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White Pine Trading

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White Pine Trading Reviews (3)

Review: WP [redacted] failed to give me the correct appraisal value for Items received. The offer for the items presented was $251 as stated on the agreement. I proceeded with the sale of the items by providing my signed contract, Photo ID, And My banking information. I was later notified that the wire room had a issue with getting the funds to my [redacted] Account and the funds were returned to WP [redacted] Less a $40 dollar fee . WP [redacted] the wire me $211 which again was not in the contract or note that I would be charged for a company error. That wire was received however My Bank charged me a additional incoming wire fee of $15. Which I relayed to the agent that I would be charged that Fee. The agent assured me that it was False and I would be charged. The total Amount I received for my items was $196. I have sent Numerous emails to [redacted] and still have not recovered any of the lossesDesired Settlement: I would like to Reimbursed as the fees were not on contract, or I would like my Items returned

Business

Response:

The complaint from our client involves two matters. We do not like to be in a situation where any of our customers feel the necessity to contact the Revdex.com. In this situation [redacted] acted with speed and in good faith.

1). An issue with the crediting of funds to the client's account

2). Information given from [redacted] which our client feels was inaccurate

This is the timeline of events:

Client created an inquiry Feb [redacted]

We received the client's package at our offices for evaluation and final offer April [redacted]

We presented the offer to the client after final valuation April [redacted]

The client then requested their item returned after rejecting the offer April [redacted]

The client then changed their mind and accepted our offer of $251 April [redacted]

[redacted] sent the Purchase Agreement with full instructions at 9:40 am April [redacted]

The client then sends an email to us telling us that there is a charge to receive the wire for $15 April [redacted]

We informed the client that there is no fee for receiving the wire, which we have subsequently found to be inaccurate for Non Advantage members April [redacted]

Client confirmed the wire details twice to [redacted] April [redacted]

WP sends the wire as per our operating process almost immediately, as we find our clients appreciate swift transfer of funds April [redacted]

Our client emails WP to say he sent the wrong wire details very early in the morning April [redacted]

We replied to customer saying there would be a bounce back as soon as our office opened April [redacted]

The client emails asking for an update April [redacted]

WP tells the client that we have received the wire back and we were charged $40 for the bounce. We have a copy of the bounce information from the bank and can produce this to the Revdex.com. April [redacted]

WP sends a copy of the transaction highlighting the bounce and charge. We wired the remaining amount instantly after we got the bounce back, as it was not our fault we were charged the $40. April [redacted]

Customer then requests his items are returned as he was unhappy with the final amount - by which time we had already paid the $40 fee which was automatic and in good faith, we wired the amount April [redacted]

The WP [redacted] calls the customer after the problem was escalated, to tell him that the transaction has already been processed and would consider reimbursing the $15 fee if it was found that we were in the wrong, which we are now happy to do. Post April [redacted]

WP spends some considerable time thinking over the situation without processing the $15 fee and the customer contacts the Revdex.com.

WP is happy to settle that amount as this part of the process was inaccurately performed by the company and we apologize for any distress caused. The other elements of the transaction we performed to the best of our ability and in good faith. We have now taken the steps to inform everyone internally about bank fees for [redacted] (Non Advantage) to avoid this happening.

We have now paid the client the $15 to cover our mistake and the client has received the funds.

CONCLUSION:

We have acted in good faith regarding the transfer of funds for the transaction and it was an error by the client that has caused this issue when they incorrectly supplied their bank details. The bank charge was made directly to [redacted] and we refunded the remaining amount after this deduction in the quickest time possible to the client.

We recognize that one of our customer service team provided incorrect information to our client. As this was our fault, we have compensated the customer for this amount. We have since adjusted operating procedures surrounding [redacted] to cope with this new information so that no further clients will be in this same situation.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

[Your Answer Here]

WP [redacted], Left no room for Error. Wire Processing Errors are common. and should not result in a charge to the seller

Wp [redacted] failed to mention in the contract to Seller that any incorrect wire information will result in a charge to seller.

Seller was not paid the contracted price

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Business

Response:

The 2nd part of the complaint revolves around the [redacted] procedures in handling payment issues. The client has said that we left no room for error. Our website and email materials express the speed of our service. Nothing was wrong with our procedures, we paid the money to the bank details originally sent very rapidly and it was not our fault that we were supplied with incorrect information. We processed the 2nd wire minus the fee equally as rapidly as speed is an important factor to 95% of our clients. Wire processing errors are not common with our clients they represent much less than 5% of all our transactions. The client has expressed the fact that he should not have been responsible for the charge. The fact remains that [redacted] were charged $40 because of the client error and amount it was the clients responsibility to provide the correct bank details. The seller was paid the contracted price minus the $40 fee. The total amount paid by WP[redacted]s was the contracted amount. It is not a sustainable position for a business to pay costs outside of its control. We sympathise with the client that they have been unhappy with the experience and its our express goal to ensure that our clients are happy and positive with their dealings with the company.

Review: I sent 5 rings to WP Diamonds hoping they would purchase them. When I received a phone call from customer service, she said the largest diamond of all 5 pieces measured 20pts., and that the total diamonds of all pieces was 1.3ctw. She also offered a purchase price of $390. I tried to explain that couldn't be right because I knew the biggest stone in the engagement ring was either a 3/4ct or 2/3ct. She guaranteed me that packages they receive are opened under security cameras and that it is impossible to get customers or items mixed-up. She assured me that their assessment of the rings was accurate and that their only offer was $390. I told her to send the rings back. I did find the bill of sale for the ring with the biggest stone. It measured .89pts, a far cry from their "accurate" assessment of .20pts (2/3ct. difference). The ring appraised for $1050.00 in 1993. This is just a single solitaire diamond ring and not taking into consideration the other 4 pieces I sent in (which she said the make offers on entire packages, not just a single piece).WP Diamond's assessment of the package of 5 rings was certainly not accurate. The offer of $390 felt like a slap in the face to me. As an aside, in an email to the customer service representative, I stated that a pawn shop would offer me more. She replied that a pawn shop would certainly not offer me more. I took the rings to the local pawn shop....they offered $1500.00 for all 5 pieces.Desired Settlement: One of the primary reasons I sent my diamond to White Pine Diamonds is because they had no record of complaints and a high rating from the Revdex.com. I would like others to know what has happened to me and if they do decide to send their diamonds, to have a fairly accurate idea of what the rings are worth before sending them.

Business

Response:

The customer complaint revolves around the pricing for the items that were sent to WP Diamonds for purchase.

The customer was classified as a self-send customer which means that they did not have enough detail on the initial inquiry or through subsequent correspondence for us to provide the customer with an initial price range. This was because of the missing color and clarity information in the initial inquiry and the lack of detail provided for the other items they wanted to sell. Because of this lack of information we could not set expectations on pricing before seeing the items.

We also could not provide the customer with free shipping and insurance for this same reason as our insurance company does not allow us to ship in items on our customers behalf if we cannot place a value on the worth of the shipment. This places the responsibility on paying for shipping and insuring the item on the customer and its entirely their choice to send and pay those costs.

The self send option is provided to let customers send to us if they take on the responsibility of the shipping and insurance and are willing to get an offer from WP Diamonds with no indicative price range before sending.

In total we received partial information about 1 of the items only.

The particular case involves a shipment with that contained only one diamond with any material value. The ring from the main inquiry came to us with a much lower carat weight than stated in the initial inquiry. It turned out to be a .20 stone in reality vs a .75 stone stated within the initial inquiry. The stone is a Marquise stone and .20 carat stones of this shape contain only a very small value in todays market. The other rings contained only very small diamonds of under .15 in weight and therefore have mostly an aesthetic value vs monetary value in the wholesale market. If you put enough of these stones together you create value but only a few of these on their own do not create any real value in wholesale market and so therefore we could not pay very much for these diamonds.

We weighed out the gold and put a very small value on the other stones and came to a price we were comfortable paying. If the customer received a much higher price elsewhere it is our opinion that the other company overpaid for the items if they are operating in the wholesale market. We do not believe it is possible for the company to make a profit on selling those items back in the wholesale market where the gold and the diamonds are sold on separately and not as a jewelry item. If they sold the rings as jewelry at retail that is a different market to the market WP operates in.

The customer complaint is a pricing complaint and not a service complaint. We returned the items without a complaint and its within the customers rights to have their items back if they did not like the price and we can understand the customer not wanting to accept our price in this instance. This is part of our service.

Review: 2 weeks ago my cousin brought in my grandmother's 6 carat diamond ring. Mark S[redacted] examined the ring and offered us $100,000. My cousin asked if they needed any additional GIA or other certification and Mark say no. We accepted the price and sold the ring. They gave us 4 personal checks for 25,000 each. A week or so later, they stopped payment on 3 of the checks, and demanded the remaining 25k in return for the ring stating that the ring was treated. Since the ring treatment test takes 30 seconds in the office where the ring was sold,this could and should have been done at time of sale. We think they are trying to return a different stone. Additionally the ring has been in my family's vault since the 1940's and could not possibly have been treated since the treatment didn't become commercially available until the 1990'sDesired Settlement: pay the remaining 75,000 as in the contract.

Business

Response:

This issue has been resolved to the satisfaction of all parties, with payment having been made in full.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.Has been resolved completely.

Sincerely,

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Description: DIAMOND BUYERS, JEWELRY BUYERS, JEWELERS-RETAIL, WATCHES-DEALERS

Address: 535 5th Avenue  18th Floor, New York, New York, United States, 10017

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