Sun 6 Jan 2008
The outlook for polished diamond prices is bullish. While the U.S. jewelry market appears to be soft, other regions of the world are posting solid sales gains for diamond jewelry, especially for larger carat, high quality goods. As long as the demand for diamonds and diamond jewelry remains strong, prices will likely rise.”
Economists’ forecasts call for the global economy to remain reasonably healthy, though there could be some pockets of weak economic activity in some regions of the world such as the U.S. Overall, though, forecasters are now suggesting that the Asian, Indian and European economies will post markedly strong growth.
The Diamond Guru: Polished Diamond Prices Increasing
January 22nd, 2008 at 12:23 am
TRADE ALERT
Inaccurate GIA, IGI & EGL Colour & Clarity Grades in Australia
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Diamond Consumers Beware
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We recommend when purchasing diamonds in Australia with either GIA , IGI or EGL diamond grading reports to verify the accuracy of the diamond grading report / diamond certificate.
The Diamond Certification Laboratory of Australia in Sydney ( DCLA Telephone 02 9261 2104 ) can provide this service.
The DCLA is an International Diamond Council diamond grading laboratory.
GIA, IGI and EGL are not IDC diamond grading laboratories.
DCLA is one of only five laboratories worldwide recognised as an International Diamond Council (IDC) laboratory and DCLA is the official CIBJO laboratory for Australia and holds the official registered National Diamond Colour Masterset for Australia.
We are of the opinion that GIA , IGI and EGL although compliant, some diamond grading reports fall well short of stated colour and clarity grades.These occurrences are becoming more prevalent.
This usually means you might be paying more for a diamond that is being misrepresented as being a higher valued quality than would normally be accepted if the diamond has been down graded.
If the diamond has been up graded you are entitled to keep the diamond locked in at the original agreed price.
Sometimes down grades are not the fault of the ethical diamond vendor.
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Take the Con out of Consumer
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Do not pay in full for any diamond in advance to an online website dealer promising you a full refund if you are not satisfied.
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However a deposit of 10% is acceptable as a token of good faith by the serious buyer to cover the cost of any applicable 10% GST( Goods & Services Tax) for any diamond that may need to be shipped into the country plus any nominal incurred pre confirmed shipping costs.
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This is why it is always better to enquire about a diamond that is already in the country to avoid any future hassles.
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Make sure you receive in writing that the 10% deposit is also fully refundable should the diamond in question not meet your expectations.
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For further protection it is best to pay the 10% deposit by credit card and receive a tax invoice stating it is a fully refundable deposit.
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Do NOT sign the credit card transaction.
The diamond vendor will receive the 10% credited to their account without a signature.
Only sign for the 10% deposit after you are satisfied and paid for the balance.
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Should the need arise your credit card supplier will act on your behalf to request a charge back because goods were never received if the diamond website dealer has not refunded the 10% deposit back to your credit card within ten working days.
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See the Diamond Buy the Diamond but verify the diamond’s grade before purchase and insist on a cold laser inscription only.
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If the diamond has already been laser inscribed, request that the diamond be checked for any damage while verifying the diamond’s true grade at DCLA.
If the diamond has not been laser inscribed , the DCLA grading is correct and you are satisfied, then request that the DCLA cold laser inscribe the diamond before it leaves the laboratory.
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Pay particular attention to those diamond vendors in Melbourne with any other affiliated interstate offices.
Nearly half the worst case scenarios we have seen are emanating from Melbourne.
We also believe one major website dealer despite making bold claims of global connections and access to huge stock levels that do not exist, is insolvent.
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This same website dealer and others like him is also marketing diamonds from non compliant diamond grading laboratories mixed in with compliant diamond grading laboratories and also selling diamonds without diamond certificates or diamond grading reports.
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This exposes both the innocent diamond consumer who may buy a diamond from a diamond website dealer and any other diamond wholesaler who chooses to supply a diamond website dealer to become an unsecured creditor should liquidation,bankruptcy or criminal proceedings be imposed due to insolvency.
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It is the responsibility of the diamond consumer to protect themselves against any misrepresentation by requesting an independent second opinion.
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Inaccurate colour grading evidence is further supported by Adamas Gemological Laboratory USA.
Source thediamondguru.blogspot.com/2008/01/trade-alert-inaccurate-giaegl-igi.html
February 18th, 2008 at 9:58 pm
Why is it critically important to see the diamond before you anything pay for it.(even a deposited)
buying diamonds is one of the most personal and exciting purchases you will ever make.
Here are some buying tips.
Always make sure that the diamond is available.
if the retailer has to get the stone for you, never pay a deposit.
Australian jewellers have a comprehensive diamond stock available at all times locally.
So if your retailer does not have the stone and you want to let them get it for you. fine but never, ever put down a deposit with out seeing the stone first.
There is no reason to lock yourself into a retailer when you do not have to.WARNING! If they can’t get the stone with out paying for it go somewhere else.
So how do you go about it ?
First buy from a jeweller, there is a big difference between a jeweller and a retailer or drop shipper.
A jeweller will be able to advise you and design you jewellery,they will also have diamonds and designs on hand.
This will make the whole experience more enjoyable.
When you have found the jeweller you wish to use, Don’t be shy,check their credentials ask around about their reputation.
It is better to find out from someone else’s bad experience than to go through it your self.
When the jeweller shows you your stone make sure that it is the same one you will get, and not an example.
Two stones of exactly the same quality can look very different.
Take down the certificate number and weight if you can not get a copy of the certificate to take with you.
This will help you identify the stone when you pick it up.
Some retailers will show one diamond as an example and supply another which they will import, that is not a good idea you must see what you are buying, that is why you are better of dealing with a jeweller.
Never ever deal with a retailer that, grades or assigns the quality of the diamond in-house.
These are known MGR (manufactures grading reports) or (in house reports), this highly unethical practice is to be avoided at all costs and is a great indicator of the ethics of the supplier