How to Safely Buy a Diamond Online - Part 3 of 3

It is now possible to save 40% to 60% by purchasing a diamond engagement ring from an online diamond retailer, rather than from a bricks-n-mortar High Street jeweller. Online diamond retailers don't have retail shops, sales staff, large diamond inventories and other associated operating expenses and are therefore able to pass on the cost savings to consumers. Of course, a diamond might be one of the largest one-off purchases made in one's lifetime and so it is understandable that many people may be uncomfortable paying for a diamond before it has been seen and examined. However, as long as the correct research and precautions are taken there should be no reason to be fearful about buying diamonds from Internet diamond merchants. The three most important aspects of the pre-purchase checks that must be carried out are: 1. Assurance that the diamond business is legitimate, 2. Assurance that the payment method is secure, 3. The risk of merchant fraud or failed delivery is mitigated. In part three of this three part series we examine the third aspect which is to ensure mitigation of the risk of diamond merchant fraud or delivery failure. Mitigation of risk of diamond merchant fraud and failed delivery Only Buy Laboratory Certified Diamonds Rule number one when buying any diamond is that it must have a certified laboratory report from one of the major gemmological institutes. This gives assurance that the diamond being purchased is the same specification that the diamond merchant has described. Returns Policy Examine the returns policy of the diamond merchant carefully for any extraordinary or unusual points. When making any purchase over the internet the buyer has a 7 day cooling off period within which to cancel a purchase for a 100% refund. This is because internet retailing falls into the retail category governing selling at a distance and the relevant UK consumer protection laws. All online diamond merchants should mention this as matter of course. Credit Card A significant advantage of paying by credit card is that if anything goes wrong with the purchase then the buyer is covered by the UK Consumer Credit Act 1974. The credit card company may then also be liable for the purchase to the same amount as the diamond merchant and payment of the credit card to the amount of the purchase can be withheld until the purchase dispute is resolved. Escrow Service An escrow service is effectively an independent third party that ensures receipt of the diamond by the buyer and receipt of payment by the merchant. The process is as follows: 1. The terms of the transaction are agreed between the buyer and merchant and the escrow service is contracted to aid the transaction. 2. The escrow company receives payment from the buyer of the diamond. 3. The escrow company then confirms to the merchant the buyer's payment has been received. 4. The merchant then sends the diamond to the buyer. 5. The buyer confirms receipt of the diamond to the escrow company. 6. The escrow company sends payment to the merchant. The escrow service usually charges a small percentage of the purchase cost as a fee. As an indicator of the importance of using an escrow service eBay recommends using one for purchases over �300. Remember, a large saving is being made by purchasing the diamond online, so it won't hurt to get peace of mind for the small percentage an escrow will charge. But make sure you carry out the appropriate research on any escrow company as there have been instances of fraud. Independent Appraisal An extra precautionary check is to have the diamond merchant send the diamond to an independent diamond appraiser so the appraiser can confirm that the diamond matches its Laboratory Certificate. The appraiser will confirm the authenticity to the buyer, who can then arrange payment for the merchant. Once receipt of payment is confirmed by the merchant, the appraiser can then send the diamond on to the buyer. In this way the appraiser also acts as an escrow service. An insurance appraisal could also be carried out by the same appraiser, which is something any insurance company will need to see before insuring the diamond. Recorded, signature-required, insured postage A recorded delivery method that is insurable and requires a signature on arrival is the safest way of receiving the diamond through the mail. Royal Mail Next Day Special Delivery with Consequential Loss Damage purchased is an excellent choice. When transporting the diamond by mail always use this method or a similar one for maximum security of delivery.

How to Safely Buy a Diamond Online - Part 2 of 3

It is now possible to save 40% to 60% by purchasing a diamond engagement ring from an online diamond retailer, rather than from a bricks-n-mortar High Street jeweller. Online diamond retailers don't have retail shops, sales staff, large diamond inventories and other associated operating expenses and are therefore able to pass on the cost savings to consumers. Of course, a diamond might be one of the largest one-off purchases made in one's lifetime and so it is understandable that many people may be uncomfortable paying for a diamond before it has been seen and examined. However, as long as the correct research and precautions are taken there should be no reason to be fearful about buying diamonds from Internet diamond merchants. The three most important aspects of the pre-purchase checks that must be carried out are: 1. Assurance that the diamond business is legitimate, 2. Assurance that the payment method is secure, 3. The risk of merchant fraud or failed delivery is mitigated. In part two of this three part series we examine the second aspect which is to be satisfied that your payment details will be secure. Assurance payment details will be secure There a number of assurance companies that will provide an additional level of comfort for online consumers. These companies provide certification that a particular company's website is relatively safe and secure for online purchases. Consumer Protection Accreditation This is an accreditation service which audits an applying online retailer for ethical retailing and best practice data privacy. If the audit is passed the retailer is permitted membership and a unique membership number is provided, which can be added to the retailer's website. This number can then be cross-checked back to the issuing accreditation body to ensure that the retailer is in fact a member, giving confidence to the consumer that an online purchase from that diamond retailer is safer. Examples of these service companies are TRUSTe, Internet Shopping Is Safe (ISIS), SafeBuy, ShopSafe.co.uk, WebTraderUK and TrustUK. Beware of fraudulent operators that have just added the accreditation logo image to their website. A tell-tale sign of this is when the logo is clicked the homepage of the accreditation company's website appears, rather than the legitimate detailed membership page for the retailer website you are purchasing from. Website Verification Service Also known as web seals or trust marks, the website verification services give Internet users information on the data security and trustworthiness of websites. They check whether a website URL address really is authentic or whether it has been hijacked by hackers. Before exchanging sensitive information, such as providing a credit card number, personal identification information or other confidential data, these services typically allow you to check that the site has been verified by the trusted third party company and that the retailer website is using appropriate safeguarding measures against hackers. An actual certified member website will have the logo displayed prominently. When this logo is clicked the page displaying the company's details within the verification company's website should appear. Common providers are ScanAlert/HackerSafe, SquareTrade, Thwate/Verisign, TrustLogo/Comodo, and Trustwatch/GeoTrust. Beware of fraudulent operators that have just added the verification logo image to their website. A tell-tale sign of this is when the logo is clicked the homepage of the verification company's website appears rather than the legitimate detailed membership page or signed security seal for the retailer website you are purchasing from. Secure Socket Layer When making a purchase over the Internet make sure that the order page URL starts with https:// and that there is a small padlock symbol in the bottom right hand corner of the browser window. This means that the data you enter on the page will be more secure from hackers and your payment information will be less at risk. Credit Card Verification (CCV) Service This service is an added protection for online or phone purchases. Since the diamond merchant doesn't actually see the credit/debit card in these situations then it's harder to be sure that the person supplying the card number details is actually the card holder and not someone who just happens to know the credit/debit card number. To address this problem, debit/credit card providers put a three or four digit CCV number on the card (usually on the back of the card on the signature strip) that is not embossed (raised). This number doesn't get printed on sales receipts. Thus someone trying to use the card number fraudulently is much less likely to know this number if they do not have the card in their physical possession. This type of checking device really reinforces the importance of notifying a credit card provider promptly if a debit/credit card is ever lost or stolen so that card can be cancelled. The most common of these services are MasterCard Secure Code and Verified by VISA.

How to Safely Buy a Diamond Online - Part 1 of 3

It is now possible to save 40% to 60% by purchasing a diamond engagement ring from an online diamond retailer, rather than from a bricks-n-mortar High Street jeweller. Online diamond retailers don't have retail shops, sales staff, large diamond inventories and other associated operating expenses and are therefore able to pass on the cost savings to consumers. Of course, a diamond might be one of the largest one-off purchases made in one's lifetime and so it is understandable that many people may be uncomfortable paying for a diamond before it has been seen and examined. However, as long as the correct research and precautions are taken there should be no reason to be fearful about buying diamonds from Internet diamond merchants. The three most important aspects of the pre-purchase checks that must be carried out are: 1. Assurance that the diamond business is legitimate, 2. Assurance that the payment method is secure, 3. The risk of merchant fraud or failed delivery is mitigated. In part one of this three-part series we examine the first aspect which is assuring that the diamond merchant is running a legitimate business. Assurance of legitimacy of diamond businesses Physical Address The physical address of the online diamond retailer should be prominently displayed somewhere within the website. It should give the full street address and postcode. A PO Box is not acceptable. Conduct a search on the full address using Google and make sure that other results are returned that include the name of the business along with that address to check that the physical address is not a bogus one. Landline Phone Number Active & Manned A contact landline phone number should be prominently displayed. Ring the landline number given and make sure that either a salesperson or the proprietor of the business answers and is helpful and knowledgeable with questions about the company and diamonds. Testimonials Available For Inspection All businesses should have records of customer testimonials. Ask if a few of these can be emailed or faxed through for inspection. Company Number Is the diamond merchant's business registered with UK Company House and does it display its Company Registration number? This registration number can be entered through the UK Company House website to check the registered business details of the diamond merchant. If the diamond business is registered then this gives you additional reassurance that it is a legitimate business. If the diamond business is not registered this may indicate the business is being run as a sole proprietorship, or it may indicate that the business is not legitimate. VAT Number Is the business registered for VAT and is the number displayed on the website? If it is then this is another positive indicator that the business is a legitimate and profitable one. The threshold for taxable supplies for VAT registration is �60,000 so most diamond merchants would have the need to be VAT registered. Trade Association Membership There are several jewellery industry associations in the UK. If the diamond merchant that you are considering purchasing from is a member of an association then this gives further assurance of the reputability of that merchant. Some of the most prominent associations are the British Jewellery Association, the Assay Office and the National Association of Goldsmiths. These can all be contacted to confirm any claims of membership. Key Staff Named With Photos Another reassurance of the legitimacy of the business is when key staff members are named and have their photographs displayed within the site.

Synthetic Diamonds - An Extremely Viable Jewelry Alternative

The love of diamonds in our jewelry is a modern phenomenon. It has really only been since the 1930s that diamonds have been so desired as a jewelry stone. And with diamonds came synthetic diamonds. Synthetic daimonds will always be worth considering as an alternative to diamonds whilst real diamonds are so expensive, and synthetic diamonds are so good.

Diamonds have a number of natural qualities. They are, for example, the hardest of any natural product. Synthetic daimonds needed to have similar qualities to compete with the natural product. In jewelry a diamond has beautiful sparkle,and is very hard. Any synthetic diamond that is to compete with the real thing has to exhibit similar qualities. And synthetic diamonds do this admirably.

The first synthetic diamonds were produced in the 1950s in Sweden and then not so long after the synthesis of diamonds was reported a second time by researchers at GE. Even De Beers, the worlds larget producer of natural diamonds experimented with synthesising diamonds and succeeded.

Modern synthetic diamonds range hugely in their quality. Some come very close to real diamonds in their physical properties, and some do not.

There are many synthetic diamonds which do not exhibit anywhere near the qualities of diamonds, and some which come very close.

And there are some sythetic diamonds which can readily be distinguished from diamonds by experts, and some which cannot.

Even glass has been used as an alternative to diamonds and to many yields a reasonable result in costume jewelry. But it can be easily distinguished from real diamonds by anyone who knows what they are doing. Cubic Zirconia is a synthetic diamond which does not stand up for long to inspection by experts.

There are, however, many excellent synthetic diamonds which are so close to real diamonds in their physical properties that they are very difficult to distinguish from real diamonds indeed.

Prime amongst them is Moissanite. One of the newer of the synthetic diamonds, moissanite, is in fact a naturally occurring product, and it is therefore arguable whether it is a synthetic diamond or just a jewelry stone which is very close to diamond in it's qualities. It was first discovered in tiny amounts in a meteor that landed in Arizona in 1893. It was discovered by Dr Henry Moissan, after whom it was named. It has only been recently produced synthetically, because it does not occur in sufficient quantities naturally to be commercially viable, so it was necessary to devise a way to synthesise if it was to be available in jewelry.

Moissanite is extremely close to diamond in it's natural qualities. Whereas diamond is the hardest of all the jewels, rating at 10 on the hardness scale, moissanite is not far behind at 9.25, and harder than other natural jewelry stones such as ruby (9) and sapphire (9) or emerald (7.5)

There are other comparitive scales used to rate jewelry stones. In brilliance, which is a measure of it's refractive index, diamond is 2.42. Moissanite at 2.65 is superior to diamonds, and far outperforms ruby and sapphire at 1.77 and emerald at 1.58

In fire diamond rates at .044, moissanite at .104 ruby at .018 sapphire at .018 and emerald at .014. So again moissanite outperforms diamonds on this scale. Similarly on the scale used to assess luster moissanite outperforms diamonds and the other well known jewelry stones.

So it can be seen that there are very viable modern synthetic diamonds on the market. Many cannot be told apart from diamonds except by the most experienced jewellers, and moissanite cannot be told apart from diamonds by most jewellers without the use of specialised equipment.

And of course synthetic diamonds are available at a considerable cost savings to the real thing. That is why they are synthesised.

Any diamond merchant will tell you that synthetic diamonds are just junk. He is trying to protect his product. The reality is that for many, synthetic diamonds are a very viable alternative to real diamonds and it is highly unlikely that anyone could tell the difference between the two in any type of jewelry. And as the synthetic diamonds are much cheaper than the real thing they are extremely attractive to the jewelry buyer.

And the best amongst all the different types of synthetic diamonds? Moissanite.

Find out more about Moissanite as well as Moissanite Engagement Rings and other types of Moissanite rings at Peter's website, The Magic of Moissanite.