Novel Collection news June 2013
The diamond industry has come to know the month of June as the beginning of their “slow season.” And, typically it is. But after attending at the JCK in Las Vegas, and the Hong Kong Jewelry & Gem Fair, we can make a strong case that fancy colored diamonds have eluded the Summer sales slump, and are high in demand. The current interest, and perhaps fascination with fancy colored diamonds was on display at the shows and auctions. Judging by the action, the investment trend is obviously still red hot, which indicates that prices may rise.
Vegas Show Summary:
The June JCK Show -one of the truest snapshots of the American Diamond Industry-just ended. We witnessed high demand for all fancy colored diamonds, up to 5 carats.
Here are our key takeaways:
· The JCK Las Vegas show activity signaled an improved U.S. jewelry retail market.
· Diamond trading was steady, although not booming.
· Buyers were selective and resisted any attempts to raise prices.
· Diamond suppliers observed that traffic was slightly down from last year.
· Buyers were focused and knew what they wanted at the show.
· Activity in the diamond section at JCK was driven by dealer trading rather than wholesale and retail orders.
· Activity at the show was a bit down from last year as there were fewer Asian buyers.
· Diamond suppliers are expecting positive reports from the retail market will filter to the diamond segment in the coming months.
The second show of June we participated in was the Hong Kong Jewellery & Gem Fair. The show was very good as well and the demands about the same demands as the JCK, with high demands for fancy blue diamonds.
Diamonds -A legitimate Investment
Diamonds are making a strong push to become physical investment options. Matt Manson, president and chief executive officer of Stornoway Diamond Corp said, “We’re right on the cusp of this developing. The target in the future is to have 15-20% of world diamond demand be people purchasing diamonds for just this purpose, for physical diamonds as an investment vehicle.”
This is perhaps one of the biggest current themes buzzing within the diamond industry. And one thing is certain -the quote “diamonds are forever” seems like it’s holding true now, more than ever. And after a long hard stare, diamonds look like the future.