Does the diamond match the deal? We put them to the test (Marketplace)

Consumers are sold on a diamond’s four Cs - colour, clarity, cut and carat. But are you getting what you paid for? Marketplace tests three diamonds from popular retail chains to find out. We go undercover as secret shoppers to see how far retailers will go to sell you the sparkle, and reveal what you can trust when it comes to ethics in the diamond supply chain.
#Diamond #Jewelry #CBCMarketplace
Read more: www.cbc.ca/1.6750389
0:00 - Intro
2:37 - Learning the four Cs - colour, clarity, cut and carat
4:26 - Are diamonds a good investment?
7:23 - Diamond re-grading results and comparing reports
13:00 - Conflict-free diamonds and the Kimberley Process
16:32 - Sharing findings with the retailers
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For more than 80 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians.

[@erint5277]

I respect that Ben Moss was willing to participate in an interview and address the results vs. the other 2. Far less shady to answer honestly and own the reality, take the criticism as a learning opportunity. When companies don’t respond or hide behind a short statement it irks me

[@hpnut4ever]

Learning about the grading process was interesting, though I was hoping by the end that there would have been some mention of lab-grown diamonds as alternatives if consumers are wanting to avoid conflict diamonds.

[@pickledragonrebel]

I agree. Second hand is also an option

[@vmitchinson]

Buy Canadian! Simple!

[@somerandy3062]

Most lab diamonds are coming from Indian and China, which both countries use active slavery, so the only difference is they move from one country to another, but the game remains the same.

[@thomasnguyen6144]

I love how informative CBC Market Place is. We need to educate ourselves as consumers. We can be tricked or mislead.

[@ididnotdoit1188]

" Well said, we can not even trust our own Canadian governments

[@riseofazrael]

Market Place continues to be the best part of the CBC.

[@jo-annclaessen]

@@ididnotdoit1188can’t trust cons. Fixed it for you. 😂

[@ididnotdoit1188]

@@jo-annclaessen your an angel from heaven thank you

[@atyus09]

I’m American and I absolutely love watching CBC Marketplace! ❤

[@ic1815]

LOL those three companies’ public relations teams are *DEFINITELY* working this weekend 😂😂

[@bubblewhip382]

This is the most honest corporate executive I have seen.

[@makeracistsafraidagain]

This is more interesting than I expected. My wife is from Thailand and she prefers colored stones but because she is a scientist and is changing gloves all day long she didn’t want a wedding ring. And she’s just not sentimental. Saved me some money. But I said I wanted everyone to know that I had found my life partner. We borrowed rings for the ceremony and then she bought me a ring I liked. I’ve been wearing it since 1980.

[@masaharumorimoto4761]

Charm guy was pretty honest and open, I'm from dartmouth and it warms my heart to know that the Diamond people are genuinely nice back home.

[@seanistheman231]

You gotta respect the guy for doing the interview i honestly trust the company more that they came on

[@somename152]

you need to be careful when getting it resized too. I had a ring that has the stone swapped out when getting resized 😢

[@maudecouillard1807]

Investment? About the resale value, a diamond ring loses a huge part of it's value as soon as it leaves the store. I would've liked to see a segment on them trying to resell the ring or examples of people who actually made money on their investment when selling the thing back. Like the guy said, buy it for the ring, not for it's value. There's no money to be made or invested like in a bank there.

[@imisstoronto3121]

Your second sentence reminded me of the old adage about buying a new car. Which is why I stick to used cars!

[@umbreon741]

Correct. The resale value tanks because the "labor" of making the piece is gone and you're left with raw materials, and more than 50% of the price is labor..

[@TheJennnq]

Ha ha ha, the value is just going up? Nope. Try reselling it. You'd be lucky to get a bargain bin price for it.

[@johnkim163]

The only indication of value is what you can sell it for afterwards. Ask them to put that in writing and see if anyone will stand by that monetary price.

[@JohnSmith-se5js]

The only time you get ripped off buying diamonds, is when you buy diamonds.

[@jptrainor]

The actual 4 C's that sell: Cheap, Crass, Conspicuous, and Collosal.

[@etherity]

Hah!

[@yaheeaalzuhary1607]

For everyone asking where their diamonds are mined, that’s not really a question you should be asking unless the rough diamond went through scans at a credited gemological association, where that specific association lasers a number onto the diamonds, if you buy a Canadian diamond you are going to pay 10-25% more then another diamond with the exact same Grade because here in Canada every diamond has to be laser inscribed

[@anarchylane666]

Labour is also more expensive in Canada so that gets passed down into their price too

[@etherity]

Are Canadian mining conditions good though? Do they exploit the Temporary Foreign Worker program for instance?

[@alexandrevaliquette1941]

@@etherity I've worked for 3 mines in Canada within 2 provinces and 1 territory. I did not saw a lot of foreigner there. On the opposite, I've saw a lot of first nation with the same salary of "white" folks. There is no shame in the Canadian mining as far as I've experience it.

[@johnkim163]

The Diamond industry has perpetuated a myth and scam about the value of diamonds for over a hundred years.

[@ejcash7234]

Based on my experience, used diamond rings have very little resale value. Never understood why women go ga-ga, like female chimps, when they look at a shiny stone. In now way a diamond is an expression of true love or never-ending bliss. This is a scheme developed by DeBeers and the diamond exchange of Antwerp for capital venture.

[@vmitchinson]

Debeers do everything they can to maintain complete control over the marketing of diamonds. One thing they do is collect all the diamonds from everywhere and then mix them altogether. They ship this mixed batch out to the market. This way nobody will ever know where the diamonds came from.

[@stark-tonny]

As my view. The Diamond is valueless,just stones. All cherish it comes from salesman hype and brainwash

[@pjk1714]

The best way to purchase that forever diamond is not at a retailer. Find a credited diamond broker with good ratings. They know where your stone comes from. You can also choose your setting.

[@etherity]

This is what I did. Didn't go with diamonds in the end, though. Topaz and zirconia for me, with my choice of what the ring looked like.

[@franklidgad]

@@etherity Where did you go to find these types of diamonds? (Online or actual store names would be good)

[@netgnostic1627]

I wish you had included Spence. They're the big radio advertisers here where I live.

[@rebeccas6674]

I guess you live in Vancouver/Lower Mainland 😂

[@netgnostic1627]

@@rebeccas6674 Calgary actually. You can't listen to radio for even half an hour without another Spence commercial

[@trentcruise3084]

@@netgnostic1627 I heard China harvest kidney stones from humans, put them into pressure chambers then cut and polish the stones and pass them off as Diamonds.

[@rebeccas6674]

@@netgnostic1627 Didn't know Calgary got annoying Spence commericals too!

[@PotatoesAreMagic]

And Ottawa too! I have to turn the radio off whenever their ad comes on-that's how sick I am of it

[@yiy3429]

I love Marketplace.

[@normacasto8370]

Moissanite is the best 👍

[@danielle1457]

Michael Hill, Kays, Ben Moss etc. You might as well go to Claire’s

[@willkid123]

Why didn’t they do Tiffany’s?

[@cinnamonbits26]

I have never been a fan of diamond's. The only thing I ever spent hundreds on is my gold chain and I pulled out my best sweet words to make sure I didn't pay anywhere near the sticker price.

[@lukecoombs5082]

Sales people have to work with the information they have at the time. It is reasonable to assume that they are selling conflict free diamonds unless they have information to the contrary.

[@liddletoes]

Sales associates can only tell you what they have learned through their training. Associates that are in the business for decades can tell you more of what you need to know.

[@SEm-ir4qw]

@cbcmarketplace why did you nto check Spence diamonds which is known in the diamond industry where the 4 Cs are often not the same

[@peted3637]

I went down the process of learning about diamonds in 2019 when I went to buy an engagement ring. I went to visit the usual chain stores in Aus and was left SO underwhelmed by their offerings. The first one I looked at and handed back right away and asked if it was dirty or something. The lady gave it a clean and handed it back and I took another look. I retorted that it looks like it has been dipped in milk! I get handed progressively more expensive rings and I'm still not impressed. I ask about GIA gradings... "ah... errr... yeah, here's the grading report." It wasn't a GIA report, it seemed to be their own. I walked out and went to two more stores and, again, left after seeing and hearing the same BS. If these diamonds can't even pop with sparkles and flashes in a store with 30 freaking light source points, then walk out! And the money they wanted for them was obscene! I ended up buying a very nice GIA certified stone and getting it set ourselves. This diamond flashes fire and sparkles when out in the sunshine - a single point light source - like crazy. So very happy with it.

[@franklidgad]

What place can you find GIA certified stones?

[@ahbeng888]

GIA and AGS are the only two labs of repute for me with HRD after that and then IGI coming in well after that. All others, that will affect the price I am willing to pay (and that means its a downgrade in price I am willing to pay). But these days, you are better off buying online from reputable sellers (and they are ones also that have stones that are at the upper echelon of cut quality, which will be the major determinant of how the stone will perform in lighting conditions).

[@lw3269]

The biggest suppliers of diamonds hoard them to artificially inflate the prices. Best option it to buy used. Diamonds don't wear out.

[@kcgunesq]

I love how everyone is so concerned with conflict free. It would be great to see an experiment where a young lady is offered two choices. One is a nice 1ct "conflict free" stone and the other is a very nice "conflict included" 1.5ct stone. Offer to sell either at the same price. See which gets picked. My guess is that 90% or better will chose the nicer stone for the same price.

[@think2146]

Take in a ring etc for repairs and how does a reg joe know if the /she even getting back the original?

[@umbreon741]

Go to a store that has a microscope or some other form of magnification to inspect the stone. A reputable place would honestly do everything to protect their business/reputation and be transparent with clients on what they're leaving with them.

[@wickedbird1538]

😮😮if I was buying a diamond today. I would just buy a lab stone.

[@llll-bk6qd]

My diamond has Gia certificate. I bought from usa store d colour clarity IF in Canada don't have IF clarity.

[@ronson6569]

Make a market place for gold chains

[@anttoronto3202]

The best Diamond is the one you like and buy. You’re never selling it anyway. There should be more focus on the marriage, if that’s what you want.

[@jaschan2006]

I am curious what they would have gotten if they did a higher end store like Birks

[@isharma3748]

Nice

[@etherity]

Are Canadian mining conditions good though? Do they exploit the Temporary Foreign Worker program for instance?

[@umbreon741]

Mining is less of an issue, Canadian diamonds cost 15-20% more strictly because it has to go through a certification process. The generic process is the rough diamond gets mined in Canada, then gets sent to some other country to get cut (usually India), then it has to come back to Canada and get certified and laser inscribed to be able to say and sell it as a Canadian diamond.

[@RattPoison80]

Lol I got an ad for a diamond company on this vid

[@hbarudi]

1 carat (at least for diamonds, not sure about other golden jewelry) is 200mg according to the video. This is good to know since searching online gives mixed results about this. The part about unethical labor sources is not limited to diamonds. All the materials you use on a regular basis have been sources by slave labor from around the world.

[@umbreon741]

Carat weight is important, but diameter and proportion relative to carat weight is even more important. Someone could be selling a 1.00 ct stone that appears smaller than it should and vice versa because it wasn't cut properly. An excellent cut 1.00 ct stone should be anywhere from 6.3mm - 6.5mm in diameter. Any more or less than that the stone is either cut too thick or too shallow, which may affect its brilliance.

[@franklidgad]

Not a single word about "Lab Grown" or "Cubic Zerconia" diamonds that are flooding the market today. 1/10 the price and very hard to distinguish against a "Real" diamond. Do your homework BEFORE purchasing people. Don't let these scammers fool you into paying thousands when in reality you are not getting the real thing. As far as an investment is concerned once the 'Lab Grown' diamonds reach 100% (currently about 92%) replica of a real diamond they will ALL be worthless.

[@pickledragonrebel]

Conflict free is the equivalent of greenwashing. It almost impossible to buy anything ethically.

[@michaelgalanos981]

Skip the diamonds buy Mossinite less than 20 bucks for a carat on alli express much better value and no one is the wiser I am shocked to see people today still buying a lie and getting ripped off if you want diamonds go for lab at a 1/3 the price and you can buy them loose people wake up and smell the money

[@krylesangerbeaver]

18:15 Ben Moss claims the 1 level variation is common but then the price is so high he says the ring was evaluated higher than they sold it for, so it was actually 2 grades different from the GIA lab result. What he have to say about that lol

[@user-rn3zf5dp7v]

There is only a 1 grade variation on colour and 1 grade on clarity. This is completely acceptable in the industry. It would be a 2 grade difference if it went from an SI-2 to an I-2. That would be a big problem for sure.

[@liddletoes]

How it works at Ben Moss is there is something called hidden treasures. The tag can say i1 i color however the cert will say i1 g color. Th8ss is a step up in color. They have many hidden treasures that give you better value for your money. Next time you go to Ben Moss ask about their hidden treasures.

[@oscarca448]

In fact, carbon is the most abundant material in the 🌎!

[@TOSStarTrek]

I believe the can burn a serial number int them now that no one can see. No number means it is really worth nothing.

[@icevoss9917]

Not buying diamonds anymore, such a deception

[@neilj5364]

good news i am thinking of buying diamond earring for myself

[@gmoney3116]

🤝great job reporting on this topic the near future of diamonds💎is Lab D. They have the same chemical, physical, and optical properties as mined diamonds however, they are flawless,conflict free, environmentally friendly and half the price . Furthermore, you can even get a GIA graded Lab Diamond💍 it’s a no brainer. BTW the truth is diamonds are worthless a house of cards facts.

[@kcgunesq]

Note to anyone diamond shopping: don't shop or buy in these large retail stores. If you live in a city of any size, there will be small jewelers with excellent reputations that will likely sell you a much better stone for the same price.

[@heatherzwicker8031]

I would like a colourful heart shaped Polar Bear Diamond inscribed "Asexual"! Those have the certificate number on them with a certificate with them available downtown here in Ottawa or at the annual Rock, Gem and Mineral Show at the Nepean Sportsplex.

[@yassinebouyassine1571]

Music is so disturbing

[@fokana1]

CHOOSE LAB GROWN DIAMONDS 👍🏻 Clear diamonds are now essentially worthless as machines can compress carbon material like charcoal and graphite to make PERFECT diamonds! It's the precious stones with color that can't easily be copied that hold true value... for now 🤓

[@tawjeparker7203]

Canadian diamonds are stamped

[@icevoss9917]

I want to know where my diamonds originated from.

[@vmitchinson]

The only real valuable diamonds are the ones used to make cutting tools.

[@Wuhlz]

Ben Moss dude was absolutely dodgy, and his body language spoke volumes!

[@yaheeaalzuhary1607]

Diamond appraiser here, for replacement value, it all comes down to the market value, is appraisers go by a market subscription that makes a graph of the price and quality of the diamonds, we appraise it as a fair replaceable value where as if anything was to happen to the diamond you would get the replacement value on the market

[@liddletoes]

How I see a diamond to grade is not necessarily how someone else sees the grading. It's an opinion.

[@yaheeaalzuhary1607]

@@liddletoes there is always an exception when grading diamonds, you can only be off by 1 grade of the cut, clarity, and colour because that’s how humans are, we can’t precisely grade diamonds, it’s almost impossible, and comparing a person that grades it by hand isn’t the same as grading it at gia, they put the diamond in a Sarine machine that tells them the angle of the facets

[@umbreon741]

@@liddletoes From what I know, GIA grades diamonds with a group of 3 people or something like that. So it's not just one person looking at a stone and making the decision, it is a cross-examined effort to get the more accurate rating as possible.

[@aweishaupt5955]

Do people know if you get just under 1 carat in size the diamond is way cheaper and you really cant tell the difference.

[@umbreon741]

True, but a hard thing to find in mined diamonds and non-existent in lab created diamonds. Pricing goes in brackets and will jump up exponentially if you hit a certain size bracket. A diamond cutter that cuts a stone just under the threshold of a big price bracket will quite frankly lose their job.

[@kibaanazuka332]

The only truly confluct free diamonds are really lab grown ones. And in general, even highly skilled gem grader can't really tell the difference between a lab and a mined one.

[@PhiLLyPhiLLz]

Gia is the only way to go

[@amandahunter6722]

I thought carat started with a k

[@pickledragonrebel]

So did i

[@DorotheeRosenGoldsmith]

karat as in 18k gold starts with a 'k' , whereas diamond weight is spelled carat, hence 'ct' :)

[@liddletoes]

That is the term for gold

[@fredflintstoner596]

DIAMONDS ARE A JEWELERS BEST RIPOFF

[@lenoraaronel8542]

We didn’t buy an engagement ring. Our wedding bands are tungsten.

[@ic1815]

“You have a G color, the best there is, the quality is an I1” … I literally said ‘what?!’ out loud… G is not the best color. And I1 is an incredibly included diamond - aka terrible. So the color doesn’t even matter at that point. Hilarious how they try to sell you that!!!

[@vmitchinson]

Buy Canadian diamonds. The fellow from the diamond trade said the only way to know the history of a diamond is to buy canadian.

[@emcdowell2884]

Is there something that it’s not misleading nowadays?!. It’s there something that this greedy ruthless system doesn’t lie about? Who wrote down the law that says, one needs to spend thousands to prove my love to anyone? Hello no. Unnecessary consumerism crap.

[@waeld4234]

Just move to more affordable areas of the country, you want to live in Toronto or Vancouver, you need to afford it!

[@BlueHeron654]

When selling used you get 20% of the value. They don't appreciate well.

[@stefanjohansson2373]

Update your logo (2022)!

[@CHUCKBALLER2024]

I never will buy a rock from the ground

[@rangerannie5636]

I'm just as happy with Cubic Zirconia. 💍

[@lawriefoster5587]

Diamonds are such a con. Number one, they are NOT RARE. Rarity only comes with the very large stones or historical value. Think about all of the jewelry stores, dealers, outlets not only in Canada but in Europe, in the US etc etc. Plus the market is regulated by DeBeers who only allow so many diamonds to be sold to the open market each year. IMO...look at an Estate or Antique ring....much more value for your hard earned money.

[@mooonie6634]

Just adding what my mother taught me about diamonds....never let your diamond jewelry leave your sight in a jewelry store. If a jeweler had to work on a ring, ask for it to be done in front of you. In the US there was a couple mall jewelry stores that switched diamonds in rings.

[@andrewxiao1138]

💎✋

[@msroseydaniel777]

🇺🇲

[@ewcamaewcama]

This the most successful marketing scam ever invented. Convincing people (mostly women) that a pressurized lump of coal is with thousands of dollars! The person who made up this fairytale should be applauded

[@think2146]

Quite simply , thieves are what they are .

[@itslessfunincanada]

Everyone that has ever bought diamond jewelry has been ripped off. Diamonds belong on drill tips and that's it. Everyone that bought diamond jewelry is a victim of Debeers advertising that makes almost worthless items appear valuable.

[@marisahokefazi4735]

Similar to designer brands?

[@4real953]

I SEE NO WHERE YOU TALK ABOUT DUG UP DIAMONDS AND LAB MADE DIAMOND THAT ARE BEING SWITCH BY JEWELRS YOU ARE NEW TO THIS

[@warriorchild]

This whole thing is a racket but it seems we are too asleep to see it.

[@cameronsienkiewicz6364]

Lol this Michael hill rep is side stepping questions like a car salesmen lmao.. “oh, we’re not part of that group because our diamonds our perfect, so we didn’t feel the need to be a part of it” , bullshit, you’re happy with how the current laws are set up, so you aren’t doing anything to change it lol

[@franklidgad]

They are scamming people! Why would they want to stop? If they joined it would expose them. Eventually diamonds will be worthless once they can make the same thing in a lab for pennies. They are already so close to making them so you can't tell the difference now. Better sell what you have now before they are worth nothing. This needs to be told to everyone. The day is coming sooner than you think.

[@sharkparty1027]

Still buying diamonds? Talk about defunct.

[@LifeBindeR222]

People should stop buying diamonds completely. They're just a worthless scam and the facts support that claim.

[@Transforming2024]

Don’t buy from these stores that would be the smart thing to do.

[@lggsretrofinds4461]

what a scam just get a cheap ring and invest the rest in gold

[@franklidgad]

No... Crypto!!

[@nftees5104]

you lost me at brands sell the idea that Diamonds are a girl . . . "or a boys" best friends. The wokeness is becoming extreme.

[@cjbanks547]

The diamond industry overall is a hustle. Now they flooded the market with them CVD diamonds. At least marriage will not be about a ring anymore and come back to making successful families. Because diamonds are worthless.

[@jamaicasysbm2580]

Why get married

[@mgj2090]

thats true. the world wouldnt want another version of you.

[@jamaicasysbm2580]

@@mgj2090 stop being a simp

[@slidejones6033]

Because people dont want to be alone in their 40s and older.

[@jamaicasysbm2580]

@@slidejones6033 i never said you not have a girlfriend just not a wife

[@franklidgad]

@@slidejones6033 Too late for that. 50/50 divorce rate. Better off to get a ChatGPT partner.

[@alexanderh.999]

It's women's fault that they want diamonds so men have to oblige. Just don't ask for diamonds so problem solved

[@gabrielfrancis7616]

Diamonds are intrinsically worthless.

[@soniakorchynski]

Why are you asking us if we care, change to stop child slavery, naw, couldnt care less.

[@davidcantor293]

The Diamonds and Gems sold at these large chains are far from clear. You should really purchase from major fashion houses. Yes, the prices are heavily inflated however you will get a better color and more clear diamond that will hold its value from LV or Cartier versus Jared or Zales.

[@CEEEEEEEEENA]

i have learnt so much thru cbc marketplace , all these fking scammer companies

[@parkdalepete2600]

All you hear all day on AM radio in Toronto is this shiny rock scam sold to all the labourers driving to and from work everyday...the ads are so rudimentary it sounds like a class for the mentally challenged.." You're a chump if you don't spend money on the unattainable."...take out the garbage Ron...haha