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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. ‎
Tags: Avi Krawitz, diamonds, Hong Kong International Jewellery Show, Rapaport
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