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Diamonds in Colombia


Valdemar
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Dear forum, I am looking for some advice on buying a diamond (ring) for my colombian finace. I am going to Colombia a month from now and I was wondering if there can be anything saved by purchasing the diamond in COlombia instead of here (USA). I can not seem to find any sources about diamond mines in Colombia and I am therefore concerned that I may ending up paying the same or more.

 

Best regards,

Jens

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The least expensive and most efficient market in the world for diamonds is the United States.

 

This seems counterintuitive to many people because there are no commercial mines here, most manufacturing is done elsewhere and we have tons of ‘middlemen’ who want to get a piece of the action. It’s worth noting that not all dealers are the same and there are plenty of bad deals to be had here as well. The key is that shipping diamonds around the world costs almost nothing when compared to the prices. An Australian company mining a stone in Canada, cutting it in Thailand, grading it in California and then selling somewhere else entirely makes a remarkable amount of sense. The US is efficient because we’ve got good laws, good infrastructure (like banking, shipping and the like) good security and a ton of customers. Although there is some argument for buying a stone from a dealer close to home, and if you were a Columbian resident I would encourage you to consider shopping there for that reason, it makes very little sense for an American to do so unless you’ve got some emotional reason to be shopping there.

 

Overseas customers regularly find that they can get the best deals by coming to the US for their shopping. This includes people from diamond producing regions like South Africa, Israel, India and China.

 

Neil

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