World's Largest Diamond Exhibition Opens in London

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Vol. 22 No. 2 - SEPTEMBER 2008

2008 Marks the 150th Anniversary of the Birth of Kokichi Mikimoto, the Pearl King>

2008 Marks the 150th Anniversary of the Birth of Kokichi Mikimoto, the Pearl King

Jewels - The rapid rate of increase in wholesale prices of rare polished diamonds is unsustainable, but for now the growing number of super-rich is paying rising prices for top-tier diamond jewellery.

Charles Wyndham, founder of PolishedPrices, a leading index of wholesale diamond prices, said prices of larger, rare, near-flawless gemstones had shot up by roughly 200 per cent over the past 18 months.

The surge has been driven by increased interest from a growing number of multi-millionaires in emerging markets, a shortage of rough diamonds and the dollar's slide, he said.

Diamond jewellery prices have risen in tune with wholesale diamond prices, but fine jewellers like Graff and Cartier say demand is holding up well for top-tier diamond jewellery in upscale retail outlets on Bond Street in London and in New York.

A woman receives a necklace at the best jewellery wearer award ceremony during the 18th International Jewelry Tokyo 2007 fair in Tokyo January 24, 2007.