DeBeers Settlement - Diamond Rebate for those within the US

  1. Don't know if this has been posted yet since I can't search the boards, but I thought this may be of interest to some of you.

    Diamond Class Action Settlement
     
  2. Wow, so we should apply for this if we purchased any diamond within the timeframe?? Who else is doing this???
     
  3. I saw this and I have not yet read all the details, but I was thinking of doing it- I have purchased a decent amount of jewelry and even a three stone one carat diamond ring for my mom in the time frame. I need to sit down and look at all the details this weekend. Most class actions are not worth being a part of, if you are looking for any type of financial return though, so I'm going to see if it is even worth the hassle of paperwork.
     
  4. ^^ yeah, let's figure out if it's worth it, my feeling is we'll probably be entitled to like $2.13 or something like that....lol....most class actions wind up giving the individual consumers very little no matter how big the initial amount is : (
     
  5. I wondered the same thing, is it going to be worth it?
     
  6. Although hopefully this settlement (while I know its not the first) will keep De Beers from artifically pushing the price of diamonds up so we may all purchase our diamond jewelry at more affordable prices!! :smile:
     
  7. I would join in just on the principle of things. And for the fact that DeBeers has its hands full in blood diamonds.
     
  8. looks like this table has the maximum consumer amounts - but the payouts will be pro-rated based on the number of claimants

    Item Purchase Price Recognized Claim Percentage

    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 - $999 27.5% of the retail price
    Diamonds Only Jewelry $1,000 - $5,499 32% of the retail price
    Diamonds Only Jewelry $5,500 - $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

    sorry - the table didn't paste very well
     
  9. I'm looking into it for me now. . . we made almost all of our big purchases in that time frame. . . sadly my newest upgrade didn't make it!
     
  10. We made several purchases in that time-frame also....but alas, my newest diamond anniversary ring that my husband bought me for our 25th anniversary missed by a few months.
     
  11. On the claim form it reads....

    The purchases you may include are those you made from a De
    Beers owned Diamdel, De Beers Polished Diamond Division or De Beers Diamond Mining Competitors, such as
    Aber, Alrosa, Argyle, BHP Billiton and Rio Tinto, or affiliates of De Beers Diamond Mining Competitors, during
    the period September 20, 1997 through March 31, 2006.


    How does one find out if a private Jeweler or other jewelry store is included in this lawsuit??? So if you purchased from say ABC Jewelers or even Tiffany your purchases are not included???
     
  12. They give an 800 number that you can call. Has anyone contacted them??
     
  13. ::bump::

    Just wondering if anyone knew of any new information(?).
     
  14. I'm getting the paperwork on our purchases from our broker. These are the payout numbers? Hard to believe these number in a class action lawsuit.
     
  15. I think that those are the payout CAPS, so the more claims that people make, the more the payout becomes diluted, and the less you get.