Is the Market For Diamonds Going Up Or Down?

Things like mines closing down, government relief being extended to Indian diamond cutters, diamond scrips moving downwards, and the like will hog the news; and the feeling is that the diamonds market is on its way down.

With the recession fully upon us - not just in the America, but almost in every country across the globe, things might seem pretty bleak on paper.

However, there is also a surprising under current happening in these times. Page two of Google search results will take you to the best and most reputed diamond retailing portals, and the happenings there are pretty amazing. There are press releases from leading online diamond portals mentioning sales of over a million dollars - and we are not talking about monthly sales, those are way beyond - there are single purchases of tens of thousands of dollars on those sites! So, it gets us to wonder - where has the recession gone then?

That is the wonderful thing about shopping online. It is not that people do not have money to spend on luxuries. It is that the spending has become much more controlled and more thoughtful. Gone are the days (temporarily of course!) of splurging without thought. Luxuries such as diamonds and gold jewelry are pushed to the end of the lists, but they are as important as any other item on it.

Think about it - birthdays, anniversaries, and other special occasions happen even during the recession, don't they? But when the purse strings are drawn tight, money does not flow as easily, and hence customers look for places where shopping can be done at a lower price - without compromising on the quality; and that place is online.

Statistics show that there has been a sudden increase in the amount of money being spent online, and that is partly thanks to the global recession. With malls and stores closing down, and with tons of layoffs happening in the retail field, the onus to deliver is on the online sales industry. eBay shows a lot of traffic every single day, and the number of conversions also are very healthy!

Coming to our title, is the market for diamonds going up or down?

Actually, the market for diamonds is on its way up. Though there are diamond guilds showing a slowdown in global sales, there is a whole new market being created thanks to the online diamond retailers. People who thought that diamonds were out of reach all these days are suddenly realizing that they too can get into the diamond ownership exclusive club. For instance, there are gift items on Diamonds On Web, which start from about $ 120! If you can get a piece of jewelry studded with certified brilliant cut diamonds at around the price, people naturally will gravitate towards them, won't they? And that is exactly what is happening. Though there is the recession and all this depressing talk going around with layoffs by the thousands and salary cuts by the millions, engagements and weddings are still happening, aren't they? And when there is an engagement or a wedding (which are occasions that demand a very special ring), how can there not be a diamond present for the occasion? Since jewelry stores might be out of reach for a lot of people, online jewelers are becoming the perfect replacement.

And buying jewelry online is a win-win situation, as the prices are way lower than those at your local specialty jewelry stores, and the range available online is absolutely unmatchable by the jewelers outside. With all the warranties and guarantees in place, getting an engagement ring (or any other kind of jewelry) online is a decision that is easily taken. The next time you have a special occasion coming up (which should be pretty soon), log on to one of the internet's leading diamond retailers, and you will see why the popularity is on the rise.
Now you tell us, is the market for diamonds going up or down?