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What's the deal with diamond prices in India?

Diamondrocker

Rough_Rock
Joined
Oct 23, 2018
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4
I've been reading online about prices for 1 carat loose diamonds. I know of 2 popular websites in North America where you can choose your ring and then choose the centre stone you would like. So I decided to compare their prices (around the 2K mark for 1ct) with prices in Indian manufacturers/wholesalers.

I came across a popular Indian wholesaler site, and they are supposedly selling diamonds at 25000 rupees per carat - which is only $340 USD. This doesn't make sense to me. I then contacted another Indian wholesaler who sells 1 carat, SI-VS, G-H diamonds for closer to $1200.

I asked a third Indian manufacturer (very big company, well known and reputable) to quote me on a 0.5ct TDW (1 centre stone and two smaller ones on either side) in 14K gold and they only quoted 350 USD. The cost of the gold alone is 100USD, plus labour which leaves about 200USD for that 0.5ct of diamond.

This is all very confusing. It's like they pick prices out of thin air. Any thoughts on the discrepancies?
 

OoohShiny

Ideal_Rock
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Apr 25, 2014
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7,058
2k USD for a 1ct diamond?

Are you talking about Man-Made Diamonds / Laboratory Grown Diamonds?
 

Mamabean

Ideal_Rock
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I’m thinking it has to be lab diamonds...or moissanite but if they’re diamonds I’m getting some! :lol-2:
 
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Rpb

Shiny_Rock
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Apr 2, 2018
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327
From my understanding, diamonds are considerably cheaper in India, gold prices are the similar globally but the labour charges (effort) for making the jewelry would be much less compared to the Western countries counterparts. For example l have recently got the Modern tulip ring inspiration from one of the popular PS vendors, made from an Indian jeweller in 18k gold and it cost me 1/4th of the price including setting the stone. So yes it's quite possible that you might see some savings. The quality and finish of the ring is excellent.
 

lambskin

Ideal_Rock
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Also, the Financial times reported that the Indian diamond market suffered a severe blow re financing due to diamond industry widespread bank loan fraud. So loan money is currently very tight. I would be very wary of 'too good to be true' offers.
 

Dancing Fire

Super_Ideal_Rock
Premium
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31,059
Such prices are not for natural diamonds with that description. Not in India, not anywhere.

Live long,
Paul
I must talk to Wink about his pricing on CBI stones. I'm willing to pay $2500 (double the Indian price) for a dozen of 1ct H VS2 CBI stones. :praise:
 

Diamondrocker

Rough_Rock
Joined
Oct 23, 2018
Messages
4
2k USD for a 1ct diamond?

Are you talking about Man-Made Diamonds / Laboratory Grown Diamonds?
Sorry, they were closer to 2700 USD, the lower quality ones were closer to 2K USD but it was just less than a carat. Natural diamonds. What are the typical prices you have seen?

I’m thinking it has to be lab diamonds...or moissanite but if they’re diamonds I’m getting some! :lol-2:
Probably, it says natural diamonds in the description and sourced from Africa. I sent them a message to find out more.

From my understanding, diamonds are considerably cheaper in India, gold prices are the similar globally but the labour charges (effort) for making the jewelry would be much less compared to the Western countries counterparts. For example l have recently got the Modern tulip ring inspiration from one of the popular PS vendors, made from an Indian jeweller in 18k gold and it cost me 1/4th of the price including setting the stone. So yes it's quite possible that you might see some savings. The quality and finish of the ring is excellent.
Have you had the ring independently inspected/certified to make sure of its authenticity? Amazing if true.

Such prices are not for natural diamonds with that description. Not in India, not anywhere.

Live long,
Seems a little too cheap to be honest. Their description has to be wrong, as they are a large company who provide GIA certified loose diamonds as well.

If it sounds too good to be true, it probably is.
Yup.

Also, the Financial times reported that the Indian diamond market suffered a severe blow re financing due to diamond industry widespread bank loan fraud. So loan money is currently very tight. I would be very wary of 'too good to be true' offers.
Interesting, thanks for the input.

Dear OP, come on...
I'm a noob.
 

Rockdiamond

Ideal_Rock
Trade
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Jan 7, 2009
Messages
8,061
Diamond prices are pretty much worldwide nowadays. The spread between wholesale and retail has narrowed.
Having said that, I saw parcels of 1.00ct+- diamonds yesterday for $1200.
There were things living inside- but they were indeed natural mined 1ct diamonds.:lol:

I graded them K-L/I2- but I'm positive someone would call them G-H/SI
 

Mamabean

Ideal_Rock
Joined
Mar 31, 2018
Messages
6,949
Diamond prices are pretty much worldwide nowadays. The spread between wholesale and retail has narrowed.
Having said that, I saw parcels of 1.00ct+- diamonds yesterday for $1200.
There were things living inside- but they were indeed natural mined 1ct diamonds.:lol:

I graded them K-L/I2- but I'm positive someone would call them G-H/SI
I’m sure they would..unfortunately
 

ringo865

Ideal_Rock
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2,355
“Natural” could include drilled or filled diamonds, just so they were mined from the earth. Also not “technically” a lie to say “natural” about a diamond that had other enhancements (heat/pressure) — if it were mined.

Not all treatments will be disclosed by all sellers.

That is why we stress importance of having a report from one of the reliable grading laboratories (AGS, GIA, HRD. (I think IGI also discloses treatments)).

Also find a seller offering at least a several-days’ no-questions return policy ... for a full refund (not exchange) (and with no restocking fees).
 

OoohShiny

Ideal_Rock
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Apr 25, 2014
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7,058
“Natural” could include drilled or filled diamonds, just so they were mined from the earth. Also not “technically” a lie to say “natural” about a diamond that had other enhancements (heat/pressure) — if it were mined.

Not all treatments will be disclosed by all sellers.

That is why we stress importance of having a report from one of the reliable grading laboratories (AGS, GIA, HRD. (I think IGI also discloses treatments)).

Also find a seller offering at least a several-days’ no-questions return policy ... for a full refund (not exchange) (and with no restocking fees).
These are wise words that should be heeded.

Market prices for suitable (i.e. high) quality diamonds can be checked using the search bar near the top of the forum.
 

Diamondrocker

Rough_Rock
Joined
Oct 23, 2018
Messages
4
@Diamondrocker
Dear noob, That’s actually kinda cute. Just live by this: if it sounds too good to be true, it is. Good luck and don’t buy anything without consulting PS first.
Thanks, and thank you to everyone who has given their input. I can already tell this is a forum with a community of good people.

“Natural” could include drilled or filled diamonds, just so they were mined from the earth. Also not “technically” a lie to say “natural” about a diamond that had other enhancements (heat/pressure) — if it were mined.

Not all treatments will be disclosed by all sellers.

That is why we stress importance of having a report from one of the reliable grading laboratories (AGS, GIA, HRD. (I think IGI also discloses treatments)).

Also find a seller offering at least a several-days’ no-questions return policy ... for a full refund (not exchange) (and with no restocking fees).
Here is my whatsapp conversation with them:

Me: My question is about your diamond pricing on [indianwebsite]; it says 25000 rupees per carat.. what's the deal?

Him: The quality will be SI/G-J and the price will be $350USD per carat.

Me: I'm presuming these are uncertified diamonds, they are African?

Him: Yes

Me: How much for GIA certified 1 carat centre stones, round, very good cut etc.?

Him: sends link to GIA section of website

My search tells me that their cheapest 1 carat IGI certified, I1 clarity, I colour, is $1219
Their cheapest GIA 1 carat, is I1 clarity and G in colour. Fair cut, excellent polish and very good symmetry and is $1898. So that sounds more in line with prices on other websites.


Me: The 1 carat diamonds for $350; are they treated in any way?

Him: "no, we do not have HPHT diamonds, we deal in real natural diamonds only".

So the diamonds for $350 are probably a lot lower quality than how he described them.

Question: Are these the kinds of diamonds people use for tennis bracelets/anything with clusters or a large number of stones? It's not feasible to certify every single stone in a tennis bracelet, so how can you ever be sure you are getting a quality product unless you are a diamond expert yourself?

Think I'm going to enrol in a gemological course..
 

OoohShiny

Ideal_Rock
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Apr 25, 2014
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7,058
Question: Are these the kinds of diamonds people use for tennis bracelets/anything with clusters or a large number of stones? It's not feasible to certify every single stone in a tennis bracelet, so how can you ever be sure you are getting a quality product unless you are a diamond expert yourself?
One can buy from recommended and trusted sellers with good feedback and actual photos of their products on their website and social media feeds.

There are a number of recommended vendors this forum would point you to - Brian Gavin Diamonds, Whiteflash, High Performance Diamonds / Crafted by Infinity, Diamonds by Lauren, Love Affair Diamonds, Caysie van Bebber, August Vintage Inc, Good Old Gold, Gemconcepts, Victor Canera, David Klasse... (I'm sure I've forgotten some.)

Some of them do sponsor the site, I believe, BUT they are not therefore excluded from all criticism - PS forum members are free to post both good and bad reviews/feedback, in order that the community can stay informed.

Some of them have 'Bricks and Mortar' stores you can visit, all of them have their individual Sales and Returns policies that should be reviewed before purchasing (as with any store), but most of them offer a full range of purchase options (including Credit Card if a purchaser seeks the comfort of the protection that can provide) and also 30-day Returns, so purchasers can assess the quality in their own homes and put stones/jewellery side-by-side at local shops if they want to compare with what's available to them locally, and then return the item(s) at zero or minimal cost. All of them offer the highest quality and you can buy with confidence - they would not be PS-recommended vendors if they didn't.

Search for 'tennis bracelet' and you should have a number of threads come up, for example. @cflutist has a couple of them from Wink at High Performance Diamonds (and is the only person I can remember right now lol) so you can check out the quality for yourself.
 

Diamondrocker

Rough_Rock
Joined
Oct 23, 2018
Messages
4
Here’s an eBay example of a 1 carat, natural “G /H colour S1” diamond from India.
This one is reduced to $450.
Wow. How would you classify this?? Looks horrible, but it is very cheap.

One can buy from recommended and trusted sellers with good feedback and actual photos of their products on their website and social media feeds.

There are a number of recommended vendors this forum would point you to - Brian Gavin Diamonds, Whiteflash, High Performance Diamonds / Crafted by Infinity, Diamonds by Lauren, Love Affair Diamonds, Caysie van Bebber, August Vintage Inc, Good Old Gold, Gemconcepts, Victor Canera, David Klasse... (I'm sure I've forgotten some.)

Some of them do sponsor the site, I believe, BUT they are not therefore excluded from all criticism - PS forum members are free to post both good and bad reviews/feedback, in order that the community can stay informed.

Some of them have 'Bricks and Mortar' stores you can visit, all of them have their individual Sales and Returns policies that should be reviewed before purchasing (as with any store), but most of them offer a full range of purchase options (including Credit Card if a purchaser seeks the comfort of the protection that can provide) and also 30-day Returns, so purchasers can assess the quality in their own homes and put stones/jewellery side-by-side at local shops if they want to compare with what's available to them locally, and then return the item(s) at zero or minimal cost. All of them offer the highest quality and you can buy with confidence - they would not be PS-recommended vendors if they didn't.

Search for 'tennis bracelet' and you should have a number of threads come up, for example. @cflutist has a couple of them from Wink at High Performance Diamonds (and is the only person I can remember right now lol) so you can check out the quality for yourself.
Awesome, great advice.. much appreciated! I've found that a lot of the smaller local jewellery stores that are family run businesses for generations seem to have far higher quality diamonds for better prices that many large international "jewellers"/retailers. I remember seeing the cloudiest included diamond stud earrings and wondering how they could justify asking for the price they were.. it's so obvious to see even to the untrained eye how bad they were. Would have been better off with CZ!
 

Dancing Fire

Super_Ideal_Rock
Premium
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Apr 3, 2004
Messages
31,059
0403DFD3-F172-4FBB-B315-C7A29DD5966B.jpeg Here’s an eBay example of a 1 carat, natural “G /H colour S1” diamond from India.
This one is reduced to $450.
Too much pepper and not enough salt!
 

LLJsmom

Ideal_Rock
Premium
Joined
Oct 24, 2012
Messages
9,242
0403DFD3-F172-4FBB-B315-C7A29DD5966B.jpeg Here’s an eBay example of a 1 carat, natural “G /H colour S1” diamond from India.
This one is reduced to $450.
I would rather pick up a pebble from the playground if I wanted an included rock. At least the pebble may have some striations and texture. And it would be free.
 

OoohShiny

Ideal_Rock
Premium
Joined
Apr 25, 2014
Messages
7,058
Aren’t lab diamonds also natural?
Wink did post the latest guidance/recommendations for sellers to use, which I think did mean that diamonds could be called 'natural' but laboratory grown diamonds had to use 'laboratory grown' as a qualifier before 'natural' (or whatever the wording was).

Either way, just using 'natural' is potentially an indicator of a deceptive seller IMO!
 

Bron357

Ideal_Rock
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Joined
Jan 22, 2014
Messages
3,968
The answer to your question is that before you buy any diamond, you need to see photos of the “actual” diamond because not all “G / H colour Si1” diamonds are created equal.
Some Indian sellers are notorious for showing a photo of a diamond with a “disclaimer” that the photo is basically only representative of what you’ll receive and there’s a “ + / - “ caveat in the fine print!
 
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