Canadian diamonds cut in Canada (review and question)

[Cachette]

My local jeweler called me and asked me to come in to see the new Canadian diamonds that have been cut and polished in a new cutting facility a few hours away from us (Sudbury, ON). We've been waiting for these for months since they announced the opening of the facility!

He bid and won 11 diamonds and by the time I got to see them (I was away on Holidays), he only had 3 left. He said they sold very quickly. The heaviest he received was one about a carat in weight and the remaining 3 were some of the smallest - a .61 (didn't see this one, it was sent out to be mounted), a .51 and a .48 which I did see.

The .51 was a J SI1 and the .48 was a D SI2. They were both eye clean (IMO) and were GIA certified and both were graded Excellent on the cut scale (saw the certificate). They were both mounted, one in a 14k yellow gold setting and one in a 14k white gold setting (very plain cathedral settings).

I used my loupe and my little Ideal Scope and they looked really, really nice. The diamonds were clear, bright and sparkled like crazy. In my opinion they were spectacular!! They both had no florescence but they were so clear they looked glacier icy, even the J faceup. Compared to the usual inventory my jeweler carries, these diamonds really stood out and it's no wonder they sold quickly.

Now my question is. They were both selling for the same price; $2,995 Canadian (for the .51 J SI1 and the .48 D SI2 - mounted of course). Is this overpriced or in the correct range for Canadian diamonds? I did a quick search online for Canadian diamond prices and they came out lower then what my jeweler is selling his for but these weren't cut in Canada, only mined. Is there now a higher premium for mined and cut-polished in Canada diamonds?

Thanks.

Cachette

 

[stone-cold11]

Canadian labor cost is higher for one.

 

[Cachette]

Thanks Stone-Cold. Of course, that makes sense.

Then it makes sense that the premium on Canadian diamonds will now be even higher then when they were cut-polished outside the country.... Still not sure if my local jeweler's prices are fair though....

Because there is no precedent (the diamonds I saw are some of the first ones distributed to be sold publicly) I have nothing to compare the prices to. I know that Birks is also selling these diamonds but I'm no where near one to compare prices and they have nothing listed on their website other then a list of venues at various locations showcasing the diamonds.

Cachette

 

[CharmyPoo]

Is there a reason why you want to buy a Canadian diamond?

 

[Cachette]

CharmyPoo - not really in the market to buy a Canadian Diamond at all right now. I'm actually saving for a big upgrade and I know that I won't be able to afford a Canadian diamond premium and get the size that I want. I know that I can get an awesome (big!) diamond from any of PS's many vendors; I've been around here far too long to know better. I'm just curious about these newly Canadian cut ones that's all. I think it's kind of cool that the DeBeers mine (Victor) and new cutting facility are close to me so I want to learn about them and the diamonds' worth on the diamond market.

Cachette