Showing posts with label Natural Diamond Council. Show all posts
Showing posts with label Natural Diamond Council. Show all posts

Sunday, 16 February 2025

Average US Engagement Ring Costs $6,750

Young bride wearing beautiful engagement ring, closeup

The average price of a natural diamond engagement ring in the US last year was $6,750.

And the average size of the stone was 1.07 carats, according to a new report by the New York-based Natural Diamond Council.

It provides a detailed analysis of the shift to larger, higher quality diamonds in its downloadable 20-page Natural Diamond Trends: A 2024 Overview.

Round brilliants remain by far the most popular shapes in diamond jewelry, at 81.7 per cent, but that figure is slipping slightly. 

Among fancy shapes for all diamond jewelry, princess and cushion showed the biggest increases, albeit from a very low base (2.1 per cent and 1.0 per cent market share respectively).

The most common color for an engagement diamond was H and the most common clarity was SI1, with bridal representing 33 per cent of all natural diamond sales in the US. 

The average price of wedding sets increased 31 per cent in 2024, the report said.

“The increase was mainly due to a rise in the average size of diamonds and a notable change in the type of metal used.”

The average price of natural diamond jewelry sold across all product categories grew 2.7% to $2,360 in 2024.

The report, the latest in a series uncovering the trends, origins and impacts of natural diamonds, was jointly produced with Tenoris.

Source: IDEX

Sunday, 24 November 2024

Positive Step to a $100m Natural Diamond Campaign

$100m Natural Diamond Campaign

Key players have taken “a very important step in the right direction” to raising $100m for the long-term promotion of natural diamonds, according to Yoram Dvash, president of the World Federation of Diamond Bourses (WFDB).

He also said he was cautiously optimistic for the holiday season as prices had started to stabilize globally, inventories were reducing and De Beers and the World Diamond Council (WDC) had embarked on multimillion-dollar advertising campaigns.

Dvash (pictured) said trade bodies had reacted very positively o his call for a $100m marketing campaign after what he described as a “brainstorming session” at the Dubai Diamond Conference earlier this month.

The Antwerp World Diamond Council (AWDC) and India’s Gem & Jewellery Export Promotion Council (GJEPC), had agreed to start looking into funding campaigns by the Natural Diamond Council, he said, in collaboration with the WFDB, IDMA (International Diamond Manufacturers Association) and CIBJO (World Jewellery Confederation). More trade bodies are expected to follow suit.

Dvash said he’d called for the industry to unite behind a major and sustained marketing campaign over the next five years to create demand for natural diamonds some weeks ago, and had been pleased by their response.

“It seems that we have found the golden formula that would enable the industry to raise $100m for generic advertising of natural diamonds,” he said.

Earlier this month he said there hadn’t been a major generic marketing campaign for natural diamonds for almost 20 years, when De Beers halted its “A Diamond is Forever” promotion.

“An entire generation of consumers has come of age without having been exposed to promotional campaigns with positive messages about natural diamonds,” he said in a letter to all the WFDB’s 29 member bourses.

Source: DCLA

Wednesday, 6 November 2024

WFDB Call for Five-Year Marketing Campaign

WFDB Call for Five-Year Marketing Campaign

The natural diamond industry needs coordinated and consistent marketing campaigns to counter declining demand, says Yoram Dvash, president of the World Federation of Diamond Bourses (WFDB).

In an open letter he calls on every member of the industry to help create a five-year plan, rather than relying on “short-term initiatives when the situation is particularly dire”.

He acknowledges that De Beers and the Natural Diamond Council are both spending millions of dollars on campaigns with leading retailers, but says it’s not enough.

“I am concerned that this is too little and too late,” he says. “To be successful, campaigns need to be coordinated and to be consistent throughout the year.”

He says there hasn’t been a major generic marketing campaign for natural diamonds for almost 20 years, when De Beers halted its “A Diamond is Forever” promotion.

“An entire generation of consumers has come of age without having been exposed to promotional campaigns with positive messages about natural diamonds,” he says in a letter to all the WFDB’s 29 member bourses.

Source: DCLA

$127m Diamond Loss for Rio Tinto

Rio Tinto reported a $127m loss for 2024 from its Diavik diamond mine, in Canada, as weak market conditions led to “fixed cost inefficiencie...