Alright bros....As you may know i will be travelling to Hong Kong in a few weeks...

I am planning to buy my other half a diamond ring....

Are the diamonds cheaper in Hong Kong or the UK....

And any recommendations on retail or jewellers in Hong Kong...

from my experience, the diamond itself is not necessarily cheaper than in a comparable Chinese-owned jewelry store in the US, probably about the same price, but there is cost savings because 1) the band and design wil be cheaper because of cheaper labor costs and 2) no taxes to pay, whereas where I live in the US, there's almost a 10% sales tax.  I guess it all depends on what you are comparing the costs to.

My feeling is that if you shop in Mongkok, the prices may be slightly cheaper, just like with anything else.  Since there are so many jewelry stores, I think everyone is pretty competitive.  I'd stick with the big guys like Chow Tai Fook or Chow Sang Sang.  And don't forget to negotiate.

If you do buy a diamond, make sure you don't get ripped off.  First make sure the business is reputable. Second get a certification of the diamond. It has information like size, color, and clarity and rating.  Next, asked them if they have a machine to check if the ring is real.  When you put the diamond on the machine. The machine will tell if it is fake or real by a light or sound.

Please, note all precious metal and gems are selling at their historical highs.

[ Last edited by  Weelock at 14-1-2010 05:27 ]

My experience is different from JeSun...I think Diamonds are cheaper in HK...

and I would stay AWAY from the big guys...go to the smaller diamond retailers...you can bargain much more...just make sure u look at the certificate...

What most people do is buy the diamond itself at small retailers and then go to private jewelerys to set the stone on a ring...which is much cheaper than buying a ring at Chow Tai Fook...and you get EXACTLY what you want....

If its expensive, shop for the stone first then get a good trusted jeweler to make it for you.  Make sure the stone is GIA certified & nothing less.

Obviously, if you know people in the industry...especially someone who is connected to gemologist can def. help you.  

To some degree, diamond stones have a world quoted price...kinda like universal stock price.  

If you have ques. about stones in general, pls feel free to PM & ask away.

Thanks for the advice you Bros have given me...

A few questions...

Bro Jesun..

Where is Chow Tai Fook or Chow Sang Sang located..

Bro Weelock..

Do all jewellers have this machine and is the reason for asking to use this machine because jewellers try to rip you off..

Bro Paka...

Do you have any recommendations of small respectable jewellers in HK...

Alright bro Sirtiger..

Where would i be able to buy a diamond stone on it's own..Is there a wholesaler in HK..And where would you recommend me getting the ring set...

Does anybody know the difference between the prices between carots of diamond quality is in HK?  I would believe it would be cheaper however I haven't really seen the prices.

If you can wait a few days and your are serious, I have to go to my sister's house to get a picture and for more info.

She has a machine that checks if it's real or not. It will not tell you how about clarity, size, rating or color. She knows a little about diamonds. After purchasing a NEW diamond, if you want to sell it, it will only sell for maybe 1/2 to a 1/3 your price. In other words, there is no value or market for used diamonds. Used diamonds don't hold their value. Check out craigslist.org if you don't believe me. My sister has brought some used diamonds selling less than a third their original price.

In my opinion, the less you know about precious metals and gems it is better to go to a reputable large place. It is less likely you will get cheated but it will cost more.

On the other hand, the more you know about precious metals and gems,  you can go the the smaller businesses to get a better deal.

[ Last edited by  Weelock at 14-1-2010 08:21 ]

Sorry about all the questions bros...

I just want to keep my options open...

There is a January sale on in the UK...Diamonds are near enough half price from the original price...

I check the price of the diamonds on 365 diamonds.com.

Cheers bro.. I do know a little about diamonds but i am very intrigued by this machine...How does the machine know if the diamond is real... I am really curious and also bro...What is your sister doing with one of these machines...

hard to write out all where to start.  You need to figure what you want & how much you wanna spend.  I would assume you have a design in mind.  If not then you can get run of the mill mass production item.  If it runs a few thosands or more, then you start to get into a custom piece than mass production

Well you have an idea how much you wanna spend.  The budget usually determines what stone you can get.  In most cases, you want a good balance of everything (as in the 4 Cs and more).  Then you need to shop for stone like buying a ideal car with the options you want.  If you know a gemologist, bring them along.  Then get the stone then find a designer you trust to make the mold  into what you want. You kind of want the metal to be build for a particular stone oppose to a stone that is forced into a already made piece.  Also with custom, you have a lot of options like 950/850 platinum, 24k gold, 14k gold, silver, white gold, etc etc

you can try to price it & get a feel via bluenile.  prices are in usd
http://www.bluenile.com/diamond-search?pt=setform#grid

damn paka, now you make me feel like a monger who spent $1500 on a lay in Wanchai when he could have had it for 1/3 to 1/2 the price elsewhere .

I've always been skeptical about online gem pricing, at least it's never seemed like much of a discount to me.

For really good stones, VVS and better, F and better, cut good or better, a retail price of $8,000/carat is likely so if you can get it closer to $5K you're doing well.  And like the others have said there's big variability depending on the stone, the source, etc.  Don't be shy about going for a "used" rock, I've heard that a surprising number of used diamonds get recycled back through the "new" channels anyway.

One handy trick, bring a sheet of high quality, premium white bond paper with you.  Crease it down it's length and set the stones in the crease.  Even the slightest variation in color will be immediately apparent to your eye.  Otherwise the merchant will be displaying the stones on a gray, black or off white mat that can disguise the color of the stone.   Personally, I've always found that color was more important than an occasional inclusion, for instance, what stone does she already have and what will this new one be sitting next to?  If she's wearing a D color diamond and you buy her a G or an H it will be noticeable.

Good luck and remember: when in doubt get a cubic zirconia and spend the money you've saved on hookers!

I take it you are talking about US$, because if you were talking about HKD, I'd be on the next plane out.

I'll second sirtiger.  Bluenile will give you a list of loose diamonds by all the 4Cs. Print them out and bring it to HK so that you can have an exact comparison.

It is cheaper, but you must have some basic knowledge about diamond if you want to go shop around in Hong Kong.

The best place to buy diamond is at Hong Kong Jewellery Show, it's really cheap and the quality is guaranteed. If you are lucky, you can get a big discount on the last day of the exhibition. As fas as I know there are three major Jewellery show in Hong Kong, one in March (I think it's from 5th - 9th this year), in June, and the biggest is on September.

hot damn, I probably will be in HK the first week of March.  Where is the HK Jewerly Show going to be at?

I wouldn't use Blue Nile as a price point.  I see rocks cheaper in San Francisco than on Blue Nile.  Classic case of everyone assuming the internet price is cheaper when in fact it isn't IMHO.

well.. there's a benefit of purchasing diamonds in hong kong..
The diamond industry is governement controlled.. so if you buy it in a shop, you know your getting the real thing as well as a high quality one... unless you purchase it from the street...  the other benefit is that there is no tax when you buy it there.. but if it's cheap, that depends where you buy them.. if you want cheap diamonds... take a plane to the carribbeans and get a diamond off those islands..