Diamonds - Prices Crashing?

[taiwan_girl]

One of the world’s most popular types of rough diamonds has plunged into a pricing free fall, as an increasing number of Americans choose engagement rings made from lab-grown stones instead.

Diamond demand across the board has weakened after the pandemic, as consumers splash out again on travel and experiences, while economic headwinds eat into luxury spending. However, the kinds of stones that go into the cheaper one- or two-carat solitaire bridal rings popular in the US have experienced far sharper price drops than the rest of the market.

The reason, according to industry insiders, is soaring demand for lab-grown stones. The synthetic diamond industry has paid special attention to this category, where consumers are especially price-sensitive, and the efforts are now paying off in the world’s biggest diamond buyer.

https://www.dcla.com.au/news/diamond-prices-are-in-free-fall-in-one-key-corner-of-the-market/

[Horace]

Couldn't happen to a nicer industry, using nicer marketing to nicer human tendencies.

[Mik]

Isn't that the truth.

[Jolly]

Yep, those two carat solitaires bought by the unwashed masses.

I'm sorry, but I have no sympathy for the entire bridal industry. It's a ripoff, driven by spoon-feeding Modern Bride to little girls from the time they can turn a page.

[jon-nyc]

The diamond cartel is its own special evil.