RAPAPORT... This year’s BaselWorld, held weeks earlier than in previous years, was ripe with positive attitudes that were reflected in strong sales in both jewelry and watch arenas. Unseasonably warm weather seemed to heighten the sunny mood for the 100,700 visitors, up 7 percent over 2009, and 1,915 exhibitors, and even though the dollar was weak compared to the euro and Swiss franc, this had already been anticipated, and didn’t hinder buyers.
Indeed, exhibitors canvassed said they were writing up three to ten times as many sales as 2009, with some exhibitors saying their dollar volume of sales was up by 30 percent.
According to Steve Bloom, owner and president of Israel-based Bloom Fine Jewelry Ltd., “Business seems to be up a bit this year compared to last year. A major change is the mood, which is definitely more positive. Customers seem to complain less and are certainly more optimistic.”
Retailers from around the world seemed positive, too. Most were on the hunt for diamond goods that fit nicely into one of two categories: either high-end, fancy-cut unusual pieces or smaller, more affordable opening-price goods.
What Retailers Want
“The companies that will prosper are the ones that are designing with a firm understanding of the market. As a luxury retailer, we really need fresh product with 80 percent of the look of past years in terms of diamond presence at around 60 percent of the price,” said Jeremy Oster of Oster Jewelers, Denver, Colorado. “This means intelligent use of materials, diamond placement and a true focus on design rather than just bling.”
To that end, diamond dealers and jewelry designers are delivering. Most finished jewelry designs at BaselWorld 2010 focused on offering feminine accents — curves, bows or swaying motion — a fantastic nod toward nature, or an emphasis on geometric patterns, particularly infinity circles. At the ultra-high end, fancy-cut stones, superb colors and megadiamond necklaces and rings took center stage. In fact, Bloom Fine Jewelry is fulfilling both ends of the spectrum, offering jewelry with smaller stones and lots of princess cuts for the cost-conscious and style-conscious, but also, says Bloom, introducing a line of rings with very large colored diamonds as center stones for those who want the audacious.
Daniel K is working on both sides of the spectrum, as well. The company’s most requested diamonds are white rounds in the 1-carat to 3-carat size, but demand for colored diamonds, especially yellow and pink, in all shapes and sizes has risen sharply. According to Daniel Koren, founder and creative director, “Larger sizes are particularly popular now because in 2009 there was less production of larger rough diamonds. So we’ve started to see a spike in requests for larger diamonds and we can meet that demand.”
Colored Diamonds
While Daniel K offers all jewelry silhouettes, earrings and rings are the main focus in the newest collections. Most of the rings feature center and accent diamonds that range in weight from 3 carats to 20 carats, in a variety of colors.
Other companies are also going big. New York City’s Jacob & Co., for instance, is working with stones upwards of 4 carats and 5 carats and in intense fancy colors.
“In the fancy color diamond niche, demand in 2009 was characterized mainly by smaller stones, but during the first quarter of 2010, we have been noticing that the range of goods demanded has expanded significantly, and larger sizes are selling well, as well,” said Eden Rachminov, managing partner, Rachminov Diamonds 1891. “In 2010, we are experiencing demand for all colors and in all sizes, including 3 carats and up. Possibly, some of the extended demand could be for investment purposes.”
A host of retailers said they were searching for special colored diamonds at the show, as well as for colorless diamonds. Markham Teguns, owner of Markham Fine Jewelers, Frisco, Texas, said he was searching for a 2-carat to 3-carat vivid blue diamond and “for stock, looking for better 1 to 1.25 total carat weight round and cushion diamonds, as this is the sweet spot for customers at the moment.”
Black diamonds have not lost their edge either. So many companies are still utilizing these mystical diamonds on their own or mixing them with white diamonds or colored gemstones.
“Black diamonds are very important for us this year, too, and are part of our latest creations for Basel,” said Bloom. “And since pink gold seems to be very much in demand this year, we are preparing a collection of rings and pendants set with black diamonds in pink gold.”
Nature Inspired
Many companies turned to nature for their inspirations this year, with a wonderful array of flora, fauna, birds, insects and sea creatures coming to life in wearable works of art in every price point. In celebration of its 150th anniversary, Chopard created a 150-piece Animal World collection honoring nature and incorporating animals from every continent into its mix. According to Caroline Gruosi-Scheufele, her initial inspiration came from a pair of stuffed animals she had with her on a trip . The diamond-and-gemstone collection includes a stunning diamond-set polar bear ring, antelope earrings, seahorse earrings, a bunny rabbit bracelet and a superb fish necklace.
Offsetting the big diamond delights and the colored diamond craze, infinite creativity abounds in the white diamond realm. Here, jewelry houses have a great deal to offer as well, with most of their creations focusing on open-worked designs that are lighter and airier — with pavé-set diamonds for affordable, alluring appeal. Charm bracelets continue to be important statements, often with pavé diamond charms of animals, planets, the moon and stars.
Diamonds even blazed boldly in the watch halls, in all colors, adorning watchcases, dials and bezels. White diamonds were most prevalent, with some brands offering stunning designs that included floral and wave patterns on the dials and stretching over onto cases. Black diamonds were also statement makers here, mostly in baguettes on bezels.
Orit Noket, Israel’s deputy minister of industry, trade and labor and guest speaker at the BaselWorld luncheon, noted that despite the economic downturn and flattened growth curve, “The fourth quarter of 2009 showed optimistic signs of a coming turnaround.”
Article from the Rapaport Magazine - April 2010. To subscribe click here.