You see or hear the ads all the time—we sell only GIA, AGS, EGL etc “certified” diamonds with a “certificate” to back it up. Thanks for telling me—RUN! “Certified” is a word that is supposed to put you at ease, make you relax, so you put your guard down. But it is meaningless.
The lab “certificates” are riddled with disclaimers that specify it is strictly a bought opinion and in no way guarantees anything, making the “certificates” worthless. The jeweler will pretend he bears no responsibility because someone else graded it, so who or what “guarantees” the diamond? Nothing and nobody! Guess who is left holding the bag? Any jeweler who doesn’t tell you that “certified” does not guarantee anything, belongs in the same cell as Bernie Madoff. Look up the definition of certify (verb: certified) which includes “to guarantee as meeting a standard or to confirm formally as true, accurate or genuine.”
Do you know where the safest country in the world to buy a diamond is? Well, it’s not the United States anymore! It’s India where jewelers are buying back the diamonds they sell to customers who aren’t happy! “They’re not just selling diamonds, they’re selling security and trust”, said Marc Goldstein from Rapaport.* India is the first country whose jewelers stand behind the merchandise they sell with a lifetime buyback policy!
Currently only about twenty percent of jewelers in the U.S sell fully bonded diamonds! (Diamonds with a lifetime buyback policy). Disgraceful! I’m sick and tired of seeing a young couple down on their luck and being forced to sell their diamond to find out that it is only worth an average of 19.7% of what they PAID! Their usual response when they find out that they have been taken to the cleaners? “But it was “certified”?! Buying a “certified” diamond is about as safe as jumping out of an airplane without a parachute and told to flap your arms! I can’t be more serious about this pandemic that is destroying the integrity of diamonds. Please DO NOT buy a diamond from anyone who even whispers the word “certified”. Let 2010 be the year that we banish the dirty word “certified” from the diamond business forever and replace it with a fully bonded appraisal (F.B.A). That leaves you 100% in the driver’s seat! By refusing to buy any diamond that is misrepresented and only comes with a 30-90 day return policy you will never find yourself with a diamond you don’t want and no where to turn. Don’t buy “certified” diamonds from anyone! Fairness has to mean something again in the diamond industry!
*Goldstein, Marc. Rapaport. December 2009. Vol. 32 No. 12. Pg 49.