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Gold/Mining/Energy : Trump's 12 Diamond Picks, Discussions Limited
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To: George J. Tromp who wrote (2108)6/7/1999 10:00:00 PM
From: bill  Read Replies (2) of 2251
 
George,
I'm skeptical about selling diamonds over the internet. Having bought
and sold loose gem stones, I'm only too aware of how completely
dependent the vast majority of buyers are on the integrity of the
seller. The truth is that 99.999 percent of people simply go to
a retail dealer and buy a diamond ring, pendant, etc. They totally
put their faith in the reputation of the seller. Buying at auction,
as I've done a fair bit of, depends completely on the certificate
that comes with the gem stone. A one and a half carat diamond, an
emerald, a ruby, could be just about anything. There are few real
experts who can give an accurate value for gem stones and even these
often disagree. The "branding" might help but that, too, can be
quickly faked.

One instance I know of that shows how chancy handling diamonds is of
a woman who took a diamond ring in to be cleaned and reset. Supposedly
reputable jeweler. Ring came back. Looked just fine. A couple of
years later there was a problem with the setting. Took it in to
another highly reputable jeweler. He had some shocking news. The
diamond wasn't a diamond at all but a nicely cut fake.

Now, who stole the diamond? The first jeweler or the second? Or
did the owner pass off a fake stone in hope of getting the insurance
money? Hard to say.

What will make it harder is the postoffice scam that ran in the US
and Canada for many years. I know someone who got taken for 50,000
dollars. Buy loose gems through mail. Great investment. Piece of
crap, actually. Not worth much more than colored stones on the
beach. He thought he was making an investment.
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