JCK Las Vegas show 2024

[Garry H (Cut Nut)]

The show started in earnest today.
I will try to get lots of photos.
But this is fun, pink lemonade and champagne dress!
Martin Rapaport in the background thinking it might be nice to snatch one.
Sadly it was only for the company clients

 

[0515vision]

Looking forward to more fabulous photos! Thank you from all of us who can’t go!!

 

[Garry H (Cut Nut)]

75 carat natural diamond rivier or tennis necklace at Rahaminov.

 

[Garry H (Cut Nut)]

Rena from NY at Julius Klein was telling a story about older women not always buying expense necklaces because their necks might not be as attractive as they prefer. But younger ladies often think they can make you look older.
So this piece is all natural 100 carat 290 stones and will give you some change to do a world trip first class out of a million.

 

[oncrutchesrightnow]

75 carat natural diamond rivier or tennis necklace at Rahaminov.

Do they have a raffle?

 

[Garry H (Cut Nut)]

Do they have a raffle?

Yes but it is $500,000 a ticket

 

[Garry H (Cut Nut)]

We had a great day.
Caught up with @John Pollard who we have not seen since pre Covid.
Did a few seminar presentations - they are always better in person than as webinars!
Met many new people and many old friends and acquaintances.
The show seems to have almost as many buyers as I recollect, not having been since 2019.

Gave pre publication copies of my soon to be releases diamond book to eminent folk including foreword JP and back cover blurbs Martin Rapaport and Rob Bates (JCK diamond blogger).

Discussed the reports that there are now LGD that fluoresce and debunked in person by Guy Borenstein from Stuller and Sharrie Woodring of GCAL - both eminent gemologist scientists.

And the back cover blurb from Martin.
PS Martin gave me my AKA nick name Cut Nut in the mid 90's. I knocked on the door of his NYC office and introduced myself as a diamond cut expert. He pulled out several rivkas with a diamond in each and asked me to tell him the proportions (he had the Sarine data). After 5 or six accurate assessments with just a loupe, he called me Cut Nut!

 

[V_sh]

75 carat natural diamond rivier or tennis necklace at Rahaminov.

Thanks for sharing Garry,
so valuable.

 

[kenny]

@Garry H (Cut Nut) thanks for the show coverage and pics.

Will your book be on Amazon?

 

[V_sh]

@Garry H (Cut Nut) thanks for the show coverage and pics.

Will your book be on Amazon?

you may check this link

Book by Garry Holloway | How to select the best diamonds

diamondgaryholloway.com

 

[Garry H (Cut Nut)]

@Garry H (Cut Nut) thanks for the show coverage and pics.

Will your book be on Amazon?

@kenny is just too fast!
That is a development site and the www.GarryHolloway.com should be the functioning on by Monday!
The books I have given out are pre publication promo's.
It will be on amazon etc in July.
When launched there will be a big discount for PS'ers in week one!

 

[V_sh]

@kenny is just too fast!
That is a development site and the www.GarryHolloway.com should be the functioning on by Monday!
The books I have given out are pre publication promo's.
It will be on amazon etc in July.
When launched there will be a big discount for PS'ers in week one!

Thanks for your generosity Garry,

So we'll wait for your updates

 

[Garry H (Cut Nut)]

I typed these notes over an hour and if you want more detail ask me please:
From left to right. Sean Moore, head of diamonds at Warren Buffets huge store in Omaha Nebraska.
Zulu runs a LGD up-market set jewellery manufacturing firm
Nick CEO of Lightbox (who are not growing
diamonds for jewellery anymore!)
George a huge grower and cutter in Surat.
And Edahn Golan excellent industry analysist and moderator:
Unit sales 49% of the total in chains that Edahn monitors
Der 32% were diamond engagement rings
Sean Moore
2016 tough decision based on - Appropriate behaviour – Transparent about value.
He told me later they focus on fair margins (he follows me on LinkedIn & we did a LGD webinar together in 2021 – he and others use my analogy of Toyota vs Mercedes clients )
Not important in their profit

Zulu
A growing category despite price falling (I challenge that once discounters get in retail prices will fall by 70-80%)
Consumers asking for Lab jewellery.
New luxury

Nick - Lightbox Lowered prices from 800 down to 500 per carat and stopped DER experiment.

George
4000 CVD machines in surat
Prices have dropped
Moving into fashion product

Edahn
Growth is now into other categories than rings – tennis bracelets, earrings and pendants etc

George: 275,000 carats a month a lot of electricity (70ct per CVD machine per month)
13% of us market
Nick - export data from India hard to get

Main demand?
Merc for Toyota price
Sean it's all price
They already have seen some first time LGD buyers move into natural (supporting my contention)

Zulu has a brand high end
Sustainable sells for young DERs
Gap between first jewelry and multiple pieces after that
All about designs and stories

Nick sustainability is important to Lightbox.

Sean said sustainability is not important.
Price is the main driver. Sustainable is growing but not main driver.
Repeat sales. Affordable. Relevancy
As natural and Lab diverge
But they bring in more new customers - people who would never afford a diamond
Relevant price points for entry

Zulu
Mindset of today's consumer 20 somethings
Retail has to give options

SUSTAINABILITY
Sean
Will they pay extra for it?
Only a small % will
A 5 to 10% discount changes behaviour
85% will choose a lower price natural over a sustainable traceability natural diamond

Zulu: stories count
Consumers consider it

George
SCS sustainable audit works for India (Indian carbon credits are a joke)
No audit in China
Surat building largest solar capacity (I wanted to ask how many acres per 1ct polished?)
How many Indians will starve as productive tropical farm land is taken over?

Zulu
Kids go for sustainable
Parents and boomers go for design

Edahn
My 16 year old daughter wants to buy a diamond mine

SINKING PRICES TOPIC:
George
Idling 1000 machines now because of Indian over production
Smaller goods will be replaced (not IMHO as there are way too many e.g. 3ct DEF VVS and VS1 IGI - 15,134 on a B2B platform today)
Oversupply makes prices fall
Retail margins high
Production margin is too low (wah wah)
Nick falling prices will sort out it all out but retail margins are important. Generic is very cheap so a story needs to back up higher margins.

DESIGN
Edahn
PANDORA SWAROVSKI
Fast changing limited editions keep clients coming back for more
Will Lab go that way

Zulu all about memories. Granny's ring - the price doesn't matter
Price drop is just Adjustment like lightbox drop 40% last week.
People expected tech products to drop in prices.
6 year old child 6 year old industry Give it time to ‘grow up’!

Sean: Granny's 1930 natural has value. Lab doesn't.
Falling prices hurt clients and our businesses. It's very hard on us. Borsheims has no lab upgrade policy.
40% units sold and only 3% of revenue!
Trade up and grow natural basics vs lab design which people keep.
In 2 years revenue will be so low after discounters pile in.
You have to increase units by 25% to stay at your same business level

George:
Tracking like a foetus ultrasound for your diamond
Sell them the seed from which it was grown
$100 for made to order plus $500 for the seed in a time capsule.
Sean responded beautifully - this is already available in natural diamonds

Edahn
Many retailers are considering pivoting away from lab.
What can lab growers do to stop retailer's dropping the product
Zulu. We exchange for the same price. No retailers have taken offer.
their range is $150,000 to $150 pieces.
Pushing retailers to buy stock and not take it on memo
Sean is there a halo effect?
" As long as consumers ask but when it's in Walmart and garages we may drop LGDs."
Lifetime relationship is important for Borsheims. Warren's principle.

 

[Garry H (Cut Nut)]

Did not get much time for bling photos but will try again tomorrow.
But this was cool from Osi Vitoria. Find retailers at [email protected]

 

[0515vision]

Thanks for those notes!! Fascinating!

 

[oncrutchesrightnow]

The trade notes were awesome. Looking forward to your book. Do you autograph?

Did you see any innovative/weird diamonds?

 

[Garry H (Cut Nut)]

Not sure I can autograph.
No interesting diamonds yet but working on creating interest in a diamond cut design award competition.
Went to Rapaport breakfast and the most people attending ever.

 

[Garry H (Cut Nut)]

$70,000 per carat.
Do the math!
Exceptionally rare.
Color is nicer than the photo

 

[Garry H (Cut Nut)]

Robert Procop Exceptional Jewels unheard sapphire ring.

 

[Garry H (Cut Nut)]

There is also tons of ordinary jewelry too. Although with the current gold price it's maybe no so ordinary?

 

[Garry H (Cut Nut)]

Quote from overheard conversation: "the Indians are selling themselves for 50 pieces of silver. They just keep dropping lab prices".

For the record there are about 100 booths selling LGD all in one area. Most are small generic. India with quite a few Chinese make up most of nationalities.
The huge end of the row booths have pictures of farmland taken over by solar or windfarms.
Some others are pushing AGS reports with a focus on cut quality.

 

[MissGotRocks]

Quote from overheard conversation: "the Indians are selling themselves for 50 pieces of silver. They just keep dropping lab prices".

For the record there are about 100 booths selling LGD all in one area. Most are small generic. India with quite a few Chinese make up most of nationalities.
The huge end of the row booths have pictures of farmland taken over by solar or windfarms.
Some others are pushing AGS reports with a focus on cut quality.

Current AGS reports included with GIA reports or old AGS reports before the merger?

 

[Garry H (Cut Nut)]

Current AGS reports included with GIA reports or old AGS reports before the merger?

Current AGS with GIA reports MSG

 

[Garry H (Cut Nut)]

Couture +$40,000 Diamond winner first followed by the other finalists in order:

 

[Garry H (Cut Nut)]

Couture Peoples Choice (and apologies for the photos - I should have made my own happy snaps as there is no scale in these.
This is life size. Think it is oxidized silver and was stunning IRL: Richard Wu


ROSMUNDO:



Chantecler Capri:

 

[Garry H (Cut Nut)]

Couture +$40,000 Diamond winner first followed by the other finalists in order:

Here is what I meant..phots with no scale don't work:

 

[oncrutchesrightnow]

OMG that mask.

 

[canuk-gal]

HI:

This thread ranks very high on the thrill-o-meter!!!!!!! Love it!!! Thank you Garry!

cheers--Sharon

 

[Garry H (Cut Nut)]

Sorry, been busy at CMAfest Naaasshville.
Editors choice:
First prize:

Second followed by third:

 

[Garry H (Cut Nut)]

First in Haute Couture
(UGH)

Second - hard to make!

and third (seriously???)