Diamond Market Update | September 3, 2026

U.S. jewelry sales revenue increased 11% in July compared with July 2025, even though the number of items sold declined 4%. Average spending per item rose 16%, while average spending on natural-diamond jewelry increased 17%. In simple terms, retailers sold fewer pieces but collected more revenue because customers spent more on each purchase. Review the July retail data from Tenoris.

Dealers are now encountering two different systems for describing laboratory-grown diamonds. GIA no longer gives D-to-Z laboratory-grown diamonds traditional letter-and-number color and clarity grades; its current assessments classify qualifying stones as either “Premium” or “Standard.” IGI continues to report laboratory-grown diamonds using the familiar 4Cs. This makes the laboratory name and report format commercially important: a GIA “Standard” assessment should not be translated into one assumed IGI color or clarity grade. Dealers must verify the report directly with the issuing laboratory, match its number to the girdle inscription and describe the stone using the terminology actually printed on that report. Review GIA's current assessment system and IGI's laboratory-grown reporting system.

Trade Insight: More Carats Did Not Produce More Revenue

India exported 1.41 million carats of polished diamonds during July, 4% more than in July 2025. However, the total value of those exports declined 18% to approximately $876 million, and the average export value fell 21% to $622 per carat. The important trade insight is that carat volume alone does not measure the strength of the diamond business. More physical product crossed the market, but considerably less money was realized for each carat. The figures establish a change in the value and volume of exports; they do not, by themselves, prove whether that change resulted from lower prices, a different mixture of sizes and qualities, different destinations or some combination of those factors. Review the July export report from India's Gem and Jewellery Export Promotion Council.

For assistance sourcing, evaluating or selling natural and laboratory-grown diamonds, visit the Pryce House Diamond Room.

Retail data, laboratory terminology and national export statistics measure different parts of the diamond market. None establishes the value of an individual stone. Diamond value depends upon the stone's identity, carat weight, cut, color, clarity, proportions, fluorescence, grading report, condition and current marketability.