Diamond prices hit one of their lowest points in 2008, with slow demand for both polished and rough diamonds. Along with other diamond jewellery sellers, though, Diamond Connoisseurs is seeing a faster than expected turnaround in demand.
Oxfordshire, England , 17 December, 2009 – Diamond Connoisseurs, an online diamond jewellery review and portal site, is seeing a faster than expected turnaround in diamond demand after prices hit one of their lowest points in recent memory.
After the financial crisis had made its full impact felt in late 2008, Robert Gannicott, CEO of a major Diamond jewellery retailer, said that the diamond market “disappeared”. DeBeers planned to lay off around a third of its 3,500 South African staff, citing low demand for luxury goods.
DeBeers is predicting a recovery in rough diamond prices by the end of 2010, mainly due to lowered production by the market’s big players. The lowered production was in response to a sharp drop in demand, however, prices may now be supported at both ends of the supply-demand scale.
Diamond Connoisseurs, a UK diamond jewellery sourcing portal, has seen good traffic figures in recent times. Since the global media began publishing on an end to the economic crisis, traffic has picked up even more according to site adminstrators.
The factors set to have the biggest impact on diamond jewellery demand, according to Robert Gannicott, include:
- Economic improvements in the US
- A “different sentiment” in the diamond market since March this year, compared with the previous quarter
- A deep fall in general global prices which help shore up companies’ bottom lines.
In a related positive move for diamond producers, a parallel trading agreement will be drawn up in Botswana aiming to provide an alternative to the current marketing arrangement with DeBeers and liberalise diamond price publication.
About Diamond Connoisseurs:
Diamond Connoisseurs weighs up the cut, colour, clarity and colour of a huge range of diamond stores and their collections for you.
- You’ll be delighted to find sources for diamond pendants for everyday wear that are within your budget, as well as unique pieces that have never graced a décolletage before.
- Diamond rings need to be sturdy as well as sweet and special – we bring you stores that sell the best.
- The cool luxury of a diamond necklace doesn’t need to blow your budget – we’ve assembled a range of stores that stock the inexpensive to the lavishly iridescent.
- Men are coming to love the glint of diamond jewellery, and the way it accents their features just as much as women, and we incorporate a special section for men’s diamond jewellery.
For those of you feeling overwhelmed by the science of a diamond, we also present all that you need to know in our Diamond Buyer’s Guide.
For more information please contact:
Liam Brandon
Marketing Manager
Diamond Connoisseurs
Email:[email protected]
Website: www.diamondconnoisseurs.co.uk
