Market Comment

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.