A fascinating new diamond-ownership study reveals that New York ranks #1 in quality, while nearby Maryland rates #1 in size.
The survey by WP Diamonds, which specializes in the buy-back of diamonds, jewelry and watches, reviewed market data based on 15,000 consumer inquiries covering all 50 states. With this data, WP Diamonds was able to assign rankings to the states based on diamond value, diamond size and diamond shape.
The states that rank highest for the average value per carat are New York, Florida, California, Connecticut and Maryland. Rounding out the top 10 are New Jersey, Massachusetts, Kansas, Tennessee and Colorado.
The states where size really matters are Maryland, Michigan, Illinois, Alaska, New York, Texas, Florida, Virginia, Arkansas and California.
It's interesting to note that four states — including New York, Maryland, Florida and California — made the top 10 on both lists. New York is #1 in quality but also #5 in size. Maryland is #1 in size and #5 in quality.
The report also affirmed that the most popular diamond shape is round (55.38%), followed by princess (22.07%), marquise (4.8%), emerald (4.47%), cushion (4.12%), oval 2.67%, radiant (2.58%), pear (2.54%), heart (0.71%), Asscher (0.19%) and baguette (0.09%). WP Diamonds noted that the oval cut has gained in popularity since the company's first year in business. The oval now ranks sixth, up two places since 2010.
Even though the round and princess shapes account for more than three-quarters of the diamonds monitored in the survey, WP Diamonds was able to determine the states in which consumers are willing to step out of the box. For instance, marquise diamonds are most favored in Louisiana, Illinois, Indiana, Virginia and Missouri, while emerald-cut diamonds are most popular in Rhode Island, Kansas, Texas, West Virginia and South Dakota. The cushion cut finds a receptive audience in Mississippi, Montana, South Carolina, Texas and Delaware. The up-and-coming oval shape gets a boost from Texas, Connecticut, West Virginia, California and Oregon.
WP Diamonds also reported the states with the most expensive second-hand jewelry. These include California, Florida, North Dakota, North Carolina and New Mexico.See the full report here...Images: Courtesy of WP Diamonds.