Buying a diamond in South Africa?

[coastalliving]

Hi!
I am taking a vacation to South Africa next month. The exchange rate for the dollar vs the Rand is almoat 7 to 1. Does that mean I should be able to buy a $7000 dollar diamond for around $1000? Has anyone bought diamonds in South Africa? How reliable are the certificates they offer?
Thanks for any advice you can offer!

 

[denverappraiser]

There are plenty of fine stores in South Africa, rather like the US and anywhere else, but it's definitely full of sharks (rather like the US as well). No, there's no bargains to be had and no, the exchange rate has nothing to do with it. There something to be said for a souvenier from an exotic place that you visit but I'm not so sure it's a good way to make an important purchase. Consumer protection laws are completely different, banking laws are completely different and you'll find the recourse very difficult if you discover you have a problem. At the same time, there's not a significant savings available for the simple reason that diamonds have become something of a world commodity. The shipping to get them from one place to another is nominal compared to the price and remarkably fast thanks to FedEx and similar services. Choose your dealer based on the character of the people behind the counter/keyboard with a nod in favor of someone close to home but, otherwise, there address has next to nothing to do with it.

 

[Dancing Fire]

Hi!
I am taking a vacation to South Africa next month. The exchange rate for the dollar vs the Rand is almoat 7 to 1. Does that mean I should be able to buy a $7000 dollar diamond for around $1000? Has anyone bought diamonds in South Africa? How reliable are the certificates they offer?
Thanks for any advice you can offer!

..no.. if that were true then you can go to Japan and buy a $82,000 diamond for $1000 USD...

 

[coastalliving]

Thanks for your answers!
I love this site and have learned so much about diamonds. But as I discovered in college, the more you learn the more you realize how little you know!