Demand for engagement rings is going to generate another big year for weddings, as delayed weddings originally scheduled for 2020 and 2021 were pushed to 2022 and 2023.
2022 and 2023 look to be the “year of the wedding” with the largest number of celebrations in 40 years expected, as pandemic-delayed couples head to the altar.
Sales of engagement rings in the three months ended April 30, were strong for engagement rings costing more than $3,000.
Diamond prices have risen between 15 percent to 20 percent over the past six months. Some of that increase is due to sanctions on diamonds mined by Russia, the world’s biggest source, due to Russia’s invasion of Ukraine.
How will this impact Fine Jewelry owners?
Your Jewelry may be Worth more than you think!
Your current insurance coverage may no longer cover the replacement cost of your engagement ring.
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