Why do people keep asking me that? “Is this a good time to buy a diamond?” Seriously my dear, it is always a good time to buy a diamond! Especially if it is for a diamond engagement ring! What are you going to do, put off your proposal until a better time? And when exactly will that better time be? I for one have yet to master the whole predicting the future of diamond prices using a crystal ball thing. Heck I can’t even figure out the whole mirror mirror on the wall thing, and I’ve been trying to master that feat since childhood. Believe me, I’ve tried, I’ve really tried!
I suppose that I shouldn’t feel too bad about not being able to figure out when is the best time to buy a diamond, since the majority of sight holders at the last sight sale held by De Beers elected to reject their allotted parcels in what is most likely a protest of sorts, given the fact that the price of diamond rough is so high at the moment that many diamond producers have indicated that it is not profitable to polish diamonds at the moment. This is because the price of polished goods is too low right now, in comparison to the price of unpolished diamond rough.
So what does that mean exactly? Either the price of uncut diamond rough is too high, or the price of polished diamonds is too low. In either case, there is likely to be a price adjustment of some kind. But it seems to me that this is probably a great time to buy a diamond, because if the cost of diamond rough is too high for the cutters to feel justified in ceasing the production of polished goods, then we’re likely to see a shortage of polished diamonds, which will likely result in a price hike in the near future.
Or perhaps suppliers of diamond rough like De Beers will decrease their prices, so the price of polished diamonds can level off and then it will become profitable for diamond producers to polish diamonds again…
Sight Sales are held by De Beers and other companies about every five weeks, at which time we’ll see whether the Sight Holders reject their allotted parcels once again, or buy them and stuff them in their vault for a rainy day, or decide to fire up the cutting wheels again and start polishing diamonds. In the mean time, we’ve got a healthy supply of absolutely stunning Crafted by Infinity diamonds on hand for immediate delivery, because diamond cutter Paul Slegers saw this coming some time ago… Note to self, sneak into Paul’s office, steal his crystal ball. Maybe I can get the infamous jewel thief Doris Payne to help me with that.
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