Where to buy the cheapest diamond in Bangkok, Thailand or anywhere in the world?

The title of this blog is a question that has been asked many times by my friends, family, and blog readers, where can I buy the cheapest diamonds in Bangkok or anywhere in the world?

Is it cheaper to buy diamonds in Bangkok compared to Singapore, Hong Kong, Mumbai, Dubai, Sydney, London, and New York? It does seem like a logical question to ask especially to someone like me who has been in the diamond trade for over 15 years.

Cheapest Diamond in Bangkok – Location

There must be a location where I can buy the cheapest wholesale diamond every time!

The truth is diamonds are highly traded commodity and almost all countries have similar pricing.

This is especially true if the diamond is purchased from a respectable diamond wholesaler, trader, or retailer. The only price difference will be that country’s tax code.  For example, diamonds are subject to 7% VAT in Thailand or 20% VAT in the United Kingdom.

Certain countries prefer SI quality diamonds like the US, while countries in East Asia (like China, Hong Kong, Thailand, Singapore, Taiwan, etc.,) prefer cleaner diamonds (VVS or VS clarity).

The reason one might feel certain country’s diamonds are cheaper than others is because a particular market –

• Have More Players (Buyers & Sellers) – when a country has more companies or consumers who sell/buy diamond jewelry they will accept lower margins and therefore diamonds will be more competitively priced.
• Are more Transparent for Diamond Pricing – Some countries have a larger online presence which means the diamond pricing will be more transparent.  This allows consumers to compare prices easily which will make diamond pricing more competitive & cheaper.

Cheapest Diamond in Bangkok – Diamond Wholesale Business

Diamond wholesalers always get a weekly price list called the Rapaport Diamond price list that provides an ‘estimate’ of how much a diamond should cost based on its 4Cs (Carat Weight, Color, Clarity, Cut Grade).

This list can be seen ‘indirectly’ in our regular updated blog post which I have provided the link to here – how much a 0.50 carat, 1 carat or 2 carats diamond should cost in wholesale.

These diamond prices are standard for all diamond traders around the globe.  Due to this price transparency, the chance of overcharging has become more difficult.  If they do try to sell at a much higher price other wholesalers, traders, or companies will enter that market and will reduce the diamond prices to global prices as it is an easy ‘arbitrage trade.’

So, the question being asked. Regarding where you can get the cheapest diamond is actually incorrect.  It is not about where the diamond is located from which determines the price, but from whom you know ‘inside’ the diamond trade, which can get you the correct wholesale price.

The Diamond Trading Process

Now let us think about this logically in how diamonds or diamond jewelry are usually traded.    There is a simple process that a diamond must go through before reaching your beautiful fiancé’s/ girlfriend’s or wife’s hands.

THE TRADITIONAL FIVE STEPS

[Step One] First diamonds have to be dug from the ground either from open pit mines, alluvial sources, or from sheer rubble (Almost impossible in the modern day).  These mines are controlled by ‘very’ large corporations or countries that have exclusive rights, so they can control the rough diamond prices.  Corporations like De Beers or countries like Russia, Canada, or Australia are now distributing all the rough diamonds.

[Step Two] The rough is sold directly to large companies through invitation only.  For example, De Beer’s rough is sold to companies who they have screened and ‘selected.’ These companies are called “siteholders.”  They have an option to buy the rough diamonds ten times during the year.  For six days this periods are called ‘sight periods.’  These companies will bid for the highest price to get the diamond rough.

[Step Three] From there, diamonds are then cut to facets that we all recognize and certify either in-house or from reliable third-party certificate providers like GIA, HRD, IGI, EGL, etc.,

[Step Four] These manufacturers will then either sell the cut diamonds to:
a) Other diamond traders
b) Wholesalers
c) Directly to some wholesale jewelry manufacturers.

[Step Five] The wholesale jewelry manufacturers finally sell their finished diamond jewelry to retailers.  This is where you will see your finished ring in that beautiful display at any big department store or boutique jewelry shop.

So, as you can see above the usual process of acquiring a diamond ring will need your diamond to go through 3 to 4 hands before reaching you.

This process is the same anywhere in the world in Bangkok, Singapore, Hong Kong, Sydney, London, etc.

You can imagine at each level the individual or company will need to make “a margin.” To sustain their business. Therefore, the more hands the diamonds has gone through the diamond distribution chain. The more you the consumer will have to pay.

Why Traditional Way of Buying a Diamond Engagement Ring or Jewelry not Relevant Today? 

Consumers still like to buy their diamond engagement ring or jewelry. From famous brands. As they ‘believe’ they are more

• Reliable
• Trustworthy
• Great return policies.

However, you have to remember the reason why these brands are famous is because they have spent a lot promoting their brand & products through ad campaigns or hired brand ambassadors.

Also to serve their clients and ‘keep their image.’  They need to hire professional sale staffs have excellent jewelry displays or are located in premium areas. So they can provide excellent services.

All this costs money
a) Marketing expense
b) Rental expense
c) Staff salaries
d) Inventory expenses, etc.

So, if you are still a traditionalist and prefer buying from “big brands.” Due to brand loyalty or convenience. You will have to pay more as nothing is free.

Traditional vs New Age Way of Buying Diamond Jewelry

The above method of buying jewelry from traditional storefronts made sense 20 years ago when we didn’t have the power of the internet and information wasn’t as available.

But, as we are now in the 21st century, the web has transformed how we can buy our diamonds or custom jewelry.

If enough research is done, you can now get the diamond and engagement ring one or two steps above the traditional retail level.   This means it is now possible to buy a diamond or custom jewelry cheaper or like a wholesaler!

The image below summarizes what I mean when I said we can ‘skip’ 1 or 2 steps above.

Example of United States of America (USA)

An example of how diamond ring purchases have changed already is the United States of America (USA).  Consumers have started purchasing their diamond engagement rings online instead of in traditional retail stores.

Large online diamond sellers like Blue Nile or James Allen are now taking market share from traditionalists like Tiffany or Cartier as they can provide better deals by exclusively selling online with ‘smaller’ overheads.

That is why most consumers and traders agree that one of the most competitive markets to buy a diamond ring is the USA.

However, this does not mean that the United States is the cheapest place.  Any respectable diamond wholesaler or our company can beat these prices – being modest of course!  🙂

Buyer tip: When buying a diamond do please check these two websites (Blue Nile or James Allen) to see how much you are paying for your ‘center diamond.’

If your contact is selling the diamond more expensive than these sites then most probably you are overpaying. You can read more about how to check if you getting a good deal from this blog post:  Step by Step Comprehensive Guide: How to get the best deal for your diamond engagement ring

Yet other countries which include the ones sourcing the diamonds, cutting the diamonds, or making the finished rings are still dependent on the “old traditional retail model” and that is why it feels more expensive to purchase diamond rings in these countries.

Cheapest Diamond in Bangkok – Check Who You Are Getting Your Diamond From 

As explained the cheapest way to buy your diamond is by getting as close to the diamond manufacturers as possible.  In most countries,  you can get there by exclusively looking at online sellers or by knowing someone who is an ‘insider’ in the diamond trade.

Most people in the diamond wholesale business source their diamonds from diamond manufacturers or are manufacturers themselves.  Therefore it just depends on how much margin they want to “extract from you” knowing that you are not in the trade.

Therefore, please remember it is not where you buy the diamond.  But from whom you buy it which matters to get the cheapest and fairest diamond price out there!

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Thai Native Gems Diamond Search & Custom Engagement Ring service (Cheapest 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

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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