If you’ve lived in the Scenic City for more than a minute, you’ve seen the commercials. You know the ones—grainy, low-budget, and featuring a man with a distinct gravelly voice talking about "gode bouyon." For decades, Rick Davis Gold and Diamonds Chattanooga TN wasn’t just a jewelry store; it was a fixture of Brainerd Road. But honestly, the "friend in the jewelry business" vibe has taken a massive hit lately.
Things aren't exactly business as usual at 5301 Brainerd Road.
While the shop spent years positioning itself as the go-to spot for estate jewelry and quick cash for gold, the reality on the ground in 2026 is a lot more complicated. We’re talking about a saga involving FBI raids, multiple indictments, and a massive liquidation sale that felt more like a crime scene cleanup than a clearance event.
The 2025 FBI Raid and the Fallout
On a Wednesday morning in April 2025, the flashing lights weren't coming from the jewelry displays. FBI agents and local police swarmed the business, cordoning off the entry with yellow caution tape. They weren't just looking at rings. Agents were seen sifting through suitcases and vehicles on the property.
Simultaneously, law enforcement moved to Davis’s home on Missionary Ridge. Aerial footage showed agents going through boxes in the driveway while Rick Davis, seated in an electric wheelchair, watched the process unfold. This wasn't a sudden, out-of-the-blue event. It was the culmination of years of mounting legal pressure and community whispers that had finally reached a boiling point.
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Why the FBI showed up
The feds are usually tight-lipped, but the "court-authorized activity" followed a string of local legal troubles.
- Theft Charges: In late 2024, a grand jury indicted Davis on seven counts of theft. These weren't small-time shoplifting allegations; the value of the items involved was reportedly between $10,000 and $60,000.
- Worthless Checks: By early 2025, Davis was facing charges for passing worthless checks.
- The "Ponzi" Allegations: For years, customers complained to the Better Business Bureau (BBB) and local news outlets like News Channel 9. The recurring theme? People would pay for gold or silver bullion and then wait years—yes, years—to receive it. Some never did.
Rick Davis Gold and Diamonds Chattanooga TN: More Than Just a Shop
To understand why this is such a big deal, you have to understand the "lore" of Rick Davis. He has been in business since the late 1970s, moving to the Brainerd location in the late 80s or early 90s. For many, he was a local celebrity, a polarizing figure who leaned into a specific, somewhat eccentric persona.
But the reputation was always... split.
On one hand, you had people who swore by his estate finds. On the other, the local subreddit and community forums have been a treasure trove of "Rick Davis stories" for a decade. Some of these stories are standard "he lowballed me" complaints common in the pawn and gold-buying world. Others are significantly darker, involving decades-old cold cases and allegations of being a "fence" for stolen property.
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The Great Liquidation of 2025
By May 2025, the store opened its doors for a massive liquidation sale. This wasn't your typical "going out of business" blowout. The proceeds were specifically designated to go toward a crime victim fund to repay those Davis owed money to.
People lined up hours before the doors opened. Inside, it was a bizarre mix of fine jewelry and random memorabilia. One shopper walked away with a Dale Earnhardt Jr. rookie card. Another was looking for necklaces but found only a sea of rings. The atmosphere was part treasure hunt, part somber recovery mission.
What Most People Get Wrong About the Business
Most folks think a jewelry store raid is just about "fake diamonds." That’s rarely the case with a long-standing institution like this. The issues at Rick Davis Gold and Diamonds Chattanooga TN were seemingly more about the movement of money and the handling of inventory.
- The Bullion Issue: Bullion is supposed to be a straightforward transaction. You pay the spot price plus a premium, and you get your metal. At Davis’s shop, some contracts stretched on for years. Customers were told it would be in by Christmas, then Valentine’s Day, then... never.
- The Appraisal Trap: Several BBB complaints detailed a specific pattern: a customer brings in a valuable item (like a high-end watch), Davis claims it’s a fake or "assembled in Pakistan" to justify a low offer, and the customer later finds out the item was authentic.
- The Melting Myth: There has been persistent speculation that stolen jewelry brought to the shop was immediately melted down to prevent it from being identified. While this is a common trope in crime fiction, the volume of theft charges suggests that tracking inventory—or the lack thereof—was a major part of the legal investigation.
Is the Shop Still Open?
Technically, the "Rick Davis" era as we knew it is over. The liquidation sale handled by SIS's Estate Sales in mid-2025 was designed to empty the inventory and satisfy creditors. While the building stands on Brainerd Road, the business is a shell of its former self.
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If you’re looking to buy or sell gold in Chattanooga today, the landscape has shifted. People are much more cautious. They're looking for GIA certifications and transparent, real-time pricing rather than "private deals" behind a desk.
Actionable Insights for Jewelry Owners
If you have dealings with a shop facing legal scrutiny or are simply looking to sell high-value items, here is what you need to do:
- Get Independent Appraisals: Never rely on the person buying the item to tell you what it’s worth. Get a certified appraisal from a gemologist who isn't trying to purchase the piece.
- Document Everything: If you're leaving an item for repair or consignment, take high-resolution photos of the hallmarks, serial numbers, and any unique inclusions under a loupe.
- Check the "Pawn Clock": If you're using jewelry as collateral, know the state laws regarding how long a shop must hold an item before they can legally sell or melt it.
- Verify Bullion Delivery: If you are buying gold or silver, never leave the store without the physical product or a guaranteed, insured shipping date with a tracking number. "It'll be in next week" is a red flag.
The story of Rick Davis is still being written in the Hamilton County courts, but for the residents of Chattanooga, the "gode bouyon" ads are a thing of the past. The focus has shifted from local legend to legal restitution.
If you believe you are one of the victims owed money from previous transactions with Rick Davis Gold and Diamonds, your best bet is to contact the Hamilton County District Attorney’s office or the specific estate sale facilitators tasked with the liquidation. Keep all original receipts and contracts; they are your only ticket to getting a piece of the recovery fund.
Next Steps:
- Check your records for any outstanding bullion contracts or "IOUs" from the shop.
- Contact the Hamilton County Clerk if you need to file a claim against the estate.
- Research local GIA-certified jewelers for future appraisals to ensure you're getting fair market value.