1980 DIamond prices, at their peak. A historical view.

[oldminer]

We just found this old diamond wholesale price list from August 1980. It is historically of interest to some of us since diamond prices ran up very fast between 1978 and 1980 only to crash, especially the highest quality stones. The run up of prices in diamonds was triggered by speculation by a couple wealthy individuals, mostly in the silver commodity markets. It became a wave of financial panic that had very little basis in fact, but just shows how a panic attack can lead to unexpected events.

We used to refer to these Ben-Dor prices in much the same way that we use Rapaport prices, with the exception that Ben-Dor actually offered diamonds to retailers at the prices listed. Rapaport came along in about the same period, but became a far more recognized source of information,

 

[Rhino]

Fascinating Dave. This was the year before I graduated High School and the period of time my mom and dad started in business *because* of this sharp increase.

Hope this finds you well.

Kind regards,
Rhino

 

[AprilBaby]

Interesting... I knew my BIL bought my SIL a 1 ct for $10,000 that year in April. I got a measly .35 for $365. Boy was I jealous! No idea what 4 c's were on my diamond.

 

[MissGotRocks]

Oh, to go back and have ONE day at these prices - lol!

 

[Tekate]

My husband bought me my current 1.66 G/H VS2 diamond in 1988 in the diamond district on 42nd street.. he paid 7,700. It is a bit later than your list obviously but it seemed like a huge amount of money then to me. thank you for the historical information. Those were interesting times, we first went to a jewelry store in Poughkeepsie NY and the salesman showed us a milky white, fractured looking diamond and said that was all we could get for 5K.. I was young and at the time I thought uh oh.. we then went to the city and while I read now that the district is snarky, at the time I didn't feel that we were being taken advantage of and the diamond was bigger, much more shiny and it was only 2K more.

 

[swingirl]

I got a poorly cut 0.50ct for $1,000 in the NY diamond district in 1981. No report, obvious inclusions. The store is still in business by the same owner and today they sell GIA stones. 32 years later I know I could get a GIA 0.50ct for less than $1k.

That's why you see 60 year old women wearing 0.25 or 0.50ct stones and they think the've got a big expensive rock on their hands!!

 

[Tekate]

I wonder if mine isn't poorly cut.. it glitters and shines.. no fisheye but my appraisal said it was slightly shallow .. but i would really have to send it out to get a GIA report.. I had an opposite problem with my OEC first engagement ring.. I was told it was 1.25 carats when it was given to me in 74 but it was appraised and it was appraised at 1.50 carats, much much of the ring was below the line.. it was a lovely stone.. warm.. but after that (bad marriage I wanted a stone that glittered more and did not have such deep crown height, it was noticeable.. I really wasn't looking for a 'rock' but I wanted something that glittered more ... but I would bet there are tons of nice ladies my age with very wide .50 carats walking around thinking they have a big diamond

 

[kb1gra]

I have a .45 K/VS2 diamond that was bought in the NYC diamond district in 1970. Well, it's uncerted-- K/vs2 was the appraisal in the ring, which is worth too much sentimentally to destroy for a grading on a .45 diamond. My mother's first husband bought it for her engagement ring.

I believe it was several hundred dollars, even back then. It's probably not worth much more now, I think the appraised value was about $1200 last year, mostly due to gold prices. I seem to recall my mother saying that the diamond was quite expensive. When she met my father in 1981, he reused that diamond from the 1970 ring, as prices were so high that he couldn't afford to get her one as nice. That ring is the one I have now and can't bring myself to pull apart or change.