Rumored discounts reflect diamond market’s difficult situation.
Diamond sells to American private collector, becoming most valuable jewel at auction this year.
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Market Comment: May 8, 2025
Tariffs impacting sales and sentiment. Prospect of US-India trade deal offering some optimism.
1 ct. RAPI +0.7% in April, with prices rising after tariff announcement and then stabilizing by end of month.
Demand muted at ongoing De Beers sight, with sightholders likely to refuse rough as miner keeps prices high.
Alrosa 1Q revenue -42% YOY to $709M, profit -29% to $177M.
US retail steady ahead of Mother’s Day.
Trade preparing for Las Vegas shows, with concerns about overseas attendance.
Indian melee demand softening as tariffs affect jewelry production.
Solid market for 5 ct. and larger diamonds as GemGenève show begins.
Brilliant Earth 1Q sales -3.5% YOY to $94M, loss of $3.3M vs. profit of $1.1M last year.