What I need to know about bringing Diamonds Back

280AI

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Girlfriend is hell bent in buying a diamond or two while in South Africa. Please school me in the 'How To' bring these back into the USA.
I read somewhere if they are loose and not mounted in jewelry they are Duty-Free. I know you have to declare them at customs. but everything else is a blur.

TIA,
Ken
 
I would say you should contact Customs in the airport you will fly back to, it could get costly and you don't want a surprise
 
Go to help.cbp.gov and search or ask questions

Last I recalled loose gemstones have no duty, though you better declare them. Gems are sometimes used as a monetary instrument in illegal activities, so not declaring it looks pretty suspicious. Best to get with CBP now.

You may want to have her do some research too. Just because they are mined there doesn't mean she'll get any sort of a deal. Diamonds are pretty controlled and last I recall they go to Asia to be cut.
 
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As long as you have paperwork and they are not bicycle diamands you should be fine.......
 
In several African countries, carrying uncut diamonds is a crime. They are assumed to be stolen and good luck convincing the local that they aren’t. Just be aware of not only the import laws but the laws of the country you are in. Good luck but don’t tell us on here how it went!!
 
I assume the OP is talking about cut diamonds . . . Uncut diamonds are virtually impossible to find legally and no one but an expert could tell you if they have any value or not - since everything depends not only on the typical things like color and clarity, but more importantly, what the uncut diamonds could be cut into (which is itself an art).

So dealing with cut diamonds, I agree that just because the diamonds may have been mined in South or Southern Africa doesn’t mean there will be a deal on them or that they would be cheaper there than elsewhere. Any diamonds of any value (non-industrial) are sent to Antwerp (declining) or to Asia to be cut, and by the time they make it back to South Africa, they’re priced the same as anywhere.

Diamonds, like gold, have a global market value (wholesale and retail) which is independent of local variations, and anyone who sells below the market value is costing themselves money. Ask yourself why someone would do that for someone they don’t know and will never see again?

If I were in the market for diamonds, I would look to a local or US-based internet vendor who I would have recourse against if the diamond turned out not to be entirely as advertised. The difference in value between a VVS diamond and a VS or an SI diamond is substantial, and only a gemologist can certify which it is. Same with cut, color, etc. So some level of trust is required.

I tend to parcel out my trust carefully, and African diamond merchants aren’t on the list.
 
Unless you know about diamonds, it could be a great deal, or you might pay more than they are worth.
You are 100% spot on. Lab grown diamonds are beautiful and to an untrained eye, I understand appear virtually the same. Yet they cost much less. My wife and I were just at a local Helzberg diamond store and were surprised at what we learned.
 
I thought in the past most diamonds were cut in Israel? Diamonds sold here have been graded and priced so many times it is IMPOSSIBLE to get more than you pay for...the only exception being if a merchant/friend sells you for what they got it for years back. (or you buy stolen goods...) Worst time to buy diamonds is coming up--Valentine's Day. One merchant/friend told me "That's when we put out the "frozen spit" "on sale."

In Puerto Rico a few days ago, I noticed that no one seemed to be concerned about wearing a bunch of jewelry in public. Then we saw gold colored stainless steel bracelets for sale for $12
 
Buy cut in NYC with a GIA certificate. Have a look at Empire diamonds website.
 
Girlfriend is hell bent in buying a diamond or two while in South Africa. Please school me in the 'How To' bring these back into the USA.
I read somewhere if they are loose and not mounted in jewelry they are Duty-Free. I know you have to declare them at customs. but everything else is a blur.

TIA,
Ken

I'd think there are high-chances of you getting screwed on diamond purchases in Africa. Let me throw out a few: a.) you don't know what you're buying, b.) EIA or EGL certificate is counterfeit, c.) You're tracked/scammed/robbed/hijacked leaving. d.) customs shakes you down for a bribe, e.) it's seized as a suspected blood diamond, f.) US customs finds it suspicous if you declare it, g.) the tax/duty on it is far more than you suspected, e.) its taxed higher than you suspect as a raw material rather than a finished good, f.) I have no idea.

I don't think you're baking in the risk premium for what you're undertaking. I assume you don't know a lot about diamonds which increases the risks of being taken advantage of in this exercise. If I'm wrong and you know a ton about diamonds, you could just go to the Maller's building in Chicago or the Diamond District in NYC and connect with some Hassidic diamond merchants that sell wholesale and import from their cutters in Belgium. The rapp report shows the weekly going commoditized market rate by carat/cutt/clarity for gem quality solitaires, so you can see plain as day what the prevailing market is in the USA and satisfy yourself that you're getting a stone in America that is insurable, serialized, appraised, and bought for wholesale.

As an aside, studies have shown the more people spend on their diamond engagement rings, the higher the divorce rate. All the more reason to get your diamonds in the USA wholesale! :)
 
She's hell bent on buying them with HER money? Let her do all the research and then ROCK ON!
 
Belgium or Dubai , New York City is my suggestion
Book a diamond buying route home from your safari destination, my intuition tells me you will get the shaft in RSA , because master diamond cutting and polishing, grading is done in Antwerp !
Best place to buy diamonds is from someone getting a divorce or just got divorced ( I got my wife’s engagement ring this way paid $4500 cash and insurance company appraisal was $12,000 for a replacement after I proposed)
 
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Belgium or Dubai , New York City is my suggestion
Book a diamond buying route home from your safari destination, my intuition tells me you will get the shaft in RSA , because master diamond cutting and polishing, grading is done in Antwerp !
Best place to buy diamonds is from someone getting a divorce or just got divorced ( I got my wife’s engagement ring this way paid $4500 cash and insurance company appraisal was $12,000 for a replacement after I proposed)
Did you tell her it was 2nd hand? Oh, wait, you wouldn't be around to tell us if you told her...:A Too Cool:
 

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