International Fancy Color Diamond Dealers Talk About the Market Dynamics, Covid, and More…
For the first time in two years, people were able to travel from around the world to attend the GemGeneve international gem and jewelry show that took place in Geneva on November 4-7, 2021. Energy and excitement filled the air as attendees expressed their delight at finally meeting up again in person after two years of restricted travel. The enthusiastic smiles that filled the room shone as brightly as the unique, exquisite diamonds at the exhibition.
The FCRF caught up with several key exhibitors to get their inside take on market dynamics and trends. Here are Rayah Levy's thoughts on GemGeneve and the industry overall:
1. According to the last FCD index, Yellow diamonds have increased in price. Have you noticed increased demand in that category?
Rayah: Yes, there has been a larger demand for Yellow diamonds in the general market. I primarily focus on Pinks and Blues since we are a color diamond investment group. There is currently a significant difference between Pinks and Blues. I find that Pinks have the strongest demand due to the closure of the Argyle mine which has led to significant price increases.
2. Since COVID, do you feel the market has adapted to carrying out transactions through digital platforms such as Zoom, email, and WhatsApp in place of face-to-face transactions? Have clients become more open to remote transactions?
Rayah: People are adapting, and we all use digital platforms to communicate. However, because natural color diamonds are rare and are a large investment, I don’t purchase anything without an in-person viewing. Our clients want in-person meetings to finalize any investments as opposed to Zoom meetings. It’s unclear whether that will change. Many financial institutions consider fancy color diamonds a major trading commodity. Digital platforms may lead to fewer in-person sales and positively affect the retail market.
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About FCRF:
The FCRF is the foremost authority for Natural Fancy Color Diamonds. The means provided by the FCRF cover untapped aspects that are essential for anyone who chooses to stay relevant in the world of Fancy Color. As opposed to the largely available information about colorless diamonds provided by the GIA, and prices published by other channels, the reliable knowledge about Natural Fancy Color Diamonds is limited and incomplete. The FCRF is here to close this gap with innovative tools, advanced services, and useful commercial data. The unique knowledge provided to our members imparts expertise and legitimacy where specialty is a must.
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