Stones from the Mid East

[inyminy]

This is a long shot, but does any one have any knowledge of diamond buying in the Mid East, specifically Egypt? My MIL is going soon and I am interested in having her source a large RB for me as I've heard prices are significantly better there than the States. Does anyone know what % of savings one can expect? Do they have the same grading system? Do they carry AGS Ideal cut stones or some equivalent thereof? I am concerned because I do not know if they carry the best cuts and I don't want to get a dud. Any thing specific to look out for?

 

[denverappraiser]

Your premise is incorrect. Location is not a significant variable in diamond pricing. FedEx will deliver a stone around the world for less than $100 and EVERY diamond dealer in the world is aware of this. The difference between markets has to do with taxes, local market conditions like rents and employee costs, advertising and similar costs. It is ABSOLUTELY FALSE to say that diamonds are cheaper in Egypt, Israel, Belgium, India, New York, India or anywhere else. In terms of market efficiency and competitiveness, the US internet seems to be the cheapest as a rule although there are exceptions on individual stones from time to time and there are reasons for non-US residents to shop near home even if there's a premium to the price.

 

[motownmama]

Wow - well expressed.