Latest news on diamond prices crashing

[smitcompton]

Hi,

There is a newsletter that I have followed for many years. Its called the Gemstone Forcaster, and is put out by a respected jeweler, named Robert Genis. I think you will all be interested in what he says. www.preciousgemstones.com -Fall 2019

Annette

 

[OoohShiny]

Hi,

There is a newsletter that I have followed for many years. Its called the Gemstone Forcaster, and is put out by a respected jeweler, named Robert Genis. I think you will all be interested in what he says. www.preciousgemstones.com -Fall 2019

Annette

Interesting, thanks for posting the link!

I think he's echoing other recent articles about how De Beers is finding it hard to shift stock onto sightholders and the banks are reluctant to lend for purchases - I'm interested to see how it all pans out.

He has an interesting graph showing the historic pricing of D FL stones, though - I've not seen it before and it might be useful!

http://www.preciousgemstones.com/images/20190929-roughdiamondsales2.png

(Link to the report page: http://www.preciousgemstones.com/Forecasters.html >> http://www.preciousgemstones.com/gffall19.html)

Those in the Trade for a long time (@Wink!) likely remember the spike all too well!

 

[smitcompton]

Hi,

Yes, his newsletter is not his original research , but I wanted those that frequent colored stones to see that the prices have gone up on the colored stones-ruby, and emerald to exceed diamond prices.
My own recent observations have also concluded that emeralds are selling at higher prices than diamonds. It has been discussed on here that emerald prices were going higher but even on the TV shows emeralds are more desirable than the diamonds.

I have also noticed that beautifully colored red rubies from burma that are mainly opaque are selling at very high prices+++ 10,000 for a 4 ct ruby. Really--opaque Burma rubies? I have one like that I set. Color is beautiful, but it is opaque. I thought it was worth very little.

Colored stones will become more scarce, IMO. I did not dare to put this Newsletter in the Diamond section. I also said Robert Genis was a jeweler. I think to say he is a Gem Dealer would be more accurate.

Diamond demand has fallen so much in the last year. I suspect that will continue.

Annette

 

[qubitasaurus]

I don't know, every one of his reports for some time have said very similar things. That x % of your assets is a reasonable investment in gemstones etc.

Coloured gems do seem to be rising, and a good ruby is very expensive. But that is not what people here tend to buy -- nor what the average consumer who stumbles on that site will be in the market for. A poor quality ruby (i.e. very cloudy with strong purple colouration) may not have appreciated in price much at all. Reasonably it is hard to do the comparison as most of the millions of cts de beers is trying to unload to its sightholders is not top quality daimond.

I am further confused by the fact that this is not likely to be an unbiased source -- even his whole heartedly honest opinion will be heavily tinctured by the people he associates with and honestly these include a lot of coloured stone retailers.

One can simply conclude that the daimond market is in trouble. Something that has been echoed for a while now.

 

[Bron357]

Times and tastes are changing.
Gone is the day when every married woman wore a diamond engagement ring. It was pretty much a “rite of passage”, get engaged and show that diamond ring to all and sundry. Of course couples are still “pairing up” but not very often with diamond rings. Too many other ring choices as well as other expenses and alternate desires.
The Asian market remains very strong and rich but they love love love their jade and now Rubies and Emeralds. They arent fussed on little diamonds - huge ones, perfect ones, coloured ones yes. However the “bread and butter” of the diamond market, those with $1,000 to $20,000 to spend has pretty much dried up.
Diamonds were never a necessity and I think their time to sparkle is passing.

 

[missy]

Diamonds were never a necessity and I think their time to sparkle is passing.

True.

No gemstone is a necessity. In fact no jewelry is a necessity. They add to the beauty that is life and makes life (for some of us) more worthwhile and enjoyable. However we do not need bling to live and that is what I define as a necessity. Absolutely essential and indispensable.

The only true necessities in life are water, food, shelter and (IMO) love.