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RAPAPORT ® TRADEWIRE ®
May 15, 2025
Rapaport Market Comment - May 15, 2025

Steady US retail demand lifts sentiment. Mother’s Day season okay. Indian suppliers with US offices benefiting. Good trading in 5 ct. and larger diamonds at GemGenève. Reports of De Beers special deals stoke tensions in rough market. De Beers to close Lightbox. Lucara flags viability concerns. Indian rough demand declines amid summer slowdown in production and high rough inventory. Tariffs have cut off large proportion of polished exports, forcing dealers to find alternative markets. Indian retail slower than before. Geneva auctions: Sotheby’s sells cushion modified brilliant, 10.03 ct., fancy-vivid-blue, VS2 diamond for $21.5M ($2.1M/ct.); Christie’s garners $72M at white-glove sale.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.06% 1.41% -9.93%
0.50 ct -0.20% -0.43% -15.64%
1.00 ct -0.01% 0.27% -19.41%
3.00 ct 0.00% -0.48% -12.97%
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Market Reports
United States: Tariffs have boosted demand for diamonds located in US…
United States: Tariffs have boosted demand for diamonds located in US…
Belgium: D-F diamonds in demand…
Belgium: D-F diamonds in demand…
Israel: Traders not buying many goods in India due to difficulty selling…
Israel: Traders not buying many goods in India due to difficulty selling…
India: Polished production steady as manufacturers work through rough they imported in March and April…
India: Polished production steady as manufacturers work through rough they imported in March and April…
Hong Kong: Some mainland demand for round, 0.30 ct., 0.5 ct. and 1 ct. diamonds and for 5 ct. and larger high-quality diamonds…
Hong Kong: Some mainland demand for round, 0.30 ct., 0.5 ct. and 1 ct. diamonds and for 5 ct. and larger high-quality diamonds…
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Did De Beers Give Some Sightholders Special Prices?
By Joshua Freedman

Rumored discounts reflect diamond market’s difficult situation.

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Video Podcast: Tariffs, Diamonds and the US Consumer

Bespoke jeweler and licensed pilot Dan Moran assesses the impact of Trump’s policies.

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Parties have implemented 90-day pause to discuss rebalancing in a few strategic industries.
US and China Reach Trade Deal, Lower Tariffs by 115%
Parties have implemented 90-day pause to discuss rebalancing in a few strategic industries.
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Blue-diamond ring is top lot, smashing high estimate to bring in $12.7 million.
Christie’s Geneva Scores $72M with 100% Sell-Through
Blue-diamond ring is top lot, smashing high estimate to bring in $12.7 million.
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Diamond sells to American private collector, becoming most valuable jewel at auction this year.
10ct. Mediterranean Blue Nabs over $21M at Sotheby’s
Diamond sells to American private collector, becoming most valuable jewel at auction this year.
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53.14-carat yellow diamond, set to fetch up to $3.5 million, was among items without a buyer.
Top Lots Fail to Sell at Phillips Geneva Auction
53.14-carat yellow diamond, set to fetch up to $3.5 million, was among items without a buyer.
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Miner now expects revenue of up to $160 million versus its previous $195 million to $225 million.
Lucara Chops Guidance Amid Viability Concerns
Miner now expects revenue of up to $160 million versus its previous $195 million to $225 million.
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Company reports deficit of $24.7 million, compared with profit of $4.9 million a year ago.
Mountain Province Skids to Loss as Sales More than Halve
Company reports deficit of $24.7 million, compared with profit of $4.9 million a year ago.
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Ekati owner plans to partner with cutters, traders, jewelers and luxury brands on direct diamond-sales agreements.
Burgundy Goes All In on Downstream Deals, Closes Manufacturing Business
Ekati owner plans to partner with cutters, traders, jewelers and luxury brands on direct diamond-sales agreements.
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468.30-carat, amber-colored diamond found in Yakutia province.
Alrosa Unearths Largest Gem-Quality Rough in Russian History
468.30-carat, amber-colored diamond found in Yakutia province.
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Piece will lead May 27 Magnificent Jewels sale.
Sapphire Ring Set to Nab $12M at Christie’s in Hong Kong
Piece will lead May 27 Magnificent Jewels sale.
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Package of rough stones Zimbabwe government held includes over 6,000 additional carats.
15-Year-Old Released Parcel Has More Diamonds Than Expected
Package of rough stones Zimbabwe government held includes over 6,000 additional carats.
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Convenience and social media ads are driving increase in digital buying.
Online Jewelry Shopping on the Rise, Plumb Club Study Shows
Convenience and social media ads are driving increase in digital buying.
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Ajoy Chawla will succeed C. K. Venkataraman beginning January 1, 2026.
Titan Jewelry CEO Becomes Company Managing Director
Ajoy Chawla will succeed C. K. Venkataraman beginning January 1, 2026.
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