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Sberbank starts selling diamonds for investment and jewelry

"If after purchase the diamond is not left in safe custody with the manufacturer, upon resale it will require a re-examination," the press service noted

MOSCOW, October 4. /TASS/. Sberbank began selling diamonds for investment purposes or making jewelry, the bank’s press service reported.

"Sber customers can now buy diamonds from the bank. The first customers have already purchased several precious stones to make jewelry for personal use. Diamonds can also become a good investment, following the example of savings in gold," the bank said.

The bank explained that pricing in investment gems is more complex.

"If with gold one can take into account only weight, in case of diamonds weight, shape, color and quality matter. Each stone is unique. If after purchase the diamond is not left in safe custody with the manufacturer, upon resale it will require a re-examination," Sberbank noted.

Director of the Borrow and Save division of Sberbank Sergey Shirokov recalled that a bill on the permanent abolition of VAT for the purchase of diamonds by individuals from banks was recently submitted to the State Duma. According to him, this will increase consumer interest in this product.

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