Prices going up, again!

[Lula]

To the poster who commented about ebay, they apparently have heard about the diamond increase as well. A few on there who are apparently drop shippers, as they have the same diamonds listed as on this website, have higher prices than what can be found here. Most of the average sellers are long gone, and the few who are left, have their diamonds listed at extremely high prices. The only exception is in the antique categories. But overall even on ebay, bargains are few and far between.

The antiques vendors have clearly cottoned on to these hikes - I haven't been finding any bargains lately, and I've been looking! And the private sellers of used goods all seem to be listing by the appraisal value lately

Ditto yssie -- the estate/antique sellers have caught the price increase bug, too.

I've been checking ebay regularly since March-April for vintage settings to replace my temporary setting that's too big for me. There are fewer and fewer quality estate and vintage settings listed - especially settings without stones -- so I'm wondering if people are just scrapping these more basic settings instead of listing them. The vintage/estate pieces set with diamonds have all gone up in price -- even outdated, poor-quality mass-merchandise settings, in 14 kt. yellow gold, which used to be available for peanuts. These still aren't selling -- I see the same ones listed over and over -- but you can also see where the sellers have turned down offers, so I guess these sellers are sticking to their guns, expecting the price increases to work in their favor, even on the cr*p.

The prices of decent estate/vintage pieces has been steadily increasing, including pieces that need work! And on the auctions I've been watching, there are several bidders, so the prices get bid up pretty quick.

I asked my local jeweler to price out a few stock settings for me, and the quotes I got back made a custom solitaire from Leon look like a bargain. It's nuts. I'm not sure what I'm going to do -- keep looking on ebay and Craigslist and hope there are still a few sellers out there who aren't following the diamond/metals markets, I guess! It's really made me rethink several jewelry projects. I'd rather spend the money on travel.

 

[kenny]

I remember mentioning once here that if retail prices go up used prices will too.
I think I got shot down by more than one poster.

 

[Amys Bling]

Ditto Lula- I've been dreaming of an asscher but if when it comes time to but- and the prices are through the roof I may have to just plan a trip instead.

 

[Amys Bling]

I remember mentioning once here that if retail prices go up used prices will too.
I think I got shot down by more than one poster.

You tell them kenny

 

[Lula]

I remember mentioning once here that if retail prices go up used prices will too.
I think I got shot down by more than one poster.

Chomp, chomp -- that's the sound of me eating my words if I was one of those "doubting posters"!

Seriously, though, the people on ebay listing 14 kt. yellow gold, mass-merchandise settings with crummy sidestones (lots of 1980s cluster-baguettes designs) can raise their starting and buy-it-now prices, but that doesn't mean they will sell...at least I hope things aren't that bad! What concerns me more is the fact that there used to be a large difference in price between the quality stuff and the crap, and that's disappearing, so as sellers learn about the increase in both metals and diamond prices, they are less willing to negotiate. And that means if you're looking for pieces to recycle into new pieces, there's no assurance you'll save any money doing it that way.

 

[yssie]

I remember mentioning once here that if retail prices go up used prices will too.
I think I got shot down by more than one poster.

Chomp, chomp -- that's the sound of me eating my words if I was one of those "doubting posters"!

Seriously, though, the people on ebay listing 14 kt. yellow gold, mass-merchandise settings with crummy sidestones (lots of 1980s cluster-baguettes designs) can raise their starting and buy-it-now prices, but that doesn't mean they will sell...at least I hope things aren't that bad! What concerns me more is the fact that there used to be a large difference in price between the quality stuff and the crap, and that's disappearing, so as sellers learn about the increase in both metals and diamond prices, they are less willing to negotiate. And that means if you're looking for pieces to recycle into new pieces, there's no assurance you'll save any money doing it that way.

.. and to add to that, on a couple of recent quotes for random projects the setting outside stone fees were - well, rather higher than I'd been expecting, given prior experiences. In terms of materials + fees the window on savings with custom work on separates seems to be closing quickly as well!

My bracelet project will be my last big diamond one for a while, I know. Already what seemed like a fair deal for the stones at the time now looks like an unbelievable bargain - and this was just weeks ago!

 

[Lula]

I remember mentioning once here that if retail prices go up used prices will too.
I think I got shot down by more than one poster.

Chomp, chomp -- that's the sound of me eating my words if I was one of those "doubting posters"!

Seriously, though, the people on ebay listing 14 kt. yellow gold, mass-merchandise settings with crummy sidestones (lots of 1980s cluster-baguettes designs) can raise their starting and buy-it-now prices, but that doesn't mean they will sell...at least I hope things aren't that bad! What concerns me more is the fact that there used to be a large difference in price between the quality stuff and the crap, and that's disappearing, so as sellers learn about the increase in both metals and diamond prices, they are less willing to negotiate. And that means if you're looking for pieces to recycle into new pieces, there's no assurance you'll save any money doing it that way.

.. and to add to that, on a couple of recent quotes for random projects the setting outside stone fees were - well, rather higher than I'd been expecting, given prior experiences. In terms of materials + fees the window on savings with custom work on separates seems to be closing quickly as well!

My bracelet project will be my last big diamond one for a while, I know. Already what seemed like a fair deal for the stones at the time now looks like an unbelievable bargain - and this was just weeks ago!

Yes, the cost of labor has gone up, too. That's what's really disheartening -- the price increases have hit metal, diamonds, labor, and the antique/vintage market -- all in a very short period of time. It would be different if just one or two of these were going up in price -- most of us could juggle the budget to make it work. But when everything is rapidly increasing in price, it puts the cost of even a simple project into the stratosphere compared to what it would have been six months or a year ago. For example, if I reset my diamond into a vintage platinum setting, that means I need to get a new wedding band, and the cost of even a simple platinum band is a lot more than it was a year ago. Again, even vintage bands on ebay have gone up considerably.

All the little "extras" -- new wedding band, sizing fee, repairs, etc. -- really add up!

 

[MissGotRocks]

Appraisals should probably be done on jewelry covered by insurance. I'm sure if we lost or damaged a stone we'd be very surprised to learn that we might not be able to cover our losses with like kind.

Scary, huh? I know I've been over insured for awhile but now not so sure!

 

[Amys Bling]

Appraisals should probably be done on jewelry covered by insurance. I'm sure if we lost or damaged a stone we'd be very surprised to learn that we might not be able to cover our losses with like kind.

Scary, huh? I know I've been over insured for awhile but now not so sure!

I was just thinking that myself- a year ago I was over insured, now I might be teetering the line of not being insured enough to replace with a comparable ring!

 

[stlc]

I remember mentioning once here that if retail prices go up used prices will too.
I think I got shot down by more than one poster.

Chomp, chomp -- that's the sound of me eating my words if I was one of those "doubting posters"!

Seriously, though, the people on ebay listing 14 kt. yellow gold, mass-merchandise settings with crummy sidestones (lots of 1980s cluster-baguettes designs) can raise their starting and buy-it-now prices, but that doesn't mean they will sell...at least I hope things aren't that bad! What concerns me more is the fact that there used to be a large difference in price between the quality stuff and the crap, and that's disappearing, so as sellers learn about the increase in both metals and diamond prices, they are less willing to negotiate. And that means if you're looking for pieces to recycle into new pieces, there's no assurance you'll save any money doing it that way.

.. and to add to that, on a couple of recent quotes for random projects the setting outside stone fees were - well, rather higher than I'd been expecting, given prior experiences. In terms of materials + fees the window on savings with custom work on separates seems to be closing quickly as well!

My bracelet project will be my last big diamond one for a while, I know. Already what seemed like a fair deal for the stones at the time now looks like an unbelievable bargain - and this was just weeks ago!

Yes, the cost of labor has gone up, too. That's what's really disheartening -- the price increases have hit metal, diamonds, labor, and the antique/vintage market -- all in a very short period of time. It would be different if just one or two of these were going up in price -- most of us could juggle the budget to make it work. But when everything is rapidly increasing in price, it puts the cost of even a simple project into the stratosphere compared to what it would have been six months or a year ago. For example, if I reset my diamond into a vintage platinum setting, that means I need to get a new wedding band, and the cost of even a simple platinum band is a lot more than it was a year ago. Again, even vintage bands on ebay have gone up considerably.

All the little "extras" -- new wedding band, sizing fee, repairs, etc. -- really add up!

Yep, and it has totally killed me and my FI plans on a custom made ring.
Designed, came up with the final drawing and then got a quote back yesterday and it was just so seriously high, just soooo not what we can afford now as a young couple, no prob when youre in your 30's and have been working for awhile but not in your early, middle 20's.
You ask yourself, where is the price coming in?
The melee?
The labour?
The filigree?
The gold?
Well I guess now its ALL of it

(side comment: Have absolutely no idea what to really do as I think the time has passed, we are in the High Price storm until it decides to pass, which I have no idea if it even will as the world doesn't really seem to adjust down very easily, they go up no prob but once they hit a certain level its very very rare to go down again).

 

[TristanC]

A new market has opened up. China is not going to slow down for a long while, and before it does, India might be the next market that diamonds will penetrate in significant quantities.

I think 1-2 years ago, the ongoing financial crisis buffered the diamond and jewellery price increases significantly. I am looking back with hindsight, as I never realised that it was that volatile.

I always thought that with the diamond cartel in place, and the ongoing stockpiles of diamonds available, this hike was a long day coming... guess the burgeoning asian wealth market is putting a lot of demand pressure so the cartels feel ok to up prices.

 

[Dreamer_D]

The insurance issue hit home, and thanks to Lula for posting a thread on it. I have been overinsured to the tune of close to 50% by choice to avoid frequent appraisals. Just checked the price to replace my stone with identical like kind and quality (BGD signature H&A) and discovered I am now not covered! I bought my stone for $10995 in May 2010. To replace would cost me $16300 today

 

[yssie]

The insurance issue hit home, and thanks to Lula for posting a thread on it. I have been overinsured to the tune of close to 50% by choice to avoid frequent appraisals. Just checked the price to replace my stone with identical like kind and quality (BGD signature H&A) and discovered I am now not covered! I bought my stone for $10995 in May 2010. To replace would cost me $16300 today

I just checked... I am still fully covered - larger SI Js don't seem to have seen that stratospheric jump yet. Yet being the operative word I suppose.

 

[Dreamer_D]

The insurance issue hit home, and thanks to Lula for posting a thread on it. I have been overinsured to the tune of close to 50% by choice to avoid frequent appraisals. Just checked the price to replace my stone with identical like kind and quality (BGD signature H&A) and discovered I am now not covered! I bought my stone for $10995 in May 2010. To replace would cost me $16300 today

I just checked... I am still fully covered - larger SI Js don't seem to have seen that stratospheric jump yet. Yet being the operative word I suppose.

Honestly it is so hard to fathom. I know we all keep talking about this, but I am so shocked! Yssie would you still have upgraded if you were looking to do so today? I would not.

 

[yssie]

Oh, absolutely not.

It would be even harder to justify, knowing how much more I could've got last year - I definitely think there is some comfort in being a new buyer who knows that 'things were cheaper back then' but doesn't have that concrete knowledge that a 1.66 BGD branded J VS1 is over half again as expensive as it was last year.

 

[Texas Leaguer]

Just thought I would throw in here. Most have already stated the obvious, with some real life examples from very observant "stalkers".
The industry is experiencing dramatic price increases, and from all accounts it seems like no end in sight. It really puts alot of pressure both on consumers and on businesses trying to figure out how to respond to new and newer normals.

As mentioned by here by a couple of posters many businesses (including ours) have tried to moderate the impact on consumers by sacrificing some or all of the appreciation of their inventory to soften the blow to buyers who have been deliberating during these increases by holding prices when possible. But the ability to do that will be shortlived as ultimately we are all at the mercy of replacement cost.

With metal prices continuing to rise and melee prices about DOUBLE what they were just a year ago, there is a magnifying effect on total price of the finished piece. You wonder when a whole portion of the market will simply be priced out.

It is therefore suprising to me considering the current economic conditions and despite these major price increases, that business remains really good. Although we have not seen clear trends yet, we are expecting to start seeing some "trading down" like we did in 2009. The former one carat customer goes to the .70s and the former fancy pave customer goes for a solitaire. There are ways to manage, but it is a challenge for all of us.

 

[dmd4ever]

Oh, absolutely not.

It would be even harder to justify, knowing how much more I could've got last year - I definitely think there is some comfort in being a new buyer who knows that 'things were cheaper back then' but doesn't have that concrete knowledge that a 1.66 BGD branded J VS1 is over half again as expensive as it was last year.

Really sucks for people like me who began looking last year (see my earliest threads) and then came back on the scene just recently. It is so frustrating to know how much money I could have saved.... And now to see the prices going up even more???

 

[Lula]

Just thought I would throw in here. Most have already stated the obvious, with some real life examples from very observant "stalkers".
The industry is experiencing dramatic price increases, and from all accounts it seems like no end in sight. It really puts alot of pressure both on consumers and on businesses trying to figure out how to respond to new and newer normals.

As mentioned by here by a couple of posters many businesses (including ours) have tried to moderate the impact on consumers by sacrificing some or all of the appreciation of their inventory to soften the blow to buyers who have been deliberating during these increases by holding prices when possible. But the ability to do that will be shortlived as ultimately we are all at the mercy of replacement cost.

With metal prices continuing to rise and melee prices about DOUBLE what they were just a year ago, there is a magnifying effect on total price of the finished piece. You wonder when a whole portion of the market will simply be priced out.

It is therefore suprising to me considering the current economic conditions and despite these major price increases, that business remains really good. Although we have not seen clear trends yet, we are expecting to start seeing some "trading down" like we did in 2009. The former one carat customer goes to the .70s and the former fancy pave customer goes for a solitaire. There are ways to manage, but it is a challenge for all of us.

I have been wondering this, too. I do expect to see more traditional solitaires and fewer halo/pave settings on SMTB!

 

[ededdeddy]

I went ahead and pulled the trigger on a stone today. Thankfully the price had not gone up, it was an L color though but I am sure the ones on the lower side of the color scale will increase soon enough.

This might be a silly question but are branded cuts going to have the same price increases as well? They already have a 20-50% markup from non branded cuts, but I guess that doesn't matter.

I think I'm in the same boat as the other poster who said they will be sticking with colored stones for awhile. That and argentinum silver for me too!

 

[weddedbliss]

Hmm. So prices go up rapidly, some people buy in a panic thinking they will go up even more, and they do for a time. (Then, all of a sudden, it goes back down). That story sounds familiar I know metals (gold) have had bubbles in the past, just like the housing market. Does anyone know if diamonds have had a bubble, and will it collapse?

 

[TristanC]

I doubt diamond bubbles will collapse in a rising market, the only problem might occur if they were held as a liquid commodity that people wish to divest ahead of financial reversals and a threatening prolonged slump in consumer confidence and economy.

Still, diamonds are held by effectively half of the population of diamond loving regions of the world. The good news is that cartels are still somewhat in control of the diamond supply, so they can moderate a little bit in demand slumps.

The article "Have you ever tried to sell a diamond" ends at 1982, but as anyone can see, the market hasn't collapsed, and has indeed grown since then - although not solely enriching the de beers group.

 

[wreckem]

Hmm. So prices go up rapidly, some people buy in a panic thinking they will go up even more, and they do for a time. (Then, all of a sudden, it goes back down). That story sounds familiar I know metals (gold) have had bubbles in the past, just like the housing market. Does anyone know if diamonds have had a bubble, and will it collapse?

When supply is higher than demand, prices go up. The two largest countries in the world have ever growing wealth. Diamond prices are going up and will continue to go up for the foreseeable future because of demand in emerging markets. This isn't the highest diamonds have ever been. I also don't believe it is a bubble. Its demand in emerging markets and a seriously weak dollar.

If you are betting on waiting for diamond prices to go down, its a losing bet unless China and India collapse and the US dollar magically recovers.

 

[Amys Bling]

3 months ago I was eyeing a stacking ring (blue topaz and diamond) on IDJewelry for 450. It's now 650!!!!! Ouch

 

[Amys Bling]

Imagine the impact on RT and SMTB threads. It can be a very different place- more EGL, smaller stones, less purchasing.

 

[Dreamer_D]

Even if it is a bubble, the bubble might take years to burst. Do you want to wait that long to buy a diamond? It is not like homes, you can't rent while you wait

 

[AGBF]

Buy em off Ebay and get them recut. Still plenty of bargains there.

Sheesh! I was wondering if it was finally time when one could resell a diamond, but I guess not! Too bad. I'd be willing to unload a few if I could get back what I paid. And if prices have actually gone up several times and it's not all hype one would think I could do that. My diamonds have hardly been touched, after all. But somehow I know that if I were to try to resell them, I'd get half of what I spent. Years ago. I wonder what that means?

Deb/AGBF

 

[luckky]

Even if it is a bubble, the bubble might take years to burst. Do you want to wait that long to buy a diamond? It is not like homes, you can't rent while you wait

unless you are not in the hurry in the market right now, just buy it in your collection or what so ever and you can wait years as Dreamer_D said, then wait till bubble burst like lots of people save up and buy a house now when it hit the bottom but I doubt it...will be like the housing market Cheer!!!

 

[yssie]

Buy em off Ebay and get them recut. Still plenty of bargains there.

Sheesh! I was wondering if it was finally time when one could resell a diamond, but I guess not! Too bad. I'd be willing to unload a few if I could get back what I paid. And if prices have actually gone up several times and it's not all hype one would think I could do that. My diamonds have hardly been touched, after all. But somehow I know that if I were to try to resell them, I'd get half of what I spent. Years ago. I wonder what that means?

Deb/AGBF

Judging by what used pieces are listed for (and are going for) on ebay... I wouldn't be so sure of that, Deb. I think right now you'd get more than you might imagine, esp for a nice stone w/ a decent pedigree, with people clamouring to buy before prices go up even more and finally taking notice of the used market... good for sellers, bad for other buyers!

I can't believe I'm saying that.

 

[TristanC]

Deb if your sentiment is real about losing some of your best friends, you might just try posting a few teaser specs and pictures with the cert information. I think you might be pleasantly suprised that more than one person might be willing to give you a good price for it.

 

[Cehrabehra]

At this rate, I may soon be able to sell my stone resale for what I paid for it... Of course I then couldnt afford to replace it lol