Looking to sell your diamonds or jewelry? For years now, consumers interested in recouping the value of their jewelry have focused squarely on gold, thanks to dramatic price gains that captured business headlin...
Diamond Prices Continue to Shine According to expertsOctober 28, 2014 - Diamond Articles
2013 – Diamond prices
NEW YORK, NY–(Marketwired – Mar 11, 2014) – Recent headlines about last year’s 30% drop in gold prices might highlight the end of the bullish “We Buy Gold” era. WP Diamonds, the consumer purchasing division of White Pine Trading LLC (“White Pine”), one of the world’s leading recycled diamond companies, argues that the comparatively strong demand for secondhand diamonds means consumers still have a great way to transform their jewelry into money.
“The volatility of gold, which had spiked to $1,800 an ounce a couple of years ago but is now off by almost a third, has attracted lots of media attention,” said Benjamin Burne, CEO of White Pine. “Less frequently discussed, however, is the traditional stability of diamond prices relative to asset classes like gold or stocks.”
Consumers interested in selling diamond engagement rings and other diamond jewelry should be encouraged by diamond prices relative to the sharp drop in gold. “Relatively speaking, diamond prices are higher than they were 5 or even 10 years ago,” Ben Burne said. “Consumers are waking up to this, which is why our WP Diamonds consumer purchasing division now receives more inquiries and buys more diamond jewelry than ever.” By leveraging the scale and reach of its global business network — made up of more than 1,000 diamond wholesalers, brokers,traders, manufacturers and retailers in over 10 countries — WP Diamonds is able to help consumers to get the best prices possible for their diamond jewelry.
“WP Diamonds helps consumers get the best possible prices for their diamonds and diamond jewelry.”
“While there is no universally accepted index for the value of second-hand diamonds, the industry consensus is that second-hand diamond prices have been stable and continue to hold their value,” said WP Diamonds General Manager Matthew Howe. “According to IDEX Online Research, new-to-market, polished diamonds held their value in 2013, and this is a good barometer for the value of aftermarket diamonds as well. Meanwhile, sales trends in retail jewelry continue to be encouraging. All in all, this spells great news for consumers who are interested in leveraging the value of their diamond jewelry.”
Ben Burne adds that diamond jewelry sellers need not be worried about the effects of gold-price volatility on the value of their pieces. “On average, gold represents about 3 percent of the value of the average piece we purchase,” he explains. “Thus, in many cases, the gold value represents substantially less than 3%. The disproportionate value of diamonds by weight, combined with the small amount of gold in most of these pieces, bolsters the value of diamond jewelry in general.”
The full article with graphics and more information can be found: here.