Robert James FGA, GG, President, International School of Gemology, thinks that both JTV and GemsTV are violating FTC guidelines against deceptive pricing.
How? You know the game ... they tell you that the gem they are practically giving away for $39.99 used to sell for $3690! Wow! What a bargain!
But does the gem really sell for $3690 anywhere? Did they ever even sell one even close to that price? Is it really worth that?
Check out these screen shots that he captured:
He is also withdrawing his support of the huge JTV class action settlement over the andesine issue. He wants a full jury trial so all the documents can be made public.
I think that the bottom-line issue is that the jewelry business is built on trust--we believe that the ring is a natural ruby set in 18k gold and is therefore worth a certain amount of money ultimately because they say it is. When this basic trust is eroded you might as well buy from any old Tom, Dick, or Harry on eBay.
His article is quite informative. Check it out here.