Market Comment

News: Las Vegas shows see decent jewelry sales, but loose-diamond dealing mixed. Steady traffic and trading at Luxury, Antique and Couture events. JCK started busy but lost steam by end; many retailers left before final day. Good orders for melee and 1 to 2 ct., G-J, SI rounds. Synthetics selling at very cheap prices. Strong showing at Rapaport Breakfast. De Beers to stop producing synthetics for jewelry, announces plans to manufacture and sell natural polished. Stable prices expected at next week’s sight. Natural Diamond Council still short of funding for marketing. Hong Kong hard-luxury sales -29% YOY to HKD 3.8B ($480M) in April.

Fancies: Fancy-shape prices weaker following strong demand last year and overproduction by manufacturers. Pears slower than other shapes. Market for Ovals not as hot as it was. Elongated shapes still preferred. Goods with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Well-cut fancy-shape diamonds hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.