The rapid rate of increase in wholesale prices of rare polished diamonds is unsustainable, but for now the growing number of super-rich are paying rising prices for top-tier diamond jewelry.The prices of larger, rare, near-flawless gemstones had shot up by roughly 200 percent over the past 18 months.
Diamond jewelry prices have risen in tune with wholesale diamond prices, but fine jewelers like Graff and Cartier say demand is holding up well for top-tier diamond jewelry in upscale retail outlets on Bond Street in London and in New York.
High-end jewelers in London and New York are reporting increased traffic from foreign visitors, especially from commodity-rich countries in the Middle East, South America and eastern Europe.
Source: Reuters
