Diamond Engagement Rings Really Are Forever

While sapphires dominated the end of 2010, and emeralds are poised to make a splash in 2011, it seems that diamonds are still the one to beat.

Prices for the enduring gemstone were up 10.3 percent in 2010, and are predicted to continue to recover to pre-recession levels, according the a report by the Rapaport Group, an international group of companies that support the development of free, fair, efficient and competitive diamond and jewelry markets.

The stats were boosted by the strong retail performance over the 2010 holiday season and demand in India, China and the Far East.  The report, entitled “Diamond Markets in Recovery Mode” also stated that overall, polished diamond prices and trading returned to early 2008, pre-recession levels.

In more romantic terms, that means that diamond engagement rings are, once again, set to dominate the bridal industry.  For example, The Venetian 5005P is the perfect showcase for bling created by lining up smaller diamonds for a greater shine.  The Princess cut diamond center is surrounded by a halo of smaller, Round cut diamonds, and the twisted shank is enhanced by pave’ set Round cut diamonds as well.  Even the scrolling design under the shanks has smaller diamond bezels, and the total end result is network of diamonds that sparkle anyway the light hits it.

Because of the clear color of a traditional diamond, and depending on the facets of the cut, the sparkle created by the light reflection on a diamond is what has captivated people for centuries, and has become valued over all other gemstones.  That, coupled with more industrial production, designers are always looking to showcase as much of the diamond as possible in their designs.  At Verragio, each ring is set using the Lumino setting, which allows the diamond to be seen from every side and allows for 75 percent more light reflection. 

The Classico 0352 is the perfect engagement ring design to showcase the Lumino setting from Verragio.  Featuring a raised split shank, which allows for a row of smaller Round cut diamonds that sit directly on the finger, it is a simple and elegant paring for the Round cut diamond center.  Using the Lumino setting, the Round center almost appears to be suspended in the air, and is visible from every angle, from the top to the tip. 

Classico-0352 diamond engagement ring from Verragio

As for the diamonds themselves, the market is set to continue to improve, and that while economic recovery in the U.S. will take time, but that globally the diamond market is poised for growth in 2011, according to the Chairman of the Rapaport Group, Martin Rapaport

“The trade is advised to enjoy the ride as long as interest rates remain low. Avoid speculation and maintain liquidity,” he said.

Fads may come and go, but a diamond, it seems, really is forever.

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