Since we reported a 24 per cent drop in natural diamonds in june, the price decline has not been “brakes”, but has continued to go down. In recent days, the news of the “diamond crash of 40 per cent” has once become a hot topic for major media outlets, and is the time of the king of gems really coming to an end
01
Diamonds' life and present
According to the test, the term diamond is derived from the greek term "adamas", which means that it is hard and not submissive. Like precious metals, earlier diamonds were a scarce and expensive gem, and ancient people did not know about the chemical composition of diamonds and thought that diamonds were scarce in nature。
That was true for some time. Before 1730, the only country in the world capable of producing diamonds was india, which, in the long medieval century, was the exclusive preserve of the pope, king and nobility of europe and the symbol of power, wealth and status. With the gradual reduction of indian diamond production, europeans began to look for diamonds elsewhere。
Until the middle of the nineteenth century, large-scale diamond mining was discovered in south africa, which directly facilitated the large-scale mining and commercialization of diamonds and also began to form a diamond monopolyr headed by de beers. In addition to mining, de beers has established a set of classification, rating and valuation criteria for diamonds, which still play a role. Despite the dramatic increase in diamond production since then and the increased awareness of material elements (the main component of diamonds is the carbon content in nature), the marketing of diamonds by diamond monopolies, targeting small sums in cities and successfully tied to the marriage market, has allowed diamonds to remain high for a long time to come. “diamond is forever” (a diamond is forever)。
In addition, the british crown has become an icon for diamond products. The world's largest cut diamond, the star of africa, weighs 530. 02 carats and is embedded on the top of the king's staff; the african star ii, a little smaller than it, weighs 317. 4 carats and is embedded on the crown of the king。
Diamonds represent a noble, royal life, which makes it easier for ordinary consumers to take over the life of a noble and even a royal family in the form of diamond consumer goods, dreaming of becoming kings or princesses. Diamonds are bound together with pure love, which once became a token of marriage, and although the purchase price of second-hand diamond rings has never been so bad, it has not affected the sales of the diamond rings, and has led to the emergence of a large number of well-known producers, such as tiffany and cartier。
While the main component of diamonds from a rational point of view is carbon, and the world is finding more and more natural diamond mines, even our country is mining more than 100,000 carats per year, first in asia (consumers are generally of the opinion that south africa is of the best quality and, in fact, a very high quality of domestic production). But diamond products are still representing luxury jewels for a considerable period of time, after all, at the stage of marriage, with only one sentence: “i must marry once in my life, i must marry xxx”, all of which becomes a problem of attitude and political correctness. While there is a wide range of rational analysis and better alternatives (e. G. Gold products), soft and hard bubbles and ultimatums cannot be built and many eventually have to compromise。
02
No one can escape the cycle
“the greatness of the heavens and the great abundance of soup and soup, and those who follow, and those who turn back, shall die.” the vast majority of the world's events have a cycle in which 1008,000 diamond rings are loaned, and 79 dollars in counter-cyclical terms are targeted。
Diamonds known as the king of gems also had to bow in the face of countercyclical cycles. As the world economy enters a low tide, so-called “middle-born” consumption, first abandoned, must be “luxury goods” unrelated to the necessities of life. Diamonds, as a product with only high prices and low value and real value, are naturally “abandoned children”。
The deep binding of the diamond and marriage markets has also indirectly determined today's collapse in prices. What is known as “success and failure” is that once a diamond ring could fly as young people rush into marriage, and today it is increasingly difficult for young people to get married and divorce rates become abandoned. The phrase used in the pua, “only once in a lifetime, i want xxx”, has become a joke, with more and more young people becoming aware that the immediate human being is not necessarily a life, and that practical gold jewelry is more valuable than diamonds if the future is to be divided。
In july of this year, the founder of the i do diamond ring, lee ho-chul, was listed by the people's court of the new zone of tianjin city as a disbelieving man from being the king of diamonds to being the “leon”. Its parent company, dia, released its 2023 semi-annual report on 29 august, thanks to the first-ever dr diamond ring of the “men can customize only one person for life”. According to the report, during the first half of the year, the revenues from the dia shares decreased by between rmb 40. 45 per cent and rmb 1,242 million compared with the same period of the previous year, while the net profits attributed to the shareholders of the listed companies fell by between rmb 90. 77 per cent and rmb 5,341 million compared with the same period of the previous year。
In addition, artificial drills are marching towards us. Since 2019, when the chinese academy of sciences succeeded in breaking through the technology of manufactured diamonds, henan quanctu became a new generation of “south africa”, not only to “false the truth” in its appearance, but at a cost of only 20 per cent of natural diamonds, which in the instant were set at “brush prices”. Since hundreds of thousands of dollars of natural diamonds could not eventually escape the fate of hundreds of recycles, it would be less painful to buy low-cost manufactured diamonds for some time to recover。
Concluding remarks
From the beginning of the discovery of large-scale diamond mines in south africa, the final fate was written long ago, and it was only in the context of the rapid growth of the world economy that many problems were ably concealed and tied to marketing. With the chronic downturn in the world economy, this “bigest trick” in human history may really be over。
