Saturday, July 5, 2008

Super-Rich Feel the Price Pinch

Makes you feel all better, doesn't it, shit-eating 'murkns?

"Price increases for rarest diamonds expected to slow

The rapid rate of increase in wholesale prices of rare polished diamonds is unsustainable, but for now the growing number of super-rich are paying rising prices for top-tier diamond jewelry. Charles Wyndham, founder of PolishedPrices, a leading index of wholesale diamond prices, said prices of larger, rare, near-flawless gemstones had shot up by roughly 200 percent over the past 18 months. The surge has been driven by increased interest from a growing number of multi-millionaires in emerging markets, a shortage of rough diamonds, and the dollar's slide, he said (Reuters)."