- Report: #212372
Complaint Review: Diamond Studs And More - Pennsylvania
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Diamond Studs And More
Pennsylvania, U.S.A.
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Diamond Studs And More ripoff Pennsylvania
I purchased a few "fine jewelry" items from this company on bid4assets.
The description showed very beautiful peices of jewelry accompanied by supposedley certified appraisals.
I finally took them to a jeweler to see what their current value was. The jeweler is also a coin dealer and I sold him some coins so I know that the guy is a very honest individual.
He said sorry but I have bad news for you. 1) The appraisals do not match the jewelery. One piece is 14kt gold yet the appraisal report says 18kt gold. The appraisals value both peices that I purchsed to be in excess fo $30,000.00 but the TRUE value of these peices are not even $1,000.00.
CARPE DIEM. Be ware of this company!
Damon
Boca Raton, Florida
U.S.A.
The description showed very beautiful peices of jewelry accompanied by supposedley certified appraisals.
I finally took them to a jeweler to see what their current value was. The jeweler is also a coin dealer and I sold him some coins so I know that the guy is a very honest individual.
He said sorry but I have bad news for you. 1) The appraisals do not match the jewelery. One piece is 14kt gold yet the appraisal report says 18kt gold. The appraisals value both peices that I purchsed to be in excess fo $30,000.00 but the TRUE value of these peices are not even $1,000.00.
CARPE DIEM. Be ware of this company!
Damon
Boca Raton, Florida
U.S.A.
2 Updates & Rebuttals
Diamond Studs and More
Lancaster,Pennsylvania,
USA
Appraisals Done by Third Party GIA Gemologist
#2REBUTTAL Owner of company
Tue, February 07, 2017
All appraisals are done by a third party GIA graduate gemologists. Our company has nothing to do with appraising jewelery.
Also, return policies were stated in the auction description.
Aafes
Viernheim,Europe,
U.S.A.
Fine Jewelry
#3Consumer Comment
Sat, September 23, 2006
"Fine" jewelry is definitely NOT an investment vehicle. Gold bullion is currently fluctuating in price between $590 - $600.00 an ounce on the spot market. An ounce is approximately 28.34 grams in weight. Few rings, earrings, or pendants including the chain contain more than 1/2 ounce of gold. The gold value for 14 Kt (58.33% gold) or 18 Kt (75% gold) decreases accordingly with the carat value and the actual weight. The gold in most jewelry is worth less than $100.00. This is why a jeweler or pawnbroker will offer you very little money for a wedding band (as an example). Diamonds have a retail markup on average of 400-500% of their actual value. In addition you will pay for the setting and popularity of the actual piece of jewelry. The "appraisal" value is almost solely for insurance purposes. It is often inflated well above the actual replacement value. There are several independent gemological labs in the U.S. that will perform an appraisal for a jeweler or manufacturer on a non biased basis. Many companies have their own "appraiser" and in these instances the appraisal will basically state exactly what the company asks the appraiser to say. If you were sold 14 Kt gold and it was represented as 18 Kt, I would think you should have legal recourse of some kind. Aside from the appraisal, you should check the actual jewelry - in almost all cases there will be a "stamp" indicating the gold Karat content.
