- Engagement Ring in Australia and America. Which is cheaper?
Engagement Ring in Australia and America. Which is cheaper?
Now that you’ve decided to pop the question, you search for an ideal engagement ring. But where to buy it? How to spare the budget and get the best sparkle? Where to find a top-notch quality diamond without being deceived? We’ve got your back. Here’s all the info you’ll need to make the smart purchase:
Since America has the biggest diamond market, people assume it is cost-effective to buy engagement bands from there. However, this common opinion is nothing but fiction.
The priciest part of any engagement band is a diamond. Nonetheless, this glittering beauty has become a commodity over the past few years. The prices for brilliants are similar across the globe. If you were hoping for a big-time gem discount in America, you are in for a disappointment. That said, there is one way to save some money. You can try ordering an engagement ring directly from a mining country where traders aren’t required to pay enormous shipping bills and, thus, put more agreeable prices. Not to mention: they usually get the first hold of exquisite stones.
Which Mining Country to Choose?
We recommend selecting Australia. It runs the largest mining operation and offers a whole package of benefits for customers abroad. To begin with, you don’t have to pay any duties, fees or taxes for a piece of jewellery valued below 800$. Most clients are concerned with the importing technicalities and duties. However, the agreement between Australia and several European countries and America grants duty-free transportation for the mentioned above sum. Most of the loose diamonds are imported without any charges too. If you aim for a juicier precious stone in a setting, the import duty constitutes around 5% of the purchase. Check the Harmonized Tariff Schedules or ask the jeweller’s shop for the exact rates. Some stores will offer you a GST rebate, meaning they will partially cover your taxes.
According to recent studies, the average cost of an engagement band in Australia is between 5 000$ and 5500$; in America, between 5 500$ – 7000$. Of course, such statistics are highly subjective because there are a lot of factors( like 4C’s, type of metal and its weight, type of setting) to account for. To give you a general hang of price variations, we’ve compared the assortment at two reputable jewellery companies: GS Diamonds Melbourne, Australia and Jared, new Jersey, USA. The classic solitaire ring with a round diamond in white gold costs about 1300$ on Jared’s website and 800 $ on GS’. The solitaire cushion in yellow gold is valued at over 1200$ and 750$ respectively. As you can see, the difference is about 30 per cent!
Last, But Not Least- Quality Assurance
Diamonds exported from Australia go with a GIA certificate, a document that ensures rigorous standards. Each stone is examined to meet the international criteria and graded. In addition, many online stores have a 3D feature. You can rotate any ring and check for visible flaws. On the off-chance, the ring you ordered doesn’t correspond to the description, don’t panic; you are protected by local laws and can rightfully demand your refund.