Market Comment

News:

Market steady. Strong US demand for 2 ct. and larger, G-I, VS-SI diamonds in rounds and long fancies. 1.50 to 1.99 ct. improving. Marquises and antique cuts selling at high prices. Prices continue to recover in round, 0.30 to 0.89 ct. collection goods. Rough prices firm in 5 ct. and above. GIA to launch cut grade for marquises, ovals and pears, add fluorescence comments to reports. Signet estimates natural diamonds accounting for 70% of overall engagement-market revenue, 90%+ of $5,000+ range. Rectangular modified brilliant, 10.02-carat, fancy-intense-blue, VS2 diamond sells for $9M ($864,271/ct.) at Sotheby’s NY. Watch Rapaport JCK Breakfast recording here.

Fancies:

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