Metal/Diamond Prices--Buy Now or Wait?

[cremebrulee]

Hi everyone,

I have been lurking for a few months, and I have learned a lot!

I would like your opinions...

I am getting married in the fall of 2012. We are planning on getting a custom wedding band (platinum, micopave) to go with my engagement ring. We had thought about going ahead and doing it now, but now I am having hesitations because of the prices of diamonds and platinum. Obviously it is a gamble either way, but since you all know much more about this market/industry than I do, are there other things to consider besides just hoping the market works out in our favor?

Thanks!

 

[AN0NYM0US]

Diamonds are typically highest right nowish. There are many important shows going on in the early summer ex. Vegas, Hong Kong ect...IMO the best times to shop for diamonds are after these gems shows (late July to early September) when interest dies down and people are using their funds for end of summer vacations and right after Christmas when people are broke.

There are rumours going around about a 25-35% increase in late September/early October this year...

 

[Circe]

I honestly don't know. I'm feeling a little paranoid, given that while I don't keep an eagle eye on diamond prices, I've watched metal prices rise steadily over the course of the last two years without ever going down significantly. My husband, who's a lot better with seeing general financial patterns, eyeballed the price stats page here, shrugged, said they looked linked to overall financial cycles, and said he couldn't see them going astronomically high unless we experienced another bubble of some sort.

I figure if they really do rise stratospherically, that's when I develop a renewed interest in colored stones ... but that's in the long view. If you're getting married in 2012? I think I'd buy now.

 

[cremebrulee]

Thanks for your opinions!!

 

[minmin001]

if you are getting married next year, buy it now

 

[kdn2684]

I was in the same boat as you and regret not buying a ring a year ago. if you already know that you are going to get married for SURE, i'd but the darn thing right now. But I'd buy an engagement ring from someone with a lifetime upgrade policy. That way you can always trade up if she doesn't like the ring a year later. That way at least you can lock in at today's price which will be less than a year from now.

 

[Bosie]

I think I would buy now. My crystal ball says the prices will be higher in a year. But you cannot know for sure. This topic has been discussed many times, and it is not a free market in terms of pricing, meaning supply vs. demand. The supply is manipulated by a few large players, so no one really knows for sure. Best of luck.

 

[Dreamer_D]

I say buy now if you can afford it. But a big part of the cost of a platinum micropave band is labour, metals and diamonds not s much, so I actually think you could wait and probably not be taking too big a risk. It would be different if you wanted, say, a 5 stone band.