Diamond Prices - Increased by $3,000 in one month?

[WallaWalla3]

Does anyone have any hard evidence on the recent price increase or projections for 3ct cushion prices in the next few months/year?

I read the report and from everything I can discern, it looks like the price increases occured in the first half of 2010. I also can't find anything that says prices will go up EVEN MORE in the next few months?

http://www.diamonds.net/cms/PDFs/Price-Statement_Update_011811_V2

I'm starting to think that the vendor I've been using just jacked his price up by $3k in one month and accredited it to a price increase by the wholesaler (which may have been modest but not $3k!) - and is now asserting even more price increases because he knows I can't wait any longer to buy.

Does +$3k from the begining of December to mid-January seem like a realistic increase? Or am I getting duped?

Does anyone have any actual knowledge on larger carat stones wholesale prices and recent increases? Would you reccomend waiting? Or buy now even a the inflated price?

 

[Rhino]

Haha, swigertj! My hubby probably feels the same way!

Walla, I am not understanding the vendors reluctance to taking the stone back. If prices are stable or higher, he can resell it for what she paid or more. Plus, he makes some profit off of the new stone sale. Who is the vendor? I honestly have not heard of a vendor not readily honoring the trade-in policy.

In your case, yes, I'd buy before prices go any higher!

I was thinking the same thing. What kind of trade policy is that where the vendor places such stipulations that they are reluctant to take it back?

 

[Rockdiamond]

We've also found prices on small goods have gone up- significantly.
This will affect the prices of settings containing micro-pave work

In terms of trade up- John Pollard brings up a lot of good points about trade up policies. Sometimes they work out well for the seller- sometimes not- but an honest seller committed to customer satisfaction will honor their commitments.

Trade up policies are difficult to offer- and it takes a large, and costly commitment to carrying and stocking diamonds to be able to offer them.
Every trade up policy has restrictions- they are necessary to be able to offer such a policy in the first place- but if a consumer has a trade up in writing, and the seller balks, that blows, I agree. The sad truth is that there's probably not much the consumer can do. Of course posting such complaints here might be a way to get the seller to honor their commitment.

 

[John P]

Buckle your seat belts.

http://www.bloomberg.com/news/2011-...les-rose-48-last-year-rapaport-estimates.html

<< Demand may rise about 20 percent annually in India and China, accounting for half of global growth in the next few years, De Beers said Nov. 8. >>

This is not a surprise. Industry leaders have been feeling this shift for some time and Lawrence Ma publicly predicted that China might soon be driving the diamond market at the GIA Symposium over four years ago. It was mentioned on Pricescope back then by this John Quixote fellow.

https://www.pricescope.com/communit....50294/#post-746802?hilit=lawrence ma#p746802

 

[Dancing Fire]

i can never upgrade,b/c my diamond is stuck at 2004 price...

 

[Rockdiamond]

DF- may I suggest you discuss this with the vendor- it's just possible they might negotiate a more favorable trade up for you.
Sometimes a vendor will bend the rules to satisfy a good client.

 

[Dancing Fire]

DF- may I suggest you discuss this with the vendor- it's just possible they might negotiate a more favorable trade up for you.
Sometimes a vendor will bend the rules to satisfy a good client.

or wait for a big crash in the diamond market...

 

[LGK]

WallaWalla, everything you've posted about the vendor you're working with has sounded like you don't trust them much. That's a good sign to trust your gut, and maybe consider working with someone else. All vendors, unfortunately, are not created equal. Perhaps someone else will click better with you- it sounds like you have a bad taste in your mouth re: the price increase, and that's understandable.

If you haven't yet, you might try contacting Perry at Leon Mege's- he sources cushions for people pretty regularly and from what I've seen, has very good prices comparably to other popular PS vendors.

If starting over with someone else puts a hitch into your proposal time line, maybe consider proposing with an eternity band, or a lovely colored stone for her right hand, or something. Or postpone them. Just a thought.

 

[Matthewmon]

hmmm. i bought a .98 ct. princess cut from GOG a few months ago. I was going to wait a couple years before upgrading to a 1.3-1.4 because I'm saving for a down payment on a house. Would I be better off to upgrade the diamond now? thanks!

 

[kenny]

hmmm. i bought a .98 ct. princess cut from GOG a few months ago. I was going to wait a couple years before upgrading to a 1.3-1.4 because I'm saving for a down payment on a house. Would I be better off to upgrade the diamond now? thanks!

I think buying your first house ...
1. Is more important than a larger rock
2. May go up in price way more than a diamond would if you wait.

If this is a second, third or fourth house buy the rock.