If you've got some ice, you may have the opportunity to get a little more mileage out of it. De Beers, the company that essentially has a monopoly on the world’s supply of diamonds, has agreed to pay nearly $300 million due to a class-action lawsuit against the company alleging antitrust violations.
Who's eligible to get in on the class action? Your diamonds could have been purchased from any jewelry store in the country between January 1, 1994, and March 31, 2006 and you could be eligible to receive anywhere from 6 percent to 60 percent of the original purchase price. Keep in mind that this relates to diamonds bought in any form and from any location — that means De Beers' competitors.
The filing deadline is May 19, 2008. You can file a claim online and find more information at the settlement's website.
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Angie Gooderham
Doh! My fiance bought mine in Nov of 06. But we went to an independent jeweler. I don't know how much he paid, its none of my business, but I know he didn't get ripped off.
1Whoa...
2Thanks for investigating this and putting up a post!
3I have an engagement and wedding band full of diamonds, plus necklaces and earrings from my ex-husband. I would totally submit for this but if they need me to prove it all the receipts are in his name so I don't think i can after reading the fine print.
4Also, this seems a little too good to be true, if you bought a diamond anywhere you can get money. I don't know.
It's about time. DeBeers is a monopoly, and a creator of a false monopoly at that. Diamonds are NOT rare. If you are really willing to pay inflated prices for beauty- well, buyer beware.
5Hmmm I bought my bf's diamond earrings between that time...
6My diamond studs I bought in 2000 and Lord and Taylor!!!
7Of course, we all know who the major folks are to profit from this case -- not you and me, but the lawyers! Yea! Class action suits on behalf of the little people are bread and butter for these law firms.
8Ah, how funny, I was just faxing something for my boss (I work for a DC diamond importer) about this lawsuit earlier...
9Yay....new diamond studs for me!
10thanks for this tip
11i'm so going to do it!
Belated thanks for this tip. My husband and I are going to look into this since my engagement ring and wedding band were purchased in this timeframe.
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