Frequent question: Is it legal to buy diamonds in South Africa?

Uncut diamonds are not legally obtainable in South Africa.. at least, not without a diamond dealers / cutters licence. There are severe penalties, if found in possession of uncut stones.

Can you buy diamonds in South Africa?

Important facts about diamonds in South Africa: All large, high-quality diamonds mined in South Africa should always be sold with a GIA laboratory certificate. Never purchase a diamond without a GIA certificate.

How much does a 1 carat diamond cost in South Africa?

How much is a 1 carat diamond? A round brilliant cut, 1.00ct G colour, SI1 clarity, excellent cut GIA-certified diamond will cost approximately $6850 including VAT (~ R106,183). A princess cut, 1.01ct H colour, SI1 clarity, GIA-certified diamond will cost approximately $4584 including VAT (~ R71,049).

Are uncut diamonds illegal in South Africa?

It is an offence to place any unpolished diamond in the possession of any person, or on his premises, or on his vessel, vehicle or aircraft with the intent that he be charged with an offence.

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Can you buy rough diamonds in Africa?

Our rough diamonds come primarily from markets in South Africa, Botswana, Angola, Canada, Russia, Australia, and western Africa, but they all make their way to Antwerp. …

Can you buy diamonds cheaper in South Africa?

Are diamonds cheaper in South Africa? – Quora. No. SA diamond mining is done by large companies on huge open-casts who sell in bulk, all mediated by the Central Selling Organisation(De Beers) monopoly.

How much is a 1 carat diamond cost?

In general, a 1 carat diamond costs between $1,800 and $12,000. The cost depends on factors such as the Cut quality, Clarity, Color and Shape of the diamond. Cut quality is the aspect that most greatly impacts a 1 carat diamond’s price and its beauty.

Where can I find diamonds in South Africa?

The primary sources of all of South Africa’s diamonds are kimberlites in ancient, vertically dipping volcanic pipes, mostly located in the vicinity of the city of Kimberley and initially amenable to opencast.

Can I buy diamonds from Africa?

Many diamonds are mined in Africa but are only sold in bulk to diamond cutters. So, even if you wanted to buy a rough diamond, you can’t realistically buy this close to the source. But, if you’re traveling to one of the countries listed above, you can purchase a cut and polished diamond without buying in bulk.

What is the cheapest diamond you can buy?

The cheapest diamond cuts that you can purchase are the Asscher diamond cut and the Emerald diamond cut. Asscher shapes and Emerald shapes are cheaper is because of two factors. When cutting the rough diamond, they lose more weight.

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What happens if I find a diamond?

If you ever find a diamond ring, or any lost property, don’t assume that you can keep it. Always attempt to find the owner if possible, or turn the item in to the police. Most states will allow finders to keep the property if the owner does not show up to claim it after a certain time.

Is it illegal to have uncut diamonds?

It’s not illegal to have uncut diamonds, it is illegal to import conflict diamonds in most western countries however (it’s very hard to get a hold of a real conflict diamond these days, especially if you buy them from a legitimate business).

What happens if you find a diamond in your backyard?

If the you find diamonds or oil in your backyard it’s the governments, but if you find drugs then it’s yours. Depends on who owns the mineral rights. You could purchase property that includes the space below. … You get to keep what you’ve found, unless it’s drugs, then just keep quiet.

Who buys raw diamonds?

A few companies that buy uncut diamonds are World Jeweler, Inc. and Large Diamond Buyers, USA.

Where can I sell rough diamonds in Dubai?

38 Rough Diamond Buyers & Importers in UAE

  • White Lily Gold And Diamond Trading LLc. Whitelily Gold And Diamond Trading LLc is a bullion seller. …
  • Assurance Gem Security Company. …
  • Ortite Investment Cc. …
  • I Market Place. …
  • Diamond City Real Estate. …
  • Program I DWC LLC. …
  • Alif Gold. …
  • Mael Trading Fze.

Can you buy uncut diamonds?

Buying uncut diamonds can help you to save a lot of money. Also known as raw and rough diamonds, uncut diamonds are unpolished and unshaped. They can be grown in a lab, but are more likely to be naturally mined and can vary in size and are usually a less expensive option when compared to cut diamonds.

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