The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
May 4, 2023
Fancies: Fancy-shape market slower than before but better than rounds. Elongated Ovals, Emeralds and Radiants are strongest items. Goods with medium and short ratios are weak. Demand for cushions declining. 0.30 ct. doing well. Orders low for 0.70 to 1.20 ct. diamonds. VS-SI losing strength, except in 1.20 to 1.49 ct. Well-cut stones seeing supply shortages. Excellent shapes commanding premiums. Retailers offering broader product ranges as consumers seek alternative cuts. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.
Country Comments
United States
Polished market slow. Dealers concerned about continued price declines. Weak bridal retail sales leading to sluggish wholesale. Fancy shapes remain stronger than rounds. Suppliers hoping the Las Vegas shows (May 31 to June 5) will stimulate trading. AGS Conclave demonstrates strength of tier-one independents.
Belgium
Activity down amid low US, Chinese and European demand. Optimism for next week’s GemGenève show as high-end luxury continues solid performance. Stable demand for 0.30 to 1 ct., H-I, SI2 goods. Fancy shapes also steady. Rough market cautious during De Beers sight.
Israel
Dealers worried about sharp drop in trading and demand. Polished market weak, with decrease in US purchases. Ovals and pears in VS categories are best-moving fancy shapes. Some US memo orders. Polished exports fell 69% to $138 million in April, down 44% for 2023 so far at $976 million.
India
Market quiet due to low US and Chinese orders. Domestic sector stable, with Akshaya Tritiya festival (April 22) stimulating momentum for gold jewelry sales. Local consumer tastes reportedly shifting toward better-quality goods. Manufacturers holding large inventories and reducing polished production levels. Suppliers becoming more careful about compliance issues and demonstrating responsible sourcing.
Hong Kong
Wholesale sentiment weak amid sluggish Chinese demand. Lower prices not yet stimulating sales. Retail gradually improving, driven by tourist revival. Mainland China slow. 0.30 ct. and 0.50 to 0.70 ct., D-J, VS-SI diamonds selling well. Fancy shapes also steady and seeing better performance than rounds.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
May 4, 2023
Fancies: Fancy-shape market slower than before but better than rounds. Elongated Ovals, Emeralds and Radiants are strongest items. Goods with medium and short ratios are weak. Demand for cushions declining. 0.30 ct. doing well. Orders low for 0.70 to 1.20 ct. diamonds. VS-SI losing strength, except in 1.20 to 1.49 ct. Well-cut stones seeing supply shortages. Excellent shapes commanding premiums. Retailers offering broader product ranges as consumers seek alternative cuts. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid and difficult to sell.
Country Comments
Polished market slow. Dealers concerned about continued price declines. Weak bridal retail sales leading to sluggish wholesale. Fancy shapes remain stronger than rounds. Suppliers hoping the Las Vegas shows (May 31 to June 5) will stimulate trading. AGS Conclave demonstrates strength of tier-one independents.
Activity down amid low US, Chinese and European demand. Optimism for next week’s GemGenève show as high-end luxury continues solid performance. Stable demand for 0.30 to 1 ct., H-I, SI2 goods. Fancy shapes also steady. Rough market cautious during De Beers sight.
Dealers worried about sharp drop in trading and demand. Polished market weak, with decrease in US purchases. Ovals and pears in VS categories are best-moving fancy shapes. Some US memo orders. Polished exports fell 69% to $138 million in April, down 44% for 2023 so far at $976 million.
Market quiet due to low US and Chinese orders. Domestic sector stable, with Akshaya Tritiya festival (April 22) stimulating momentum for gold jewelry sales. Local consumer tastes reportedly shifting toward better-quality goods. Manufacturers holding large inventories and reducing polished production levels. Suppliers becoming more careful about compliance issues and demonstrating responsible sourcing.
Wholesale sentiment weak amid sluggish Chinese demand. Lower prices not yet stimulating sales. Retail gradually improving, driven by tourist revival. Mainland China slow. 0.30 ct. and 0.50 to 0.70 ct., D-J, VS-SI diamonds selling well. Fancy shapes also steady and seeing better performance than rounds.
Previous Market Comments
Market Comment: June 12, 2025
Market Comment: June 5, 2025
Market Comment: May 29, 2025
Market Comment: May 22, 2025
Market Comment: May 15, 2025
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Previous Market Comments
Market Comment: June 12, 2025
Market Comment: June 5, 2025
Market Comment: May 29, 2025
Market Comment: May 22, 2025
Market Comment: May 15, 2025
Market Comment: May 8, 2025