Lab-grown diamond prices reduced! ! !

Has the price of lab-grown diamonds dropped?

Behind the decline in the rough diamond price index is the overall decline in the market. At the first rough diamond viewing meeting in 2024, the international diamond giant De Beers Group also began to implement one of the most powerful price reduction strategies in recent years.

According to multiple sources, the price of rough diamonds above 2 carats has been reduced by more than 15%; the average price of rough diamonds between 0.75 and 2 carats has been reduced by 10% to 15%; the prices of rough diamonds below 0.75 carats have been reduced by 5% to 10%; the comprehensive price reduction has been approximately 10%.

Not only that, the price reduction of first-class diamonds has reached 25%. The so-called Type 1 diamond is a product called "selected workable diamonds", which weigh between 2 and 4 carats and can be cut into high-quality diamonds about half the size of rough diamonds after polishing.

As a professional diamond practitioner, I can’t help but lament the profound impact of this price fluctuation. Not long ago, multiple sources revealed that the price of rough diamonds over 2 carats on the market fell by as much as 15%, while the prices of rough diamonds under 0.75 carats also dropped by 5% to 10%. Taken together, the overall price reduction Reached about 10%. Such price fluctuations are undoubtedly a huge impact on the entire market, but in my opinion, this may be an opportunity for the cultivated diamond market.

From an economic perspective, falling prices may indicate an oversupply in the market. With the continuous development of the world economy, people's purchasing power has improved, and the demand for luxury goods is also increasing. However, at the same time, the diamond industry is also growing and the mining volume in various producing areas is also increasing year by year, resulting in an increase in supply. This imbalance between supply and demand often leads to price fluctuations, thus affecting the stability of the entire market.

However, price decline does not mean that the market is declining. On the contrary, it may be that the market is adjusting to find a new equilibrium point. In the diamond market, price fluctuations are often a norm, and this fluctuation also provides consumers with more choices. For example, the current price drop may attract more consumers to enter the market and choose to purchase diamonds, thus promoting market activity.

Just like spring is coming, the price drop may be a signal that spring is coming in the lab-grown diamond market. For consumers, now is a good time to buy. Raw diamonds of more than 2 carats, which used to be relatively expensive, are now reduced by as much as 15%, which means consumers can buy the diamonds they want at a more reasonable price. For diamond practitioners, it may be time to consider how to innovate marketing strategies to attract more consumers to enter the market and jointly promote the development of the market.

In the diamond market, the rapid development of the cultivated market is crucial. We can attract more consumers and enhance the visibility and reputation of diamonds through price reduction and promotion strategies, thereby promoting market prosperity. It's like planting time in the spring and now is the time for us to work together. I believe that through everyone’s unremitting efforts, we will be able to see the spring of the diamond market come.

For example, rough diamonds of more than 2 carats, which used to be more expensive, may be a prohibitive option for many consumers. But now with prices falling, consumers can more easily consider purchasing such diamonds. For example, a young couple may have been hesitant because the price was too high, but now they can realize their dream and buy a satisfactory diamond ring at a more reasonable price. This will become a testimony of their love and also a blessing for the entire diamond market. Inject new vitality.

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