News: Diamond market uncertain. Small polished outperforming larger stones. De Beers cuts prices by estimated average of 10% for rough above 2 ct., raises prices by estimated 10% for below 0.75 ct. Cutters still wary of increasing production. China slow as dealers take Lunar New Year vacation. Chow Tai Fook FY3Q sales -19%; Luk Fook same-store sales -10%. US retail sales -1.1% in Dec., fueling cautious economic outlook. High end robust. Richemont jewelry maisons FY3Q sales +11% to $4B. Kim Kardashian buys Princess Diana’s amethyst Attallah Cross for $197,453 at Sotheby’s. Martin Rapaport issues New Year message. Wishing all our friends a happy, healthy and successful Year of the Rabbit.
Fancies: Fashion driving demand for elongated Ovals, Emeralds and Radiants. Goods with medium and short ratios are weak and declining in value. Slow market for 0.30 to 1.20 ct. diamonds. 1.25 ct. and larger, F-J, VS-SI categories stable. Supply shortages of well-cut fancies supporting prices. Oval is leading shape, followed by Radiant, Emerald, Pear, Cushion and Marquise. Retailers offering broader product ranges as consumers seek alternative cuts. Excellent shapes commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.