Diamond prices

I wouldn't get too caught up on whether some guys in the souq call themselves 'wholesaler' or 'retailer'. They probably just use the word to get the psychological edge. At the end of the day any diamond seller will get the most money they can out of the sale and it's up to you to be extremely informed before coughing up any amount of money. 1hen we were shopping for my engagement ring diamond we looked in Australia, South Africa and the US and I believe there are good diamonds and prices to be found all over Dubai and in the Souq or Dimaond Park. We looked into the certificate situation and it seems that yes, the most relied upon certificate is GIA. If the diamond is good, they'll comfortably present it to the GIA for certification. It also helps the diamond hold its value. Other companies may be easier in their grading than GIA bit if that doesn't bother you then don't worry! One thing that hasn't been discussed here is that CUT is possibly one of the more important aspects and from my understanding, an H coloured diamond with an excellent or very good cut (polish, symmetry, cut etc) might look far more impressive than a D coloured diamond with a lesser quality cut. Don't forget to look for very good, excellent or ideal cuts when you are making your choice! To get an idea of a fair price there is a data base of diamonds (bluenile.com) from New York (New York if not the US) that you can look up the exact stats of the diamond you are going to buy and see what you would pay in New York. From there, I looked to pay less for the diamond, EG My diamond I got is a 2 carat cushion cut GIA certified D colour VS2 Clarity Excellent Polish Very good cut very good symmetry and I bought it in Dubai in the Gold and Diamond Park for 66,000. Roughly about 18,000 US dollars and on Blue Nile I would have paid about 20 - 21 k for a similar diamond. In Australia I would have paid 24 k-ish! I have since had it checked in Australia and without giving them any details asked them to tell me about the stats of the diamond and they told me exactly what they thought its stats were and were pretty spot on. Just know what you want, look up the data base so you have a maximum price in mind and then go bargain them down as low as you can! When I saw my diamond it was in a ring with loads of diamonds set around it and I couldn't get a proper look at it, but since it had the right stats I asked them to rip it out of the ring so I could look at it better, which they did. When I saw it it looked lovely to me and that is an important part too. Is it YOUR diamond? If you've done your homework and then you also just love it then you can go ahead with confidence as long as they are willling to do the right price!

I wouldn't get too caught up on whether some guys in the souq call themselves 'wholesaler' or 'retailer'. They probably just use the word to get the psychological edge. At the end of the day any diamond seller will get the most money they can out of the sale and it's up to you to be extremely informed before coughing up any amount of money. 1hen we were shopping for my engagement ring diamond we looked in Australia, South Africa and the US and I believe there are good diamonds and prices to be found all over Dubai and in the Souq or Dimaond Park. We looked into the certificate situation and it seems that yes, the most relied upon certificate is GIA. If the diamond is good, they'll comfortably present it to the GIA for certification. It also helps the diamond hold its value. Other companies may be easier in their grading than GIA bit if that doesn't bother you then don't worry! One thing that hasn't been discussed here is that CUT is possibly one of the more important aspects and from my understanding, an H coloured diamond with an excellent or very good cut (polish, symmetry, cut etc) might look far more impressive than a D coloured diamond with a lesser quality cut. Don't forget to look for very good, excellent or ideal cuts when you are making your choice! To get an idea of a fair price there is a data base of diamonds (bluenile.com) from New York (New York if not the US) that you can look up the exact stats of the diamond you are going to buy and see what you would pay in New York. From there, I looked to pay less for the diamond, EG My diamond I got is a 2 carat cushion cut GIA certified D colour VS2 Clarity Excellent Polish Very good cut very good symmetry and I bought it in Dubai in the Gold and Diamond Park for 66,000. Roughly about 18,000 US dollars and on Blue Nile I would have paid about 20 - 21 k for a similar diamond. In Australia I would have paid 24 k-ish! I have since had it checked in Australia and without giving them any details asked them to tell me about the stats of the diamond and they told me exactly what they thought its stats were and were pretty spot on. Just know what you want, look up the data base so you have a maximum price in mind and then go bargain them down as low as you can! When I saw my diamond it was in a ring with loads of diamonds set around it and I couldn't get a proper look at it, but since it had the right stats I asked them to rip it out of the ring so I could look at it better, which they did. When I saw it it looked lovely to me and that is an important part too. Is it YOUR diamond? If you've done your homework and then you also just love it then you can go ahead with confidence as long as they are willling to do the right price!

After reading all the posts was hoping to get a name of the wholesalers/ retailers...Anyone ??

2 ct, Vs2, color H. According to my DH 56.000 dhs. IGI certificate. And we used the same company as Farah, Rob, etc did. More than happy!

Instead of going to G&D or other retailers, find a reliable wholesaler. They will sell you diamonds and other jewelry much cheaper than retail shops. As some posters before, I recently visited a wholesale company and got myself a diamond, had it made as per my instructions and got it 15.000 Dhs cheaper than the cheapest quote I got from G&D Park. And got it delivered home by the manager. It was my 15th wedding anniversary gift from my DH and still can't take my eyes off my 2 ct diamond.... :) edited by AnnieF on 15/06/2011 Care to share?

Instead of going to G&D or other retailers, find a reliable wholesaler. They will sell you diamonds and other jewelry much cheaper than retail shops. As some posters before, I recently visited a wholesale company and got myself a diamond, had it made as per my instructions and got it 15.000 Dhs cheaper than the cheapest quote I got from G&D Park. And got it delivered home by the manager. It was my 15th wedding anniversary gift from my DH and still can't take my eyes off my 2 ct diamond.... :) <em>edited by AnnieF on 15/06/2011</em>

The price indicator for the cut diamonds is Rappaport (RAP) list. For diamonds between 1.5-1.99 cts, VS2, F, the price is around 12.000 USD/ct, while for diamonds between 1.00-1.49 cts. is around 800ot your diamond (make sure is 1.5 cts) would be around 66000 AED, but the price is usually 15-20% under the RAP price, which is around 52000 AED. Nobody sells diamonds nowadays at premium. IGI certificate is good, but GIA one is more common here and might downgrade your diamond in clarity and colour. Also, if you have an IGI certificate and wish a GIA one, will cost you extra 400 USD and will take like a week or more to get it. I'm quite involved in dimond trading and NO, I do nOT advertise myself but I can advise on this matter.

Tifanny, Rob, Farah - please give up, its becoming two obvious now!!

Yup tiffany01 - directed my friend to Bond St Jewellers who is interested in buying a 3 ct hear shape diamond H VS2. Came back to me saying that these guys have over 500 diamonds in stock and the prices given to her were much cheaper then retail prices.

The price of AED70,000 is not that off the mark as a friend of mine recently bought a 1.53 Karat ring from Meena jewellers in Bur Dubai for AED53,000. Not sure what certificate she got. Hers is a G/H colour. Hope this helps.

tiffany01 - have used them for sometime now and they are quite good. Professional wholesalers <em>edited by farah123 on 08/06/2011</em>

Thanks to some of you. They really are a great find (Bond Street Jewellers). Excellent website and yes they are GIA certified. Asked for a few quotations on their Live Chat and got friendly support and service. Definitely the prices are good.

No problem Sue R, I can only speak from my experience. Inga 3 - maybe it is better however I was very happy with my purchases and the valuation I got from home.

Just read your comments AF but isn't it better to buy from wholesalers than retailers ???

Not doubting your word or experience at all AF, but have a feeling this place was the same one that caused a huge amount of stress for someone who posted on here that their diamond turned out to be far inferior to what they paid for and they had great difficulty getting their money back. Oakland I think?

No problem Clairehdp. His name is Mithun at Brilliante. The shop is small and not glitzy looking but he was recommended to me a few years ago and I've found his prices v good. I've bought two solitaires from him - the last one a few weeks ago. He doesn't do much bargaining - what you see is what you get. I had specific instructions re the 4 C's and also wanted GIA. I tried every shop in the G & D park to try and better his price and I mean EVERY shop and I was comparing like with like. The diamond prices have increased over the last few weeks... Also, with my own ring - he sourced that for me. I had to wait a little while but it was worth it. Oh and I'm worth it LOL <em>edited by artyfarty on 07/06/2011</em>

Just been through this buying a similar sized diamond. I specifically wanted a GIA cert as the jewelers at home recognize it as being the best - lazer inscription being the clincher. The diamond has since been valued at home for over double the price paid. Having said that, my own ring isn't GIA but I think still fabulous. Some of the jewelers in the G&D park have GIA certified diamonds but many don't. I was lucky that my guy had the diamond already - I would be wary of ordering one in as some shops were asking for a 10% deposit. It would be advisable to see the diamond first before you hand over any money. Hope this helps Can you let us know who you used please AF.

Just been through this buying a similar sized diamond. I specifically wanted a GIA cert as the jewelers at home recognize it as being the best - lazer inscription being the clincher. The diamond has since been valued at home for over double the price paid. Having said that, my own ring isn't GIA but I think still fabulous. Some of the jewelers in the G&D park have GIA certified diamonds but many don't. I was lucky that my guy had the diamond already - I would be wary of ordering one in as some shops were asking for a 10% deposit. It would be advisable to see the diamond first before you hand over any money. Hope this helps

In 2006 I bought a 1.5ct VVS1 G grade Belgian diamond and paid AED55k which then seemed like a fair price. I'm guessing it could have gone up by AED10k now since in the US those specs are now priced at $20-25k. Re the certificate, it really depends where the diamond is from. Diamonds from Antwerp, Belgium will of course carry an HRD rating and those from the US will have a GIA rating. I have attended several talks on the subject and the one fact that seems to stick out is that the HRD grading is not as strict as the GIA one and so you can in all honesty perceive the one graded by HRD to be a notch below what the certificate states. Price wise, I haven't found much of a difference. A great website to review current prices is www.pricescope.com. I am at this point shopping for a solitaire pendant and would love to hear if someone's seen something recently that they could recommend or the names of stores that you ladies have had good experiences with. Thx

Thanks.....called them and yes they are truly professional and cheap. Got a few quotations. Whoever is interested In buying cheap and from a reliable source, do visit: www dot bondstjeweller dot com. GIA certified staff as well which is a big plus point <em>edited by rob123 on 06/06/2011</em>

Ha ha - nutty. Good one

Just been looking at loose diamonds with a friend and we are completely baffled by the prices.. My friend has found a stone that she is very interested in but not having any idea of actually pricing im worried she is being ripped off.. The stone is 1.5ct, round, F, VS2, triple excellence.. The shop have priced it at 70,000aed.. if anyone has any knoweldege or experince of buying diamonds would be great to hear what you think.. Were they wearing a mask

Hi farah123 - Just joined this morning. Saw this post last night and found it interesting but could not reply. Have some friends arriving who want to go shopping for diamonds. Will be emailing you. Thanks

Quite right SuperWoman - do check the rapaport prices and although GIA is the highest in grading it is also the most expensive. HRD and IGI are also equally good and a bit on the cheaper side. And Thanks inga3 for the detective work below.

Hi Lolly4484 - Just checked with the diamond wholesalers I know as i wanted to know myself the difference. They apprised me that the same diamond is priced at Aed 63,000 if you buy from them as they are wholesalers.

Hi farah123 - thanks for the email. Incidentally they are the same who I have been using as well for close to 3 years. A great find for you and your friends. Happy shopping

Are you willing to say which shop it is Lolly?

Keep in mind that on the GIA certificate it says that it doesn't guarantee that the diamond you have received is exactly what the GIA says it is. I always thought it was as guarantee, but a jeweller got me to read the fine print on the certificate! Umm, this is a little misleading..... I've just check my own GIA certifications, yes the certificate is not a guarantee, valuation or appraisal but it is a report of the characteristics of the diamond analyzed and described in the certificate. That seems very obvious and I have no worries about the diamonds I have. GIA obviously just state that its not a guarantee as a disclaimer just to cover themselves (especially based in America). As everything, there is fake certificates available but if you check the diamond's lazer inscripton number against the one stated in the certificate, then go on the GIA website to ensure all matches, everything should be fine. The IGI appraisals are considered (in the jewelry world) to be inferior to GIA graded diamonds - the same diamond would be possibly graded lower than what IGI would grade. A GIA certificate is more desireable but then adds cost to the diamond. I was looking at diamonds recently and most of the shops in the G&D park were only able to provide diamonds with IGI certificates - if I wanted diamonds with a GIA certificate then they had to "order" them in.