Take care who you are buying that diamond from

Darling, you shouldn't have!

28-Feb-2005

Bought an engagement ring over the internet, that is.

Fake diamonds are becoming increasingly common, according to diamond appraisers. Most have been bought overseas, either in person or over the internet, by people who think they're getting real, high-quality diamonds at bargain prices.

Others have been bought from travelling traders who set up in a hotel for a few days then skip town.

The diamonds might be completely fake - synthetic cubic zirconia or synthetic moissanite - or they may be real diamonds that are poor-grade or "fracture filled". Fracture filling uses polymer to hide cracks; the diamonds appear to be intact, but the filling can seep out over time, leaving a weaker, obviously flawed diamond.

The one thing they have in common is that they are generally over-valued. Several Wellington jewellers told Consumer that they each see an over-valued ring about once a week. Many are engagement rings, so the victim suffers emotional embarrassment as well as losing hundreds or thousands of dollars.

Wellington jewellery appraiser Dennis Blacklaws recommends buying locally and getting an appraisal from a member of the Jewellery Appraisers Society of New Zealand.

"That way you are covered by their codes of ethics and conduct, and by the Fair Trading Act and Consumer Guarantees Act." Blacklaws says any overseas purchases should come with an appraisal that meets the Gemological Institute of America (GIA) standard. But he warns that some fake diamonds might come with fake GIA certificates too.

Our view

Selecting a diamond is an expensive, complicated and emotional decision. The differences between an expensive diamond and a cheapie or a fake are subtle. You can't pick them with an untrained eye, and you certainly can't pick them over the internet.

You are extremely unlikely to buy a "bargain" diamond. There is an international market so diamonds are no more expensive in here than overseas.

If you buy over the internet, be sure the company is widely known, and has a reputable track record. Buying from a "brick and mortar" store's web site is one of the best options.