Do prices of diamonds fluctuate based on season?

[aptp]

Hello all, I plan to propose to my partner sometime early to mid 2017 and am starting to research engagement rings and diamonds. I read that diamond engagement rings are in very high demand from Thanksgiving-to Valentine's Day because of engagement season. My questions are
1) Do prices rise to reflect this higher demand?
2) Would you advise me to hold off on my purchase till after Valentine's Day (for both price and inventory reasons- might have a larger selection since fewer people are buying at the same time).

I am thinking of both brand name stores (Tiffany/Cartier/Harry Winston) and online retailers like BG, WF. Haven't decided yet.

Thanks.

 

[Texas Leaguer]

There is certainly seasonality in the jewelry business in general, however the engagement ring business is a rather unique subset. It is pretty steady throughout the year with some relatively minor upticks around the major holidays. Couples do like to get engaged on natural occassions where family will be gathered. But that level of seasonality is not enough to drive prices or supply to any significant degree when it comes to bridal diamonds and jewelry. Other events in the diamond trade at different times of the year have just as much or more impact, such as traditional summer vacation closings of diamond manufacturers.

Since you are in no hurry, you can take your time shopping and do thorough research. There are many knowledgeable and helpful people here who will help. Best advice is to methodically determine what type of diamond and what style ring design is right for your particular situation, and when you check all the boxes, go ahead and move forward. Waiting has just as much potential to cost you more as to save. Moreover, with an engagement ring it is more about getting it right than saving a few bucks.

 

[gm89uk]

Unless it is vitally important to your girlfriend you go for the mainstream brands, I would advise you to the latter online stores such as WF compared to the 'big names'. You can get higher quality, more precision cut diamonds for significantly lower prices with excellent customer service. Their diamonds come with a lot more information about light performance of a diamond which lets you make a much more informed decision and guarantees you a super ideal diamond. Tiffany's do not make such promises about their diamonds, and multiple online reviews demonstrate their diamonds are not the absolute best cut.

 

[Victor Canera]

I think an important aspect of this is the polished diamond which in most cases makes up the majority of the costs in an engagement ring.
Polished diamonds don’t really fluctuate much in costs unless there is a deep recession or cataclysmic international financial situation. The reason for this is that diamonds are controlled by large multinational conglomerates which withhold or increase rough diamond supply to keep prices and the market steady. This might be considered a monopoly by some but it does stabilize the diamond market. A lot of times the rough diamond market seems to be unrelated to the polished completed diamond side because there have actually been slight price increases in rough diamonds that have not been passed on to the final polished diamond yet.
Manufacturers of diamonds are having a hard time because their margins are being squeezed on a monthly basis by the rough diamond suppliers (mining companies etc) but they get price resistance from the polished diamond buyers. One side will have to give eventually.
I can tell you from experience that the rough diamond market is sky high and rough diamond assortments sell sometimes for 20% premiums from market prices, which would guarantee a loss in a polished diamond just because the purchaser doesn’t want to lose their place in line or for other reasons. Anyway, it’s complicated. Currency fluctuation is a different matter if you're located outside of the US, this might make a bigger impact in your purchase.