Market Report

Tuesday,16 October 2018 12:142 Comments

Diamond market quiet over Jewish holidays and Hong Kong Moon festival. Mixed expectations for Oct. 1 Golden Week, as consumer sentiment reflects impact of US-China trade war and yuan currency depreciation (-9.5% since April 1 to $1/CNY 6.88). India remains slow, particularly for low-value, small diamonds. Steady demand for 0.30 to 1 ct., D-J, SI, RapSpec A3+ goods. De Beers starts sales of lab-grown collection. Bonhams sees strong prices at NY auction, with emerald-cut, 23.13 ct., I, I1 Harry Winston ring selling for $444,500 ($19,217/ct.). Christie’s expects $30M to $50M for rectangular, 18.96-carat, fancy-vivid pink at Nov. Geneva sale. Andrew Bone to step down as CEO of the RJC. Rapaport offices will be closed on Monday and Tuesday (Oct. 1-2) for the Jewish holidays.


Fancies: Far East demand improving as Chinese consumers seek Pears and Princesses at better prices. US and European demand mixed. Ovals and Cushions are best sellers, followed by Emeralds and Pears. Marquises and Princesses weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with prices firming for 3 to 5 ct. due to shortages. US supporting market for commercial-quality, medium-priced fancies under 1 ct. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts. Publication of the global market comments will resume October 4.


John Bassett


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