Got diamonds? Get a refund!

If you have diamond jewelry -- or jewelry with a diamond in it -- purchased between Jan. 1, 1994, and March 31, 2006, you may be eligible for a refund as part of a recent settlement of a class-action lawsuit alleging that De Beers, the big South African diamond company, had cornered the market for diamonds for decades, keeping prices artificially high.

Seriously! The refund calculations are listed below:


Purchase priceMaximum claim

Mixed-stones jewelry

Less than $200

6% of the retail price

Mixed-stones jewelry

$200 or more

14.5% of the retail price

Diamonds-only jewelry

Less than $200

10.5% of the retail price

Diamonds-only jewelry

$200 to $999

27.5% of the retail price

Diamonds-only jewelry

$1,000 to $5,499

32% of the retail price

Diamonds-only jewelry

$5,500 to $9,999

38.5% of the retail price

Diamonds-only jewelry

$10,000 or more

45% of the retail price

Loose diamonds

Any and all

59% of the retail price


The details of the lawsuit indicate that consumers may not get that much money back (or any at all), but it's worth filing a claim just in case. And if your diamond is valued at $10,000 or less you don't need a receipt to file the claim.

You have until May 19 to make a claim. Go online to the settlement site to file a claim online. Or download a .pdf claim form to mail it to the address on the form.

2 comments:

Anonymous said...

The good news is you get a diamond refund! Probably about $100! The bad news is the value of your diamond was apparently overpriced from 6% to 60% at time of purchase......

Amber said...

Yeah Mert thank you for sharing. Jon and I both bought our rings in 2004 so I will be filling out a form....yeah, we will see what happens!!