What an odd thread, I know, but I've always been fascinated by economical analysis in any industry.
My question is simple, for those of you still in the trade, how exactly do jewelry stores stay afloat during these trying times?
I purchased my .91 diamond in 2015, at a jewelers who has an upgrade policy of spending only $1 more to upgrade. Then, last week, I read an article that diamond prices have been dropping amidst changes in preferences. Curious, I checked the jewelers webpage to see what I could upgrade to with just $600.
I ended up trading in my gorgeous stone for another gorgeous stone, but almost .50 larger! A 1.40, same cut specs but slightly lower color, for exactly $600 more. When I went to check the prices today at that jewelers for a comparable stone to my .91, I found the price is HALF of what I paid in 2015, but of course I get 100% of what I paid towards current prices. I thought I was getting such a steal I pulled the trigger before they revoke the trade-in policy! So my question is....
How long can this go on this way? This can not be a profit-win for the jeweler in any circumstance.
*If this needs to be moved to another sub forum please let me know
My question is simple, for those of you still in the trade, how exactly do jewelry stores stay afloat during these trying times?
I purchased my .91 diamond in 2015, at a jewelers who has an upgrade policy of spending only $1 more to upgrade. Then, last week, I read an article that diamond prices have been dropping amidst changes in preferences. Curious, I checked the jewelers webpage to see what I could upgrade to with just $600.
I ended up trading in my gorgeous stone for another gorgeous stone, but almost .50 larger! A 1.40, same cut specs but slightly lower color, for exactly $600 more. When I went to check the prices today at that jewelers for a comparable stone to my .91, I found the price is HALF of what I paid in 2015, but of course I get 100% of what I paid towards current prices. I thought I was getting such a steal I pulled the trigger before they revoke the trade-in policy! So my question is....
How long can this go on this way? This can not be a profit-win for the jeweler in any circumstance.
*If this needs to be moved to another sub forum please let me know
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