shape
carat
color
clarity

bcmacdonald

Moderator
Staff member
Joined
Jun 4, 2020
Messages
225
PriceScope-2-683x1024.png


bcmacdonald published a new blog post.
The COVID-19 pandemic is no longer the only contributing factor affecting the price of diamonds. As we’ve seen in recent news headlines, socio-economic issues such as riots in diamond mining countries can also have a negative effect on the price of diamonds. As we head into the final months of 2021, we will...

Continue reading the Original Blog Post.
 

Garry H (Cut Nut)

Super_Ideal_Rock
Trade
Joined
Aug 15, 2000
Messages
17,047
Is that Gini coefficients chart actually the one you meant to post, @Garry H (Cut Nut)?

Yup Molly - from the OECD - the two biggest markets for diamonds are where the gap between rich and poor is greatest.
But this needs to be seen inlight of price rises / falls for different diamond sizes.
 

MollyMalone

Ideal_Rock
Premium
Joined
Jun 2, 2013
Messages
3,351
I'm wondering abut a couple of things
* You've said that "the two biggest markets for diamonds are where the gap between rich and poor is greatest." But there are a number of countries with greater income inequality in the past 10 years than the US (e.g., Chile, Mexico, Botswana, other African nations), and none of those countries is a big market for diamonds. So I'm thinking that you inadvertently left something out of that sentence, or perhaps could add something now that would clarify the connection/corollary you're drawing?

* Were you able to figure out where that lone, 2011 indicator for China on the OECD chart came from, why 2011 is the only year ?
I discovered the World Bank's current Gini Index has Gini coefficients for China past 2011, up to 2016, and shows a (relatively) sharp plummet from 42.4 in 2011 to 38.5. It will be interesting to see if the World Bank is able to update this in the near future.

World Bank GINI (as of Sept 2021).png
 

Garry H (Cut Nut)

Super_Ideal_Rock
Trade
Joined
Aug 15, 2000
Messages
17,047
Thanks for participating Molly.
You are a lot more cleverer than me.
I thought the chart (posted here for those who have not bothered to click the link) shows the divide between rich and middle class.
I think we would all agree that +4ct diamonds are the domain of the rich. I guess I am drawing a long bow by saying that US and China, being the lions share means they also buy the biggest diamonds. Clearly China also has a huge number of lower middle class people buying 30-50 point Erings. And the Gini shows the effect of Xi on the wealthy people who have pulled their heads in - or moved next door to my new house (see link below).
But I find it interesting that the big diamonds have really grown in value relative to the smaller stones.
LGD's will over time cause those bigger diamonds to increase in value even more as there will be less funds supporting prospecting and fewer new mines.


1631746362321.png

(My home is about 1/4 that size) https://www.realestate.com.au/news/melbournes-own-buckingham-palace-for-sale-in-canterbury/


Some info on where diamonds go.
 
Be a part of the community It's free, join today!
    A Diva Got Her Diamond: Kristen Chenoweth is Engaged!
    A Diva Got Her Diamond: Kristen Chenoweth is Engaged! - 12/03
    December Birthstones 2021 - Zircon, Turquoise, and Tanzanite
    December Birthstones 2021 - Zircon, Turquoise, and Tanzanite - 12/01
    "Not so Fast!" says Mother Nature
    "Not so Fast!" says Mother Nature - 11/29
Top