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Rapaport TradeWire - Friday, April 10, 2009

Apr 10, 2009 1:00 AM   By Rapaport
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Rapaport TradeWire - Friday, April 10, 2009

News: DTC March sight estimated at $200 mil. with pickup in demand and prices for rough diamonds. De Beers cuts DRC exploration and significantly reduces London staff. ALROSA to sell $500 mil. in rough to 15 Antwerp firms in '09. S&P suspends credit rating for ALROSA citing lack of disclosure of financial information. Hong Kong Jan./Feb. jewelry sales -3% with total retail -2% to $6.2 bil. Sotheby’s Hong Kong jewels sale at $16 mil. with 68% sold by lot and a 13.53ct., D, flawless selling for $1.5 mil. ($110,865p/ct). SunDiamond to set up Ontario Canada's first diamond cutting and polishing facility. Helzberg’s CEO Marvin Beasley resigns and is replaced by Beryl Raff. THE NEXT RAPAPORT PRICE LIST WILL BE PUBLISHED ON APRIL 24 DUE TO PASSOVER HOLIDAY.


RETAIL QUOTE:

"We've had to introduce more aggressive discounting and offer free gifts to stimulate sales in an attempt to offset the difficult global retail environment. This has been common practice among most retailers since the start of the financial crisis late last year. Many customers still regarded jewelry as an emotional purchase closely associated with special occasions in their life. [With our foray into the tough U.S. market] it's still early days for us, but if our model works, then we could grow our chain of stores to about 800."

Mike Parsell, CEO
Michael Hill International


WORLD NEWS:

DTC March Sight Estimated at $200M as Demand Improves Slightly

Reports from the Diamond Trading Company (DTC) sight indicated a slight increase in demand for De Beers rough diamonds, as diamantaires respond to an apparent shortage in the market. The third sight of the calendar year, which ran from March 30 through April 3, had an estimated value of $200 million. This was double the average value of the previous three sights, but was still only about one-third the value of the March 2008 sale. Observers noted a generally more positive mood, a lack of rough in the market, a slight return of "demand-driven" buying, and strong requests for rough yielding polished sizes of 1 to 1.5 carats.

Participants in the sight were, however, still inhibited by DTC’s high prices relative to other sources of rough in the market. One sightholder expressed concern that the slight market upturn would give DTC confidence to maintain its high price levels. DTC vowed to continue offering smaller sights “until demand picks up at the consumer level.” Sightholders’ forecasted buying needs for the next 10 months were estimated at 50 percent lower than they were in 2008.


World Gold Jewelry Fabrication -10%, Expect Further Declines in 2009

World gold jewelry fabrication fell 10 percent in 2008 as jewelry demand was hurt by high prices and the recession. Fabrication will likely continue to decline in 2009, while prices remain high and the world economic outlook remains uncertain, according to GFMS Metals Consulting. Fabrication fell most steeply in the first half, rose nearly 10 percent in the third quarter and was steady in the final quarter of 2008. Jewelry demand in India was down almost 100 tons. Demand fell by almost a fifth in Italy and by 10 percent in the Middle East. Demand in China grew modestly — the only country to see an increase — to a record high, owing to a stronger yuan, an increase in investor demand and strong domestic consumption.

Gold prices could easily trade above $1,000 a troy ounce in the coming months, the group explained. A summer lull or the need for inflationary pressures to build could mean sub-$900-per-ounce prices in the short term; rising scrap supplies are weighing on prices. GFMS said that inflationary fiscal and monetary policies currently being enacted, particularly by the U.S. administration are the root cause of gold's potential. Central banks will also be reluctant to raise interest rates, and the dollar could weaken, further supporting gold prices.


Bank Opens $100M Facility for ALROSA, S&P Suspends Rating

VTB opened a credit facility of $100 million for ALROSA for working capital. VTB earlier, in December 2008, provided ALROSA with $1.3 billion in 600-day funding to refinance short-term debt on loans issued by investors. Meanwhile, Standard & Poor's (S&P) Ratings Services suspended its "BB-" long-term and "B" short-term corporate credit ratings for ALROSA, citing continued lack of information on the company’s financial and operating performance and prospects. S&P has not been supplied with sufficient information on ALROSA's sales volumes in the fourth quarter of 2008 and first quarter of 2009, or on the details of its agreement with the state-owned Gokhran of Russia. Updates are needed on ALROSA’s current liquidity position and progress in refinancing its material short-term debt before S&P can reinstate the ratings.
In other ALROSA news, the miner agreed to a distribution deal with the Antwerp diamond industry, under which ALROSA will sell $500 million in rough diamonds to 15 local companies in 2009. The deal could also be extended on a long-term basis. Its immediate terms were welcomed by the industry following a cut of rough supplies in January, the Antwerp World Diamond Centre stated.


Blood Emeralds Fund Pakistan Taliban

The emeralds of Pakistan's Swat Valley region are now under the control of the Taliban, which in a span of four months has occupied two of the largest mines in the area. The group has started round-the-clock mining operations, from which workers share up to 50 percent of their daily find with the Taliban. Most emeralds mined here range from just under 1 carat to more than 5 and fetch anywhere from $1,000 to more than $100,000 in the international market.


Rapaport Weekly Broadcast

In our second of three segments examining the U.S. economic outlook for 2009, Michael Niemira, the chief economist for the International Council of Shopping Centers (ICSC), discusses the timeframe and measurement of consumer spending for luxury goods; consumer confidence and the reaction of media headlines; and what jewelry wholesale suppliers should prepare for in the coming quarters.

Watch: http://www.diamonds.net/news/NewsItem.aspx?ArticleID=25971



WHOLESALE & RETAIL:


Shoppers Stay Cautious, Sales Decline Eases

Total retail sales at major chain stores in March fell 2.1 percent compared with one year ago. Macy's sales fell 9 percent, Nordstrom posted a 13.5 percent decline, Saks reported a drop of 24 percent, and Costco Wholesale sales fell 5 percent. Discount giant Wal-Mart Stores fell short of expectations as sales rose 1.4 percent. Upscale retailers were among the worst performers, as consumers continued to spend frugally on luxury items. 


Hong Kong Feb. Retail Sales -13%, Jewelry Sales -3% for Year to Date

February retail sales in Hong Kong fell 13 percent to $2.6 billion. This drop was due in part to the timing of the Lunar New Year, which in 2008 fell out during February, but occurred in January this year. The volume of sales was down 14 percent in February. The government also revised its estimate of total retail sales in January to $3.6 billion, an increase of 7 percent. Combined January and February 2009 retail sales decreased 2 percent compared with the first two months of 2008. Jewelry, watch and clock sales dropped 3 percent for the combined period.
 

Sotheby’s Hong Kong Jewels Sale Garners $16M

Strong demand for larger diamonds of 5 to 15 carats helped Sotheby’s generate $16 million in sales at its magnificent jewels and jadeite auction in Hong Kong. The auction was sold 67.6 percent by lot. The top lot was a pair of very fine, marquise-shaped D color flawless diamond earrings, weighing a total of 16.58 carats, which sold for $1.7 million. The second lot was a pear-shaped, 13.53-carat D color flawless loose diamond, which sold for $1.5 million. The headlining lot and a number of high-value jadeite lots, however, failed to sell.


Russia's EPL Diamond Opens in Beijing

EPL Diamond Group opened a retail office to sell diamonds in Beijing. The company is Russia's third-largest diamond exporter and now has wholesale offices in Israel, the U.S. and Shanghai. The Beijing office marks a new era for the company, which will now start its retail trade development abroad.


Portland's Zell Bros. Could Close Unless a Buyer Steps Up

Zell Bros. Jewelers, the only store in the Bailey Banks & Biddle chain that doesn't carry that brand name, faces an uncertain future if a buyer is not found quickly. Zell’s employees said they had been asked not to talk to the media, but have reportedly told customers that the company intends to close the store.


Michael Hill Maintains Aggressive Discounting to Stimulate Sales

Michael Hill International has discounted merchandise more aggressively to stimulate sales, resulting in lower margins for the chain. In a trading update for the first nine months of the fiscal year, same-store sales at Australia were up 1 percent, while same-store sales in both New Zealand and Canada fell about 9 percent. Sales for the nine months increased 10 percent to $260 million. Even though the market is very difficult in the U.S., the retailer hopes to grow its chain of stores there to about 800.


SunDiamond to Open Ontario Diamond Cutting Facility

HRA-SunDiamond is setting up the first diamond cutting and polishing facility in Ontario, Canada. The factory, operated by SunDiamond's subsidiary Crossworks Manufacturing, will be completed later this year and will employ about 50 people. Crossworks will receive rough diamonds from the De Beers Canada Victor Mine through SunDiamond, which is a Diamond Trading Company (DTC) Canada sightholder. The new facility will cut and polish an estimated $25 million worth of rough per year. DTC has pledged to supply 10 percent of its output from Victor to Ontario-based cutters and polishers.


Sotheby's NY Magnificent Jewels Sale Features Important Diamonds

Sotheby’s New York spring sale of Magnificent Jewels will be held on April 23, 2009.  The top lot is a fancy blue diamond ring set with a cut-cornered rectangular modified brilliant-cut stone weighing 8.24 carats, which is expected to bring in excess of $2.5 million. A fancy vivid yellow diamond ring, signed Jacob & Co., is set with a 15.61-carat center stone and 2.55 carats of flanking half-moon white diamonds; it has a presale estimate of $925,000 to $1 million. A pair of fancy vivid yellow diamond earrings featuring matched emerald-cut stones weighing 7.47 and 7.32 carats has a presale estimate of $800,000 to $1 million. Also on offer at the Sotheby's sale are a cushion-shaped diamond ring of 15.4 carats, F color, VS1 clarity, with a presale estimate of $1 million to $1.5 million, and a diamond ring set with an emerald-cut 13.98-carat, G color, VS2 clarity diamond with a presale estimate of $450,000 to $500,000.


Bonhams' April London Sale Features Diamonds, Colored Stones

Bonhams' next London sale of fine jewelry will be held on April 29, 2009, and will include diamonds, colored gemstones, natural pearls and signed jewels. Of particular interest is a brilliant-cut 5-carat, D diamond ring with a presale estimate of $117,600 to $147,000 (GBP 80,000 to GBP 100,000). A 6.87-carat Burmese ruby is estimated at $11,760 to $17,640 (GBP 8,000 to GBP 12,000), and an emerald and diamond ring by Bulgari set with a fine gem-quality Colombian 5.59-carat emerald with minor clarity enhancement, has a presale estimate of $44,100 to $58,800 (GBP 30,000 to GBP 40,000).


Elan to Launch Kathy Ireland Jewelry Line

Elan Luxury Collections is launching a line of jewelry designed by Kathy Ireland, chief designer and chief executive officer (CEO) of Kathy Ireland Worldwide. The new line will feature collections of fine jewelry, including bridal and fashion products, inspired by Kathy Ireland’s hallmark design styles.


Group Measures Favorability of Retail Chains within the Blog World

A new study by CARMA International, measuring the favorability of the coverage of top retailers within the blog world, found that wholesale clubs are favored over department stores when it comes to online praise or rants by consumers. CARMA analyzed consumer-written blog posts during January and February that specifically addressed leading retailers in the U.S. The media analysts identified wholesale clubs Costco, BJ's and Sam's Club as being viewed quite favorably by bloggers, with Costco the most commonly praised retailer in the study. CARMA found that Kohl's, Dillard's, Macy's and Sears rated below average in favorability to bloggers, while Target, Nordstrom, Saks and Neiman Marcus registered readings slightly more favorable than the study’s neutral benchmark. Wal-Mart was the subject of the largest number of negative blog posts, many of which were highly critical of the retailer, calling it “evil” or other similar invectives.


Six in 10 Consumers Don't Know When They Will Resume Spending

The majority of consumers polled by the Jewelry Consumer Opinion Council (JCOC) were not prepared to spend money on jewelry — and 58 percent overall said they had no idea when they'd even feel comfortable spending on discretionary items again. JCOC asked 666 panelists to weigh in on their willingness to spend on nonessential consumer goods. Ten percent said they'd feel comfortable spending within six months, another 10 percent said they'd spend within 12 months and 15 percent said it would take more than a year for them to be comfortable spending on nonessentials again. Once things turn positive again, 19 percent of the polled consumers told JCOC they'd indulge in vacation plans and travel, 13 percent would spend on home furnishings and dining out, and 5 percent said they'd spend on fine jewelry, high-definition televisions and children's items.


GENERAL NEWS:

Number of Unemployed U.S. Workers Jumps Past 13M

The U.S. unemployment rate jumped to 8.5 percent in March, the highest since 1983, as a wide range of employers eliminated a net total of 663,000 jobs. Most economists expect that the job cuts will continue for much of this year. Since the recession began in December 2007, the economy has lost a net total of 5.1 million jobs, with almost two-thirds of the losses occurring in the past five months. The number of unemployed people climbed to 13.2 million in March. If discouraged workers and workers forced to work part-time are factored in, the unemployment rate rises to 15.6 percent for March.


Pakistan Adds Gems, Jewelry to Duty-Free Deal with Sri Lanka

Pakistan introduced duty-free measures for an additional 4,000 products imported from Sri Lanka, including gems and jewelry, as part of the free-trade deal between the two nations that originated in 2002. Duty-free access for these products into Pakistan became effective on March 20, 2009.


EGL USA Transforms HPHT Analysis with Fluorescence Cage

EGL USA offers the first visual observational criteria for identifying high-pressure high-temperature (HPHT) stones, using the “fluorescence cage” — a specific luminous intersecting pattern found along the cut edges and vertices of facets on particular colored HPHT-treated Ia diamonds with less than strong fluorescence. The visual effect is so distinct that it can be seen with a fluorescence microscope. Researcher Dr. Inga Dobrinets of EGL USA identified the cage in collaboration with Professor Alexander Zaitsev of the College of Staten Island/CUNY. Early research indicates that the effect results from the movement of optically active impurities that are triggered by the HPHT process.


Basel Show Visitor Count -12%

The number of visitors to the 2009 BaselWorld watch and jewelry show fell 12 percent to 94,900, according to event organizers. Foreign buyers constituted 68 percent of the total visitor count, compared with 64 percent in 2008. The organizers reported that 71 percent of attendees surveyed said they intended to return for the 2010 event. A total of 1,952 exhibitors from 45 countries showcased their products in an exhibition area of 160,000 square meters (1.7 million square feet).


GIA London to Host Business Development Strategies Class

The Gemological Institute of America (GIA) London is offering an intensive five-day class on business strategies to help both students and professionals develop entrepreneurial and leadership skills. In particular, the courses will instruct attendees to analyze real-world campaigns and business decisions, and will challenge students to understand the strengths and weaknesses of the jewelry industry's best practices. There will be three Business Development Strategies classes, each with a duration of five days. Tuition for the classes will be GBP 715. The available dates are April 20 to 24, 2009; June 22 to 26; and November 9 to 13. Each runs from Monday to Friday, from 9 a.m. to 4 p.m.


WHO IS NEWS:

Tiffany CEO Receives $4M in 2008 Compensation

Michael J. Kowalski, chairman and chief executive of Tiffany & Co., received $4.2 million in  compensation for 2008, which was a drop of 33 percent from one year ago. Kowalski's salary was $1 million, additionally, he was awarded stock-based compensation with a value of $2.9 million on the date granted. However he declined a performance-based bonus which was $1.8 million one year ago.  Other company officers also did not receive a performance-related bonus, although all individuals were eligible, as the company reached its goal of full-year earnings of $243 million.


Beasley Resigns from Helzberg Diamond


Marvin Beasley resigned as chairman and chief executive officer (CEO) of Helzberg Diamond. Beryl Raff took over the role this week. Raff has spent more than 25 years in the retail jewelry industry — most recently, she was executive vice president and general merchandise manager of fine jewelry at J. C. Penney.


Jerry Hammond Appointed Director at Color Craft

Color Craft appointed Jerry Hammond as its new director of international sales. Hammond has 28 years of jewelry experience, in both retail and wholesale, and for the past nine years he has been in various sales management roles at Sunstone, Hot Diamonds USA, and the Colibri Group.


JBT Honors Jewelers Mutual, Names Matthies to the Board

The Jewelers Board of Trade (JBT) recognized Jewelers Mutual Insurance Company for its long-standing commitment to the trade organization. JBT also named Joel Matthies, chief information officer (CIO) at Jewelers Mutual, to the JBT board.


DIAMOND MINING NEWS:

Junior Diamond Miners Remain Upbeat Despite Depressed Prices

Firestone Diamonds confirmed the "significant economic potential" of its BK11 project in Botswana. Even with prices that have halved during the past six months, it could generate annual revenues of $30 million with 60 percent to 70 percent operating margins. BK11 could be producing as soon as mid-2010, for an investment of only $7.5 million. African Diamonds has secured a mining license for the AK6 discovery in the face of opposition from partner De Beers, which had sought to mothball the project to conserve resources. DiamondCorp has restarted underground mining at the Lace kimberlite in South Africa. The company sold a small parcel of diamonds in March for $39.51 per carat. Petra Diamonds will test the market for larger stones when it auctions off the 7.03-carat Cullinan blue diamond, which carries an estimated value of $5.8 million to $8.5 million.


De Beers Reduces DRC Exploration

De Beers is planning to scale back its exploration operations in the Democratic Republic of the Congo (DRC) due to the weak economic environment. When economic conditions improve, De Beers will assess new opportunities for prospective ground-holdings in the DRC. De Beers has reduced production by closing a number of its mines worldwide, and endeavored to cut expenses. As a result, the company said it will consolidate its focus on those areas that it believes have the highest potential for new economic discoveries.


South African Reserve Bank Blocks Sale of Angel Diamonds

The South African Reserve Bank has blocked the proposed sale of a stake in Angel Diamonds to Mantle Diamonds, according to Thabex, which owns 70 percent of Angel. The bank reasoned that Angel could not “be disposed of on extended credit terms” and that “the issue of Mantle ordinary share to Angel shareholders would constitute a loop structure.” Accordingly, shareholders are advised that Thabex will not proceed with the disposal of its interest in Angel, and a circular to shareholders will not be sent.


Gem Diamonds Freezes Gope Project

Gem Diamonds has put its Gope project in the Central Kalahari Game Reserve on the back burner, as the London-headquartered diamond producer seeks to cut its costs and stay afloat in the face of the global economic crisis. The company also suspended its debt-financing exercise — which was intended to raise the $500 million required for Gope's capital expenditure — because of lack of debt capital in global markets. Gem Diamonds acquired Gope Exploration Company, the holder of a retention license covering the Gope 25 kimberlite deposit in the Central Kalahari Game Reserve, from De Beers and Xstrata in May 2007 for $34.1 million.


Diavik Completes Successful Winter Road Resupply

Cold temperatures in Canada's Northwest Territories (NWT) helped maintain excellent conditions for the Tibbitt-to-Contwoyto seasonal Winter Road during the 2009 season, enabling Diavik Diamond Mines to successfully complete its resupply on March 22. The road was officially closed on March 25, with all users completing their winter resupply. This year, Diavik trucked 2,779 loads totaling 91,362 metric tons (100,709 tons) of fuel, cement, explosives, equipment and other materials, over the ice road. All of the road's users trucked a total of 5,377 loads, or 173,195 metric tons (190,915 tons), during the 2009 season.



ECON WATCH:

Week ending April 8, 2009

  Apr. 8 Apr. 2 Chng.  
$1 = Euro 0.755 0.740 0.015  
$1 = Rupee 50.3 50.4 -0.1  
$1 = Israel Shekel 4.14 4.16 -0.02  
$1 = Rand 9.14 9.12 0.02  
$1 = Canadian Dollar 1.24 1.25 -0.01  
         
Precious Metals        
Gold $880.80 $904.00 -$23.20  
Platinum $1,175.00 $1,155.00 $20.00  
         
Stock Indexes       Chng.
BSE 10,742.34 10,348.83 393.51 3.80%
Dow Jones Avg. 7,837.11 7,978.08 -140.97 -1.77%
FTSE 3,925.52 4,124.97 -199.45 -4.84%
Hang Seng 14,474.86 14,512.97 -38.11 -0.26%
S & P 500 825.16 834.38 -9.22 -1.11%
Yahoo! Jewelry Index 605.43 620.23 -14.80 -2.39%
         
USA        
Birks & Mayors $0.45 $0.43 $0.02 4.65%
Blue Nile $33.40 $33.50 -$0.10 -0.30%
Charles & Colvard $0.32 $0.36 -$0.04 -11.11%
DGSE Companies, Inc. $0.84 $0.80 $0.04 5.00%
Fuqi International $4.86 $4.95 -$0.09 -1.82%
JCPenney $22.60 $21.93 $0.67 3.06%
Kohl's $45.12 $45.00 $0.12 0.27%
Lazare Kaplan $1.48 $1.12 $0.36 32.14%
LJ International $0.64 $0.71 -$0.07 -9.86%
Macy's $10.32 $10.16 $0.16 1.57%
Man Sang $2.46 $1.90 $0.56 29.47%
Movado Group $8.31 $8.18 $0.13 1.59%
Nordstrom $18.67 $18.40 $0.27 1.47%
Saks $2.19 $2.39 -$0.20 -8.37%
Signet $13.33 $13.26 $0.07 0.53%
Sotheby's $9.75 $10.28 -$0.53 -5.16%
Tiffany $22.49 $23.33 -$0.84 -3.60%
Wal-Mart $52.61 $53.63 -$1.02 -1.90%
Zale $3.51 $2.78 $0.73 26.26%
         
EUROPE        
Bulgari €3.32 €3.39 -€0.07 -2.06%
Bijou Brigitte €81.01 €81.55 -€0.54 -0.66%
Esa €2.75 €2.23 €0.52 23.32%
Golay-Buchel CHF 1,300.00 CHF 1,220.00 CHF 80.00 6.56%
LVMH €50.38 €51.29 -€0.91 -1.77%
Pinault P-R SA €54.85 €55.62 -€0.77 -1.38%
Richemont SA CHF 19.54 CHF 20.00 -CHF 0.46 -2.30%
Swatch Group CHF 149.90 CHF 151.10 -CHF 1.20 -0.79%
Theo Fennell (pence) 16.65 20.00 -€3.35 -16.75%
         
INDIA (rupee)        
Classic Diamond 10.86 8.57 2.29 26.72%
Gitanjali Gems 63.15 49.65 13.50 27.19%
Rajesh Exports 30.75 28.00 2.75 9.82%
Ren. Jewellery 23.85 21.15 2.70 12.77%
Su-Raj Diamonds 25.55 22.40 3.15 14.06%
Titan 804.60 812.60 -8.00 -0.98%
Zodiac JRD 11.55 11.00 0.55 5.00%
Suashish Diamonds 118.80 114.70 4.10 3.57%
         
NEW ZEALAND        
Michael Hill NZD 0.53 NZD 0.48 NZD 0.05 10.42%
         
MINING STOCKS        
(pence unless noted)        
USA        
Anglo American $9.64 $9.72 -$0.08 -0.82%
CANADA        
Archangel CAD 0.08 CAD 0.11 -CAD 0.03 -23.81%
Harry Winston CAD 3.45 CAD 3.89 -CAD 0.44 -11.31%
Mountain Province CAD 0.93 CAD 0.86 CAD 0.07 8.14%
Peregrine Diamonds CAD 0.69 CAD 0.65 CAD 0.04 6.15%
Rockwell Diamonds CAD 0.06 CAD 0.07 -CAD 0.01 -9.09%
Shore Gold CAD 0.27 CAD 0.28 -CAD 0.01 -3.57%
Stornoway Diamond CAD 0.17 CAD 0.21 -CAD 0.04 -19.51%
True North Gems CAD 0.10 CAD 0.10 CAD 0.00 0.00%
UK (pence)        
African Diamonds 19.5 22.0 -2.5 -11.36%
BHP Billiton 1,357.0 1,513.0 -156.0 -10.31%
Firestone Diamonds 19.5 22.3 -2.8 -12.56%
Gem Diamonds 122.3 125.0 -2.8 -2.20%
Gemfields 2.6 2.8 -0.2 -7.27%
Mano River 3.6 3.6 0.0 0.00%
Mwana Africa 4.4 4.5 -0.2 -3.33%
Namakwa Diamonds 22.5 20.5 2.0 9.76%
Petra Diamonds 32.0 25.0 7.0 28.00%
Rio Tinto plc 2,243.0 2,536.0 -293.0 -11.55%



INDIA MARKET REPORT:
Polished: Stable demand in the local market, with some buyer price resistance for certs against the higher asking prices.
Round
-1 point: Fair demand: +$300 whites; $250-$350 TTLC.
-2 point: Fair demand: +$350 whites; $125-$150 TTLB; $300-$400 TTLC.
2-7 point: Good Demand: $350- $500 whites.
Fair demand: $100-$150 TTLB; $300-$400 TTLC.
8-18 point: Good Demand: +$650 whites.
Fair demand: $150-$200 TTLB & $350-$450 TTLC.
20 points: Fair demand: +$600 whites.
25 points: Fair demand: +$700 whites.
33 points: Good demand: +$900 whites.
50 points: Good demand: $1000-$1500 & +$2000 whites.
75 points: Good demand: +$2000 whites.
1 carat+: Good demand: +$2000 whites.
Princess
-3 point: Fair demand: $300-330 whites.
+3 point: Fair demand: $350-$380 whites.
+9-18 point: Fair demand: +14 pts $600-$650 whites.
20 point: Fair demand: $700-$750 whites.
25 point: Fair demand: $800-$850 whites.
50 point: Fair demand: $600-$1,000 whites.
75 point: Fair demand: $1,000-$1,200 whites.
1 carat+: Good demand: +$1,500 whites.
Marquise
-6 point: Good demand: $400-$500 whites.
Fair demand: $250-$350 whites.
+7-18 point: Good demand: $600-$700 & +14 pts $800-$850 whites.
20 point: Fair demand: $900-$1,000 whites.
25 point: Fair demand: $1,100-$1,200 whites.
33 point: Fair demand: $1,300-$1,500 whites.
50 point: Fair demand: $1,600-$1,800 whites.
75 point: Fair demand: $1,100-$1,400 & $2,600-$2,800 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: Sellers demand cash. Activity is slow due to tight liquidity. A few financial failures are seen in the local market.
1-5 point: Good demand: $70- $100 makeables; $75-$160 crystals.
Fair demand: $25-$50 makeables.
Fair demand: $5-$15 & $35-$70 OW TTLB & TTLC.
6-20 point: Good demand: $110-170 crystals; $50-$140 makeables.
Fair demand: $40-$50 clivage;
Fair demand $50-$100 fancy shapes;
$50-$90 OW TTLC & TTLB rounds.
21-50 point: Good demand: $190-250 makeables; $80-$270 crystals.
Fair demand: $80-$180 rounds; $50- $90 clivage.
Fair demand: $70-$180 fancy shapes;
Fair demand $20-$40 OW TTLC & TTLB.
0.51-1.00 carat: Good demand: $130-$280 makeables;
$100-$200 & $250-$400 crystals.
Fair demand: $70-$100 makeables; $40-$70 clivage;
Fair demand $50-$100 fancy shapes;
Fair demand $60-$90 OW TTLC & TTLB.
1.01-2.00 carat: Good demand: $180-$500 rounds;
$180-$600 crystals;
Fair demand $140-$180 OW TTLC & TTLB.
$90-$130 clivage; $170-$350 all fancy shapes.
2.01-3.00 carat: Good demand: $200-$1,000 makeables; $300-$1,400 crystals
Fair demand: $250-$325 clivage; $100-$325 flats & TTLC & TTLB
$350-$800 OW & $400-$800 fancy shapes.
5.00 carat+:  Fair demand: $1,000+ makeables, crystals & all fancy shapes till L color.
Mixed Lot: Fair demand: $2-$40.




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