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RAPAPORT... The Diamond Trading Company (DTC) said prices would rise on average of slightly more than 5 percent, and up to 15 percent on higher quality goods, at the sixth sight for the year taking place this week at its London and in Africa.
DTC had previously confirmed the price hike but did not say how much the increase would be.
The company committed to announce cumulative price changes at three points during the current supplier of choice calendar: ahead of its annual results and at the sights preceding the year’s two major trade shows in Las Vegas and Hong Kong.
While DTC will be providing its next cumulative price update at the August sight, the company said in a letter to sightholders, “We thought it would also be useful for you to know some more about the price increases we have made at the July sight, the overall effect of which is plus 5 percent.”
Mahiar Borhanjoo, DTC’s sales and client services director, explained in the letter that the decision to provide more detailed price explanations in part was based upon feedback received at the most recent Sightholder Consultative Committee in April “where delegates expressed a keen desire to receive a more detailed breakdown of future price changes.”
DTC revealed the following average price increases to take effect at the July sight:
Polished Sizes Polished Qualities
+VS SI
+1ct 5 – 15% 10 – 15%
+20pts 5 – 10% 3 – 5%
Melee 3 – 10% 2 – 5%
Stars 0 – 5% 0%
Goods producing I quality polished remain flat, DTC said.
“In arriving at this pricing approach, we have been closely monitoring the polished diamond market and, using data from multiple sources, have adjusted prices while taking a long term and sustainable approach to our pricing,” Borhanjoo said.
The DTC July sight runs this week Monday through Friday (July 7-11.)
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