TV Station reports on problems w/ Auction on Bidz.com
, 02:49 AM
A Milwaukee TV Station, did a 4 on your side piece on buyers of Jewelry from Bidz.com.
4 On Your Side: Jewelry Investigation
Looking for a great deal on jewelry? Better check out the business before you buy. Four On Your Side's Shelley Walcott found an online jewelry site taking customers for a ride.
Jewelers say the right necklace or ring can make or break your image. They also suggest you see it, before you buy it.
"In jewelry in particular there is no great deal. You get what you pay for," our appraiser told us.
Tracy Bauman found that out the hard way. She ordered a bunch of pieces from online auction site Bidz.com.
Bidz sells jewelry tagged with suggested values from hundreds to thousands of dollars. Online shoppers bid for pieces at rock bottom prices.
Tracy told us she thought she was getting fine jewelry at a deal. But that's not what happened. "Me and a couple of friends of mine ordered some rings, earrings, watches.... and two weeks later when it showed up it was very disappointing," she said.
In fact, she says all the jewelry they ordered turned out to be... Junk. "The price I paid for them wasn't outrageous. It's just that they made you believe that these were beautiful, nice jewelry. And you get them and I thought, wow, I can get these up at any Kmart."
We decided to have a professional take a look, and the jeweler we visited wasn't too impressed. Professional appraiser Joel Hassler works at Rasmussen's Jewelers in Racine. He told us Bidz.com is a big rip-off.
"Looks like this particular web site has a big disclaimer. You know, their "compare for" price is not an indication of value or appraised value or worth or anything," Hassler told Tracy.
Tracy paid 50 bucks for a sterling silver ring... Hassler says it's actually worth about $10.
A 10 karat gold ring with aquamarine and diamonds was suggested to sell at $200 by other retailers. Actual worth? $20, Hassler said.
Same for earrings she bought. "The little tag says genuine stone and sterling silver. It's sterling silver, I have no reason to doubt that. And when you say genuine stone... I mean, granite and gravel is stone too....so I mean what do you mean by genuine stone?" Hassler pointed out.
Bidz.com listed the earrings "compare" price at $139. Hassler's estimate? $20.
14 carat gold earrings? $20 again. Way less than the $135 Bidz.com suggested they might sell for elsewhere.
We bought our own pieces from bidz.com: A white gold tanzanite ring and emerald earrings set in 14 karat gold. Bidz told us the two pieces could sell for more than $300.
Our appraiser says no way. He told us the stones are real... but inferior quality. The settings? Gold, but not much of it.
Turns out plenty of people have been ripped off by bidz.com. The BBB gives them an "F" rating... and calls their advertising "grossly misleading" and questions whether they have "fraudulent business practices."
And while bidz.com does have a return policy, you have to pay a 15% restocking fee, plus shipping.