June 2007
Buying jewelry?
Don’t get bling-boozled
GOLD STANDARD The lack of brand names makes it hard to shop. One thing to look for: The karat mark that should be on all real gold.
If April showers and May flowers lead to thoughts of jewels in June, beware. Jewelry is a tricky buy, especially if you can’t
tell a carat from a karat. Here are 10 tips on choosing a gem of a jewel:
- Know your karats. The price of gold varies with karat number (a unit of fineness), weight, design, finishing (by hand vs.
machine), and country of origin. Pure gold, 24 karat, is too soft to be molded into jewelry, so it’s mixed with other metals.
Changes in gold’s color result from the metal mix-in. Anything less than 10 karat, about 42 percent gold, can’t legally be
sold as gold. “Fill,” “overlay,” or “electroplate” indicates a thin gold coating.
- Check a diamond’s four C’s. Value is based on (in descending order): cut, color, clarity, and carat (weight). Diamonds and
other gemstones can be mined or made in a lab. It’s nearly impossible to tell the difference, but an ethical dealer will reveal
if a stone is synthetic or has been treated. Most jewelers adhere to the Gemological Institute of America’s grading system,
but you’ll need help interpreting. Very valuable stones should come with a detailed description from the GIA or another group.
- Buy from a certified gemologist belonging to a group such as the GIA, Jewelers of America, or American Gem Society. Also ask
friends for names of jewelers they trust. Make sure the dealer allows plenty of time to return jewelry for a refund.
- You might save online, where markup is low, but you won’t see the jewelry firsthand, gem and mounting might be sold a la carte,
and sizing could cost extra. Check out www.diamondtalk.com and www.pricescope.com, where consumers share experiences.
- Be aware that chain stores are likely to charge less than local jewelers, but their salespeople might be less knowledgeable.
- Don’t buy promises of huge discounts. “Ninety-five percent of the discounts I see are fictitious,” says jeweler David Nytch,
a certified gemologist appraiser who has worked in retailing, “because the pieces are vastly overpriced to begin with.”
- Consider the source. Under a voluntary international system, the diamond industry has agreed to keep a paper trail as diamonds
move from mine to store. The system isn’t perfect, but it can help buyers avoid “blood diamonds” that have financed conflicts
in Africa. Ask to see a written guarantee on the invoice that comes with every stone. There’s also an international effort
to ensure that gold-mining operations respect human rights and the environment. For a list of retailers that support the campaign,
go to www.nodirtygold.org.
- Pay with a major credit card. It might give you recourse if problems arise.
- If you’ve bought expensive jewelry, have it valued by an appraiser certified by the American Society of Appraisers (go to
www.appraisers.org or call 800-272-8258).
- If you suspect you’ve been taken, contact the Jewelers Vigilance Committee (www.jvclegal.org). For $75, its dispute-resolution service mediates between buyer and seller.
