Sight Two 2007: Returning From London with Smiles

Three things that were not associated often with the Diamond Trading Company (DTC) Sights in the past year have returned – premiums, ex-plan, and smiles.

Boxes of rough diamonds from the second Sight of the year are changing hands quickly, due to high demand in the market. Some dealers are reporting premiums averaging 10 percent, with one claiming that a 20 percent profit can be made on some boxes of Indian goods.

After the DTC improved assortments and lowered prices on some of the goods, a positive mood has appeared in the market after long months of gloom. A number of additional elements are contributing to this: an increased demand for polished goods is providing manufacturers with a back wind to polish with renewed gusto.

More money in the market is another reason. An Antwerp based dealer noted the opening of the branch of an Indian bank in town, providing extra credit and ability to purchase goods. One insider noted China as a source of money.

Either way, a joyous Sightholder said people are flying to London, see the goods, and smile all the way back home.