2007

What Kmart Diamond Error Can Teach About Buying Diamonds

March 2007

A recent story on a Virginia Beach TV station tells of a woman who got a diamond ring at K mart that later turned out to be a complete fake.

The ring was on sale, Kmart said: Originally $1,800, it was marked down to $571. She then took it to an appraiser, who said there was no gold or diamonds in it, and it was worth at most $30 in terms of value.

She has since hired an attorney and contacted the news people. A statement from K mart said they are "conducting a full investigation."

The newscaster later warned viewers that "there really aren’t any great bargains or diamonds other than what would be perhaps misrepresentation or fraud" and to "avoid companies that discount their diamonds."

Sound advice. Now we are sure that K mart did not intentionally try to deceive the customer, and likely the sales associate did not either. They likely just made a mistake.

But such mistakes may be inevitable in a big store. The diamond business is not easy. It is complex. There is a lot to learn. There is a reason why gemologists need experience. People who work at stores that sell all sorts of products are bound not to have the same knowledge as someone who has many years of experience dealing with diamonds.

The same goes with web sites who don’t actually own the stones they sell, but instead sell diamonds without even looking at them. There is a far greater chance of mistake and misrepresentation. The message is clear: In diamonds, stick to the experts.