Market Comment

News:

JCK Las Vegas reflects market split. 2 ct. and larger diamonds selling, with 10 ct.+ strong. 1.20 to 1.99 ct. mixed; smaller “bread and butter” goods slow. Riches in the niches (long fancies, antique cuts, low and fancy colors, gemstones). Jewelry better than loose diamonds. US consumers returning to natural for pricier pieces. Strong Luxury show as high-end jewelers sought unique products for affluent clients. Retailers only buying for inventory in hottest categories. Signet fiscal 1Q sales +1% YOY to $1.6B. Angola to reduce supply of small rough. Finsch mine in business rescue; Kao mine reportedly pausing. Sign up to beta-test Rapaport’s new agentic AI tool 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.