Debeers lowers diamond prices by 10 %-larger diamonds by 25%

[smitcompton]

Hi,

I believe consumers should be aware of what is happening in the diamond industry. Pricescope's graphs do not seem to reflect the downward pressures on diamond prices. Rockdiamond accurately told us i-2 carat prices were falling, but PS graph showed no changes month to month for the last quarter. DeBeers says there is now an over supply on the market, and a lackluster demand for the diamonds. Thus, the reduction in price. Of course Lab diamonds are a significant cause.

For me. the larger reduction in price of larger diamonds seems counter-intuitive. But there it is. Since there has already been reductions in price and this is in addition, you all should be looking for lower prices. Lab diamonds have been a disrupter in the diamond market.

I also would recommend a paper done by a senior research fellow at the American Enterprise Institute, a Washington moderately conservative think tank who researched DeBeers Marketing in 2013 and said that DeBeer perpetrated the biggest marketing scam on Americans ever.

Annette

 

[Rockdiamond]

Hey Smit!!
I really think you're being a bit tough on PS- and the charting of prices they offer.
The metrics are impossible to accurately calculate- speaking as someone who buys diamonds daily.
Yes, prices are softer- but then again, if you want something really special, it's still not a "bargain basement".
When considering less desirable goods ( badly cut, imperfect, off color).......almost no bottom.
The real problem here from my perspective is Rap- as I made clear in the other thread. He's unwilling to accept the reality of the current market. So the Rap sheet is like "the blind leading the blind" ( no offence intended)

DeBeer perpetrated the biggest marketing scam on Americans ever.

I get the point he's making but...yawn. This dog has been flogged a thousand times.
Diamonds have value for many real reasons.

 

[smitcompton]

Hi, (Rockdiamond)
I certainly don't mean to be tough on Pricescope. This is just an update with something that appeared in my news feed today.
I want to say that I think the vendors who participate on PS are great. Therein lies the problem. Its hard to give info when it appears to hurt these vendors. In this aspect it seem to me to be a conflict of interest between consumer vs vendor. We have different interests at times. It is up to each individual to decide how they wish to proceed.

I have an example that came to a head last week for me. I have used a pharmacy for 38 yrs. He was a young guy in his twenties when he opened. I was one of his first customers. I love this guy. He delivers my meds to my home. I pay more. He is out of network pharmacy for my medicare part D. I had a little run in with a new person on delivery. I was upset, but quickly realized I'm not going anywhere. I will avoid the woman. I'll continue to pay more as its worth it to keep my pharmacist. So , people can keep their jeweler but should have information .

By the way, I have never found you to be over-priced. Your website is beautiful. I have fallen in love with many of your jewels.

Lastly, how is our Lauren? I hope safe and well. I also agree that if I were living there my opinions might quite well be different. Really hope everything is good.

Annette

 

[Rockdiamond]

Lastly, how is our Lauren?

Hey Smit- what a lovely post! I just saw it...
Thank you so much for asking.
It's a terrible way to live. My heart breaks for all the people there.
Thankfully, our Lauren is OK and getting by, as much as is possible given the horrible situation.