Basel Show Good for Diamonds, But Not Great

(IDEX Online News) - Diamond traders collected goods and left for the Baselworld show with high hopes, fueled by a fantastic Hong Kong show earlier this month. However, as the show closes today, traders are reporting solid sales, but not as good as they hoped.

The mood at the show was a positive one, with diamantaires reporting good business in the 1-3 carat goods as well as in the bigger 5+ carat items. The 4 caraters continued to be weak.

One of the main issues, was the very high expectations traders had following the Hong Kong show, with one trader telling IDEX Online the Basel show was a "Hong Kong let down." The important differences are clear. The European market is interested in somewhat different goods and has a different taste than the Asian markets. Further, Chinese and Indian dealers – those that generated most of the business in Hong Kong, were at present at much lower figures in Basel.

The show, the leading watch trade fair, was a strong one for watchmakers. Small specialty watchmakers as large and established brands were very satisfied with the outcome. Between launch announcements, new model unveilings and large crowds swarming in and out of the booths, watch firms quickly handed out PR materials to the press and made themselves available mainly to buyers.