RAPAPORT… Marriage is a time-honored tradition, and one of its most important elements is the diamond engagement ring. Couples today are more discerning than ever before. Size, style and cut all matter in the search for a diamond ring that expresses the ultimate commitment.
Weddings and love are always in style and a diamond ring that symbolizes that lifetime commitment is an important purchase for the starry-eyed couple. When it comes to diamonds, size really does matter as modern brides say “I do” to larger stones.
“The center stone size is increasing,” says Peter Storm, principal of the San Mateo, California, company bearing his name. “When our parents married, a half-carat was a real treat. Today the center stone is rarely under 1 carat and it’s usually 2 to 4 carats.”
As consumers have become more educated about diamonds, cut has become increasingly important. “Color is more important than clarity, but we’re interested in selling great make, then the customer dances to the music and the music is the cut,” comments Michael Bogosian, designer for the Los Angeles, California–based firm, Michael B.
In agreement is Bill Gould, director of marketing for diamond house Kwiat, headquartered in New York City. “We’ve been working on the Kwiat Tiara Cut to make diamonds bigger and brighter. The cut has more surface and returns more fire and light. We’re getting cuts to our recipe in all shapes,” reports Gould, who notes that the radiants and squares are the most popular of the fancy shapes. Owner of New York–based Kurt Gaum, Blake Soper, also finds that make is becoming more important. “More and more retailers are looking at make with the Gemological Institute of America (GIA) and American Gem Society (AGS) putting it on their certs. Retailers can explain how cut makes a diamond more beautiful and brilliant.”
While round remains the number one seller, in fancy shapes, radiants rule, with cushions and Asschers getting some play as well. “Radiants do well because they look bigger,” observes Moshe Maidi, vice president, Maidi, New York, who mentions that there is some demand for colored diamonds as center stones in bridal.
Also noticing a trend to color in bridal is Ana Costa, manager for New York designer Sam Lehr. “We’ve been selling more color lately,” says Costa. “New brides are buying yellow sapphire and second-time brides are buying yellow diamonds; it’s an upgrade.”
Couples shopping for diamond engagement rings are looking for higher-color diamonds, E to G, with those on a tighter budget opting for an H color. Clarity hovers in the SI and above range.
Setting is important on a number of levels. The setting is what showcases the diamond, it reflects the bride’s personal tastes and it is where retailers can make a more significant margin. The profit on a diamond is often slim, but a mounting can bring in a tidy sum for the retailer.
While a diamond may be forever, mounting styles change with time. The micropavé mania of past years is beginning to wane as brides’ preferences shift to more contemporary looks. “The style is away from vintage and into more modern,” remarks Amy Pollack, vice president marketing for Los Angeles, California–manufacturer Stardust. “Baguettes are also coming back.”
While Soper reports that classic mountings for engagement rings are the biggest percentage of his business, Storm has another story to tell: “People want something fresh in engagement rings. They want something distinctive. The mounting is just as important as the center stone. People want a platinum mounting that is spectacular and platinum can be used to sell a nice stone and mounting.”
Even though there is a move toward more contemporary, cleaner styles, micropavé, with its vintage feeling, remains popular, according to Bogosian, who holds a copyright on his micropavé collection. Recognizing that micropavé is still desired by brides-to-be, but that tastes are changing, Kwiat has married vintage-inspired micropavé with a lower setting that is more modern in feeling while also being more wearable.
U.S. Census statistics show that there have been 2.2 million to 2.4 million weddings annually since the 1980s and with approximately 85 percent of all brides receiving a diamond engagement ring to seal the deal, it’s a category that ensures a steady customer base.
