The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
May 30, 2024
News: Las Vegas shows open in uncertain market. Steady traffic and trading at Luxury, meeting low expectations. Industry hopes JCK will boost sentiment for 2H. Overseas attendance expected to be down due to high costs. US demand mixed, with synthetics and mid-market caution impacting sales. China slow. IF-VS prices continue to fall. Polished inventories rising. BHP abandons Anglo American takeover talks. AWDC supports sanction verification points outside G7. Christie’s confirms client-data breach. Cartier tutti frutti necklace sells for $8.7M at Christie’s HK. Rapaport Breakfast, Diamond Origin panel and Social Responsibility Conference to take place Sunday, June 2. Register at rapaport.com/jck24-events.
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.
Country Comments
United States
Industry focusing on Las Vegas jewelry week. Market direction uncertain as dealers await results from JCK Las Vegas, which begins Friday. Marketing, source verification, and future of De Beers to be under spotlight at show. Cautious optimism at Luxury, with decent attendance and sales on opening day. Couture and Antique Jewelry & Watch fairs will indicate shape of high-end segment.
Belgium
Activity slow at all levels, from manufacturing to retail. Concerns about lack of appetite for diamonds. Melee still doing okay. Retailers not stocking diamonds, only buying to fill orders.
Israel
Fewer companies attending JCK Las Vegas than in previous years, believing it’s not economically viable. Some sending representatives to attend without taking booths. Low expectations for show. Dealers nervous about future of industry amid uncertainty over supply from Alrosa and De Beers.
India
Market at standstill, with little movement due to Las Vegas and elections. Weak optimism for Las Vegas shows, but many feel the need to participate. Slowdown in round, D-I, VVS diamonds in 0.30, 0.40, 0.70 and 1 ct. sizes. SIs steady. Fancy shapes struggling; buyers only purchasing for specific demand. Star and melee selling in VS1 to SI1, but VVS sluggish.
Hong Kong
Market cool in buildup to traditionally slow summer holiday. Stable wholesale demand for 0.20 to 1 ct. diamonds, but bigger sizes not moving. Dealers reducing prices due to lack of demand despite limited supply. Retail losing steam. Continued optimism for rebound in September.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
May 30, 2024
News: Las Vegas shows open in uncertain market. Steady traffic and trading at Luxury, meeting low expectations. Industry hopes JCK will boost sentiment for 2H. Overseas attendance expected to be down due to high costs. US demand mixed, with synthetics and mid-market caution impacting sales. China slow. IF-VS prices continue to fall. Polished inventories rising. BHP abandons Anglo American takeover talks. AWDC supports sanction verification points outside G7. Christie’s confirms client-data breach. Cartier tutti frutti necklace sells for $8.7M at Christie’s HK. Rapaport Breakfast, Diamond Origin panel and Social Responsibility Conference to take place Sunday, June 2. Register at rapaport.com/jck24-events.
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.
Country Comments
Industry focusing on Las Vegas jewelry week. Market direction uncertain as dealers await results from JCK Las Vegas, which begins Friday. Marketing, source verification, and future of De Beers to be under spotlight at show. Cautious optimism at Luxury, with decent attendance and sales on opening day. Couture and Antique Jewelry & Watch fairs will indicate shape of high-end segment.
Activity slow at all levels, from manufacturing to retail. Concerns about lack of appetite for diamonds. Melee still doing okay. Retailers not stocking diamonds, only buying to fill orders.
Fewer companies attending JCK Las Vegas than in previous years, believing it’s not economically viable. Some sending representatives to attend without taking booths. Low expectations for show. Dealers nervous about future of industry amid uncertainty over supply from Alrosa and De Beers.
Market at standstill, with little movement due to Las Vegas and elections. Weak optimism for Las Vegas shows, but many feel the need to participate. Slowdown in round, D-I, VVS diamonds in 0.30, 0.40, 0.70 and 1 ct. sizes. SIs steady. Fancy shapes struggling; buyers only purchasing for specific demand. Star and melee selling in VS1 to SI1, but VVS sluggish.
Market cool in buildup to traditionally slow summer holiday. Stable wholesale demand for 0.20 to 1 ct. diamonds, but bigger sizes not moving. Dealers reducing prices due to lack of demand despite limited supply. Retail losing steam. Continued optimism for rebound in September.
Previous Market Comments
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
Sign up for Rapaport Newsletters
Get the trade’s most trusted news, analysis and data delivered to your inbox daily.
Previous Market Comments
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
Market Comment: May 1, 2025