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Rapaport Weekly Market Comment

Oct 10, 2019 11:03 AM   By Rapaport News
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Diamond market quiet over Jewish holidays. Slight improvement in India ahead of Bharat Diamond Week, with buyers looking for polished before Diwali break (Oct. 27). Shortages in RapSpec A3+, nonfluorescent goods as manufacturers maintain low production. China retail sales +8.5% during Oct. 1 Golden Week. Luxury brands shifting high-ticket items from Hong Kong to Shanghai stores. LVMH 3Q jewelry & watch sales +8% to $1.24B. Sotheby’s HK sells $38M, with 10.64 ct., purplish-pink, IF diamond selling for $19.9M ($1.9M/ct.); auction also reflected sluggish big-stone market as 80.88 ct., D, FL diamond fails to sell. Rapaport offices will be closed on Oct. 14-15 for the Jewish holidays.

Fancies: Fancy shapes soft, reflecting slowdown in overall demand. High-end collection goods weak, as dealers and consumers are shifting to lower price points. Some brands with bespoke requests are paying a premium for rare items and well-made fancies. Ovals for fashion jewelry moving well, especially 1.50 and 2 ct., G-H, VS and H-K, SI2. Marquises and Princesses weak despite reduced manufacturing. US sustaining market for commercial-quality, medium-priced fancies under 1 ct. Chinese consumers seeking fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.

Rapaport News will resume publication of the country market comments after the Jewish holiday period.
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