Opinion on buying diamonds in Israel

[sonyachancs]

This is purely out of curiosity. The FF has just told me his colleague bought a diamond from Israel to propose (flew in on holiday and bought) and the FF has a great opinion of buying diamonds in that country. According to his colleagues, the prices are lower and the diamonds are better.

But I'm not inclined to believe 'general opinion', and most people here are pretty unknowing beyond the color scale and clarity levels - even the sales people can't answer my questions and I'm a very basic PSer.

I've done a Google through PS and opinion seems to be that it's not necessarily cheaper and quality could be dubious. I'd appreciate your opinions, TIA!

 

[delight]

That isn't necessary true about diamonds being better and cheaper in Israel. Check prices and compare it against online vendors. You had done your research. What does it tell you?

 

[sonyachancs]

That isn't necessary true about diamonds being better and cheaper in Israel. Check prices and compare it against online vendors. You had done your research. What does it tell you?

it tells me precisely this! But I'm no diamond expert - I stalk colored stones more - and I was wondering if I had missed something out. I will conceded that it is probably cheaper than the B&M stores here in singapore, which overcharge quite crazily (I had never known it was this bad, before PS), which gives them this impression. but I would be worried about colour and of being cheated (i.e. charged for a higher colour etc)..

 

[denverappraiser]

Being cheaper than the average storefront in Singapore is no great challenge.

The question is whether address matters. This same general story is part of the pitch for stores in Antwerp, New York, India, Hong Kong, South Africa and any other of a long list of locations that are supposedly bargains. Stores in Singapore, UK and elsewhere are expensive for a variety of reason including taxes, local labor costs, land values resulting in high rents, hidden costs like insurance and security, and just cultural traditions. We could debate whether or not these sorts of things are worth putting up with but a thing to remember is that diamond dealers are a pretty well informed and enlightened bunch. That jeweler in Israel is CHOOSING to sell there. It’s not for lack of other opportunity. FedEx could get his goods to anywhere he wants for a very reasonable fee. He could set up a subsidiary for a bit of work and a bit of money (many of these people are multi-millionaires). The jeweler in Singapore is buying his goods in the market that he finds most efficient and is absorbing those costs in exchange for a markup. He/she has competitors. There may be some marginal savings by doing it yourself but there’s nothing about rocks being sold in Israel that makes them any better or worse than rocks being sold anywhere else. If you’re an Israeli resident, there’s something to be said with working with a local dealer. If you’ve got a relationship with a dealer who you want to work with who lives there, have at it. If you’re fishing for a bargain, pay attention to the grading standards and the terms and conditions of the deal. Both are WAY more important than the address of the store.