2008 Was A Tough Year For Diamonds and Engagement Rings

Sales of Luxury items, especially diamonds and jewelry took a big hit in 2008 and their sales across the board were significantly down for both Retail Brick & Mortar jewelers as well as Internet diamond websites. Reports of 35-55% decreases in sales were noted.

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Avi Krawitz of Rapaport News provides a detailed review and analysis on the diamond industry of 2008 and what might be in store in 2009.

Diamonds-OUCH!

Colored Gem Diamond Rings & Engagement Rings Are Big In 2009!!

Already, we are seeing a move in the direction of colored gems paired with diamond rings, to start 2009.

This trend covers not just promise rings and diamond rings, but even engagement rings with colored center gems are becoming popular for 2009.

We are getting requests for Tiffany Legacy Inspired diamond engagement rings, set with blue sapphires and other precious gemstones in the center.

With the economy faltering (let’s hope it gets better..), people are looking to add some color to their lives!!!!

We could not agree more…take a look at this incredible eye-candy!

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Luxury Holiday Sales Way Down This Christmas Season.

MasterCard’s SpendingPulsereports that luxury retail sales in the U.S. dropped 34.5 percent this holiday season. Total retail sales, excluding automobiles, fell by 8 percent in December through Christmas Eve, compared to last year.

Excluding gasoline sales, the fall in retail sales was 2.5 percent in November and 4 percent in December.

Blue Nile revenues declined by 2.9 percent while Tiffany revenues dropped by with same-store sales declining by 14 percent.