Rising expectations for Las Vegas shows. Good demand for
0.70 to 1.99 ct., G-J, VS-SI, RapSpec A3+. Other categories weak. Large-stone
dealers cautious amid high-end slowdown. Christie’s Geneva garners $62M (87% by
lot) as cushion, 118.05 ct., fancy yellow, VS2 diamond sells for $7.1M ($60,000/ct.). Sotheby’s Geneva fetches $42M
(77% by lot) with 36.57 ct., D, FL going for $5M ($137,036/ct.). Rough prices
stable at De Beers sight but tight Indian liquidity impacting demand. Alrosa April
sales -21% to $319M. Letšeng 1Q average price -42% to $1,900/ct. Petra sells 425
ct., D, type II rough to Stargems and Choron for $15M. Industry mourns the
passing of Leo Schachter and Sam Abram.
Fancies: Fancy shapes soft, reflecting slowdown in
high-end demand. Inventory limited. Buyers with special inquiries and big
brands paying strong prices. Dealers being squeezed by lack of goods and low
profit margins. Ovals for fashion jewelry moving well, especially VS2-SI2. Pears,
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: Slight
improvement ahead of Las Vegas shows. Positive activity in 1.00 to 1.99 ct.,
G-J, VS-SI. Large stones weak, despite some interest from key buyers. More
companies dealing in recycled goods as they offer better profit than newly
manufactured diamonds. Retail sales steady after Mother’s Day with fashion
jewelry the strongest segment.
Belgium: Sentiment improving
for dealers in commercial-quality, 1 ct., G-I, VS-SI goods. Larger stones weak,
especially D-F, IF-VVS pieces. More US jewelers carrying lab-grown collections,
frustrating suppliers of natural diamonds. Buyers pushing for deeper discounts.
Rough trading steady but lacking buzz during De Beers sight.
Israel: Trading stable as
dealers prepare for Las Vegas shows. Polished suppliers concerned about
synthetics threat, impact of trade war and struggling manufacturing sector.
Dealers see India caution as reflection of sluggish global market. Soft demand
for 0.30 to 0.69 ct., D-J, IF-VS. Steady US orders for 0.70 to 1.50 ct., G-J,
VS-SI goods. Movement of 3 to 5 ct., D-G, IF-VS stones slow.
India: Cautious mood amid
rumors more businesses closing. Dealer trading quiet with many extending
their summer vacation due to slow orders. US and Israeli buyers in Mumbai
looking for bargains before Las Vegas shows. Liquidity tight and cutters
reducing production. Rough market stable, but manufacturing profit margins
tight. Jewelers concentrating on gold rather than diamonds.
Hong Kong: Wholesale trading
slow amid fears new US tariffs will impact Chinese diamond and jewelry exports.
Weaker yuan (-3.5% to CNY 6.88/$1 in May) adding to export risk. Stable demand
for 1.00 to 1.99 ct., G-M, VS-SI diamonds. Dealers shifting to lower colors.
Retail sales mixed during May 1 and Mother’s Day holidays, with consumers
seeing better investment in gold than diamond jewelry.
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