Rapaport Research Report: The Year in Five Graphs

The latest edition of the Rapaport Research Report captures 2025 in data, using charts to show how tariffs and other developments have impacted the diamond industry.

Five graphs featuring exclusive RapNet data on polished prices and inventory tell the story of a frantic year for the trade that saw fundamental changes to supply chains and dramatic shifts in the performance of the US and Indian markets.

The figures show how dealers shipped diamonds across the world when US President Donald Trump announced duties on imports from India in April and again when he increased the levies, ultimately to 50%. RapNet inventory data and government import figures indicate exactly when these transfers of goods happened.

The December issue also employs RapNet price data to illustrate the contrast between rough and polished prices and the performance of marquise diamonds, one of the hottest items in a year characterized by a solid market for long fancy shapes. It portrays the strategic transformation at Signet Jewelers by analyzing transcripts from earnings calls under old CEO Gina Drosos and new boss J.K. Symancyk.

As always, the report includes exclusive RapNet data for 0.30-, 0.50-, 1- and 3-carat stones, including average prices, discounts, inventory by country, and search volume. In addition, it presents the volume of goods moving onto and off the RapNet platform, and the average time it takes them to do so.

If you are a subscriber to the Rapaport Research Report, click here to download the full edition.  

If you are not yet a subscriber and would like to receive the report as soon as it’s published, you can sign up here.

Image: David Polak.