23 Sep 2021
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More people are getting hitched, and with larger diamonds!-Diamond Engagement Ring Sales in the U.S.
Pandemic, shmandemic! Nothing can come in the way of love, and as more couples are deciding to get engaged in the U.S., they are expressing their willingness to commit with larger diamonds, observes Vijetha Rangabashyam
By: Diamond World News Service
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Sep 21 2020 12:09PM
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Reference: 25167  

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Life has been put into a new perspective and people are concerned. If you have someone special in your life, commit to them! Weddings, big events, parties and trips are not happening so why not make the bigger investment in diamonds? Round, Oval, Cushion, Emerald Cut in 2.0 ct and up have been popular. We believe spending will continue as long as people have hope that life may go back to normal! Scott Saunders, Senior VP, Business Development, London JewelersCouples who have put off getting engaged have decided to take the plunge, because of the pandemic, who knows what life will hand them next? “Engagement rings for Mayfair Rocks and Kristen Farrell are always a very strong purchase. Is this summer stronger because of Coronavirus? Well, it all depends. If the purchaser hunkered down with their significant other for the quarantine and came out still in a great place, then yeah, maybe they pushed the fast forward button on an engagement ring,” says Lauren Kulchinsky Levison, Chief Style Officer, Mayfair Rocks (Long Island) and Kristen Farrell (Manhattan), a family-owned 4th generation jeweller since 1927

People are also feeling safer to step out now as they’ve been on a lockdown for several months. “I believe COVID has been directly responsible for the increase. After being locked down for an extended period of time, people are feeling more comfortable getting out,” says Craig Underwood, President, Underwoods Fine Jewelers, Fayetteville, Arkansas. Couples have also been spending quality time with each other since the pandemic. The Arkansas-based jewellery store never shut down and saw a steady demand for engagement rings. “Engagement ring sales started spiking right before Christmas. The “slower” early Spring season seemed to pick up more than usual this year. We never closed so it’s been steady with engagement ring sales,” adds Taylor, a sales associate at the floor.

The rock just got bigger
In an interesting turn of events, couples are spending more money on larger diamonds – the carpe diem effect seems to be coming into play while they are eagerly scouting for the perfect ring. “Weddings, big events, parties and trips are NOT happening so why not make the bigger investment in a diamond!,” is the attitude that is driving more couples towards larger carat sizes believes Scott Saunders, Senior VP, Business Development, London Jewelers that has stores in NYC, Long Island and the Hamptons. Entertainment and travelling expenses have drastically come down for many people after the pandemic and those with higher disposable incomes are splurging on larger diamonds, which is boding well for the Indian diamond industry, where over 90 per cent of diamonds get cut and polished. “We are seeing a good turn of events. Items that were not moving during the last six months are suddenly moving. Diamonds over 3 carats are definitely seeing an uptick in demand,” says Priyal Shankar, Shivam Jewels, a Mumbai-based exporter of cut and polished diamonds.

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