Is it cheaper to purchase diamonds in South Africa?

Is it cheaper to purchase diamonds in South Africa?

Purchasing a piece of diamond jewelry marks a special occasion and commemorates the
moment with something that is not only spectacular but tangible too. It is an emotionally
rewarding investment. South Africa is famous for producing exceptional diamonds in both clarity and color.

This doesn't always mean that finding diamonds in South Africa is always easy, however, the best deals ultimately arise from well-informed decisions. From the early days of discovering diamonds, people have always been fascinated with this glittery gemstone. South Africa has played a key role in the history of diamonds as 65% of all diamonds have been mined here.

Before diamonds were discovered in Kimberly, they were extremely rare and found only in small quantities in South America and India. Today, South Africa continues to be one of the world's major producers of diamonds and is plays a major role in contributing to the economy of the country.

So, is it cheaper to buy diamonds in South Africa?

As most diamonds are mined in South Africa, many people believe that purchasing diamonds in South Africa is much cheaper relative to the rest of the world. This is not always the case. South African diamond mining is done by large corporations on huge open-casts who sell in bulk.

All sales are mediated by the central selling organization De Beers. Pricing of both diamonds and gold is standardized and is in Dollars. The best way to purchase diamonds in South Africa is to find a diamond wholesaler.

This could end up being a considerable saving on the dollar cost. The closer you buy to the source the more middle-men you are able to cut out. The cost of labor in South Africa is also relatively cheap which can also drive the cost of diamonds down.

Diamond wholesalers obtain diamonds directly from the mines and then sell them to jewelers. The prices offered are wholesale prices and much more affordable than the retail sector. All wholesalers have the facilities to have all diamonds certified and it is strongly advised to obtain certification on the diamond purchased.

How to save money when buying diamonds in South Africa

Carat doesn't refer to size

Most people would assume that a 1-carat diamond is bigger than a 0.90-carat diamond. This is not necessarily the truth. The carat of a diamond refers to the weight of the diamond and not its size. Depending on the cut, the weight of the diamond can be distributed differently throughout the diamond, making it look smaller or bigger.

On the certificate of the diamond, you will see the necessary measurements to assess the diamond's true size. Opting for a slightly smaller diamond could save you a great deal.

Low clarity can work in your favor

To the average person if you talk about inclusions or a flaw in a diamond they would
immediately flinch. Don't exclude anything until you have a detailed look at it. Most SI1 and SI2 diamonds have inclusions that are not invisible, so why pay to have a diamond with no inclusions that no one can even see?

Does the diamond have to be round?

One of the most expensive shapes of diamonds in the world is the round cut, followed by the princess cut. Instead of opting for a round or princess-cut, try an oval or cushion cut shape. This could easily save you up to 50%.

To conclude, you don't need to buy cheap diamonds, you just need to buy smart whether that's in South Africa or abroad.

Do you need a cash loan fast?

Bring your valuables to Capital Pawn and we will evaluate it and provide you with a quote for a short term loan within 15 minutes.

0/5 (0 Reviews)

× Chat To Us