Engagement ring and wedding band season

Engagement ring and wedding band season are upon us. Consumers in the market for engagement rings or wedding bands, I recommend you make your move sooner rather than later. Precious metal prices have once again broken through a new high since the last time we blogged. The stock market is getting crushed on an almost daily basis. Commodities like gold, silver, oil and even diamonds will be the security hedge against floundering currencies world wide. This trend may not have an “enormous” impact on your engagement ring or wedding band purchase, but it can be frustrating to discover the ring you priced out two months ago is now 5%-20% more expensive just because you waited. Dealers are struggling with price points themselves. They want to turn and burn inventory and make those profits while they can, but it’s tough to sell something today when you are pretty certain in a month’s time, you could have made substantially more margin. I guess in many ways, our peace in this business boils down to a wise man’s words: “be content with an honest business that does smaller margin, but higher volume.”