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Author Topic: HUGE Spike in fine diamond pricing  (Read 1130 times)
Diamondsbylauren
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« on: May 23, 2008, 12:08:32 PM »
HI Everyone!

As many of you know, the prices of polished diamonds is greatly affected by an industry report, known as the Rapaport Diamond Report.
Well today, many of the more popular sizes and shapes went up as much as 25%!!!

For example- a 1.00 round G/VS1 went from $8300,  up to $8700 per carat.
Not all that large an increase...roughly 5%

How about something like a 5.00 D/VS1 round.
Now we're looking at an increase from $67,100 per carat ( or $355,500 for the stone) to $83,900pc ( or $419,500 for the stone) That's a full 25% increase!

WOW......
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David
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djm195
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« Reply #1 on: May 23, 2008, 12:27:27 PM »
Is that retail David or what wholesalers pay for resale?
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Diamondsbylauren
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« Reply #2 on: May 23, 2008, 12:45:34 PM »
Great question djm

The term "retail" is not specific.
That is to say, todayk, y ou could walk into Tiffany's- in which case the price would be quite a bit higher than the prices I mentioned.
In fact, even the bare bones internet "list" sellers might have to charge more than the prices I quoted.

Years ago, it was common practice for wholesale buyers and sellers to pay less than the "Rapaport" price.
Today, some diamonds trade higher than the list- at wholesale!
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David
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diamondjunkie
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« Reply #3 on: May 23, 2008, 01:01:34 PM »
Well I'll just go cry myself to sleep after this news, shall I.......... Bawling
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djm195
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« Reply #4 on: May 23, 2008, 01:04:54 PM »
Quote from: Diamondsbylauren on May 23, 2008, 12:45:34 PM

Years ago, it was common practice for wholesale buyers and sellers to pay less than the "Rapaport" price.
Today, some diamonds trade higher than the list- at wholesale!

So, what's the point of the Rapaport price if it isn't the standard? Sounds to me that everyone trades above the Rappaport price anyways.
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Diamondsbylauren
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« Reply #5 on: May 23, 2008, 01:23:50 PM »
Well, it's sort of a benchmark.
I just spoke to a few more people- and read some more of what was written on the report.


It's likely more of an attempt to "Adjust" for the increases over the past 12 months.
In other words, prices did not rise 25% since yesterday, rather it's an attempt to mirror the real price increases we've seen over the last year.

Sam Spade ( who I just spoke with) agrees.
It's likely that dealers will start to trade below the list again.
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David
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Trinkette
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« Reply #6 on: May 23, 2008, 03:05:08 PM »
David, I had recently read (somewhere, I'm sorry, I can't remember where) that this big price increase most effects high-end diamonds and collectable stones, but is not QUITE so noticable at the lower end of the scale.  Does this sound relatively accurate to you?
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Diamondsbylauren
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« Reply #7 on: May 23, 2008, 03:28:59 PM »
Absolutley Trinkette!

That's a great point.
For example- the aforementioned 5 carat D/VS1 - up 25%
5.00 D Internally Flawless- also up a whopping 25%

5.00 M Intenally Flawless? That's up "only" 10%
J/Si1 , in 1.00 sizes- up a modest 5%

There were no increases on any I1 diamonds- any shape size or color, for example.
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David
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Trinkette
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« Reply #8 on: May 23, 2008, 04:50:51 PM »
I KNEW I loved those J-colored stones for a reason!   devildance 

Still, having "just" 5 and 10 percent increases in such a short time is HUGE.  *SIGH* Reminds me of fuel... today it cost me $150 to fill up the truck with diesel (two fill-ups, each with a $75 limit), and I never even tripped the pump off – there was room for more. 

Gosh, pretty soon, I may be trading my pricier-by-the-moment diamonds for diesel! 1087
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GIAGirl
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« Reply #9 on: May 23, 2008, 11:38:10 PM »
Quote from: Diamondsbylauren on May 23, 2008, 12:08:32 PM


How about something like a 5.00 D/VS1 round.
Now we're looking at an increase from $67,100 per carat ( or $355,500 for the stone) to $83,900pc ( or $419,500 for the stone) That's a full 25% increase!


...AND I was JUST about to buy a 5.00 D/VS1.  Oh well.    LOL!!! 
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Mrs Mitchell
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« Reply #10 on: May 25, 2008, 04:29:09 PM »
Any size and shape going down in price?

If the answer to that question is 1 - 2ct ECs, can you call me? Grin

(I think I already know the answer to that one!)


Jen
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diamondjunkie
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« Reply #11 on: May 25, 2008, 04:40:52 PM »
Those drugs really have affected your brain Jen!  LOL!   Grin

However, if the answer is 'yes', call me right after Jen........
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Diamondsbylauren
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« Reply #12 on: May 26, 2008, 03:48:24 PM »
By the way, I probably should add that I believe that most of the increases in price have already taken place- and that the industry trade sheet is just playing "Catch up" with the real life situation.
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David
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GIAGirl
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« Reply #13 on: May 28, 2008, 01:25:19 AM »
Better tell my man to hurry up!!!!!!!!!!!!!  Things ain't gettin any cheaper.   
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Mikla
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« Reply #14 on: May 28, 2008, 08:05:14 AM »
Dear GiaGirl -

That's what I'm talking about!

 Evil Mikla
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GIAGirl
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« Reply #15 on: May 28, 2008, 11:08:07 PM »
I know!  Tell HIM that...PM me... I will give you his number.  Evil
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Mikla
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« Reply #16 on: June 02, 2008, 07:44:29 AM »
Dear GIAGirl -

Does he understand this is an investment, not just some shiny bauble?   Grin

Mikla
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red_hatter
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« Reply #17 on: June 25, 2008, 08:54:09 AM »
How does this factor into the DeBeers lawsuit and settlement? Is it possible that DeBeers is once again  price fixing and recouping their losses as it pertains  to the lawsuit and settlement? Any ideas?
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Diamondsbylauren
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« Reply #18 on: June 25, 2008, 11:24:00 AM »
The two things are entirely unrelated.
DeBeers has LESS influence on prices that they likey have ever had.
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David
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