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Diamond Prices And Engagement Rings Going Higher And More Expensive?!
The answer is Yes.
A report in todays Namibia New Era Updates indicates the the the size and quality of mined diamond rough is decreasing and that diamond site holders are concerned about the long-term viability of their diamond cutting and polishing factories and retention of their skilled diamond cutters.
Diamond prices saw significant across the board price increases from half carat to the rarer high quality 2 carats and above just recently in May 2008. No doubt more price increases are on the way. Your diamond engagement ring is becoming more and more expensive!
More at this link: Diamond$ Going Up And Away!
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Comments
Although this is very true, I have found that many mall based jewelers are splitting this large growth in the cost of materials with their customers. At Major Jewelers www.majorvault.com A salesman had explained that to combat the the growing costs of gold and diamonds they have simply cut their margins almost in half to remain competitive and not scare away potential customers with over the top pricing. I think having the jewelers share in the higher costs of goods with the consumers is a great way to keep jewelry affordable and more importantly the consumers interested in a market like this one.
Posted by: Terry Williams on September 9, 2008 11:41 AM