Pastor-Genève News Update

As the world governments work through the global credit crunch, several global economies have slowed down as unemployment rises and sales revenues decline.  However, the luxury market has still held up reasonably well, with Harry Winston and Bulgari reporting reasonable results based on last years earnings.  The colored diamond market is well positioned in countries such as India, China and the Middle East, where significant wealth funds are being used to cushion the economic slowdown. 

The colored diamond market also has the advantage of being in the hands of wealthier buyers who are certainly not immune but will generally be less affected by the impending economic slowdown.  This is evidenced by the strong sales at the auctions so far this year in New York and Hong Kong as well as the Argyle pink diamond tender, where all the pieces were sold and the entire sale was oversubscribed.

Pastor Geneve will be quite busy in the coming months as we approach the busy Christmas and holiday season.  Pastor Geneve will be publishing several reports on the market in the coming months to keep our clients informed of market activity, including a recent report on the auction market along with a new colored diamond chronicle on vivid yellow diamonds.