The RealReal, a luxury consignment company, is facing the consequences from the US federal courts for overstating the weight of gemstones online. According to Plaintiff Gaby Basmadjian, the company “systematically inflated the total weights of small uncertified gemstones knowing that the average consumer would have no way to know the weights were conflated.”
Basmadjian bought a ring from The RealReal for $982.62, assuming that the ring had 2.10 carats of diamonds as it was stated on the company’s website. When she took the ring to be evaluated by a gemologist, results showed that the ring only contained 1.2 carats of diamonds.
Basmadjian is hoping to claim the difference for what she is owed, as well as “what the jewellery would have been priced at with the correct gemstone weight.” She is also asking for money to be refunded to other customers who purchased jewellery from the luxury consignment company after December 1st, 2013, “where the weight of gemstones indicated on the product label exceeded the actual weight of the gemstones in the jewellery by more than 1/100 of a carat.”
Although TheRealReal is based in San-Francisco, they do offer international shipping to Canada.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
