Recourse for diamond that ended up not being what was repres

[katswater]

I bought what I thought was a FLY a while ago- I had an in store grading report that said this. Since then- through a divorce and attempting to sell it- I've found out that it is a Y-Z. The jewelry store where I bought it sent it out for the GIA cert and also supplied a replacement appraisal (I was asking for a market appraisal) that stated yet again that it was a FLY (even with the GIA cert in front of them). I've tried to work this out directly with them- but they are saying that they can't do anything about it. Do I have any recourse? I've contacted the attorney general and sent letters to BBB and FTC.

 

[elliemay]

Re: Recourse for diamond that ended up not being what was re

I'm confused -- did the GIA cert exist when you bought the diamond?

 

[Amys Bling]

I'm confused -- did the GIA cert exist when you bought the diamond?

Yes, good question...

 

[katswater]

Re: Recourse for diamond that ended up not being what was re

No- all I had was in the in store grading report.

 

[diamondseeker2006]

Re: Recourse for diamond that ended up not being what was re

Y-Z are often bought/sold as light yellow. If you bought originally without a GIA cert, then you were taking the risk that the color would be off a grade or two. Obviously you liked the color or you wouldn't have bought it! I don't even think you should have contacted anyone. You should have asked for the GIA grading before you bought the stone if you wanted confirmation of the color. My understanding is that a grade or two off is acceptable since grading is not an exact science and two graders can easily grade a stone differently. EGL graded stones can easily be two grades off a GIA grade, as another example. I think if the stone had turned out to be M or something, you'd have reason to accuse them of misrepresentation, but not Y-Z. But that is just my opinion. Hopefully an appraiser will see this and respond.

 

[elliemay]

Re: Recourse for diamond that ended up not being what was re

I agree with everything diamondseeker said. It doesn't appear that the store was trying to misrepresent the stone, in my opinion, since the vast majority of people wouldn't be able to tell a Y-Z stone from a FLY if presented with stones side by side. If you had your heart set on a FLY, it would've made sense to get the GIA cert before committing to the purchase.

But hey, hindsight is 20/20 and I'm sure it's a beautiful stone either way!

 

[Dreamer_D]

Re: Recourse for diamond that ended up not being what was re

I don't think you have recourse here. In their opinion, it is a FLY. In the opinion of GIA, it is not. EGL might agree with them and say its a FLY. Actually, one color grade off is pretty good. Buying a diamond without official papers usually means a much bigger discrepancy.

 

[Amys Bling]

I don't think you have recourse here. In their opinion, it is a FLY. In the opinion of GIA, it is not. EGL might agree with them and say its a FLY. Actually, one color grade off is pretty good. Buying a diamond without official papers usually means a much bigger discrepancy.

yep.

 

[Rockdiamond]

Re: Recourse for diamond that ended up not being what was re

Hi katswater,
it seems there's two issues here.
First is your problem.
I believe that since you purchased a diamond in a given condition- that being without a proper grading report ( GIA is the ONLY report that qualifies here) - you have to deal with this on the basis you purchased it on.
That is to say- there was no guarantee that the stone was properly graded, unless there's something on a bill of sale showing that they will guarantee their grading versus GIA- and that's highly unlikely.
I'd ask what they are willing to pay for the diamond- it puts them on the spot, as they've sold it to you.
Ask nicely, and let them know you want to find a way to resolve this, and is it possible they can help.
BUT- I think you need to keep in mind that the mistake was made when you purchased the diamond- and unfortunately, that's on your shoulders. Consumers that don;t ask the correct questions are- regretfully, easy prey for those who wish to take advantage.

Second is the value and grading of Y-Z, and or Fancy Light Yellow Diamonds. There is a very real difference in price between these two grades- even if on can not see the visual difference Think about the difference between an E color and a D color- which is very real in terms of price, even for someone can not see it with their eyes.
So, sellers knowingly offering Y-Z diamonds as Fancy Light Yellows are...well, they're lying.
When we're trying to ascertain the value of fancy colored ( or colorless) diamonds, EGL grading is entirely irrelevant.

How big is the stone?
What shape?
What's the clarity?
Is there fluoresce?

These will help me to at least give you some idea of what you're looking at.