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buying diamonds in china, compared to canada


alin
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Hi there, i'm currnetly on vacation in Shanghai, China, and i had the urge to buy a diamond ring. They have so many stores here and there are so many diamond rings. Of course i will buy my ring from what they call a "counrty/gov't" store, but i'm still quite clueless.

I'm not buying a really big diamond, just .24 carats in a solitaire setting (platinum/white gold). I don't know the dimensions of the diamond but i know that the clarity is VS1 and that the color is H. It's round, i forgot to mention.

I know there are so many other factors (which i have read from this site, and they confuse me), but how much should i expect to pay for this ring???

If it helps, it is 2.33 grams of platinum (24K).

 

Is it ok to buy a diamond from China? Am i getting an ok deal? Or should i just buy one when i get back to Canada? I read somewhere that China is worlds 2nd largest diamond distibutor. So does that mean i will get a good deal?

 

Thanks so much for taking the time toread this!!!

-anna

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Diamond prices are fairly uniform throughout the world.

 

Part of the cost of buying a diamond is the risk you'll get ripped off. Therefore, I would purchase in the country that has the better consumer protection laws. My guess is, that is more likely to be Canada than China.

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China is a major manufacturing center but ther is very little mining there (currently). They have a substantial import tax that will be added to stones that are bought by consumers in China that the manufacturers don't have to pay. They also have some peculiar foreign exchange rules at those gov't stores. The result is slightly higher prices for items pruchased there. This can easily be offset or amplified by the possiblity of a dealer who is willing to take a smaller margin or by the added value of a designer who is making exactly the right piece for you and who happens to be located in China. Buy from a jeweler you trust. It's not the address of the store that makes a good jeweler, it's the character of the people behind the counter.

 

Neil Beaty

GG(GIA) ISA NAJA

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