Market Comment

News:

US prices seeing more positive trend than Indian prices. Market stable overall as American retail demand remains steady. Split between sizes continues, with 2 ct. and larger diamonds performing better than 1.20 ct. and smaller. President Donald Trump says he expects to reduce India tariffs. National Retail Federation reports Oct. consumer sales +5% YOY, predicts record $1T spending this holiday season. Botswana pushes ahead with plan to acquire majority De Beers stake amid competition from Angola. Christie’s Geneva Magnificent Jewels garners $76M (95% sell-through by value, 94% by lot) as modified pear brilliant, 9.51 ct., fancy-vivid-blue, VVS1 Mellon Blue diamond fetches $25.6M ($2.7M/ct.).

Fancies:

Long fancy shapes such as Oval, Marquise and Emerald doing better than rounds in 2 ct. and larger. High-quality Marquises, long Radiants and long Cushions in short supply. Marquises most expensive fancy shapes. Long Cushions easy to sell and trading at 20% to 25% premium over square ones. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. US Oval prices 5% to 10% higher than those of Pears. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.