I recently announced and shared the Mercury Diamond Price List™ – the monthly wholesale price list for polished diamonds.
In recent years diamond industry professionals have raised concerns about the diamond benchmark lists currently available in the market. For example, on several occasions this year for example, benchmark lists have published increases in prices at times where diamonds have continued transacting at low prices
There are some that would claim that the key step to solving the current crisis in the diamond industry is to drastically reduce the price of rough diamonds, specifically by the main diamond producers. This erroneous belief reveals some widespread confusion about the diamond market.
I’ve been discussing the need for transparency in the diamond industry here for quite some time. I’ve written about the importance of letting people know what they are being offered by explaining to them in detail how the value of natural polished diamonds is determined.
As consumer preferences and buying patterns change, diamond jewelry retailers are adapting their products and marketing in response. The most successful retailers are leading the way by creating new choices for consumers to spur sales. For multinational brands, different markets different approaches and the development of unique sales strategies. In this series of articles, I want to take a detailed look at diamond jewelry retailers.