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Has anyone had any dealings with the Melbourne Diamond Exchange?
I called them to speak about getting a stone and asking about the database and where the diamonds were. I got the impression that many of the diamonds on the site are not in Australia at all and that the list of what was available to actually view was entirely different. They then took on a very icy kind of tone when I explained I wanted to spend about $3K on the stone. I was telling her I wanted a stone with flouresence and she was quite cold then too. They never called or emailed me back, despite promising to, and I was a bit miffed really. My partner (you mave have seen this in another post) wants to spend $20K on the stone, so I don't think I will be sending him there after their snooty attitude.
Also, their ring settings are not really what I am after, so I would need a different jeweller anyway.
Does anyone know of a good platinum worker in melbourne or sydney (we travel there at least once a year) that will be kind and patient when I send my fellow there? Or even not a city based jeweller - hmmm...I don't want my man to be pressured or spoken to rudely like they did - I want him to take his time and have fun with it.
Thanks for your help.
Ok rambling again, but would love to hear about your local experiences....
I have generally heard good reports about them, but you can also try www.centuriondiamonds.com .au
DONT EVER BUY ANYTHING FROM THE MELBOURNE DIAMOND EXCHANGE!
This last 6 months has been a genuine nightmare.
My future wife ordered a 1.73 Carat Diamond for $15,000 at the end of March 2010 and it is now the middle of August and after many promises and lies the end result is that they wont even return my calls and they avoid me intentionally.
After about 3 months of waiting for the diamond to "clear customs" it turns out it was not even sent. Frustrated and losing her temper she asked me to deal with them because i am lot more patient and less likely to yell at them.
For another month i was assured by Karna Rana the sales consultant that it was still in transit and they werent sure where it was. I decided that I had had enough and I managed to get a hold of their CFO, Simon Middleton who assured me that he would find out what was going on and sort it out.
From that point on it was nothing but broken promises from him such as saying that the diamond was en route or that he was going to the suppliers head office to pick up the stone personally and i would be patient and wait but again i would call and ask what was happening and they would just say that the stone has not arrived.
I called the diamond exchange nearly everyday to try and get some confirmation but each time i managed to get a hold of one of them they would just say that they werent sure where it is.
I dont know what their game was but they have to be the worst company i have ever dealt with in my lifetime. That is not a euphamism, I have never been treated so poorly by such a company ever before. I would understand if the company was a used car yard or a dodgy mechanic but they are a supposedly professional company dealing with expensive high value items.
They have totally ruined any plans for my engagement and wasted countless hours of my time for absolutely nothing
I hope people who are thinking of buying diamonds from them reads this first and I can save them the incredible frustration and disappointment.
Did you actually pay for it or just order it from them and not pay for it yet?
Yes, I paid a 10% deposit to secure the diamond initially and then a few days later paid the full amount including GST.
As of this point in time, we have sent formal letters of complaint to the company (to which they still have not contacted us) and lodged a complaint with Victorian Consumer affairs. They have still not contacted us our next step will be to take the to the Victorian Civil and Administrative Tribunal (VCAT) where they have the legal power to obtain our refund.
I am in the same boat as you are, order 2 diamonds from diamond exchange on 1st july and yet haven't received it until now. Dealt with karna and simon as well but nothing so far. I'm going to write a complain letter,...
We are in the same boat as you all. my fiancé ordered our diamond back in June and was told it would take 3 weeks - 3 MONTHS later we're still waiting.
He keeps getting inconsistent excuses by this Kana Rana jerk and cannot even get past the receptionist everytime he calls.
I spoke to a jeweler today who does a lot of their settings and even they are having issues. Apparently he is still chasing them up for $$$ that they owe him.
Guys, something is definitely not right about this. Let me know how you guys go. At this stage we've been told Monday - if they fail to deliver we'll be seeking a full refund - even that is going to be a battle in itself
at this point I have logged complaint to JAA and fair trading (NSW). I hope I can sort this out as soon as possible
warning to everyone else out there -
STAY AWAY FROM DIAMOND EXCHANGE!
They are dodgy dealers who will take your money upfront and not deliver the goods.
Did you managed to get your stone? I just got a refund from them,.. feel relief now,. phew,..
Do not purchase from diamond exchange as i have been told they are going broke so they get the money down from one client to pay for another clients diamond they ordered months ago and now its catching up with them thats why there are so many people waiting for there diamonds as they cant afford to pay for them so be warned.
I'm not suprised by that. It all makes sense. They keep stalling the delivery of the diamond.. and each time we follow up they come up with different excuses. My partner called em up last week and spoke to this kana rana dude...he's promised to have it to us by this friday otherwise he will refund us on the day. This is the final straw... we'v already drafted our formal complain letter to consumer affairs vic and will proceed with vcat within 3 working days depending on their response to action.
I can't belive that we are going through this.
Sorry to tell you this misschik but i doubt very much you will get your money back and as for the diamond you selected to purchase wouldnt be avaiable now so they will have to offer you another one but i doubt you will get that one also and dont get the ring made up by them as it will be a horrible job as they owe there jewellers big money and they are trapped cause if they dont keep doing there work they will never be paid so they live in hope but now do really bad work for them.
You really should get on other diamond forums to tell the public like yourself and everyone is now going thru cause they will keep getting away with it and i know for a fact that its a running joke in there office on how many people will ring up screaming at them today.
Best of luck cause you will need it !
Misschick, I recently have had 2 customers that complained about the same experience with diamond exchange. They howver insisted on getting a refund which after numerous requests was given to them.
This artilcle has just been posted recently and I highly recommend that you read it. The JAA has also issued a warning to reatilers about Diamond exchangeE
I had heard similar things about Diamond Exchange leading up to buying my ring and thanks to warnings like joohn77's I stayed the hell away from there. Reading some of these other stories I definitely feel like a dodged a bullet there!
I ended up getting my (now!) fiancee's 1.6ct diamond and ring with a company called Ancardi Diamonds who were absolutely fantastic and I'm just so glad I didn't go through any of these headaches. They were really easy to deal with, got back to me quickly with answers/quotes and, probably most importantly, actually delivered when they said they would. I had my ring about 4 weeks after ordering and got it at a great price.
Just thought I'd put in my two cents and help out any other posters/readers after I feel like I was certainly helped out by reading this forum before buying!
If only I had taken the time to read these forums prior to purchasing my diamond from DIAMOND EXCHANGE...It would've saved me a whole lot of stress.
Their sales staff are very polite and prompt. However, once you've paid for the diamond, that's when the pain begins. They don't return calls and make excuses after excuses as to why the delivery of your diamond has been delayed. I must admit they do come up with convincing excuses. It has become apparent to me that they've mastered the art of handling difficult customers over the phone, however, DO NOT BE FOOLED...and make no mistake about it, these guys are thieves.
I'm not one to whinge on public forums but I've been so distressed over my experience with DIAMOND EXCHANGE that it has compelled to warn the public to steer clear of this soon to be defunct company.
As a reputable diamantaire of 35 years experience I ask this forum to give me the opportunity to explain some facts.
My company's reputation is based on integrity but unfortunately when you have an online rogue diamond vendor shafting innocent buyers, the reputation of all diamond vendors can be effected.
Buying a diamond is often an emotional decision and I sincerely regret the misfortune of others here but like most things in life, the buyer has to beware and is responsible for making their own decisions via proper research prior to any purchase. It's simple common sense.
Not is all what it seems when it comes to the smoke and mirrors employed to deceive innocent others who wish to purchase a diamond from organisations that purport to be ethical but are the complete opposite.
I believe it is in the interest of diamond consumers to be fully informed when making their purchasing decisions.
I believe it is my right to inform diamond consumers of the facts in order to differentiate between those ethical diamond vendors selling diamonds with independent recognised diamond certificates and those that do not.
The JAA - Jewellers Association of Australia has finally put a notice on their website to inform the public about the drop shipping virtual diamond vendor Diamondexchange.com.au.
The JAA are now in damage control for endorsing Diamondexchange.com.au by allowing the use of it's logo to provide the false credibility that so many of the JAA members seek for the cost a cheap membership that the JAA desperately needs ironically for it's own organisation to remain solvent.
The JAA knew there was a problem but only now have elected to act because they now realise how incredibly stupid and incompetant they really are.
All those diamond buyers who are out of pocket should organise a class action and sue the pants off the JAA.
Instead of acting quickly and still allowing the tacit endorsement of the JAA logo appearing on the Diamondexchange website proves once again why I am proudly NOT a member of such a corrupt parochial hillbilly organisation.
The JAA was happy to take membership fees from Diamondexchange knowing full well of the risks that this drop shipper posed but remained silent until the winding up action took place.This alone tells you what a morally bereft organisation the JAA really is despite my ridicule and criticism of the JAA. Now I can confidently say I told you so.
If buying diamonds from Diamondexchange.com was " the smarter way to buy diamonds " let me take this opportunity to thank our many patrons and supporters who were fortunately not as smart as Diamondexchange clients and now own superior diamonds.
In addition Ian Hadassin, the CEO of the JAA, has an honorary position in the Diamond Dealers Club of Australia. Why ? He has failed just like the DDCA to safeguard the interest of both club members and the public.
In the past week diamond drop shipper Diamondexchange.com.au, a member of the Jewellers Association of Australia has had a Notification of Application to Wind Up Company filed against it - 519G Notification of Application to Wind Up Company Under S.
Since the Application to Wind Up Company there has been an ever increasing number of complaints by customers who have purchased diamonds from this drop shipper for failing to deliver the diamond they purchased and failing to refund money.
Diamond Exchange's website page states: " Our international list of affiliations ensures that we are ethically bound to deliver a high quality of service. Our reputation within the industry dates back several generations which allows us to offer distinct marketing advantages associated with an international diamond infrastructure."
The website promotes the qualifications and expertise of its directors and shareholders providing extensive professional information about them but no director is named or listed on the site.
The Supreme Court documents list Diamond Exchange’s directors as Wayne Soloman, James Francis and John Buckby.
The JAA and the DDCA logos that appear on the Diamondexchange website provide a tacit endorsement.
I have endeavoured to provide some consolation to the many disappointed diamond consumers who been taken advantage of by several unscrupulous rogue JAA members now and in the past.
One disgruntled angry client had been seen banging on the doors of Diamondexchange's office according to an online publication closely associated with the JAA demanding his refund. Apparently after incessant banging ,the door was finally opened and a preferential payment was made to the client which if anyone knows anything about business liquidation matters will more than likely have to be returned to the appointed liquidator for the inevitable carve up should there be any real assets to carve up in the first place which would be surprising from a drop shipping firm that would have carried very few limited diamonds of any real considerable value indeed.
Rather than suspending Diamondexchange's membership immediately, the dysfunctional gutless JAA has announced that at their next meeting in November, Diamondexchange will have to give good reason why their JAA membership should not be cancelled.
Even after learning of the serious risk posed by their own high profile member, the JAA only recently put up a warning on their website to caution the buying public.It is simply not good enough and it is highly questionable whether potential clients would be warned adequately considering the Diamondexchange website is still online unlike the Diamond Dealers Club of Australia's website which has mysteriously disappeared in the current imbroglio.
Ian Hadassin, CEO of the JAA, also has an honorary position on the DDCA. What for ? I suppose it was the thought that counts considering there is not one real diamond expert on the JAA board since the Diamond Certification Laboratory of Australia, an International Diamond Council lab, divorced itself from the JAA also for reasons based on unethical behaviour that were never disciplined and became almost farcical when another JAA member certified a coated diamond as being a natural pink even after scientific proof.
In another attempt in seeking false credibility a previously unnamed director of Diamondexchange.com.au, a certain Mr Jim Francis with no known diamond credentials, was and may still possibly be the secretary of the Diamond Dealers Club of Australia affiliated with the World Federation of Diamond Bourses. This seriousness of this infraction has certainly not gone unnoticed. The DDCA chairman, Rami Baron was not available for comment. His vice chairman Adam Selikman remained guarded and insisted according to several of our confidential sources that Diamondexchange.com.au should be given the benefit of the doubt until the matter was resolved. How this will happen remains a mystery also since no annual general meeting has transpired now for over year and original DDCA foundation members have resigned in disgust well before then.
Several DDCA paid up members when contacted about the DDCA website now mysteriously disappearing have confirmed they are too all in the dark and have no idea what is going on.It seems the DDCA is just as superfluous as the JAA. No trade alert was ever given to club members about Diamondexchange.com.au having financial difficulties once the winding up action instigated by a venture capitalist called in their loan for only the miserable amount of approximately $235,000... peanuts in the world of diamonds.
One thing led to another and many disgruntled clients were in various online jewellery forums claiming how they had all been shafted. Indeed we ourselves had some of these clients in our office weeks earlier who we warned and urged by us to act immediately and were most fortunate to be refunded their money before the shit hit the fan.We knew what was coming since October last year and neither the JAA or the DDCA in their arrogance paid our comments any attention until NOW ! ( Bit late dummies )
Hadassin, a failed jewellery retailer himself, has told others that I am a " loose cannon " not to be paid attention to, but at least when I shoot I hit my target.
In an another attempt to cover's it's own arse and hopefully sweep this whole matter under the carpet, the JAA is now grandstanding offering their assistance to ripped off clients after the fact instead of preventing the problem they endorsed themselves via use of it's own logo on the Diamondexchange website. It's laughable.
NO JAA WARNING
If the JAA already knew officially by September 1st if not earlier, why did the JAA not issue a press release ?
Once again this is another example of the JAA protecting it's members instead of observing best business principles offering no protection to public consumers.
If nothing else, the JAA, CIBJO's Australian representative, is at least consistent in it's abysmal modus operandi.
Furthermore if the JAA has an honorary position in the DDCA why did it not warn other diamond dealers who are now unsecured creditors left holding the bag of debt ?
"You all take part in some stage of the pipeline ... none of you is an observer or bystander, and therefore, what happens in the industry is also your responsibility," he told the audience. "We expect you to be the watch dogs, the whistle blowers if need be, the gatekeepers of the industry's ethics. You have access to information, are observing the industry and making a living from it. You are part - willingly or unwillingly - of the team of the industry's defenders," recently Cavalieri said of CIBJO the World Confederation of Jewellery.
So why didn't the relevant trade organisations act ?
Answer : Because many of those who are on the boards and committees of these organisations are also the same schmucks who relish positions for their own self benefit. Simply they do not give a damn about you the consumer ! If it was their money guaranteed you would have heard them squawking and screaming like stuffed pigs.
Since the JAA has proved once again how ineffective it really is to assist the public consumer with adequate consumer protection despite recognising full well the risks and dangers posed by some of it's members for several years now,my company Diamond Imports of Australia has and always will promote goodwill, confidence and the integrity of our superior certified loose diamonds because, unlike some JAA members, our reputation is paramount.
Before buying a diamond it is very important to ensure that the diamond advertised by the jeweller or online diamond store is actually owned by them, it is in stock and not overseas.
Far too many jewellers and online diamond dealers advertise diamonds that they do not own, have never seen and diamonds that are not even in Australia.
This is what you call a Drop Shipper - advertise items that you do not own - sell them online to a customer - receive full payment in advance - have the item shipped - and skim off the profit!
Why would anyone in this day and age buy a diamond from anyone and pay upfront without ensuring that the diamond was in stock and that the dealer had actually seen it ?
How can a reputable diamond dealer or jeweller comment on, give advice or sell a diamond they have never seen, they do not own and a diamond that is not even in the country ?
In light of the failings of this diamond drop shipper based in Melbourne and Sydney, Diamond Imports has felt it their duty to make this announcement to help safeguard unsuspecting consumers who are endeavouring to purchase a diamond and also disclose to any potential customers that all the diamonds listed on the website www.diamondimports.com.au are in stock and available for immediate purchase.
To our many loyal clients, thank you for your support and patronage who now understand and appreciate the precious integrity of our very collectable select diamonds purchased with confidence and trust.
We feel proud knowing that our ethical business model has proved to other online rogue diamond vendors and piss ant glorified giftware retail buying group jewellers that we at Diamond Imports will do everything we possibly can to expose and ridicule our competitors who are deserving of our contempt unlike so many other jelly fish who are prepared to sit on the fence and let these charlatans continue to escape scrutiny.
We encourage new clients to experience the Diamond Imports Difference.
Buyers only please ; tyre kickers NOT welcome.
Trade clients please note : NO credit NO consignments. Use your own money instead. Remember bring your money with you if you do come.
Proudly NOT a member of the JAA
Daniel F Katz
Foundation Member DDCA ( RESIGNED )
Benitem Pty Ltd
Diamond Imports Pty Ltd
Graduate Gemologist GIA
Diamond Specialist & Diamantaire
Gemological Institute of America Alumni Association Member # 4833090
Member of the Jewelers Ethics Association USA
Diamond Certification Laboratory of Australia (DCLA) Trustmark Jeweller
Last edited by DanielKatzGG : 10-02-10 at 03:52 PM. Reason: Correcting spelling errors
1) "Each office is staffed with highly trained professionals with expertise above the industry standard. "
Who are they and what are their credentials ?
Qualify what is the industry standard ? Is there one ?
2) " Each national head office is equipped with a state of the art grading laboratory which provides a high level of quality assurance related to diamond and Jewellery analysis, both before and after valuation."
What is the state of the art gemological equipment utilised in each head office ? Who uses it and what are their credentials ?
Hold on...oops I nearly forgot... they did have cubic zirconias as a selling aid.
That obviously inspired confidence in the minds of a few bored housewives and over educated professionals.
If diamonds are supposedly graded independently why do they need a lab anyway ?
Where was the lab in their shared serviced Sydney office ?
Why do they need to value their jewellery and diamonds if they are selling it ? Don't they know already ?
3) " Diamonds are sourced direct from the major diamond cutting factories in Israel, Belgium, South Africa, USA and Canada. Primary suppliers are ‘De Beers DTC and Canadian Sight holders’. "
Um...isn't that what all genuine diamond dealers do ? or does Diamondexchange believe they are different ?
If this is true why is Diamondexchange sourcing diamonds here locally in Australia from domestic diamond wholesalers ?
4) "Diamond Exchange Ltd has fully staffed buying offices in New York (USA), Antwerp (Belgium) and Tel Aviv (Israel). "
Yeah really ? Where are these offices located ?
Does the World Federation of Diamond Bourses know ?
Have the staff been paid ?
5) " The Diamond Exchanges Ltd.'s. strategic position as a down line vendor to ‘De Beers DTC Supplier of Choice and Canadian Sight holders’ allows it to market high quality diamonds direct to the public at prices usually well below normal jewellery retail prices. Quality and savings are achieved through our buying methodologies, advanced IT systems, knowledgebase and delivery mechanisms."
What is this strategic position ?
Downline vendor ?
Is this corporate project management speak supposed to impress ?
Perhaps this is why they were unable to sustain their business if, as they admit, they were selling well below normal jewellery retail prices ? The profit was too small.
Buying methodologies ? advanced IT systems ? knowledgebase ? hahaha delivery mechanisms....blah blah blah
If they are so damn clever why are they being wound up ?
6) " Qualifications of Directors, Staff and Shareholders:
Consultant Geologist, (Bachelor of Science (B Sc. Hons) and member of Geological Society of Australia (G.S.A); 35 years experience in geology and mineralogy in Australia and overseas.
Product Expertise; 30 years experience in diamond cutting and sorting in Africa and diamond mining in Africa; Diamond Trading (rough and cut diamonds) in Australia, Belgium, Israel, USA and Africa. 15 years administration and sales experience in franchising in South Africa and Australia.? 30 years experience in Marketing in Canada and Australia and 5 years experience in alluvial mining in Africa ?
Graduate Gemologist's (FGG Hons DT. GAA & GIA) "
Names Names Names ??? blah blah blah fluff fluff fluff
Fair dinkum ! these guys are legends in their own kimberlite pipes.
I honestly have to wonder at the gullibility of those buyers who patronised Diamondexchange whose business thrived from the ignorant and uneducated.
I am grateful that my clients spent the time exercising due diligence prior to purchase.
Any future diamonds buyers should do the same. The more you learn the better equipped you will be to make the right decision.That is the smarter way to buy diamonds without becoming sucked in by all the hyperbole.
Last edited by DanielKatzGG : 10-02-10 at 08:34 PM.
THE FOLLOWING JAA ANNOUNCMENT HAS BEEN AMENDED BY ME
Important JAA Belated Announcement
Diamond Exchange Ltd
a JAA member
STILL NOT SUSPENDED
" This note is addressed to those consumers who are contemplating purchasing from Diamond Exchange Ltd.
The company has an application to wind it up lodged in the Supreme Court of Victoria BECAUSE A VENTURE CAPITALIST CALLED IN A LOAN AND SCREWED IT ALL UP FOR THEM.
In addition it has exceeded its stated terms and conditions for refunds owing to consumers BECAUSE IF THESE UNDERCAPITALISED AND INSOLVENT CLOWNS HAVE NO MONEY TO BUY THEIR DIAMONDS HOW THEN WOULD YOU EXPECT THEM TO HAVE THE MONEY TO PAY REFUNDS ?
In view of this consumers are advised NOT to pay up front for any purchases they plan to make UNLIKE THE SUCKERS WHO PREVIOUSLY DID AND NOW HAVE NO MONEY AND NO DIAMONDS.
For those consumers that are currently owed money by Diamond Exchange Ltd we would advise them to urgently contact or get their lawyers to contact the solicitors for the petitioning creditor Garland Hawthorn Brahe Lawyers (contact is Ron Lane (03) 9629 5551 and let him know that they will be standing in line to be substituted as a creditor if his client settles. " : Source JAA DON'T HOLD YOUR BREATH WAITING TO GET YOUR MONEY BACK OK ? IN LAYMEN'S TERMS ITZ GORN !
The Victorian Supreme Court documents list Diamond Exchange Ltd directors as Wayne Soloman, James Francis and John Buckby JUST FOR THE PUBLIC RECORD BECAUSE THE WEBSITE PROMOTES THE QUALIFICATIONS AND EXPERTISE OF IT'S DIRECTORS AND SHAREHOLDERS PROVIDING EXTENSIVE PROFESSIONAL INFORMATION ((((hahaha))) ABOUT THEM BUT NO DIRECTOR IS NAMED OR LISTED ON THE SITE.
The international diamantaire of mystery Johan Barry's role in Diamond Exchange Ltd also remains an enigma if that is his real name.
“We would never open a branch without sending one of our own Australian employees, because we have to be able to trust the manager with a couple of million dollars worth of diamonds,” says Johan Barry, international marketing director for Diamond Exchange. TRUST ? COUPLE OF MILLION DOLLARS WORTH OF DIAMONDS ? HUH? INTERNATIONAL MARKETING DIRECTOR WTF ??? and I have a black belt in origami
...NEVER OPEN A BRANCH ? READ MORE HERE :
Wednesday, March 18, 2009
Robbing Peter To Pay Paul in The Battle of the Goats & Monkies
SELF APPOINTED " Diamond expert " Johan Barry said that over the long term diamond prices tended to follow first world inflation with momentary price hiccups due to liquidity shortages an ideal buying opportunity.
Oops ! is this one of those hiccups or a liquidity shortage or both ?
And another priceless word of wisdom from Mr Barry the diamond expert with unknown credentials when questioned over a GIA graded D colour diamond verified as an F colour :
" the body colour of a diamond is not the primary factor in determining the ultimate retail price of a diamond " GO FIGURE THAT ONE OUT
Source :http://thediamondguru.blogspot.c o...as-belated.html
The JAA has advised Diamond Exchange Ltd that the JAA Board will vote at the Board meeting on 1 November 2010 to cancel its JAA membership unless Diamond Exchange can show cause why it should remain a member INSTEAD OF IMMEDIATELY SUSPENDING THEM.
The JAA has advised Diamond Exchange Ltd that a formal complaint has been lodged with ASIC AS IF THE JAA DID NOT KNOW ALREADY.
The Jewellers Association of Australia can be contacted on 02 9262 2862 or firstname.lastname@example.org.
Last edited by DanielKatzGG : 10-03-10 at 03:46 PM. Reason: "If you don't know jewellery, know the jeweller." - Warren E. Buffett
Ice Store Dot Com Dot AU aka Melbourne Diamond Exchange
For those of you who are fortunate not to have been caught yet let me alert you to Diamond Exchange Ltd's other satellite website http://www.icestore.com.au/.
Following in their now recognised tradition of complete and utter BS it is written :
" Wholesale Diamonds
One needs to be extremely careful of the misuse of this phrase as it implies that the vendor is a diamond wholesaler prepared to sell diamonds direct to the public.
This is a highly unlikely situation as the vendor would loose all its wholesale customers, These diamond customers usually purchase more diamonds than private consumers.
The IceStore situation is different, we can supply diamonds at below the local wholesale diamond price because we have an interest in a diamond cutting factory and an International distributor. "
Wow ! Are you impressed ?
Look at those words " below the local wholesale diamond price "
What the hell is that supposed to mean?
So did it work for them ? Enough said.
How then is the cutting factory going to cope without their interest ?
If this is true why are they based in Melbourne ? Hardly the epicentre of international diamond trading is it ?
Let us examine more.
" Conflict Diamonds
Diamond Exchange Ltd. is an active participant in the process to eliminate conflict diamonds. "
The perception being promoted here is that they are active participants.
All diamond dealers are active participants otherwise they can not trade.
Perhaps if they were genuinely active they could go live on the Zimbabwean/Mozambique border instead to show us all how dedicated they really are to humanitarian causes and stay there.
" ICE Ideal Cut Diamonds
ICE Ideal Cut diamonds are carefully cut for brilliance, while maintaining a highly competitive price/value relationship.
Ice diamonds are precision cut then certified by GSL,BGL,HRD, GIA or AGS,
Ice Ideal & Excellent cut diamonds are cut within a range of dimensions and tolerances that produce exceptional brilliance. "
How would you the buyer see this brilliance ? They never carried enough bloody stock for you to make that comparison !
In regard to diamond certification GSL ( Gem Studies Laboratory - Bill Sechos ) and BGL (Bauer Gemmological Laboratories - Ronnie Bauer ) are not recognised by the World Federation of Diamond Bourses.
How well is a graded diamond received by consumers?
Most consumers are aware of the fact that you need a diamond grading report, preferably from one of the leading INTERNATIONALLY RECOGNISED ACCREDITED COMPLIANT DIAMOND GRADING LABORATORIES.
If an UNCERTIFIED diamond is sold only with an in-house certificate this is NOT a certified diamond.
Consumers need re-assurance and our industry needs to be transparent and confident.
This is where diamond grading plays an important role.
In addition Ronnie Bauer falsely described the evaluation of his in-house pseudo lab by fraudulently claiming his lab was endorsed by HRD, an International Diamond Council Lab.The publisher of Jewellers Trade confirmed to me that it was Ronnie Bauer who was the source of the story.
Diamond Grading Lab Ownership
" At a meeting, a question was tabled whether a diamantaire can operate as partial or sole owner of a diamond grading laboratory.After discussing this issue at length, the Executive Committee felt that, while it certainly is not illegal, such a situation represents a strong conflict of interest and borders on what could be considered an unethical practice.The Executive Committee urges member bourses to dissuade their members from allowing themselves to attain such positions. " Source : World Federation of Diamond Bourses News Update Edition 1 March 2003
For HRD and any other recognised diamond labs to appear to endorse BGL is an insult and unfair to all those who use GIA, DCLA, AGS and any other recognised labs.
It undermines us all.
The integrity of our diamond business is already being tested by the fragile reputation that most jewellers now have because of situations like this.
Read more here : http://thediamondguru.blogspot.c o...iamond-lab.html
The Sydney based Diamond Certification Laboratory of Australia (DCLA), one of of only five International Diamond Council laboratories worldwide, had banned Diamond Exchange Ltd at least two years ago whom they considered highly unethical by falsely advertising diamonds that were not independently graded by an accredited lab if sometimes at all.
The Jewellers Association of Australia ( JAA ) has a code of ethics that they do not adhere to.
" A jeweller using a certificate or any document or making a statement, written or verbal, to promote or sell a product must tell the truth.It's simple as that. If you do not, regardless of whether a customer has been deceived or not, you will breach the deceptive and misleading conduct provisions of the Trade Practices Act "Jewellers Association of Australia warning November/ December 2008
Again the perception that their Ice ideal cut diamonds are better is also BS.
They took whatever they could get on consignment otherwise they had to pay in advance themselves unless some dopey domestic wholesaler was desperate enough to deal with them.
I refused to consign or sell to them.
This is why diamond buyers from the public had to pay in advance.
No respectable diamond merchant would go near them.
Diamond Exchange Ltd was like a time bomb waiting to happen.
The DCLA was condemned for their efforts to clean up the industry in Australia.
The JAA and it's board members lack of support and refusal to discipline it's members is a complete disgrace.
The JAA has been alerted more often than not when it comes to matters of unethical misleading and deceptive business practices failing in their duty of care exposing the unprotected public to risks waiting to happen.
When trying to sell diamonds the JAA is a facade for retail jewellers~who are are unable to compete ethically ~and might rip you off !
Roy Cohen, co director of DCLA summarised it all succintly regarding the Australian diamond jewellery industry " ...an industry code of silence and lack of standards exposed customers to potential ripoffs " and was condemned for his comments.
I was often requested to be less vocal because it was bad for business as if I was expected to be running for a popularity contest amongst my peers.
My reply was " It might be bad for your business but it's great for mine."
Last edited by DanielKatzGG : 10-03-10 at 05:46 PM.
Ok tell me if this some sort of sick joke ????
Fraudsters unveiling a fraud-proof system LOL LOL LOL
I love this bit:
"The Diamond Certificate fraud-proof system has been extensively tested within Diamond Exchange Ltd. and independently by the well-known and much-respected Bauer Gemmological Laboratories. This technology will reset the global benchmarks for diamond certificates throughout the professional diamond industry.
Much-respected by who ? Himself perhaps ? and adored by Diamond Exchange if they needed a rubber stamped grading report or a laser inscription because DCLA told them to get lost.
LOL LOL LOL @ global benchmarks.... is it HRD? is it GIA ? No ! It's Super Bauer to the rescue ! You will all be saved...the Gemmological Messiah has finally arrived and you can all thank the directors of Diamond Exchange Ltd for their profound vision...bow down and thank your lucky stars....Hallelujah !
((( THUD ! )))
Bauer is on record for confirming that he did NOT believe it was a requirement for verifying a diamond's pedigree via it's grading report prior to laser inscription therefore voiding any grading report or diamond certificate.
In addition Bauer uses the much cheaper hot laser inscription equipment, not cold laser, risking damage to diamonds and again voiding any recognised grading report unless it was one of his BGL's.
Bauer remains defiant only because no one has seriously challenged him yet.
This is the inferior calibre of diamond grader Diamond Exchange retained.
Learn about laser inscribed diamonds here:
As for the rest of the BS that appears below the reader can make up their own mind whether they are suitably impressed or not.
So does this fraud proof system guarantee delivery of your diamond after paying for it in advance ?
The Diamond Exchange Unveils Fraud-Proof System for Certificates
Posted: 07/22/09 09:12
Press Release: The Diamond Exchange Ltd. (www.diamondexchange.com.a u), an Australian online diamond retailer, launched a fraud-proof system for diamond certification in June. The system makes it virtually impossible to fraudulently alter diamond certificates. A detailed technical overview follows this introduction.
The acquisition of this technology arose out of the importance for Diamond Exchange Ltd. to protect its brand names, reputation and image against any “copycats” or “confusion” in the market. Not only can the system protect diamond certificates, but also other forms of branding media used by jewelers and diamond dealers.
Diamond Exchange Ltd. considers the system so innovative that it would like to see it being shared with the diamond industry globally. This would ensure the protection of all professionally-issued diamond certificates and jewelry from being able to be tampered with or counterfeited. Diamond certificates are the cornerstone of the integrity of the diamond industry in providing consumers' absolute confidence in the product, and these certificates are the public’s protection for their diamonds and their value forever.
The Diamond Certificate fraud-proof system has been extensively tested within Diamond Exchange Ltd. and independently by the well-known and much-respected Bauer Gemmological Laboratories. This technology will reset the global benchmarks for diamond certificates throughout the professional diamond industry.
Global counterfeiting of goods and documents is an epidemic, costing more than $650 billion per annum, and no product or industry is spared. The technology is a next-generation product in the form of a covert 2D barcode, which allows up to 4,000 characters of information to be stored. The original document image is provided directly to the authentication location for final authentication.
The 2D barcode can only be read with high-tech proprietary readers, which are securely networked through a Department of Defense-grade database to provide a true global tracking system, protecting the integrity of diamond certificates wherever they are scanned. Each invisible barcode is essentially a fingerprint or a DNA-like profile that cannot be altered or tampered with, due to the trillions of possible codes within the 11 levels of security provided.
The technology is based upon unique nanospheres packed with microscopic codes and decoy molecules that are virtually impossible to reverse-engineer. The Diamond Exchange is making this technology available for use through authorized technological institutes throughout the diamond and jewelry industry.
Technical Overview Detail
The technology used is based on unique nanospheres packed with molecular codes and decoy molecules that are impossible to reverse-engineer. The technology provider has uniquely merged molecular and nanotechnologies to create a covert encryption spectral signature that can be embedded onto most products, documents and substrates. When combined with a 2D covert barcode process, the overall system provides 11 levels of security and over 32 trillion code variations, more data storage — up to 4,000 bytes — than RFIDs, all without the high cost and poor reliability of RFIDs.
With a virtually unlimited number of codes available to Diamond Certificate brand owners, the encryption system provides an industry-leading covert brand protection and authentication system that has one of the lowest implementation costs in the industry. This encryption system can be utilized in products like Diamond Certificates, Kimberley Process records and general diamond and jewelry branding materials. The provision of covert anticounterfeiting technologies and services in a unique solution ensures that brand owners will stay ahead of counterfeiters, protect brand equity and reduce significant financial losses.
The 2D covert barcode incorporating the encryption spectral signature can only be read by a proprietary spectral reader, ensuring the highest level of data integrity. The encryption technology incorporates unique features that make it ideally suited to protection of reports and brands, such as codes activated by spectral signals with a unique emission spectra similar to a fingerprint or a DNA profile, giving a unique encryption code for every customer's product type, without limitation.
Secure Authentication System (SAS)
The secure core of the encryption Diamond Report and Brand Protection solution is the SAS software, which operates in a tamper-protected “appliance” hardware environment that can be hosted at the brand owner’s facility. The SAS is based on Department of Defense-level encrypted web communications and a fast directory-based database, integrating custom middleware for the management of the various encryption codes and individual product data. This system provides a secure track able to be traced across the global logistics chain.
The product’s journey through the logistics chain follows the following process, with encryption-based authentication and detailed item tracking and data capture at every step.
• Manufacturing Facility – An encryption Printing Facility is provided to print the covert 2D barcodes onto the product, label, cument or card, and to authenticate the unique brand owner encryption code and serial number data back to the SAS via an encrypted web connection. Up to 4,000 bytes of data can be included in the barcode.
• Wholesaler/Importer – An encryption 2D covert barcode reader and secure client software installed onto a PC reads data in the product, label, document or card and authenticates the encryption code back to the SAS via the web. The SAS database maintains an entry for each item read.
• Retailer - An encryption 2D covert barcode reader and secure client software installed onto a PC reads data in the product, label, document or card and authenticates the encryption code back to the SAS via the web. This completes the tracking of the product to the point of sale, with the SAS holding the complete audit trail and history of each individual item.
• Brand Owner – Through more secure client software, the brand owner will have access to the SAS to manage each encryption code and sets of codes for products, and to obtain detailed reports on each individual or facility-based item, across the global logistics chain. Customer reporting is also available, as well as interfacing to corporate SAP and other ERP systems.
Source :RAPAPORT http://www.diamondexchange.com.a u.../22072009.shtml
Last edited by DanielKatzGG : 10-04-10 at 10:29 AM. Reason: Added links
Hi everyone. I am also in a similar situation, however I received my ring and diamond (a replacement due to "the supplier making an error on the order") however sent it back to the to re-do the ring setting, so am hoping to have a resol
There are some serious issues surrounding The Diamond Exchange, and I would like to direct anyone in a similar situation to the following article http://www.jewellermagazine.com/Art...continue&vc=997
Legal action seems inevitable so my advice is to speak to the representing firm and line up as a creditor. I will be doing that at the end of this week if I don't have a resolution.
Dear Customer1 & Anon
You, like others are the victims of dealing with a middleman company that knows nothing about diamonds or jewellery.
Diamond Exchange Ltd does not own the diamonds they sell. They just skim the profit between you and the wholesale supplier.
Likewise the same applies with manufactured jewellery.
Their website on the surface appears respectable to the uneducated.
Anyone with experience or half a brain would realise that something was just not kosher.
Yet this company is a member of the Jewellers Association of Australia and only now because people have been complaining, the JAA has decided, in order to save face, to appear to be doing something.
The JAA already knew of the issues in the past but refused to act despite taking membership fees without scrutinising Diamond Exchange Ltd.
Let me assure you Diamond Exchange Ltd is not the only member of the JAA you need to exercise caution with.
There are other JAA members also falsely claiming their diamonds are independently certified when in actual fact they are not.
They are traders claiming to be qualified independent graders.
Graders and or/ valuers should not be traders. It's a conflict of interest
The worst of these is in Melbourne, Auscert and Bauer Gemmological Laboratories and one in Brisbane which boldly calls itself the Australian Diamond Grading Laboratory.
All three run jewellery and gemstone businesses.
The JAA allows this to happen.
This is another risk waiting to happen.
I have often received threats of legal action and welcome the opportunity to further expose these unethical practices should the need arise.
In the meantime buyer beware.
If anything, this proves there is no protection for you as a diamond consumer in Australia and ultimately it is you, the buyer, who is reponsible for your own welfare by exercising due dligence and doing your own reserach prior to purchase.
MORE JEWELLERY TRADE HYPOCRISY
‘Never buy diamonds online’, urge stung customers
Posted October 05, 2010 Source
" Damning feedback from Diamond Exchange customers suggests consumer confidence in online diamond retailers has taken a hammering thanks to the debacle.
A number of Diamondexchange.com.au customers have contacted Jeweller outlining their frustrations and dismay at the way the company has treated them.
One wrote, “I would urge your readers not to do any business with the Diamond Exchange”, while another said, “Never buy a diamond online.”
The Diamond Exchange customer who has given up on buying online spoke to Jeweller on the basis of not being identified, but advised other people against dealing with online diamond retailers.
“They hold very little inventory. They get diamonds on the internet the same way that you or I get a diamond from the internet. They are a 'middle-man' more then anything else,” he said.
Another customer who had not received her order requested a refund that was eventually processed two weeks after the first request. She said she would use an online retailer again but would be far more cautious. “I would buy online only if there was no upfront payment required. I have found a few places that would offer this and I would also check the company’s ABN on ASIC record and do some Google searches on the company,” she advised.
Having ordered a ring in mid-July and paid upfront, another customer has cancelled the order because he was still waiting for delivery this week. According to the customer, Diamond Exchange has had his money for 10 weeks. The unhappy client said, “If I had my time again, the thing I would do differently would be to pay a smaller deposit. Unfortunately, in all the excitement of buying a diamond and getting ready to be engaged I just listened to the sales consultant when they told me I had to pay for the diamond upfront.”
He added, “Originally I was told the diamond would be on its way, but there was a problem with customs. I have only recently realised what is happening, and was told that the diamond would arrive within the week by Jim Francis. Being a director, I believed him. The week came and went without the diamond arriving and I've since asked for a refund, however from what I've been reading this avenue doesn't look too good either.”
The complaints about Diamond Exchange were first raised with the Jewellers Association of Australia (JAA) last month and the industry body quickly found itself dealing with an influx of claims against its member, close to 30 in total.
While many of the Diamond Exchange customers contacted by Jeweller have now either received their order or refund, many are still waiting. They all spoke about the delays in delivery or delays in receiving a refund.
One consumer said, “If I didn't jump through all of those hoops and keep the pressure on, there is no doubt in my mind that I would have never received my refund.”
At least two customers who ordered rings well before their planned engagement parties were faced with embarrassment because the ring had not arrived on time. One customer claimed he was advised two days before the engagement party that the ring he ordered six weeks earlier would not arrive in time.
“I suffered significant embarrassment to the point that family members were asking whether my partner and I were experiencing financial difficulties because I didn't have an engagement ring. It also cost me a further $1,000 to cancel my engagement party,” he said.
One consumer who purchased a “substantial” ring claimed it took nearly two months to finally receive a full refund. Although he paid for the entire purchase in advance, Diamond Exchange refunded the money owed via a number of smaller refunds over a two to three week period rather than issuing one total refund.
The list of complaints seems endless, with another customer who at the time of publication was still waiting for a final payment saying, “The lack of refunds and replies to customer requests has been an absolute joke and I am extremely disappointed as well as stressed out given that this is meant to be for an engagement ring. I cannot express how frustrating this process has become and I only wish for this transaction to be finalised.”
While many transactions have now been completed, one consumer wonders what would have happened if the JAA had not intervened on its member. “The difficulty remains with the fact that they continually promise the delivery of diamonds in a 14-day time frame which they clearly can't deliver. While I had a good outcome I wonder whether this would be the case if Ian Hadassin from the JAA did not become involved,” she said.
There have been unconfirmed reports that Diamond Exchange has been sold, but attempts to clarify this matter with Simon Middleton, the company’s chief financial officer, proved unsuccessful.
Jeweller contacted Middleton, raising a number of claims made by customers, but at the time of publication Middleton had not responded. Of most concern is that customers’ personal records of their dealings with Diamond Exchange suggest that the company was failing to make refunds to existing customers within the promised 14 days and at the same time it was taking upfront payments from new buyers.
As at 9am Tuesday, October 5, the 519G application to wind up the Diamond Exchange was still showing on the Australian Securities and Investment Commission’s website. If successful, the application would mean forcing the company into administration and possible liquidation.
The JAA still has a warning on its website Jaa.com.au and has advised the company that its membership to the JAA will be discussed at the next board meeting. "
The author of the above editorial has a connection with the Jewellers Association of Australia. In fact his magazine titled "Jeweller" is reliant upon the advertising.
As much as he wishes to publicise the events, comments such as " consumer confidence in online diamond retailers has taken a hammering " is a subliminal attempt to support the brick and mortar retail jewellers who have not been able to compete.
For the record our online diamond website has never been busier because unlike Diamond Exchange Ltd all our diamonds advertised are in stock.
That makes a huge difference when the vendor has the confidence in stocking the diamond backed up by over thirty years of experience, good will and recognised credentials.
It's entirely hypocritical that when I wrote about my concerns in 2008 that I was both ignored and ridiculed. In fact the author of the above editorial wrote to me and remarked that he was "going to expose me for the buffoon " I was.
Now that the tide has changed so has the attitude of the JAA and it's support magazine Jeweller.
Where was this support and criticism when both myself and the Diamond Certification Laboratory of Australia spoke up about the unethical practices of companies such as Diamond Exchange Ltd and several unrecognised pseudo in-house diamond grading labs that advertised in Jeweller.
The editor got into bed with those labs that were both trading and grading while falsely claiming they were independent posing a serious conflict of interest.
The editor of Jeweller at that time went on a concerted campaign to rubbish and defame the Diamond Certification Laboratory of Australia because DCLA refused to play ball and stopped their advertising.
The narcissistic editor, probably just as unpopular and disliked by members of the jewellery trade, almost now believes he IS the JAA while backing it up with his own agenda to remain valid even remotely and is simply regarded as a bully who is protecting his own interests with both the JAA and trade event organisers.
At the same time today after being embarrassed into it, the Diamond Dealers Club of Australia affiliated with the World Federation of Diamond Bourses issued a press release that said really nothing except trying to protect one of it's own committee members playing the diplomacy card.
One of the comments made was that to date there was only one complaint.
That complaint must have been mine that I sent to the WFDB because the DDCA website was not operating therefore no one at DDCA or others were able to contact the DDCA. The website host had closed the DDCA website down because these geniuses at the DDCA are unable to run a club of approximately 20 members.
The whole issue of Mr James Francis diamond credentials unknown, a director of Diamond Exchange Ltd also being the secretary of the DDCA remained unanswered.
Mr James Francis's role as both director of Diamond Exchange Ltd and secratary of the DDCA is utterly incompatible and he should be made to resign immediately in light of the scandalous accusations that have revealed directors were trading when many clients had paid for undelivered diamonds in advance or did not receive their refunds if diamonds were returned as promised.
In addition the DDCA failed to warn it's own members that Diamond Exchange Ltd had difficulty paying for it's diamonds. This is what a diamond club is all about.
Mr Rami Baron the DDCA chairman has proved to be a dismal failure as the chairman. His one and only attribute is that he is very good at public speaking,presents well and that's about all. He is like the Kevin Rudd of the diamond world flying around ingratiating himself on the backs of others. He's very good at it too usually impressing anyone who has met him for the first time by his decorum.
There has been no annual general meeting of the DDCA now for well over a year. Why ? And where is the club's membership fees gone ?
I seriously doubt the DDCA has paid it's dues to the WFDB. If so where did the money come from ?
Club members are kept in the dark. No one at the club even knew their DDCA website was kaput. To be honest I doubt they even care. It will be interesting to see what mushrooms rejoin the DDCA but why would they?
In fact today's press release which was sent out to everyone, but me, and then forwarded by others was the first communication in well over a year.
What made it worse was that the press release was not sent out by the DDCA but Rami Baron's own private business email with DDCA and WFBD logos blazing. It's actually quite hysterical bordering on cringing.
The press release was a dismal attempt to protect Mr Francis, the DDCA secretary, because Rami Baron is constipated by his own self importance and refuses to acknowledge that under his reign of chairman, the DDCA has lost members rather than grown when the original 46 people who turned up at the first DDCA meeting in it's embryonic stage was only to be dominated by Rami Baron's comments and the appearance of the immensely disliked Diamond Exchange Ltd's Jim Francis because of the damage being done to those whose had been making an honest living until Diamond Exchnage Ltd appeared on the scene with their cheap drop shipping website promoting virtual diamonds and numerous bogus website listings making bold claims that most professional diamantaires scoffed at but the general public's gullibility sponged up.
Those few remaining club members are the bottom of the barrel retailers and low life gem dealers that I would not spit on hoping to gain some advantage over others.
As I write there have been several structural changes in Diamond Exchange Ltd with resignations and new appointees. In time this will all be revealed for the next part of the saga.
In summary those who now condemn Diamond Exchange Ltd like the JAA and it's magazine Jeweller never saw fit to act until now because they now have egg on their faces. Their only defence is to attack one of their own.
Likewise the DDCA's refusal to abide by it own constitution such as allowing new members without referring to club members first and Rami Baron's lack lustre performance as chairman of the DDCA has only proved me right once again.
The demise of Diamond Exchange Ltd's reputation is not the issue here.
Neither is the slow painful malaise of the DDCA.
The issue is how trade organisations such as the JAA,CIBJO, the DDCA and WFDB are unable to police and discipline their own members while the public consumer's confidence is eroded by schysters and rip off merchants.
Is it any wonder why business is to tough for so many ?
How difficult is it to do just the right thing ?
Please just spare us all the hand wringing bleeding heart editorials and commentary when it was the same people who originally ignored the risks that Diamond Exchange Ltd posed but are now trying to save us all for their own greater glory for which we are all expected to feel grateful.
Last edited by DanielKatzGG : 10-07-10 at 01:02 PM.
Diamond exchange also have a website going called www.diamondbidz.com.au so keep away from that one also !!!!
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