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RAPAPORT ® TRADEWIRE ®
December 18, 2025
Rapaport Market Comment - December 18, 2025

US consumer demand steady as retailers make final festive push. NRF predicts record 158.9M shoppers on Super Saturday (Dec. 20). US suppliers fulfilling last-minute orders and satisfied with sales, but weakness in 0.30 to 0.50 ct. prompting them to reduce prices of local goods. 2 ct. stable. Prices of 3 to 4 ct. fancies firm amid strong demand, with rounds in that size seeing stable prices. 7 ct. and larger doing well. Rough slow following De Beers sight; market predicts possible Jan. price cut. India Nov. polished exports +38% YOY to $920M, rough imports +59% YOY to $926M. Mexico approves tariffs on Indian goods; diamonds likely spared for now. Rapaport wishes everyone happy holidays.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -1.50% -9.72% -17.40%
0.50 ct -1.77% -7.26% -24.47%
1.00 ct -0.74% -2.49% -8.78%
2.00 ct -0.53% -1.11% -0.40%
3.00 ct 0.04% -0.34% -0.06%
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Market Reports
United States: Suppliers reasonably happy with holiday season to date…
United States: Suppliers reasonably happy with holiday season to date…
Belgium: Rough quiet amid oversupply, especially in smalls…
Belgium: Rough quiet amid oversupply, especially in smalls…
Israel: Market split continues: 3 ct. and up robust, while goods under 1 ct. slow…
Israel: Market split continues: 3 ct. and up robust, while goods under 1 ct. slow…
India: Many companies have set up US offices, removing need for buyers to visit India…
India: Many companies have set up US offices, removing need for buyers to visit India…
Hong Kong: Long fancies of 1.70 ct. and up selling well in local market…
Hong Kong: Long fancies of 1.70 ct. and up selling well in local market…
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India Diamond Trade Stays Calm as Mexico Approves Tariffs
By Joshua Freedman

New policy does not impact jewelry sector, says tax expert Supreme Kothari.

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Revenue up 0.6% from October and 4.5% year on year, reports NRF.
US Holiday Spending on Track as Retail Sales Rise in November
Revenue up 0.6% from October and 4.5% year on year, reports NRF.
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Country is already suffering economically and highly dependent on diamond sector, report says.
IMF Warns Botswana Not to Buy De Beers
Country is already suffering economically and highly dependent on diamond sector, report says.
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The 2.50-carat stone’s phosphorescence levels are more common in lab-grown, institute says.
Natural Diamond’s UV Afterglow Prompts GIA to Check If It’s Synthetic
The 2.50-carat stone’s phosphorescence levels are more common in lab-grown, institute says.
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NRF foresees 158.9 million US consumers buying gifts the final weekend before Christmas.
Super Saturday Shoppers Set to Hit New Record
NRF foresees 158.9 million US consumers buying gifts the final weekend before Christmas.
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Lab to show source countries for peridot, opal, jade and demantoid garnet.
GIA Updating Gem Reports, Offering Origin Info for More Stones
Lab to show source countries for peridot, opal, jade and demantoid garnet.
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Trade group to honor Tiffany & Co., jeweler CD Peacock, and industry figure Anna Martin.
Diamonds Do Good Announces 2026 Award Recipients
Trade group to honor Tiffany & Co., jeweler CD Peacock, and industry figure Anna Martin.
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Figure down 2.5% from 2024 holiday season so far, but projections show post-Christmas surge.
US Consumers Making Fewer Product Returns This Year – Adobe
Figure down 2.5% from 2024 holiday season so far, but projections show post-Christmas surge.
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Paris auction rakes in $10.5 million.
Top Jewels Beat Expectations at Christie’s
Paris auction rakes in $10.5 million.
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Lot had estimate of $1.5 million at December 11 sale, which totaled $11.8 million.
Pink Diamond Starring in Sotheby’s New York Auction Goes Unsold
Lot had estimate of $1.5 million at December 11 sale, which totaled $11.8 million.
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Leading piece sells for $776,490 at London auction.
Emerald Ring Beats High Estimate Sixfold at Bonhams
Leading piece sells for $776,490 at London auction.
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