Practitioner: Perhaps in the future, buying soap as a gift for diamonds will lead to a sharp drop in global diamond prices
Over the past few decades, diamonds have been the darling of the luxury goods market, and the price of certified diamonds has dropped by 35% to 40% in the past year, prompting people to wonder if the myth of diamond skyrocketing prices is gradually fading. Data shows that the International Diamond Exchange Diamond Price Index reached a historical peak of 158 in March 2022, and has since fallen to around 110, reaching a new low in nearly five years, with a decline of about 30%. Industry insiders say that the sustained high inflation in many countries around the world is an important reason for this phenomenon. In addition, the price of natural diamonds has also been impacted by artificial diamonds. A high-end diamond brand store owner told reporters that unlike in the past, more than half of customers will choose artificial diamonds recently.
According to Fleischteg, a director of the Belgian Diamond Exchange Federation, two years ago, artificial diamonds were 40% cheaper than natural diamonds. Later, they were 60% cheaper, and this year they are 70% to 80% cheaper, or even 99% cheaper. Perhaps in the future, buying soap in supermarkets will also give you a diamond.