Recycled Diamonds Haunt Industry

[mary poppins]

Article in today's New York Times - industry information about a lot of used diamonds (via CraigsList, ebay, pawnshops) flooding the market and depressing prices. Prices expected to decline more except in Asia and India where demand has increased. As PSers know, many good pre-owned finds online (our very own Preloved PS Jewels!) and in the pawn shops, with more to come.

http://www.nytimes.com/reuters/2012/03/13/us/13reuters-mining-diamonds.html?hp

 

[Amys Bling]

Interesting!

 

[kenny]

Thanks for posting that!

 

[MichelleCarmen]

It'll be interesting to see what used diamonds really do to the market if a person is trying to sell a half carat for $1800! People still can find new stones for less than that. Just shows that a lot of people, especially on CL, don't understand that people looking to buy on the second-hand market expect a discount. Seems those of us on PS are a lot more savvy when it comes to buying used stones. Everything I see on CL is ridiculously overpriced.

 

[Karl_K]

Another article on the same thing:
http://www.nytimes.com/2009/02/23/opinion/23iht-edepstein.1.20368819.html

 

[MichelleCarmen]

Another article on the same thing:
http://www.nytimes.com/2009/02/23/opinion/23iht-edepstein.1.20368819.html

DeBeers is also finishing up that monopoly class action lawsuit. Meaning more people are aware of the inflated market they create which will result in individuals looking for alternative ways to purchase for less due to DeBeers loosing that battle.

I wonder how many here on PS are part of the lawsuit and when all the $10 checks will be mailed out! lol