A gemstone scam is a type of confidence trick that involves the sale of fake or misrepresented gemstones. These scams are often targeted at tourists and inexperienced gem buyers.
There are several different types of gemstone scams, but they all share a common goal: to convince the person to buy overpriced or worthless gemstones.
Common gemstone scams include:
High-pressure sales tactics: The scammer may try to pressure you into making a quick decision or create a sense of urgency to buy the gemstone.
Lack of transparency: The scammer may refuse to provide you with any documentation or authenticity certificates for the gemstone.
Unusually low prices: The gemstone may be priced significantly below market value, which should raise a red flag.
Dishonesty and manipulation: The scammer may lie about the gemstone's origin, authenticity, or value.
Common Types of Gemstone Scams
Street scams: These scams are often perpetrated by touts who approach tourists in public places and offer them "free" gemstone appraisals or special deals.
Jewellery shop scams: These scams involve enticing tourists into jewellery shops with the promise of buying high-quality gemstones at bargain prices.
·Online scams: These scams involve purchasing gemstones through online advertisements or auction sites.
How to Protect Yourself from Gemstone Scams
Do your research: Before buying a gemstone, research its price range, appearance, and common treatments.
Deal with reputable dealers: Only buy gemstones from reputable jewellers or dealers who have a good reputation.
Require documentation: Ask for documentation or authenticity certificates to verify the gemstone's origin, grading, and treatment.
Get a second opinion: If you're unsure about the legitimacy of a gemstone, have it appraised by a qualified gemmologist.
Beware of high-pressure sales: Don't let anyone pressure you into buying a gemstone. Take your time to make an informed decision.
Avoid unusually low prices: If a gemstone seems too good to be true, it probably is.
Be suspicious of free appraisals: Touts that offer free gemstone appraisals are often trying to scam you.
Never pay cash: If you do decide to buy gemstones, never pay in cash. This will make it more difficult to get a refund if the gemstones are fake or overpriced. Instead, use credit cards to protect your purchase.
Report scams: If you believe you've been the victim of a gemstone scam, report it to the authorities and your credit card company.
Final piece of advice: If in doubt, don't buy: If you are not sure whether or not a gemstone is real or if you are not comfortable with the price, don't buy it. There are many other gemstones available, so there is no need to take a risk on a potentially fraudulent gemstone.
If you’re interested in learning all about how to buy gemstones, you may wish to consider purchasing one of my books. If you are a tourist with little or no knowledge of gemstones, we want to help you avoid being cheated out of your hard-earned cash!
"I had no knowledge or dared to buy - until I found this book and bought a gemstone for my engagement ring using Kim's list of trusted dealers in Sri Lanka!
If you are also like me, and you want to buy a gem abroad but you are not a pro, you definitely need this book!"
Be sure. Be smart. Buy with confidence