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WSJ: De Beers does a desperate price cut of 10-15%
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Date: January 5th, 2025 2:57 PM Author: ''"'''"''"' Lab-grown diamond prices are declining because the cost of manufacturing them keeps coming down, but weak demand is largely to blame for declining natural-diamond prices. It has been bad enough that Anglo American-owned De Beers, one of the world’s largest diamond miners, reduced its rough diamond prices by 10% to 15% at its December sale, according to industry publication Rapaport News. Industry watchers say it is rare for De Beers to cut its own pricing. Botswana, one of the top producers of diamonds, is projecting that the country’s economy could contract by 1.7% due to the downturn in diamond sales, according to Reuters. (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48520875) |
Date: January 5th, 2025 2:58 PM Author: Bill DaWall do people really still buy diamonds (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48520876) |
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Date: January 5th, 2025 3:23 PM Author: smug lib law dorks Apparently I assume that, like with art, there is a lot of money laundering and asset movement going on in the trade. That said I don't know anyone my age who is shopping for or even interested in a traditional diamond engagement/wedding ring |
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Date: January 5th, 2025 3:33 PM Author: Bobbum Man Bought a diamond bracelet for my sugar baby for Xmas. "Marked down" like 70% lol (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48520993) |
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Date: January 5th, 2025 2:58 PM Author: ''"'''"''"' Consumers in the U.S., the largest diamond market, are happily opting for bigger and cheaper lab-grown diamond options over mined ones. Natural-diamond jewelry sales in the U.S. declined 0.7% through November compared with a year earlier, while lab-grown diamond-jewelry sales rose 12.5%, according to industry analyst Edahn Golan.
In a 2024 survey of U.S. consumers by the Knot, an online wedding-planning platform, more than half of respondents said their engagement rings featured a lab-grown diamond as a center stone, up from 46% in 2023 and 12% in 2019. Lab-grown diamonds have nearly the same chemical, optical and physical properties as natural diamonds, which means the naked eye can’t detect any differences, according to the Gemological Institute of America. |
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Date: January 5th, 2025 2:59 PM Author: ''"'''"''"' At the moment, retailers have a strong incentive to sell lab-grown diamonds over mined ones. In an earnings call in early December, Signet Jewelers said the costs of manufacturing lab-grown diamonds are coming down faster than the retail price of lab-grown diamond jewelry. The fast-declining cost of manufacturing lab diamonds means manufacturers can hold decent margins at lower prices, and so can retailers. The cheaper price range opens up a whole new pool of customers—both those who previously wouldn’t have bought diamond engagement rings and those who can now consider buying diamond-studded fashion jewelry. (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48520880) |
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Date: January 5th, 2025 3:02 PM Author: ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, that is one monopoly that has been hard to undermine. would love to see lab-mades erode the monopoly. (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48520887) |
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Date: January 5th, 2025 3:06 PM Author: ''"'''"''"' De Beers Group has amassed its biggest stockpile of diamonds since the 2008 financial crisis, laying bare the group’s challenge in reviving demand for jewels long seen as the pinnacle of luxury.
The scale of the stockpile, which has not been previously reported, has hovered around the $2bn mark for much of the year, according to the company.
“It’s been a bad year for rough diamond sales,” said chief executive Al Cook.
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Date: January 5th, 2025 3:07 PM Author: Just your average poaster I am short SIG (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48520894) |
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Date: January 5th, 2025 3:10 PM Author: ........,,,,,,......,.,.,.,,,,,,,,,, I did not drop big money on a diamond engagement ring because it seems like the writing is on the wall that this shit is going to zero (or near zero).
I'm surprised its taken thi long but it seems like the dam might be bursting. |
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Date: January 5th, 2025 3:12 PM Author: ''"'''"''"' That race to the bottom could eventually fulfill De Beers’ hope of making lab-grown diamonds so cheap that they become a completely different category. Theoretically, if retail margins on lab-grown diamonds fall to natural-diamond levels, the price of a high-quality 1-carat lab diamond could retail for as low as $275, Zimnisky notes. That compares with about $4,200 for an equivalent natural diamond.
So far, though, younger Americans seem perfectly content with buying lab-grown diamond engagement rings and retailers are happy to offer higher carat sizes. Declining natural-diamond prices haven’t done much to bolster the pitch for the stone as a value-bearing asset, either. |
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Date: January 5th, 2025 3:24 PM Author: smug lib law dorks It's possible (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48520947) |
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Date: January 5th, 2025 3:20 PM Author: ''"'''"''"' McKinsey believes three scenarios could unfold:
Given these points, a few scenarios could come to pass. First, LGDs could take over the majority of the market outside niche luxury segments, similar to collecting classic cars or luxury vintage items. Second, the price of LGDs could drop so low they effectively become fashion accessories that no longer compete with diamonds. Related to this point, assuming consumers cannot tell the difference between natural stones and LGDs, all diamonds could simply go out of fashion, lose their appeal, and are no longer seen as a must-have for engagement rings.
https://www.mckinsey.com/industries/metals-and-mining/our-insights/the-diamond-industry-is-at-an-inflection-point |
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Date: January 5th, 2025 3:31 PM Author: ........,,,,,,......,.,.,.,,,,,,,,,, The classic car / vintage argument has some huge flaws in it:
1. A classic car looks expensive. If you can't tell an in instagram post which is lab grown and which is not, it doesn't matter.
2. Vintage items are second-market and rare. Aren't "used" diamonds already available and at a significant discount? And how does it help DeBeers if people start buying vintage diamonds?
3. Usually in these scenarios a product will advertise itself as "handcarted" or made by "artisans." Diamonds are historically mined by child slaves. It's a hard story to tell. |
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Date: January 5th, 2025 3:37 PM Author: ;..........,,,...,,.;.,,...,,,;.;. Case In Point masterman (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48521014) |
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Date: January 5th, 2025 4:55 PM Author: peeface three seems inevitable. diamonds are worthless aside from signaling. if no one can tell them from trash without an electron microscope, what's the point?
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Date: January 5th, 2025 3:34 PM Author: Jizzy Gillespie Damn I hope these upstanding Jews land on their feet (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48521005) |
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Date: January 5th, 2025 3:36 PM Author: .,.,,.,..,,..,..,..,....,,...,. (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48521011) |
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Date: January 5th, 2025 3:39 PM Author: Taylor Swift is not a hobby she is a lifestyle (πΊπΈ π΅π±) (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48521026) |
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Date: January 5th, 2025 4:32 PM Author: jag (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48521178) |
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Date: January 6th, 2025 11:57 AM Author: Adrian Dittman (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48523596) |
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Date: January 5th, 2025 3:37 PM Author: .,.,,.,..,,..,..,..,....,,...,. anudda shoah (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48521013) |
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Date: January 5th, 2025 4:41 PM Author: .,.,...,..,.,.,:,,:,...,:::,...,:,.,.:..:. I can’t believe there are people still buying natural diamonds. This is the most powergoy move in human history. (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48521218) |
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Date: January 5th, 2025 8:45 PM Author: Kenneth Play (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48522149) |
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Date: January 5th, 2025 8:46 PM Author: ak "anglo american owned" lol (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48522156) |
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Date: January 5th, 2025 8:48 PM Author: Ass Sunstein (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48522159) |
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Date: January 6th, 2025 11:57 AM Author: Adrian Dittman (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48523601) |
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Date: January 5th, 2025 8:49 PM Author: office towers 50% off? Why would you need 30% off? Alright I'm losing money but here's your diamond for 10% off! (http://www.autoadmit.com/thread.php?thread_id=5659478&forum_id=2Elisa#48522163) |