Buying from US to the UK

[leasj1]

Hello all,

This website was very good to me a few years ago as I bought an engagement ring through the advice from this website around 8 years ago now and went through good old good to get it. It was a great experience and went very smoothy. Since then we split up for a few years but we have since got back together.. So looking for a new ring!! I won't go into details with that happened with the last one.

Im wondering with the downturn in the pound against the dollar due to Brexit is it really cost effective buying from the US and getting it sent to the UK or would I be best looking close to home? Any comments would be appreciated

Thanks,
John

 

[Snowdrop13]

I wonder if diamond prices in the UK in shops might rise soon anyway as they're all imported?? Might still be cheaper to buy from the US and you will definitely get a better selection. Congrats on repairing your relationship, I hope the choice of ring goes smoothly for you both!

 

[leasj1]

Thanks a lot for the reply and much appreciated with your nice comment.

Yeah the choice overseas in the states seems to be fantastic compared with back in the UK. Ill need to weigh it all up price wise, was just wondering how other people experiences were since the fall of the pound.

 

[Fantspants]

Thanks a lot for the reply and much appreciated with your nice comment.

Yeah the choice overseas in the states seems to be fantastic compared with back in the UK. Ill need to weigh it all up price wise, was just wondering how other people experiences were since the fall of the pound.

I'm in the UK and I've been looking at diamonds since preBrexit, I decided to keep pursuing that avenue as my mum has an engagement ring from Goldsmiths and it's just not that great, plus we seem obsessed with cluster rings here...of course there will be independent jewellers etc with perfectly good stones.

My choice was also influenced by going with an AVR which I cannot get in the UK, it's a blow that my budget is now worth £1000 less but c'est la vie.

I would suggest having a look around, can you visit Hatton Gardens, do you have a budget in mind etc?

Bluenile have a warehouse (?) in Ireland so all the prices on their UK website include VAT

 

[gm89uk]

Are you in a rush? The sudden drop to £1 to $1.22 seems to be a further reaction to brexit scare regarding uncertainty and banks moving out, rather than any substantial news. I think a 8cent drop is most likely going to recover over the next few months, just depends on how much of a rush you are in. Prebrexit was roughly 1.48 which I don't think is going to happen for years, but I'm hopeful some of the excessive weakening of the pound is short lived.

Although nobody really knows and it could be years...Saying that, once stocks end with current diamonds that were purchased at the previous 1.33 exchange rate, the prices in the UK will go similarly high. If you can find a great deal in the UK with a well cut diamond (which is quite hard to do) then I would say go for it (after comparing similarly priced stones in the US). If your heart is set on a AVR, then I would get an AVR eventually, whether you decide to go now or wait a bit longer, because this is a life time purchase, and you want to get exactly what you want with that kind of money.

The Birmingham jewellery quarter has some nice shops as well. I found a lot don't care too much about cut, but Diamond Dealer Direct on Warstone Lane seem to be very helpful I HAVE found idealcut stones from them before, and their diamonds are relatively well priced. The director is a good man.

They are helpful over the phone as well. In the other shops, I found it's easier to just specify a table size and depth % and get an array of stones and hope the angles are good, as crown/pavilion angles tend to not register...

Remember to add 1.225% not 1.2% VAT when calculating US prices, and if you're buying from the US, you can save literally hundreds of pounds depending on your method of moving money across and which bank you use.

 

[Christinak]

Hello
I recently bought in the uk rather than the US because of brexit and the impact on exchange rates. I found an independent bench who have trade relationships in hatton garden and were able to source me an amazing OEC and set it in a bespoke setting designed by the jeweller for me. The end price was 15% above trade as the jeweller only changes this level of mark up (no retail outlet to cover the costs of!). So there are options to buy well in the uk. I think ideal cut are harder to find but based on the advice of the previous poster, using crown and pavilion angles and depths in the ideal range can help to narrow it down. You could provide these to an independent and use them to source stones for you.
However if an AVR is your ideal (just gorgeous!), then I would probably bite the bullet and take the exchange rate hit although waiting to see if we get a small recovery is a good idea.
Good luck!
Chris x

 

[gm89uk]

Hey Chris

Thanks for that. Do they deal with MRBs as well or mainly antiques? It would be great to know who they are it may be worth a visit one day.

George

 

[egemnoel]

As the pound has fallen against the dollar, I would still buy form the US. Pick the right vendor and you will be fine. If you can get a cheap flight over and collect the ring even better

I had the same dilemma until I came across Wink Jones http://highperformancediamonds.com/

I let his eyes do the talking and have 100% confidence so I don't have to see the diamond before I purchase it. A lot of it is down to trusting the vendor and actually works out much cheaper in the long run.

 

[OoohShiny]

As already mentioned, I think a lot depends how quickly you want something.

If you want something great now then I would buy either a GIA XXX / AGS 000 that is up to PS standards from one of the recommended (US-based) vendors, or I would go straight to one of their branded super-ideal diamonds and be done with. You will pay a little extra due to the exchange rate changes, but it will be quick and easy.

Alternatively, if you have time to look around, you could find a jeweller you like, that is able to call in stones and entertain your demands for specific angles etc (although I think most UK jewellers will just look at you like you've lost your mind or are trying to be a smart-ass if you whip out an IdealScope and an ASETscope...). You could then call in several stones that suit your budget and cut requirements and pick the best one. It would take more of your time (and therefore the value of your time spent will of course also go up, unless you assume you're doing it in your weekend time and have nothing better to do, so your value of time is zero) but you would not be 'buying blind', which it can feel like when internet shopping and only going off reputation and empirical values.

or me, I would just go with the SuperIdeal stone and be done with. So much less hassle, and you will be pleased with the performance every single day!

Remember to add 1.225% not 1.2% VAT when calculating US prices, and if you're buying from the US, you can save literally hundreds of pounds depending on your method of moving money across and which bank you use.

Um... I think you might have your percentages confused in this sentence?? lol

I think you meant to say that you should add 20% VAT for loose stones or 20% VAT + 2.5% Import Tax for set stones?

Which would mean mutiplying the USD sales price + shipping cost (which is included in the VAT calculations for reasons I don't understand ) by 1.2 for loose stones or 1.225 for set stones?

And then divide that total by the exchange rate on your credit card / given by the bank doing/receiving the transfer?


Hope that doesn't come across as me being a complete pedant I just wanted to make sure the info was correct! lol

 

[gm89uk]

Yes I meant as a multiplication factor, thanks for clarifying.