buying diamonds in Colombia

[Sol]

Hi,

I've got two conflicting opinions on whether diamonds are much cheaper to buy in Colombia or in the US so I'd be interested to know of any experiences any of you have had buying diamonds in Colombia. I don't think there's any dispute that emeralds are cheaper in Colombia since they're mined there, however, a friend whose father imports diamonds says that the Debeers cartel tightly regulates the wholesale price throughout the world. This leaves the question of how much of a markup there might be in the US vs. Colombia and what taxes might be imposed upon importers in the U.S. vs. Colombia.

I'm trying to decide whether to buy the engagment ring here or (more likely) let her choose the ring there.

Any actual experience buying diamonds in Colombia?

Thanks,
Sol

[Edge]

... in response to buying diamonds in Colombia, posted by Sol on Aug 12, 2001

Sol - here is where I went:

Plateria Ramirez
Carrera 11B, #18-64
Cali
telefono: 8823263

This is a jewelry factory that has a showroom.  This is where we bought my fiancée's anillo de compromiso.  It is an emerald.  I am also going to have her buy our wedding bands there soon because everything is inexpensive.  It is all 18k also.  I saw big thick wedding bands there for $100.  All of my girlfriends relatives that live in the states go there when they go back to Cali to visit.  I did not see any diamonds, maybe some cubic's.  However, the gold there has a good reputation.  Also many items in silver.

I was happy not to buy her a diamond and support the Debeers (sp?) cartel.  Why pay all the money on a diamond and make them richer?

Just be aware that the area is not that great that the factory is located in.  It is a good sized brick building, but the surrounding neighborhood is nowhere for a gringo to be.  There were taxi's waiting when we left, but you might want the one you came in to wait for you until you return.

Take care.  

[Michael B]

... in response to buying diamonds in Colombia, posted by Sol on Aug 12, 2001

Don't buy a diamond, they use emeralds for engagement rings.

[tommi]

... in response to buying diamonds in Colombia, posted by Sol on Aug 12, 2001

Be very careful. A very close freind of mine is a diamond wholesaler here in Los Angeles' largest jewelry district. It is true that diamond prices are closely regulated and that "price breaks" are questionable. Keep in mind that at least here in the States you can get certificates rating the quality and authenticity of your precious stone. Are you really going to trust someone in any Latin American country to do that?

Don't take a chance losing that kind of money. Buy a "cheapy" band here now and let her pick a diamond later when she gets here. Why take a chance?

[FenixRises]

... in response to Re: buying diamonds in Colombia, posted by tommi on Aug 13, 2001

Or as has been suggested elsewhere buy a Cubic Zirconium ring, it's almost indistinguishable from a diamond and about $100 a carat. If the relationship flops you save a bunch and if it goes well you can replace it with a "Special" one or two year anniversary gift.
Fred