(PRESS RELEASE) TAMPA, FL — The Diamond Price List (DPL), the platform revolutionizing diamond pricing through its transparency, interactivity, and data-driven accuracy, has updated its prices for the first time since its launch in June of this year.
The independent, market-referenced price list for polished diamonds makes use of artificial intelligence, machine learning, and data science algorithms to ensure transparency and objectivity.
“This first update to the DPL accurately reflects industry supply and demand for polished diamonds over the last three months”, shared Tomer Gil Levi, CEO of The Diamond Price List. “It provides an authoritative benchmark to polished diamond traders in the critical period leading up to the end of the year and the all-important holiday retail season.”
For round diamonds, this update features an average price increase of +2.5%. By size, the biggest increase is in 1.5-1.99ct (+5.4%), followed by 2.0-2.99ct (+4.3%) and 1.0-1.49ct (+3.2%).
For fancy shapes, this update sees an average price increase of +2.1%, with 0.70-0.89ct stones leading the way at +3.4%, followed by 0.30-0.39ct (+3.1%) and 0.50-0.69ct (+2.9%).
In general, for rounds and fancy shapes across all sizes, the largest price increases are seen in IJ colours; price increases are more consistent across all clarities, with +SI1 rising by slightly more than SI2-I1.
The increase in the DPL polished prices arrives against the backdrop of increasing rough diamond prices since the start of 2021, some constraints on mining, manufacturing, polished diamond grading capacity, and most importantly, during a period of strong consumer and trade demand for polished diamonds.
The DPL is releasing this update after a highly successful inaugural exhibition at JCK Las Vegas earlier this week. Coming into the Show having surpassed 20,000 downloads since their June launch, the company saw its largest interest come from retailers, who were quick to download the app and embrace the user-friendly platform. George Dejermenji, owner of Media City Jewelers in Burbank, CA, shared “a tool that can position a retailer to become more profitable and more powerful, specifically a brick-and-mortar store, would be a major asset.” He continued, “The DPL is that platform, allowing a customer to feel they are getting more transparent pricing, strengthening the perception of the retailer.”
The next scheduled update to the DPL prices will be released at the end of November, following a quarterly timeline. In the meantime, the DPL welcomes feedback on the current price update and input from the growing community of the DPL users into the methodology, timing, and frequency of further updates. For more information, visit www.thediamondpricelist.com or contact info@thediamondpricelist.com.