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RAPAPORT ® TRADEWIRE ®
May 23, 2024
Rapaport Market Comment - May 23, 2024

US suppliers cautiously optimistic for Las Vegas shows, as jewelers have reduced inventories. Indian market slow as dealers reduce buying. Prices of round, 1 ct., D-J, IF-VS1 diamonds continue to drop. SI2 improving. Fancy shapes weak. Reuters reports US govt. “has cooled on enforcing traceability” regarding Russian sanctions, with Signet lobbying against G7 Belgium solution. Plans for sale of De Beers creating uncertainty. Okavango May rough sales +84% YOY to $104M amid price drop in 3 gr. and larger sizes. FY 2024 sales at Richemont jewelry maisons +6% to $15.5B. De Beers and Signet to collaborate on natural-diamond marketing. Israel bourse elects Nissim Zuaretz as president.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -1.17% -3.33% -18.25%
0.50 ct -0.14% -0.85% -19.28%
1.00 ct -0.47% -2.59% -20.14%
3.00 ct -0.66% -2.38% -13.24%
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Market Reports
United States: Retailers buying well-cut ovals, emeralds and elongated cushions in 3 ct. and larger sizes…
United States: Retailers buying well-cut ovals, emeralds and elongated cushions in 3 ct. and larger sizes…
Belgium: Diamonds in short supply following drop in manufacturing levels…
Belgium: Diamonds in short supply following drop in manufacturing levels…
Israel: Dealers remain nervous amid sluggish US and Chinese demand…
Israel: Dealers remain nervous amid sluggish US and Chinese demand…
India: Melee moving in VS2 to SI2, with supply shortages…
India: Melee moving in VS2 to SI2, with supply shortages…
Hong Kong: Fancy shapes moving well in 1 to 2 ct., D-J, VVS-VS ranges, with jewelers offering deep discounts to attract consumers…
Hong Kong: Fancy shapes moving well in 1 to 2 ct., D-J, VVS-VS ranges, with jewelers offering deep discounts to attract consumers…
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GEMTalks: Why Light Performance Makes a Difference in Understanding Diamond Quality

IGI’s John Pollard and Ideal-Scope inventor Garry Holloway discuss this factor’s value in the series’ third LinkedIn Live.

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What’s Next for De Beers?
By Avi Krawitz

With parent company Anglo American ready to divest from De Beers, observers are raising questions about all that the influential diamond business offers.

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Podcast: What’s New at Hancocks

The venerable London dealer’s managing director, Guy Burton, takes us on a tour of the upgraded premises, where historical grandeur meets innovative retail experience.

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Will the show signal a turnaround in US diamond demand?
Five Market Trends to Watch Out for at JCK Las Vegas
Will the show signal a turnaround in US diamond demand?
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Fourth-cycle total down 21% year on year and 15% from April.
De Beers Looks to Long-Term Market Recovery Amid Drop in Sales
Fourth-cycle total down 21% year on year and 15% from April.
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10.20-carat stone is most significant of its cut and color to be offered in 12 years, according to company.
Christie’s Could Cash In When $12M Pure Pink Diamond Hits Auction Block
10.20-carat stone is most significant of its cut and color to be offered in 12 years, according to company.
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A Rockefeller and a utilities heiress are among the former owners of the items on offer.
Christie’s NY Will Showcase Colored Diamonds and Notable Collections
A Rockefeller and a utilities heiress are among the former owners of the items on offer.
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2.68-carat piece will lead Hong Kong Magnificent Jewels auction.
Christie’s Puts $6.4M Price Tag on Pink-Diamond Ring
2.68-carat piece will lead Hong Kong Magnificent Jewels auction.
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Pear-shaped, D-color, internally flawless stone will lead June 7 Magnificent Jewels sale.
53ct. Diamond Set to Score $5M at Sotheby’s
Pear-shaped, D-color, internally flawless stone will lead June 7 Magnificent Jewels sale.
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Company expects jewel to fetch up to $1.9 million at New York auction.
29ct. Harry Winston Diamond Ring to Add Sparkle to Bonhams Sale
Company expects jewel to fetch up to $1.9 million at New York auction.
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Category reached new record high of $15.49 billion for the full year.
Strong Asia Demand Buoys Richemont Jewelry Sales
Category reached new record high of $15.49 billion for the full year.
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Like-for-like at sixth tender falls 2.6% from previous sale.
Seasonal Slowdown Dents Petra’s Rough Prices
Like-for-like at sixth tender falls 2.6% from previous sale.
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Company wants consumers to view it as a full jewelry brand rather than a charms business.
Pandora Looks to New Collection to Change Its Image
Company wants consumers to view it as a full jewelry brand rather than a charms business.
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Overall category for hue up 0.2%, while blues and yellows falter.
Pinks Top Fancy-Color Price Index
Overall category for hue up 0.2%, while blues and yellows falter.
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Stone’s UV absorption was similar to what would be expected for yellow.
Cloud Inclusions Cause Light-Blue Color in GIA-Graded Diamond
Stone’s UV absorption was similar to what would be expected for yellow.
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Members of the editorial team pick their favorite pieces from the internet.
The New Bulgari Watch Collection, and This Week’s Other News
Members of the editorial team pick their favorite pieces from the internet.
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