NPD Group data also shows that falling diamond prices don’t necessarily help retailer margins
The article written by Rob Bates and quoting NPD's stats said it best, "it's something to pay attention to."
In the 20+ years I have been involved with lab grown diamonds, I see that there is a clear increase in the number of retailer inquires and consumers that are calling to find out where to purchase them.
The diamond mining company De Beers just released a report outlining the world buying and spending habits of diamond purchases. The information shows that U.S. consumers, mainly fueled by Millennial are buying diamonds and not the typical way you parents might have :). As I read through the report I wondered how many would purchase a Renaissance Created Diamond. Because, whether you call them man made diamonds, lab created diamonds, laboratory created diamonds or cultured diamonds (don't call them synthetic diamonds because they are not), they are certified, optically, physically and chemically the same. However they are typically 30-50% less money than mined colorless diamonds. And natural fancy pink diamonds that compare to our Renaissance Created Diamonds can sell for over a million dollars a carat. Now that is really value and an opportunity.
But where the two diamonds part ways are that Renaissance lab grown diamonds are sustainable, meaning they can be made without harming the environment or damaging Eco-systems which unfortunately is often the case with natural ones. Also, mined diamonds are associated with Blood Diamonds which can wreak havoc on whole countries and their population with war and famine.
Renaissance offers today's smart and savvy millennials a choice that saves them buckets of money and is an environmental wise decision. As the U.S. diamond market leads the world in consumption, Renaissance with their IGI Certified lab grown diamonds is poised to meet the growing interest and demand from shoppers from all age brackets and income.
Sales of diamond jewelry in the United States rose 5 percent in 2015 to hit a record $39 billion, according to De Beers’ latest data.
The numbers show that diamond acquisition rates remain high from millennials—a generation that is sometimes considered ambivalent about diamonds.
“It certainly looks like millennials are driving the increase in the U.S.,” says De Beers spokesperson David Johnson. “Their share of the market is much larger than the share of the population they represent. They are punching above their weight.”
Johnson says this shows that the demographic remains interested in diamonds, but “[we must make sure] that we connect with them in the right way.”
The United States remains the world’s largest market for diamond jewelry; its share of polished demand increased from 42 percent to 45 percent in 2015.
For the coming year, De Beers expects “positive but subdued” market growth, with the United States continuing to lead the way.
On a constant currency basis, global consumer demand for diamond jewelry grew by 2 percent last year. However, the strength of the U.S. dollar meant that overall global consumer demand for diamond jewelry sank 2 percent in dollar terms. It stands at $79 billion, a decline from 2014’s record $81 billion.
Demand in the major markets was mixed:
- The second largest diamond market—China (including Hong Kong and Macau)—saw 3 percent acquisition growth in local currency. China now accounts for 17 percent of the diamond jewelry market, up from 16 percent in 2014.
- Consumer demand in India fell 4 percent in local currency, thanks to a decline in consumer spending, driven by restricted credit.
- Japanese consumer demand was flat in local currency terms. The yen depreciation meant demand declined 13 percent in U.S. dollars.
- Demand in the gulf region fell 3 percent, with weak oil prices and lower visitors hurting growth.
(Photo by Objectif-photography)
At its sale held Tuesday in New York, Sotheby’s did not find a buyer for Shirley Temple’s 9.54-carat fancy deep blue diamond set on a platinum Art Deco-inspired band.
New York 4/19/16--Though big blue diamonds have been setting records in the auction world as of late, it looks like there’s one that will have to wait a little longer to find a buyer.
The 9.54-carat fancy deep blue, potentially internally flawless, VVS2 clarity diamond ring long owned by American child actress-turned-ambassador Shirley Temple failed to find a buyer when it hit the auction block Tuesday night at Sotheby’s New York.
The cushion-modified brilliant-cut diamond was estimated to garner between $25 million to $35 million.
The failed sale of Shirley Temple blue follows the sales of the 10.10-carat oval-shaped fancy vivid blue De Beers Millennium Jewel 4 ($31.8 million) and the record-breaking 12.03-carat fancy vivid Blue Moon diamond ($48.5 million) and precedes the offer of another astounding blue stone, the 14.62-carat fancy vivid Oppenheimer Blue, which some believe could eclipse the $48.5 million sale of the Blue Moon.
After the stone failed to find a buyer, Sotheby’s issued a statement about the sale: “The Shirley Temple Blue Diamond is an exceptional stone in quality, rarity and provenance. It has been an honor to share its story with collectors, connoisseurs and Temple’s loyal fans over the past few months. Unfortunately, tonight wasn’t its night in the salesroom, but we remain fully confident that it will find a buyer.”
Temple’s father bought the ring for her for $7,210 in early 1940 (the equivalent of about $125,000 today), around the time of her 12th birthday and the premiere of her film The Blue Bird.
When it announced the sale of the Shirley Temple diamond in March Sotheby’s said that the movie might have inspired his purchase of a blue diamond more than the stone’s perceived rarity or value, as colored diamonds were not as coveted at that time as they are in today’s market.
The ring stayed in Temple’s possession until her death in 2014 and was offered in its original Art Deco-inspired setting, flanked by four rows of baguette diamonds.
Originally posted on National Jeweler at http://www.nationaljeweler.com/fashion/jewelry-auc...
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