Have you or someone you know - bought a diamond in the past few years?

Jackie012007 wrote: My dad called me tonight and told me about a class-action lawsuit against De Beer's for mining the diamond market by jacking up the prices of diamonds they mine and then provide to the leading jewelry companies. If you have purchased diamonds or diamond jewelry from 1995 until present, from a company OTHER than De Beers, you can submit a claim to the lawsuit. De Beers settled for $295 million dollars, and that money is being distributed to the consumers who were overcharge for the diamonds!

Here is a link to the article on MSN:
http://articles.moneycentral.msn.com/Smart...GetARefund.aspx

And here is a link to file a claim - you can print out a PDF file or do an online claim. If the worth of the diamond is under $10,000, you don't have to submit proof of the worth initially but you may be asked for proof after.
https://diamondsclassaction.com/

The amount you will receive is unknown at this point, but depending on how many people file, if you have jewelry valued between $1-5000.00, the estimated return is 32% of your purchase price.

I thought this was notworthy and worth passing on to you all!!!

amynicole21 replied: We've never bought from DeBeers, but it doesn't surprise me at all to know that they've jacked their prices up. I've heard that most jewelry is sold at a 60% profit or more anyway. Maybe we'll look into the suit.

Hillbilly Housewife replied: Sweet!!

We've bought a few things over the years.

grandma replied: We've bought two rings and two pairs of earrings...

Our Lil' Family replied: But how do you find out if they came from DeBeers or not? MOST diamonds come from them.

luvmykids replied:
If you bought a piece from a wholesaler who has their own store, there is a chance it didn't...my wedding ring was custom made by a very small jeweler and when I called to ask them about this I was told many of those smaller shops DO NOT buy from DeBeers...that small guy vs the big guy thing.

Hillbilly Housewife replied: The big stuff I always buy from a big guy... so chances are what I have are DeBeers. I'm not going to blow 2K on a ring at some small family owned business that could go out of business next month, I'm going to stick with the big guy who'll be around for decades.

luvmykids replied: Some of the little guys are amazingly successful....the woman who made my ring took the business over from her dad, who took it over from his dad....their family has had the same store for over 30 years. Not only that, but I got the exact stone I wanted for about $4K less than at a store

A&A'smommy replied: thanks for letting us know!!

Does anyone know how to find out where your diamond came from?? Jeremiah got my engagement ring from Zales

mckayleesmom replied: Well...mine is a DeBeers. But I would never sue them...I love my ring...Its priceless

Hillbilly Housewife replied: Just cuz my jewellery is priceless, doesn't mean I don't want like 32% of it's value!

Jackie012007 replied: anyone who bought diamond jewelry from anywhere OTHER than straight from DeBeers is eligible. Most of the diamonds on the market are mined by DeBeers - what they were doing is mining them, jacking up the prices and then selling the raw diamonds to other jewelry buyers (ie Zales, Kay etc.) , and then the prices in their DeBeer's stores were at the price diamonds should have been. Esentially they destroyed any competition they could have had, and drove the consumers to them because they had the lowest prices.

Chances are, most of us have a DeBeer's diamond, but if you didn't buy it directly from De Beer's, then you are eligible.

Basically they screwed all the other diamond buyers/sellers and you ended up paying more than you should have.

Does that make more sense?

Calimama replied:
I just choked on my breakfast. Too funny.

Cece00 replied: You should all remember that depending on how many ppl join this suit, you likely will get very little. You can get up to 32% (or whatever percentages) at MOST. But if 1 million ppl join the suit, you wont get much of anything. I just dont want anyone thinking they are getting hundreds or thousands back & being surprised. The only ppl who really make any $ on class action suits are the lawyers

Hillbilly Housewife replied: nah total of my eligible jewellery would be about 7000... not worth the hassle really....as no individual piece is worth more than 2K.