Are Engagement Rings cheaper in the Middle East?

[h_dog2]

hello, I am very new to diamonds (engagement rings), I am starting to do some research and look for a ring for my girlfriend.

I live in Canada but I have a friend who said that purchasing a ring in Dubai is the way to go, and he has even offered for me to show him the ring that I want and he would bring one back for me (he said even with the customs paid it is cheaper than in north america). I am leaning on trying to find a style that I like and then getting my friend to buy one. Does anyone know if diamonds in general in Dubai, are there any pro''s or cons? I am figuring that if i give him pretty narrow specs and a price range that I am not any worse than finding a similar ring off the internet.... any suggestions or comments would be greatly appreciated.

 

[neatfreak]

Let''s put it this way. Pretty much every foreign person that frequents this board ends up buying from the US. So I would venture to say that your friend isn''t necessarily comparing apples to apples.

 

[h_dog2]

Ok, that is good to know. I really am starting to just search for an engagement ring, there is so much to know about buying one, so I am finding it very difficult to compare apples to apples regardless!

I was not sure if it was a known fact that Dubai was the place to go (of course my friend has brought back alot of gold jewelry, so I assume he''s getting it at a decent price).

 

[bem3231]

In my opinion, one of the main differences between purchasing a stone from a reputable internet dealer vs. overseas is that most reputable internet dealers have very good return policies. They will also work with you to figure out exactly what would best meet your needs and help you to find something within those specific perameters. If you get something and for whatever reason decide once you see it that it''s not right for you then it can be returned. Dealers such as goodoldgold also have lifetime tradeup policies and such, whereas once you purchase a stone from Dubai you''re pretty much stuck with it I would imagine.

We live in Canada and just purchased my stone from goodoldgold. They were amazing to work with, and with the excise tax on diamonds having been removed in 2006 you can get alot of bang for your buck. Just my two cents...

 

[bem3231]

One more thing - although your friend may be bringing back lots of gold that he''s getting for a decent price, as you do additional research into diamonds you will find that there are so many variables to account for. You might get something for a ''decent price'', but upon closer inspection it might suck, or might not be what you thought that you were purchasing. Gold is pretty much gold - there are many more vagaries when purchasing diamonds. If you did choose to get something overseas I would absolutely not commit to a purchase until you had it independently appraised by a reputable appraiser, which might be difficult to orchestrate.

 

[h_dog2]

Thanks for the comments, you make some good points. I will question my friend regarding Dubai, i''m not feeling as good on this route as before now!

I was thinking I was going to get a great deal on an engagement ring!

Any idea what sort of excise tax there is on a ring purchased from the US?

 

[bem3231]

I did quite a bit of research on this before we purchased in the US and my understanding is that excise tax on jewelry was dropped in 2006. There''s a thread on here from today re: Canadians purchasing in the US - just read down a bit and you''ll find it. You should only have to pay GST and PST if you''re not in Alberta (I live in Calgary).

 

[canuk-gal]

Date: 1/6/2008 8:52:59 PM
Author: h_dog2
Thanks for the comments, you make some good points. I will question my friend regarding Dubai, i''m not feeling as good on this route as before now!

I was thinking I was going to get a great deal on an engagement ring!

Any idea what sort of excise tax there is on a ring purchased from the US?

HI:

None. Here is the link to the exact reference.....

http://www.canadianjewellers.com/media-government-relations-details.asp?contentid=1040

cheers--Sharon