Due to recent events, it is no wonder if anyone should want to know how many diamond rings will cost today. With the lockdown because of the Covid-19 virus, many jewelers closed down their shops because the demand was just not there.
As the world slowly comes back as if from slumber and will operate under the new normal, how will the diamond industry, which has been struggling even before 2020 operate and put out prices moving forward?
Here are some things that you can consider when buying diamonds in the future.
Diamonds are Priced for Their Appeal
Needless to say, diamond prices are quite tricky to pin down. Their true value is really hard to determine. This is why you should focus more on the appeal and how it makes you feel.
If you want to try to determine the true value of the diamond, use the 4 C’s: cut, color, clarity, and carat. These things affect one another and add up to the closest estimate to the true value of the diamond.
But, of course, we still need to consider other factors like the process and the economic conditions. This is why to buy worth it, make a purchase that’s grounded on how it’s appealing.
The Rapaport Diamond Price Chart
This is a guide to pricing diamonds. They take the 4 C’s into consideration so that they can give a close estimate of the price.
But one thing to note about price charts is that it does not give a comprehensive assessment of the diamonds. This is a guide but by no means the only one you should follow.
You can still use this guide though to get a fair price on your diamonds if you’re selling some because it still reflects a good overview of the market price.
The Test of Time
It is projected that many jewelers and sellers will pump out excess diamonds for cheap in the coming six to twelve months because of the surplus.
This may be a good time to purchase a diamond if you are planning on using them on your rings and other jewelry. But you may want to proceed with caution if you’re thinking of investing in them since even before the pandemic hit, the industry has been challenging.
Ask any diamond expert and you will get a majority consensus that diamonds are really hard to pin a price on because of so many factors to consider.
But the good thing is that a diamond will always have a great value because of its beauty and appeal. So don’t hesitate to get one if you have the means and an opportunity presents itself.