Catered towards the T&Co fans, this blog post shows the rough price difference between locations throughout the world.
Based on my research, here are how the prices diff:
(Cheapest) US > Asia (Hong Kong) > Asia (Taiwan) > Canada (Expensive)
These are rough comparisons from gathering different prices on similar spec diamond rings and factoring in exchange rates, taxes, etc. With Canada having a high sales tax, it easily claimed the last spot and the most expensive place to purchase a Tiffany ring. Surprisingly, major cities (Hong Kong and Taipei (Taiwan)) in Asia were not much cheaper. The good thing is, there isn't any sales tax in Hong Kong, so that brings the price down a little. (Bringing the ring back to your native country is a different story... FYI, Canada is really tight on customs and taxation on good imported). With T&Co being an American company and brand, it's almost a no-brainer that it would be the cheapest in the US. They are on average, about 5-8% cheaper than the rest of the locations I have compared with. Finding a state with a low sales tax is a bonus =P
Tuesday, March 23, 2010
Wednesday, March 17, 2010
--Conflict Diamonds--
In continuation of my last post, I'm going to blog a little bit about Conflict Diamonds.
Conflict Diamonds, are illegitimate diamonds that come from areas where the mining process is not controlled. Furthermore, the revenue made by the sale of these diamonds are used to fund wars against the local government. This is exactly what was portrayed in the movie Blood Diamond. Illegitimate forces recruit and force men to mine and dig up these diamonds, and of course there is no paycheque. As you can see, many people who are aware of this topic avoid the purchase of these stones, which indirectly funds the warfare and the continuity of this practice. There are many, many people affected by this and poor innocent villagers who are forced away from their family to help the these illegitimate organizations mine the stones. Because there is absolutely no process, injuries and deaths are extremely common from the mining process.
All of these conflict diamonds are mined in different parts of Africa, with Angola, Sierre Leone, Liberia being the main countries. The Civil wars that constantly plagued these countries are heavily funded by these Conflict Diamonds.
UN and the diamond industry have stepped in to attempt to put a stop on the sales of Conflict Diamonds. The Kimberley Process, introduced in May 2000, is a huge step in controlling and eliminating the sales of Conflict Diamonds.
At the end of the day, it is up to the individual's conscience to decide if they will avoid the purchase of a diamond with unknown origins. Sometimes (although rarely), unknown origins does not automatically make the diamond a blood diamond. For the reason of it being illegitimate and exported from war zones, blood diamonds sell for a lower price than legitimate diamonds mined in controlled mines by legitimate organizations.
Conflict Diamonds, are illegitimate diamonds that come from areas where the mining process is not controlled. Furthermore, the revenue made by the sale of these diamonds are used to fund wars against the local government. This is exactly what was portrayed in the movie Blood Diamond. Illegitimate forces recruit and force men to mine and dig up these diamonds, and of course there is no paycheque. As you can see, many people who are aware of this topic avoid the purchase of these stones, which indirectly funds the warfare and the continuity of this practice. There are many, many people affected by this and poor innocent villagers who are forced away from their family to help the these illegitimate organizations mine the stones. Because there is absolutely no process, injuries and deaths are extremely common from the mining process.
All of these conflict diamonds are mined in different parts of Africa, with Angola, Sierre Leone, Liberia being the main countries. The Civil wars that constantly plagued these countries are heavily funded by these Conflict Diamonds.
UN and the diamond industry have stepped in to attempt to put a stop on the sales of Conflict Diamonds. The Kimberley Process, introduced in May 2000, is a huge step in controlling and eliminating the sales of Conflict Diamonds.
At the end of the day, it is up to the individual's conscience to decide if they will avoid the purchase of a diamond with unknown origins. Sometimes (although rarely), unknown origins does not automatically make the diamond a blood diamond. For the reason of it being illegitimate and exported from war zones, blood diamonds sell for a lower price than legitimate diamonds mined in controlled mines by legitimate organizations.
Monday, March 15, 2010
--Blood Diamond--
On a boring Sunday afternoon, I pulled out a DVD that I haven't watched, Blood Diamond. I heard it was a pretty good movie. Well it sure was. A 2hr+ movie, but well worth the watch.
Blood Diamond star Leo DiCaprio, Mr. Titanic, Jennifer Connelly, and Djimon Honsou. It's an entertaining film that will indirectly educate you about conflict and blood diamonds. I think the whole point of the film was exactly that and it definitely delivered. Although along with delivering that, the movie was action packed, and filled with love and family love side stories. It is dedicated to the battle towards the ban of conflict diamonds.
My thoughts after this movie on conflict diamonds definitely changed. Without knowing what is really happening and seeing it (through the movie), it is really hard to relate to buying certain diamonds with unknown origins which makes them likely conflict diamonds.
I would really recommend this movie for any of you guys looking to buy a diamond from wholesalers that do not guarantee their stones origins, or those ladies who demand a huge rock from their significant others, which might force them to have to buy conflict diamonds to fulfill your wish.
Honestly, sometimes I think this whole diamond ring thing is...... I don't know how to express it in words. A lot of people know why diamonds cost so much; controlled supply leads to high demand. A diamond could be sold for much, MUCH less than what they are sold today, but with the supply so closely monitored and controlled, coupled with the constant advertisement and brainwashing commercials and social pressure to have a nice big rock on a girls hand, the price of diamonds sits at where it is today. Paying $10,000+ for a tiny rock no more than the size of a marble. Imagine no such thing as a diamond engagement ring existed? That money could be put into a bigger house, a nicer wedding, a car, savings for the future...... But regardless, this is how society is today and it's hard to defy the "norm". Even if one can understand that, it'll take a lot to convince the other half and even then, as a couple, you have to be willing to accept all the "consequences" (I don't want to use that word as it is too negative in this context, but it's the most suitable word I can think of) that family, friends and society will place on you...
Blood Diamond star Leo DiCaprio, Mr. Titanic, Jennifer Connelly, and Djimon Honsou. It's an entertaining film that will indirectly educate you about conflict and blood diamonds. I think the whole point of the film was exactly that and it definitely delivered. Although along with delivering that, the movie was action packed, and filled with love and family love side stories. It is dedicated to the battle towards the ban of conflict diamonds.
My thoughts after this movie on conflict diamonds definitely changed. Without knowing what is really happening and seeing it (through the movie), it is really hard to relate to buying certain diamonds with unknown origins which makes them likely conflict diamonds.
I would really recommend this movie for any of you guys looking to buy a diamond from wholesalers that do not guarantee their stones origins, or those ladies who demand a huge rock from their significant others, which might force them to have to buy conflict diamonds to fulfill your wish.
Honestly, sometimes I think this whole diamond ring thing is...... I don't know how to express it in words. A lot of people know why diamonds cost so much; controlled supply leads to high demand. A diamond could be sold for much, MUCH less than what they are sold today, but with the supply so closely monitored and controlled, coupled with the constant advertisement and brainwashing commercials and social pressure to have a nice big rock on a girls hand, the price of diamonds sits at where it is today. Paying $10,000+ for a tiny rock no more than the size of a marble. Imagine no such thing as a diamond engagement ring existed? That money could be put into a bigger house, a nicer wedding, a car, savings for the future...... But regardless, this is how society is today and it's hard to defy the "norm". Even if one can understand that, it'll take a lot to convince the other half and even then, as a couple, you have to be willing to accept all the "consequences" (I don't want to use that word as it is too negative in this context, but it's the most suitable word I can think of) that family, friends and society will place on you...
Tuesday, March 2, 2010
--Tiffany Price Increase...--
I just got word that Tiffany US has raised their prices 8%...
This pretty much removes the idea of possible cross border ring shopping. With the recent CAD-USD conversion rate and the lower sales tax in the US, it made sense to make the drive across.
I was able to get the prices in both CAD and USD from Tiffany and in general, the Canadian stores have a markup of about 15-20%. Factor in US sales taxes, roughly 6-8%, the conversation rate, roughly 5-7%, you're still looking at saving quite a bit. The only question remains how you can bring it across the border. I do not endorse not declaring the ring, but that is where you'll see the most savings. Factoring in Ontario taxes of 13%, you're looking at saving about $500-700 at the end of the day.
I have heard success as well as horrid stories of cross border shopping. It's up to the individual of making that decision and how it may be the carried out. Please know the consequences before making your final decision.
This pretty much removes the idea of possible cross border ring shopping. With the recent CAD-USD conversion rate and the lower sales tax in the US, it made sense to make the drive across.
I was able to get the prices in both CAD and USD from Tiffany and in general, the Canadian stores have a markup of about 15-20%. Factor in US sales taxes, roughly 6-8%, the conversation rate, roughly 5-7%, you're still looking at saving quite a bit. The only question remains how you can bring it across the border. I do not endorse not declaring the ring, but that is where you'll see the most savings. Factoring in Ontario taxes of 13%, you're looking at saving about $500-700 at the end of the day.
I have heard success as well as horrid stories of cross border shopping. It's up to the individual of making that decision and how it may be the carried out. Please know the consequences before making your final decision.
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