Wednesday, March 28, 2012

Diamonds in the Philippines

5 carat, color L, clarity VVS2
I never thought that selling diamonds was this freaking hard in the Philippines, especially when your ignorant with these precious things. Expect to be lowballed when your selling your diamond in a rush. The Rapaport Diamond Report* is the official price guide of diamonds like Beckett is to NBA Cards. But I don't know how the pawnshops, jewelers and the likes here in the Philippines based their multiplier when it comes to diamond grades. 

For example of you have a 5 carat, color L, clarity VVS2 round brilliant cut diamond, Rapaport has a high asking price of $15000 per carat for this grade, in pesos it is Php645,000 with a multiplier of Php43.00 per US dollar. Here in the Philippines they have a Php200,000 to Php380,000 per carat for this grade. I wish I know how they come up with this multipliers. It is pretty obvious that they want to haggled down the price for reselling purposes, well business is business. You're better off selling it to foreign end users as they are not into the busines but for personal use.

I can't find an official Gemology Institute of America Lab here in the Philippines, the nearest is in Bangkok. Maybe if we have the money it'll be worth the trip. A trusted jewelry appraiser in Metro Manila is Ocampo's Jewelry, they have a branch in Ali Mall and Glorietta 5, they have certified GIA graduates.    

Selling gold today is definitely easier than selling precious gems.

*Rapaport Diamond Report is available for a price in at diamonds.net

12 comments:

Jing Royalista said...

True. I've been to one shop this morning and was shocked of the appraised price for my diamond ring and necklace having shown them the certificates. So frustrating :(

Jing Royalista said...

True. I've been to one shop this morning and was shocked of the appraised price for my diamond ring and necklace having shown them the certificates. So frustrating :(

Reynald Prasas said...

Please try to find GIA @ Abrezza Mall Davao City.

Reynald Prasas said...

Please try to find GIA @ Abrezza Mall Davao City.

Reynald Prasas said...
This comment has been removed by the author.
Mark Anthony said...

Meron po ako raw diamonds. Will its a crystal clear like gems, may alam po ba kayu kung saan ko pwedi eto mapa test para sa grade niya.

kurtz said...

Yung calcite or quartz po ba nasa magkano po ang appraisal kc galing pang saudi arabia to nakuha ng father sa oil drilling.1981 pa ito nkatago at now lang nmin naisipan ipatingin.kya nyang humiwa ng bote n hindi man lang napupurol o nadudurog.

Khenny Boy Presbitero said...


Good day sir/maam, we are curious about a gems we found in a box,
That has a date 1897, and we found gold coins and this gemstone..

can you give us info where we appraise this gemstone
Email me: kheltboy@gmail.com

khent lofstrand said...

Mayron Po Ba talaga Sa Davao? GIA?

khent lofstrand said...

Mayron Po Ba talaga Sa Davao? GIA?

khent lofstrand said...

Mayron Po Ba talaga Sa Davao? GIA?

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