|
|
|
|
RAPAPORT... The 2010 Hong Kong International Jewellery Show ended on Tuesday with exhibitors feeling satisfied that the market could sustain the new level of polished diamond prices that has been observed recently.
“It was a good show. Prices were strong and while there was price resistance, buyers bought at the tougher prices,” said Anshul Mehta of Mumbai-based diamond manufacturer Rosy Blue.
 Others agreed that there was a lot of negotiating on the show floor, but that buyers eventually raised their offers.
“Even if manufacturers didn’t get what they initially wanted, they still sold at a decent price,” added Hanan Rapaport, the Far East sales manager for Ramat Gan-based Avlas Diamonds, which is not associated with the Rapaport Group.
The show's organizers, the Hong Kong Trade Development Council (HKTDC), reported on the opening day that approximately 4,700 buyers representing 78 missions from 74 countries and regions were expected to attend the event. The final attendance tallies are expected to be published in the coming week. Vendors reported, however, that Indian buyers were the most prevalent group, with visitors from China and Taiwan also being well represented.
Reports also indicated that exhibitors met the strongest price resistance from Chinese visitors.
“The Chinese buyers have not digested the new prices as the Israelis did two to three months ago,” said Alon Garty, the general manager of Windiam Hong Kong.
Similarly, Milin Jhaveri, the marketing director of Mumbai-based D.A. Jhaveri, noted that the Chinese found the goods expensive, but that they eventually bought “because there is a shortage of goods on the market.”
Garty cautioned that the price resistance experienced at the show may cause prices to stabilize or at least not continue to rise as they have in the past few months. He explained that at last year’s show, which took place in the midst of the financial crisis, traders had forecast it would take up to five years for prices to recover.
“We’re already back to [pre-downturn] level, so I don’t think it’s a healthy market. I think it will slow a bit and prices will come down two to three percent on certain items,” he said.
Others dispelled the prospect of a second downturn. Mehta noted that vendors sold in cash at the show and have managed to sell off old inventory at rising prices in the past few months. He added that prices for pique goods have strengthened in India and that there are shortages in these goods.
Reports indicated strong demand for 1-carat-plus stones. Indian attendees were aggressive in their trade and able to offer a large selection of Triple Ex goods in 0.3-carat, 0.5-carat and 1-carat goods.
Jhaveri, who specializes in solitaires, reported good demand for 1- to 3-carat, G-I, VVS-Vs goods, as well as for pointer sizes. Mehta indicated strong demand for 3 carats and higher in lower colors, while 1-carat items and dossiers also sold well. Star and melee goods, H+, VS+ for retailers were hot.
Avlas Diamonds' Rapaport, whose company focuses on fancy shapes, reported that high-quality fancy shapes in 1 to 3 carats were in demand, with pear, marquise, oval and emerald shapes proving popular. Others noted that prices for fancy color diamonds have strengthened, with pinks and yellows approaching their 2008 levels.
LH
|
|
|
|
|
|
|
|
|
|
Previous Item
| Back to List |
Next Item
|
|
|
|
|
|
|
|
|