Positive sentiment as US and Belgium markets close for
Christmas. Dealers now focused on Chinese New Year demand. Trade optimistic for
2018, with expectations for global economic growth as US passes most drastic
tax overhaul in 30 years. Cutters concerned about tight profit margins ahead of
anticipated 1Q rise in rough prices. Graff buys 476 ct. Sierra Leone Meya
Prosperity rough diamond for $16.5M. India Nov. polished exports +50% to $1.8B,
rough imports +64% to $1.9B. US Oct. polished imports -14% to $1.8B, polished
exports -5% to $1.2B. Very strong year for pink diamonds as combined Christie’s
and Sotheby’s jewelry sales exceed $1.1B. Rapaport wishes everyone happy
holidays.
Fancies: Fancy shapes mixed. Curves better than squares. Ovals strongest category,
followed by Pears and Cushions. Emerald and Radiant okay, but Princesses still
weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals,
Pears and Emeralds, with limited supply. US demand supporting market for
commercial-quality, medium-priced fancies under 1 ct. Far East demand improving
as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies
illiquid and hard to sell, even at very deep discounts.
United States: Positive retail sentiment and steady store traffic. Good demand for
jewelry in the mid- to upper price range. New York polished suppliers satisfied
with season. Dealers still sending goods out on memo with hope they won’t
return. New tax laws will increase disposable income, which is expected to help
jewelry sales.
Belgium: Trading quiet with businesses closing for Christmas-New Year break.
Some last-minute calls for 1 ct.-plus, I-K, VVS-VS diamonds, which are in
short-supply. 1 ct., 3X strong. US
and European demand stable. China steady. Rough trading expected to remain
quiet through the holiday season.
Israel: Polished trading stable, despite
slight slowdown during Hanukkah. Dealers satisfied with US and Chinese holiday sales.
Christmas orders complete and polished inventory levels reduced, with little
new production available. Focus shifting to China. Steady demand for 1 ct.,
G-I, VS and for 1 ct., J-L, VVS-VS2 diamonds.
India: Improving sentiment, with better Christmas
orders than last year. Steady Chinese New Year orders projected to
continue through mid-January. Manufacturers maintaining factory operations with
lots of smaller, cheaper rough coming into the market. Rough trading quiet,
with cutters concerned about profit at current price levels.
Hong Kong: Positive sentiment, with dealers and
jewelers encouraged by Christmas orders. Steady demand for 1 ct., F-H, VVS2-SI2
(3X, no-fluorescence) diamonds. Colored diamonds in good demand and offering
better margins than colorless. Large fancy pinks selling well. China retail
better than Hong Kong as Chinese tourists cut down purchases abroad in favor of
local spending in mainland.
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