The Market MGL Reports - The Current Update

The Market MGL Reports - Summer 2007

In the face of a very uncertain business climate, how have antique diamonds fared? In truth, remarkably well. The market for old euros and cushion cuts has demonstrated great resilience. The supply of stones in an I color and above remains very tight. This is for both 'old' stones and 'newly cut' diamonds.

The general retail public has been educated to ask for G-H colors and higher. There just aren't enough stones to fill the demand. The irony is that antique jewelry pieces rarely contain white diamonds. Typically, in antique jewelry, the original diamonds are J and darker but face whiter in their mountings. Newly manufactured cushion and Asscher cuts have been filling the public demand. Their supply is dependent on the availabilty of suitable rough, which has been very difficult. The market has been pricing these stones from 10-20 % of the Rapaport fancy list. Also,most of the 2-carat plus sizes in cushion and Asscher cuts that are H color and higher are newly cut. An old Asscher, no matter what the grading, is as difficult to find as ever.

The reason for this market strength is simple. The demand for antique jewelry has broadened dramatically in the past few years due to increased exposure in both the Trade and Media. Antique cut diamonds are also being used in contemporary settings. They are just another diamond option, no more exotic than radiant cuts.

In melee sizes, new production has increased the availability of calibrated stones in all qualities. A few years ago, putting together a layout of 3mm stones was extremely difficult. Today, it is relatively easy. This explains why so much vintage reproduction jewelry is now available.

The market for rosecuts is very strong. The contemporary design market is still driving the demand but the reproduction of antique jewelry with rosecuts has been growing as well. Calibrated rounds are in the highest demand but free-form shapes have their admirers as well. Very old stones have an almost cult following and command premium prices.

Briolette prices have held steady. Matched pairs of white stones in 2-carat plus weights are hard to find. Smaller sizes are generally available. Layouts of .30-.50 carats in all qualities are very desirable.

On the whole, the antique-cut diamond market is strong. We have selectively lowered prices for some sizes of L-M color ranges and raised the prices of certain sizes of H and higher. This is in keeping with the modern diamond market. Rosecut prices have moved up as well.

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