Rapaport TradeWire March 30, 2023

March 30, 2023

Rapaport Market Comment - March 30, 2023

Diamond market quiet amid stalled China recovery and US economic caution. US consumer confidence +0.8% in March despite banking turmoil and interest rate hikes, Conference Board says. Botswana government to buy 24% of HB Antwerp and supply HB with rough through Okavango Diamond Company; deal puts spotlight on delayed De Beers-Botswana negotiations. Chow Sang Sang 2022 revenue -7% to $2.6B, profit -30% to $58M. Lab-grown dominates discussions at Israel meetings. NDC appeals to trade to help fund marketing. Yoram Dvash reelected WFDB president, Ronnie VanderLinden as IDMA president. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 7 AND 14 DUE TO THE JEWISH HOLIDAY OF PASSOVER.

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RAPNET DIAMOND INDEX (RAPI™)

	Weekly	Monthly	Y2Y
0.30 ct	0.04%	1.36%	-3.27%
0.50 ct	-0.55%	-1.26%	-19.30%
1.00 ct	0.06%	-1.47%	-23.54%
3.00 ct	-0.10%	-0.58%	-16.41%

Market Reports

United States: Some anticipate a positive push for goods before Mother’s Day…

Belgium: Slow trading expected to continue into April as many businesses close for Passover…

Israel: Buzz in the bourse during various events taking place over International Diamond Week…

India: Polished production gradually increasing as Chinese jewelers have resumed buying…

Hong Kong: Consumers seeking lower prices, pushing demand toward budget items such as colored gemstones…

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Showstopping Pieces Spur Hopes of Strong Auction Season

By Leah Meirovich

Despite a poor showing at the fall sales, large colored diamonds and historical jewels look like they will gain steam this spring.

Rapaport Presentation: Synthetics, Russian Sanctions

Martin Rapaport addresses industry leaders at International Diamond Week.

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Watchmakers Are Turning Up the Sparkle

By Carol Besler

Time to shine: Manufacturers are putting a twist on classic setting techniques to get the most out of their diamonds.

Botswana to Buy 24% Stake in HB Antwerp

Okavango Diamond Company will supply rough to Belgian firm’s Gaborone factory.

Lab-Grown Not Cannibalizing Natural, Says De Beers Chief

Sectors will continue to diverge as technology improves, Bruce Cleaver predicts.

Heidi Horten Collection Expected to Fetch over $150M at Christie’s

Late Austrian billionaire’s jewelry assortment set to be most valuable in auction history.

Pink Diamond Could Break Price Record at Sotheby’s New York

10.57-carat stone carries estimate of $35 million.

$21M Pink Diamond to Lead Sotheby’s Hong Kong Auction

10.05-carat stone came from Lesotho’s Kao mine.

International Diamond Exhibition Opens in Israel

Trade fair welcomes record 450 buyers from over 40 countries.

Reviewing ‘Jewelry Guide: The Ultimate Compendium’

This wide-ranging book covers everything from history and gem properties to big brands and buying tips.

Rebel with a Cause: Ara Vartanian’s Edgy-Yet-Thoughtful Creations

The designer’s namesake brand, which celebrates its 20th anniversary this year, seeks to make comfortable jewels that fully harness gemstones’ energy.