Loose Diamonds
Many clients wish only to buy loose diamonds – this is perfectly legal in South Africa, and other parts of the world. If the diamond is cut and polished there is no issue with buying loose diamonds – the problem comes in when a customer either wants to sell an uncut diamond, or wants to buy an uncut diamond. This is against the law in South Africa.
Uncut diamond
When you buy a loose diamond, or a diamond that is not set into a diamond ring, you should insist on a certificate for the stone. The diamond certificate will describe the diamond, flaws, carat size and color – the diamond certificate will help with insurance, and will be useful when handing it over to a jeweller to have diamond ring made. When you do ask a diamond jeweller to make a diamond engagement ring with your loose diamond, make sure your loose diamond is insured – most hand made jewellers do not accept responsibility for the insurance on your diamond.
Overseas it is possible to buy uncut diamonds and sell uncut diamonds. The laws around diamonds are far less strict. When you buy loose diamonds they must have a diamond certificate and you should insure diamonds and the diamond ring when it is finished. A diamond certificate will also ensure that you have not purchased a conflict diamond. You will need to declare the diamond when you pass through customs – sometimes when you buy a loose diamond in South Africa you can ask the diamond dealer, or diamond wholesaler to have what is known as a “take away” made. This is a simple, inexpensive setting for the diamond, usually made of silver, that the diamond is mounted into. The diamond can now be worn on the finger. A handmade jeweller will make up this diamond ring.