Where is the Cheapest Country To Buy A Diamond Ring?

A trend that has been gaining traction lately is to ditch the local jewelry stores in your area and buy diamond rings while traveling abroad. The reasoning? You might be able to save a considerable amount of money.

So, what are the cheapest countries to buy a diamond ring or an engagement ring? There are multiple countries where you are able to secure a better deal on a diamond ring, they include:

  • The United Arab Emirates
  • Belgium
  • The Netherlands

These are among the top choices as ranked by leading industry standards. Known for their high standards and straightforward pricing structures, these countries can provide you with some of the best deals on diamond rings because there is a high supply and demand ratio.

While exploring the topic, you will learn more about this process and how to do it safely. Most importantly, you will determine which country you should visit to get the best deal on your sweetheart’s diamond ring. Continue reading so you will learn exactly where you can find the best deals on diamond rings and why.

Why Are They Cheaper?

Diamonds are cheaper in other countries when you buy a diamond close to its source. Each time it gets transported to far away locations, such as the United States, the retail markup increases. Another reason is that products are priced differently in other countries because of their abundance of resources.

Since some of these countries are a lot closer to the mines than the United States is, they are able to receive bigger quantities and sell them at lower costs. One final factor to consider is the currency exchange rate. Your dollar might be worth a lot more abroad than it is worth at home—this means you will be able to buy a diamond ring that is bigger or better for the same price or less than your intended budget.

Where to Buy

Breaking the list of countries down even further, you need to know where you are going once you travel the distance. Below are some guidelines that you can follow if you are interested in making an overseas purchase.

United Arab Emirates (Dubai): Dubai is a great place to travel to and to experience because diamond trade there is booming Shopping is also a popular activity. While you are there, you will be able to purchase diamonds tax-free, which is another perk to add to the list.

Since Dubai is such a popular destination, almost every single jewelry store is equipped to deal with English-speaking visitors—this makes your transaction even easier.

Belgium (Antwerp): Known as the diamond capital of Europe, it holds its ranks amongst one of the best places to shop for diamonds. There are many jewelry stores that line each of the city’s streets, so the competition is bustling. Some have even labeled it “Diamond Heaven.”

Notably, the Central Station area has been praised for containing the greatest deals for foreign travelers. If you are looking for wholesale pricing, you can visit the Diamond Exchange or the Responsible Jewellery Council for something high-end.

The Netherlands (Amsterdam): Not only is Amsterdam a great place to shop for diamonds, but the people there love them so much that they even have a museum dedicated to them! With the excellent transportation system in The Netherlands, you are able to take the train to many vicinities to explore several shops.

The diamonds there should be flawless, as this trade has been going on as far back as the 15th Century.

Where Not to Buy

South Africa: Since South Africa is a source for many diamond mines, this might surprise you, but it is one of the places you should avoid buying from. Because of the dangers involved due to conflict diamonds, it is not the safest opportunity for a foreign traveler or the innocent citizens.

Even though the pricing is a lot lower, the ethical concerns that come attached are a far greater issue.

India: Buying diamonds from India is a problem because they don’t ban conflict diamonds that come from the bigger sources. You are still indirectly facing the same issues as you would if you bought directly from the source. While shops might mean well, ethical concerns are no concerns to most places there.

The Takeaway

Before you get on a plane, make sure you do plenty of research. Do not be fooled by any “certifications” or paperwork that is presented to you. It does not guarantee that you are going to be making a purchase on a great deal.

This article can remain a guideline for you to get started on your journey. There are always going to be both good and bad shops to do business with, but you must rely on the research you perform and your common sense to figure out if it is a worthy investment. In the end, you might end up walking away with a fantastic deal that your future partner will love!

Carl A. Jones, GIA GG

Carl A. Jones is a GIA Graduate Gemologist with over 20 years of experience in the diamond industry. He is an independent jewelry appraiser. He specializes in determining the value of diamonds and advising consumers on how to buy quality diamond jewelry.

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