Market Comment

News:

Industry gearing up for Las Vegas shows. Positive expectations for higher-end Luxury and Antique Jewelry & Watch fairs. Diamond market awaiting JCK show for indications of US demand. Fewer overseas diamond exhibitors expected. Polished prices steady. Rough market quiet, with stable prices and low sales at De Beers’ May sight. ADPA member states call to make 4Cs grading and carat weights exclusive to natural diamonds. FY sales at Richemont jewelry maisons (including Cartier, Van Cleef) +8% to $19.3B amid price increases. Christie’s HK auction totals $74M. Rapaport announces rebrand, with RapNet to become Rapaport Trade. Register for the Rapaport JCK breakfast 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. Solid US market for elongated Ovals of good shape and quality in D-I, VS-SI categories. Princess cuts weak. Very well-cut fancy shapes difficult to find and commanding premiums. Fancies with bad proportions illiquid.