A diamond lasts forever"This classic advertising slogan no longer seems to be relevant these days. Earlier this year, in its first auction held by the international diamond giant De Beers Group, they boldly announced a reduction of about 10% for rough diamonds**. Even more strikingly, large diamonds have experienced even larger price reductions, with one category of diamonds seeing a price reduction of as much as 25%.
Even with such an adjustment, consumer demand for diamonds does not seem to have recovered. Recently, De Beers Group has once again downgraded the number of rough diamonds. According to the latest Global Rough Diamond** Index, the index has fallen a staggering 18 percent in the last 52 weeks as of Jan. 275%, and even reached a 52-week low on the 27th.
Rough diamonds over 2 carats have been reduced in price by more than 15%; 0.The average price reduction for rough diamonds between 75 and 2 carats is between 10% and 15%; And 0Rough diamonds under 75 carats are reduced by between 5% and 10%. Overall, the overall decline in rough diamond** is about 10%.
The De Beers Group, founded in 1888, once monopolized South Africa's diamond resources and established the only diamond sales channel. In 1934, they established the "** Sales Organization" in London, which unified the sale of rough diamonds, and effectively monopolized the global market. From ore mining, cutting and polishing, design and final sale, De Beers' business covers the entire diamond** chain.
De Beers promotes diamonds in 34 countries and 21 languages around the world. They provide assistance and up-to-date diamond information to customers,** and the jewelry industry through their diamond advisory centers and diamond promotion centers around the world. It was 50 years ago that De Beers created the slogan "Diamonds Forever", which not only became popular but also established diamonds as the king of gemstones.
In recent years, with the development of synthetic diamond technology, the status of diamonds has begun to suffer. More and more consumers are beginning to wonder if diamond is truly unique, as its main component is carbon, which is not fundamentally different from synthetic diamond. Some even believe that "the biggest lie of the twentieth century, and the most brilliant**", is about diamonds. It is also believed that buying diamonds is paying an IQ tax, because only stupid people buy them, and once they do, the value immediately depreciates.
Diamonds are elemental crystals formed under high pressure and high temperature conditions in the deep part of the earth, and are composed of the element carbon. Although diamond is not a rare element in nature and is essentially the same composition as coal, pencil lead and sugar, it is formed under certain circumstances. Due to its high refractive properties, it is able to produce a colorful luster, so it is used as jewelry.
In the era of underdeveloped technology, diamonds could only be mined from nature, and due to their scarcity, they were given extremely high value. However, with the advancement of technology, it is now possible to create large quantities of diamonds synthetically, and the scarcity of diamonds is gradually disappearing, and although there are still some differences, they are no longer enough to attract consumers' crazy buying desires.
The diamond market is facing enormous challenges,** and consumer doubts about its value are putting the status of the king of gemstones at risk. In the future, the diamond industry needs to rethink how it engages consumers and retains its appeal and value. In this question, we can't help but ask, is the diamond's sparkle really indelible? Welcome to leave a message to discuss.