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Diamond scam

19.11.2020

how to avoid diamond scam

Diamond scams as a type of scams have been popular for ages! You may even don’t know how big this problem is nowadays. In the time of online sellings, e-shops, and online jewelry traders such dilemmas as online frauds concerning diamond’s fakes sales are crucial on the edge of cybersecurity and international cooperation of bodies of the states to defend justice.

So if you want to invest in diamond or diamond jewelry you should read this information about how thieves can trick you!

Abstract of the article

  • Why diamonds are scams;
  • How to buy diamonds online without getting scammed;
  • General types of diamond scams;
  • Diamond scams: avoiding such issues;
  • Two famous examples of diamond scams.

Why are Diamonds Scams?

diamond scam

They look beautiful, shiny and they are one the most precious gifts in the world! Diamonds! They are not only one of the luxuries stones in the world but also a solid investment like gold and silver. A lot of people consider or even dream to have at least one of them.

As you know, your dreams can come true if you have money. Due to the Internet, there is no difficulty to have a diamond without going to the mines or jewelry store. And it’s a perfect place to trick and deceive you to take your money from you.

Diamond Scams: Avoiding Such Issues

Think about five main characteristics to understand which diamond you see on the screen and how it will look like in your hands.

How to Buy Diamonds Online Without Getting Scammed?

Bear in mind the following things: cut, certificate or license, carat weight, color, and clarity. Your trader must prove all information that he has provided to you in a form of text or pictures. How he or she will do it can explain you are working with a trader or scammer.

For example, you can ask:

  • To present the license for trading such kind of expensive products;
  • To send a photo where you can see that the diamond is weighted;
  • To send the diamond to some independent specialist that will examine the quality of your future investment;
  • To show the original documents (not copy) that will confirm the reliability of this stone (EGL USA Gemological Laboratory, Gemological Institute of America, American Gem Society), etc.

General Types Of Diamond Scams

What Should You Know About Color?

Colored diamond investment scams are a widespread issue because only the professional eye can see what it is looking at, rare stone or simple glass or plastic fake. Colored diamonds are purchased due to their spectacular colors, endurance, and high price.

You should remember that these colored stones didn’t get their colors from our mother Earth. All colored stones get their unique colors during a prolonged and hard artificial process (made by a man). This is the main reason why the cost of colored diamonds is lower rather than natural and classic ones.

Though the application of some methods is admissible under specific circumstances, it is unacceptable to trade artificial diamonds at the same or higher price. This kind of scam is a widespread phenomenon all over the world. But how? Artificial diamonds are still precious stones and must have a diamond’s certificate stating its color and color of origin. Without it, you can’t understand if they are fake or not only by the picture from the Internet.

The Diamond Swap

The second popular daily scam is the diamond swap scam. Simply, you expected to see one kind of diamond but you received completely another one. It is such a shame to pay a full-price for some fake and make scammers happier and wealthier, right? The best method to avoid it is to examine the diamond closely and to have knowledge about diamonds.

Likely, look for tags and marks on the diamond that will help you understand which type of it. Also, you should ask to look through the precise documentation showing the details of your diamond. It is the easiest way to understand are diamonds a scam.

Carat Weight Scams

The carat weight of a diamond is a very risky question to start with for many causes. Firstly, the more a diamond weighs the higher price is. Expert and well-educated diamond hunters and wealthy buyers are looking for heavy lovely stones. And that’s why scammers try to use this feature to raise some cash. Some fraud traders are playing with an approximate number of weights while others are trying to round off carat weights. You should always ask to send some proofs about the actual weight which is prescribed in the characteristic presented by a dealer.

Three Famous Examples of Fraud Companies

types of diamond scams

We are to help you to avoid the world-famous scamming companies! If you just want to know which company is related to diamond investment scams, make Google-wudu-searching magic. Type in the search form: “is (name of company) a scam”. For instance, if you read the results about “is Diamond Resorts a scam” you will find dozens of reviews and reports about it. Generally, finding information about companies and firms that advertising people to invest funds is easy to check in Google. Moreover, let’s go to the “is PayDiamond a scam” request and you may find even videos on YouTube. The same is about Crater of Diamonds. To be sure that we are not trying to scam you you can just read the real stories of their victims and consider yourself should you trust the answer of Google to your demand about next “is the Crater of Diamonds a scam” or not.

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Author of article

Arthur Specter

Interests: accounting, literature, banking, jurisprudence

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