Diamond advice needed
Q.I'd like to get your opinions on how much the following *loose* diamond should cost... - 0.55 carat, round brilliant cut, VS1, G Color, Excellent symmetry (displays hearts and arrows), excellent polish, no flourescence, good proportions, with GIA grading report/laser inscription. It also has the additional inscription of "Hearts and Arrows." I am assuming that it is an untreated diamond (the grading report doesn't mention anything about treatment/enhancement). I've seen the above diamond offered for $3000 Cdn. (about $2300 U.S.?) which strikes me as a good deal. Could this make a turnover/profit if I re-sold it in U.K.? Also, any tips about buying diamonds in China/India which would re-sell well in the U.K.?
A.The big problem I see with your plan is that China is not a source country, nor a major cutting processing country, for diamonds. India is a source mostly for lower quality, both the gems, and the cutting. And, even if you can, by some chance (highly unlikely) locate the actual wholesale level dealers of diamonds, they'll see you coming from a mile or two away. Guess what that will do to the prices, and their honesty regarding the goods, if they even agree to talk to you or sell to you at all. You likely would have better luck shopping in the major cutting and trading centers that produce well cut, good quality, diamonds. That means places like antwerp, Tel Aviv, New York, and some areas of Russia you'll not likely be able to get anywhere near. You have to understand that diamonds, worldwide, are simply not an open market available to anyone. You need introductions, a reputation, documented substantial amounts of money (and I'm not talking a few tens of thousands here.) These markets will generally only talk to you or even let you near them if they KNOW you're already deeply connected with the diamond trade. They don't want the public anywhere near them, and so far, you're still the public. Frankly, you'd have a LOT better luck with almost any of the colored stone markets. Unlike the highly organized diamond market, the colored stone market is filled with small scale buyers and dealers. With persistance, some cash, a good gemological knowledge base, and a smile, you can often find your way into the colored stone sources, even to the mine level in many parts of the world. I know of NO small scale diamond dealers who sucessfully manage to buy in the way you propose, but I DO know quite a number of people who've done exactly as you wish, only with colored stones. It's a totally different market structure, ruled by free enterprise and market forces and cash, not by a mega monopolistic corporation.
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