1. LEARN ABOUT INTENTIONAL DIAMOND OVERGRADING.
WHAT IS INTENTIONAL DIAMOND OVERGRADING? Intentional diamond overgrading is the deliberate misrepresentation of a diamond’s characteristics by a retailer to a consumer. Most commonly, a jewelry store claims that one or more of a diamond’s Four C’s (carats, color, clarity, and cut) is better than its true grade.
WHY DOES IT MATTER? It matters because the difference in a single grade in a single one of the Four C’s can affect the value of a diamond by thousands of dollars. When multiple characteristics are misrepresented by multiple grades, your diamond just went from jewelry to junk.
HOW DID IT OCCUR? Certain jewelers saw an opportunity to pass off inferior diamonds as far more valuable than they actually were by having them “certified” or “graded” by fraudulent grading houses. Those organizations issued bogus certificates purporting to grade the Four C’s of the diamond. The bogus certificates were designed to look identical to legitimate GIA certificates and even use GIA’s grading scale.
WHAT CAN I DO? If you purchased a diamond that was accompanied by a certificate other than one issued by the GIA, you may have been the victim of diamond fraud. It’s natural to feel cheated and disgusted. After all, this was more than just a routine consumer purchase. This was supposed to be a token and symbol of you and your spouse’s commitment to one another. But you have rights, and the law gives you remedies. Keep reading to find out how to secure the compensation and recovery you deserve.