This price index will make the diamond trade more transparent and efficient.
October 16, 2019 —
In order to make the diamond trade more transparent and in response to the growing demand for more information on diamond prices, Petra Gems has launched a simplified diamond price index for 1 ct., 1.5 ct., 2 ct., and 3 carat diamonds.
This price index will offer consumers an average estimate wholesale and retail price for diamonds in a given range. Under each carat weight, the chart will show diamond prices based on color and clarity. For example, the price for a 1 carat, VS1 clarity, F color stone is listed as $6,768 in wholesale and $8,798 in retail.
The index takes color, clarity, and the average of very good to excellent cut and none to faint blue fluorescence into considerations as it determines a price for a given carat weight. The price only applies to diamonds graded by the Gemological Institute of America (GIA) or American Gem Society Laboratories (AGSL). While the primary index is for round cut diamonds, Petra Gems has also provided a formula for how to calculate fancy cut stones.
This index is based off the prices of major online diamond retailers and wholesalers such as James Allen, Blue Nile, and Rapnet. Petra Gems will continuously update the index as it determines significant shifts in diamond prices.
If we look at the price trends of polished diamonds from 2004-2012, we have an average annual increase of 4%. The diamond industry can maintain healthy margins and remain relevant in the long term if we resolve the issue of transparency and make a strong value proposition for buying high gem quality natural diamonds.
Maintaining such transparency is especially critical in the era of lab grown diamonds. The war between natural and lab diamonds has already begun, and according to De Beers (the largest diamond mining company in the world), they had decline in sales to $295 million in their recent meeting as opposed to $482 million 12 months ago because of higher demand for lab diamonds.
Petra Gems is hoping that by releasing this hassle-free price index regular buyers will be able to review diamond prices instantly without having to go through several sites or giving their data to third party sources. Moreover, because the prices in the index are determined by analyzing the data of very reliable and competitive online sources, it will give consumers the most accurate price for what they should pay for a diamond in a given range.
Learn more about the diamond price index.
Contact Info:
Name: Sharif Khan
Email: Send Email
Organization: Petra Gems
Address: 251 N Rose St Suite 200, Kalamazoo, MI, 49007
Phone: +(1) 269 365 5052
Website: https://www.petragems.com/
Release ID: 88927955
