Diamonds and other jewels often carry a high price to convey an image of high quality or uniqueness. This type of pricing is known as

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Prestige pricing is the practice of pricing products higher to reflect their perceived value and quality. Diamonds and other jewels are often associated with luxury and prestige, so they are priced accordingly to maintain the exclusivity and desirability of the product.

Diamonds and Other Jewels Often Carry a High Price to Convey