Diamantaires Mostly Happy With Results Of JCK Show
June 02, 14While many jewelry retailers reported that they had a good show, with many orders being placed and new and old customers stopping by, the diamantaires were slightly less enthusiastic. The memory of the excellent Hong Kong show last September is still in peoples’ minds and many could not help but contrast – whether fairly or unfairly – the slower trade in Las Vegas with the active buying and selling that took place in Hong Kong.
“There’s been a lot of schmoozing; a lot of talking,” said Alain Spira of New York-based A.S. Diamonds. “It’s nothing like the Hong Kong show where people are really buying and selling. Here, it’s much more of a PR exercise. We are meeting our customers, our bankers, everyone. Anyone who is anyone is here,” he said, turning to greet yet another familiar face who had stopped by the booth.
Nilesh Shah, of Nice Diamonds, another New York firm, said the show had been good although he wished it was shorter. “Those who want to buy come in with an appointment,” he said. However, he admitted that once the serious buyers had been and gone, the new walk-ins began to arrive. “At the show, it’s mostly presenting our goods. They aren’t going to buy here, but later on they will remember what we have and will eventually buy.”
Unlike other traders, Shah said the fact that retailers do not want to buy until they have a need for it, does not bother him. “It’s better for me,” he said. “I don’t want them to be stuck with goods they cannot sell. I don’t mind carrying the inventory.”
In terms of what was popular, Shah said that he had received a lot of inquiries for pinks and blues, but when people heard the prices, they moved towards more affordable colors such as yellow and black. His most popular goods were sized from a third of a carat up to 1 carat, with rounds and princesses most popular in treated categories and rounds, radiants and cushions proving desirable in natural color goods.
Ben Barmatz, of Antwerp-based Royal Gem, agreed that the show had been good, with items in the 5-10-carat category doing well. Pear, emerald and ovals also proved stronger than rounds because of the differences in price. “Fancy shapes are giving more bang for the buck,” he said.
A diamantaire who did not wish to be named complained about the current mental status of the American retail industry. “They don’t know how to pull the trigger,” he said. “They look at our goods, they walk around the show and look at other goods, and they still don’t buy.”
He also pointed to the changing retail landscape saying that it seemed that the bigger jewelry players are getting bigger and the smaller, mom and pop establishments, are going out of business.
One of the reasons for this, he said, was that people are not buying for stock and are only buying goods when they need them. “It’s like going to a car dealership to buy a car and finding no vehicles in the lot,” he said.
JCK Las Vegas runs until June 3.