Diamonds May Not Be Forever

In this economy, everything seems to be going up—gas prices, college tuition, and now diamonds. In a recent report substantiated by DeBeers, the world’s biggest diamond producer, “Experts estimate that all known supplies of diamonds will be depleted within 30 to 40 years.” While the exponential costs may seem daunting, you may want to consider using this to your advantage. As the world diamond sources are diminishing too quickly to meet long-term demand, consumers may plan to invest in diamonds now before the costs become grossly inflated.

Leo Hamel, legendary jewelry retailer and local success story, has capitalized on the fluctuating market through his bifurcated approach to the business of fine jewelry. His market-savvy business model offers consumers a spectacular destination retail storefront as well as several outposts for vintage/estate jewelry buying. The growing demand and increasing rarity of the diamonds will likely make it difficult for costs to stay put. This is where Leo Hamel anticipates growth in the vintage sector, and is ultimately one step ahead of the rest.

Serving San Diego’s jewelry needs for over 30 years, Hamel is not new to the complexities of a fluctuating market. With modest beginnings at the San Diego Swap Meet, Leo Hamel Fine Jewelers has developed into an empire with 8 stores, including his recently opened El Cajon boutique. He also has plans to open a ninth location in National City.

He attributes his growing success to a unique focus in both the wholesale and retail arenas. This simple approach coupled with a special focus on customer service has allowed Hamel to maintain a healthy payroll and also remain a resource for nearly all of his customers' fine jewelry needs and in turn, deepen his knowledge of vintage pieces, precious metals, gems and diamonds. Ultimately, his consideration to market trends and unique approach to jewelry sales have transformed Hamel’s swap meet stand into the largest full service fine jewelry store in San Diego.