The qualities that make diamonds "a girl's best friend" are the same qualities that make them (and other jewelry and luxury items) attractive to fraudsters.
- Diamonds are high-value, highly-desired goods.
- Diamonds don’t lose their value over time (in fact, they may even increase in value).
And even more important to fraudsters:
- Diamonds store tremendous value in a small footprint, making them easy to warehouse (e.g., a $5,000 diamond ring takes up 2 inches of space, much less than a $5,000 4K Ultra HD 75-inch TV).
- They can be easily turned into cash without significant discounting from the retail price.