According to Bloomberg news, major retailers in the U.S. and China are buying aggressively to keep up with strong consumer sales. The issue is there is a great shortage in loose diamonds and prices will continue to rise while supply is down. Some prices have ballooned by over 10%. Cutters and polishers are competing fiercely for stones. “Interestingly, while round brilliant diamonds continue to lead the market with oval shapes as a close second, fancy shapes like emeralds, radiants and pears are gaining in popularity as well,” says Asaf Herskovitz, CEO GN Diamond.
“GN is focusing on buying the cleanest of rough to produce crisp, clean diamonds for retailers to easily sell,” said Asaf. “The brilliancy score that comes free with every certified diamond proves that our diamonds outshine others and help retailers compete with diamonds listed on various on-line sites. Supplying a retailer with data showing 3rd party light performance statistics is embraced by consumers and proves why one diamond outshines another. This facilitates the sale for our retail partners making the sales process easier and shorter. GN does not sell to on-line portals and remains dedicated to retail stores across the country.”
GN Diamond expects the market to continue to flourish with polished stones continuing to appreciate in value throughout the holiday season. “With this in mind, we are seeing retailers acting quicker than usual in buying and investing for the holiday,” he said. “The upcoming Vegas show will provide retailers with an excellent buying experience at a critical time to help boost holiday sales.”
GN Diamond has seen a major uptick in small and large retailers – that have never bought for stock before – buying now so they will not miss any diamond sale opportunities. “They are taking an educated risk of purchasing and replenishing fast sellers with the comfort of GN’s 100% Sell Through Guarantee on loose and finished diamonds and diamond jewelry.”