On Monday, 84 Sightholders and two will begin attending the first Sight of the new contract period – but quite cautiously. The Sight is not expected to be very large, around $400 million, because Sightholders opted to start the contract by scheduling fewer goods for the upcoming Sight. Why Are Sightholders Acting Cautiously The first Sight of the 2015-2018 Global …
Jewelry Expenditure Rises amid Stunted Growth, Millennials Stepping Off the Plate
According to a new survey of the US consumer market, even though Americans increased fine jewelry and watch purchases in 2014, the rate of growth declined. This reaffirms other indicators that while 2014 was a year of growth, it was a stunted growth. According to the 2014 Mid-Year Consumer Expenditure Survey, in the period between July 2013 and June 2014, …
Rethinking the Diamond Model
Sometimes, connecting figures in ways in which they are not usually put together can highlight a great truth – a truth hiding in plain sight. Most people who follow the diamond industry already are familiar with the following figures. Yet what they disclose in this context is perhaps new and may require rethinking the diamond model.
“Less for More” Turns into “More for Less”
After the 2008 financial crash, a De Beers research study found that consumers continued to spend during the holiday season, but more cautiously. They bought fewer items, yet were willing to spend more per item – if it had long-lasting value. They called this trend “less for more,” and consumers were indeed willing to buy nice diamond jewelry items. The …
Refusals, Strops, Contracts and Conspiracies – A Rough Market Review
In a way, there were no surprises this past week, and that in itself should be a surprise. De Beers offered a large rough diamond supply to its clients – at slightly higher prices – and the market just could not digest it, leading to many refusals. Why did the miner offer so many goods in an overloaded market? Why …