Diamond Market Trends May 2023

Posted by:
May 12, 2023

US Wholesale Certified Natural Diamonds

Broader Market Observations

After a significant decrease in the turn of diamond inventory for 3 consecutive quarters of 2022, sales in the last 3 months seem to be moving even as prices continue to slide. This is presumably because retailers are replenishing their stock in Q2 after finally being able to sell much of their certified natural diamonds inventory that they had built for the 2022 holiday season.

Inventory - Inventory levels of diamond wholesalers increased significantly in 2022 but have levelled out over the last 6 months
Prices - Prices continue to fall slowly and consistently
Turn - Slight improvement in sales over the last couple of months. With inventory levels remaining the same, this has resulted in a slight improvement in inventory turn.


While Ovals are outperforming the broader market, Rounds and Cushions seem to be underperforming.


Inventory turn of 1ct, 2ct and 4ct categories are slightly improving over the last 3 months. Whereas 1.5ct, 5ct+ and 0.70ct categories continue to be slow.


Better colors seem to be recovering slightly as compared to lower color diamonds.


VS clarity diamonds are holding up better than SI clarity diamonds. While SIs may still be turning slightly faster than VS goods, the delta on the reduction in turn has been more drastic. SIs are now only turning 1.4x times as compared to over 2x in 2021.

To know more about how Liquid Diamonds is helping jewelry and diamond businesses make data-driven decisions for diamond sourcing, contact Chetan Gupta, our CTO, at cgupta [at] liquid.diamonds