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Steady Diamond Demand at Upbeat Hong Kong Show
Mar 7, 2013 8:52 AM
By Avi Krawitz
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RAPAPORT... Strong visitor traffic and good demand for select polished diamonds helped lift the mood among diamond dealers at this week’s Hong Kong International Jewellery Show.
Most were upbeat about the show and said it surpassed expectations and outpaced business levels for all of 2012. There were a lot of inquiries for goods, but these did not necessarily translate to strong sales as there remains notable discrepancies between seller asking prices and buyer offers.
Sellers were pushing prices higher but buyers remain relatively conservative, despite their improved appetite for goods.
Buyers from Mainland China were most prevalent at the show, and their interest surprised some who noted that the recent Chinese New Year was not particularly positive. Others opined that Chinese buyers have not been in the market for the past nine months and have depleted their inventory.
Still, buying was steady but selective as neither Far East retailers, nor southeast Asian counterparts attending the show, are building up excess inventory.
The show opened on March 5 and continues through March 9.
Here are some of the trends that emerged from the show:
• Strong demand for Gemological Institute of America (GIA)-certified 0.30-carat to 0.50-carat, H-I, VS-SI goods.
• Excellent demand for triple-EX certified stones with shortages in the market.
• Demand for round, 1-carat to 3-carat goods is stable.
• Better quality VVS+ clarity stones remain weak.
• Commercial quality fancy shapes are strong, with particularly good demand for princess, pear emerald, marquise and oval shapes.
• Cushions and radiant relatively slow.
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Tags:
Avi Krawitz, diamonds, Hong Kong International Jewellery Show, Rapaport
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