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Devonshire Diamonds Inc.

Phone: (416) 907-4500

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Customer Complaints Summary

1 complaint closed with BBB in last 3 years | 0 closed in last 12 months
Complaint TypeTotal Closed Complaints
Advertising / Sales Issues1
Billing / Collection Issues0
Problems with Product / Service0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints1

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (1)
07/25/2014Advertising / Sales Issues | Read Complaint Details
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Complaint
Was sold two diamonds based on false appraisals of fair market value. Devonshire/*** refuses to help resell/refund/trade to help recoup my money.
I received a proposal from Devonshire in 2011 to accept my diamond ring in trade plus $56,085.75 cash. The total price of the two diamonds was shown as 93,350.00. I was provided with appraisals listing the total replacement value of the diamonds at $163,863.00. I was assured that the diamonds would only escalate in value. Now needing to liquefy my investment nearly three years later, I've learned that the fair market value of the two stones is only in the range of $16,000.00 (auction estimate) to $35,000.00 private investor. Devonshire has refused to help resell the loose stones, or take my stones on trade for a better quality diamond. I've been told by their competition that if Devonshire were reputable, they would refund my investment. I've been bilked for at least $50K and am now considering all avenues to help recover my initial investment.

Desired Settlement
I would accept a trade for the right diamond stone(s) that have a fair market value in the order of my initial investment of $93,350.00. I would want to have the proposed stone(s) appraised independently before accepting the offer.

Business Response
We have spoken with our client and are doing everything possible to sell his investments. We have posted them on our online auction as well as our website and will be keeping in regular contact until we are able to sell.

Consumer Response
(The consumer indicated he/she ACCEPTED the response from the business.)
I accept the offer to try and sell the diamonds; however, sell prices or auction reserve prices have not been discussed.

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Diamonds

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As a matter of policy, BBB does not endorse any product, service or business.

BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.