Is it cheaper to buy jewelry and diamonds outside the EU?

There is a common misconception that it is always cheaper to buy jewelry outside the EU, for example in Dubai. Unfortunately, this is almost never the case when you take into account the rules that actually apply.

As a private individual, you are only allowed to bring in goods worth up to EUR 430 duty- and tax-free when traveling from a country outside the EU. If the jewelry exceeds that value, you are legally required to declare it at the border and pay both customs duties and VAT.

If you fail to declare jewelry that is more expensive than that, it is considered smuggling according to the Customs Agency, which can lead to both fines and confiscation.

This means that in practice, it is almost always cheaper to buy jewelry directly within the EU — where you also receive full warranty, insurance, and secure transactions.