Diamond Inflation And Article Of Joseph Schlussel
2003: Diamond Inflation And Customers Of Diamond Registry
In an article on the front page of "Weekend Journal" on May 16 called "When a Carat is Not Enough," the Wall Street Journal said that more people were buying bigger stones.
"Even in these times, the benchmark of an ‘impressive diamond has crept up, from a single carat in the 1990s to two or even three today," . "Diamond behemoth De Beers Group says sales of diamonds a carat or larger have outpaced smaller stones.ones by 81% since 1966"
The article said this "diamond inflation" was due to megarock celebrity engagements and older brides with higher expectations.
The article quoted Joseph Schlussel of the Diamond Registry that jewelers mark stones up about "15% to 100%." But we feel the quote is not completely accurate. We said jewelers’ mark-up goes on a sliding scale depending on the size. We don’t know any jewelers — even in the carriage trade — who make 100% on a three carat stone. Large mark-ups are only possible on smaller stones.
Also quoted was one of the Diamond Registry’s large-stone customers, Whitney Mantooth, from Tennessee, who first came to us after we sold a stone to his parents via the Internet. He told the Journal that buying a larger stone for this girlfriend meant putting off buying a new Mercedes.