Headlines

Jeweler Must Pay $284,000 in Dispute Over Diamond Quality

Published

8 years ago

September 26, 2016

INSTORE Staff

Two customers sued the jeweler.

Intercarats LLC in Norfolk, VA, and the store’s owner have been ordered by a jury to pay $284,000 in a dispute over diamond quality.

Two customers sued the store and owner Shashank Kamdar in Circuit Court, saying the gemstones they received weren’t of the quality they were claimed to be, The Virginian-Pilot reports.

A jury determined that Kamdar had committed fraud and breach of contract, and that he ran afoul of Virginia’s Consumer Protection Act. The award included money for damages and for breach of contract, according to the Virginian-Pilot.

The plaintiffs were Xiaoming Fang of San Francisco and Bosun Hau of Hong Kong. Both men purchased engagement rings for their wives-to-be.

Hau spent more than $30,000 on his diamond ring, and Fang paid nearly $17,000 for his. They claimed that when they had the rings checked by other jewelers, they turned out to be worth much lower amounts.

Kamdar told the newspaper that he’s “done nothing wrong”, adding that the trial was “one-sided”.

Additionally, Tacori Enterprises is suing Kamdar and his business in connection with the ring sold to Hau. The company is alleging counterfeiting of a ring and trademark infringement, according to the Virginian-Pilot.

Tacori is asking for $2 million in U.S. District Court.

Read more at The Virginian-Pilot

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”