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The diamond market experienced a major recovery in 2021 following a difficult year due to pandemic-related supply chain and retail disruptions. The economic boom following the stimulus and stock market highs allowed for growth across the jewelry sector, particularly in the diamond segment. India’s 2020 lockdown led to a severe supply decline in polished diamonds, raising the price of diamonds toward the end of that year. There was also a high demand for diamonds, which ultimately drove the prices up. 2021 saw a carryover from the previous year of an undersupplied market of both rough and polished diamonds.
That number increased by 32.5% in 2021 and has increased by another 7% in 2022, bringing the total price increase to 39.6%! Not only are you bound to get the best price on record for your diamond when you sell right now but you will also be helping the earth by returning diamonds to the market rather than causing more stress on the environment. And, as we like to say, that’s a win-win. If you are wondering whether now is the best time to sell your diamond, the answer is a resounding yes! You can see the chart below for the price increase on other types of diamonds. In addition, the sheer amount of diamonds being sold has increased significantly.
With Russian forces invading and attacking Ukraine since the end of February 2022, global and economic leaders have issued multiple sanctions against Russia in order to deter escalation. In reality, most stones mined in Russia are sent elsewhere for cutting and polishing and cannot be separated out from diamonds from another source. As part of that effort, President Biden banned the import of Russian diamonds into the United States. The diamond giant Signet took this approach one step further and told its suppliers it will no longer be buying diamonds or precious metals mined in Russia. This “banned import of Russian diamonds” is a bit complex, as it only works against rough stones mined in Russia or stones from elsewhere that are cut and polished in Russia.
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Of course, any Chevrolet could be dressed up with an outside sun shade, bumper wing tips, or a grille guard — and many were. Chevrolet started the season with 14 models in two body styles — notchback Styleline or fastback Fleetline — again in either Special or DeLuxe trim. Within the new curved “Safety-Sight” instrument panel, gauges were grouped in two circular clusters with non-glare lighting. Also on the safety side, “Jumbo-Drum” brakes demanded as much as 25-percent less pedal pressure and were promoted as the largest in the low-priced field. Control knobs sat below in a recessed panel.
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