Positive sentiment despite lackluster May
trading. Rising expectations for JCK Las Vegas with some concern the show’s
weekday schedule will limit retailers’ attendance. Suppliers trying to protect
polished profit margins after rough prices rose 1% to 2% at last week’s $520M
De Beers sight. Graff buys 373.72 ct., D, type IIa rough for $17.5M
($46,935/ct.). Sotheby’s Geneva sells $151.5M (90% by lot) as pear-shape, 14.54 ct., fancy vivid blue, IF diamond fetches
$42.1M ($2.9M/ct.) and matching pear, 16 ct., fancy intense pink, VVS2 diamond
sells for $15.3M ($959,636/ct.). Christie’s
Geneva garners $95M with heart-shape, 92.15 ct., D, FL diamond selling for $15M
($162,611/ct.).
Fancies: Steady demand for Pears in the Far East, with Ovals overtaking Pears as
the strongest shape in the US. Shortages of fine-quality large Pears and Ovals.
Cushions stable. Emeralds selling better than Princesses. Some demand for big
fancy shapes, but buyers extremely picky. Improving demand for Radiant, 3.01 to
9.99 ct., D-I, SI1-SI2 elongated stones. Large price differentials between
excellent- and average-cut fancies. Off-make, poorly cut fancies illiquid and
very hard to sell, even at very deep discounts.
United States: New York trading stable.
Sentiment improved as demand picked up in March and April after a slow start to
the year. Dealers preparing for Las Vegas shows, looking to assess retail mood
ahead of 2017 holiday season. Scarcity of nice-make, marketable diamonds
(RapSpec A2). Steady melee demand. Retail jewelry market stable, with online
sales compensating for slowdown among segments of independent jewelers.
Belgium: Polished trading slow.
Buyers concentrating on narrow selection of goods they know they can sell.
Shortage of better-quality RapSpec A2 diamonds. Steady demand for 0.30 to 0.50
ct., D-H, VS-SI diamonds and improving demand for larger sizes above 3 ct. SI’s
selling in all sizes. Positive sentiment in the rough market with strong
trading after De Beers sight.
Israel: Polished market stable.
Dealers optimistic about Las Vegas shows. Suppliers shifting to niche products
like color diamonds and fancy shapes in search of better margins. Steady demand
and low availability for 0.70 ct., 1 ct., and 1.50 ct., J, SI1 diamonds. Good
demand and strong prices for oversize 1.40 ct. and 1.80 ct. diamonds. Oval, 1
to 3.99 ct., F-I, VS2-SI2 strongest item among fancies.
India: Suppliers preparing for
Las Vegas shows. Some companies sending fewer personnel as they expect lower
retail visitor traffic. A few large diamond manufacturers presenting jewelry
lines in Vegas. Good demand for SI’s in all sizes, with Chinese jewelers
shifting to lower clarities. Rough trading steady after De Beers limited supply
to $520M at May sight. Polished production continues to rise.
Hong Kong: Polished trading slow,
but dealers expect stronger activity in June, with improvement in Chinese
demand and retail jewelry sales. Good demand for 0.30 to 1 ct., F-M, VS-SI
diamonds. Rising interest in color diamonds and gemstones. Slow traffic
reported at Shanghai International Jewellery Exhibition (May 10 to 15).
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