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Diamond prices in U.S., Europe and Asia


jdvivre
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Where can best deals be found for high-quality diamonds? U.S. (New York for example), Europe (Antwerp, Amsterdam, etc.) or Asia (Hong Kong, Singapore, Bangkok)?

 

Some say De Beers controls pricing worldwide so they should all be the same. But is this true?

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At the manufacturing level prices are pretty consistent across the different countries with the exception of taxes that are added in various places. At the consumer level you must also consider the varying costs charged by the jewelers, banks, shippers etc. that are involved in the deal. I wouldn’t describe it as a conspiracy by DeBeers, it's more like dealer self-interest. Shipping stones around the world is pretty easy and the dealers are happy to move things from one market to another if they can increase their margin by a few percent. Depending on what you mean, it's easier to find 'high quality' goods in certain marketplaces than others. Not everyone is looking for the same things and the dealers want to have them available in places where they are likely to sell so, if you want something unusual in your market, it can involve waiting.

 

As a rule, the US is the least expensive place in the world to buy diamonds because the marketplace is fairly efficient, the taxes are low and the laws are fairly reasonable. This is especially true for people who are residents of the US and who benefit by buying from a 'local'. The best prices in the US seem to be at the internet-only firms although they get some competition from time to time and it’s worth noticing that the deal with the lowest price isn’t always the best deal. For non-US buyers, it’s often worth considering buying in your home country even if the prices are higher but this will be an individual decision and a vacation to the US is often a nice bonus to getting a good deal on your diamond.

 

Neil

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