How to Avoid Diamond Scams
Avoiding Scams and Real Diamond Valuation
The truth about scams and diamond valuation – Throughout 2013, diamond scams have been making the news. There are many diamond scams around and they originate from all around the world. One “popular” scam involves the sending out of e mails offering diamonds for sale, only for the buyer to find out later that diamonds they’ve paid for don’t exist.
Another scam hit the headlines last summer when two men were facing jail for selling diamonds to investors at vastly inflated prices. So how do you avoid diamond scams?
The most incredible one was a fellow who advertised in a quarter page ad in the London Times ( that’s pretty expensive)…….One could send him 5, 10 or 15 thousand pounds and he would buy a certified coloured diamond for you and store it in a Swiss Vault until you wanted to sell. When we read the paperwork here is what we found:
No official receipt would be issued
The certificate was by a local gem lab with no credibility but the stone was guaranteed to be under 1.00ct
The Swiss bank vault location would not be divulged.
You had to give 12 months notice in writing if you wanted to sell.
A fee of 250 pounds had to be paid before removing the stone from the vault
Because of the volatile nature of the gem market you may or may not make a profit especially if your investment was under 10 years.
Always discuss Investments in anything with your/an indenpendant Investment advisor. Do some research. If you then decide to purchase a Diamond for Investment purposes follow these simple rules.
Buy from a trusted source; How long has the Company been in the Diamond business? Are they members of appropriate Trade Associations. Google the Company name and that of their directors. Read every thing on their website. Have your solicitor look over the contract.
At Diamonds by Design, we make sure that all of our products are competitively priced and ethically sourced We are also members of the Jewellers Association of Australia and the Jewellery and Allied Trades Valuers Council.
At Diamonds by Design, jewellery and gems are our passion. Three generations have worked in this business and we treat each of our customers as we would expect to be treated, and we can provide you with bespoke gems for any occasion. We are proud of our sustainability in diamond valuation, designing jewels and selling diamonds in Sydney and not only!
If you need advice before buying, visit our website at: https://www.diamondsbydesign.com.au/
And if you want some tips on how to choose a diamond, visit our page at:
Diamonds by Design is based in Sydney, Australia and is owned by Karen Lindley; Karen has more than 30 years’ experience as a gemmologist. At Diamonds by Design we offer our customers high quality gems at a
reasonable prices and customer satisfaction is our number one aim.
For customer or email inquiries, contact:
P: (+61 2) 9232 1611
F: (+61 2) 9233 1315