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RAPAPORT ® TRADEWIRE ®
July 6, 2023
Rapaport Market Comment - July 6, 2023

De Beers and Botswana reach 25-year mining-rights and 10-year sales agreements. Okavango to receive 50% of Debswana goods over 10 years, and government will get opportunities to partner on high-value stones. Polished trading slow during US vacation period and with economic uncertainty. Buyer’s market, with prices falling as sellers reduce inventory. 1 ct. RAPI -2.4% in June, -23.9% year on year. Kimberley Process (KP) reports 2022 global rough production volume of 118M cts. (-1%) at $16.02B (+24%), with rough prices up; Russia exports totaled 36.7M cts. (-24%) at $3.9B (-4%), indicating impact from sanctions. Rough market quiet ahead of next week’s De Beers sight. Israel 1H polished exports -24% to $1.7B, rough imports -45% to $555M.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.36% -0.64% -2.21%
0.50 ct -1.04% -3.51% -23.11%
1.00 ct -0.75% -2.50% -24.13%
3.00 ct -0.50% -1.33% -16.07%
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Market Reports
United States: Concerns about market decline and the impact of lab-grown diamonds…
United States: Concerns about market decline and the impact of lab-grown diamonds…
Belgium: Dealers waiting for post-vacation rebound…
Belgium: Dealers waiting for post-vacation rebound…
Israel: Nice fancy shapes are pocket of strength, but supply is limited…
Israel: Nice fancy shapes are pocket of strength, but supply is limited…
India: Prices still declining because sellers need liquidity…
India: Prices still declining because sellers need liquidity…
Hong Kong: Engagement-ring market supporting sector amid economic challenges across the region…
Hong Kong: Engagement-ring market supporting sector amid economic challenges across the region…
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Podcast: A Crisis in Green Diamonds

The market is seeing a spate of green diamonds coming back from grading labs as treated, GGTL Laboratories cofounder Thomas Hainschwang tells Rapaport’s Joshua Freedman.

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How to Upsell Gen Z to a Natural Diamond Engagement Ring
By Jennifer Heebner

Savvy retailers are helping younger clients see the benefits of choosing mined stones.

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Tiffany & Co.: Reinventing an Icon
By Kate Matthams

What can jewelers learn from the brand’s efforts to attract young consumers?

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New agreement calls for opportunities to coinvest in exceptional stones.
De Beers, Botswana Poised to Partner on High-Value Diamonds
New agreement calls for opportunities to coinvest in exceptional stones.
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Weak US and Chinese demand put midstream under pressure in June.
Diamond Prices Fall as Retail Slump Continues
Weak US and Chinese demand put midstream under pressure in June.
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Sanctions by US and other G7 nations led to 24% decline year on year.
Russia’s Rough Exports Fell – but Didn’t Collapse – in 2022
Sanctions by US and other G7 nations led to 24% decline year on year.
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Okavango to receive up to 50% of Debswana production.
New De Beers Deal: Botswana to Keep More Diamonds
Okavango to receive up to 50% of Debswana production.
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Group provides space to share information following store robberies.
Jewelers Helping Jewelers Launches Sister Site for Support
Group provides space to share information following store robberies.
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Revenue from jewelry, watches, clocks and other valuable gifts up 52% in May.
Hong Kong Luxury Sales Grow Amid Tourism Spike
Revenue from jewelry, watches, clocks and other valuable gifts up 52% in May.
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Jeweler told some employees hours before locations were due to shut, according to report.
Alex and Ani Reportedly Closes 20 Stores and Its HQ
Jeweler told some employees hours before locations were due to shut, according to report.
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Net polished exports fall into negative territory due to returns from JCK show.
Global Slowdown Hits Israel’s Diamond Trade in June
Net polished exports fall into negative territory due to returns from JCK show.
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Jadeite necklace, green and yellow diamonds, and rubies are top items on offer.
Colored Stones to Lead Sotheby’s Jewelry Sale
Jadeite necklace, green and yellow diamonds, and rubies are top items on offer.
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Piece featuring rectangular step-cut, 3.89-carat stone between two emeralds will lead California Jewels sale.
Bonhams to Offer $100K Cartier Diamond Ring
Piece featuring rectangular step-cut, 3.89-carat stone between two emeralds will lead California Jewels sale.
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Stone is second over 100 carats from Letšeng this year.
Gem Diamonds Recovers 164ct. Yellow Diamond
Stone is second over 100 carats from Letšeng this year.
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Stone is third-largest ever recovered from deposit, and 37th over 100 carats.
Lulo Mine Yields 181ct. Rough Diamond
Stone is third-largest ever recovered from deposit, and 37th over 100 carats.
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