Although we didnt travel to switzerland for the famous Bazal jewelry show, we still consider bazal a must for the diamond industry, including all our diamond and jewelry watchers. Bazal is an important diamond and jewelry show beucause it includes all of our friends from the middle east, far east, and europe. According to our sources, parts of the the bazal show were fantastic, and other parts not so.
Large diamonds sold at very high prices, specifically 5.00 carat plus fancy shape diamonds. Prices for fancy color diamonds, specifically fancy yellow diamonds, are still high and rising. Our friends from China
have slowed down a bit but VVS quality prices are still very high. We see that smaller size diamonds, for the U.S. consumer, are still very strong and didnt sell that well.
With India and China slowing down and not buying as much as in the past, the industry is waiting to see where prices are going. We think there is going to be a bit of weakinging in prices. However, the supply is still very low so this could keep prices at the present level.
We are very happy to see that with oil prices rising, this brings back our friends from the mid-east buying diamonds. Our mid east friends were the top buyers in the 1970′s and 1980′s. Hopefully, they will be back to buy diamond jewelry, big fancy shape diamonds, and fancy color diamonds.
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