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RAPAPORT ® TRADEWIRE ®
November 18, 2022
Rapaport Market Brief - November 17, 2022

Mixed sentiment ahead of Thanksgiving weekend. Jewelers seeing steady sales but remaining cautious amid economic uncertainty. US jewelry sales -3.8% in Oct., Mastercard reports. Brilliant Earth lowers outlook as 3Q sales +17% to $111M, profit +44% to $6M. Savvy retailers focused on enhancing consumer holiday shopping experience by improving multi-channel sales platforms. High end robust. Richemont’s jewelry maisons 1H sales +24% to $6.6B, operating profit +22% to $2.4B. Dealers more upbeat than manufacturers. Rough market slow; De Beers Nov. sales -11% to $450M. Sotheby’s Geneva totals $50M, but cushion, 5.53 ct., fancy-vivid-blue from De Beers collection fails to sell.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.64% -1.09% -6.86%
0.50 ct -0.57% -2.43% -7.97%
1.00 ct -1.63% -3.56% -2.80%
3.00 ct -0.66% -1.59% 8.80%
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Market Reports
United States: Single-stone fancies and large diamonds slower than usual for this time of year…
United States: Single-stone fancies and large diamonds slower than usual for this time of year…
Belgium: Dealers receiving calls, but buyers lack urgency and are pushing for higher discounts…
Belgium: Dealers receiving calls, but buyers lack urgency and are pushing for higher discounts…
Israel: Top-quality small diamonds in demand…
Israel: Top-quality small diamonds in demand…
India: Rough sector weak, but dealers say Russian goods are entering market at firm prices…
India: Rough sector weak, but dealers say Russian goods are entering market at firm prices…
Hong Kong: Overall trading sluggish due to high inventories and uncertain consumer sentiment…
Hong Kong: Overall trading sluggish due to high inventories and uncertain consumer sentiment…
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The Evolution of De Beers’ Strategy
By Avi Krawitz

Bruce Cleaver reflects on the changes that took effect in the six years he headed the diamond company.

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Antwerp and Dubai: A Tale of Two Diamond Hubs
By Joshua Freedman

The UAE city is the industry’s rising star thanks to its convenient location, financial advantages, and ties to suppliers. Can Belgium compete?

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Top Stories of the Week
Shoppers can exchange jewelry, handbags and watches for other items.
eBay Opens Luxury-Swap Store in NY Diamond District
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Category down 3.8% as travel spending increases.
Jewelry Sales Lose Steam in October – Mastercard
Category down 3.8% as travel spending increases.
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Promotions enticed shoppers in October, says NRF.
US Retail Sales Boosted by Early Holiday Spending
Promotions enticed shoppers in October, says NRF.
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New York Magnificent Jewels will also feature 13.15-carat pink carrying estimate of up to $35 million.
$15M Blue Diamond to Hit Christie’s Auction Block
New York Magnificent Jewels will also feature 13.15-carat pink carrying estimate of up to $35 million.
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October-November sight smaller than September’s but larger than a year earlier.
De Beers Sales Show Mixed Trend in Uncertain Market
October-November sight smaller than September’s but larger than a year earlier.
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Local jewelers need to talk, says founder of influential Facebook page.
Amid Apparent Crime Wave, Aleah Arundale Has a Solution
Local jewelers need to talk, says founder of influential Facebook page.
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Revenue up 24% in first half.
Richemont Jewelry Sales Jump Amid Global Strength
Revenue up 24% in first half.
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Jeweler reduces sales outlook ahead of fourth quarter.
Brilliant Earth Warns of Caution Among Consumers
Jeweler reduces sales outlook ahead of fourth quarter.
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Miner and manufacturer to partner on large stones through December 2032.
Lucara and HB Extend Sales Deal for 10 Years
Miner and manufacturer to partner on large stones through December 2032.
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Company needs to rebuild wall following recent collapse.
Petra Puts Tanzania Mine on Pause for Three Months
Company needs to rebuild wall following recent collapse.
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Third-quarter revenues benefited from launch of Meteorite Plus machine.
Small-Stone Scanner Drives Sarine Sales
Third-quarter revenues benefited from launch of Meteorite Plus machine.
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Avanir Pharmaceuticals senior vice president Lisa Locklear has been a governor since 2012.
GIA Names New Board Chair
Avanir Pharmaceuticals senior vice president Lisa Locklear has been a governor since 2012.
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Incidents highlight how easy the materials are to confuse.
GIA Spots Moissanite Mimicking Diamond – Twice
Incidents highlight how easy the materials are to confuse.
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Sale included special production from Lulo, Catoca and Luaxe mines.
Sodiam Rough Tender in Angola Garners $29M
Sale included special production from Lulo, Catoca and Luaxe mines.
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