Why buy diamonds in dubai
Posted on December 19 2020
For all the ladies who love owning diamonds. Dubai is an excellent place in which to buy quality diamonds at prices which can sometimes be almost 50% cheaper than in other countries. This is primarily because of two reasons: because of Dubai’s tax-free business module, you do not have to pay taxes on diamonds bought in Dubai and because of Dubai’s strategic location, most diamonds, which arrive from India and Russia, do not have to travel such great distances to reach the country. When buying diamonds in dubai only 5% vat is needed to be paid unlike most other places which in taxes and vat alone add 300% to the diamonds price.
Diamonds are valued for their beauty and perfection and are considered by most, above gold, to be the ultimate gift of lasting love. As buying a diamond can set you back quite a bit, make sure that you buy from a reputed jeweler who will give you a certificate stating all the relevant details of the diamond including where it is mined from. According to Dubai law, diamond merchants are required to give these certificates for every purchase of an authentic diamond product. A diamond’s quality can be determined by several distinguishing features commonly referred to as 4C: cut, color, clarity and carat. Pay attention to these when making your purchase.
Diamond Cut: This refers to the workmanship and the quality of a diamond in terms of sparkle, brilliance and fire. At the end of 2005, the Dubai Metal and Commodities Center (DMCC) revealed the exceptional ‘Dubai Cut’, a 99 faceted diamond inspired by the 99 names of Allah.
Diamond Color: As a general rule of thumb, the less color a diamond possesses the more valuable it becomes.
Diamond Clarity: This measure the clarity of a diamond with grades running from ‘Flawless’ without any imperfections to ‘Included’ which will not be as perfect in terms of clarity.
Diamond Carat: Refers to the weight of a diamond; the heavier the diamond the more valuable it becomes.
Diamond Certification: Often referred to as the 5th ‘C’, a diamond certificate is issued by a third-party agency, not buyer or seller, authenticating the characteristics of a diamond. The most recognized of these is the Gemological Institute of America (GIA) and the Internation Gemological Institute (IGI)
In Dubai the Only Reputable Grading Laboratory is IGI, but that does not mean you cant get GIA certified diamonds. its just that because they need to be shipped abroad they take longer to get certified and cost more.
Dubai is one of the largest diamond trading hubs in the world and as such there is fierce competition between the diamond wholesalers and diamond retailers because of that you will notice that diamond in dubai have significantly lower markups compared to the rest of the world.
Whether, you’re looking for a diamond engagement ring, earrings, necklaces or any other diamond jewelry item buying diamonds in dubai is the best decision you can make.