Diamond Prices Are Only Going to Go Up: Ryder Diamonds CEO

The video discusses the impact of COVID-19 on the diamond industry, highlighting a sharp decline in prices due to factory closures in India. It explores how consumer behavior shifted during the pandemic, with increased discretionary income leading to more diamond purchases. The video also addresses the challenges of investing in diamonds, noting the lack of a strong secondary market. It examines the rise of online shopping and market trends, and offers tips for buying diamonds, emphasizing the importance of understanding diamond grading and quality.

What was a major consequence of the COVID-19 pandemic on the diamond industry?

• Increased production in India

• Expansion of diamond polishing factories

• A sharp decline in diamond prices

• A rise in diamond prices

Why is it challenging to consider diamonds as an investment?

• Diamonds are not durable

• Diamonds are too expensive to buy

• It's difficult to sell them at the retail price paid

• There is a strong secondary market

How has the COVID-19 pandemic influenced consumer behavior in the diamond market?

• Increased in-store purchases

• Decrease in diamond sales

• More people traveling to buy diamonds

• Rise in online shopping for diamonds

What is a common mistake people make when buying diamonds?

• Consulting experts before buying

• Buying diamonds with the same certificate grade

• Purchasing diamonds from reputable retailers

• Investing in high-grade diamonds

What should buyers focus on when purchasing a diamond?

• The diamond's position within its grade

• The color of the diamond

• The size of the diamond

• The price of the diamond