Diamond Price Comparison by Country
Looking for diamonds at low prices? Wondering what country is best for buying cheap diamonds? Don’t worry, we’re going to answer all your questions. Let’s discuss the factors which determine the price of a diamond, and which countries are the best to buy lots of loose diamonds.
The main aim of investors is to get a great deal for their purchase of diamonds. There are many ways that help investors and consumers lower the price of these expensive and valuable commodities. One way to reduce the money you spend on these precious commodities is to purchase them during your travels. But that can only be done if you know where to find diamonds at cheaper prices!
Where to find cheap diamonds?
Ranked by leading industry standards, the countries where you can purchase cheap diamonds are:
● The United Arab Emirates
● The Netherlands
Most investors, when looking for something as expensive as diamonds, look for places where the pricing structures are simplified, and where they can find high standards of the commodity they are in search of. If you look at it from this point of view, then these are the top-ranked countries to buy diamonds from. Because of their high supply and demand ratio, you can find the best deals on diamonds in these countries.
The reasons why they’re Cheaper in other countries
Obviously, any product is going to cheaper in places that are close to this source. The reason why their price increased in the United States is because of the long distance between the source and the market which results in a higher retail markup.
The price of diamonds is also related to their supply of resources. The difference in price is associated with the abundance of resources in other countries. Compared to the U.S, some of these countries are much closer to the mines. As a result, they receive bigger quantities, which, consequently, they are able to sell at lower prices, compared to America.
Another factor that influences the price of these valuable commodities is the rate exchange of currencies. This becomes an advantage for people in the US since the dollar has a higher value abroad than in America. This means you can purchase diamonds that are bigger and better, and that too at lower prices compared to what you originally intended to purchase them for.
Guidelines for an Overseas Purchase
Thinking of purchasing these expensive gemstones from overseas? Let us guide you to make a smart purchase!
Let’s break down the list of countries even further, and look at the tips or guidelines to follow if you’re planning to purchase diamonds from abroad. These country-specific guidelines are listed below:
Belgium has been ranked as the best market for diamond purchasing. You can judge its high rank from the fact that it is known as the ‘Diamond capital of Europe.’ you’re going to find a diamond store everywhere you go in Belgium. Some people even refer to it as a ‘Diamond Heaven.’
Investors and enthusiastic diamond buyers praise the Central Station area because it contains the most fabulous deals for consumers, especially foreign travelers in search of diamonds.
In search of something high-end? If you are then we recommend going to the Diamond Exchange or the Responsible Jewelry Council for wholesale pricing.
● United Arab Emirates (Dubai):
Dubai is one of the best countries if you’re planning to purchase this costly commodity. It’s a great place when it comes to traveling and experience. One of the most popular activities here is shopping. It’s also the best activity in this country, especially when it comes to purchasing diamonds. This is because the diamond trade in Dubai is spiking.
If you choose to buy diamonds from Dubai you will be able to get your hands on them without paying any additional taxes. This makes it an even better market for diamond buyers.
To make your transaction easier, most jewelry stores in Dubai are capable of dealing with English-speaking buyers. The reason behind this is Dubai being a popular visiting destination. Since all types of people visit this country, you are going to find English speakers as sellers here.
● The Netherlands (Amsterdam)
Another wonderful place to make a diamond purchase in the Netherlands is Amsterdam. Surprisingly diamonds are so popular in this country that Amsterdam even has a diamond museum dedicated to these dazzling jewels. The best part is, the outstanding transport system in this country makes it much easier to explore and seek out new places to shop for diamonds from. It allows you to look for diamond shops in several vicinities.
Amsterdam is famous for its flawless diamonds, the trade for which started way back, in the 15th century.
Diamond Markets: Places to Avoid
Some of the places which investors looking for great deals should avoid are listed below:
● South Africa
Even though a large number of diamond mines are located in South Africa, it is still considered a place that should be avoided for the diamond trade. For both foreign travelers and innocent citizens, Africa is not the safest country to purchase this valuable commodity from. This is because of the risks which are the consequence of conflict diamonds.
The prices may be lower, but the ethical issues that arise with diamond purchases in this country are not worth the risk.
Our main aim was to provide you with guidelines to follow for making diamond purchases. We believe that there are going to be positives and negatives of trading with certain shops. This is why it is important to first conduct thorough research, and then with the help of your common sense, deice whether it is a smart investment or not.