HomeNewsSurat: Solitaire prices drop 15% to 30%, sparkle back in Dhanteras demand...

Surat: Solitaire prices drop 15% to 30%, sparkle back in Dhanteras demand | Surat

SURAT: If diamonds bring a sparkle to your eye, now is the time to snap up solitaires. This Dhanteras, there’s been a massive price correction ranging between 15% and 30% depending on the category of solitaires. The drop in gold prices over the past two months and the reduction in diamond prices have buoyed the spirit of jewellers who expect to see good business.
Industry insiders reveal international factors, mainly a reduction in supply to China due to an internal crisis, have caused price of solitaires to drop drastically over the past few days. Dinesh Navadiya, chairman of Indian Diamond Institute, said, “The supply to China has dropped due to uncertainties and restrictions there. As a result, international prices have fallen too. This has created a tough situation for manufacturers but is good for customers.”
Jewellers say a solitaire can cost over Rs 3 lakh. As per current pricing, a solitaire which is sold for Rs 10 lakh can be purchased for Rs 7 lakh, they add.
“Overall, market is good this Dhanteras, and it will remain so for next few months. This is the best time to buy solitaires as the prices have dropped up to 30% depending upon the category,” said Salim Daginawala, president of Surat Jewellers’ Association, adding: “Jewellers believe people will be drawn by the reduction in solitaire prices as well as the drop in gold prices by 12% to 15%.” Snehal Pachchigar, a jeweller, said: “There is a limited supply of good quality solitaires. The current pricing is very attractive, and we are receiving orders for both solitaires and gold jewellery.”
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