Piglet9j7|1311635105|2976648 said:What the heck is going on with the price of diamonds? They seem to have sky rocketed in the past two months.
Can anyone provide insight? Advice to those of us looking to buy?
Piglet9j7|1311635105|2976648 said:What the heck is going on with the price of diamonds? They seem to have sky rocketed in the past two months.
Can anyone provide insight? Advice to those of us looking to buy?
Eskiez|1311645105|2976784 said:I was meeting with Perry Chen at Leon Mege on Friday afternoon when he got a call. When he came back into the room, he said it was the call saying that prices are about to rise again around the end of this week. If true, I am glad we settled on a stone last week and will tie up the loose ends on it shortly. I'm not sure if melee are going to be included in that hike or not.
bertg16|1311637686|2976678 said:If prices fall, then you could essentially upgrade your diamond without having to pay much out of pocket, if anything at all.
I believe DeBeers were actually the only rough producer (miner) who increased their output..., all other miners informed public and stakeholders production was down because of mining issues.smitcompton|1311703878|2977152 said:Hi All,
This morning on CNBC or Bloomberg business news they posted that DeBeers was reducing its production of diamonds by 8%.
Thanks
James Allen Schultz|1311693317|2977064" data-source="" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch">James Allen Schultz|1311693317|2977064 said:bertg16|1311637686|2976678 said:If prices fall, then you could essentially upgrade your diamond without having to pay much out of pocket, if anything at all.
And if that happens, vendors offering restriction-free upgrade policies could face bankruptcy.
We require a 2x spend for a reason.
James Allen Schultz|1311693317|2977064" data-source="" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch">From the consumer's perspective, I have to disagree with this policy. If I bought a $20,000 diamond from you and wanted to upgrade, I would have to spend at least $40,000. Then you sell my $20,000 diamond for much more than I paid for it. That kind of a jump is almost the same as saying you cannot upgrade your diamond from this vendor. Knowing this, I would not buy a diamond from your company. I expect an upgrade or trade up to be the value of the stone when I bought it from the vendor.James Allen Schultz|1311693317|2977064 said:bertg16|1311637686|2976678 said:If prices fall, then you could essentially upgrade your diamond without having to pay much out of pocket, if anything at all.
And if that happens, vendors offering restriction-free upgrade policies could face bankruptcy.
We require a 2x spend for a reason.
Always a chance... it's a commodities market.centralsquare|1311738608|2977692 said:Seems that this is not a temporary increase? No chance they will go down in the future?
Hi Neil,denverappraiser|1311732215|2977613 said:Garry,
Do YOU have a trade-up policy? Why or why not? If so, what are the rules on yours?
TristanC|1311743556|2977758 said:Hi Garry, am I reading it wrong or was the final wording also that you would require a 2x value? So if I bring in a diamond, you say it is worth 10K at resale, then I would get 10k credit, then I need to top up 10K to buy a diamond? The generosity is that every single diamond is considered at full resale price, not just your own be it vintage or preowned etc. Is this right?
Everything is cyclical in price. Luxury goods tend to do better in periods of economic recovery and economic strength. So the next time the financial world collapses it is likely diamonds would be cheaper again. Fine if you want more jewelry - not so good if you want to propose.
"Darling, when are you going to marry me?"
"Erm, the next time the Dow Jones goes into complete freefall dear"
Garry H (Cut Nut)|1311741824|2977742 said:Bring any diamond* of more than 0.25ct and we will credit you with its full resale value to your trade up. Any diamond means any old diamond, good, bad or ugly, for a new bigger or better quality diamond. All we ask is that you make an equal value contribution from your own (or someone else's?) pocket.
denverappraiser|1311769943|2977895 said:The presumption that all prices will go up forever is NOT a valid one.
James Allen Schultz|1311778742|2977994" data-source="" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch">James Allen Schultz|1311778742|2977994 said:denverappraiser|1311769943|2977895 said:The presumption that all prices will go up forever is NOT a valid one.
There's the rub. A vendor that tells a client they can buy any diamond today, wear it for as long as they like, then come back in and trade it in for any other diamond of equal or greater value is betting that prices will only go up. It would be like a real-estate agent telling you that if you buy a house from him he guarantees to buy it back for exactly what you paid anytime in the future (as part of a trade), regardless of actual market value. It's great idea, up until the day the bottom drops out of the market.
risingsun -
If you bought a 20k diamond from us you could trade it in on any diamond you like, regardless of price. We're just not going to guarantee you full credit unless you double your spend. On a spend of less than double you would still get a huge credit from your original purchase - just not 100%. Most customers purchase diamond engagement rings in the neighborhood of $2,000-$6,000, so for those customers the idea of spending double is not nearly as daunting as the 20k to 40k example.
James Allen Schultz|1311693317|2977064" data-source="" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch">James Allen Schultz|1311693317|2977064 said:bertg16|1311637686|2976678 said:If prices fall, then you could essentially upgrade your diamond without having to pay much out of pocket, if anything at all.
And if that happens, vendors offering restriction-free upgrade policies could face bankruptcy.
We require a 2x spend for a reason.