2023 Diamond Prices: why now is the Best Time to Sell

In fact, De Beers had been increasing prices on its larger and more valuable diamonds throughout 2021. The current major increases on the smaller, less expensive stones can be understood as the rest of their inventory playing “catch up” to these higher prices. As inflationary pressures continue throughout the diamond marketplace and supply gets squeezed by geopolitical conflict, it’s possible that diamond prices may climb even higher. Though the average price hike by De Beers is roughly 8%, depending on the diamond, price inflation has varied from as low as around 5% to as much as 20% or more.

These factors, leading to a decrease in overall supply and an increase in overall demand, have been pushing the prices of diamonds on the secondary market ever higher. 1. Sellers are becoming more and more comfortable selling items online. As a result, there may never have been a better time to sell your pre-owned and unwanted diamond jewelry on the open market. In fact, bangkok condo for rent long term – bangkok.thaibounty.com – – bangkok.thaibounty.com – ever more people have been doing so with Worthy and have been reaping major benefits from it.

The pandemic and lockdowns cause more industries to turn to online solutions and individual sellers just as much. They are more willing to part with their diamond and luxury jewelry and use the money from their deal toward something that will serve them better. Looking into the financial details, selling jewelry has also become significantly more lucrative since 2020. During the first year of the pandemic, round cut diamonds in the 1 carat range sold for an average of $1,584. 3. Alternatively, sellers are looking for more ways to make money and selling jewelry can offer a quick and large payout, depending on the item. 2. Sellers are finding that their diamond jewelry is no longer suited to the more casual lifestyle we’ve come to recognize as the norm.

If you have been waiting for the best time to sell your diamond or diamond jewelry, now might be the ideal time. A combination of global political events, changes in the market, and the COVID-19 recovery are making recent and upcoming months a great time to sell a diamond and earn higher than average amounts. Here is a deeper look into some of the reasons why diamond prices are peaking right now.

According to insiders with knowledge of the situation, De Beers has raised its diamond prices this year by approximately 8% or so. Meanwhile, supply had remained roughly the same until the Russia-Ukraine conflict began squeezing the supply chains. While the most dramatic increases were for smaller and less expensive diamonds, price hikes could still be seen across the board. Economic pressures have been contributing to the rising prices of diamonds. This is not the first price hike we’ve seen as the world continues the pandemic recovery. As the world continues to dig itself out of the pandemic era, consumer demand for luxury goods – including diamond jewelry – has seen significant growth.

Signet is the owner of Kay Jewelers and Zales and the largest diamond retailer in the country. Some in the jewelry industry say there has been a true “buying frenzy” of uncut or rough diamonds. You can have a look at how Alrosa compares to the other top diamond companies in the world (and also see some of the biggest stones to come from Alrosa’s mines). Finally, the Alrosa mining company, which operates the major diamond mines in Russia, closed its US office and the president of Alrosa USA left the company. In direct response to this, De Beers has been aggressively raising the prices of its mined diamonds on the open marketplace.