Editors

Rough demand is picking up, but why?

EditorsOct 23, 2009

Rough demand is picking up, but why?

I came across this great article on IDEX Online on Thursday by my colleague Edahn Golan in Israel attesting to an increase in rough-diamond demand ahead of De Beers’ upcoming sight. The sight, scheduled for Nov. 2-6, is the ninth...

I came across this great article on IDEX Online on Thursday by my colleague Edahn Golan in Israel attesting to an increase in rough-diamond demand ahead of De Beers’ upcoming sight.

The sight, scheduled for Nov. 2-6, is the ninth of the year and is usually a small sight, partly because the Diamond Trading Co. (DTC) sightholders buy what they need for the holiday rush prior to the first week of November. 

According to the article, however, this ninth sight is seeing a lot of sightholders submitting applications—requests to the DTC for extra rough—that will result in the sight totaling around $350 million, above the pre-determined allocation believed to be about $300 million.

This is great news for an industry where the DTC sights sunk as low as an estimated (by Rapaport Group) $129 million earlier this year, though still doesn’t represent a return to pre-crisis levels, when sights ranged between $600 million and $700 million.

What’s the source of this excess demand for rough?  


My first thought when I read this article was that sightholders must be feeling optimistic about the approaching holiday season in the United States and spending in November and December, even though an article I wrote just this week tells that shoppers are going to be hitting the malls earlier this year, either to spread out their spending or to make sure they get what they want before it’s out of stock.

In the article, though, Edahn presents another strong possibility: anticipated healthy demand in China for diamond gifts to mark the Chinese New Year, celebrated in February. He also mentions the fact that Indian banks are stepping up their lines of credit, lining the pockets of various industry players with cash that hasn’t been seen in months and fueling the pursuit of rough among buyers.

Perhaps more interesting than these theories, however, is what the article doesn’t say. Nowhere in the story does Edahn ever utter the words “United States” or “holiday season.”

This is further proof that many in the diamond industry have stopped worrying so much about the U.S. market—What’s happening there? When will demand return? When will debt-ridden consumers feel comfortable enough to start spending again?—and simply moved on to emerging markets such as China.
 
*Image courtesy of the De Beers Group


Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Movado Connect 2.0 watches
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment

The company plans to raise the prices of select watches to offset the impact of tariffs.

Zoë Chicco Bracelets
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable Environment

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Renato Cipullo Hematite Blaze Necklace
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ Necklace

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

Article Image 1.png
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

Stock image of shipping containers
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs Invalid

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.

Weekly QuizMay 30, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Britney Spears
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry Line

The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

Inoveo Platinum Grain image.jpg
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by Stuller

Sponsored by Stuller

antique_Vegas_2024_by_headshot_stories_9454.jpg
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the Globe

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

Grizzly Mining Pilala emerald
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat Emerald

It was featured in the miner’s latest sale, which brought in $24.8 million.

GemFind Logo
TechnologyMay 29, 2025
GemFind Launches AI Product Description Software

GemText AI uses artificial intelligence to generate tailored product titles, descriptions, and tags with jewelry-specific language.

Graff Fontainebleau Las Vegas
MajorsMay 28, 2025
Graff Unveils New Las Vegas Flagship

The 3,300-square foot location is the jeweler's largest store in North America.

Kim Kardashian
CrimeMay 28, 2025
8 Convicted in Kim Kardashian Jewelry Heist Trial

Aging and with myriad health issues, none will serve time for their roles in robbing the billionaire celebrity at gunpoint in 2016.

New York Liberty 2024 WNBA Championship Ring
CollectionsMay 28, 2025
NY Liberty’s 2024 Championship Rings Honor Historic Win

The WNBA team received rings imbued with meaning, from leaf motifs and its Liberty torch to the number of diamonds used.

Jewelers Board of Trade logo
MajorsMay 28, 2025
Andrew Rickard Named JBT President

A longtime executive at RDI Diamonds, Rickard has served on the JBT board for the past five years.

Logos for Manufacturing Jewelers & Suppliers of America and Jewelers of America
MajorsMay 27, 2025
MJSA to Become Part of Jewelers of America

The two organizations have signed an affiliation agreement that’s expected to be finalized in the coming weeks.

Al Capone Pocket Watch
AuctionsMay 27, 2025
Al Capone’s Patek Philippe Pocket Watch Back Up for Auction

The platinum and diamond watch is part of Sotheby’s upcoming Important Watches sale.

Kat Florence Lumina
AuctionsMay 27, 2025
182-Carat Paraíba-Type Tourmaline Sells for $487K

Recovered in Mozambique, “The Kat Florence Lumina” was part of Bonhams’ Hong Kong jewelry auction held last week.

Mark Henry Gumdrop Bypass Ring
TrendsMay 27, 2025
Amanda’s Style File: Candy-Colored Gemstones

Get a taste of the delicious candy-like gemstones in this Amanda’s Style File.

Stock image of police cars with their lights on
CrimeMay 23, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in Burglaries

JSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.

Bliss Lau Bright Ring
CollectionsMay 23, 2025
Piece of the Week: Bliss Lau’s ‘Bright’ Ring

From Lau’s “Love of a Kind” series, the engagement ring was inspired by the moon and holds a different meaning depending on how it is worn.

GIA pearl report
GradingMay 23, 2025
GIA Updates Pearl Classification System

The lab has adjusted the scale it uses for nacre grading.

GCALbySarine Diamond Journey Certificate_1872x1052.jpg
Supplier BulletinMay 22, 2025
How to Put Natural Diamonds Back in the Spotlight

Sponsored by GCAL by Sarine

The late West Virginia jeweler David Ettinger
CrimeMay 22, 2025
NY Jeweler Sentenced in Shoving Death of Colleague at IJO Show

David Walton will serve three years’ probation after an incident in a hotel bar led to the death of West Virginia jeweler David Ettinger.

Watches of Switzerland store in Mall of America
FinancialsMay 22, 2025
Watches of Switzerland’s Full-Year U.S. Sales Climb 14%

The retailer also provided an update on how the tariffs situation in the U.S. is affecting its business.

Jorge Adeler, Wendy Adeler, Valentina Adeler
IndependentsMay 22, 2025
Adeler Jewelers Celebrates 50 Years

The family-owned jeweler in Great Falls, Virginia, will be celebrating its golden jubilee with a year’s worth of events.

Jose Hess Design Awards 2025 Trophy
Events & AwardsMay 22, 2025
Jose Hess Design Awards Announce Judges

The nonprofit elected five judges who will decide the winners of its design competition.

MJSA 2025-2026 Buyer’s Guide
MajorsMay 22, 2025
MJSA Releases 2025-2026 Buyer’s Guide

This year’s edition includes articles on the favorite tools of notable designers, evaluating when to outsource production, and more.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy