DiamondBuzz
China’s Diamond Jewellery Market Poised for U-Shaped Recovery: Liang Weizhang
Speaking at the Bharat Diamond Bourse Symposium , Chinese strategist Liang Weizhang outlined a cautious but improving outlook for China’s diamond and jewellery sector.
China’s jewellery market expanded from RMB 720 bn in 2021 to RMB 820 bn in 2023, before easing to RMB 780 bn in 2024. Gold’s share of retail sales surged to 73% in 2024, while diamonds shrank to 6%, hit by falling marriage rates, weak sentiment, oversupply, and lab-grown competition. The natural diamond market contracted from RMB 100 bn in 2021 to RMB 43 bn in 2024, with imports plunging over 70% by volume.
Signs of recovery emerged in 2025: jewellery sales rose 11% YoY in H1, and polished diamond imports jumped 43.5% between January–July, with June–July showing triple-digit growth. Prices for some categories have stabilised after steep declines.
Hong Kong’s jewellery trade remains vital, with retail sales down 6.3% in H1 2025 but rebounding 6.8% in June, pointing to revived high-end spending.
Lab-grown diamonds are gaining ground, but surveys show a strong consumer preference for natural stones—57% in mainland China and 86% in Hong Kong favour natural diamonds for their luxury and investment value.
While price declines of 20–30% marked 2024, stability has returned in recent months. Liang predicts a gradual U-shaped recovery driven by inventory clearance, wedding demand, and supply adjustments. Long-term growth will rest on tightening global supply and China’s expanding middle class, though tariff risks remain a challenge.
China and India must navigate competition with collaboration according to Liang.The stress was on resilience, adaptability, and global partnerships as keys to the industry’s future
DiamondBuzz
Sotheby’s Withdraws Rare 10-Carat Pink Diamond from Geneva High Jewelry Auction
The $20 million ‘Glowing Rose’ was expected to lead the sale but was removed after discussions with the consignor.
Sotheby’s has withdrawn a rare 10.08-carat fancy-vivid-pink diamond from its High Jewelry auction in Geneva, where it was estimated to fetch around $20 million. The Glowing Rose—a cushion brilliant-cut pink diamond set in a ring—was slated to be the star lot of the November 12 sale but never reached the auction block. The company did not disclose the reason for the withdrawal.
“The Glowing Rose is an absolutely beautiful pink diamond… however, following discussions with the consignor, the lot was withdrawn prior to the sale,” a Sotheby’s spokesperson told. The stone is notable as only the third cushion-cut vivid-pink diamond to appear at auction in the past decade and was showcased in Singapore and Taipei last month in a presentation mount by British jeweler Boodles.
Despite the withdrawal, the High Jewelry sale achieved CHF 29.8 million ($37 million), led by a 4.50-carat fancy-vivid-blue, internally flawless diamond that sold for CHF 4.8 million ($6 million). The event ran parallel to Sotheby’s Royal & Noble Jewels auction in Geneva.
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Sotheby’s Withdraws Rare 10-Carat Pink Diamond from Geneva High Jewelry Auction
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