Are diamonds pretty much the same price overseas?
- Thread starter _Sarah_
- Start date
- Status
yellowsparkles
Shiny_Rock
- Joined
- May 21, 2006
- Messages
- 312
Sarah,
I am an American living in the UK and I would have to say that diamonds are much more expensive here. I haven''t seen a lot of "large" diamonds in shop windows (1 ct or more). The exchange rate is 2 to one, so the stones are really twice as expensive. I was in South Africa about 5 years ago and I did do diamond shopping there. At that time, I would say prices were comparable (when considering I could claim VAT refund at airport). However the problem was working with vendors. Unless you have a lot of time, or are very knowledgable about diamonds you could probably do well. For me, I didn''t know much about diamonds and I didn''t feel comfortable making such a large purchase. If there was a problem later - I would not be able to work that vendor.
I really feel you can do better working with vendors in the US - IMHO. If I were to buy something like that in my travels, it would have to really catch my eye - something really unique that I couldn''t buy at home.
Hope this helps.
I am an American living in the UK and I would have to say that diamonds are much more expensive here. I haven''t seen a lot of "large" diamonds in shop windows (1 ct or more). The exchange rate is 2 to one, so the stones are really twice as expensive. I was in South Africa about 5 years ago and I did do diamond shopping there. At that time, I would say prices were comparable (when considering I could claim VAT refund at airport). However the problem was working with vendors. Unless you have a lot of time, or are very knowledgable about diamonds you could probably do well. For me, I didn''t know much about diamonds and I didn''t feel comfortable making such a large purchase. If there was a problem later - I would not be able to work that vendor.
I really feel you can do better working with vendors in the US - IMHO. If I were to buy something like that in my travels, it would have to really catch my eye - something really unique that I couldn''t buy at home.
Hope this helps.
Thanks, it does. he was unable to propose before he went on deployment and he is hoping to find something over there, i dont know how into shopping on the internet he is especailly for this... but thank you for you help. im new to ps recently and know a little but not much, he is doing the shopping and buying i just send him ideas of what i like. unfortunately this is probably going to make things even harder for him. have you done much business with whiteflash or any one highly recomended by this site? was it easy to do or was it a challenge to get things the way you wanted them?
yellowsparkles
Shiny_Rock
- Joined
- May 21, 2006
- Messages
- 312
Sarah,
I hope others chime in also. I don''t want to tell you and your boyfriend NOT to buy something. If he feels more comfortable buying something in person , then maybe he should. I am not sure what you are wanting. You could do some online searches, just to get an idea of costs and then he can compare that with what he sees overseas. I just bought a pair of earrings from Whiteflash and found it very easy. However, earrings for me are not as important as a stone for my e-ring. I know there are others here from overseas (UK, Europe) who have bought from online vendors in the US. It seems that they have had very good experiences. I personally would have no problem buying from WF, ERD, Leon Mege -those are the ones I have talked to personally and I feel very comfortable with them. OF course there are others such as WINK, James Allen and GOG (and many more) that get high ratings.
If I were you, take your time and learn all you can before making a purchase. That way you will find something you will love and not be dissapointed later.
Date: 5/16/2007 3:44:22 AM
Author: yellowsparkles
Sarah,
I hope others chime in also. I don''t want to tell you and your boyfriend NOT to buy something. If he feels more comfortable buying something in person , then maybe he should. I am not sure what you are wanting. You could do some online searches, just to get an idea of costs and then he can compare that with what he sees overseas. I just bought a pair of earrings from Whiteflash and found it very easy. However, earrings for me are not as important as a stone for my e-ring. I know there are others here from overseas (UK, Europe) who have bought from online vendors in the US. It seems that they have had very good experiences. I personally would have no problem buying from WF, ERD, Leon Mege -those are the ones I have talked to personally and I feel very comfortable with them. OF course there are others such as WINK, James Allen and GOG (and many more) that get high ratings.
If I were you, take your time and learn all you can before making a purchase. That way you will find something you will love and not be dissapointed later.
Thank you for your advice, i didnt even realize it would be like that. i should have at least cought the price difference since i have messed around with the currency exchange calculator for hotel prices... And really its not even up to me he is doing everything. he wants is all to be a surprise, which i love, but right now i know he is really busy and doesnt have the time to really look at things. I have told him to come here when he gets the chance, he is the type of guy to research everything important or expensive he buys, which is good, and i truly think he could do no better than to come here. But i try to help by answering questions i know he will have, like this one.
I would like to hear from others as well, to see if they have had a somewhat easy time finding diamonds and the perfect setting on line. Can the diamonds be shipped to a jeweler near by so you can see them or do you just go off of the word of the jeweler or someone like Mark?
- Joined
- Apr 30, 2005
- Messages
- 42,064
CatherineMcGr
Rough_Rock
- Joined
- Oct 22, 2005
- Messages
- 16
I''m in the UK and we bought a diamond ring from Whiteflash last year. We trusted them based on what we read on this site. We reckoned that nobody could set up a fake site like Pricescope with so many photos of real people and their rings etc and we went with the good recommendations on here. It was still nerve-wrecking, wiring the money, knowing that we would have lost it if the company turned out to be fraudulent..............but it was a great experience and still worth importing even though we had to pay 2 and a half % import tax and 17% VAT. My diamond is gorgeous. Diamonds are definitely twice the price here and most jewellers don''t mention cut. In fact most people here associate beautiful sparkly diamond with low colour or clarity and think cut refers to the shape (round/oval etc). My diamond is only .6ct but quite large by UK standards and the most usual comments I get are "That must be a nearly flawless diamond - look at how sparkly it is" or "Wow, look at the sparkles of your diamond - it must be a D colour". It''s an H VS2. I just take the compliments and usually don''t bother to enlighten them as it would take too long and they wouldn''t believe me anyway.
yellowsparkles
Shiny_Rock
- Joined
- May 21, 2006
- Messages
- 312
Sarah,
To answer question....You can have the vendor ship the diamond to an appraiser near you and they can look at it with you. The ideal thing would be to find a couple of stones you like and have them both sent to an appraiser and you can pick the best one. Or, you could buy the diamond and if you didn''t like it return it within the return period.
The good news is that your boyfriend wants to do research before considering such a large purchase. It is difficult to buy something like a e-ring while working/traveling. I hope he joins Pricescope - I don''t think he will be dissapointed.
CrookedRock
Brilliant_Rock
- Joined
- May 8, 2007
- Messages
- 1,738
Hey there! I don''t know alot about this stuff but I do know that you can buy amazing diamonds in South Africa if you don''t care if its GIA. I have a realy good friend who brings diamonds back from there and they are huge, beautiful and about a quarter of the price. The currency exchange in South Africa might have something to do with it... Good luck!!
- Joined
- Jul 21, 2004
- Messages
- 9,159
I beg to differ.
#1 Shipping diamonds around the world is easy and relatively inexpensive. FedEx, DHL, UPS and others offer services that weren’t available a few decades ago that are fast, inexpensive and reliable. For a dealer doing it regularly, shipping from SA to the US, UK, Japan or any other market of their choice is less than 1% of the value of the goods. Information flow is instantaneous and free thanks to the Internet. Every serious dealer knows this and most of them do it on a regular basis.
#2 Margins on diamonds are tight, and getting tighter by the day. If they could get 4x their money by selling their goods through their friend/child/brother-in-law in the US, you can bet that this is what they would do. If you could reliably buy diamonds at ¼ prices in SA they would be sold out in a matter of minutes to savvy overseas dealers who are looking to push up their own margins back home. The world is a tiny place.
#3 Import taxes in the US for unmounted diamonds are set at currently 0%. There are plenty of countries that charge more than that, including the UK, which is the biggest reason prices for comparable goods are so high there.
#4 GIA, AGS, IGI, EGL, HRD and every other major lab are global businesses. Many have offices or ‘take in windows’ in the major trading centers throughout the world to help facilitate the shipping issues and all are thrilled to do business with overseas clients. On all but the least expensive stones and from the most expensive labs, the cost of the inspection, report and related insured shipping is all under 2% of the cost of the stone.
#5 The largest, most competitive and most transparent marketplace for diamonds that the world has ever seen is the US Internet market. Nothing else even comes close. There are fine reasons to shop with local stores or to pick up a souvenir while you’re traveling overseas but for US residents buying stones off of the numbers, the best prices are right here. Protection by US consumer protection and banking laws is just a bonus.
It’s not the location of the stone that makes the difference. It’s the character of the people behind the counter/keyboard and it’s the accuracy of grading (which is the same thing). If a dealer in SA or anywhere else is telling your friend that he’ll sell diamonds at ¼ of the prices that he could get in the US, he’s lying. the only question is to decide what he''s lying about.
Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denverhttp://www.gemlab.us/
surfgirl
Ideal_Rock
- Joined
- Apr 5, 2007
- Messages
- 4,438
I used to live/work in the South Africa area and I personally would never have someone buy a significant diamond purchase there unless they really truly knew what they were looking for and at. I''ve found that diamonds are not a bargain in SA. They like to make you think that''s so since diamonds are big business down there. But honestly, I dont even know if every diamond you see in SA is actually FROM SA. Anyway, all this is to day that - with all due respect to Crooked Rock - I''d like to see the kind of stones their friend is bringing back before I made that kind of purchase. But that''s just me, I''m cautious about these things...
yellowsparkles
Shiny_Rock
- Joined
- May 21, 2006
- Messages
- 312
The prices are in Rand but the vendors are very sharp and experienced dealing with tourists. They will quote you the price in Dollars and even tell you that you will get such and such % back when you claim VAT back at the airport. Seriously, in my looking at diamonds in SA the dealers do not talk about CUT... they will tell you size and color first. I also thought that MOST diamonds mined in SA are shipped to Antwerp or other cutting centers... Isreal, NY etc.
just my .02
- Joined
- Jul 21, 2004
- Messages
- 9,159
Currency fluctuations at the dealer level will have no significant affect. Dealers will sell to whatever marketplace and at whatever prices they think will get them the most money and the currency thing is self correcting. If they could make even a few percent more by selling Yen, Yuan Dollars or Swiss Francs, that''s what they''ll do. Prices change weekly and this is part of it.
If you are buying from a consumer who is reselling a diamond that they no longer want or from a retailer that is carrying old inventory you may be able to capitalize to some degree on currency related issues but on new production this is not a choice. The marketplace is much more global than that.
Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
Maisie
Super_Ideal_Rock
- Joined
- Dec 30, 2006
- Messages
- 12,595
One more question, what is the VAT%? I have not heard of it before, this is our first time looking into diamonds over seas so I dont know what all in involved whether its buying overseas or through a company in the US and having it shipped somewhere so he can see the stone. Does the VAT% apply when you get the diamond shipped overseas to be seen or purchased... and also do any of the vendors here at ps have a military discount?
yellowsparkles
Shiny_Rock
- Joined
- May 21, 2006
- Messages
- 312
Sarah,
I think I am a little confused. Where are you? Your boyfriend is overseas right (Europe / SA)?
If you boyfriend buys a diamond in South Africa a part of the price includes VAT (value added tax) or sales tax. They include it in the price the vendor quotes you. In the US, our tax is not included but is added on to the sales price. So, If you Boyfriend buys a ring in SA and is leaving the country (I am not sure of the time period -but this purchase scheme is geared for tourist to encourage them to buy goods) he fills out a form at the airport and claims the VAT back. In the UK it is 17% and I am not sure of South Africa. Anyway, you get the VAT back minus a "processing fee" usually 2% - so you don''t actually get the whole VAT back. The vendors in South Africa are very familiar with this scheme and can explain it to him. Where will he be? Will he be in a city that is easy to shop for diamonds?
Now I am not sure of why you want to ship a diamond from the US to overseas for him to see. How long will he be gone? It will be costly and FEDEX will make you pay the appropriate taxes (as explained in a previous post). Does he have an APO address? I had earrings sent to me through an APO address here in the UK.
Is your situation such that your Boyfriend will be overseas a long time? If you decide to buy in the US he will want to see it while he is overseas?
As for your military discount. Yes, I know SignedPieces off a military discount. Probably Facets too.
I hope this helps.
- Joined
- Oct 21, 2004
- Messages
- 5,096
Maisie
Super_Ideal_Rock
- Joined
- Dec 30, 2006
- Messages
- 12,595
Sorry to be confusing...I am here in the US. My bofriend is Europe, going different places almost every week. They are supposed to spend quite a lot of time in South Africa but the Navy does not tell where so far in advance. Im sure even then they will be moving around to different ports quite a bit in Africa also. But he wants to do the shopping and buying by himself, he wants it to be a surprise, and so do I. But I love jewelry and diamonds and such and so I cant help but try to figure a few things out for him so he gets something really good. I dont know whether he will be comfortable buying a stone without seeing it so I wondered if it was going to be possible for who ever he goes through ( if he goes through the internet and/or someone recomended by ps, ive told him to come here) to ship it somewhere so he can see it. I dont know maybe he will be satisfied with photos of the stone, after hearing everything today I kind of hope he will only need to see pictures...
I hope this is more clear...
So let me see if I get this right.. sometimes I''m really bad at understanding the way things work... so the VAT is deducted when you get to the airport to come back home, and there is a processing fee that costs about 2% so you dont get all the money from the VAT that you paid. is this right?
And another question, if he does buy something overseas he isnt coming home until late October so when he leaves the country that he bought the ring or diamond in is that when you get the VAT back, since he''s on a ship does it make a difference?
And another question, if he does buy something overseas he isnt coming home until late October so when he leaves the country that he bought the ring or diamond in is that when you get the VAT back, since he''s on a ship does it make a difference?
yellowsparkles
Shiny_Rock
- Joined
- May 21, 2006
- Messages
- 312
That is what I thought. I understand what you are asking, but honestly, I dont see how that is possible. does he have an address at these ports of call? It costs quite a bit of money for a US vendor to send a stone overseas and then to send it back again. yes, this is possible, but is it realistic? I understand, It is a big transition to buying something like a diamond on the internet. I hope your boyfriend realizes that he will get a lot more information about a stone from one of the trusted online vendors than he will from a local vendor at a port of call. That is great that you are trying to help him out. I hope he is looking at pricescope before he visits the shops in SA. It is best to have some sort of knowlege and he can always take the specs of the stone he sees and plug them in here and see how they score.
If your boyfriend wants to see it first that is great. If he feels comfortable buying something during his travels, then fine. That is his call. I guess I don''t understand why you both don''t wait until he comes back to the USA to buy a ring. You both will have time to learn about CUT and the other C''s.
Good luck with your search and congrats on your future engagement.
Thanks! Well we have been talking and looking for about a year now and he was going to propose before he left but he didnt get his bonus in time to do so. But as sad as it seems (to me anyway) he is probably going to wait until he gets back any way, so far he has been way to busy to do any looking, I think, he wont tell me. I guess he is the one who really needs to be on here asking the questions and learning everything about diamonds. I already know some from looking before ( we had picked something out together but it has become his fall back if he doesnt find something better.) and from lurking for a month or so on ps before registering, this place is really helpful. But he is the one who needs to come here. Thanks for everyones help and advice!
- Status
Past, Present, Future: The Meaning of Three-Stone Engagement Rings
Past, Present, Future: The Meaning of Three-Stone Engagement Rings - 04/14
300x240.png)