Out of my league with prices...SI uncerted diamond prices

[tfc_diamondlvr]

I'm nearing the end of my journey with my 5 diamond search.
Everyone on here has been so helpful (as always). I'm indebted to the lovely folks on here.
Okay so here's the scoop:
I'm looking at having a 5 stone diamond ring made for me.
It'll be 35 pointers
18K gold
F-G color and PS quality stones for cut.
I'd have to travel to the U.S. to pick them up to save on duties etc. I'd have to take the least expensive flight there and back to save on costs. I'm assuming the cost of duties and taxes will be more than a flight.
The costs would have to be converted into Canadian Dollars.
I'd like to pay $3500 usd or less. But my goal is to try for $3500 usd.

Is that a fair price? I realize you might need idealscope images, which I could potentially ask for. The idea is that these diamonds would be approved by the discerning tastes of PS members

Any advice would be awesome. I'd loved to buy pre-loved, but I've been on the hunt since January without much luck.
Thanks!

 

[flyingpig]

I'd have to travel to the U.S. to pick them up to save on duties etc. I'd have to take the least expensive flight there and back to save on costs. I'm assuming the cost of duties and taxes will be more than a flight.
The costs would have to be converted into Canadian Dollars.
I'd like to pay $3500 usd or less. But my goal is to try for $3500 usd.

This does not make any sense to me.
You don't pay any duty on imported diamonds or finished diamond rings from the USA. You just pay PST/GST/HST, just like you do normally with local purchases, which is 5~15%, depending on where you live.
Remember if you pick up directly from US merchant, you still have to pay the local US sales tax, which is 7~9% in general. So, the maximum you will save is 8% or $280 USD or $360 CAD. Assuming a round ticket costs $200 CAD (which does not include any meal and transportation to/from airport), you save $160 CAD. And you spend a full day. More importantly, what you are doing is smuggling. I know people do it all the time, but not for $160 and all the time, flight and trouble.

 

[tfc_diamondlvr]

This does not make any sense to me.
You don't pay any duty on imported diamonds or finished diamond rings from the USA. You just pay PST/GST/HST, just like you do normally with local purchases, which is 5~15%, depending on where you live.
Remember if you pick up directly from US merchant, you still have to pay the local US sales tax, which is 7~9% in general. So, the maximum you will save is 8% or $280 USD or $360 CAD. Assuming a round ticket costs $200 CAD (which does not include any meal and transportation to/from airport), you save $160 CAD. And you spend a full day. More importantly, what you are doing is smuggling. I know people do it all the time, but not for $160 and all the troubles.

Thanks for your perspective.
I've been weighing the pros and cons about making the NY trip a sort of mini vacation for my fiance and myself anyways, and we'd go and meet the jewelers etc at the same time. The amount we'd save would go towards the costs of our flights.

However, I see your point about trouble etc. I was also thinking that as well!

Regardless of the extra fees, I'd like fellow PSer's opinions on costs and what would seem reasonable. In the world of diamonds, I don't really know (but I'm learning on PS!)

 

[flyingpig]

Thanks for your perspective.
I've been weighing the pros and cons about making the NY trip a sort of mini vacation for my fiance and myself anyways, and we'd go and meet the jewelers etc at the same time. The amount we'd save would go towards the costs of our flights.

However, I see your point about trouble etc. I was also thinking that as well!

Regardless of the extra fees, I'd like fellow PSer's opinions on costs and what would seem reasonable. In the world of diamonds, I don't really know (but I'm learning on PS!)

Ok. if you are taking a mini vacation, that's a different story.
$3500 USD is a reasonable budget/price. Is that what IDJ quoted you?? Go for it and enjoy your trip

 

[sledge]

If you choose to order your stones via an online vendor and have them shipped to a US address (out of the vendor's state) then you can avoid sales tax altogether. At least on the front side. Legally, you are supposed to report that purchase when you do your taxes. I'm not advocating either way, but I know most people don't declare this info.

On a side note, growing up in a state with 3.2% beer and sucky fireworks, me and friends use to dip over state lines all the time for the good 6% beer and bottle rockets. I'm not sure what would have happened if we ever got pulled over, but collectively we had thousands of dollars in booze and fireworks.

 

[tyty333]

Is this for uncerted stones? I think it sounds resonable for uncerted stones.
I would think a certed 5 stone would be over $3500.

Did you put a WTB thread up on Pre-loved forum?

 

[canuk-gal]

Tax fraud. ugh