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RAPAPORT ® TRADEWIRE ®
April 17, 2025
Rapaport Market Comment - April 17, 2025

Industry concerned about Trump tariffs and stock market declines and how they will affect consumer spending as well as wholesale and retail diamond prices. Uncertainty leading countries to freeze diamond exports to US and creating price volatility in the market. India net polished exports -14% YTD to $2.4B, net rough imports -33% to $2.8B. LVMH watch and jewelry division +1% YOY to $2.8B. Gemfields 2024 revenue -19% to $122M, with $101M loss. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APR. 18 DUE TO THE JEWISH HOLIDAY OF PASSOVER.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.57% 5.68% -13.75%
0.50 ct -0.04% 1.74% -16.02%
1.00 ct -0.08% 0.99% -21.82%
3.00 ct -0.13% 0.95% -14.11%
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Golconda Blue Could Fetch Up to $100M, Experts Say
By Leah Meirovich

Christie’s put $50 million high estimate on 23.24-carat diamond.

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Consumers stocked up to avoid higher prices from looming taxes.
US Retail Sales Rebound in March Amid Tariff Fears
Consumers stocked up to avoid higher prices from looming taxes.
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Figure down 17% to $13.3 billion for 12 months that ended March 31.
India’s Polished Diamond Exports Fall to Lowest in 20 Years
Figure down 17% to $13.3 billion for 12 months that ended March 31.
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Revenue for division up 1% as Tiffany sees “excellent growth.”
Jewelry Only Positive Segment for LVMH at Start of Year
Revenue for division up 1% as Tiffany sees “excellent growth.”
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Figure up 2% from 2023, while non-wedding jewelry outlay grows 28%.
Consumers Spend an Average of $5,500 on Engagement Rings – Survey
Figure up 2% from 2023, while non-wedding jewelry outlay grows 28%.
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Rough production up 27% versus same period of 2024 in first quarter.
Rio Tinto Output Rebalances Following Last Year’s Pause
Rough production up 27% versus same period of 2024 in first quarter.
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Miner posts deficit of more than $100 million for 2024.
Gemfields Takes Loans to Support Business as Loss Widens
Miner posts deficit of more than $100 million for 2024.
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The April 25 High Jewelry auction will also include a $4.5 million jadeite necklace.
$4M Diamond Earrings to Star at Revamped Sotheby’s Hong Kong Sale
The April 25 High Jewelry auction will also include a $4.5 million jadeite necklace.
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Former chief operating officer Andrea Slingsby will take his place on the board until he returns.
Michael Hill Founder Temporarily Steps Down from Business
Former chief operating officer Andrea Slingsby will take his place on the board until he returns.
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23.24-carat stone with royal Indian provenance to lead May 14 Magnificent Jewels sale in Geneva.
Christie’s Puts $50M Price Tag on Golconda Blue
23.24-carat stone with royal Indian provenance to lead May 14 Magnificent Jewels sale in Geneva.
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Jewels to appear for first time at Geneva auction.
Christie’s to Sell 21-Piece JAR Collection for over $3M
Jewels to appear for first time at Geneva auction.
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