Introduction to Diamond Investment Scams:
Diamonds are some of the most beautiful and unique gemstones in the market. With more demand in the market and less supply, the prices of diamonds have risen more than ever. Considered as one of the best investments in the market, diamonds have been the favorite of many. However, in recent times, the diamond market has also experienced an inflow of scammers. In this article, we will be discussing some of the different types of scams present in the market and how you can also avoid these.
What are the different types of Diamond Investment Scams?
One of the common methods of a Diamond Investment scam is when the sellers stick to the use of color treatments for selling the diamonds. As colored diamonds are more in demand than regular ones, the sellers often attempt such practices in order to fool the customers into selling the diamonds at a higher price. They make the diamonds undergo color treatment and do not inform the buyer about the same.
Swapping of the diamonds
Another common scam that happens in the diamond market is when the diamond seller swaps the diamond chosen by the customer with another one possibly of much lesser quality and price. In such situations, the buyer chooses the diamond of their choice and according to their budget but when they receive the jewelry they won’t find the same diamond in there.
Scams around the carat weight
One of the determinants of the price is the weight of the diamond, some sellers attempt to scam people in this too. Sometimes, the sellers will lie to the buyer about a less weighed diamond being of more weight and sell it at a greater price. The buyer, who is not much experienced in the diamond will believe the buyer and pay the higher price.
Diamond with flaws
Another common scam in the market is when the sellers deliberately hide the flaws of the diamond in order to sell them to unsuspecting customers. By hiding the flaws present in the diamond, the seller will present it as any other diamond in the market and take full money for it.
How to avoid Diamond Investment scams?
To avoid Diamond Investment scams, here are a few steps to follow :
- While going to buy diamonds one must consider taking an expert with them.
- Go to only a trusted diamond seller to purchase a diamond.
- Lastly, conduct proper research before going to purchase diamonds.
Conclusion: Are Diamond Investment scams real?
To sum up, all that has been stated above, we advise our readers to stay extremely careful while purchasing diamonds. If you have been scammed by a diamond scammer, file a complaint with us and we can help you out. If you have been scammed by any scam broker, just fill the form above and we will get back to you with the best solutions to get your money back.
Also, read about Cryptocurrency trading scams here.
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