Diamondsfromnewyork H. Chandra Diamonds GIS Lab Cert

[DiamondDisappointed]

I purchased a 4.01 carat, G color, VS1 clarity diamond from H. Chandra Diamonds for investment purposes. The stone was advertised as being set in platinum. The stone arrived two days later than agreed and was immediately taken to a GIA trained independent appraiser. The diamond was 4.30 carat, F color andI2 clarity set in white gold. Additionally, the stone had seven laser drills to lighten the inclusions in the stone. The stone came with a GIS certificate that matched the stone that was ordered and paid for. We contact John immediately and asked if an error was made. He said that he would ship the correct diamond but after being informed that the next diamond would go straight to the appraiser, John emailed that he would refund the purchase price.

Do not deal with this firm, also known as Diamondsfromnewyork.com, they are on EBay and http://www.trocadero.com/47thstnewyork. The company did refund the money BUT we worked on this deal for over a two weeks, we are out the cost of the appraisal and the cost to re-ship and insure the stone. The seller even attempted to charge an additional $50 for returning the stone.

Offer:

Gorgeous DIAMOND & PLATINUM RING.
Platinum is considered to be Eternal, Rare & Pure.
This diamond has an incredible brilliance.
METAL SPECIFICATIONS
Metal Name: Platinum
Metal Weight : 7.2 grams

STONE SPECIFICATIONS
Stone Name: DIAMOND
Stone Cut : Round Brilliant
Stone Specifications: There is one LARGE diamond of approx. 4 carats. Natural earth mined diamond
Total Stone Weight : approx. 4.01 carats
Stone Certificate: Comes with FREE STONE CERTIFICATE worth $45.00.
Color : G
Clarity : VS1

RING SPECIFICATIONS
Appraised Value : $135,000.00
Appraisal : Comes with a FREE APPRAISAL


http://marketplaceadvisor.channeladvisor.com/storefrontprofiles/default.aspx?sfid=67737

http://www.trocadero.com/47thstnewyork/items/740798/item740798store.html#item

 

[Ellen]

DD, thanks for the heads up. I'm sure it's been a bit disappointing, but consider the little amount of money you're out worth a lesson learned. From the Ebay stories we've heard, you are SO lucky.

And just a heads up, diamonds should not be purchased for investment purposes.

https://www.pricescope.com/community/threads/reselling-gems-jewelry-what-can-you-expect.17952/

I would suggest doing a bit of reading here, and buy from a reputable vendor.

 

[Lorelei]

Date: 1/14/2009 8:44:21 AM
Author: Ellen
DD, thanks for the heads up. I''m sure it''s been a bit disappointing, but consider the little amount of money you''re out worth a lesson learned. From the Ebay stories we''ve heard, you are SO lucky.

And just a heads up, diamonds should not be purchased for investment purposes.

https://www.pricescope.com/community/threads/reselling-gems-jewelry-what-can-you-expect.17952/

I would suggest doing a bit of reading here, and buy from a reputable vendor.

Ditto.

 

[Rockdiamond]

What a horrible story!
I''m disappointed reading it.

Too bad you did not find this site before you bought....
Still, there''s a few good points to share....
1) If you look at this seller on eBay, they give ample evidence that there''s problems. For one thing, they offer diamonds with no photos- actually there is a photo- but since the photo is repeated on multiple listings, we can deduce the photo is not the diamond they will be shipping. BIG no no.
It would be nice of they let shoppers know that.....but no such luck on that count.

2) negative and neutral feedback- again- eBay does at least allow us to see where these sellers have disappointed other buyers as well.

3) The use of non GIA - and purposfully deceptive "certificates"

Out this all together and an educated shopper will RUN away ...thankfully, now you will be an educated shopper!

 

[Steel]

Wow.

But you should not be ''Diamond Disappointed'' for too long

.

You got away relatively unscathed. Do some more research and I am sure you will get a Dazzling Diamond quicker than you think. Then you will have to change your name.

Ps. Ditto Ellen''s investment comment.

 

[Rockdiamond]

Thanks for bringing that up steel
I forgot to touch upon that part....


Although diamonds do hold value better than many things we buy, they should NOT be purchased as a financial investment. The main problem for a consumer is that if you need to sell a diamond, you will have to accept less than it''s worth- far lower than the price a dealer asks.

If you think in terms of an investment in yourself, that''s a good way to look at it.
Seeing how my DW looks when she puts on her rings in the morning has proven to be extremely valuable.

 

[DiamondDisappointed]

UPDATE:::::

John of H Chandra Diamonds refunded 2/3 the price of the stone. I had to make contact again and demand the balance. I called the credit card company to dispute the charge and cancel the credit card. Who knows what will happen with my information in the hands of H. Chandra Diamonds.

This firm is the worst that I have ever experienced. The purchase was not via EBay but upon searching the name, I discovered he was an EBay seller. I have contact EBay and given them the entire email sting and asked that they review the seller. I have contacted every other site that he uses and again provided all transaction information so that his business practices will be investigated. He has been reported to Google checkout since that is where the transaction was completed.

The purchase of a diamond for investment purpose was because real estate prices continue to decline (my house has lost 35% of its value in 2 years), the stock market continues to implode, gold is a roller coaster etc. I may have to accept less upon liquidation but I am hopeful that it would not be 75% less which is where my stock portfolio rest as of close on Friday.

Have a great weekend and thank you for all the input. I still plan on purchasing a few diamonds for investment purpose but never deal over the internet again. The book Surviving the Crash (the complete destruction of the global financial world as we know it) recommends a diversified portfolio to include precious metals and stones, cash in several currencies and government bonds from several countries. Perhaps foolish but "whatever makes you sleep at night".

 

[arjunajane]

I wouldn''t let this one shoddy store taint your view of all internet vendors.
PS evolves around recommendations to some of the most scrupulous, honest, value for money vendors out, and they also just happen to run internet stores.

The warning flags here were quite clear, imho. But with a bit of education and research, you too will be able to spot them easily.
If you wish to continue looking at diamonds for investment, that is of course your business - but I can almost garauntee you will not find any great deals shopping in regular B&M stores, diamond districts and diamond "wholesalers". Infact, you are likely to run into more bad practices.

As mentioned, if you perform your due dilligence, recomended online vendors are the best place to find competitive priced stones, due to their lower overheads etc.

I''m glad you got your money back, I agree with Ellen - cut your losses and consider yourself lucky.
I would also report them to the BBB, hopefully you can prevent others from being taken in future.