Help,

I would like to import diamond jewelry from India and sell it here to retailers. How do I go about it?

Questions:

1. How do I find the retailers that would be willing to buy the stuff?
2. What are the import duty rates? I tried looking for diamond jewelry on the CRA and the CBSA websites and from what I could understand it says "free". Obviously I am missing something. What is it?
3. What should be the expected profit margin on such jewelry?
4. Which is better and why:
a. To take orders from retailers and make and supply product as per requirement
or
b. Import readymade jewelry and find a market for it.

Any other information you think is necessary. Thanks in advance.

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Diogenes
====================
The Cynic

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Orginally posted by DiogenestheCynic

Help,

I would like to import diamond jewelry from India and sell it here to retailers. How do I go about it?

Questions:

1. How do I find the retailers that would be willing to buy the stuff?
2. What are the import duty rates? I tried looking for diamond jewelry on the CRA and the CBSA websites and from what I could understand it says "free". Obviously I am missing something. What is it?
3. What should be the expected profit margin on such jewelry?
4. Which is better and why:
a. To take orders from retailers and make and supply product as per requirement
or
b. Import readymade jewelry and find a market for it.

Any other information you think is necessary. Thanks in advance.

---

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Try overtaking child's imagination

importing is a tricky business. however, i have heard from various sources that if the stones are UNCUT, there are NO IMPORT DUTIES and no questions asked at customs.

i find this hard to believe since there is worldwide attention to 'blood diamonds' (diamonds from areas in conflict, esp. in Africa).

however, i have heard from many sources that uncut diamonds are not controlled or regulated by customs.

obviously, you would be wise to check this on your own.

I can help you in semi-precisious jwellery from india. pl. pm me if you are intrested.

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Driller the thriller

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Orginally posted by Chris
importing is a tricky business.

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Orginally posted by jago_desi
Actually he is doing business with retailers too but earning is more thru contact business. He quotes that if people of 3 -4 business house buy jewelry from him, it gives him profit of complete 1 year.

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Orginally posted by desi_driller
I can help you in semi-precisious jwellery from india. pl. pm me if you are intrested.

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Diogenes
====================
The Cynic

Hello there,

First, if this is going to be a business, you need a Import/export account with Revenue Canada. That way you can collect GST on your sales and claim GST from your imports. This is voluntary if your revenue is going to be < $30,000.

Second, Border Services of Canada have a comprehensive website that has all kinds of documents on duties , levies and restrictions -

http://www.cbsa-asfc.gc.ca/menu-e.html

Here is the whole document on tariffs - (1200 pages!!!)

http://www.cbsa-asfc.gc.ca/general/publications/tariff2005/01-99r4-e.pdf

OR YOU COULD JUST CALL THE HELPFUL AND FRIENDLY STAFF @ (800)469-9999. Get all the answers you need regarding importation from your local customs agent.

B V

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Orginally posted by DiogenestheCynic

Quote:

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Orginally posted by jago_desi
Actually he is doing business with retailers too but earning is more thru contact business. He quotes that if people of 3 -4 business house buy jewelry from him, it gives him profit of complete 1 year.

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Try overtaking child's imagination