LONDON, England – Diamonds may be forever, but not so much for diamond prices. The price for a girl’s best friend is dropped by around 9 percent since last July, taking the price per carat for rough stones from $152 to $130.
Petra Diamonds of London, and other mining companies sell the rough stones to cutters and polishers, but the cutters and polishers have been selling off large chunks of their inventory to raise cash.
And that’s because the Antwerp Diamond Bank in Belgium closed, which was their go-to source for loans to buy rough stones.
But don’t expect prices for diamond rings to go down. That’s because the price for gold and other metals are still up there.
And, speaking of diamonds.
Brikk has new line of luxury iPhones: the Diamond Select. The top of the line has 12.8 carats of diamonds, and costs about $57,000.
And speaking of iPhones, Apple posted the biggest quarterly profit of any corporation in the history of the human race: $18 billion in the last quarter of 2014, thanks to sales of more than 74 million iPhones, diamonds not included.
So, how much is $18 billion?
The Pentagon figures the air war against ISIS in Iraq and Syria costs about $3.03 billion a year.
That means Apple’s net profits could fund five years of the air war.
On the other hand, we’ll spend about $18.6 billion this year on cards, candy, and other Valentine’s Day gifts, a little more than Apple’s fourth-quarter profits.
Yeah, but who can put a price on true love?