Preventing Diamond Disasters

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Glistening diamonds can be hard to turn down, and if you're in the market this holiday season, don't buy in haste.

"There are no bargain basement discounts out there and those who offer stones at absurd discounts that almost laughable. I think that's a very serious area to avoid," says Ralph Destino, Chairman of the Gemological Institute of America.

Jewelers say any stone larger than a half-carat should be certified. Be prepared for prices to vary between organizations, even if the diamond is the same size or has similar clarities.

"Cut could alter a diamond, even though there's other credentials for C's are the same by 50-percent. So just based by how poorly cut or how well they are cut," says Brent Meade, President of Gruno's Diamonds.

Meade warns not to buy jewelry on line, because even those pieces coming with credentials can very well be a scam.

"We've had a handful of fraudulent watches that have been sold to unsuspecting consumers through the internet, to a tune of being built out of 3-thousand dollars," he says.

The Rolex watch on the left is fake. But it was tough to know since it came with papers. Because of such scams, Rolex has completely changed how they certify their products. Ensuring holiday shoppers they'll get what they're paying for.

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