Guide to buying a diamond

There are many traps for the unwary, such as bogus sales, "blood diamonds", and overpricing.
 
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  • Updated:26 May 2008
 

01 .All that glitters

diamond ring

CHOICE’s investigation has uncovered traps for consumers when purchasing expensive jewellery.

On average, Australian couples spend around $5000 on an engagement ring. But it’s nearly impossible for an ordinary person to judge the real value of a diamond. For example, hard-to-detect artificial treatments and small variations make a huge difference to its value.

  • The ACCC uncovers many bogus 'sales'. For example, in February this year the Federal Court held that discount advertising from Prouds Jewellery Pty Ltd was misleading, and therefore in breach of the Trade Practices Act. A gold bracelet advertised as "Was $249, Now $99" had never been offered for $249 by Prouds.
  • Traders sometimes try to pass off fake goods as genuine material. For example, the SA Office of Consumer and Business Affairs caught a trader who claimed to sell high-quality gold jewellery from a shopping centre stall. In fact, the jewellery was gold-plated with a total gold content of less than 1%.

For advice on how to make sure your jewellery is covered if it gets stolen, see our report on Insuring jewellery.

Did someone die for your diamond?

The 2006 movie Blood Diamond highlighted the role diamonds have played in human rights abuses and wars. So-called 'conflict diamonds' were sold to help fund wars in Sierra Leone, Angola and the Democratic Republic of Congo, which killed an estimated 3.7 million people. Today, conflict diamonds from rebel-held areas in Cote d’Ivoire are thought to still find their way to the international diamond market.

In 2002, an international certification scheme called the Kimberly Process was launched to end the trade in conflict diamonds. Australia participates in this scheme. Ask your jeweller for details and a copy of their company’s policy on conflict diamonds — any jeweller worth their salt can guarantee their diamonds are conflict-free.

Fair trade diamonds

Exploitation in the precious stone industry is also rife — for example, labourers in Sierra Leone can be paid only around US$1 per day. Development of fair trade standards has begun — it’s high time profits from diamonds filtered down to workers in countries they’ve helped devastate.

Please note: this information was current as of May 2008 but is still a useful guide to today's market.


 
 

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jelise's opinion:

  • Member since: 30 Sep 14
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6 HOURS AGO | Was interested to see your number 1 pick being Electrolux again. I followed your recommendation from your oven reviews several years ago and purchased an Electrolux EPEE63CS for approx $2200. I do a lot of baking and was impressed by the review.
On first use the oven door wouldn't shut after oven reached a certain temperature. A month later the oven was replaced.
After three years, the oven has stopped working and I find I now need a new powerboard at an estimated cost of $550. I was hoping a $2200 initial investment would have given me more than 3 years before a major repair.
Unfortunately from my experience I would find it difficult to recommend an Electrolux oven, and would be very wary of purchasing another.

 
 
 
 
 

 
 

Lindy's opinion:

  • Member since: 05 Sep 14
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25 DAYS AGO | Beware choosing the Miele 900cm wide oven, bottom of that range (there are only 2 to choose from). For its high cost- over $6000, it has NO oven timer!

 
 
 
 
 

 
 

Carol's opinion:

  • Member since: 25 Nov 13
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1 MONTH AGO | Disappointed that with 66 ovens tested, 35 have been discontinued models, and no updates. Also only 9 newly tested models. Very difficult to wade through the paperwork. Carol

 
 
 
 
 

 
 

Graer's opinion:

  • Member since: 04 Aug 14
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1 MONTH AGO | Do you think you will be testing Asco ovens and rangehoods in the near future?

 
 
 
 
 

 
 

terry's opinion:

  • Member since: 22 Jul 14
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2 MONTHS AGO | I am trying to look for info on the neff oven slide & hide B44M42N3GB just wondering if it recommended by choice thanks Terry

 
 
 
 
 

 

jelise's opinion:

  • Member since: 30 Sep 14
  • 1 Comments
  • 0 Replies
0
 
User Profile

6 HOURS AGO | Was interested to see your number 1 pick being Electrolux again. I followed your recommendation from your oven reviews several years ago and purchased an Electrolux EPEE63CS for approx $2200. I do a lot of baking and was impressed by the review.
On first use the oven door wouldn't shut after oven reached a certain temperature. A month later the oven was replaced.
After three years, the oven has stopped working and I find I now need a new powerboard at an estimated cost of $550. I was hoping a $2200 initial investment would have given me more than 3 years before a major repair.
Unfortunately from my experience I would find it difficult to recommend an Electrolux oven, and would be very wary of purchasing another.

 
 
 
 
 

 
 

Lindy's opinion:

  • Member since: 05 Sep 14
  • 1 Comments
  • 0 Replies
0
 
User Profile

25 DAYS AGO | Beware choosing the Miele 900cm wide oven, bottom of that range (there are only 2 to choose from). For its high cost- over $6000, it has NO oven timer!

 
 
 
 
 

 
 

Carol's opinion:

  • Member since: 25 Nov 13
  • 1 Comments
  • 0 Replies
0
 
User Profile

1 MONTH AGO | Disappointed that with 66 ovens tested, 35 have been discontinued models, and no updates. Also only 9 newly tested models. Very difficult to wade through the paperwork. Carol

 
 
 
 
 

 
 

Graer's opinion:

  • Member since: 04 Aug 14
  • 1 Comments
  • 0 Replies
0
 
User Profile

1 MONTH AGO | Do you think you will be testing Asco ovens and rangehoods in the near future?

 
 
 
 
 

 
 

terry's opinion:

  • Member since: 22 Jul 14
  • 1 Comments
  • 0 Replies
0
 
User Profile

2 MONTHS AGO | I am trying to look for info on the neff oven slide & hide B44M42N3GB just wondering if it recommended by choice thanks Terry