Sentiment improves after positive start to holiday season. More
people shopped than expected on Thanksgiving weekend, but average spend fell 7%
to $313 per consumer, reports NRF. Online sales +20% in November, with record
$7.9B generated on Cyber Monday, according to Adobe Analytics. Polished market
stable, with continued caution about small stones. Luxury jewelers concerned as
Chinese tourists spend less abroad. Chow Tai Fook 1H sales +20% to $3.8B,
profit -89% to $37M. Tiffany & Co. 3Q sales +4% to $1B, profit -5% to $95M.
Christie’s Hong Kong sells $60M (70% by lot). Birks to accept Bitcoin payments,
despite the cryptocurrency’s volatility (-68% in 2018).
Fancies: Fancy-shape market stable, driven by US and European demand
for fashion jewelry. Ovals and Cushions are best sellers, followed by Emeralds
and Pears. Supply shortage supporting prices for Pears. Radiants improving.
Marquises and Princesses weak. Oversizes selling well. Steady demand for
fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with prices firming for 3
to 5 ct. due to shortages. Chinese consumers seeking fancy shapes at better
prices. US supporting market for commercial-quality, medium-priced fancies
under 1 ct. Off-make, poorly cut fancies illiquid and hard to sell, even at
very deep discounts.
United States: Polished
trading mixed, with dealers expecting last-minute holiday orders. More memo
goods selling at retail since Thanksgiving weekend. Jewelers taking goods to
meet specific orders rather than to fill store space. Steady demand for 1 ct.,
G-H, VS-SI diamonds. Positive start to holiday season, with strong Black Friday
and Cyber Monday sales.
Belgium: Sentiment
positive, with busier trading for the holiday season. Steady US and European
demand, China and India slower. 0.70 ct., G-H, VS2 diamonds selling well. 1 ct.
steady. Stones above 4 ct. weak. Rough trading quiet, and premiums relatively
low on the secondary market.
Israel: Polished
trading stable, but quieter than expected for this time of year. Robust demand
for select categories. Shortages supporting prices for 0.70 ct., D-J, VS-SI
goods. 0.50 ct., F-J, VS1-SI2 selling well at around -35%. Good demand for 2
ct., J-L, VS2-SI2. Several dealers participating in Hong Kong International
Jewelry Manufacturers’ Show (HKIJMS) and hoping well-timed event will boost Asia
orders.
India: Dealer market back to normal after Diwali break, and manufacturers
expected to start raising production. Foreign buyers in Mumbai looking for polished,
but difficult to find the right goods. Local dealers gaining confidence as
rupee-dollar exchange rate has stabilized at around $1/INR 70.6. I1 clarities
moving well across most color categories. Jewelry market stable during wedding
season.
Hong Kong: Wholesalers seeing better orders, but some disappointment over
November trading. Dossiers stable, particularly 0.50 to 1 ct., D-J, VS-SI (3X,
no-fluorescence) diamonds. Retail sentiment weak amid concerns about cautious spending
by tourists from mainland China. Jewelers considering early holiday promotions
to reduce excess stock. Low expectations for HKIJMS show, which began November
29.
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