DTC: 16% Average Price Increase So Far (Updated)

The Diamond Trading Company (DTC) announced Tuesday that the average cumulative increase in DTC rough diamond prices since the beginning of 2008 has been 16 percent. The company did not announce any price hikes for the current August Sight.

The news is part of the periodic announcements the DTC makes three times a year ahead of the Las Vegas and Hong Kong industry trade shows and ahead of its annual results.

“Some boxes have been affected more than others,” according to the release, the strongest increases having been predominantly in rough that produces “highly sought after” SI+ and +1 carat polished diamonds.

Adding all the announced price hikes in 2008 results in a 13 percent price increase. Mahiar Borhanjoo, DTC’s Executive Director of Sales and Client Services in a follow up letter to Sightholders emphasized that the three percent difference simply reflects, “The additional increases previously announced at the July Sight.”

“The DTC takes a long-term, sustainable view on its pricing and decisions are influenced first and foremost by demand for polished,” Borhanjoo commented. “So far during 2008 DTC has seen strong and continuing consumer demand for most categories of polished diamonds, especially in the larger goods.”

(Last updated August 20, 2008, 02:58)