RAPAPORT...
Antwerp
In rough:
• Nice goods smaller than 2 carats are still moving. The reason is that, after the violent reduction in prices they have been through, it could turn out to be profitable to polish them and sell the polished in about two months. That presumes, of course, that prices do not continue to drop.
In polished:
• Melees, 4-per-carat and 5-per-carat are doing well because they are
20 to 25 percent cheaper than in September 2008.
• Premiums on triple EX goods are vanishing.
• The 5 to 15 percent premiums on oversizes are gone as well.
China
• The wholesale market has improved due to the Chinese New Year sales season.
• Most in demand are rounds in 0.15- to 0.69-carat G+, VS and in 0.15- to 0.69-carat I-J, VVS.
• Ox-themed talisman jewelry, gold bars and figurines of various sizes are popular.
Hong Kong
• K-M colors in most sizes are in demand as buyers look for low price points.
• Sizes larger than 5 carats in H-J colors are also finding some movement.
• Demand is good for SI clarity in all colors.
• Demand is relatively good for G-I colors in VVS clarities in a wide range of sizes.
• Small setting sizes are weaker in both rounds and fancies.
India
• Domestic market demand is good for VVS-VS in G-J colors in 0.30- to 2-carat round shapes and in D-H colors in 0.30- to 1-carat oval, marquise, pear, heart and princess shapes.
• Demand is strong for pointers from 0.30 to 0.90 carats and 1 to 1.49 carats in VVS-SI goods.
• U.S. market demand is for ideal and excellent cuts from G to J in VVS-SI round shapes.
Israel
• Trade is running at about 25 percent of the volume at this same time
in 2008.
• Medium-sized stones of 1 to 3 carats are moving at large discounts.
• Due to liquidity problems, companies are willing to sell goods at discounts as high as 50 percent below list.
• Large stones above 5 carats are still not selling.
• People are afraid of large quantities of returns after the poor U.S. Christmas.
• A lot of cancellations came in for the Macau show. Those who went reportedly were very disappointed.
Japan
• Following the New Year, Japan’s largest holiday, the market is not yet fully reopened so market activities were minimal.
Russia
• Russian jewelers consumed 3.2 percent less gold and 31 percent more silver in 2008 compared with 2007, according to the Russian Assay Chamber.
• The chamber stamped 43.57 million golden items in 2008, which is 5 percent fewer than in 2007. The number of silver items stamped increased 25 percent.
• The Assay Chamber stamped 30,040 platinum items, which is 28 percent more than in 2007.
U.S. Retail
• The best-selling shape for engagement rings is round.
• 1.5 carats is the most popular size.
• SI1 is the clarity most people buy, though VS2 is a tempting alternative.
• The top color is G, though more budget-conscious customers trend toward H, and more-well-heeled clients prefer F.
• Platinum is strong again, though it’s neck-and-neck with 18-karat white gold at all but the most high-end stores. Palladium is increasingly popular as well, while yellow gold has all but vanished.
• The average price for an engagement ring, including stone and setting, is $7,500, though sales in the $3,000 range are becoming more common.
U.S. Wholesale
• Sales of fine-quality, large diamonds are very slow.
• SI2 and lower clarities are selling in weights up to 3 carats.
• H through J colors are meeting some demand.
• Certified goods and collections are moving much slower than in 2008.
• Colored diamonds in all sizes are meeting moderate demand.
• Rounds remain the most popular shape, with princesses increasing slightly in popularity.
Article from the Rapaport Magazine - February 2009. To subscribe click here.