Fancy Cut Sales Strong as JCK Las Vegas Wraps Up

(IDEX Online News) – While rounds and princess-cut diamonds remain the most popular diamond shapes, sales of fancy shapes have been strong at JCK Las Vegas, which closes today. Pears, radiants and ovals have done well with cushions proving especially desirable.

The reason for the rise of the fancy cuts is clear: rounds are considered expensive and with their relatively lower prices, fancies offer buyers bigger pieces for less money. As one trader explained, “the market is full or rounds, which are moving slowly and expensively. Cushions are really in fashion more people want them and even though they are less common in the market, they are cheaper.” 

Those buyers fishing for really cheap goods – which they could not find on the JCK show floor – headed over to the antiques fair that was taking place at the same time. One person, who reported seeing many diamantaires at that show, commented that he hoped the fair wouldn’t be completely taken over by traders looking for cheap, second-hand diamonds.

Back at JCK, most diamond buyers were from the U.S. Most Far Eastern buyers appear to be waiting for the Hong Kong show, which takes place in a couple of weeks. Perhaps this is where the Indian buyers, of whom traders said there were fewer than usual, will be doing their buying.

Many traders were sanguine about the buyers and browsers they had seen. Even if they sold less than they wanted, they know that the diamond business is all about relationships and for many, their presence at the show is as much about PR and continuing those relationships as it is about buying.

Enav Schwartz of A. Schwartz & Sons said the show had been fairly good, although he did come with relatively low expectations. “People came here in a bad mood,” he said. “I hope the show has changed that mood.”

Schwartz said he had sold a broad range of goods, especially "bread and butter" rounds in VS-SI clarities with GIA and EGL certificates.

Israel-based fancy color specialist Leibish & Co. said the show had been better than expected, especially on Friday and Sunday (the company, along with many others was closed on Saturday).

However, said CEO Yossi Polnauer, they had not met as many new clients as they expected. “Most people set appointments in advance. They came with a target and were looking for specific goods.”

In terms of color goods, 1-5 carat yellows were selling the most, followed by pinks below 1 carat. The company has also started selling diamonds set in jewelry, which had been a decent seller, and is also making an increasing number of custom engagement rings set with colored diamonds.

Polnauer said some of the increased demand for colored stones is a result of people increasingly looking towards colored diamonds as an investment vehicle. The colored market, he said, is getting stronger and stronger.

Nilesh Shah of Nice Diamonds also said it had been primarily an appointment-driven show, although the company had seen more drop ins than in the past few years.

In terms of good sellers, Shah said he has sold a number of black and brown diamonds. People had been making enquires about pinks and blues, he said, but when they find out the price of these natural colored stones, they tend to end up buying treated stones.

The fancy colors were especially popular in fancy cuts, notably radiants and cushions in 0.5-1 carats. White goods, he said, were moving in larger sizes, in GHI colors and SI2 clarity.