Rapaport TradeWire - Friday, December 5, 2008
==============================================
Rapaport Weekly Market Comments: Strong U.S. Thanksgiving-weekend
discounts draw large crowds on Black Friday even as Nov. suffers
record drop (-2.7%) in same-store sales. Lower-end diamond jewelry
with price points under $500 did well as retailers gave huge discounts
to clear inventory. Total consumer holiday-weekend spending was only
2% ahead of 2007 to $17 bil., and retailers are concerned they may not
see shoppers again until just before Christmas. U.S. recession
officially declared as it enters second year. Mumbai attacks expected
to slow already quiet Indian market. Big stones exceed dim
expectations as Christie's Hong Kong sale brings $33.5 mil (63% sold
by lot). Round 10.98-ct, D flawless sold for $1.9 mil. ($172,000/ct)
and a pair of round 16-caraters sold for $5.6 mil ($175,000 p/ct).
Graff buys 478-ct. rough Letseng diamond from Gem Diamonds for $18
mil. Japan's Oct. polished imports fall 17% to $74.92 million.
--------------
ANNOUNCEMENTS:
==============
================================
RAPAPORT DIAMOND CONFERENCE 2008
NOW AVAILABLE ON VIDEO DVD !
================================
Did you predict the financial crisis?
On September 8, the Rapaport Conference did.
See and hear what the experts had to say.
Speakers and Diamond-Specific Topics include:
Rajiv Mehta: Dimexon/Eurostar - Globalization
Victor Van der Kwast: ABN Amro - Banking
Rahul Kadakia: Christie's - Big Stone Boom
Gerald Celente: World Economy
Martin Rapaport: Diamond Markets of the Future
Ralph Destino: Chairman GIA - Branding
Neil Goldberg: CEO Zale - Retailing
Mark Moeller: President AGS - Are Bread & Butter Goods Toast?
James Shigley: GIA Research - Treatments and Synthetics
Order now - $100 plus shipping
http://www.diamonds.net/Conference/2008/Default.aspx
Email: IDC@Diamonds.Net
Telephone: +1-702-893-9400
---------------
RAPAPORT EVENTS
===============
Please check our events page to view
upcoming Rapaport events and show locations.
-------------
RETAIL QUOTE:
=============
"We're trying to be much more targeted and give customers a more
intimate experience with our brand [by sponsoring a lavish Damiani and
Angeleno magazine dinner party in Los Angeles]. These days, you need
to be very efficient with your marketing dollars."
---Laurie Patruno,
Damiani store manager, Beverly Hills
-----------
WORLD NEWS:
===========
---Diamantaires Leave Taj Before Siege; Industry Expresses Shock
A dinner party hosted by a leading Gujarati diamond trader saved a
number of diamantaires from the siege at the Taj hotel in Mumbai.
Varda Shine, managing director of the Diamond Trading Company (DTC)
and other senior company officials from London walked out of the hotel
to attend a dinner party shortly before gun-toting terrorists stormed
in around 10 p.m.
After the terrorist event, condolences from across the diamond
industry were expressed for the people of Mumbai. The Rapaport Group
and Rapaport India pledged its support for the spirit of Mumbai and to
continue expanding offices and presence in Mumbai. "We will continue
to support the Mumbai diamond industry through these challenging
times."
The NY Diamond Dealers Club conveyed its deepest and sincerest
condolences at the tragic loss of life. "All of us were shocked at the
revolting attacks on innocent people by ruthless fanatics, whose
purpose was to kill and maim as many people as possible."
The Diamond Manufacturers & Importers Association of America (DMIA)
expressed its collective "horror and dismay" at the acts of terrorism.
"The DMIA extends our deepest sympathies and condolences to the
families of the innocent victims who have lost their lives, and
condemns all acts of terrorism which violate the foundation of
humanity."
---Record Drop for Nov. Retail Sales Cause Downgrade
Chain-store sales in the United States fell at record 2.7 percent in
November. Given these results, the International Council of Shopping
Centers (ICSC) downgraded its prediction for Christmas holiday sales,
from an increase of 1 percent to between flat and down 1 percent. This
is the second downgrade since ICSC first predicted a sales increase of
1.7 percent in September.
---Graff Buys 478ct Letseng Gem for $18M
Laurence Graff bought the 478-carat 'Leseli la Letseng' from Gem
Diamonds for $18.4 million. He purchased the stone through SAFDICO,
the manufacturing arm of Graff Diamonds, outbidding six other
diamantaires and proving he’s prepared to pay top dollar even in these
market conditions. The diamond's selling price works out to $38,400
per carat, Gem Diamonds reported, compared with a current global
average diamond price of $90 per carat.
---Rapaport Broadcast News
U.S retail sales over Thanksgiving weekend show moderate results,
contrary to early predictions and we take a deeper look at diamond
jewelry special online for CyberMonday.
--------------
DIAMOND STATS:
==============
---Israel to Hold-off Giving November Diamond Trade Data
Israel will withhold diamond import and export data for November due
to the low level of trade experienced during the month. “The figures
for November were very low and we don’t want to embarrass anyone by
publishing them,” said country diamond controller Shmuel Mordechai.
October exports fell 46 percent from the same month last year, and the
decline in November was expected to be even steeper.
---Russia’s Year-to-Date Rough Exports Sink -33%
Russia exported 22.844 million carats of rough diamonds during the
first nine months of 2008, which was a drop of approximately 33
percent from 2007. The country’s total rough exports were valued at
$1.529 billion, revealed a drop of 39 percent from the $2.52 billion
exported in 2007.
---Japan’s Polished Diamond Imports -17% in Oct.
Japan’s polished diamond imports fell 17 percent to $74.92 million in
October 2008. By volume, imports declined 14 percent to 229,706
carats. Buying from India, Japan’s largest source for polished
diamonds, dropped 32 percent to $33.19 million, and from Israel by 23
percent to $6.82 million. Imports from Belgium increased 19 percent to
$21.3 million. For the first 10 months of the year, Japan’s polished
diamond imports fell 11 percent to $670.99 million.
------------------------
RETAIL & WHOLESALE NEWS:
========================
---Strong Start to U.S. Holiday Spending
Black Friday retail sales increased 3 percent to about $10.6 billion,
bucking the negative forecasts for the Thanksgiving weekend. Sales on
the following day however fell 1 percent to $6 billion. Online sales
in the U.S. rose 15 percent on CyberMonday to $846 million. This
online spike helped to slow the drop in online retail sales so far
this season. Online retail sales have dipped 2 percent to $12.03
billion from November 1 through December 1, compared with 2007.
---Strong Diamond Prices Help Christie’s Hong Kong Sale
Diamonds performed well at the Christie’s Hong Kong jewels sale on
Tuesday as prices proved resilient in the face of current economic
trends. Christie’s garnered $33.52 million (HKD 259.82 million) at the
auction, selling 63 percent of the 289 lots on offer. All of the top
10 lots went to private Asian buyers. The top lot, a pair of
circular-cut, D-color flawless diamonds weighing 16.11 carats and
16.08 carats respectively, sold for $5.65 million (HKD 43.78 million),
or approximately $175,000 per carat.
---Movado 3Q Sales -25%, Profit -41%
Movado Group's sales fell 24.6 percent to $135.85 million during its
third quarter. For the three months ending October 31, 2008, gross
profit was 63.5 percent of sales, compared with 61 percent one year
ago. Company profits dropped 41 percent to $15.73 million. For the
first nine months of Movado's fiscal year 2009, sales have declined
12.8 percent to $366.89 million and net income has fallen 39 percent
to $25.79 million.
---Kohl's Nov. Sales -14%, Same-store -18%
Kohl's Corporation's sales fell 13.7 percent to $1.75 billion in
November. Comparable-store sales decreased 17.5 percent. Sales for the
10 months through November 29 have fallen 1 percent to $12.9 billion,
while comparable-store sales have dropped 7.7 percent.
---Dillard's Nov. Sales -10%, Same-store -9%
Dillard's November sales fell 10 percent to $505.8 million, and
same-store sales decreased 9 percent. Sales were significantly "above
the average" in the central region of the U.S., but were significantly
below the trend in the eastern and western regions. Sales for the 43
weeks through November 29 have declined 6 percent to $5.3 billion, and
same-store sales dropped by the same amount.
---Neiman Marcus Nov. Sales -10%, Same-store -12%
November sales at Neiman Marcus fell 10.2 percent to $324 million, and
comparable-store revenues were down 11.9 percent to $318 million. The
merchandise categories in the specialty retail stores segment that
performed best included designer handbags, shoes and women's fine
apparel.
---Saks Nov. Sales -4%, Same-store -5%
Saks reported that its November sales fell 4.2 percent to $332.9
million due to “very challenging retail conditions.” Comparable-store
sales decreased 5.2 percent for the four weeks ending November 29. For
the first 10 months of its fiscal year, sales were down 2.6 percent to
$2.54 billion, while comparable-store sales declined by the same
amount.
---Nordstrom's Nov. Sales -12%, Same-store -16%
Nordstrom's November sales fell 12.1 percent to $707 million,
according to preliminary results. Same-store sales for November
decreased 15.9 percent. Year-to-date sales have dropped 6.2 percent to
$6.68 billion and same-store sales have decreased 8.6 percent.
---JCPenney Nov. Sales -12%, Jewelry Remains the Weak Spot
J. C. Penney Company's November sales dropped 11.5 percent to $1.815
billion, and same-store sales fell 11.9 percent. For nearly all of
2008, JCPenney has been citing poor sales performance for the fine
jewelry sector, a trend that continued in November.
---Macy's Nov. Sales -14%
Macy's sales in November fell 14.1 percent to $2.327 billion, and
same-store sales were down 13.3 percent. Year-to-date sales have
dropped 5.6 percent to $19.285 billion, and same-store sales have
fallen 4.8 percent.
---Finlay Extends Quarterly Loss as 3Q Sales +13%, Same-store -15%
Finlay Enterprises' third quarter sales rose 12.9 percent to $160.3
million, driven mainly by the acquisition of Bailey Banks & Biddle one
year ago. Finlay reported a net loss of $20.8 million for the three
months ending November 1, up from a net loss of $7.5 million in the
same period of 2007. Same-store sales fell 14.9 percent.
---BJ's Nov. Sales +5% But Weak Demand at Jewelry Dpt.
BJ's Wholesale Club reported that its November sales rose 5.2 percent
to $783.2 million and same-store sales were up 4.1 percent.
Year-to-date sales grew 13.7 percent to $8.1 billion, and same-store
sales are up 11.4 percent. Jewelry came in as one of the weakest
departments at the wholesale club.
---Breeden Ups Stake in Zale to 28%
Breeden Capital Partners has raised its stake in Zale to 28.46
percent. Richard Breeden first invested in the jewelry chain in
September 2007, acquiring an initial 7.7 percent stake. In January, he
upped his investment to 18.1 percent and was appointed to Zale’s board
along with James Cotter, a founding partner of Breeden Capital.
---Yehuda Diamonds Sues Blue Nile Over Non-Disclosure Practices
Yehuda Diamonds, a Blue Nile competitor, has filed a lawsuit against
Blue Nile, charging that Blue Nile does not adequately inform
customers whether the emeralds and emerald jewelry sold on its site
have been artificially enhanced. The lawsuit further accuses Blue Nile
of using false advertising and deceptive business practices. Blue Nile
responded to the charges, calling the accusations and baseless and
noting that, "nearly all emeralds sold at fine jewelers, including
Blue Nile, are infused with a colorless substance to enhance clarity.”
---Lenox Group Files Chpt. 11
Lenox Group filed for bankruptcy protection in the U.S. Bankruptcy
Court for the Southern District of New York, citing "economic
conditions and an excessive debt load." The Minnesota-based jewelry,
fine china and house wares retailer plans to secure $85 million in
debtor-in-possession financing to fund its operations while in Chapter
11 proceedings.
------------
WHO IS NEWS:
============
---ABN AMRO Diamond Head Loet Kniphorst Retires
Loet Kniphorst, global head of ABN AMRO’s diamond and jewelry
divisions plans to retire at the end of the year. Kniphorst has been
with ABN AMRO for 34 years and served as head of the diamond and
jewelry unit for the past five. No replacement has been named by the
bank. Kniphorst said he will continue as an advisor to the diamond and
jewelry division.
---Video Feature: DTC's Varda Shine on Market Conditions
Varda Shine, Diamond Trading Company (DTC) managing director, explains
the impact that the financial crisis is having on the diamond industry
and De Beers’ outlook for consumer spending, its marketing focus and
mine maintenance plan. (Video courtesy of De Beers.)
-------------
GENERAL NEWS:
=============
---Police Arrest Nine in Damiani Robbery
Police arrested nine suspects in the dramatic daytime robbery of
Damiani's Milan jewelry showroom this past February. Investigators
said the men were picked up in Milan and Sicily as part of the
investigation. The stolen diamonds and jewelry have not been
recovered.
---GIA Postpones 2009 Conference, Offers Holiday Express Service
The Second Gemological Research Conference, scheduled to take place
August 21–23, 2009 in San Diego, California, has been postponed due to
the "serious downturn in the global economy," according to the
Gemological Institute of America (GIA).
In other GIA news, the lab is once again offering its Holiday Express
Service through December 19. The program offers expedited services
upon request and makes it possible for a customer to get results
within three days, excluding shipping time.
--------------------
DIAMOND MINING NEWS:
====================
---Saad Investments Increases Stake in Petra Diamonds to 43%
Petra Diamonds reported that Saad Investments Company purchased
additional shares in the diamond mining company. Saad now owns a 43.01
percent stake in Petra, with more than 79 million shares. Saad
Investments increased its holdings to almost 36 percent in September.
---Kopane Suspends Lesotho Diamond Production
Kopane Diamond Developments has suspended production at its Liqhobong
development project in Lesotho due to the current "severe" economic
and market turbulence. The company noted that economic conditions had
caused diamond prices to fall by between 30 and 50 percent since
October 2008, adding that it was still not clear when they will return
to previous levels.
---BRC DiamondCore Suspends Operations Due to Weak Pricing
BRC DiamondCore Ltd. suspended bulk sampling at its projects in South
Africa’s Northern Cape due to the recent fall in rough diamond prices.
Mike de Wit, BRC DiamondCore's president, said that the company
expects rough prices to recover in 2009, but added that, in the short
term, there is a need to “conserve cash in light of current market
conditions.”
---Absent Additional Funds, Tahera Diamond Corp. to Close in Dec.
Tahera Diamond Corporation will close its doors if additional funding
to support its operations is not found by mid-December. The junior
diamond mining company said in a statement that its current cash
reserves will be exhausted between December 15 and December 22, at
which point it will be forced to cease operating, with no value for
Tahera's shareholders.
---West African Diamonds to Launch Diamond Production in Guinea in 1H
West African Diamonds (WAD) said it expects to start producing
diamonds from its Bomboko alluvial mine in Guinea in the first half of
2009. The company said it will initially recover about 900 carats of
“good quality diamonds” from the mine each month, with production
expected to double during the first year.
---ALROSA Cleared to Bail Out KIT Finance
ALROSA received antitrust approval for its buyout of KIT Finance
Holding. The diamond mining company agreed to bail out KIT in early
October by acquiring a 45 percent stake in the troubled bank. ALROSA’s
acquisition of KIT has sparked some concern among investors that the
diamond mining company is overexposed in its debt position.
VneshTorgBank (VTB), however will assist the mining company in
repaying its creditors -- with a loan of $1.6 billion. According to a
report from Standard & Poor's (S&P) -- which has downgraded ALROSA's
long-term credit rating from "BB" to "BB-" -- ALROSA faces debt
repayments of $1.65 billion in the fourth quarter of 2008, and a
further $1.2 billion in 2009.
-----------
ECON WATCH:
===========
Dec.4 Nov. 20 Chng.
$1 = Euro 0.782 0.803 -0.021
$1 = Rupee 49.8 50.2 -0.4
$1 = Israel Shekel 3.98 4.04 -0.06
$1 = Rand 10.29 10.78 -0.49
$1 = Canadian Dollar 1.28 1.29 -0.01
Dec.4 Nov. 20 Chng.
Precious Metals
Gold $765.10 $745.40 $19.70
Platinum $793.00 $784.00 $9.00
Stock Indexes Dec.4 Nov. 20 Chng. %Chng.
BSE 9,229.75 8,451.01 778.74 9.21%
Dow Jones Avg. 8,376.24 7,553.56 822.68 10.89%
FTSE 4,163.61 3,874.99 288.62 7.45%
Hang Seng 13,509.78 12,298.56 1,211.22 9.85%
S & P 500 845.24 752.44 92.80 12.33%
Yahoo! Jewelry Index 552.99 493.93 59.06 11.96%
USA Dec.4 Nov. 20 Chng. %Chng.
Abazias $0.37 $0.40 -$0.03 -7.50%
Birks & Mayors $0.70 $0.70 $0.00 0.00%
Blue Nile $24.26 $21.59 $2.67 12.37%
Charles & Colvard $0.25 $0.30 -$0.05 -16.67%
Collector's Universe $2.71 $2.85 -$0.14 -4.91%
DGSE Companies, Inc. $1.05 $1.12 -$0.07 -6.25%
Fuqi International $5.91 $5.64 $0.27 4.79%
JCPenney $19.72 $14.38 $5.34 37.13%
Kohl's $34.07 $24.98 $9.09 36.39%
Lazare Kaplan $4.73 $4.45 $0.28 6.29%
LJ International $0.61 $0.49 $0.12 24.49%
Macy's $7.72 $5.85 $1.87 31.97%
Man Sang $1.39 $1.40 -$0.01 -0.71%
Movado Group $11.29 $10.71 $0.58 5.42%
Nordstrom $11.76 $8.40 $3.36 40.00%
Saks $5.15 $3.30 $1.85 56.06%
Signet $8.08 $7.94 $0.14 1.76%
Sotheby's $8.58 $8.62 -$0.04 -0.46%
Tiffany $21.00 $17.86 $3.14 17.58%
Wal-Mart $54.53 $50.66 $3.87 7.64%
Zale $4.24 $8.08 -$3.84 -47.52%
EUROPE
Bulgari €4.65 €4.40 €0.25 5.68%
Citizen Holdings €3.94 €3.94 €0.00 0.00%
Esa €4.10 €3.74 €0.36 9.63%
Golay-Buchel CHF1,699.00 CHF1,800.00 -CHF101.00 -5.61%
LVMH €43.57 €39.49 €4.08 10.33%
Pinault P-R SA €35.50 €32.10 €3.40 10.59%
Richemont SA CHF20.48 CHF18.32 CHF2.16 11.79%
Sakha Diamonds €0.26 €0.27 -€0.01 -2.99%
Swatch Group CHF143.20 CHF120.80 CHF22.40 18.54%
Theo Fennell (pence) 22.00 20.00 2.00 10.00%
HONG KONG
King Fook HKD 0.38 HKD 0.33 HKD 0.05 15.15%
Noble Jewelry HKD 0.42 HKD 0.41 HKD 0.01 2.44%
Tse Sui Luen HKD 0.81 HKD 0.83 -HKD 0.02 -2.41%
INDIA (rupee)
Classic Diamond 15.00 22.20 -7.20 -32.43%
Gitanjali Gems 71.90 60.05 11.85 19.73%
Rajesh Exports 24.45 21.90 2.55 11.64%
Ren. Jewellery 23.10 18.55 4.55 24.53%
Su-Raj Diamonds 23.50 23.30 0.20 0.86%
Titan 877.65 849.25 28.40 3.34%
Zodiac JRD 11.94 11.05 0.89 8.05%
Shantivijay Jewels 150.60 150.75 -0.15 -0.10%
Shukra Jewellery 3.60 3.65 -0.05 -1.37%
Suashish Diamonds 203.85 240.05 -36.20 -15.08%
NEW ZEALAND
Michael Hill NZD0.59 NZD0.58 NZD0.01 1.72%
SINGAPORE
Gems TV Holdings SGD0.050 SGD0.065 -SGD0.015 -23.08%
Sarin Technologies SGD0.140 SGD0.150 -SGD0.010 -6.67%
MINING STOCKS
(pence unless noted)
USA
Anglo American $9.14 $7.30 $1.84 25.21%
CANADA
Archangel CAD 0.30 CAD 0.45 -CAD 0.15 -33.33%
Harry Winston CAD 4.52 CAD 6.05 -CAD 1.53 -25.29%
Mountain Province CAD 1.12 CAD 1.17 -CAD 0.05 -4.27%
Peregrine Diamonds CAD 0.38 CAD 0.37 CAD 0.01 2.70%
Rockwell Diamonds CAD 0.07 CAD 0.04 CAD 0.03 75.00%
Shore Gold CAD 0.31 CAD 0.38 -CAD 0.07 -17.33%
Stornoway Diamond CAD 0.09 CAD 0.10 -CAD 0.01 -10.00%
True North Gems CAD 0.07 CAD 0.09 -CAD 0.02 -17.65%
UK (pence)
African Diamonds 36.0 41.9 -5.9 -13.98%
BHP Billiton 1,060.0 752.5 307.5 40.86%
Firestone Diamonds 23.0 22.5 0.5 2.22%
Gem Diamonds 260.0 211.8 48.3 22.79%
Mano River 2.0 1.5 0.5 33.33%
Mwana Africa 2.8 3.8 -1.0 -25.93%
Namakwa Diamonds 35.8 41.0 -5.3 -12.80%
Petra Diamonds 74.0 70.3 3.8 5.34%
Rio Tinto plc 1,087.0 2,022.0 -935.0 -46.24%
===================
INDIA MARKET REPORT:
===================
---Polished: Local polished market very slow.
-1 point: Fair demand: +$250 whites; $150-$350 TTLC.
-2 point: Fair demand: +$350 whites; $125-$150 TTLB; $125-$400 TTLC &
$90-$110 Dark Browns.
2-7 point: Fair demand: +$350 whites; $100-$150 TTLB; $125-$400 TTLC &
$100-$120 Dark Browns.
8-18 point: Fair demand: +$650 whites; $150-$200 TTLB & $200-$450 TTLC
20 points: Fair demand: +$700 whites.
25 points: Fair demand: +$850 whites.
33 points: Fair Demand: $1400-$1600 whites.
50 points: Fair demand: $700-$800 & +$2000 whites.
75 points: Fair demand: $700-$900 & +$3000 whites.
1 carat+: Fair demand: +$1,000 whites.
Princess: -3 point: Fair demand: $200-$250 & $325-&375 whites.
+3 point: Fair demand: $$250-$300 & $350-$400 whites.
+9-18 point: Fair demand: +14 pts $600-$650 whites $225-$275
whites.
20 point: Fair demand: $350-$400 whites & $750-$800 whites.
25 point: Fair demand: $350-$400 whites.
50 point: Fair demand: $600-$1,000 whites.
75 point: Fair demand: $1,200-$1,400 whites.
1 carat+: Fair demand: +$1,500 whites.
Marquise: -6 point: Fair demand: $250-$350 & $400-$500 whites.
+7-18 point: Fair demand: $500-$650 & +14-point
$850-$900 whites.
20 point: Fair demand: $1,000-$1,100 whites.
25 point: Fair demand: $1,200-$1,400 whites.
33 point: Fair demand: $1,400-$1,600 whites.
50 point: Fair demand: $1,800-$2,000 whites.
75 point: Fair demand: $1,100-$1,400 & $2,600-$3,000 whites.
1 carat+: Fair demand: +$1,200 whites.
Tapers & Baguettes:
Fair demand: $600-$800 +5mm whites. $250-$325
2mm-2.5mm whites; $350-$400, 2.5mm-3mm whites;
$400-$450 3mm-4mm, $500-$600 4mm –
5mm & $175-$250 +2mm-3mm whites.
--- ROUGH:
1-5 point: Very good movement: $75-$140 makeables; $95-$190 crystals.
Good movement: $30-$70 makeables.
Good movement: $40-$90 OW TTLB & TTLC;
Fair movement: $5-$15 OW TTLB & TTLC.
6-20 point: Good demand: $140-210 crystals; $120-$170 makeables.
Fair demand: $40-$130 makeables; $50-$70 clivage;
$50-$90 makeables; Very good movement $80-$170;
Fair demand $60-$120 fancy shapes;
$60-$110 OW TTLC & TTLB rounds.
21-50 point: Good demand: $225-290 makeables; $160-$340 crystals.
Fair demand: $100-$210 rounds; $100-$140 crystals; $70-
$120 clivage; Very good movement $140-$220 and
Fair demand $70-$90 fancy shapes; Good demand $70-$150 &
Fair demand $20-$40 OW TTLC & TTLB.
0.51-1.00 carat: Good demand: $75-$120 & $140-$325 makeables;
$120-$240 & $275-$475 crystals.
Fair demand: $60-$90 clivage; Very good demand $210-
$310 and Fair demand $70-$125 fancy shapes;
Good demand $140-$180 & Fair demand $80-$110 OW TTLC
& TTLB.
1.01-2.00 carat: Fair demand: $200-$600 rounds; $200-$750 crystals;
$110-$150 clivage; $200-$400 all fancy shapes.
Good demand $160-$210 OW TTLC & TTLB.
2.01-3.00 carat: Good demand: $200-$1,400 makeables; $450-$950 OW
TTLC & TTLB & $325-$1,600 crystals.
Fair demand: $300-$400 clivage; $125-$400 flats &
$500-$1,000 fancy shapes.
5.00 carat+: Very good demand: $1,200+ makeables, crystals & all fancy
shapes till L color.
Mixed Lot: Good demand: $2-$50.
--------
CREDITS:
========
This week’s TradeWire has been brought to you by Jeff Miller and Leah
Granof Geffen of the Rapaport News Team.
E-mail us at news@diamonds.net
For up to the minute 24/7 news coverage visit www.Diamonds.net
And view our broadcasts at http://www.diamonds.net/news/
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