Legality of Buying Rough Diamonds

[jmassman]

Is it legal for a consumer (i.e. just a guy who wants to buy a few rough stones for personal use) to buy directly from a dealer in Africa? I understand that there are issues with "conflict diamonds", which I''m trying to avoid, obvious scams, etc.... But is it LEGAL to buy direct as a consumer?

 

[DiamondExpert]

I think just by asking this question you may be heading into trouble.

If you don't know the diamond rough trade inside out and don't know how to value rough, watch your wallet! This is not like buying polished goods.

 

[DiamondExpert]

Just let me add that there are rough goods you can buy here in the US, so why take the risk of an overseas purchase from someone you don't know and will have no recourse with if the deal goes bad?

 

[DiamondExpert]

Furthermore:

I only purchase the odd crystal for the gem collector, or someone who cuts colored stones and wants to try their hand at a diamond (requires different equipment though).

You're right, and I have no illusions about buying rough for cutting to try and make a profit...

...it's difficult enough with colored stones!

 

[mdx]

G'Day Jason
You may be able to legally buy rough from from Diamdel (a De Beers subsidiary) they supply the smaller cutters in USA at prices that they can make a profit. I am not sure if they would supply a member of the public, no harm in trying.
There details are:
Diamdel Inc 2 W 46th Street - New York, NY.
Johan
Melbourne Diamond Exchange Ltd

 

[The_Choosen_One]

Think about this u can buy Diamonds in Africa for about 2-5 Thousand Dollars and sell them in Europe for 100.000 Thousand Dollars good Business all u need is some connections which i have and the Money just keeps coming

 

[UnionDiamond]

Hi Jason,
Legally it can be done but be warned that you'll find no bargains. There is an illusion and logic suggests that rough diamond is cheaper in Africa but in reality the cities of West Africa will generally be asking more for rough than the streets of Antwerp or New York. Most Africans involved in the diamond business, some legit and some not so legit, know the prices better than most dealers. There are literally thousands of them and they'll not be giving any bargains. Many will scam and many who claim to know chiefs and presidents that will make the process smooth will also be a rip off. Stay away; there are no bargains to be had! Literally hundreds of dealers who know rough have been taken to the cleaners by these scams and overpriced goods.


One last thing Jason, stay away from The_Choosen_One who posted above.

That is the most ridiculous statement I have read in a long time and it's also one of the scams I was refering to.

 

[denverappraiser]

Date: 11/6/2003 12:25:59 PM
Author:jmassman
Is it legal for a consumer (i.e. just a guy who wants to buy a few rough stones for personal use) to buy directly from a dealer in Africa? I understand that there are issues with ''conflict diamonds'', which I''m trying to avoid, obvious scams, etc.... But is it LEGAL to buy direct as a consumer?

jmassmaan,

Lots of answers here to questions that you didn''t ask and all of the are right (except for The_Chosen_One of course). There''s a long history on the forum of people asking questions that originted in one of the scams you mention and the gurus here have become sensitive to it.

Yes, it''s legal in most countries to buy rough diamonds. There are exceptions as the laws are set by the local authorities in the country in question. Such laws can change quickly, are not always what foreigners consider fair or reasonable. They are also not always easy to determine. Legal environments can vary considerably from country to country.

Neil Beaty, GG ISA
Indepenent Appraisals in Denver