A new survey looks at which states prefer which diamonds
New Yorkers like better-quality diamonds, but size matters more to Marylanders, according to a new survey analyzing state-by-state data from some 15,000 trade-ins by WP Diamonds, a division of White Pine Trading.
The survey analyzed trade-ins coming to partner retailers and the WP Diamonds website, according to vice president of marketing Matthew Howe.
The study tracks “what people have in their jewelry boxes,” Howe says. “It is not the same as a retail study. It is more of an ownership study.”
Still, the results are intriguing, and in some cases surprising:
– Consumers in New York, Florida, and California own the best quality diamonds (meaning highest average value per carat).
– However, Maryland, Michigan, and Illinois top the list when looking at which consumers own the biggest diamonds.
“You see patterns emerge,” says Howe. “Maryland is not at the top of the list of best quality, but it tops the list for biggest diamonds. Michigan is number two for biggest diamonds, but it’s way down the list in terms of quality. Quality doesn’t always correlate to the sizes being bought.”
– When looking at highest average secondhand jewelry values (not just diamonds), the leading states are California, Florida, and North Dakota.
While it’s not surprising that Florida, famed for retirees, ranked high, Howe was surprised by the appearance of North Dakota—although the company had only a small sample size.
– As far as most popular shapes, rounds still rule, accounting for some 55 percent of trade-ins. But princess cuts were a strong second, with 22 percent, followed by marquises at 4.8 percent, and emeralds at 4.7 percent.
The full survey can be seen here.
(Images courtesy of WP Diamonds)