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Dubai Shopping - Buy Diamonds In Dubai
Shopping is well known as one of Dubai's leading attractions, and is a favourite of many visitors. Once you've purchased your share of gold, spices, or carpets it might be time to turn your intentions to the growing Dubai diamond market.
Exploring Dubai's Finest - Diamond Shopping
Everyone knows about the allure of Dubai's gold and spice souks, but there is a growing high value shopping commodity on the Emirate's list too - diamonds. In fact, buying diamonds in Dubai has now become so popular that it rivals Amsterdam as the leading global diamond centre. 2013 saw a massive $40 billion in sales.
From almost nothing ten years ago Dubai has grown into one of the largest diamond markets in the world.
This has been achieved thanks to the fierce competition, the fact that there is no VAT on diamonds in Dubai, and the efforts of the Dubai Multi Commodities Centre in its promotional activities to represent the Emirate as a free trade zone.
The Bloomberg video to the right gives some insight into just how Dubai has cemented its position as a leading diamond buying centre.
Prices for diamonds are kept relatively low, however remember that when you re-enter your home country you may have to pay the import tax. Most diamonds sold in Dubai are imported from Belgium, India and African countries such as Botswana.
If you're fortunate enough to have the money, make sure that before embarking on your shopping spree for Dubai's diamonds you study a bit about diamond quality and how to tell if you're being ripped off.
Look out for the 4 Cs - cut, clarity, color and carat.
If you buy your diamonds in the Gold Souk or the Gold and Diamond Park in Dubai you will more than likely not encounter fake diamonds. However dealers "on the street" without government monitoring or certifications of authenticity can rip you off.
When purchasing diamonds in a respectable establishment you should be given a certificate of authenticity. Thanks to strict laws you can rely on the dealers in the major malls and souks not to sell you fake or low quality diamonds. If you buy a diamond which is accompanied by a certification of authenticity you can be close to sure it is the real thing, though always carry out any additional checks that you can. Most Dubai diamonds are sold in a sealed bag along with the certificate of authenticity.
For anyone looking for a diamond ring it is important to remember that unless you are an expert it will be difficult for you to know if the cut of the diamond is good (even if the quality of the diamond is certified). If you are looking for a Princess cut you should be aware that there is not that much demand for this cut in Dubai and so you won't find a large selection.
Buy your Dubai diamonds from a jeweler that uses GIA (Gemological Institute of America) or AGS (diamond grading system where 0 is the best quality and 10 is the lowest quality) approved diamonds. If you buy from a jeweler who does not use GIA or AGS certified diamonds then ask for the credentials of the certifying laboratory.
Where To Buy Diamonds In Dubai
The most reliable and popular place to buy diamonds in Dubai is the Gold and Diamond Park.
Cara is one of the reliable stores within the shopping center which is devoted to jewelry, gold and diamonds. They can design and create jewelry for you and even take you to the workrooms in the back of the store to show you how it is done.
Other reliable stores in the Gold and Diamond Park are Momai Gems and Hemendra.
The Deira Gold Souk is also a good place to buy diamonds, among the 220 stores in the souk you'll find the Emirate Diamond Jewelry Store which has a strong reputation. Other jewelers with good reputations include Joyalukkas, D'damas, Sky Jewelry and Tribhovandas bhimji zaveri.
For some valuable info on exactly what to consider when buying diamonds, take a look at this video from Kyra.ae.
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