Buying a loose diamond internationally

[pseudonick]

Hi there

This is not my real nick because I think my SO browses this forum too.

I am planning on popping the question this year, and have just set up an appointment with a small jeweller referred to me by a friend. I told her my budget for a ring (max R40 000 - including the ring (gold), small bagettes and diamond).

She offerred me a 0.7 carat J SI2 diamond. I am not pleased at this - seems way off for my price range. I was looking at a 0.7 G/H SI1/VS2 diamond.

Anyways, I started searching online and saw on ebay there are quite a few loose diamonds on offer from various verification houses. I did my research on the verification houses and see that the value of their grading differs. The best is a diamond verified by the GIA (Gemological Institute of America) because they are the strictest.

There is also Lumera Diamonds who seem legit, and professional. They offer:

GIA Certificate
Free Appraisal
Quality Guaranteee in writing
Lifetime Trade-In Agreement
Free FedEx Priority Overnight Shipping in discrete packaging
Insured, Secure Delivery, so there is no risk to you of loss.
Insurance Kit, providing everything you need should you choose to insure your diamond.
30-day return policy

The only issue is they don't ship to SA because of "limitations in insurance coverage for high value shipments". I have queried this, to see if it still applies.

So my queries are: Has anyone imported a loose diamond before (obviously a polished one)?

How did you go about it?

What is the customs / ad valorem / vat charges? My initial research led me to believe that only VAT is charged, and importing diamonds does not attract duty. See page 420 here: http://www.sars.gov.za/AllDocs/Lega...4 - Schedule No 1 Part 1 Chapters 1 to 99.pdf as read with http://www.dutycalculator.com/

Is this correct?

 

[ShaunSA]

This is not my real nick because I think my SO browses this forum too.

I pity the poor sods whose SO's also browse here and are not going to be getting the big proposal soon

 

[Ninja'd]

So instead of breaking up with her, Lament is proposing? :wtf:

 

[I.am.Sam]

So instead of breaking up with her, Lament is proposing? :wtf:

hahah i thought the same

@ OP go to browns ...they have good quality stuff for good prices

 

[pseudonick]

hahah i thought the same

@ OP go to browns ...they have good quality stuff for good prices

Thanks, but I am trying to avoid chain(ripoff) stores.

The only local place that sometimes stocks GIA certified diamonds that I could google was www.diamondsource.co.za

Are there any others?

I pity the poor sods whose SO's also browse here and are not going to be getting the big proposal soon

That made be lol. My proposal story is quite intricant, and well though out. Will make a nice tale to tell when it's over, under my real nick.

 

[luxe]

Lots of private jewelers import stones in the same way you want to. Find a jeweler and phone and ask them what you can get for your Randela.

 

[OMB]

@ OP where are you based?

there are quite a few diamond merchants around although they don't necessarily advertise

I agree with you regards avoiding the major chains and Browns are one of the worst when it comes to ripping off Joe Public

 

[TehStranger]

@ OP where are you based?

there are quite a few diamond merchants around although they don't necessarily advertise

I agree with you regards avoiding the major chains and Browns are one of the worst when it comes to ripping off Joe Public

This. A mate of mine got a ring there for just over double what it would've cost through a manufacturing jeweler. Avoid Browns unless you feel like throwing money away needlessly.

 

[pseudonick]

@ OP where are you based?

there are quite a few diamond merchants around although they don't necessarily advertise

I agree with you regards avoiding the major chains and Browns are one of the worst when it comes to ripping off Joe Public

Johannesburg. Do those diamond merchants sell diamonds with GIA?

I'm meeting my current jeweller soon to see the diamond she has on offer. To be honest, I'm not impressed and think she is taking me for a ride. Need to get comparative quotes by then.

 

[KaMoS]

I had mine sourced through Grand Diamonds. Their service was great and very professional.

 

[APoc184]

I imported a diamond for my wife's engagement ring many years ago.

Was a 0.41ct / G / VVS2 / Round Brilliant cut.

There is no VAT or custom duties payable on imported diamonds. You might however be forced to have it sent to the Diamond Board for verification before it will be released by customs. That cost me an extra R500 back then. Didn't bother me too much though because it gave me extra peace-of-mind about the authenticity of my purchase.

Was definitely worth it. I will try and find the company I used back then. Can't remember their name but they were very professional, fast and had no problem in shipping to SA

 

[pseudonick]

./snip

Thanks! Wonder if that applies if it comes with a certificate.

 

[APoc184]

Thanks! Wonder if that applies if it comes with a certificate.

Well it all depends on the guy from customs checking your parcel. Some of them will just let it go through, others will follow protocol and have it verified.

Mine came with a full value invoice + valuation certificate + diamond exchange grading certificate.

 

[I.am.Sam]

i bought from browns and got something good ..i did some research with other guys and got something for almost the same price

it looked good and we could see it

where as making a ring would have been krap if the ring didnt come looking like what we wanted

 

[OMB]

Johannesburg. Do those diamond merchants sell diamonds with GIA?

I'm meeting my current jeweller soon to see the diamond she has on offer. To be honest, I'm not impressed and think she is taking me for a ride. Need to get comparative quotes by then.

you has PM

 

[OMB]

i bought from browns and got something good ..i did some research with other guys and got something for almost the same price

it looked good and we could see it

where as making a ring would have been krap if the ring didnt come looking like what we wanted

Browns are a total rip off irrespective of how good their stuff looks, I bought a Tanzanite ring from them that they valued at about R40k, a few years later I had it valuated by a pro diamond merchant and was told it was worth less than R7k

 

[I.am.Sam]

that is a rip off ...i never paid so much and from my budget i dont think it was a rip off

 

[MandM]

You can look at www.daneeldiamonds.co.za.

 

[Merlin]

OP: You have a PM.

 

[shogun]

@OP: If you were in cape town I'd say check out diamonds27. Or try Shimansky as they are in JHB (Sandton). They both stock GIA and EGL certified diamonds. The diamonds27 website doesn't show them though... only the store:/

Bought my SO a Shimansky ring recently... and the quality of the diamond is phenomenal compared to the **** Browns showed me! After looking around for quite a while, I was blown away by the workmanship.

Shimansky have a store in Sandton (I bought mine in CT). You can go with the small guys, but people tend to forget that size / colour / clarity only take you so far. I realized that the cut grade of the diamond is crucial to getting the right reflection, and the workmanship of the ring is a big deal.

I could not be happier with the ring (and judging by her reaction neither could she - for reference, it's an eight hearts 0.9ct G SI1). I went through a lot of other stores, and nothing came close.

Even if you don't go for something they have, at least go pay them a visit to give yourself a reference as to what a well cut diamond and well built ring looks like.

</punt>

EDIT: Feels like I wrote a badly written sales pitch there ... but it's difficult to stay impartial when you are super happy.