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RAPAPORT ® TRADEWIRE ®
May 30, 2024
Rapaport Market Comment - May 30, 2024

Las Vegas shows open in uncertain market. Steady traffic and trading at Luxury, meeting low expectations. Industry hopes JCK will boost sentiment for 2H. Overseas attendance expected to be down due to high costs. US demand mixed, with synthetics and mid-market caution impacting sales. China slow. IF-VS prices continue to fall. Polished inventories rising. BHP abandons Anglo American takeover talks. AWDC supports sanction verification points outside G7. Christie’s confirms client-data breach. Cartier tutti frutti necklace sells for $8.7M at Christie’s HK. Rapaport Breakfast, Diamond Origin panel and Social Responsibility Conference to take place Sunday, June 2. Register at rapaport.com/jck24-events.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -1.15% -4.02% -18.89%
0.50 ct -0.70% -1.22% -19.10%
1.00 ct -2.22% -3.81% -21.83%
3.00 ct -0.54% -2.24% -13.68%
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Market Reports
United States: Market direction uncertain as dealers await results from JCK Las Vegas…
United States: Market direction uncertain as dealers await results from JCK Las Vegas…
Belgium: Retailers not stocking diamonds, only buying to fill orders…
Belgium: Retailers not stocking diamonds, only buying to fill orders…
Israel: Dealers nervous about future of industry amid uncertainty over supply from Alrosa and De Beers…
Israel: Dealers nervous about future of industry amid uncertainty over supply from Alrosa and De Beers…
India: Fancy shapes struggling; buyers only purchasing for specific demand…
India: Fancy shapes struggling; buyers only purchasing for specific demand…
Hong Kong: Dealers reducing prices due to lack of demand despite limited supply…
Hong Kong: Dealers reducing prices due to lack of demand despite limited supply…
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The Bourse President Who Wants to ‘Kill’ Synthetics
Nissim Zuaretz shares his views on lab-grown goods and the G7 sanctions, as well as his plans to reignite Israel’s diamond trade. 
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Antwerp Backs Multiple Verification Points for Diamond Sanctions
AWDC calls for “one or more” nodes outside G7.
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Cartier Tutti Frutti Necklace Smashes Estimate at Christie’s
Piece was top-selling lot of Hong Kong Luxury Week, bringing in $8.7 million.
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Christie’s Finds Hackers Stole ‘Some’ Data During Security Breach
Cyberattackers took a limited amount of personal client information, but not financial or transactional, according to company.
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New Group Aims to Unite Lab-Grown Industry
Grown Diamond Trade Organization is an ecosystem for producers, manufacturers and retailers.
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Asian Star’s Full-Year Revenue Falters
Mumbai-based diamond and jewelry manufacturer sees 21% drop in sales.
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Letšeng Mine Yields 212ct. Rough Diamond
Type IIa stone is sixth over 100 carats recovered since January.
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Lucapa Unearths 195ct. Rough from Lulo Mine
Stone is fourth over 100 carats this year, and sixth-largest from deposit.
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New President to Lead London Diamond Bourse
David Troostwyk succeeds Alan Cohen, who served multiple terms in the role.
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Diamonds Are Getting Old, and This Week’s Other News
Members of the editorial team pick their favorite pieces from the internet.
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