Automated Diamond Cutting (and other JCK 2023 takeaways)

JCK is always a fun, fast-paced, and exciting trip to Vegas. There are trends to see, friends to meet, and new ideas to discuss.

Here are a few big takeaways from JCK 2023.

• Retailers are positive. Business is within range of 2022, a banner year. 

• Classic Styles

• Design trends are focused on classic styles. Tennis bracelets, riviera necklaces, hoops, and eternity bands were on display.

• Similarly, bridal styling was concentrated on solitaires, 3-stones, elegant diamond shanks. 

• Lab diamonds are ubiquitous - LGD were on display throughout show. The increase in lab diamond supply has outpaced demand growth; hence the lower prices.

• Raising the average retail ticket (either by selling more carats and/or natural diamonds) was a key discussion topic.

• Fancy-shape natural diamonds especially ovals are very popular, while round demand is muted. There is a shortage of desirable natural diamonds, and production is expected to decrease over summer months. 

• Attendance/Traffic: On Friday morning, there were long registration lines, but the aisles felt empty on Saturday and Monday. The ground floor with tools and international exhibitors was quite busy. 

• Coolest Thing I Saw: Imagine a future where diamonds are cut by machine, save final polish. With an $800K price tag, the Synova diamond cutting solution automates the diamond cutting process. While expensive, the DaVinci cutting tool may disrupt the generations old pipeline and democratize diamond cutting.