Economy Bytes: Diamond Dilemmas Call for a Creative Change
One sub-industry experiencing a particularly low point lately is that of the international diamond industry. Sales and demand are significantly down overall, and have been on a substantial downward trend since last September, following the fail of several key banks and firms with interests in the diamond market. Retailers report that customers still seem to stay true to diamonds for engagement and wedding rings, though the general extravagance of former days in terms of carat size, cut complexity, and setting value has followed the gloomy sentiment and taken a dip. And though the Christmas and Valentine's Day holiday seasons are usually bustling periods for the diamond trade, the industry has been presented with a fairly dismal report.
The lull in the diamond industry doesn't just affect retailers, however. The many thousands of people employed by DeBeers and related companies in developing countries are feeling the crunch of the credit crisis, as well. From the highly productive Gujarat mines of India to the prized mining and polishing centers strewn throughout Namibia and other poor African nations, people with no other vocation to turn to are finding themselves jobless or facing enforced pauses in production, stemming from a simple and harsh drop in worldwide, and particularly America, demand. While some workers are being paid during the mandatory vacations, and optimistic retailers insist that demand will rise again to outweigh supply, the current status is unmistakable.
But the glitz and glamour of diamond jewelry is a goal easily attained by the age-old abilities of costume jewellery. Swarovski crystals are world renowned for their dazzling sparkle and high value, despite a perfectly practical price tag. From elegant chandelier earrings dripping with Swarovski gems to necklaces and bracelets that glitter with a thousand points of pure, multicolored light, costume jewelry knows how to embrace the attitude and aptitude of the diamond.
This bold necklace features pear-cut clear Swarovskis that impart all the shine and shimmer of the genuine article.
For a truly impressive statement, this super-sized clear Swarovski crystal is as affordable as it is attractive.
Labels: costume jewellery, diamond jewelry, diamonds, economy, fine jewelry alternatives, swarovski crystals