Our Story

In 2002, a gold broker and a watchmaker founded Diamond Exchange with the mission to provide our valued customers the best quality diamonds in the world, at fair prices that were affordable for the average consumer.

Their idea was to sell online, as there are much lower overhead, inventory and security costs than a "brick and mortar" store, savings they would pass on to their customers.

The online inventory linked directly to the largest and most respected cutters and polishers in the world (the exact same cutters and polishers that supply ultra-high end retail stores like Harry Winston and Tiffany & Co.), so customers have direct access to the largest supply of the highest quality diamonds.

However, they could not find anyone to build a Diamond and Engagement Ring eCommerce website for them...  You see, Google had been founded just 4 years earlier, eCommerce was still relatively new and good webmasters were hard to find. Plus, the idea of selling a valuable commodity (like Diamonds) online was beyond the comprehension of most web marketers. So they built their first website themselves.

With their efficient, online business model, jewelry stores simply could not compete with Diamond Exchange Canada's prices and selection, and in a relatively short space of time, Diamond Exchange Canada went from that self-made website to one of the most trusted online Diamond, Engagement Ring and Jewelry retailers in Canada.

Our innovative approach and disruption to the Canadian Diamond, Engagement Ring and Jewelry industry forced many Canadian retailers to go online to compete with DiamondExchange.ca, and in recent years, especially due to the 2019 coronavirus disease (COVID-19) pandemic, the online Diamond, Engagement Rings and Jewelry space has grown exponentially.

Diamond, Engagement Ring and Jewelry consumers, who just a few years ago would never have considered buying online, are now enjoying the widest selection and best diamond prices in the world.

We like to think Diamond Exchange Canada had a small part in this Diamond and Engagement Ring Digital Revolution, and now; it's never been SMARTER, MORE CONVENIENT, SAFER and MORE AFFORDABLE to buy a diamond online.


SMARTER: With the technology available today, like detailed Diamond Grading Reports from GIA (the largest, most respected, and strictest gem-lab in the world), magnified pictures, and magnified 360° HD videos, etc., and our experienced Diamond Experts (not “salesmen”) at your disposal to provide education, advice, and an expert set of eyes, it is possible to make an informed and confident decision about which Diamond is perfect for you, prior to purchasing it, and without having to view it first.

Plus; You’re not viewing diamonds like you would at a jewelry store, where deceptive and intense lighting covers up low quality cut and color (ever notice how even cubic zirconia look good at a jewelry store?). In fact, the most common feedback we receive, in every case where magnified pictures and 360° HD videos have been provided, our customers have said their Diamond EXCEEDED their expectations, without having viewed it in person prior to purchasing. This is due to the fact that magnified pictures and 360° HD videos give you a much more honest and detailed view of a diamond than you could possibly see with an untrained, naked eye.

MORE CONVENIENT: Shopping at Diamond Exchange is better than a retail store for many reasons. We save you time and effort, there's no need for travel and parking, minimizing transportation costs, as well as the associated hassles and time commitments. Plus, you can easily search for the items that you want, while avoiding the frustration of crowded stores.

SAFER: The vast majority of our Diamonds are laser inscribed with their report number on the girdle, which is your assurance that the Diamond you receive, is the same one you purchased. Diamonds ordered from our online inventory can be picked up from our offices within 7 – 10 business days of the date you place your order and make payment, and when your Diamond arrives for you to pick up from our offices, our experienced Diamond Experts will be available to show you the laser inscription, as well as any other defining characteristics (like the nature and location of inclusions) that can be used to identify your diamond.

MORE AFFORDABLE: When purchasing from our on-line inventory, you will be paying far less than if you were to purchase the exact same Diamond at a "brick-and-mortar" store, as we don't have the overhead costs of traditional diamond and jewelry retailers, and we pass those savings on to our customers. Commonly, "brick-and-mortar" retail stores have a practice of marking up diamonds more than 100 percent of the wholesale price, known as keystone pricing, whereas Diamond Exchange has rock-bottom mark-ups.


Diamond Exchange Canada is still a family owned business, as it was when it was founded, with a heavy focus on Diamond education, quality assurance, and friendly customer service from DIAMOND EXPERTS (not “salesmen”).

The Diamond & Jewelry Experts at Diamond Exchange provide relationship-oriented, personalized experiences and expertise, empowering our customers with knowledge about the Diamond industry and delivering ultra high-end jewelry craftsmanship.

The most important thing for us is the integrity of the product. We do not sell low quality, K–Z color or SI3–I3 clarity stones, nor do we purchase rings in bulk or off a production line for easy assembly or to increase margins.

Yes, our prices are still much cheaper than a jewelry store, but when our customers are buying items prized for their luxury and value, our dedication to craftsmanship and authenticity is a positive thing for our customers and our business, because we both know there has been no compromise.

Michael Baumbach is a founder of Diamond Exchange Toronto Inc. with 40+ years experience in the global Diamond and gold industry, predominately in rough and polished Diamond trading and sales. Michael’s background includes all aspects of the gold and Diamond trade from mine to retail, both on the ground and at the executive level.

With extensive experience in the areas of rough Diamond mining and exploration, Michael has been involved in numerous projects throughout Africa and from 1980 to 1985 was involved in the alluvial mining of gold in Ghana, Africa. He has also been involved in the alluvial mining of rough Diamonds in Sierra Leone since 2005 and has extensive knowledge of mining operations in the Democratic Republic of Congo and Guinea.

Not wanting to retire from the industry he loves, Michael is still active in all aspects of Diamond Exchange Canada and is pleased to assist our customers by sharing his extensive rough and polished Diamond knowledge with our customers. Michael also continues to provide marketing experience and local knowledge of mining in West Africa as a professional consultant.

Shaun Baumbach, his son, is currently the president of Diamond Exchange Toronto Inc. Most of Shaun’s working life has been spent in the diamond industry and his passion is educating, informing and servicing Diamond and Engagement Ring consumers.

Shaun started working in customer service for Diamond Exchange Toronto Inc. in 2004, before moving to management and executive roles within the company, including sales, marketing, merchandising and product development.

Shaun LOVES Diamonds. They’ve been a part of his life since he was 5 years old and he simply loves what he does. However, he understands buying Diamonds and Engagement Rings can be scary and confusing to new customers. Also many consumers have skepticism and mistrust for the industry due to the secretive nature of the trade and the fact that many of our competitors mislead their customers with deceptive practices and misinformation.

To overcome this, Shaun enthusiastically preserves and promotes transparency and honesty within Diamond Exchange Canada, which includes being sincere and straightforward about the Diamonds and Engagement Rings we sell.

Into the future, Diamond Exchange will continue to innovate and empower our customers with honest information and education, to help them navigate the important decisions consumers face when choosing Diamonds and Engagement Rings, and we’ll always ensure our customers are secure, confident and happy with their Diamond Exchange Diamonds, Engagement Rings and Jewelry.