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RAPAPORT ® TRADEWIRE ®
November 11, 2022
Rapaport Market Brief - November 10, 2022

Polished trading cautious as Indian suppliers return from Diwali break. US driving demand. Focus on memo as jewelers limit inventory during economic uncertainty. Rising expectations for the season; NRF projects Nov.-Dec. retail sales +6% to +8%. Consolidation continues as JBT reports number of jewelry businesses -2% to 23,702 in 3Q. Brands gaining market share in India; Titan Company 2Q revenue +22% to $1.1B, profit +30% to $101M. Fewer De Beers goods on secondary rough market. Blue Nile offering lab-grown bridal jewelry. GemGenève signals optimism in high end. Christie’s Geneva sells $58M (87% by lot), with pear, 18.18 ct., fancy-vivid-pink diamond going for $29M ($1.6M/ct.).

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.23% -1.23% -6.34%
0.50 ct -0.45% -3.18% -7.38%
1.00 ct -0.70% -3.18% -1.16%
3.00 ct -0.43% -1.71% 9.67%
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Market Reports
<p><strong>United States: </strong>High end doing well, with steady demand for D to F colors…</p>
United States: High end doing well, with steady demand for D to F colors…
<p><strong>Belgium:</strong> Large fancy shapes selling well and difficult to find…</p>
Belgium: Large fancy shapes selling well and difficult to find…
<p><strong>Israel:</strong> Rough sector cautious. Few De Beers goods available on the secondary market…</p>
Israel: Rough sector cautious. Few De Beers goods available on the secondary market…
<p><strong>India: </strong>Polished production levels low but will likely return to normal in second half of November…</p>
India: Polished production levels low but will likely return to normal in second half of November…
<p><strong>Hong Kong: </strong>Demand gradually improving from both local and mainland retailers but weaker than in previous years…</p>
Hong Kong: Demand gradually improving from both local and mainland retailers but weaker than in previous years…
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Podcast: Overoptimistic Retail?

Early projections for the US holiday season are upbeat, but that sentiment hasn’t filtered through to the rest of the diamond market, Rapaport’s editorial team observes.

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Diamond Trends with Avi Krawitz: Dealing with Uncertainty

The industry enters the holiday season with a mixed outlook. Trading has slowed amid economic challenges, but there are pockets of strength among jewelry retailers. In webinars on November 16 and 17, Rapaport Senior Analyst Avi Krawitz will examine the trends shaping the sector in the final months of the year and outline the state of the market as it heads into 2023.

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Positive Mood at GemGenève Fair
By David Brough

The second edition of the Swiss show this year enjoyed a jump in traffic, which bodes well for the top-tier gemstone and jewelry market.

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