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DTC June Sight $600M to $630M
Prices +5% on larger goods, no change in assortments
Jun 6, 2007 7:40 AM
By Avi Krawitz
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RAPAPORT... Reports out of the fifth Diamond Trading Company (DTC) sight of 2007 indicated that the previously announced price increase mainly affected larger goods. Right before the June sight, which runs through June 8, 2007, the DTC informed its sightholders it would raise prices on average by a single digit percentage point.
Market sources estimated the price adjustment came in at about 5 percent, but lower quality, smaller goods were not affected by an increase. One sigtholder added that prices on rough goods yielding high demand polished rose across the board.
The June sight had an estimated value of between $600 million and $630 million -- roughly an 8 percent increase from estimated value of sight number four.
"The price increase affected larger, cleaner goods," said one DTC sightholder, but that the hike had already been reflected in market prices leading up to the JCK Vegas Show.
Another source said that the price increase was not accompanied by a significant change in the assortment of goods provided by DTC.
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Tags:
DTC, JCK, Sightholders
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