New York Sees First-Ever Diamonds by JCK Show

Diamonds by JCK, the first 'diamonds only' show of its kind took place in New York this Sunday and Monday. While most in New York were enjoying a quick break from the temperamental summer weather and heading to the streets and parks to enjoy the last summer rays, 210 diamond dealers and manufacturers were filling up their booths at Pier 94 with loose goods and waiting for the onslaught of buyers and retailers.

Although by all appearances the show was less than full with attendees, many exhibitors weren't at all concerned. "The people that are coming, are coming to buy. There are very few 'window shoppers'," noted a representative of A. Schwartz during the second day of the show. A point reiterated by JCK Shows' Vice President, Dave Bonaparte, "We're seeing high-quality buyers attending, ready to make purchases."

Issues at the show were, as expected, that of reluctance by retailers to accept the price increases filtered down onto the polished and, not surprisingly for a show of this nature, the need to get away from the commoditization of goods. With so many exhibitors all selling the same goods, price reigned supreme and credit terms demanded could run up to 300 days.

"Some of the major buyers in the U.S. are now demanding payment terms running between 250-300 days," noted one major Indian manufacturer. Although he did note that slowly buyers are beginning to reluctantly pay higher prices.

Many manufacturers also pointed out that the market is reaching a saturation with level. Rough is being cut and polished and stockpiled in factories, as buyers hold off on paying the increased prices. "Retailers need the goods for the coming season, manufacturers are holding huge inventories -- I just hope the situation will resolve itself without too much damage," commented one DTC Sightholder exhibiting.

As exhibitors began packing up, the general feeling was that the show had been worth the two days. "It certainly exceeded our expectations," said a New York based dealer. "Although there were very few retailers attending, those that did come came to purchase, the same with other dealers and wholesalers".

"This is not a regional show, it's a worldwide diamond show, with both international and U.S. wide visitors and exhibitors. We've learnt a lot logistically and will improve for next year to make exhibitors' early opening experience smoother and are also concentrated on expanding our reach to international buyers," stated the satisfied show manager.  

"This first show has proved that a diamond only who is a credible and viable event," he concluded.