Today Is The Last Day To Join The DeBeers Diamond Class-Action Settlement

If you bought a diamond between January 1, 1994 and March 31, 2006, today is the last day to join the DeBeers class action settlement. It doesn’t matter whether or not the diamond was bought from DeBeers, the diamond could have been bought from anywhere. The lawsuit contends that DeBeers uses its monopoly over most of the world’s diamond mines to artificially inflate the price of diamonds and engages in other anti-competitive behaviors as well. It’s expected that around $135,432,500 will be divided amongst all the eligible consumers. You can file claims online here.

(Thanks to Michael!)
(Photo: clagnut)

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  1. jmsbmck says:

    D’oh! You’re diluting my share Ben!!

  2. KassiaIdomeneus says:

    $135,432,500
    Class Action?
    More like, 135,430,000 will go to the lawyers and 2500 will be
    distributed among debeers customers.

  3. Zaos says:

    and how would you know if your diamond was from debeers? or would that be their problem disproving the fact that it is?

  4. timmus says:

    Read this as “around $135,432,500 will be divided amongst all the [135 million] eligible consumers.” And yeah, the attorneys will need to get their 90% cut. Maybe we need a class action against the attorneys.

  5. Thanks for the link. Maybe I’ll get a check, maybe not. Good upside, no downside (I hope)

  6. wwwhitney says:

    Thanks for the heads up Ben! I had no idea about this!

  7. homerjay says:

    Ooh! I can’t wait to get my check for 50 cents!

  8. MonkeyMonk says:

    @homerjay: Sorry . . . no checks for under $10 will be mailed due to “excessive administrative costs.”

    So what happens if they determine the claim for everyone to be only $5? Do they just keep all the money?

  9. savvy9999 says:

    I put in for a fat (and 100% true) claim, but I doubt if I’ll ever see a thin dime. Whatevah.

  10. @MonkeyMonk: Salami slicing FTW.

    “They did it in Superman 3. It’s really pretty simple.”

  11. BlondeGrlz says:

    @Zaos: Your diamond doesn’t have to be from DeBeers. You just had to buy one between the specified dates. I’m not planning on getting anything because of lying liars who lie.

  12. @savvy9999: THIS. $1750 for an anniversary ring in 1999. Doubt I’ll see a penny.

  13. SlappySquirrel says:

    I really don’t care if the consumers get much money out of it as long as the company PAYS lots of money.

    It’s the deterrent effect I’m after, not reimbursement.

  14. ucdcsteve says:

    The lawyers do get their share, and but no greater than 25%:

    (From the site)

    “You do not have to pay Class Counsel. They will ask the Court to approve the payment of their fees and reimburse their expenses in these lawsuits. Class Counsel will ask the Court for an award of attorneys’ fees in an amount no greater than 25% of the Settlement Fund. Class Counsel will also ask the court for a payment to each of the named plaintiffs based on their contributions to the litigation. The amounts that the Court approves will be paid out of the Settlement Fund.”

  15. ucdcsteve says:

    …Forgive the “and but”. It’s still early enough my internal grammar check didn’t work.

  16. BloggyMcBlogBlog says:

    @ucdcsteve: 25% of $135 million is still $33 million.

  17. NotATool says:

    @MonkeyMonk: This is what I think will happen too.

    Many lying liars will file claims or trumped up claims. No documentation required, right? What a joke.

    Too many claims will be filed So many claims filed, such that most everyone’s payout will end up being under $10.

    Since they aren’t sending out checks under $10, no checks for people like you and me.

    I think it’s safe to assume that the laywers will end up keeping it all.

    Bastards.

  18. cmdrsass says:

    @SlappySquirrel: $135 million will not deter deBeers given its enormous revenues. They probably have that much in the couch cushions down at corporate HQ. $135m is a minor inconvenience.

  19. heavylee-again says:

    It doesn’t say if only white diamonds are included. I purchased both white and black diamonds during that time period.

  20. Okaasan says:

    Thanks for the reminder! I’ll let you know what I get, if anything.

  21. Coelacanth says:

    @BloggyMcBlogBlog: Call me naive, but attorneys who can prove that DeBeers monopolised the diamond industry and persuade a judge to agree more than deserve their $33 million share in legal fees.

    Next, maybe that will inspire other class-action litigation go after conglomerate collusion wherever it exists and establish some consumer-friendly legal precedents.

  22. fuchikoma says:

    Never bought a diamond, never plan to unless it’s manmade. Those guys are on par with comic book supervillains, but at least they’ve stopped buying outside diamonds and seem to be TRYING to improve. Mind you, they pretty much own Africa/the natural diamonds of the world.

  23. Here’s my guess based on nothing but speculation and conjecture. Basically, if you spent less than $10,000 on diamonds, you will not get a settlement for now. I don’t think anyone is going to get a settlement if they haven’t provided documentation. They are going to take care of the big spenders first, who have to provide documentation. Then, they will see what’s left over and probably ask us poor folk for proof if it’s worth distributing.

  24. LionelEHutz says:

    I want my two dollars !!!!

  25. nequam says:

    My guess is that most people who purchase jewelry or loose diamonds in the $thousands probably have the items scheduled on their homeowners insurance policies and should have little trouble proving their claims.

  26. chucklebuck says:

    For anyone who’s filled out the form: do you need the exact amount of the appraisal or purchase price? I know the purchase price (though who knows if I can find the receipt), but I don’t know the appraisal value (which is actually well over the purchase price in my case).

  27. cmdrsass says:

    @chucklebuck: Purchase price. As everyone knows, appraised value tends to be grossly inflated.

  28. chucklebuck says:

    @cmdrsass:

    Thanks. I figured that was probably the case. I have no idea if I can even dig up the receipt for my wife’s engagement ring – that was 10 years ago. I know I don’t need it to file a claim, but if they ask for it and I can’t find it, dealing with the “civil or criminal penalties” would be a pain.

  29. loueloui says:

    I bought my wife an engagement ring, a wrap, and my ring all in the last couple of years. Maybe I will get something out of it. I got an amazing deal on each, confirmed by a local jeweler.

    If anyone wants to know how to buy a fantastic ring for very little, try Ebay. I bought from an established jeweler with a physical address, who was just setting up their shop online. We got a 1.43 ct round solitaire VS1, F color, certified, for about $6K. It appraises for $15K. The setting was a little plain, but hey we saved enough to pay for our entire honeymoon.

    Whatever you do stay away from those crooks at Jared. They were easily twice as expensive as anyone else for similar quality pieces. I guess they have to pay for all of those annoying ads somehow.

  30. ucdcsteve says:

    @BloggyMcBlogBlog: I never said I agreed, but it isn’t 90%. Lawyers definitely do win the class-action game hands down, even lawyers for the defendants. They get paid no matter. Still, it’s nice the see at least the lawyer fees were capped – albeit at an absurd level.

  31. ucdcsteve says:

    @chucklebuck:
    COMMONLY ASKED QUESTIONS AND ANSWERS

    Basic Information

    1. What are the lawsuits about?

    2. Has the Court ruled on Plaintiffs’ claims

    3. What is a class action lawsuit?

    4. Why is there a Settlement of the lawsuits?

    5. When will the Court decide whether to approve the Settlement?
    Who is Part of the Settlement

    6. How do I know if I’m a Class Member and part of the Settlement?

    7. What is a Diamond Product or a Gem Diamond?

    8. How do I know if I am located in the U.S.?

    8a. What U.S. states and territories are included in the Settlement?

    9. Are there any exceptions to being included in the Settlement Classes?

    10. Can I be a member of more than one class or subclass?

    11. Are purchases made from a De Beers store covered by this Settlement?

    12. What do I have to do to remain a Class Member?

    13. What if I am still not sure if I am part of the Settlement?
    The Settlement Benefits

    14. What does the Settlement provide?

    15. How will the $295 million Settlement money be allocated to Class Members?
    How to Get a Settlement Payment

    16. How do I get a payment from the Settlement?

    16a. Can I file on behalf of a claimant who died prior to October 1, 2007?

    16b. Do I include taxes paid as part of the purchase price?

    16c. Should I hire someone to help me file a claim?

    16d. Earlier in the year (prior to December 2007) I received what I thought was a claim form from another company and have already filled out and returned that form to the other company. Was the form I filled out a valid claim form?

    17. What are the deadlines for me to submit a claim?

    18. Do I need to send in proof of my diamond purchases when I submit my claim?

    19. How much will my payment be?

    19b. How much will a Consumer payment be?

    20. Will I have to pay taxes on my payment?

    21. What should I do if I move after I submit my Claim Form?

    22. What if I received a check, but it was then lost or destroyed or expired?

    23. I received a check in the mail, but it was made out incorrectly. How can I get it reissued?

    24. I want to give the check back. Who should I send it to?

    25. Am I giving anything up in return for my payment?
    Your Legal Rights and Choices

    26. What are my legal rights and choices if I am a Class Member?

    27. Can I exclude myself from the Class and the Settlement?

    28. If I am a member of more than one Class or Subclass and want to be excluded from the Settlement, do I have to separately exclude myself from each class and subclass?

    29. Can I tell the Court if I do not like the Settlement?

    30. Can I object after the Fairness Hearing has occurred?

    31. What is the difference between objecting and excluding myself?

    32. Can I attend or speak at the Court’s hearing on the Settlement?

    33. What happens if I do nothing at all?
    Who Represents You

    34. Do I have a lawyer in these lawsuits?

    35. How will Class Counsel be paid?

    36. Can I get my own lawyer?
    Getting More Information

    37. Are more details about the lawsuit and Settlement available?

    Corrected Reseller Claim Form

    38. Why did I get another Reseller Notice and claim form?

    39. I already submitted my claim. Do I need to fill out a new claim?

    40. I already split out my Mixed Diamonds and Gemstones versus Jewelry Containing Diamonds Only purchases on the original claim form. Do I still need to submit this form?

    41. What if I do not submit the Corrected Reseller Claim Form?

    42. I already submitted documentation with the original claim. Do I need to submit my documentation again?

    43. What if I do not resubmit my documentation with the Corrected Reseller Claim Form?

    44. Why am I allowed to submit claims only for a two-year period?

    Basic Information

    1. What are the lawsuits about? (top)

    Several class-action lawsuits were filed asking for money damages on behalf of diamond purchasers. The lawsuits also asked that the defendants stop certain business conduct. The lawsuits claim that the largest suppliers of diamonds in the world-De Beers S.A. and its associated companies-violated antitrust, unfair competition, and consumer-protection laws by monopolizing diamond supplies, conspiring to fix, raise, and control diamond prices, and disseminating false and misleading advertising. De Beers and the other companies deny they violated the law or did anything wrong. They also say that because they do not do business in the United States, the courts in the United States do not have authority over them.

    The Court in charge of most of the lawsuits is the U.S. District Court for the District of New Jersey. The names of the main lawsuits are: Sullivan, et al. v. DB Investments, Inc., et al., Civil Action No. 04-CV-2819 (SRC) (D.N.J.); ANCO Industrial Diamond Corp., et al. v. DB Investments, Inc., et al., Civil Action No. 01-CV-4463 (SRC)(D.N.J.); and British Diamond Import Company v. Central Holdings Ltd., et al. Civil Action No. 04-CV-4098 (SRC) (D.N.J.).

    The people and companies that sued are called the “Plaintiffs,” and the companies they sued are called the “Defendants.” The Defendants in the lawsuits are: De Beers S.A., De Beers Consolidated Mines, Ltd., De Beers Centenary A.G., De Beers A.G., Diamond Trading Company, Ltd., DB Investments, Inc., CSO Valuations A.G., Central Selling Organization, and Central Holdings Ltd.

    For more details about these lawsuits, please read the long forms of the Direct and Indirect Purchaser Notices.

    2. Has the Court ruled on Plaintiffs’ claims? (top)

    The courts where the lawsuits were filed have not made any determinations regarding whether the Defendants have done anything wrong. If the lawsuits are settled, the Court will not rule on any of Plaintiffs’ claims or on Defendants’ defenses to those claims, and the lawsuits will be dismissed. This means the Class Members may not sue any Defendant ever again about any past, present or future claims based on or related to the conduct covered by the lawsuits.

    3. What is a class action lawsuit? (top)

    In a class action lawsuit, one or more people or businesses-called the named plaintiffs-sue on behalf of other people or businesses that have similar claims. All of these people and businesses together are a “Class,” and individually each is a “Class Member.” One Court decides all the issues in the lawsuit for all Class Members, except for those who exclude themselves from the Class (called “opting-out”). A primary benefit of having a class action is that each individual or business will not have to pay for and spend time bringing its own lawsuit.

    In these lawsuits, the named plaintiffs are individuals and businesses that purchased diamond products. They have brought these cases on behalf of themselves and other individuals and businesses that purchased diamond products (See Question 6).

    4. Why is there a Settlement of the lawsuits? (top)

    There have not been any trials of the lawsuits, and the Court has not decided who is right or wrong. Instead, the Plaintiffs and Defendants agreed to a Settlement on behalf of Class Members. Both sides negotiated the Settlement for several months with the help of professional mediators. By reaching a Settlement, they avoid the risks and costs of further litigation, including a trial, and Class Members have the opportunity to receive money and other Settlement benefits. You can read the entire Settlement Agreement by clicking here.

    Please remember that if you are a Class Member, you have legal rights and choices to make before the Court decides whether to approve this Settlement. These rights and choices are explained on this web site and in the Settlement Notice, which you can read by clicking here. You can also obtain the Notice by calling the Diamonds Claims Administrator toll free at 1 800 760 5431, or writing to: P.O. Box 9432, Minneapolis, Minnesota 55440-9432.

    5. When will the Court decide whether to approve the Settlement? (top)

    The Court will hold a hearing on the Settlement-called the “Fairness Hearing”-at 10:00 a.m. on April 14, 2008. The Fairness Hearing will be in Courtroom 8, United States Post Office & Courthouse Building, Federal Square, Newark, New Jersey 07101. At the Fairness Hearing, the Court will consider whether the Settlement is fair and adequate, and will listen to any supporting or objecting statements that are made about the Settlement. The Court will also consider the Class lawyers’ request for attorneys’ fees and reimbursement of expenses.

    The date of the Fairness Hearing may change without additional notice to Class Members, so it is a good idea to check this web site periodically for updated information.
    Who is Part of the Settlement

    6. How do I know if I’m a Class Member and part of the Settlement? (top)

    To see if you qualify to receive money from the Settlement, you first need to make sure you are a Class Member. The Court has said that two types of classes are included, an indirect purchaser class and a direct purchaser class:

    1. The “Indirect Purchaser Class ” includes businesses and individuals located in the U.S. who purchased one or more “Diamond Products” from January 1, 1994 to March 31, 2006, but excludes any diamonds purchased directly from any of the Defendants or their competitors. (Please read Questions 7 and 8 below for a definition of “Diamond Product” and an explanation of what it means to be “located in the U.S.”) The Indirect Purchaser Class has two different kinds of members or “subclasses”:
    1. Companies and people who purchased Diamond Products for resale, such as jewelry companies, department stores, and diamond jewelry manufacturers. This is the Indirect Purchaser “Reseller Subclass.”
    2. People and companies who purchased Diamond Products for personal use, including to give as gifts. This is the Indirect Purchaser “Consumer Subclass.”

    2. The “Direct Purchaser Class” includes companies and individuals located in the U.S. who, from September 20, 1997 to March 31, 2006, purchased one or more “Gem Diamonds” directly from a Defendant or a competitor of a Defendant (including any company controlled by or affiliated with Defendants or Defendants’ competitors). (Please read Questions 7 and 8 below for a definition of “Gem Diamond” and an explanation of what it means to be “located in the U.S.”) The Defendants’ Diamond Mining Competitors include ALROSA, Rio Tinto, BHP Billiton, and Argyle. A list of the Defendants’ Diamond Mining Competitors and their affiliates can be found in Appendix A in the Notice. Sightholders, for the period they had sightholder status, De Beers, De Beers’ Diamond Mining Competitors and their affiliates are excluded from the Class.

    The vast majority of people and companies who are in this Settlement are part of the Indirect Purchaser Class. Relatively few people or entities purchased directly from De Beers, its affiliates, or their competitors. You should also refer to Question 9 to see if you fall within one of the exceptions to being included in the Settlement Classes.

    7. What is a Diamond Product or a Gem Diamond? (top)

    To be a member of the Indirect Purchaser Class (either the Consumer Subclass or the Reseller Subclass), you must have purchased a Diamond Product. A Diamond Product includes:

    * Gem Diamonds: A Gem Diamond is a diamond of such color, clarity, and quality that it can be used in jewelry. It can be a “Rough Diamond”, which is uncut (or only partially cut) and unpolished, or a “Polished Diamond”, which is cut and polished. Man-made or industrial use diamonds are not Gem Diamonds.

    * Diamond Jewelry: Diamond Jewelry is any decorative piece, such as a ring, necklace, earring, cufflink, watch, or pen, containing one or more Gem Diamonds. A decorative piece that contains other gems is still considered Diamond Jewelry as long as it has at least one Gem Diamond.

    * Other Diamond Products: Diamond Products is a term used to refer collectively to Gem Diamonds, Diamond Jewelry, or any other product containing one or more Gem Diamonds.

    To be a member of the Direct Purchaser Class, you must have purchased a Gem Diamond, as defined above, directly from a Defendant or a competitor.

    8. How do I know if I am located in the U.S.? (top)

    To be included in the Settlement you must be “located in the U.S.” The Settlement gives slightly different meanings to the term “located in the U.S.”, depending on whether you purchased directly from a Defendant or a Defendant’s competitor (in which case you may be a member of the Direct Purchaser Class) or from another source (in which case you may be a member of the Indirect Purchaser Class).

    For purposes of the Indirect Purchaser Class, you are considered to be “located in the U.S.” if you meet two requirements. First, you must have purchased a Diamond Product in the U.S. between January 1, 1994 and March 31, 2006. A U.S. purchase is any purchase where the Diamond Product was delivered to you in the U.S. and includes purchases made from establishments in the U.S., as well as purchases from establishments abroad that were delivered to you in the U.S.. Second, you must have resided in the U.S. on October 1, 2007. For individuals, this means that you maintained a place of residence in the U.S.; for companies and other business entities, this means that you were organized and existed under the laws of any state or territory in the U.S. or maintained a place of business in the U.S.

    For purposes of the Direct Purchaser Class, you are considered to be “located in the U.S.” if you either: (1) resided in the U.S. between September 20, 1997 and March 31, 2006; or (2) purchased a Gem Diamond in the U.S. (i.e., purchased for delivery to the U.S.) between September 20, 1997 and March 31, 2006. However, you may only submit claims for Gem Diamonds purchased in the United States.

    8a. What U.S. states and territories are included in the Settlement? (top)

    For the purposes of the Settlement, the United States includes all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

    9. Are there any exceptions to being included in the Settlement Classes? (top)

    Yes. You are not a member of either the Direct or Indirect Purchaser Class if:

    * You are one of the Defendants or an affiliate of a Defendant, or if you are an employee, officer or director of a Defendant.
    * You are a business in which a Defendant owns a controlling interest.
    * You are a federal, state or local government entity.
    * You are the judge or other judicial officer overseeing this Settlement, or you are part of the judge or judicial officer’s family or court staff.
    * In the Direct Class, if you are one of the Defendants’ Diamond Mining Competitors.

    In addition, if you are or were a De Beers or DTC Sightholder, you cannot recover for any direct purchases made from a Defendant, an affiliate of a Defendant, or a Defendants’ Diamond Mining Competitor during the time period when you were a Sightholder. However, you can recover as a member of the Indirect Purchaser Class for purchases made from other sources during that time.

    10. Can I be a member of more than one class or subclass? (top)

    Yes, you can qualify for any class or subclass as long as you meet all the requirements of that class or subclass. You cannot, of course, recover from more than one Settlement fund for the same purchase.

    11. Are purchases made from a De Beers store covered by this Settlement? (top)

    If you purchased a loose diamond from a De Beers store between September 20, 1997 and March 31, 2006, you are eligible to make a claim for that purchase as a Direct Purchaser, using the Direct Purchaser Claim Form.

    However, if you purchased Diamond Jewelry (anything other than a loose diamond) from a De Beers store, this purchase is not covered by the Settlement and you are not eligible to make a claim for such purchase.

    12. What do I have to do to remain a Class Member? (top)

    You will automatically be considered part of the class unless you opt-out. However, to receive any money from the Settlement Fund, your Claim Form must be completed online By May 19, 2008 or if you are mailing it to the Diamonds Claims Administrator, postmarked no later than May 19, 2008.

    13. What if I am still not sure if I am part of the Settlement? (top)

    Please call the Diamonds Claims Administrator at 1-800-760-5431.
    The Settlement Benefits

    14. What does the Settlement provide? (top)

    The Settlement has two parts. First, the Settlement provides that the Defendants will pay a total of $295 million for the benefit of Class Members plus up to $7 million for the costs of providing notice of the Settlement terms to the Indirect Purchaser Class.

    Second, the Settlement prohibits the Defendants from engaging in certain conduct that violates state and federal antitrust laws, and requires the Defendants to submit themselves to the jurisdiction of the court for purposes of enforcing these and other provisions of the Settlement. This agreement is contained in an order of the Court called an “Injunction.” Specifically, the Injunction prohibits the Defendants from entering into certain agreements with Sightholders and entities engaged in the mining or production of Rough Gem Diamonds to fix prices or restrict supply. The Injunction also prohibits the Defendants from making certain open market purchases in the United States. You can see all of the Injunction requirements by clicking here

    In exchange for the Defendants’ agreement to obey the Injunction and their payment of $295 million, all persons who do not exclude themselves from the Settlement Classes (see Question 6) will release the Defendants from any and all past, present and future claims that arise out of or are related to the claims in the Lawsuits. This means that if you stay in the Classes, you can never sue the Defendants again for these claims.

    Attorneys’ fees, cost of administering the Settlement, and other costs will be paid out of the Settlement Funds. The remaining Settlement Funds will be distributed on a “pro rata” basis to eligible Class Members who submit valid and timely Claim Forms. Class Members who fail to complete and timely submit a valid Claim Form, in accordance with the instructions accompanying the form, will not be able to receive a distribution from the Settlement Funds, but will nonetheless be subject to and be bound by all the provisions in the release and the final judgment entered by the Court.

    15. How will the $295 million Settlement money be allocated to Class Members? (top)

    The Settlement provides that $22.5 million will be paid to Direct Purchaser Class Members who submit valid claims, and $272.5 million will be paid to Indirect Purchaser Class Members who submit valid claims.

    The Settlement also appoints retired U.S. District Court Judge Alfred E. Wolin to oversee the process of determining how to divide the $272.5 million Indirect Purchaser fund between members of the Consumer and Reseller Subclasses. Different lawyers represent the interests of the two Subclasses. These lawyers studied many documents and hired separate expert economists to study the diamond market and to help determine a fair allocation of the $272.5 million. The lawyers and the experts presented their findings to Special Master Wolin. Based on this information, the Special Master recommended the following allocation:

    * $135,432,500 for the Consumer Subclass

    * $137,067,500 for the Reseller Subclass

    At the Fairness Hearing the Court will consider whether the allocation is fair and adequate.
    How to Get a Settlement Payment

    16. How do I get a payment from the Settlement? (top)

    No matter what Class you are in, you must complete and submit the appropriate Claim Form by May 19, 2008, to receive a payment.

    To determine which Claim Form you should complete, please review Question number 6 above to determine which Class you are in, then choose the correct Claim Form (which you can download and print by clicking on the underlined link):

    * If you are in the Indirect Purchaser Consumer Subclass, complete the Consumer Claim Form. When you go to the Consumer Claim Form link on this Web site, you will have two options. You can either download, print, and then mail your completed Claim Form, or , you can complete and submit your claim online. Instructions are provided at this link.
    * If you are in the Indirect Purchaser Reseller Subclass, complete the Reseller Claim Form. You can download and print this Form. Instructions are provided in the Claim Form .
    * If you are in the Direct Purchaser Class, complete the Direct Purchaser Claim Form. You can download and print this Form. Instructions are provided in the Claim Form.

    You can also obtain the appropriate Claim Form by calling the Diamonds Claims Administrator toll free at 1-800-760-5431, or writing to the Diamonds Claims Administrator at: P.O. Box 9432, Minneapolis, Minnesota 55440-9432.

    ** Please remember that you may be a member of more than one Class. If this is the case, you will need to complete a Claim Form for each Class.

    16a. Can I file on behalf of a claimant who died prior to October 1, 2007? (top)

    Yes. Please provide copies of documents that indicate your authority to act on behalf of the deceased claimant with your claim submission.

    16b. Do I include taxes paid as part of the purchase price? (top)

    Include only the cost of the diamond or diamond jewelry. Any other expenses, such as state or local taxes paid, shipping and handling, service agreements, or insurance contracts, should not be included in the cost of your diamond purchases.

    Appraisal is part of the insurance process, I believe, so purchase price.

  32. ucdcsteve says:

    Crap, it posted the whole paste, not just your one question about purchase price. Sorry, all, it didn’t show in the preview.

  33. Concerned_Citizen says:

    @loueloui: You bought burnt toast for 6k because someone claimed it was worth 15k? You need to understand how the price of items work. At a retail level you pay double what the store paid. So your 6k diamond is really only worth 3-4k. And in the end it’s just a chunk of shiny carbon. A cheaper and just as shinier crystal would have made your honeymoon way better.

  34. Bender says:

    Nice. I’m glad I saw this. $4000+ engagement ring + $2200 aniversary band.

    I’d never heard of this lawsuit before today. Hopefully most people are even more unaware than I was and miss out on the chance to submit a claim.

    Cruel, but I want ‘free money’

  35. Tonguetied says:

    Well I submitted my online claim months ago and have not received word one or penny one back on this.