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Was This The Bait And Switch? Feeling Duped


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I recently submitted my paypal info to purchase a Diamond on a 5 Star Rated Rolex Online Shop. They are new to gems but I figured I could trust them as they had such wonderful things said about them on their Rolex venture and they are in California, so not out of the country.  


Well, I purchased a 1.4 Carat Round Loose Diamond Color: G Clarity SI2 for $4,750. (sounded too good to be true) I received an invoice, with a clickable link to the website showing this particular gem and the price as well an email from the company explaining the next steps to secure this gem as mine, then proceeded to pay through my paypal account.


Well the next day, I received notice that they denied my payment through paypal due to a Fraud warning. (never have had a concern in the past) Okay, I called my bank and raised my credit limit for Debit and continued to submit it as a debit card transaction. I received a confirmation code on my end, invoice showing the price as $4,750.  Again that same day I received an email stating that my Debit car was flagged for Fraud on their end of the processing.


Befuddled, I called the company. They explained that their processing company could not confirm my Debit Card. Also, on the same call, they stated that this particular diamond was actually a misprinted price and that they needed to check in to some things and would call me back. 24 hours passed and no one called.


So, I wrote the owner an email explaining this. He called me back the next morning promptly and didn't really listen to me explain that someone told me that it was a misprinted price, he just insisted it was already sold. I asked if he could do some work to find a similar gem at a similar price. Meanwhile the link to this Gem was inop on their site. Later that day the link worked again and the price rose almost $2300.


My Fiancee and I caved and are working to purchased a larger ring, a 1.5 Carat similar in other qualities for now $7,000! I have yet to pull the trigger fully as they are requiring a bank transfer. Any suggestions you have would be much appreciated.  

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Run. Mile. Opposite direction. Catch breath. Run again. Repeat as necessary.


It is possible that everything is "normal" and you are just having an incredible series of bad luck incidents with financial institutions. However, once a bank transfer has left your account, there is no way back. Unless you REALLY trust the seller, do not do this.


You know next to nothing about this diamond (who is calling it G/SI2 or whatever else they are describing the 1.50 as? Why should you believe them?), and the fact that a seller has a good rating (by whom? Why should you believe them?) for selling watches means nothing in terms of their skills and reliability at selling loose diamonds.


Finally, assuming you haven't strayed too far from G/SI2, while there are reliably graded 1.50 G/SI2 for sale at $7k or thereabouts, they are right at the bottom of the range of prices: this means they aren't particularly well cut, the inclusions are highly visible, there is some other issue with the stone (transparency issues, usually) or all three at the same time.

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Sure you're not shopping on craigslist.org?  They used to be fairly reliable, 'til someone chased off all the pimps'n'hos.  After that, never the same -- just garbage. Same thing with bottom-feeding online vendors, esp. ones who self-promote on late-night basic cable.


BTW, you don't have to do what's necessary to get a regular credit card yourself (instead of debit), but there's a world of consumer protections available if you are able to buy with a credit card.  Try to work with a friend who has one.

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