Polished market selective as jewelers start to replenish inventory they sold during holiday season. Buyers lack urgency. Dealers uncertain amid slow demand and mixed price trends. Midstream inventory slightly down as polished production remains low. Rough supply has dropped due to Alrosa restrictions. Mountain Province 2022 sales +25% to $297M, average price +49% to $112/ct. India’s 2022 polished exports -3% to $22.9B, rough imports +4% to $18.5B. Luxury jewelers upbeat and expect China recovery to drive growth. Swatch 2022 jewelry and watch sales +2% to $7.8B. Birks Nov.-Dec. holiday same-store sales -3.2%. RJC appoints journalist and curator Melanie Grant as executive director.

Icerock Diamonds owner Sam Karmiel chats with Rapaport’s Avi Krawitz about his journey in the industry and how he started using Instagram to engage with customers and close sales.

The arts and antiques fair displayed a diverse array of important and quirky jewels.

Organizers and exhibitors expressed optimism for the market in 2023 following steady trading and buoyant sentiment at the Italian jewelry fair.