Heads Up! Diamond Prices are about to SKYROCKET

#16
This is why I am anti diamonds, honestly. They are not rare, nor are they valuable but their supply is tightly controlled by a cartel and their price inflated artificially. (As opposed to gold and platinum, which are scarce in nature and therefore genuinely precious.)


If OP is correct, my response would not be to rush out and buy diamonds at their already offensive price - it would be to ignore the hype as before.
 
#17
Katy Sarah said:
This is why I am anti diamonds, honestly. They are not rare, nor are they valuable but their supply is tightly controlled by a cartel and their price inflated artificially. (As opposed to gold and platinum, which are scarce in nature and therefore genuinely precious.)


If OP is correct, my response would not be to rush out and buy diamonds at their already offensive price - it would be to ignore the hype as before.
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Oh my gosh, this is so me. I have a love-hate relationship with diamonds. Do I think they are pretty? Yes. But I think the whole diamond industry is such BUNK! It really irks me that prices are just stupid ridiculous now, and for no good reason. Diamonds are not scarce and they are not rare.
 
#18
materialgurl said:
Has it already started? I went to Tiffany to see what I can get for $40,000 and the SA pulled up a 1.5 carat, G color, VS2 for $40500 OR a 1.51 carat, H color, VVS1 for $38500

Seems a bit ridiculous to me?? Or is that normal? She says 2 carat starts at $75000

This is CDN$
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That's Tiffany's. Tiffany's is substantially higher than a regular jewelry store for the same quality. Typically you can get a better stone elsewhere for quite cheaper.
 
#19
lilmountaingirl said:
I actually had a suspicion last month that this was coming. Because I have been looking for a trade for a girlfriend and at the same time browsing stones like mine, and I noticed a pretty decent price jump already with that vendor. I had no idea it would be 20% though. Do you know why there will be a hike? Good for current value of my stone I guess but I was trying to get the hubby a nice stone too. Lol but he can't commit.
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Short and glossed over answer: Not enough high quality rough in the most popular sizes and spec marks, plus demand in other markets outside of the US in those sizes and spec marks is going up significantly. Typically, for example, there's a "stereotype" on Asian markets for demand in the DEF FL-VVS ranges and those are relaxing and spreading into the GHIJ VS ranges now too, meaning as those folks get more educated on cut, etc., they're relaxing their demand for "perfection" in the color and clarity specs and wanting size and cut quality more than just the color and clarity. That means that mines aren't producing as quickly for those specs and there's a "shortage" (I use that word loosely!) of rough to make up for that demand.

Sizes will go up across the board, but the percentage on melee might not be so high on those sizes. Maybe 8% or so. This year is going to be ugly for diamond prices. 2010 was pretty hairy as well, but it wasn't so bad within the last few years.

Ferdi_the_yak said:
Thanks for the heads up Ame. Luckily I bought my diamond studs last week. Any work from BGD on yours yet? Mine are still "mounting"... I've been checking obsessively every day!
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Still mounting. They can take as long as they need for that! I told them not to screw up any proposals because of this. But they also know me and our history, so I think they're doing their best work of all time ;)
 
#20
ame said:
Still mounting. They can take as long as they need for that! I told them not to screw up any proposals because of this. But they also know me and our history, so I think they're doing their best work of all time ;)
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Thanks for the info! Question: what stats do you think are going to be affected the most? I never understand what the so called sweet spot is. What are the sweet spots for size, color, clarity? If it's industry secret, you don't have to tell us! :smile:

Congrats on new studs! What are you getting? Very exciting! I want new studs too. Lol. Every time I sneak it into a statement, my hubby gets annoyed. Poor hubby.
 
#21
Well isn't that just perfect. My 10th anniversary is on March 6th and this kind of jump will make our already tight budget pretty much pointless. I can't justify buying high when in all likelihood the bottom will drop out in a few months to a couple of years.
 
#22
lilmountaingirl said:
Thanks for the info! Question: what stats do you think are going to be affected the most? I never understand what the so called sweet spot is. What are the sweet spots for size, color, clarity? If it's industry secret, you don't have to tell us! :smile:

Congrats on new studs! What are you getting? Very exciting! I want new studs too. Lol. Every time I sneak it into a statement, my hubby gets annoyed. Poor hubby.
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I bought a pair of little bitty bezel studs, .30ctw. I sent back the Kwiats bec I never wore them, in part bec they didn't play nice with my work phone (prongs) and I didn't want my hair gunk making them cruddy. That latter part may still pose an issue, but I went bezel to avoid the phone issues. I really hope I leave these in more.

From what I read and what I understand from speaking to buyers/cutters, .9-2ct has become the hardest hit sizes, and right now GHI VS are the hardest hit on pricing. It's because those became the most popular in the US, to start, and that popularity has started to spread, and there simply isn't enough gem-quality rough "in the wild" that is being cut into ideals for sale. I know Paul from Crafted by Infinity (a super ideal brand that cuts STUNNERS, he's an owner/cutter) was posting on PS (I am failing to find this thread, but it was recent) about this the other day and mentioned that he did a search of cut goods in the H VS2 range that were of ideal standards and there was like...a teeny supply of those available. Like I think in the amount MAYBE of 20-30. That's...scary small. WORLD WIDE.

I recall maybe 2 years ago I was speaking to a few dealers and cutters about the market correction in 2010 and they were talking about that only being the beginning, since worldwide demand is getting incredible. Mines have to keep up, the so-called "cartels" have to keep up. It's changing landscape with this, wealth is springing up in other parts of the world and, with that, so is buying of such goods.

vintagefinds said:
Well isn't that just perfect. My 10th anniversary is on March 6th and this kind of jump will make our already tight budget pretty much pointless. I can't justify buying high when in all likelihood the bottom will drop out in a few months to a couple of years.
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It sucks, I agree. I am in the process with a few family members and close friends. I NARROWLY missed the jump in 2010 myself, when I was replacing my stolen wedding set. But they're not going to go back down, they'll just level off for a while, and then there will eventually be another increase. Demand has increase globally, it's not just the US consuming supply anymore.
 
#23
ame said:
Still mounting. They can take as long as they need for that! I told them not to screw up any proposals because of this. But they also know me and our history, so I think they're doing their best work of all time ;)
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Awww... you're so nice! I wouldn't be surprised if they take a bit longer than usual because of V-Day demand.

ame said:
From what I read and what I understand from speaking to buyers/cutters, .9-2ct has become the hardest hit sizes, and right now GHI VS are the hardest hit on pricing. It's because those became the most popular in the US, to start, and that popularity has started to spread, and there simply isn't enough gem-quality rough "in the wild" that is being cut into ideals for sale. I know Paul from Crafted by Infinity (a super ideal brand that cuts STUNNERS, he's an owner/cutter) was posting on PS (I am failing to find this thread, but it was recent) about this the other day and mentioned that he did a search of cut goods in the H VS2 range that were of ideal standards and there was like...a teeny supply of those available. Like I think in the amount MAYBE of 20-30. That's...scary small. WORLD WIDE.
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x we don't allow linking to other forums
 
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#24
YES! thank you! I kept trying to search under Paul's post but it was originally Wink apparently. I know Paul said something about that as well.

But for the uninitiated: diamonds are NOT an investment.
 
#28
Do it now! The pricing will start rising over the next couple weeks, if it hasn't started already. So if you have a set of stones picked out, go with it.
 
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