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Buying Diamonds in China

Buying diamonds in China or Hongkong there are three things you need to know or perhaps consider before hitting the stores like a storm. As we all know, major global jewelers may remain bullish about their prospects in the mainland China market.


Here's the three you must know:

Extreme Superstitious Belief of Fengshui

The Chinese (especially those in Hong Kong) commonly believe in feng shui and strange beliefs. For example, figure 8, enunciated as "faat" in Cantonese, is an optimistic number believed to bring fortune.

Needless to say, buying diamonds in China with a carat weight of 0.88 or even laser notations bearing digits of 8 would be an excellent selling point for marketing.

On the other hand, the number four (4) is deemed an inauspicious number. It sounds like and symbolizes death in both Cantonese and Mandarin. Thus, you rarely see buying diamonds in China in sizes of 0.44ct or 1.44ct for apparent reasons.

Cultural Stereotyping

Next to highly superstitious belief, one of the key things to note about buying diamonds in China's market especially wedding rings or just simple rings is the misunderstood stereotyping of high color/clarity diamonds as being more "beautiful."

In the Asian market, the preferred choice of color lies with the colorless range of D-F. Similarly, diamonds with higher clarity grades above VS1 are perceived as better and of higher quality. Therefore, buying diamonds in China, especially rings, the number of available selections will be restricted and highly expensive because of the higher color/clarity ratings.

Diamond's Prices in the Chinese Market

Commonly, people have a misguided belief that buying diamonds in China is cheaper. Regarding pricing, Hong Kong exclusively exists if you intend to get rings from branded stores like Cartier or Tiffany compared to the US; thus, the prices are lower.

The non-branded diamond rings problem was due to high rentals and overheads. The pricing of private jewelers and local chain stores such as Chou Sang Sang or Chou Tai Fook is exceptionally high compared to chain stores in other parts of the world.

In fact, the non-branded diamond rings are almost as expensive as big international brands.

Therefore, paying a premium price for an unrecognizable local brand doesn't make sense. When you could top up a little more to buy an established brand like Tiffany & Co at a lower price.

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