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Dazzling Diamonds – Steal Online

Updated on March 23, 2015

Before we get into the steps you can take to safeguard your online diamond purchase, you should understand how and why the Internet is revolutionizing the diamond selling business – to the benefit of the consumer:

  • Colossal information - The Internet provides an ocean of information to the buyers Informed and aware customers create hard time for diamond sellers to sell low-quality diamonds at high prices;
  • Timely information – Customer needs to up to date with latest trends, prices before purchasing anything, same applies to diamond too. Internet today helps in enlightening the customers who in turn make better buying decisions.
  • Unruffled Purchase – Purchasing online just at a click away from anywhere anytime is a gigantic reason for online shopping gaining so much popularity. Selling online reduces the overhead costs and the sellers can follow JIT(Just In Time ) which eliminates the physical store place problem
  • The internet allows brokers to have huge customer base as it can sell to customers around the world

To single out between shady dealers and genuine dealers one needs to follow few simple steps before making purchase either online or offline. Here we will particularly focus on few points which should be considered before buying diamonds online.

4C’s

4C’s - The 4Cs i.e. Carat, Cut, Color, Clarity indicates the major characteristics of the diamond.

  • Carat indicates the weight of the stone. The carat weight is mostly rounded up. A 0.69 carat diamond may be portrayed as 3/4 carat. The customer should always ask for specific carat weight and price per carat so that it’s transparent and uncomplicated to compare diamonds.
  • Cut indicates the shape of the stone and quality of the cut. Purchasing a deeply cut diamond. A deeply cut diamond carries more of its carat weight "hidden" in the depth of the diamond as opposed to the width. These poorly cut diamonds are less expensive per carat, and are common in most jewelry stores.
  • Color indicates color or tint the stone (the highest valued “white” stones are actually colorless). Jewelry store lighting is designed to make diamonds glitter more and look best. When considering any diamond, ask to see the diamond in normal lighting where standard office lighting is prevalent i.e. in skylight, atrium, window or direct sunlight.
  • Clarity indicates how clear the stone is i.e. internal markings in the stone.

Price

None of the customers are very sure about the accurate price of diamonds. The Rapaport Price List (Rap Sheet) provides the standard pricing guide to the sellers in the diamond industry. The Rap Sheet explains the price per carat for cuts, carats, color and clarity of diamonds. The customer who gets a diamond cheaper than the price mentioned in Rapaport sheet should understand that it is not a genuine deal. However the only problem is the Rapaport sheet is copyrighted and available with the dealers, retailers, appraisers.

Trustworthiness

Not all online diamond sellers are indubitable. There will be reputable seller, fraudulent sellers, and everything in-between.

When it comes to online diamond buying, our best advice is to stick with the well-known sites who have years of positive feedback and satisfied customers.

Again, there are other very highly respectable diamond dealers online, and our best suggestion when looking online is to research those dealers who have been around the longest, who have positive feedback from other customers, and who have clearly defined return policies.

Escrow Service

To remove the uncertainty part which customers face when buying online as they can just have a virtual feel of the product the online dealers now agree to ship your diamond to a third-party certified diamond appraiser in your area, who for a small fee will perform a basic evaluation to ensure it’s what the dealer has represented, and will show it to you all before you pay for the stone. The entire service is chargeable.

If you take a look at the diamond and it’s not what the dealer represented, or if it’s just not the right stone for you, the appraiser will ship the diamond back to the seller. While you might have to pay return shipping charges,

Communication

The majority of problems with buying a diamond online are due to a lack of communication between the retailer and customer. Make sure you communicate things like deadlines and requirements such as budgets and expectations regarding the diamond, i.e.: no black marks.

Desists Cash Payment

Customers should avoid making payment in cash rather they should opt for other payment options like credit cards. Credit cards safeguards consumers in situation when they face problems regarding the purchase or quality of the product, in case if the customer wants a refund because of genuine reasons then the credit card provider helps in this.

Stock

When the dealer has inventory of diamond it is indirectly beneficial for the customers too. Prompt shipment, protracted restitution scheme, meticulous intelligence is few perks which the customers enjoy when the vendors have stockpile of product (diamond)

Return Policy

The website from which customer is opting to buy should have satisfactory return policy .The website should precisely educate and inform the customers in time if there are any costs involved in returning the diamond.

Certified Diamonds

The customer should always buy certified diamonds. Few known certification for diamonds are GIA (Gemological Institute of America), AGS (American Gem Society) EGL (European Gemological Laboratory) , IGI (International Gemological Institute ) certification. Whilst EGL and IGI certified diamonds are considered comparatively as cheap however they too are inconsistent to take such huge risk when buying online, as the products till possession are virtual.

However customers’ needs to focus that there is a difference between a GIA certified diamond and a diamond that has been certified by a GIA trained gemologist. GIA certified diamond has been graded at an independent GIA facility, by GIA technician’s .In the second case, the diamond has been graded by a jewelry store employee who has been trained by GIA here the diamond has no GIA certification, and it is unlikely that the diamond was actually graded in strict accordance with GIA standards .

Laser Inscription

The diamonds which are not laser inscribed can go for inscription through the retailer which can act as an identification mark and help in safety. Laser inscribed diamonds are safer and preferred today, in a situation where you need to leave your diamond with a jeweler (to have it set in a ring, or to have an existing ring cleaned or repaired), but are concerned about the (remote) possibility that the jeweler may switch your diamond for a diamond of lesser value then laser inscription can act as a identification mark.

Warranties and Guarantees

Guarantees and warranties today seems to be deceiving as at times the customers feel cheated as there are many clauses to get these benefits so the customers should be clear about the guarantee and warranty before buying products. Most guarantees do not cover loss, theft, or damage. Guarantees and warranties become void if another jeweler repairs, alter, or even cleans the item. Often the cleanings and inspections are not only free; they are required to keep the warranty in force. A surprising number of jeweler's guarantees are not actually in writing.

Be Smart and Shop Smartly!!!

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