JCK show sees fewer but more serious buyers with reduced budgets that reflect their lower inventory needs. Retail environment undergoing unprecedented change requiring jewelers and diamantaires to demonstrate their added-value service in price-sensitive market. US outlook positive if the diamond trade can meet the demands of a millennial consumer base. De Beers estimates 2016 global diamond jewelry demand +0.3% to $80B with US demand +4.4% to $41B. Forevermark targets female self-purchasers as growth area for 4Q. DPA secures $57M budget for 2017 generic marketing, allocates $50M to the US. Cushion, 26.27 ct., I, VVS2 diamond bought in 1980s for $13 sells at Sotheby’s for $848K.
Fancies: Steady demand for Pears in the Far East, with Ovals overtaking Pears as the strongest shape in the US. Shortages of fine-quality large Pears and Ovals. Cushions stable. Emeralds selling better than Princesses. Some demand for big fancy shapes, but buyers extremely picky. Improving demand for Radiant, 3.01 to 9.99 ct., D-I, SI1-SI2 elongated stones. Large price differentials between excellent- and average-cut fancies. Off-make, poorly cut fancies illiquid and very hard to sell, even at very deep discounts.