An Important Message From Our Evaluation Team:
In late December and early January we started to see price drops for fancy cut diamonds (pear, princess, marquise, ovals, emerald cut, etc.) We waited for the round diamonds to be affected and it looks like there is a reduction there as well. We are expecting overall wholesale prices to drop about 20% over the next several months. Our price lists (rapnet, polygon, etc.) already show reductions in small increments but continue to follow the downward trend. Dealers have a surplus of inventory that they purchased at higher prices.
What This Means For You, Our Clients
This may result in lower offers because our dealers and buyers will not know where the bottom is. It could take a few months to find where the prices have settled.
It also means lower values those who have purchased diamonds in the past 5 to 8 years. This coupled with the lower price of gold and platinum will also result in overall lower prices.
If you have submitted an item for an estimation more than two weeks and did not ship your item and but now want to, we recommend that you submit the item for a re-estimation due to market changes.
The Good News
Higher quality diamonds that have a GIA color grading D-I, a clarity grading of SI1 or better have very little price drop. This also pertains to round cut diamonds between 1.50 ct – 5.00 ct.
Because we are in the secondary market more dealers will want to buy what we have to offer. We are truly in a key spot of being able to sell to wholesalers and still attracting competition.
Our team will continue to watch the market on a daily and weekly basis, providing full updates. They will be available for any questions you may have regarding this or any other matter.
Why Are We Sharing This With You?
One of our main commitments to our clients is transparency. We do everything in our power to transcend the difficulties that the marketplace presents all the while being entirely upfront with you. The last thing we want to do is disappoint or mislead our clients – you are most important! We will keep you updated of any changes and as always, uphold our no obligations policy if you choose not to complete a deal.