I am getting some wildly conflicting My diamond dealers
are saying that diamonds are selling pretty well in these hard times.
NJ Magazine just ran a headline about diamonds being the big thing
for 2009. I have actually sold more diamonds myself in the past 2
weeks than I usually do, so these messages seem to ring true.
BUT, Reuters News service reports that DeBeers just took out a 500
million dollar loan to get them through a slump in sales and NJ
Magazine also reports that GIA is laying off staff. This does not
sound to me like we are really in a boom market for diamonds.
Personally, I am a metals guy. I only care about diamonds because it
is part of the business. I don’t make that much on diamonds. The
internet discounters have made it impossible for me to be competitive
and make much of any profit for the risk and time it takes me to
arrange a sale. I personally think that other stone choices offer a
lot more for the money, both profit for me and value for the
customer. But diamonds are a big part of the culture and
unfortunately we need to be fluent in diamond speak to be taken
seriously as fine jewelers.
So I ask that collective font of wisdom that is Orchid, are diamond
sales really up? Or is it all smoke and mirrors by guys that want me
to sell diamonds and my own small up-tick in diamond sales is only a