Diamond is the most precious stone in the world. This explains why buying diamond rings can cost you a lot of money. And due to the inherent cost of buying diamonds, a lot of jewelers have tried to exploit the fact and overgrade diamonds they are selling. Overgrading is the reason behind the infamous Diamond Doctor fraud. A lot of victims fell for the fraud resulting in Diamond fraud case Dallas controversy.
Buying diamond and diamond rings should be a memorable purchase in your life. But it shouldn’t be a nightmare. You need to be smart when buying diamonds online to avoid similar diamond fraud case on Diamond Doctor due to overgrading.
What is Diamond Overgrading?
The intentional overgrading of diamond is when the jeweler or retailer intentionally misinterprets the characteristics of a diamond to a buyer. It is no secret that you should consider the 4 C’s when evaluating the quality of a diamond: cut, carat, color and clarity. But with overgrading, a seller could claim that the actual quality of these 4 C’s is better or superior than its actual grade. With a better grade, it also means that they could sell the diamond for a higher price than its actual market value.
This slight difference in the value for each of the 4 C’s can have a huge impact on the price or cost of buying such diamond. That difference is thousands of dollars in monetary value. If your seller misrepresents several of these characteristics in the diamond, then you could be robbed by thousands of dollars too!
What to Do About It?
As a consumer, you need to be extremely cautious about where you buy your diamonds from. Authorities now deal with Diamond Doctor fraud, but there could be several other jewelers out there overgrading diamonds too. Whenever you buy from a diamond seller, always ask for a certification of the diamond grading. The only authorized certification is from GIA. You should be extremely wary of jewelers who claim to perform their diamond grading in-house. If they are unable to present a GIA certification, then there is no validity to the diamond grading certificate. You can also have the diamond graded by another independent grader but don’t bring the certification provided by the jeweler. This will ensure that the grading provided to you will be provided without any basis or preconceptions. More details at DDF.
If, in case, you purchased from the Diamond Doctor fraud, you need to take it to the authority. You can also file a lawsuit against the jeweler, which in this case is Diamond Doctor. The authorities can help you with the succeeding steps in the lawsuit.
Buying an expensive piece of jewelry like a diamond ring is a sentimental investment for most consumers. There is nothing more disappointing than realizing that you paid more for what the actual jewelry or gemstone costs. With a massive fraud that could cost millions, you need to take the proper legal action to prevent others from becoming a victim too. Visit them online http://www.diamonddoctorfraud.com/.