The natural diamond and high-end jewelry sectors are experiencing a period of selective resilience. While macro-market prices remain steady, structural shifts in consumer preference, inventory drawdowns, and geographic demand variations are creating distinct “winners and losers” across diamond cuts, sizes, and geographies.

• Macro Overview: Global markets and overall prices remain steady. Dossier prices continue to recover—particularly in the 0.30 ct. round collection goods—following a significant inventory drop.
• B2B Buyer Behavior: Demand remains patchy. Wholesale buyers are strictly purchasing to fulfill specific, pre-existing orders rather than buying for inventory.
• Category Winners: Sales are heavily concentrated in 2-carat and larger diamonds. While rounds are stable, long fancy shapes (Ovals, Marquises, Emeralds) are outperforming rounds in the 2 ct.+ category. High-quality Marquises, long Radiants, and long Cushions are in short supply.
• Shape Premiums & Trends: > * Marquise is currently the most expensive fancy shape.
  • Long Cushions are highly liquid, trading at a 20% to 25% premium over square cushions.
  • Antique cuts/styles and well-proportioned, elongated Ovals (D–I color, VS–SI clarity) see robust demand, especially in the US.
  • Illiquidity Risk: Poorly proportioned fancy shapes remain entirely illiquid.