Buy Diamonds in Bangkok, Thailand – Facts
First, let us get the facts straight – Is it much cheaper to buy a diamond in Bangkok or Thailand compare to anywhere else in the world?
Simple answer is NO! Thailand DOES NOT source any diamonds. IS NOT major cutting center for diamonds and IS NOT a major trading hub for selling diamonds, PERIOD.
As Bangkok has a reputation for selling cheaper wholesale clothes, shoes, and nice hotels, we assume we can find a diamond that will be thousand of dollars cheaper as well.
But, the fact is diamonds will cost you the same anywhere today as it is one of the most well-established traded commodities.
Diamond prices are based on the 4cs – Carat weight, Color, Clarity, and Cut grade. If you do find one cheaper in Bangkok it is because you are sacrificing one of these factors or got really lucky (very rarely)!
Buy Diamond in Bangkok Issue – 7% Value Added Tax
Diamonds in Thailand are also subject to 7% VAT (Value Added Tax) which the government takes when purchased locally. This is exceptionally high for diamonds or any other competitive traded commodity.
Imagine if you are in the market to buy a 2 carat, H-color, VVS1 clarity diamond. The price for this stone without VAT additional tax will be around US$30,000. After-tax you will have to pay US$32,100 or an extra US$2,100 to the government!
If all the diamond dealers actually pay VAT, they won’t be in the diamond business anymore in Bangkok. Therefore, you will find most traders avoid paying this tax.
Gold is not subject to this tax. This makes one wonder why diamonds are, but I won’t get into this topic today.
The best place to buy diamonds is actually at the major trading centers like Antwerp, Hong Kong, Mumbai, New York or Tel Aviv.
Buy Diamonds in Bangkok – Answer?
So, why am I telling you all this when the title of my article is Where and how to buy diamonds in Bangkok, Thailand?
It is important to understand the facts and not assume that any dealer in Bangkok or Thailand will provide you with the best amazing deal out there.
Also, if you are seriously in the market wanting to buy a diamond, remember to please do YOUR RESEARCH and understand what diamond quality you are buying.
Once you have an idea of what you looking for, you should go to your ‘reliable’ jeweler or diamond dealer and ask them pointed questions. Also you should verify the diamond you are getting is exactly what they have stated.
Do They Have Reliable Dealers Who Sells Diamonds in Bangkok?
Where Are They Located?
Yes, of course, and we are one of them.
There are many dealers here which are located at the end of Silom road or Suriwong side, MBK, and China Town.
For more information on how to find dealers and where they are located in, you can read my other article: How to buy gemstones in Bangkok, Thailand?
It provides you with a simple guide on how to buy gemstones and you can follow the same steps by searching for diamond dealers as well.
How Should You Go About Buying Diamonds in General?
My recommendations on how you should go about buying a diamond are shown in bullet point format below:
LEARN ABOUT THE 4CS
Do your research about the 4cs (Color, Clarity, Cut, and Carat Weight) and go to your local jeweler or diamond dealer to see some diamonds.
The best way to take a look at a diamond is to place the stone on the ringside of your hand between the fingers. This will give you an idea of how big it is, how white it is, how clean it is or how sparkling it is.
Once you understand the actual factors you are looking for you can then start searching around for the best price which fits your needs.
CUT GRADE & QUALITY
For me, symmetry, polish and cut grade is one thing you SHOULD NOT sacrifice. If you want to have the WOW, sparkle or brilliant factor of a diamond.
This is most important for the in-famous round brilliant cut diamonds. Minimum grade for all three factors should be ‘Very Good’. Ideally, one should always try to find diamonds with an “Excellent” grade though these diamonds are usually sold at a premium price.
The only way of find this information accurately is by looking at a diamond certificate. The most common certificates are GIA or HRD, which will state the diamond’s cut, polish and symmetry grade.
CHECK ONLINE FOR PRICES
You should also check online on various US dealer-based sites that will provide you with very competitive diamond prices for free.
I won’t list their names here, but you can check online and find the one which ‘use to be listed’ on the NASDAQ. If you still can’t find the diamond websites, you can send me a message at [email protected] and I will provide it for you.
The diamonds listed on this site are a great starting point. However, these websites still sell diamonds at a premium compared to any good diamond dealer.
So, remember if you can get a diamond cheaper on the US sites compare to your ‘reliable’ dealer, you are paying a premium price and you whould ask the dealer why.
Other factors that either make the diamond sell at a discount or premium are listed below:
TYPE OF INCLUSIONS
If any of these inclusions is under the table – the middle part of the diamond – will sell at a discount.
a) Black crystals
b) Gray crystals
c) White (non-translucent) crystals
d) Or large white feathers
The larger the inclusion the larger the discount. This means not all diamonds are the same even though they have the same color and clarity grade.
For example, you might find two H-color, SI1-clarity diamonds that have the same specs on the GIA certificate. However, they both have a large price differential. This can be due to the fact that one stone does have inclusions under the table, while the other does not and therefore more ‘eye-clean’ to naked eye.
Diamonds in general with medium to strong fluorescence will sell at a discount,
Reason for a discount is because of the “old wife tale” that fluorescence will cause the stones to look more milky or cloudy. In a majority of diamonds I have seen, this is not true.
Also, most reliable diamond manufacturers we deal with will state the fact if the diamond does look milky or not. So, unattractive fluoresence diamonds can be avoided easily from any good diamond dealer.
For more information about fluorescence, you can check the GIA technical report (GIA 1997 Report on Diamond Fluorescence).
In general, you should take advantage of buying diamonds with fluorescence because in my experience they ‘rarely’ affect the overall look and why not get a better deal as well?
AVERAGE CUT GRADE DIAMONDS
Diamonds with Good to Fair cut grades will sell at substantial discounts. This is how a lot of dealers in Bangkok make you believe the stone you are getting is a great deal because the diamond is not ideally cut.
Very Good to Excellent cut stones will always sell 20 to 30% more than equivalent Good to Fair cut diamonds.
TYPE OF THIRD PARTY CERTIFICATE
GIA certified stones always sell at a premium price compare to any other diamond certificates. This is because of their strict grading criteria of color, clarity, and cut grades.
I hope the above guide is helpful. If you have any more questions please feel free to provide your comments below. Or send me a message at [email protected].
[Update 11 May 2016] – If interested in reading more about how to buy diamonds online. I would recommend looking at this blog post – How to buy a diamond online in Bangkok or anywhere else?
Thai Native Gems Diamond Search & Custom Engagement Ring service (Best way to buy diamonds in Bangkok):
If you are in the market looking for the best diamond and custom hand made engagement ring. Contact Us. Let us know what your budget is and what you are looking for.
From this initial information, we will swiftly find and email you 4 to 5 center diamond options. Unlike other traditional or online dealers, I am not looking to sell you anything. But will provide you honest, frank and objective opinion in what we think is best in the budget you offer.
This service is free, and there absolutely no commitment to buy any of our suggestions. The only thing you have to do is not respond to our email and you won’t hear from us again! So, you truly have nothing to lose!
How do we compile this diamond list? Our search process is provided below:
1) We first will contact our local diamond supply network and check if there are any stones that fit your requirement in Bangkok. We have over 50 contacts in Bangkok and will check ALL to make sure we can provide you the best deal.
2) If not satisfied, we will then check online through our extensive global network sifting through over 900,000+ diamonds. and will find you the best diamond. The only setback when choosing the diamond from this global list is, it can take one to two weeks to arrive to Bangkok.
What type engagement rings can you make and how are they made?
1) We usually set our engagement rings in 18k yellow or white gold or 950 platinum settings. Our rings are all hand-crafted and made by highly skilled Thai craftsmen.
Examples in some of the rings we made you can see on our YouTube channel and shown below:
YouTube Channel PLAY LIST
Contact us today to get all your wholesale gemstones, diamonds and jewelry needs. We can Source, Search and Supply anything you require.
What will you get if you contact us
- Start a conversation with us at FB.com/ThaiNativeGems/
- Get wholesale and highly competitive prices of gemstones & diamonds from anywhere through our extensive network of contacts around the world
- All stones sold by us is verified in house by our GIA Graduate Gemologist or certified
- We provide personalized service and NOT the same old “One Size Fits All” Approach
You can learn more by clicking here or image below