Even though most people would think interest in diamonds drops significantly during uncertain times, XO Jewels’ semi-annual report on diamond jewelry sales by its authorized retailers across the nation indicates steady sales despite uncertain economic outlook due to COVID-19 pandemic.
How did diamonds become popular and recession-proof despite being a luxury item? Mainly by DeBeers’ ingenious campaigns of romancing the natural gemstone’s unique characteristics so it signifies intimate love and commitment when getting engaged and a beautiful, personal present that commemorates life’s special moments.
So, what are these characteristics and how does the industry uphold interest in diamonds?
Diamonds are Ageless
Diamonds were formed billions of years ago, about a hundred miles below the surface of the earth’s upper mantle and moved up to the surface by massive volcanic eruptions. Made by Earth over a long time ago, diamonds are nature’s creations which have stood the test of times.
Diamonds are Pure
Diamonds are made of a single element. It’s 99.95% pure carbon with the other 0.05% not part of its essential chemistry. It is one of the hardest materials on earth because of the four strong covalent bonds that form between carbon atoms and grow into clear, transparent crystals which then are cut into multi-faceted shapes for exceptional brilliance.
Diamonds are graded for their color, cut, clarity and physical characteristics by several independent laboratories, with Gemological Institute of America (GIA) as the most reliable one. The standardized grading system provides quality and value transparency for the diamond trade and helps consumers buy diamonds with confidence.
High Value Retention
Just like any other product, supply and demand set the market value of diamonds. But since the supply is controlled by a handful of mine owners and distributors, price drops are very rare to non-existent, resulting in high value retention.
XO Jewels designs and manufactures exceptional diamond and precious colored gemstone jewelry for the fine jewelry retailers. Passion for creativity, dedication to clients and professional integrity are the corner stones of XO’s continuing success since 1985.
Contact: Robert Ahdoot
Phone: 213.623.3037 x 103
Source: XO Jewels