Engagement Rings for a Blue Christmas
NEW YORK (Business Wire EON/PRWEB ) December 11, 2008 --
According to TheKnot.com,
40 percent of engagements occur between November through February and
retailers know that one item that remains popular through the shopping
season is engagement rings.
“The trend is leaning towards non-diamond ring styles.” Ellen
Crawford a sales representative at Tiffany’s
noticed the rise in alternative stones lately and wondered if it was due
to the economic climate or just the holidays.
Auction Records for non-diamond engagement rings are a bright spot
for Christie’s:
“People want to buy rarity and value. They want diamonds and color
gemstones that are not easy to replace,” said Rahul Kadakia, head of
Christie’s North America jewelry department. He remarked about a recent
sale of a cushion-shaped “blue velvet” sapphire. The 42.28 carat, rare
color ring sold at nearly $3.5 million.
Andy Cohen, a trader in Geneva, mentioned that the sapphire set a
world record as world markets have fallen. “In this market there is
interest in things that are truly rare and irreplaceable,” Cohen had
said to Reuters.
That interest can also be found in the retail jewelry market when
people are looking for true value.
However, another way to retain value and keep the surprise factor
up is to find a unique piece. And a blue sapphire set engagement ring is
definitely different.
The
Natural Sapphire Company says 80% of their sales are
for sapphire engagement rings. “Sales have been up all
year, mainly due to the rise in popularity for non-diamond engagement
rings. Since Princess Diana chose a sapphire engagement
ring, it’s become a growing trend.”
Then again there are the ultra rich, who too are considering blue
diamond engagement rings. On December 10, 2008 Christie’s set a new
world record for the highest price ever for a diamond. The
Wittelsbach Diamond, a 35.56-carat cushion-shaped gem, often compared to
the Hope Diamond, sold for $24.3
million US.
The rare gem was snapped up by billionaire diamond-dealer Laurence
Graff, Christie’s spokeswoman Alexandra Kindermann said.
Blue is the color for the new year.
MULTIMEDIA GALLERY http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5851006
See the original story at: http://eon.businesswire.com/releases/engagement_rings/engagement_ring/prweb1738914.htm
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