The Hong Kong jewelry show is an important benchmark for the diamond industry. It shows us where are the prices of diamonds are going for the next year. When we find out where prices of diamonds may be going, we can see where the prices of clarity enhanced diamonds will go. Another important aspect we look for from the Hong Kong show is which buyers come to the show? Will our friends from the far east come (China, India and Japan)? Will they be buying? If so, what type of diamonds will they purchase? Will our friends from Europe, specifically Germany, England and Italy, come to this show? How about our friends from the Middle East? American dealers are always at this great show, but the major question is what diamonds will they be purchasing? Here is what our spies told us what happened in Hong Kong!
Who came to the Jewelry Show
We were quite happy with the customers who came to the show. Our friends from the Far East (specifically from China and India) came to the show. However, it seems to us that they are looking for different types of diamonds and jewelry. Colorless diamonds, including D, E and F with VVS and Flawless clarities are very soft today. Our friends from the Far east seem to be looking for GIA certificates with SI clarity. Unfortunately, our friends from Europe (specifically Germany and Italy) were not there. It seems that the recession is hitting Europe hard. Our friends from the Mid East were there, but with oil at an all time low, they were not buying like they used to. American dealers were there, and were looking for diamonds with GIA diamond reports with I1 clarities of all shapes (especially fancy shapes) and off sizes. Off sizes are anywhere between 1.75 to 1.00, 2.50 to 2.99, 3.50 to 3.99, etc.
Where Are Diamond Prices Going
As we said, VVS and Flawless diamond prices are soft. We don't see an end to this until our friends form the Far East start to buy these type of diamonds again. Fancy shape diamonds and round cut diamonds in off sizes, with I1 clarities, are very strong today and very hard to find.
Clarity Enhanced Diamond Prices
Clarity enhanced diamonds always follow commercial diamond prices, specifically I1 clarities. With the demand of I1 clarity enhanced diamonds rising, prices are strong and rising. Fancy shape clarity enhanced diamonds, including princess cut , oval cuts, and emerald cuts, are very strong as well.
The Hong Kong jewelry show was very very successful with dealers and customers. Prices of imperfect diamonds with GIA diamond reports , and clarity enhanced diamonds , are still very strong. In our opinion they will definitely stay strong for the foreseeable future!