If you have been to any European (or international) airport in the last 6 months, you will surely have noticed an increased number of….Chinese travellers. I have certainly noticed them. Largely because they form large queues for the customs counter, which I used to saunter up to without any trouble. Not now – tax-free has become popular. Grumble grumble.
It is also suddenly apparent in Dubai. Chinese shop assistants grace all the designer stores….where normally it was only Russian assistants that gave away the nationality of the serious clientele. What happened in China 6 months ago for such an obvious increase to have taken place? I am very curious. Anyhow…how does this post relate to diamonds I hear you say?
Well, along with hotel rooms, designer bags, flights around the world etc…the Chinese are buying gold and diamonds and, according to my source at the London Diamond Borse, they love solitaire diamonds. Thus the price for a solitaire diamond has practically doubled since this time last year! Great news for those who already own a few of the stones…although, you might want to consider re-valuating for your insurance, but slightly annoying for anyone who has been saving up for something special…you gotta keep saving!
And if you’ve got a bit of cash languishing in the bank, earning you a pittance in interest….or devaluing against inflation in most cases, why not treat yourself to those diamond earrings or that Cartier watch you had your eye on?! The Chinese don’t look like they are going to retreat any time soon – so the value can only increase.
You may also take this opportunity to subtly persuade your loved one to “invest” in such a piece for you – men respond better to “it’s an investment opportunity” than “because they are so beautful and sparkly!”