diamond scam

Avoiding Tricks And Scams When Buying Diamonds

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avoid scam while buying diamonds

Whether you are shopping online or in-store, there are scams everywhere. The birth of the internet makes people even more vulnerable to falling for various tricks scammers try to pull on unsuspecting buyers.

The key is to know what type of scams are out there as well as the potential red flags so that you stand the best chance of finding somewhere reliable. This article will discuss the signs you can look out for and how to avoid scamming when buying precious stones such as diamonds. First and foremost, finding a reputable retailer with a bulletproof reputation is essential. The Australian Diamond Network has wholesale diamonds Sydney collectors prefer and is a fine example of a good diamond supplier as they stock certified diamonds and have been operating for decades in the marketplace.

How To Avoid Tricks And Scams When Buying Diamonds

buying a diamond

Potential scams shouldn’t put you off buying diamonds firstly. There are pitfalls and scams in almost every investment of life so getting clued up on how to do it smartly is the best thing you can do.

Protect yourself from fraud and scammers with the following tips when buying a diamond:

  • Get educated – firstly, if you are new to buying diamonds you want to do your research. Recognize this isn’t just an everyday purchase and there are actually many things to discover about this precious stone. One of the first things you need to be finding out more about are the 4 C’s. Knowing what the Clarity, Cut, Carat and Colour mean in diamond terms and how these impact price is essential. Before you even start looking, get clued up on these factors.
  • Always check if your diamond comes with a certificate – any genuine and authentic diamond retailer will have a certificate to support the 4 C’s of the diamond. This means you should see a certificate from either the GIA (Gemological Institute of America), the AGS (American Gem Society) or the EGL. When you see these, they are certified marks of authenticity to guarantee the diamond is genuine.
  • Avoid the Carat total weight trick – if the buyer doesn’t know much about buying diamonds, this one is sure to catch them out. If you find the price tag on a ring for example and it’s for the entire carat weight of all the diamonds and not separately, this is a red flag. You should know each value for each diamond to avoid overpaying as there is a good chance the surrounding diamonds will be much less than the center stone.
  • Be wary of the half price and unbeatable sales – sales can also catch unsuspecting buyers off guard. When it comes to those amazing ‘can’t believe it’ deals, they are normally too good to be true. If something is highly discounted, there’s a big chance you are paying for more than you should get.

diamond scam

Following the above tips will ensure you stay safer when buying diamonds and avoid common pitfalls that befall new buyers.

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