Gem Buyers Beware: Get Rich Quick Scams

(gia.edu) - People’s love of diamonds and other gemstones runs deep. Even the most ancient cultures prized them for adornment and as tangible symbols of wealth. In modern times, the unscrupulous play on people's deep love for gemstones and the notion of a gem’s lasting value. They employ dubious get rich quick schemes – so-called diamond and gem investments – to take advantage of the gullible and scam them. While quality gemstones generally maintain their value if purchased at a fair price and held over a long period of time, scammers tempt buyers by promising get-rich-quick profits or protection for their money in times of economic uncertainty. The “deal” often degenerates and the buyer is left holding greatly overpriced gems. There are several different ways these scammers go about taking consumers’ money. Here are four of the most common get rich quick scams.