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Should we wait to buy diamonds? As price may go down in this economic downturn?

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lovelydiamond

Rough_Rock
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Oct 27, 2008
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Should we wait to buy diamonds? As price may go down in this economic downturn?

Just want to see how people on this forum are foreseeing about diamond price? Will it go down or continue up? By how much?
33.gif
 
No one knows...but if you are looking at bigger stones (i.e., over a carat) it is very unlikely that price will go down more than a teensy bit.

And it'll probably be months before anyone knows anything...it's all speculation at this point.
 
my guess....
the price of diamonds would most likely to head south. JMO
 
My prediction is pricing will go down across the board except rarer segments (fancies and large carat polished stones). When they go down and by how much is hard to say. If you can wait, I would.
 
I have heard rumors and all friends of mine in the industry feel that the rappaport list may go down tomorrow. We will just have to wait and see.
 
I bet it would be a good time to shop for 5cts+ But more mainstream sizes are held in stable hands (I hope at least). Business is not so good, but its not so bad either. Dimondaires pride themselves on their stability through hard times, I doubt they will be panic selling on what is traditionally held as a sure thing. Business is slow sure, but with diamonds when is is not?
 
Rap may go down sure, but actual transaction prices wont drop below a certain threshold.
 
Date: 10/31/2008 12:11:09 AM
Author: Yekutiel
I have heard rumors and all friends of mine in the industry feel that the rappaport list may go down tomorrow. We will just have to wait and see.
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Welcome, I see you are relatively new with only 58 posts at the time of my posting to you.

As a vendor you can get your website address to be a link, I am not sure if you can do it or if you have to ask Andrey, but it will make it easier for people to visit your site.

Look forward to seeing you around.

Wink
 
Hi Wink,
Thank you for the warm welcome. As always you are a gentleman by trade and personality.
 
Date: 10/31/2008 12:11:09 AM
Author: Yekutiel
I have heard rumors and all friends of mine in the industry feel that the rappaport list may go down tomorrow. We will just have to wait and see.
Click to expand...
Is it tomorrow yet?
 
I do notice that BN has some of their diamond prices adjusted down, by a few hundred dollars, recently. I have been focusing on 1~1.10ct ones....
 
Hi Regular Guy,
When I wrote my post I thought it was still Thursday evening only now I realized it was Friday morning. In any event the list did go down today. Let us just see what happens now.
 
Date: 10/31/2008 11:38:54 AM
Author: Yekutiel
Hi Regular Guy,

When I wrote my post I thought it was still Thursday evening only now I realized it was Friday morning. In any event the list did go down today. Let us just see what happens now.
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Which classes and how much?
 
I don''t know where to begin. In general all rounds VS2+ came down about $500pc for sizies going up to 2.99ct and above 3.00ct SI1 and SI2 came down in price aswell.
 
Rap did not drop prices for smaller than .30ct stones did not change.

All colours dropped and the drops are higher in the top clarities (they overshot before).
So clarities from IF-VVS dropped generally 5% or sometimes 7-8 an occasionally 10%
Some sizes SI-SI2 did not change
No I1 or lower changed

The VS and SI changes that happened are usually 5% or less
 
I'm in the same position.

I'm looking to buy a stone from .65-.75. I'm trigger shy right now because of the fall of the CDN dollar but once it goes into parity again I might consider purchasing anytime soon.

Anyhow, can anyone advice me if I should buy (if in case our dollar gets stronger again in the next 3 months). These are the specs of the diamond I'm looking at:

.65-.75
D-F
VS1-SI1
Triple-Excellent or Ideal cut
No cutlet/fluor
Table and Depth in the good ranges

I'm thinking December isn't a good time because everyone's going to be looking at purchasing jewelry, but what do I know. I'm not in a rush situation and I can wait some time but with the economic situation right now I can probably look for good deals right now.

Anyone?
 
Her is some information from the Pricescope listings.

BTW this is D-I colour and VVS2-SI2.

Average_percent_of_PS_10_2008.jpg
 
Based from that report,it seems like March is a slow month for my range.

Is this reflective of the whole diamond market?
 
Date: 10/31/2008 11:18:36 PM
Author: PS Admin
Her is some information from the Pricescope listings.

BTW this is D-I colour and VVS2-SI2.
Click to expand...
is 0.1 on ordinate axis =10%?
 
Date: 11/1/2008 8:11:55 PM
Author: Serg

Date: 10/31/2008 11:18:36 PM
Author: PS Admin
Her is some information from the Pricescope listings.

BTW this is D-I colour and VVS2-SI2.
Click to expand...
is 0.1 on ordinate axis =10%?
Click to expand...
I believe so Sergey - I asked Andrey to do it on a base of 100 - so 0.1 should equal 10% price variantion
 
I doubt prices will go down, at least for good stones. One thing is for sure, the diamond industry is quick to raise prices for whatever reasons (i.e. USD value, price of oil, overhead) and extremely slow for lowering them. I would say the prices would go down only depending on each individual dealer''s cashflow/inventory situation. That''s my opinion.
 
Date: 11/2/2008 6:12:59 AM
Author: Garry H (Cut Nut)

Date: 11/1/2008 8:11:55 PM
Author: Serg


Date: 10/31/2008 11:18:36 PM
Author: PS Admin
Her is some information from the Pricescope listings.

BTW this is D-I colour and VVS2-SI2.
Click to expand...
is 0.1 on ordinate axis =10%?
Click to expand...
I believe so Sergey - I asked Andrey to do it on a base of 100 - so 0.1 should equal 10% price variantion
Click to expand...

I will check my calculations and let you all know.
 
Hopefully this one is a little more clear.

Average_percent_of_PS_10_2008b.jpg
 
Interesting.

Does this chart take into consideration the quality of cutting, or only the color and clarity grades?

Wink
 
If you factor in currency changes: diamond trade prices in currencies other than the US dollar e.g. in sterling or Euros have actually gone up more than any changes caused by recent Rap corrections!

For example, sterling has dropped significantly againt the US dollar - up until a few months ago, we were getting ca. 2 dollars to 1 pound sterling but that rate has dropped to ca. 1.6 dollars to the pound - last week it was even down to ca. 1.5ish dollars to the pound.

This is in contast to the small changes seen in Rap last week.

As a relatively old timer myself: I recall when we used to get 1.4 dollars to 1 pound sterling so this is not news for me but it is a shock to those who had got used to a strong pound and a weak dollar.
 
Date: 11/3/2008 1:34:27 PM
Author: Indira-London
If you factor in currency changes: diamond trade prices in currencies other than the US dollar e.g. in sterling or Euros have actually gone up more than any changes caused by recent Rap corrections!

For example, sterling has dropped significantly againt the US dollar - up until a few months ago, we were getting ca. 2 dollars to 1 pound sterling but that rate has dropped to ca. 1.6 dollars to the pound - last week it was even down to ca. 1.5ish dollars to the pound.

This is in contast to the small changes seen in Rap last week.

As a relatively old timer myself: I recall when we used to get 1.4 dollars to 1 pound sterling so this is not news for me but it is a shock to those who had got used to a strong pound and a weak dollar.
Click to expand...
You mean after it collapsed due to the weak US$ in the last few years??? Correct?
 
Date: 11/3/2008 12:03:14 PM
Author: Wink
Interesting.

Does this chart take into consideration the quality of cutting, or only the color and clarity grades?

Wink
Click to expand...
It is the entire listings from Pricescope Wink - good, bad and the ugly.
 
Date: 11/3/2008 4:51:31 PM
Author: DiaGem

Date: 11/3/2008 1:34:27 PM
Author: Indira-London
If you factor in currency changes: diamond trade prices in currencies other than the US dollar e.g. in sterling or Euros have actually gone up more than any changes caused by recent Rap corrections!

For example, sterling has dropped significantly againt the US dollar - up until a few months ago, we were getting ca. 2 dollars to 1 pound sterling but that rate has dropped to ca. 1.6 dollars to the pound - last week it was even down to ca. 1.5ish dollars to the pound.

This is in contast to the small changes seen in Rap last week.

As a relatively old timer myself: I recall when we used to get 1.4 dollars to 1 pound sterling so this is not news for me but it is a shock to those who had got used to a strong pound and a weak dollar.
Click to expand...
You mean after it collapsed due to the weak US$ in the last few years??? Correct?
Click to expand...
Weak or not DG - it has stopped my purchasing when the A$ dropped from the mid 90''s to low 60''s.
So the rise in the US$ could easliy kill demand in the rest of the world - thereby being a catalyst for falling prices - even more so than the reduced demand from USA.

Infact the very sudden rise in US$ / fall in A$ is my biggest single threat to my business in 32 years.
 
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