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Mixed reviews from diamond players at JCK 2023

Diamond suppliers atJCK Show 2023 had low expectations going into the show. In that context, “the show was not great, but it wasn’t horrible either,” observed Michael Indelicato, CEO of RDI Diamonds.

The shows did not boost the market as many hoped it would. Polished prices declined in May.

“Buyers were focused on finding what they needed to fill specific orders, especially in fancy shape diamonds where inventory is limited, and they are limiting their inventory purchases,” explained Akshay Shah, director of sales for the solitaire division of Dharmanandan Diamonds, an India-based manufacturer.

There was good demand for larger stones above 3 carats, reflecting the robust high-end luxury consumer who is not affected by fluctuating economic conditions.

Most explained the slowdown was impacted by the prevailing economic uncertainty, while rising competition from lab-grown has also impacted the market.

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