The Price Conundrum
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Saturday,July 04 2020 [ Issue 1 July/ 2020 ]
The Price Conundrum
As diamond manufacturing units in Surat are now shutting down again, due to Covid, India has decided to continue its ban on rough imports.

Jewellery stores are witnessing bleak diamond demand. Cutters are not cutting. And the biggest diamond producers are stockpiling on roughs while buyers are voluntarily banning rough imports. Still, De Beers and ALROSA are not willing to bring down the pricing and they have their reasons.

Meanwhile, earlier this week, Christie's sold a 28.86-carat diamond for $2.115 million making it the most expensive diamond ever auctioned online. While diamonds at large may be losing its demand, the sentimental value that rare, precious diamonds with a great story still holds a special place in the minds of elite consumers.

 
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Highlights
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Diamonds Do Good® will convene viewpoints from De Beers’ Bruce Cleaver, Signet’s Gina Drosos, Alrosa’s Sergey Ivanov, Rosy Blue’s Russell Mehta and Chow Tai Fook’s Kent Wong in a live interac
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Christie’sJewels Online(June 16-30) totaled$4,164,500, with100%sold by value,93%sold by lot, achieving140%hammer above low estimate, and64%of lots selling at or above their high estimate. Estimated at $1-2m, the 28.86 C
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