ED Magedson – Founder
August Stephenson3670 Tampa Road Oldsmar, Florida USA
August Stephenson diamond switch and rip off Oldsmar Florida
I traded in a marquis 2 ct G color, si1 clarity diamond ring. The ring I got was a 2ct round stone, H color and SI3 clarity. The Gemological Association does NOT recognize an SI3 category. I went back and said I wanted to trade in this ring for a yellow diamond. When they looped the ring, they said they recognized the setting, but stone was mine. Luckily, I had the paperwork to prove that August had sold this stone to me. I lost quite a bit of money on the trade. When I wrote an email to complain, this is the response that I received. This is verbatim:
"Now to address your concern, with your original trade of the 2ct marquis diamond for the 2ct round diamond, A marquis diamond is one of the least desirable stones and because of that, the value does not directly equal that of a round stone. Round diamonds always have the highest value, which is why the stone you ended up with was a slightly lower quality (one color and one grade down) When you brought the ring back to trade in on Friday, the stone had a chip/break on the edge do to wear and tear, which effects the value greatly. The chip/break was on top and bottom of stone.
We will have to recut so it will be in sellable condition. This will be a lot of work for us which is why the trade value was where it was. If you are not happpy, you are more than welcome to bring the jewelry you took on Friday and we can reverse the transaction.
This ring was insured by Jewelers Mutual Insurance Company. The ring was inspected by August Stephenson twice a year. At no time, was I EVER told there was a chip/break.
Don't buy anything at August Stephenson.
This report was posted on Ripoff Report on 01/06/2014 04:00 PM and is a permanent record located here: http://www.ripoffreport.com/reports/august-stephenson/oldsmar-florida-34677/august-stephenson-diamond-switch-and-rip-off-oldsmar-florida-1113385. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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