Diamond market quiet
over Jewish holidays. Slight improvement in India ahead of Bharat Diamond Week,
with buyers looking for polished before Diwali break (Oct. 27). Shortages in
RapSpec A3+, nonfluorescent goods as manufacturers maintain low production.
China retail sales +8.5% during Oct. 1 Golden Week. Luxury brands shifting
high-ticket items from Hong Kong to Shanghai stores. LVMH 3Q jewelry &
watch sales +8% to $1.24B. Sotheby’s HK sells $38M, with 10.64 ct.,
purplish-pink, IF diamond selling for $19.9M ($1.9M/ct.); auction also
reflected sluggish big-stone market as 80.88 ct., D, FL diamond fails to sell.
Rapaport offices will be closed on Oct. 14-15 for the Jewish holidays.
Fancies: Fancy
shapes soft, reflecting slowdown in overall demand. High-end collection goods
weak, as dealers and consumers are shifting to lower price points. Some brands
with bespoke requests are paying a premium for rare items and well-made
fancies. Ovals for fashion jewelry moving well, especially 1.50 and 2 ct., G-H,
VS and H-K, SI2. Marquises and Princesses weak despite reduced manufacturing.
US sustaining market for commercial-quality, medium-priced fancies under 1 ct.
Chinese consumers seeking fancy shapes at better prices. Off-make, poorly cut
fancies illiquid and hard to sell, even at very deep discounts.
Rapaport News will resume publication of the country
market comments after the Jewish holiday period.
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