Ramble On Ron

Diamonds, Music and other Facets of Life

Diamond Market Report 2024

Posted on | January 15, 2025 | No Comments

I skipped 2023’s diamond market report. Let’s sum up 2023’s diamond market with one word…SOFT.

What is there to report this year? Diamonds have taken a hit in the last two years. Lab Grown Diamonds (LGD) took a lot of market share from naturals. So much that .25 – 1.50 carat diamonds have suffered in their second hand value. I did report that there is NO second hand market for LGDs and it’s still true. I think I’ve come to the conclusion that LGD will continue to fall and will NEVER have any intrinsic or market value. That said, the LGD market will fall into a separate, cheaper/price point category. In fact, a one carat LGD that was $1500 in 2020 is now $100 – you heard that right, $100 a carat to find this stuff.

LGD’s affect on weakening natural diamond sales in the low to mid market engagement ring category did prove to be significant. However, larger diamonds have held up. Estate jewelry has been a hot category with high brands like Tiffany, Van Cleef & Arpels and Cartier leading the way. Art Deco and big old rocks, as we call them, are still great.

Shape wise there has been an interesting change. Rounds, which were always king, are a little weak. Ovals, pear shapes, emerald cuts, and now MARQUISE diamonds are back! Can you believe it? Princess cuts are still dead.

What saved Samuelson’s this year has been METALS. Gold & silver continue to rise, with gold having one of it’s best years in 2024. Rolex watches are holding steady. So we still have bright spots in the jewelry market. You may ask – what do you do with all of your diamonds when the market softens? We make tennis bracelets, eternity bands, and other jewelry and pass the savings on to you!

Happy trading and here’s to all things that sparkle in 2025!

Category: Business, Jewelry
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