Diamonds, Gold and Rings... Is India Considered Cheap?

#1 May 26th, 2005, 06:52
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Just thought id start an interesting topic since I could do with the advice myself...

I have seen that plenty of the members on this forum are indian by origin but are now living outside india.

My Question is "In comparison to places like USA, Australia etc. are the quality & price of diamonds and gold cheaper in India?"

I ask cos yeah..... lets just say im "settling down" soon
#2 May 26th, 2005, 08:12
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Quality - better
Price - Cheaper , Yes

[India : Gem & jewellery exports shine 29% rise, to touch $15.67 billion in 2004-2005]
#3 May 26th, 2005, 08:16
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Indians are the largest consumers of gold in the world.
#4 May 26th, 2005, 08:17
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Yeah I understand about the GOLD

What about diamonds?
#5 May 26th, 2005, 09:06
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Quality is not as good and you can easily get ripped off unless you know your stuff. The price is not that cheap compared to SE Asia. I am in Hong Kong and most Indians who visit HK do their gold and Diamond shopping here

I have priced some 5 Carat engagement rings at Zhaveri (Mumbai) and the prices were 30% more expensive than HK. The workmanship and settings were not that good either.
Too Many Gandus, Too Few Bullets.
Last edited by oldhippie; May 26th, 2005 at 11:32..
#6 May 26th, 2005, 09:16
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If you buy your gold pure from Perth Mint in Australia for example and shop around for loose diamonds from reputable sources in Australia and know what to look for then that would be good to take to a jeweller and get made up. But I don't think it would be cheaper cause you got to pay in Australian dollars.

If you go direct to a jeweller in Australia 18 carat gold jewellery cost is astronomical. Way overpriced.

You can buy Chinese gold here in in Chinatowns but I don't like the look of Chinese gold though I know an Indian who got married to an Australian and he got a Chinese gold ring (Australian gold 18 carat rings are extremely expensive). Chinese gold is very yellow and too shiny though for me - I think there must be a huge Chinese market for that look but I don't like it.

A Perth Mint smallest pure gold coin goes for about AUD$50, that is just under 2000 rupees Indian I think? It's about 30 Indian rupees to one Australian dollar.

However, I would never buy gold jewellery commercially in Australia. As most of it is only 9 carat gold. 18 carat gold jewellery here is very exclusive and too overpriced.

If I wanted quality jewellery in Australia I would use the local Lapidary Club where many members make jewellery. I would buy my own Australian gold wholesale and the gems too and then commission someone there to make it up.
#7 May 26th, 2005, 09:22
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thanks for the interesting info there. I didnt realise that 18ct gold was way overpriced here..... I would like to get the ring in 18ct gold nevertheless since its the colour she likes..

The diamond im looking at in question is a D colour, VVS1 - VVS2 clarity.... probably around 0.25 carats.... yeah im thankful my girl likes small diamonds

Price here in Aus is A$2000 in an 18ct gold ring with any setting that I like..... I almost fell out of my chair when I heard the price...

Now my question is if I can actually buy gold direct from the mint and then get someone to make the ring, sounds like the the most cost effective option.... plus I get what I want....

another thing is time frames..... mmmm....... maybe I should propose first and get the ring made later so that she gets what she wants.......haha.....

complications.......
#8 May 26th, 2005, 09:31
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Yes, pravie, I really think it's more cost effective to buy your gold and diamond yourself and get it made up either in Australia or in India by a jeweller. Indian jewellers would be the cheapest. If you use an Australian jewellery really shop around for the price quotes.
#9 May 26th, 2005, 11:07
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Gold jewellery sold in india (and in Indian jewellery shops abroad) is 22ct. Do not but 18ct for an Indian lady: she will consider it inferior! She will not want to show it off to her friends for fear they will think it looks cheap.

It is more yellow, or to be more accurate, more golden in colour.

Please consider this seriously, as you are not going to want to make any mistakes with this important gift!
#10 May 26th, 2005, 11:22
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I do know the Indians have alot of pride, almost patriotism, for their 22 carat gold.
The Aussie-Indians I know always put in their requests for earrings and the like whenever someone travels back to India.

It does have a distinictive deeper colour than 18 carat.
#11 May 26th, 2005, 11:28
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#11
More about gold (many years back I had some experience of making jewellery)

The basics (briefly, just in case needed). Th ct measure is the measure of purity as a fraction. 24ct gold would be pure. 18ct is 18/24 ie 3/4 gold, 1/4 other metals. Why? Just to make it cheaper? In the case of 9ct, yes, 9/24 gold means that by majority it is other stuff!

Gold is very soft: it is alloyed with other metals to make it harder, to make it more workable, and alos it allows the colour to be adjusted according to the mix.

Gold jewellery is almost never made from pure gold. it is too soft. There are always exceptions! I have a 24ct Ganesh pendant...

Buying pure gold? Sorry but this is nonsense. It is like saying you want someone to make you a knife, where you can you get pure iron! Jewellers buy their raw materials from bullion dealers (not mints) in the form (sheet, wire, granules for casting, etc etc) that they need to make the required item.

If you go to a jeweller and have a custom-designed, custom-made piece made, they will buy the necessary materials. In most countries they will also have the piece tested and halmarked when finished, which is your guarantee.

Again, there are exceptions to everything. Got a gold mine on your land? Of course you can get your gold melted, alloyed and made up. But then, if this were the case you'd know all that already! There may be sentimental reasons for melting and remaking coins, old pieces, gold nuggetts from your birthplace, etc etc, but this is not how most engagement/wedding rings get made.

Rings come in as many sizes as there are fingers. Do not try to buy a ring without having the finger that's going to wear it! A gold band wedding ring can always be enlarged a little, or have a piece cut out, but better to get it right in the first place. To resize a stone-set engagement ring (again, it can be done: some people might buy an antique, for instance) is much much more work.

Buying in India I don't know about diamonds, but buying gold from a reputable shop you will not be ripped off. Any Indian jeweller selling inferior gold would be lynched! It is far to importnt here. Look around for a shop selling hand-made stuff; the majority of Indian jewellery is machine-made and looks it.

Personally I would say that you have to shop for this with your lady: she's the one that's going to wear it!
#12 May 26th, 2005, 11:37
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Indian gold is too yellow for me, and, yes, you MUST know what you're doing whenever you buy gems, especially as a foreigner, or you will most definitely get ripped off.
#13 May 26th, 2005, 11:56
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Thanks Nick, Tracey, emjoi for your feedback. I think over the past few days ive realised that its more important that I go around with my lady (as nick mentioned!) and shop for this for after all she is the one who is going to wear it for the rest of her life so it has to be something that she likes and not what I "think" that she likes.

I understand that anything less than 22ct gold is considered inferior in India. Much like tracey mentioned my lady too doesnt like 22ct gold cos quite simple put "it is too yellow". You cannot find 22ct gold jewellery here in Australia, the best is 18ct...

Anyway, I think after hearing a lot of comments from people I have realised that its best not to do this by myself and involve her.......... so ill have to propose without the ring
#14 May 26th, 2005, 13:06
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if india manufactures 9 out of 10 diamonds that exist in the world, wont they be cheaper ? its a simple theory of returns to scale.
diamond jewlry is made in 18kt gold and it is cheaper here compared to anywhere in the world.the quality however,may not be the best,because it is mostly handcrafted,though diamond jewlry exporters in the last 3 yrs have been opting for machine made jewlry.smaller diamonds that are under 1 carat are cheaper in india.high quality stones that are over 1 ct. are more expensive here, because the local demand for these stones is huge.indians have believed in buying high quality stones in the over 1ct. category because of their investment value.however,lower quality stones( below J Color and SI and below Clarity) in over 1 ct category are competitively priced here as compared to the rest of the world.

gold jewlry which is in 22kt is cheaper in india as compared to the rest of the world.the tradition of gold jewlry goes way back, so the supply is huge in this country, hence they're cheaper.gold jewlry artisans are very skilled and their work may not be found anywhere else in the world.gold jewlry can be divided into diff categories with respect to the cultures of rajasthani, south indian, calcutta, and so on...
so u can surely travel to india and make ur purchase with respect to the above specifications.take care
#15 May 26th, 2005, 13:23
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Quote:
Originally Posted by Nick-H Gold jewellery sold in india (and in Indian jewellery shops abroad) is 22ct. Do not but 18ct for an Indian lady: she will consider it inferior! She will not want to show it off to her friends for fear they will think it looks cheap.

It is more yellow, or to be more accurate, more golden in colour.

Please consider this seriously, as you are not going to want to make any mistakes with this important gift!

Oh Nick, you know us Indian women so well.. 22ct is the best. Indians here are always saying that the American gold or 14ct stuff that people wear here, gets black and dark around the neck..and its always followed by a "chee chee" utttered with disdain.! Not many people wear 18 ct here for some reason, every time I go to a non Indian store, its all 14ct. The problem with buying 22ct in other countries and from non-Indian jewelleries is that the designs might not please the indian womens palate. But when you go to a Indian jewel abroad you get more designs which they like, the problem is mainly the variety is MUCH less than whats available in India.


Gold jewel shopping, is my weak point, my crutch and when I go to India I become a mad woman...looking for new sets, fixing old sets, replacing old rubies, buying new stones, diamonds etc etc..The one thing that is cheaper here in the States is Corals and we always bring corals as gifts for our friends in India. I heard Dubai is a wonderful place to buy gold! I want to make a trip over there for that one reason alone! Forget the maginificent Burq al Arab, take me to the souks please!!!
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