Fashion  

Diamonds May Not be Forever: Industry Mining Wanes

The world's most coveted stones, are depleting in stock as their mining heyday comes to a close
 Diamonds, like any great investment, are rare
 
 

In a recent report substantiated by DeBeers, the world’s biggest diamond producer, “Experts estimate that all known supplies of diamonds will be depleted within 30 to 40 years.” A recent report in the Times of India, noted a similar conclusion, “The production of rough diamonds around the world has depleted by about 20% at 120 million carats this year.” The depletion in the discovery of diamonds has many experts worried as to the longevity of this long desirable collectable.

Leo Hamel of Leo Hamel Fine Jewelers in San Diego, California is one such expert who is well aware of the situation, however he believes the situation can be interpreted as positive to those looking towards diamonds as a financial investment, “As the world diamond sources are diminishing too quickly to meet long-term demand, consumers may plan to invest in diamonds now before the costs become grossly inflated,” he says.

RELATED ARTICLES

Hublot: Exclusive timepieces fueled by passion

Cartier's Energy Efficient Timepiece: The Cartier ID Two

Sotheby’s Auction and the $11 Million Vintage Watch

Hamel believes the window for buying diamonds may be coming to a close soon, "Diamonds have long been considered the height of luxury as adornment for both men and women," says Hamel, “Due to growing demand by consumers in China and India, diamond prices are predicted to skyrocket by 2015. Investors and collectors of this precious stone would do well to buy it soon."

So for those fortunate buyers, who have the money to invest  now, this depletion of diamonds coupled with the economic recession could be the perfect environment to invest in the world's most visually pleasing investment.

Join Businessfriend today. Where social networking leads to productivity


Featured Articles + MORE Featured Articles >>