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importing to Canada

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stewie

Rough_Rock
Joined
Jan 8, 2003
Messages
20
A question for any Canadians (or experienced dealers) on the board.... what duties/taxes would be payable to import a diamond in a platinum setting to Ontario?

I''m just trying to determine a budget, any help would be appreciated.

Thanks,
stewie.
 

stewie

Rough_Rock
Joined
Jan 8, 2003
Messages
20
ONLY????

Holy crap! At least the current exchange rate is giving us some help, but let me say it again: Holy crap!

Thanks for the answer, leonid.

 

barry

Shiny_Rock
Joined
Mar 21, 2001
Messages
441
Stewie;

This topic has been discussed here in a previous thread.

Even with the taxes, you can still get a better quality
diamond for less money imported from the States than
is obtainable in Canada.

Barry
www.superbcert.com
 

stewie

Rough_Rock
Joined
Jan 8, 2003
Messages
20
I'm resurrecting this thread (since it was such an easy question)...

Would exise and sales taxes also apply to a used piece?
 

geoman

Rough_Rock
Joined
Mar 24, 2003
Messages
5
I'm Canadian and don't like the 25% bit either. Alot of vendors will ship to a Fed Ex Holding centre at a US border town so you can go and pick it up and bring it back across with you. I'd never recomend that you do this though.
 

trichrome

Shiny_Rock
Joined
Dec 9, 2002
Messages
397
Is it a secret for noone that a lot of stones here in
Canada are sold in the black market without paying taxes.
I would not recommand buying a stone this way though.

Trichrome.
 

trichrome

Shiny_Rock
Joined
Dec 9, 2002
Messages
397
I even saw someone on another board or here said
that he attached with tape a diamond bought in the US under his car near
one tire and cross the canadian border....

Imagine loosing your diamond...what will you say
to your insurance company? That you're crazy?!!?

Trichrome.
 

Greatcall

Rough_Rock
Joined
Oct 5, 2002
Messages
68
I have been on this site for about one year. Since this forum is dominated by Amercican Vendors and trully think Canadians get a biased American View. The U.S is the only place to buy diamonds for cheap. People insinuate smuggling, buying in the black market etc... They also make it seem like the Canadian retailers are ignorant non educated people.

THEY MAKE IT SEEM LIKE ONLY AMERICAN VENDORS CAN SUPPLY YOU THE BEST BANG FOR YOUR BUCK. THIS IS TOTALLY FALSE. The Jewellers and appraisers in Canada in fact are more strict in their grading and cutting standards. Let me give you an example:

GIA stone 6.20x6.15x4.25mm
table: 65%
Depth 68%
polish: Good
Symmetry: Good

I dont think anyone could pass this off as a good make in Canada. But Various sites (American mostly) will grade this as a good cut diamond.

Then there are those sites that sell EGL (where the SI1 are more like I 1 in Canada).

So to all the Canadians that are thinking of buying a diamond, check around first. Get all the information you can. Once you have weighed all the options then make a decision. Diamond just like gold is a commodity. A 1.00 ct VS1 G has the same cost for all suppliers all around the world (this is true in Canada, US, Hong Kong, Japan etc...) The American suppliers dont have a magic bag that they pull their diamonds out of.

BASICALLY IT REALLY DEPENDS ON HOW MUCH EACH RETAILER WANTS TO MARK UP A DIAMOND. THAT IS WHAT EFFECTS THE FINAL PRICE. NOT THE COUNTRY THAT YOU ARE PURCHASING FROM. Therefore a diamond that you see on any website e.g 1.00 ct VS1 G can be purchased for the same price in Canada or the U.S (after calculating taxes and conversion rates).

REMEMBER DONT BE DISCOURAGED TO NEGIOTATE AND OFFER PRICES TO YOUR JEWELLERY RETAILER. NO PRICE IS TEH RETAILERS LAST PRICE. THERE IS NO DIAMOND MAGIC BAG ALL SUPLLIERS HAVE TO BUY THEIR DIAMONDS FROM EITHER BELGIUM, ISRAEL , NEW YORK, BOMBAY OR YELLOWKNIFE)

Cheers
 

DavidEmslie

Shiny_Rock
Joined
Feb 8, 2004
Messages
147
Most of the sales and designs and diamonds we have sold to folks in Canada have had no problems. I wish we had more business with them, Canadians are great to work with.

Depending on the cost of the stone have you considerd checking out what it would cost to fly to to where ever said dealer is and pick it up in person. A cheap airline ticket and a day trip could be quite a bit less than the tax. Or the drive?

Alot of people from Canada have me drop ship goods to freinds in the US or have po boxes in the US....renting a po box for 6 months is about $30 but again, is it worth the trip and time or not?
 

mdx

Brilliant_Rock
Joined
Mar 1, 2002
Messages
570
Hi Greatcall
You make some good points and yes the basic material and cutting costs are similar worldwide. What you might find interesting is that we sell Canadian Diamonds in Australia at a slight premium with no problem,
We also sell Australian diamonds (pink+conac) in the USA and USA cut diamonds in Canada.
So Greatcall you are right it certainly is a level playing field and Canadians should certainly try and negotiate prices to compensate for taxes.
I would certainly not recommend smuggling as most governments have the power to confiscate your goods.

Johan
Melbourne Diamond Exchange Ltd
 

Greatcall

Rough_Rock
Joined
Oct 5, 2002
Messages
68
Thanks Johan.

And I really want to discourage people from smuggling. Are'nt these the same people that advocate that buying local helps the local economy. THE PROBLEM IS NOT THE RETAILERS. IT IS THE GOVERNMENT OF CANADA WHO IMPOSED THE 10 % EXCISE TAX IN THE EARLY 1900 ON LUXURY GOODS. DONT PUNISH YOUR LOCAL JEWELLER. VOICE YOUR OPINIONS TO YOU LOCAL MEMBER OF PARLIAMENT.

BETTER YET BUY A CANADIAN DIAMOND LIKE (THE MAPLE LEAF, ESKIMO, ARCTIC ICE ETC....)

CHEERS
 

strmrdr

Super_Ideal_Rock
Joined
Nov 1, 2003
Messages
23,295
Actually every Canadian customs form I have filled out when entering Canada has said "excluding personal jewelry" in the declarations section.
Then it isn’t asked for later in the form either.
So far as I can tell it’s perfectly legal to just wear it and cross the border as far as customs is concerned.
I wouldnt try it for resale but for your own use....

The Canadian citizens on the plane filled out the same form.

Note: This is not legal advice use at your own risk.
 

Bing Chow

Rough_Rock
Joined
Feb 11, 2004
Messages
29
No excise tax in Manitoba. Or else someone made a booboo. I'm reading my Fed-Ex receipt and under "excise tax" there are no numbers. I just paid 14% GST/PST How about you send the ring to me, and I'll send it to you, and I'll take 5%. If you're in Kenora I'll drive! I'm kidding...have fun!
 
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