Prices going up, again!

I was just about to post too! Just spoke to BGD, they told me that the prices are going up 7-15% depending on the size after today.

This makes me really sad.

Goodness!

Wink, how will this affect business for vendors like yourself? Have you noticed that consumers are buying differently?

Written by Dreamer_D » June 17th, 2011, 4:01 pm:Goodness!

Wink, how will this affect business for vendors like yourself? Have you noticed that consumers are buying differently?

I'm curious to get your take on this, too.

I just told FI that we needed to upgrade my diamond today. He said okay, better find one quick. He said it tongue-in-cheek, but I kind of want to take it as his blessing to go ahead.

Written by lorimiow » June 17th, 2011, 3:53 pm:I was just about to post too! Just spoke to BGD, they told me that the prices are going up 7-15% depending on the size after today.

Damn it. I asked them yesterday to check on three SI1s. I still haven't heard back. Was going to to buy on Monday. Had I known I would have made time today to go ahead and do it without any feedback on the main one I was looking at.

WOW, I am sure glad I did my upgrade last year. Doesn't look like I will get to do another one any time soon the way stone prices are going at the moment. Guess I will just have to live through my fellow PS friends.

Written by wreckem:

Written by lorimiow » June 17th, 2011, 3:53 pm:I was just about to post too! Just spoke to BGD, they told me that the prices are going up 7-15% depending on the size after today.

Damn it. I asked them yesterday to check on three SI1s. I still haven't heard back. Was going to to buy on Monday. Had I known I would have made time today to go ahead and do it without any feedback on the main one I was looking at.

Wreckem: I was just talking to them about my reserved stone and Brian was very nice to honor today's price for me until Monday. Maybe you can give them a call now too?

Written by lorimiow » June 17th, 2011, 4:25 pm:

Written by wreckem:

Written by lorimiow » June 17th, 2011, 3:53 pm:I was just about to post too! Just spoke to BGD, they told me that the prices are going up 7-15% depending on the size after today.

Damn it. I asked them yesterday to check on three SI1s. I still haven't heard back. Was going to to buy on Monday. Had I known I would have made time today to go ahead and do it without any feedback on the main one I was looking at.

Wreckem: I was just talking to them about my reserved stone and Brian was very nice to honor today's price for me until Monday. Maybe you can give them a call now too?

Oh and for my 0.6ct signature stone, Brian said it's going up 10%!! So I'm very glad to be pulling the trigger today.

Written by Dreamer_D » June 17th, 2011, 4:01 pm:Goodness!

Wink, how will this affect business for vendors like yourself? Have you noticed that consumers are buying differently?

Yes, several ordered stones in to look at today to beat the price increase. Paul has told me that he will honor today's prices for one week for stones under consideration but otherwise prices will be going up on Monday.

I have noticed that the dollar size of my average sale is increasing as prices go up, so it seems that most are willing to pay more to get what they want. I think that new clients who find us on Pricescope are often here only until they find their perfect diamond and then they are gone, so I do not think they are as affected by diamond price increases as our regulars here are.

I have also had an increase in requests for smaller diamonds under one carat, but Paul is cutting very few of these today as most of our clientele are wanting stones of 1ct and above. I suspect my lack of sales of the smaller stones is more a factor of Infinity Diamonds in those sizes rather than a lack of demand. I would be interested to hear what some of the other vendors are doing with the under one carat goods in the AGS0 cut grades.

Personally, I had expected a much larger drop in sales because of prices than I have experienced, although I would much rather have had prices remain where they were!

Wink

Written by lorimiow » June 17th, 2011, 4:26 pm:

Written by lorimiow » June 17th, 2011, 4:25 pm:

Written by wreckem:

Written by lorimiow » June 17th, 2011, 3:53 pm:I was just about to post too! Just spoke to BGD, they told me that the prices are going up 7-15% depending on the size after today.

Damn it. I asked them yesterday to check on three SI1s. I still haven't heard back. Was going to to buy on Monday. Had I known I would have made time today to go ahead and do it without any feedback on the main one I was looking at.

Wreckem: I was just talking to them about my reserved stone and Brian was very nice to honor today's price for me until Monday. Maybe you can give them a call now too?

Oh and for my 0.6ct signature stone, Brian said it's going up 10%!! So I'm very glad to be pulling the trigger today.

.604 D I guess?

Hopefully they will give me the current price. They closed at 5 so Ill just talk to them on Sunday.

Boo to price increases!!!

Boo, hiss, boo....looks like more colored stones in my future.

Wow .. I just checked a compareable August Vintage to what I purchased less than 2 years ago. It went up almost $10K. I am so glad I bought it then.

Written by CharmyPoo » June 17th, 2011, 8:51 pm:Wow .. I just checked a compareable August Vintage to what I purchased less than 2 years ago. It went up almost $10K. I am so glad I bought it then.

When I was purchasing my e-ring stone in February of this year, I was considering this AVR stone: http://www.goodoldgold.com/diamond/7818/

It was roughly $13,300 less than 4 months ago. Now it's listed at $18,425 !!! It seems like the price increase on the AV line was greater than the H&A or any other cut because the other GOG H&A I considered didn't show as large an increase.

Can't even get on BGD website anymore right now (Sat night) I think they probably update the price now

Written by luckky:Can't even get on BGD website anymore right now (Sat night) I think they probably update the price now

Yeah. I can't access the site either. Luckily I pulled the trigger yesterday. Phew...

Yikes! I'm not really in the market but I want prices to stay the same just in case.

I'm sure this has been answered before, but what are the main factors that determine price increases? Particularly large ones like this?

Wow, quite a jump in prices. I am so glad I got my upgrade in April.

Buy em off Ebay and get them recut. Still plenty of bargains there. I am glad I bought the ones I did in the '08-'09 period.

Another update on my pet stalking project -

March 9, 2010 - $16600 wire
Feb 11 2011 - $22200 wire
Apr 6 2011 - $23800 wire
May 27 2011 - $25300 wire
June 17, 2011 - 26478 wire

Wow, Yssie that is quite a price jump. What are you "stalking"?

Written by marcy » June 18th, 2011, 8:54 pm:Wow, Yssie that is quite a price jump. What are you "stalking"?

Haha nothing I'm buying! It was an RB I had shipped out last year out of curiosity - 3ct HRD I SI2, actually rather an ugly stone. Impressive price jump, no?

LOL Yssie. For that kind of money it shouldn't be ugly and that price jump is something.

Written by marcy » June 19th, 2011, 8:58 am:LOL Yssie. For that kind of money it shouldn't be ugly and that price jump is something.

Seriously- just about a 10,000 increase in price in 15 months!

with the increases going on, does it also affect the baby d's? Like the melee? I wonder?
Really sux.
So happy I bought in May. I've actually made a profit! And diamonds are known to not really be an 'investment'. Crazy stuff!

I was just going to create a topic on this. Out of curiosity, I checked to see what it would cost if I needed to replace my ring (heaven forbid) tomorrow, and boy was I !!!

My FH bought the diamond in April less than 3 months ago. The prices for a 1.3 H SI2 have jumped from around 30%. We couldn't afford that if we were buying now!! Now, we could afford a 1.1 with the same specs. It's actually kind of insane. And it's going to jump again??? Unbelievable. At this rate, I'll need another appraisal before the end of the year!

To the poster who commented about ebay, they apparently have heard about the diamond increase as well. A few on there who are apparently drop shippers, as they have the same diamonds listed as on this website, have higher prices than what can be found here. Most of the average sellers are long gone, and the few who are left, have their diamonds listed at extremely high prices. The only exception is in the antique categories. But overall even on ebay, bargains are few and far between.

Written by stlc » June 21st, 2011, 8:07 am:with the increases going on, does it also affect the baby d's? Like the melee? I wonder?

Yes it does.

Written by ruby59 » June 21st, 2011, 1:17 pm:To the poster who commented about ebay, they apparently have heard about the diamond increase as well. A few on there who are apparently drop shippers, as they have the same diamonds listed as on this website, have higher prices than what can be found here. Most of the average sellers are long gone, and the few who are left, have their diamonds listed at extremely high prices. The only exception is in the antique categories. But overall even on ebay, bargains are few and far between.

The antiques vendors have clearly cottoned on to these hikes - I haven't been finding any bargains lately, and I've been looking! And the private sellers of used goods all seem to be listing by the appraisal value lately

Written by Yssie » June 21st, 2011, 1:31 pm:

Written by ruby59 » June 21st, 2011, 1:17 pm:To the poster who commented about ebay, they apparently have heard about the diamond increase as well. A few on there who are apparently drop shippers, as they have the same diamonds listed as on this website, have higher prices than what can be found here. Most of the average sellers are long gone, and the few who are left, have their diamonds listed at extremely high prices. The only exception is in the antique categories. But overall even on ebay, bargains are few and far between.

The antiques vendors have clearly cottoned on to these hikes - I haven't been finding any bargains lately, and I've been looking! And the private sellers of used goods all seem to be listing by the appraisal value lately

Ditto yssie -- the estate/antique sellers have caught the price increase bug, too.

I've been checking ebay regularly since March-April for vintage settings to replace my temporary setting that's too big for me. There are fewer and fewer quality estate and vintage settings listed - especially settings without stones -- so I'm wondering if people are just scrapping these more basic settings instead of listing them. The vintage/estate pieces set with diamonds have all gone up in price -- even outdated, poor-quality mass-merchandise settings, in 14 kt. yellow gold, which used to be available for peanuts. These still aren't selling -- I see the same ones listed over and over -- but you can also see where the sellers have turned down offers, so I guess these sellers are sticking to their guns, expecting the price increases to work in their favor, even on the cr*p.

The prices of decent estate/vintage pieces has been steadily increasing, including pieces that need work! And on the auctions I've been watching, there are several bidders, so the prices get bid up pretty quick.

I asked my local jeweler to price out a few stock settings for me, and the quotes I got back made a custom solitaire from Leon look like a bargain. It's nuts. I'm not sure what I'm going to do -- keep looking on ebay and Craigslist and hope there are still a few sellers out there who aren't following the diamond/metals markets, I guess! It's really made me rethink several jewelry projects. I'd rather spend the money on travel.