Pricing for diamonds has always been varying. Their cost depends on a lot of factors and calculations. But one question in many people’s minds is that, are diamonds getting cheaper?
Over the years there have been many changes in the diamond industry. One of which is the emergence of cultured diamonds. This made diamonds more accessible and affordable for many.
Does the current global situation affect diamond prices? Will diamonds continue to be cheaper? What affects diamond pricing?
Things have always been rocky around this precious stone. Know more about how diamonds are being priced. Read below to see how the current situation affects the market.
Diamonds, Their Prices, and Their Fall
If diamonds are so popular, why are their prices fluctuating? Diamond value and price are more complicated than they seem. Several political and economic factors have affected diamond value in the past. This is ongoing until now.
Even before the world shut itself into lockdown, prices have begun dwindling. Mining controversies and political unrest in huge diamond markets are among the reasons.
Below are some major factors that contributed to diamond price fluctuation:
- Pro-democracy protests in Hong Kong
- Lessening Chinese diamond market
- Rise of cultured diamonds
- Closure of diamond shops amid lockdown
- Share-prices within diamond-mining companies
- Cancellation of sales events
Can People Look Forward to Cheaper Diamonds from Now On?
Even as diamonds have slashed their prices, they still have their own unique value. A diamond is being valued by its appeal. This is where the 4 cs come into the picture. This is the most used grading system for diamonds.
Diamond prices depend on:
- Carat weight
- Diamond shape
- Diamond clarity
- Diamond color
- Diamond cut
Cheaper diamonds are not as cheap a many would think. Even with shrinking prices, they are still valuable. It all depends on how the buyer gets a diamond that is at its best value.
If a customer wants a certain diamond but can’t afford it, there are other ways. One can look for a similar-looking diamond but at a cheaper rate. This is what many have been doing to get more affordable diamonds.
A Keen Eye on Diamond Beauty
When diamonds are being mounted, it’s hard to tell the difference. This is why some buy cheaper diamonds that look the same as the expensive ones. If you plan on investing in diamonds, work within your budget.
There are cheaper options in the market, but always get the ones with the best value. The market may be unstable. But diamonds continue to be one of the most preferred precious stones worldwide.