Why Buy Australian
Why should I buy a Wedding Ring made in Australia if I can get it cheaper from another country?
Excellent question, and one we get asked all the time!
At first glance, it might seem that you’ll be paying less, but are you really? When you delve a bit deeper and add on the ‘hidden’ costs that aren’t shown, you’ll be quite surprised at how that cheaper ring isn’t so cheap anymore…
Increase no. 1 – US$ vs AUD$
As the US market seems to have the biggest online presence, most online pricing of jewellery is advertised in US dollars, which is quite a jump from the Aussie dollar.
Increase no. 2 – 14ct vs 18ct
The metal caratage you see advertised on US websites are usually for a 14ct gold ring, the US standard. Australian standards are a bit different from the US – and when compared to the US 14ct gold, our equivalent is 18ct gold. To compare the pricing correctly, you’ll need to convert that 14ct gold price to an 18ct gold price.
Increase no. 3 – GST
The goods and services tax (GST) in Australia is levied on most goods shipped from other countries. How about adding on another 10% to that ‘not so cheap anymore’ price?
Increase no. 4 – Import duty
Then finally add on the import duty – around 5% – that’s usually charged on all luxury items.
Want to see the real price of that ring now?
Let’s break it down:
Beautiful and cheap ring spotted online = $1,500.00 US
Converted to AUD = US$1,500 / 0.70 cents = $2,142.85 AUNext up, comparing the metals. To convert the 14ct ring to an 18ct ring, we’ll need to add on between 13-15% because of the higher gold content. Let’s be conservative and only add 13%.AUD$2,142.85 x 13% = AUD$2,421.42
And now your precious ring arrives on Australian soil – add on the GST:
AUD$2,421.42 + GST (10%) = AUD$2,663.56
Oh and don’t forget the Import Duty:
AUD$2,663.56 + 5% = AUD$2,796.75
So there you have it…Your cheap US$1500 is now sitting at almost AUD$2,800.00.
Support? What support?
Now ask yourself, what if something goes wrong? What if the ring is too big or too small? What if they sent the wrong ring? What if the diamond falls out in a month?
Then you have to ship off your ring all the way back to the US, paying shipping costs and perhaps even import duty if you’re not careful.
Support your country and they support you
Wedding Ring King is proudly Australian owned and operated, with over 20 years in the jewellery industry.
If you experience issues, it’s easy to reach out – we’re right here to help!
Ready to support the Australian Jewellery Industry and receive the quality and service that you deserve? Browse our full range of bands and discover your favourite ring now!