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RAPAPORT ® TRADEWIRE ®
November 16, 2023
Rapaport Market Comment - November 16, 2023

Sales improving and prices stable, with all eyes on holiday season. Steady US memo demand as retailers prepare for Christmas. High end better than mid-market. Richemont 1H jewelry sales (Cartier, Van Cleef & Arpels, and Buccellati) +10% to $7.4B. Brilliant Earth 3Q sales +2.5% to $114M; company lowers FY outlook amid slowdown in bridal segment. Indian manufacturers’ inventories falling as Diwali shutdown begins. Kimberley Process plenary ends in deadlock over Russia-Ukraine war. Rapaport warns G7 leaders of Russian sanctions loophole and introduces US Diamond Protocol. Lucara shaves $40M off 2023 sales forecast following split from HB. GIA’s Anna Martin retires. Designer Henry Dunay dies at 88.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.27% -0.04% -4.46%
0.50 ct 0.32% 0.83% -28.52%
1.00 ct -0.05% 0.27% -23.09%
3.00 ct 0.03% 0.26% -12.79%
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Market Reports
United States: Natural diamonds regaining market share from synthetics…
United States: Natural diamonds regaining market share from synthetics…
Belgium: Pears, ovals and marquises selling well…
Belgium: Pears, ovals and marquises selling well…
Israel: October polished exports down 1.7% at $425.2 million…
Israel: October polished exports down 1.7% at $425.2 million…
India: Industry shifts focus to retail during Indian holiday and wedding season, hoping steady demand for small diamonds will continue…
India: Industry shifts focus to retail during Indian holiday and wedding season, hoping steady demand for small diamonds will continue…
Hong Kong: Singles’ Day (11/11) saw steady purchases of pearls and gold, with some interest in lower-budget diamonds such as 0.30 to 0.50 ct., F-I, VVS-VS categories…
Hong Kong: Singles’ Day (11/11) saw steady purchases of pearls and gold, with some interest in lower-budget diamonds such as 0.30 to 0.50 ct., F-I, VVS-VS categories…
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Retailers Pushing for Smaller Lab-Grown Detectors – De Beers
By Joshua Freedman

LinkedIn Live addresses latest trends in diamond screening.

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Podcast: Origins in Focus with Ming Lampson

In this episode, the London-based designer talks us through her latest collection, which explores the genesis of ornamentation.

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The Weekly Gems: News and Videos from Around the Web

A Grand Tour of Van Cleef’s new collection, shifts in the Chinese luxury market, and Diwali shoppers’ enthusiasm for lab-grown are part of this week’s roundup.

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Rapaport warns G7 leaders of loophole in current rules.
Martin Rapaport’s Open Letter on Russian Sanctions
Rapaport warns G7 leaders of loophole in current rules.
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Revenue slips 0.1% in October, according to Census Bureau.
US Retail Sales Fall for First Time in Seven Months
Revenue slips 0.1% in October, according to Census Bureau.
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Proposal requires backing from all 27 member states.
EU Submits Plans for Sanctions on Russian Diamonds
Proposal requires backing from all 27 member states.
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Pair containing oval mixed-cut stones weighing 12.20 and 11.96 carats will lead New York Magnificent Jewels sale.
$12M Yellow-Diamond Earrings to Hit Christie’s Auction Block
Pair containing oval mixed-cut stones weighing 12.20 and 11.96 carats will lead New York Magnificent Jewels sale.
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Sales for the month up 6% year on year, according to Adobe Analytics.
Early Discounts Drive October Online Holiday Spending
Sales for the month up 6% year on year, according to Adobe Analytics.
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The producer of diamond-manufacturing equipment has been navigating the challenges of the ongoing war — but its CEO says the real difficulty is the slow market.
Israel’s Sarine Says It’s Business (Almost) as Usual
The producer of diamond-manufacturing equipment has been navigating the challenges of the ongoing war — but its CEO says the real difficulty is the slow market.
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Revenue up 10% year on year in first half.
Asia Rebound Boosts Richemont Jewelry Sales
Revenue up 10% year on year in first half.
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Miner cites market slowdown as additional reason for lower 2023 sales forecast.
Lucara Slashes Outlook Following Severed HB Deal
Miner cites market slowdown as additional reason for lower 2023 sales forecast.
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Revenue up 6% in third quarter.
Pandora Raises Full-Year Forecast Amid ‘Healthy’ Sales
Revenue up 6% in third quarter.
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Recovery in bridal demand has been slower than expected, jeweler says.
Brilliant Earth Lowers Outlook Amid Economic Challenges
Recovery in bridal demand has been slower than expected, jeweler says.
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Lab-grown provider teams up with Roseate and The Future Rocks.
Lightbox Ventures into First Design Collaborations
Lab-grown provider teams up with Roseate and The Future Rocks.
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Miner sold some inventory to joint-venture partner De Beers and is holding remainder in stock.
Weak Market Sends Mountain Province into Red
Miner sold some inventory to joint-venture partner De Beers and is holding remainder in stock.
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Senior vice president of institute and industry relations will leave in December after nine years.
GIA Executive Anna Martin Set to Retire
Senior vice president of institute and industry relations will leave in December after nine years.
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Designer created “Sabi” finish, a Japanese-inspired gold technique.
Pioneering Jeweler Henry Paul Dunay Dies at 88
Designer created “Sabi” finish, a Japanese-inspired gold technique.
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Opal ring and set of Paraiba tourmalines take Best of Show honors in Spectrum and Cutting Edge contests.
Colored Stones Steal Spotlight at AGTA
Opal ring and set of Paraiba tourmalines take Best of Show honors in Spectrum and Cutting Edge contests.
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