While shopping undercover at some of Canada’s top jewellers, Marketplace journalists came across sales pitches filled with false claims and inconsistent diamond grading reports, all of which could lead consumers to question whether they got what they paid for.
Last year, Canadians who purchased a diamond ring spent on average just over $4,300, according to Edahn Golan Diamond Research & Data Ltd. Marketplace journalists posed as secret shoppers to capture the sales pitch on hidden camera at three of Canada’s most popular value retail jewelry chains: Peoples Jewellers, Ben Moss Jewellers, and Michael Hill, visiting three locations for each retailer in Ontario and Alberta.
Each store sold diamond rings backed by grading reports with specifications for each of the so-called four Cs — cut, colour, clarity and carat. Employees often touted these documents as ironclad, with very rare discrepancies.
“Maybe one in maybe 100 cases … a colour might be off slightly,” said a sales representative at a Michael Hill location. However, industry experts say that’s not the case, and inconsistencies can be found between reports provided by different grading labs, which can have significant impacts on a diamond’s independent appraisal value.
For the rest of this article: https://www.cbc.ca/news/business/marketplace-diamond-investigation-1.6750389