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New Venue, High Spirits
This year the gems & jewellery industry’s most looked forward to fair, the JCK Las Vegas movedto its new venue, the much touted Mandalay Bay Hotel and Convention Centre.
By: Diamond World News Service
Jul 16 2011 7:28PM
Reference: 6160  

This year the gems & jewellery industry’s most looked forward to fair, the JCK Las Vegas movedto its new venue, the much touted Mandalay Bay Hotel and Convention Centre. While the change did cause some confusion in movement within the show, the new, larger location was appreciated by Diamond World reports.

On June 3, 2011, the JCK, Las Vegas Show opened at its spanking new venue, the Mandlay Bay Hotel and Convention Centre, a move which has been on the cards for some time. The larger, more spacious and luxurious location, with high level amenities buoyed up the spirits of participants and visitors alike from the word go. Exhibitors were particularly happy as the move afforded them more space, and they most were accommodated at the same level. However, the new venue did throw visitors into some confusion as stalwart participants have by now almost mastered the floor plan of the Venetian, the earlier venue. But such early teething problems apart, the venue was greatly appreciated by all.

More than 2,500 exhibiting companies from 22 countries took part in the event and the show got off on a positive note from the first day itself. The atmosphere at the show was filled with positive energy and business was brisk as well.

The show now has a separate Diamond Plaza especially placing most of the diamond dealers in close proximity to each other. As other major industry fairs have shown, diamonds were a particularly hot product attracting not only attention, but also high prices, which were absorbed by buyers, even those from the US. Interestingly, American buyers were also willing to pay on cash terms, against their earlier demand of extended credit lines. This it seems is due to the demand from the East, so sellers could hold firm.

This was reaffirmed at the show as a lot of Asian buyers were seen, reportedly there to also purchase the old unsold stock from US dealers. There was interest in fancy shapes like pears and hearts, we are told, as they compare favourably in terms of prices to same sized rounds. Dealers expect prices in fancies to go up in the near future.

At the retail level, jewellers have had to maintain prices, and hence retailers have to be innovative in offering goods. As a result there has been some downward adjustment made in terms of both diamond sizes and qualities as well as metal weight.

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