Diamond price increase

[DreamingOfDiamonds]

This may be a dumb question but how much more more diamonds increase with the tariffs? I’m interested in natural & not lab grown…

 

[TXwidow]

I doubt anyone can answer that question without more info. Where is diamond being shipped from? Where will diamond be shipped to (end user)? Many tariffs are now (again) on 90 day hold, except for China? When will you purchase--now or more than 90 days from now?

 

[tyty333]

This may be a dumb question but how much more more diamonds increase with the tariffs? I’m interested in natural & not lab grown…

Stones from India are supposed to go up by 27%, I believe. Take a look at this article from Rapaport.

Diamond and Jewelry Trade Braces for Impact of US Tariffs

The US has placed tariffs of 10% on imports from all countries and higher duties on India, prompting concern and uncertainty in the industry.

rapaport.com

I was watching some stones on BN and JA in the $650 range. Seems like a couple of them have gone up by $100 dollars or more.
So it seems like the tariffs are hitting.

I had an old Pricescope search up that has the cost, but when I click on a stone, it may or may not be that cost. Just saw one that
was on PS listed at $730 but now its $780.

 

[Rockdiamond]

We've already gotten quite a few emails from large diamond cutters warning of price increases.
It's a weird market in so many ways- even before the tariffs.
Demand for natural diamonds is down.
Even so, that does not mean prices have been much softer.
If we need a stone, it's expensive. If we need to sell a stone we own- to raise cash- we get killed on the cash market.
It's never been "easy" to sell diamonds.
It's harder than ever, which should soften the price. But it's not.
I see this as another move to oligarchy in the diamond business.
"Let them eat lab grown"
The people in charge of these massive cutting companies have so much money, they can afford to sit on the goods and wait.
Likely that consumers who want natural diamonds will be paying more.

 

[kenny]

Stones from India are supposed to go up by 27%, I believe. Take a look at this article from Rapaport.

Diamond and Jewelry Trade Braces for Impact of US Tariffs

The US has placed tariffs of 10% on imports from all countries and higher duties on India, prompting concern and uncertainty in the industry.

rapaport.com

I was watching some stones on BN and JA in the $650 range. Seems like a couple of them have gone up by $100 dollars or more.
So it seems like the tariffs are hitting.

I had an old Pricescope search up that has the cost, but when I click on a stone, it may or may not be that cost. Just saw one that
was on PS listed at $730 but now its $780.

... perhaps just a previously-planned increase that happened right now.
... perhaps just pre-tariff gouging ... either from BN itself, or from their supplier, which is passed on to their customers.

You've heard of pay it forward ... well this could be charge it forward.

Why would anyone do that, you ask?
The same reason a dog licks his b___s. ............... it feels good,,,,,, and he CAN.

 

[sledge]

LOL @kenny and your dog analogy.

We pushed the billion dollar mark last year and continuing to chase big work. We buy lots of materials and many of those suppliers are getting nervous. Mind you, we build roads & bridges and not diamonds. We are starting to see shortened validity, escalation clauses, etc. Nothing like COVID when I was getting quotes that was literally valid to COB the day they were sent.

I tend to agree with @Rockdiamond that diamonds are a different breed. It’s a luxury purchase. Sure, people will get married regardless of the markets but many will switch to more reasonably priced alternatives. Those that are dead set on natural and/or have more discretionary income will gripe but continue to buy. As inventory slows, suppliers will get hungry and balance will restore.

Look at the car market. A few years back you were lucky to buy at sticker. Now the dealers & manufacturers throw cash at you like you’re a stripper on a pole.

 

[oncrutchesrightnow]

So far of the diamonds I track, some high color/high clarity prices have gone up ~5%, but not all. Low color and/or low clarity have not budged and a few have decreased slightly.

 

[WillyDiamond]

I have been reading a lot about diamond price increases with the tariffs. No one is sure what is going to be. I have not seen definitive numbers.
However, you have options. There are certain products we really have no choice to pay up, such as diapers for children, milk for children. We need these items to live and very few if any substitutes. Diamonds are not one of them. Find an alternative like LGD or a different stone or just put off the purchase for now if the price is uncomfortable to pay. If you do pay up when the prices go up then you are really condoning on what is going on with tariffs and reciprocal tariffs. Take back your power. If demand decreases you will see prices go down.

 

[Mrsz1ppy]

I asked my local jeweler what her take on the tariffs was. Her response, with raised eyebrows, was that her diamond stock just went up 27%, but she was waiting to see how it played out.

 

[canuk-gal]

I asked my local jeweler what her take on the tariffs was. Her response, with raised eyebrows, was that her diamond stock just went up 27%, but she was waiting to see how it played out.

Wasn't her stock already purchased and cost sunk??

 

[Mrsz1ppy]

Wasn't her stock already purchased and cost sunk??

My thoughts exactly! I mention it here, because that shows a mindset.

Big diamonds can take years to sell. I’m not in the diamond business but guess that is true. Just thought it was an interesting insight.

 

[Karl_K]

Wasn't her stock already purchased and cost sunk??

A lot of stores that own stones work on a rotating stock basis.
They buy a 1ct h-vs2 blah blah blah stone.
They sell that stone and replace it in stock and the $$ difference between the sale price and the price to replace it is what keeps the lights on.
If they sold the diamond based on what they paid for it they would either not have the money to buy another and or the money to keep the doors open.
So buy at $1 sold at $1.50 but it costs $1.60 to buy another for stock the rotation stops.
That is why most stocking dealers can not hold the line on prices for long.