Experts Expect Boom in Diamond Sales in World Next Two Years

The experts of “Antwerp World Diamond Centre”, Holland, expected a boom in sales of diamond over the years between 2022 and 2024 as sales are going to return to the previous levels before the period of the Corona pandemic.

During the last year, prices of diamond decreased by 11% and sales also declined by 15% due to close downs related to the pandemic.

During the current year, both prices and sales of diamond witness more improvement.

According to “ De Beers”, the largest diamond company in the world, the youths are still sincere to stones extracted from mines that represent two-thirds of world supply.

Eng. Lotfy Monieb, first-deputy of Chief of Gold and Jewelry Branch of the General Federation of the Chambers of Commerce, said that diamond like gold and properties is considered a means of keeping the value at different degrees.

Each of these assets could be resold in a different manner.

But gold items could be resold with loss estimated at15-20% of the original and gold bullion lose about 2% of the original value.

The rate of lose of diamond doesn’t exceed 5% for beads weigh half a carat and a whole carat given accompanied with certificates of international labs such HRD or GIA.

Customers may harvest gains if prices of diamond go high.

However, small pieces of diamond may lose 10to 40% of value due to cost of composing of precious stones

A every small diamond piece needs clips that require a certain hardness, and the cost of installing a diamond piece is equal to 3 times the cost of installing of zircon on gold, in addition to wasting a large part of these stones when reconfiguring the piece in a new model.

Eng. Monieb pointed out that the certificate attached to the stones increases its value by double, compared to stones that do not have a certificate.

He revealed that the world includes about 10 international laboratories. The certificates issued by US GIA and Belgian HRD is the respected in the world as they set strict standards in characterizing stones.

He added, that the certificate includes a description of four aspects, through which the price and value of polished diamonds traded in the markets are evaluated and determined, including weight, color, purity and cut.

He explained that “De Beers: company had applied the largest increase in diamond prices in years, as the industry starts to recover from the closure caused by the epidemic.

The largest diamond producing company in the world raised prices by about 5% in its first sales of this year, and consequently prices rose in the local markets .

He explained that buying diamonds depends on the culture of inpiduals and does not depend on material ability, and some classes that have high purchasing power, prefer gold.

He added, the local market prefers stones whose weight ranges between 0.30 and 0.70 carats, and of color H and G, and of Vs1 and VS2 and VVS2 purity.

He pointed out that the weight is the first factor in determining the price of diamonds, and it is measured in carats, and equals 200 milliliters of a gram, and a gram equals 5 carats, and weights less than a quarter of a carat are not issued for international certificates.

Translated by Ahmed Moamar