Buying in Dubai

[NathanT]

I have scheduled a trip to Dubai for next weekend at which time I am to meet several diamond dealers. Although one of which is a close friend of mine''s family dealer, I do not have any connection with several of the others. My friend is a native and as such, I expect a better deal than I probably would get otherwise. I plan on arriving Thursday morning, picking a stone, getting it set and leaving Monday morning. I realize that the timing is tight, but so is my hectic schedule. I have weighed my alternatives and although Dubai prices appear to be only slightly cheaper (10%-15%)than the US internet, you are able to see the stones and also avoid some taxes. Are there any specific pitfalls I should be aware of over this four day period. What advice would you give to someone in my position? Specifically, how can I be sure that some of these other dealers are trustworthy?

Thank you in advance for any advice on the subject. . ..

 

[smaggard]

What about the Certs of the stones there. Are they still GIA/AGS etc? Can you get many details there about crown/pav angles etc? Can they send to an appraiser etc?
If you buy online chances are you won't be paying any taxes anyways.
What if you want to return or upgrade?
Not trying to dissuade you, just mentioning some things to think about.
2 years ago I was all set on going to Amsterdam or somewhere to get a "good deal", but the more I looked into it the riskier it seemed compared to here. Keep in mind the United States has laws and stuff that other places couldn't care less about.
I just bought a stone a few weeks ago from USACerted and Superbcert, and feel confident that if I'm not happy or need to upgrade, they can take care of me, whereas somewhere out of country I don't know about.
But if you know people there, it may be different for you, having an insider edge so to speak.
Good luck in your hunt!

 

[mdx]

Hi Nathan
If you exclude local state taxes Dubai diamond prices are nowhere near 10% to 15% below US Internet prices. The comment Smaggart makes on certification is a valid one.
I would suggest you use the Pricescope Vendors prices as a basis and buy only GIA or HRD certified diamonds. (Both are available in Dubai AGS is not that readily available)
It would also be a good idea to study the pricescope tutorial before you leave.
Let us know what happens, I have a feeling you may end up buying in the USA

Best of Luck
Wayne
Melbourne Diamond Exchange Ltd (Australia)

 

[Richard Sherwood]

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Are there any specific pitfalls I should be aware
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One thing you should be aware of is that the Middle Eastern code of ethics is entirely different than the Western code of ethics.

I would not buy anything without a cert from a reputable laboratory. Even then, I would get a second opinion to make sure it's the same stone, how it ranks, and whether it's a good deal.

Personally, I think you could do just as well (or better) through the US internet with a lot less risk.

 

[Hest88]

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What advice would you give to someone in my position?
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Well...do you know any professional jewelers you can bring? Or are you skilled in evaluating diamonds?

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Specifically, how can I be sure that some of these other dealers are trustworthy?
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You can't, unless you can adminster truth serum. Even in the U.S. you wouldn't trust a jeweler without references from people you trust right? So compound that issue by throwing in a foreign country.

Go and look. You might get some good deals, but you're taking a huge risk.

 

[Mrs Elps]

Hi Nathan

I noticed your email regarding your trip to Dubai to buy a diamond. I wondered how you got on? I'm planning a trip and wanted to know if there is any form of insurance against buying a fake diamond??

Look forward to hearing from you

Mrs Elps