They say “Diamonds are girl’s best friend” but in times of need, will they be enough?
Diamonds are precious stones made form pure carbon. Sometimes they are clear while some come in other colors.
Most women enjoy having diamonds and it is even a dream come true for them to have one because of its physical attributes. But, more than the beauty that these sparkling glittery pieces possess they are also seen as a form of investment to others.
Why people invest in diamonds?
The expensive value of diamonds makes the public interested to invest in these gem stones. Aside from this, here are some possible reasons why people prefer to invest in diamonds:
- It’s worth is astounding
Whenever you see diamonds, they are so small and you can even keep them in your pocket but despite their size their worth is almost congruent to a house and lot price.
- Composition
Diamonds are one of the hardest substance on earth so even though you suddenly drop them, it won’t break and the monetary value is still the same.
- You can use it
Another good thing with diamonds is that, you can use them while you have them as an investment because there is no such thing as “second hand” when it comes to diamonds.
However, in today’s market do diamonds still fetch a good price?
In an article published by CNBC, Ernie Blom,, President of the World Federation of Diamond Bourses, said that the diamond industry is facing a tough time. He described this situation in the industry as being “battered by a perfect storm,” According to Blom, the problems in the industry range from the decreased in manufacturing profits, lack of liquidity in the markets and the general criticism in the diamond industry. Before, the price points of diamonds stood between $100,000-$250,000 but not at the moment.
One example that the diamond industry is having a tough time is from the experience of Lucara, a Canadian diamond exploration and mining company, where its Lesedi La Rona, the second largest diamond ever discovered in a hundred years, was only offered $61 million – not even enough to meet its $70 million price when it was acquired.
Given that bit of sad news, what’s one to do during a market situation like this?
Keep your diamond…for now. While diamond prices are not at their highest at the moment, the value of your jewelry does not decrease but in fact increases with age.
Keep it pristine. Go ahead, wear it to town – but always be careful when handling, or wearing it. The value of your jewelry isn’t just determined by the market rate, but its quality and condition too.
Keep watching the market. There will be highs and lows when it comes to diamond or even gold prices. Monitor the rates so when the time comes and you will need to sell it, you won’t be surprised at your jewelry’s appraisal.
On the other hand, if there’s a need to sell your diamond jewelry at a time when the diamond prices are not as high, then make sure to choose a jewelry buyer who can see the real value of your diamond and will do the research to find the correct appraisal of your piece.