Diamond Trading Company (DTC) Sight 7 is traditionally a large Sight and sometimes gloomy one. While it’s unclear whether it’s the summer blues or just pre-season jitters, this year is true to form with Sightholders reporting a downbeat feeling, while clearing the tables of goods.

Sightholders reported that the goods are priced very high, leaving slim margins. Premiums on many goods are very low, and there are reports of some Sightholders selling DTC boxes at list price. There is also an unconfirmed report of sales below list price, meaning sales at a lost.

Behind this stand a weak U.S. economy and a cash liquidity crunch. With another medium sized diamond firm and former Sightholder closing its doors – Israel’s Delta – the concerns are not wholly misplaced.

One industry insider told IDEX Online that the situation is so tough there is a chance some Sightholders will turn down a few boxes at the next Sight –September 22-26, immediately following the Hong Kong trade show. Good sales at the Hong Kong show may, of course, invalidate the prediction.

A couple of Sightholders noted that their boxes suffered from a downgrade in mix, effectively pushing up the price by 2-5 percent. One Sightholder said it seemed like there were less of the Russian and South African goods.

The Sight is estimated at about $730 million.

Harry Winston’s (Aber) rough diamond clients reported a sharp price increase. After clients complained of lower mix of goods at the last allocation, this month the mix was vastly improved. However, the estimated 10 percent increase in prices has prevented any expressions of joy.