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Inventories, Net | 6 Months Ended
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Jun. 30, 2023
Inventory Disclosure [Abstract] |
Inventories, Net | INVENTORIES, NET Inventories, net consist of the following (in thousands):
| June 30, |  | December 31,
| 2023 |  | 2022
Loose diamonds | $ | 11,507 |  |  | $ | 11,894 |
Fine jewelry and other | 28,269 |  |  | 27,744 |
Allowance for inventory obsolescence | (363) |  |  | (307) |
Total inventories, net | $ | 39,413 |  |  | $ | 39,331 |
The allowance for inventory obsolescence consists of the following (in thousands):
| June 30, |  | June 30,
| 2023 |  | 2022
Balance at beginning of period | $ | (307) |  |  | $ | (260) |
Change in allowance for inventory obsolescence | (56) |  |  | 57 |
Balance at end of period | $ | (363) |  |  | $ | (203) |
As of June 30, 2023 and December 31, 2022, the Company had $23.0 million and $27.6 million, respectively, in consigned inventory held on behalf of suppliers which is not recorded in the unaudited condensed consolidated balance sheets.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent + Details
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