The price of diamonds depends on many factors, including the 4Cs – Carat Weight, Cut, Color, and Clarity. The other contributing factors are Polish, Symmetry, fluorescence, and shape. When diamonds are sold in the wholesale market, marketers sell diamonds considering the per unit of weight, referred to as ‘per carat’. Always choose a certified diamond expert when you are selling loose diamonds in Miami. Diamond prices fluctuate several times in a year, and we concentrate on the major trends in diamonds here.
The key factors in diamond price change:
- The Economy is growing high across the world, and the demand for luxury goods is also increasing, which influences the price of diamonds.
- The mining of diamonds also declined, which eventually increased the price.
- Data also shows that over the past ten years, there is on an average of 4% of price rise every year. So, the price increases approximately 32-33%.
Are diamonds worth more now than 20 years ago?
If you are considering the price trends of diamonds, the diamond price index will help you understand how dramatic the change is. In 1960, the price of the diamond per carat was 2,700 U.S. dollars, which was increased to 29,650 U.S. dollars in 2015, more than ten-fold of the past price.
Do diamonds enhance their value over the years?
There is no significant change in its value. Rather, the vast majority of diamonds have decreased their value in the last few years. Only a small quantity of rare or colored diamonds keep their true value. When you choose diamonds for your investment, quality is a major factor to be concentrated on. To get the best value on selling loose diamonds in Miami, having knowledge of the price of diamonds will be helpful for you.
Is the price of diamonds going up?
The price of diamonds is increasing because of the supply shortage. If you are planning to buy or sell diamonds, you must check the recent price before vising a store.
Diamond is a rare gemstone that holds its value always, no matter how far the price goes. The demand for diamond jewelry pieces is growing at full pace, so fast so that the supply shortage has been felt. If you want to understand the market value of the diamond and how it has been over the past few years, you need to concentrate on the global diamond industry. It will give you clear knowledge.
These days, it is clearly visible that the growth of diamonds is not sufficient to meet the new demands. This is due to the slowdown of the mining process or the lack of finding new mines for diamonds. It affects the price of diamonds globally.
Polished diamond prices fluctuate more, and a range of factors influence that fluctuation. General economic ups and downs affect the price as it does for other commodities. Besides, traders’ expectations are another contributing factor in it. So, drawing a clear picture of price trends needs a complete analysis of affecting forces.
If you are checking the recent trends of diamond prices, you can easily find the rapid hike in the price. For instance, the diamond price in December 2021 gets a 2.3% increase from the price in November.
Fluctuation of diamond prices happens at a moderate. In 2018, August, the prices of diamonds got a sharp fall by an average of 12% compared to the price in January of the same year. The financial market collapse was the only reason behind this dramatic fall in the price. In 2011, the scenario was completely changed with the rapid increase of diamond prices by 20% because of the high demand.
You cannot ignore the external and internal forces that influence the price of diamonds. Diamond sizes also vary during mining. Different sizes also play an important role in price fluctuation. It has been overserved that the large size of diamonds has more price fluctuation compared to the smaller diamonds.
When you are trying to draw a clear thought about the price change, you cannot skip the role of De Beer in controlling the mining and trading of diamonds. De Beer is an international corporation, taking care of diamond mining, exploration, retail, and trading. The company has the power to control the market of rough diamonds. As the market price increases, the company also increases the supply of rough diamonds, which also increases the prices of polished diamonds.
Global diamond is another considering factor for diamond prices. In 2013, the diamond sale was estimated at $76 billion, which was higher than the sale in 2012. US and China are the biggest markets for polished diamonds. The demand is continually increasing, which also increases the price of diamonds. On the other hand, the price of rough diamonds fluctuates at a certain time of the year. The price of rough diamonds has not been changed much for the past few years.
Before selling loose diamonds in Miami, choose a certified diamond store to get the best value for your diamonds. When you are aware of influencing factors of diamond price change, you can determine the best time to sell your loose diamonds. Diamond Banc is a coveted diamond buyer and seller where you can get the most accurate way of valuing your diamonds. Please visit their website to know more.