Last month, WRAL News released an article urging online shoppers to be wary of buying or selling to strangers on social media. With numerous buy/sell/trade groups in Wake County, there is a greater risk of scams, especially for high-ticket items like gold. Even worse, thieves could use your social media profiles to gain more information about you and your home.
In this article, Mark Andrews Jewelers outlines the 3 signs of an online jewelry scam and how to avoid them. Finally, we’ll provide information on selling your jewelry to a reputable buyer rather than a stranger from the internet.
Warning Signs for Sellers
Selling your jewelry online may seem like a convenient way to make some quick cash or make space for new items. However, thieves can use this as an opportunity to scam you out of your jewelry and your money. Below are a few of the warning signs for sellers to be on the lookout before falling into a trap:
- The buyer refuses to meet locally or asks you to mail the item to them and they’ll pay you via PayPal or online.
- The buyer’s profile or email looks fake. This warning sign can be easily missed but if the email address does not match a buyer’s alleged name, it’s a huge red flag. Or, a social media profile that lacks details or an image.
- A buyer says they work for a gold purchaser but won’t give you the company name and/or the company has a bad reputation on the Better Business Bureau. You should always check with the BBB before trusting a company.
- The buyer has a reputation as a ‘Bad Apple.’ Luckily, there are many groups popping up on Facebook to counteract online scammers. One group in particular, ‘Bad Apples of Wake County: The REAL Bad Apples’ has almost 12,000 members and posts daily to inform residents of ongoing scams and people who you should avoid doing business with. It’s easy to join the group and you can use the search feature to check if a company or individual has been called out for bad behaviors.
- Finally, if something doesn’t feel right, it probably isn’t. Trust your gut and avoid getting involved with someone who seems illegitimate.
Warning Signs for Buyers
We understand that buying jewelry or gold online at a discounted rate may seem attractive. After all, most of us are on a budget and getting a deal has been made easier with sites like Amazon and Facebook Marketplace. Unfortunately, that discount may turn into a more expensive endeavor if you’re scammed out of your cash with nothing in return. So, here are a few warning signs to avoid a scam when you’re buying jewelry online:
- If it seems too good to be true, like a diamond ring at a very reduced price, it probably is. Avoid buying jewelry that is priced well below retail value.
- The seller has little to no photos of the item or the images they have are blurry.
- The condition and quality are not guaranteed and the seller does not accept returns.
- Characteristics like the total carat weight, setting style, or gemstone quality is vague or not included in the description at all.
- A local seller who refuses to meet in person but asks you to send cash or a money order. If a seller wants to avoid a paper trail, this is a huge warning sign.
Avoid an Online Jewelry Scam
As I mentioned before, it may be attractive to buy or sell your jewelry online. Whether it’s for convenience or to save money, taking the risk and being involved in a scam is neither cost-efficient nor convenient. The best way to avoid an online jewelry scam is to only do business with a reputable company who has been in business for a long time or those that have been recommended by a family member or friend.
To help you avoid being the victim of an online jewelry scam, Mark Andrews offers a free jewelry evaluation for individuals who are interested in selling their items. No need to schedule an appointment, just stop in during business hours to take advantage of this service.