We now have seemingly endless options to choose from when we buy an engagement ring, and you’re sure to have seen many adverts when scrolling the internet from Australian and overseas companies. Does it matter what country you buy from? We’ll go through some pros and cons now to help you make up your mind.
What to Expect from an Australian Jeweller
One important benefit to choosing to buy from an Australian retailer is that you’ll be supporting local jobs. This will support the Australian economy, and your money stays within your community to pay taxes and grow businesses, ensuring job creation and stability. Local businesses offer a unique customer experience compared to big brands and help give your area character. Local businesses usually provide exceptional customer service, so your ring buying process will be relaxed and happy, which is exactly what you want. An Australian jeweller will be easier to get hold of with queries through the buying process, as you’ll be in the same time zone. If you need to make any changes, such as resizing your ring, an Australian company will be able to do this easily, whereas with an overseas retailer, this may not be offered, or you’ll need to ship it back and then potentially face import fees again.
If your chosen jeweller has a physical store, you’ll be able to pick up your ring there. If not, you’ll only have to rely on local shipping, so your ring is sure to arrive in plenty of time before you ask the big question. Australian jewellers will offer easy returns, whereas overseas retailers often offer shorter return periods, and again, this will involve shipping back to them and risking fees for a second time.
Understanding Fees When Buying Overseas
Speaking of fees, prices on overseas rings may be cheaper, but it’s important to consider all the relevant fees once you’ve checked out. Your bank probably charges a 4% fee on any international payments, which will add to the cost, so make sure you’ve considered this. You’ll also pay various fees to receive a parcel from overseas, which are usually not listed on the seller’s website.
Firstly, there’s an import duty of 5%. For example, on a $5,000 purchase, this is $250. Your GST is then calculated on the total price, including this duty, so it would be $525 on that $5,000 item once the duty is included. On top of this is a set customs fee too, which would be $83 on a $5,000 purchase at the time of writing. That overseas purchase has now added up to $5,858, whereas it would only be $5,500 from an Australian retailer. It’s easy to see then how these extra fees quickly add up and mean you may not be saving money like you thought you were.
The recent American tariff situation shows that when importing and exporting, fees can change unexpectedly. If your purchase is under $1,000, it may not be liable for the extra import fees. You should also ensure that you trust the overseas retailer, as there’s a risk that your items could be counterfeit or advertised with misleading images. There’s a risk of that with any retailer, of course, but when buying overseas, it’s harder to return or exchange incorrect items, so it’s easier for bad companies to sell faulty products to other countries. You’ll also need to trust their shipping provider, as your package will take longer to arrive, and you obviously need it before the proposal you’ve planned.
It’s not all bad, though, when buying overseas. Certain countries have lower diamond prices, so you may be able to get a larger diamond for your budget. There are also potentially unique designs overseas, giving you a chance to own a ring that’s unusual in Australia. If you have a certain country that’s tied to your love story, such as the first place you took a holiday together, then buying your ring from there adds a sentimental touch to your engagement.
Whichever route you choose for your special ring, watch out for companies that claim to be Australian but actually ship from overseas. Some companies have Australian flags, currency, and telephone numbers to try and fool customers. It’s best to reach out to the company and check if you’re unsure if they’re Australian. We mentioned above that banks generally charge fees for overseas purchases, so if you notice this fee unexpectedly, then query with your bank, as you may be able to reverse the payment and choose a company that’s honest about where they operate.
At Vinny & Charles, we’re an Australian company that prides itself on great customer service, high-quality designs, and sustainability procedures. Browse our unique range here, and skip the import fees by buying Australian.
