Las Vegas show opens with hopes
it will uplift diamond market. Jewelers taking more on memo and using tech in
their stores to tap online supply and improve consumer buying experience.
Polished suppliers left with large volumes and low profit margins. Rough market
slow. India’s customs unreasonably tightens disclosure rules for rough imports.
India April polished exports -18% to $1.6B, rough imports -5% to $1.4B.
Christie’s Hong Kong sells $45M (77% by lot) with cushion, 3.43 ct.,
fancy-vivid-purplish-pink, IF diamond fetching $7.5M ($2.2M/ct.). Rapaport
to host annual Las Vegas conference on Sunday, June 2, at 8 a.m.
Fancies: Fancy shapes soft, reflecting slowdown in high-end
demand. Inventory limited. Well-known brands and buyers with specific requests are
paying the strongest prices. Dealers being squeezed by lack of goods and low
profit margins. Ovals for fashion jewelry moving well, especially VS2-SI2.
Pears with VS clarity also steady. Demand for Radiants and Emeralds declined.
Marquises and Princesses weak despite reduced manufacturing. US sustaining
market for commercial-quality, medium-priced fancies under 1 ct. Chinese
consumers seeking fancy shapes at better prices. Off-make, poorly cut fancies
illiquid and hard to sell, even at very deep discounts.
United States: All eyes on Las Vegas shows. Positive sentiment as consumer
confidence hits six-month high, despite Chinese trade-war concerns. Steady
demand for 0.70 to 1.50 ct., G-J, SI-I1 diamonds. Jewelers seeing steady
engagement-ring sales. Bridal driving growth in platinum sales, according to
Platinum Guild.
Belgium: Polished trading stable, with focus on bread-and-butter US goods
during Las Vegas shows. Buyers hunting for bargains and have specific needs as
jewelers limit inventory purchases. Solid demand for 1 ct., G-H, VS-SI, RapSpec
A3+. Large stones weaker. Rough trading relatively quiet with low premiums on
the secondary market.
Israel: Local activity slow, as many dealers
have gone to Las Vegas. Many choosing to attend as buyers rather than
exhibitors this year. Suppliers assessing market conditions in order
to prepare for second half of the year. Inventory levels slightly down from
previous months but still well above 2018 levels. Good demand for nice
SIs, which are difficult to source.
India: Local trading limited as many dealers traveled to Las Vegas. Some
Far East and Indian buyers in Mumbai, but supply is focused on the US. Indian sentiment
weak due to reduced demand and tight liquidity. Good demand for 0.70 to 1.99
ct., G-J, VS-SI. Stars and melee weak. Cutters working below capacity.
Hong Kong: Sentiment soft as trade war heats up. Polished market slow during traditionally quieter
period. Dealers focused on lower colors and clarities, reflecting shift in
consumer demand toward lower price points. Jewelers limiting diamond inventory
and seeing stronger momentum from gold products.
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