Strength Test: Gem Pricing, May 2014

The gem trade looks to JCK Las Vegas for clues to the fall season

The colored stone market continues to move in a positive direction. Dealers have reported strong sales results at each of the major industry events to date: the gem shows in Tucson, Ariz.; the March jewelry show in Hong Kong; and Baselworld in Switzerland. Buoyed by the good news, market participants have now set their attention toward the next big test: JCK Las Vegas. The JCK show has traditionally been a reliable indicator of how the diamond and gemstone markets will perform in the second half of the year.

In the North American market, retail consumers remain budget conscious. They are shopping once again, but they appear to be sticking within a key range of price points. Modest price increases in select diamond categories have been reported but, in general, diamond prices are stable. In the colored stone market, demand continues to grow for many semiprecious stones. Beryls and garnets are experiencing good demand as retailers shift from pricey rubies and sapphires to more affordable gems with strong name recognition.