The Diamond market in Dubai (or Antwerp)

[Keenan]

I heard from a jeweler that Dubai was an excellent place to shop for diamond rings. I'm told it is also a centre for the Asia markets.

For me, living in England, it seems a cost effective way to avoid sky high London prices and get a nice break in the bargain.

Can anyone comment on the range and prices there?

 

[naomisolomon]

Hi there Keenan,

I am living in Dubai and from Australia. I have found that the diamonds here are about a 3rd of the price to Australian prices however I am not sure of rates in England. If you give me some rough figures for an diamond in England I can get some comparisons. Currently shopping for my e-ring here in dubai and the prices are very good.

Naomi

 

[Rank Amateur]

Are they better than internet prices?

 

[Paul-Antwerp]

The majority of goods, going from Antwerp to Dubai, are sealed certs from IGI or HRD. It seems to be a custom there that the stone needs to be in its seal, in order to be sold.

What is the consequence: all stones with better lab-specs than looks take the Dubai-route.

Live long,

 

[orbaya]

You live in Dubai?? I sooooo want to go there...it looks beautiful! Do you recommend it as a tourist area? Hubby can''t be convinced because of the location by Saudi Arabia...he doesn''t want to anywhere near the Middle East. I don''t either, but Dubai is off to the side and away from the conflict areas, right? Is it a safe place to go right now?

I want to stay at the Burg-Al-Arab!!!!

(Like I can afford that...I wish). You can PM if you want.

 

[MiniMouse]

Orbaya - I live and work in Saudi Arabia which yes, is not the safest place on this earth, but someone''s got to work here! I regularly go to Dubai with my boyfriend to relax and get away from Saudi. We love Dubai, it is cosmopolitan and the beach resorts are superb - 5 and 6 star luxury - a world away from Saudi Arabia. We have always felt safe there. The Burj Al-Arab is nice (in an over the top kind of way) but very pricey. The seafood restaurant there is to die for - not the food but the way they transport you to the restaurant. You have to go on a simulated ''submarine'' journey after meeting your real captain

who insists you fasten your seatbelt. The journey is hilarious and the vibration of the submarine making its simulated way under the ocean is hilarious - I cried with laughter all the way, it was so tacky but what a scream! My stomach hurt so much from laughing that it was hard to focus on food! However, my laughter soon subsided when I saw the food bill

. My boyfriend and I tend to stay at the Madinat Jumeirah (specifically the Mina A''Salam Hotel) which is fantastic and right next door to the Burj Al Arab. We love escaping to Dubai. Actually we''re going there again at the end of March for a few days. Yippee!

Keenan - We have looked into buying a diamond in Dubai but quite honestly we were not impressed with the selection (or lack of). We were looking for a stone of 1.5ct to 2cts. Maybe the size was the problem as the majority of stones available in the shops were much smaller (although they do have lists from which they can pull a diamond from another store, but there wasn''t much that suited us). What disappointed me most was that the cut (the most vital ''C'' in my opinion) does not seem to warrant much attention over there. The vendors we saw (and we saw many, including all the shops in the Gold and Diamond Park) seem to think that so long as the color has an alphabetical number attached to it and the diamond looks good then ''no problem'', what more could we ask for? I have compared the prices we were quoted in Dubai in September and November. We haggled fiercely at the time as we know how to as we''ve lived and worked in the Middle East for quite a few years, BUT this was before I found Pricescope and my spec requirements for my diamond suddenly increased beyond what Dubai could offer

- is that familiar to any other Pricescopers? I can honestly say that the ''Good'' and ''Very Good'' stones were priced higher than through Pricescope vendors, plus the drawback in Dubai is that the majority of vendors have the diamonds sealed in packets so you cannot see them unpacked (to compare) before you buy. That shocked me, but there again I think I would personally have a problem with buying an unpacked diamond in the Middle East, when the only professionals I would trust to verify the accuracy of the specs are in the USA and UK.

If you''re looking for a ''Good'' or ''Very Good'' diamond and don''t mind buying the diamond after viewing and comparing stones through scratched plastic packets then go for it, but if you''re a little more choosy and want the best stone for your pound/dollar, then get a cheap, off season ticket to New York and visit the big boys with the best diamonds and the best diamond information to hand. Although I''m in Saudi Arabia, we definitely plan to buy my stone in the USA, once we can source the best for our money.

One thing''s for sure, forget about finding a H&A or Ideal cut stones in Dubai, those stones did not exist when we looked in September and November. In Dubai you''re more likely to have to settle for ''Good'' or ''Very Good'' cut stones, but if someone knows better then please pipe in, because I''d love to see some H&A or Idea cut stones in Dubai. If top grade cut is not so important to you and you prefer a holiday in Dubai, then perhaps Dubai is the place for you to make a purchase, but I have heard that the best cut stones are sent to the USA because Americans demand the best and why not? In Dubai if you ask about a Sarin report, the vendors are more likely to think you''re asking to see some saffron, before they think you''re crazy!

Good luck.