to be true, in most cases, it is probably a scam. If a seller is trying to sell a diamond that was worth $10,000 before and is now selling it for $1,000, don’t fall for it as something suspicious is going on behind doors.

These pricing scams can be explained further as sellers will try give a high mark up on the prices of these diamonds for example, 200%-300% more than what it actually costs, and will advertise sales or discounts for 40%-70% off of prices, so you are left with the idea that you are getting a really good deal on a diamond.

But in reality, this is a marketing scam and you are actually paying more than what the diamond originally costs.

4. Switching Diamond Scams

Imagine that you have ordered and bought a diamond ring with the cut and shape of diamond you wanted and the perfect setting to have it set on.

After paying for the ring, you will be informed that the ring that you wanted is no longer available and instead they will offer you a better, similar looking, and more “expensive” diamond ring.

If in the future this will happen to you, don’t fall for it. The best thing to do is to ask for a refund and take your money elsewhere. Credible jewelry stores or jewelers will not offer you this kind of switch as chances are the diamond that is worth your money will be switched for a lesser quality of a diamond and it will usually take a long time for you to notice, if you even will.

What Should You Look for at Retailers and Wholesalers To Avoid Scams and Get a Good Diamond?

1. Look for GIA or AGS Certification

By checking the official GIA or AGS certification of the diamond you will know exactly the worth of the diamonds and it’s value when you pay for it.

Diamonds that are certified by well-known institutions have a greater chance of being resold in the future as the certification proves its genuineness.

2. Credibility

Checking for credentials is important because it is important to know that you are dealing with a trustworthy and reputable business. If not, you can lose time and valuable money and will end up with fake and synthetic diamonds, worth far less than what you paid for.

Credible sellers will be genuine with their diamonds and transactions with you.

You can also do your research and look up what past customers have been saying and read up on their experiences when they dealt with the business to avoid headaches and stress in the future.

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