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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
<p><strong>United States: </strong>Single-stone fancies and large diamonds slower than usual for this time of year…</p>
United States: Single-stone fancies and large diamonds slower than usual for this time of year…
<p><strong>Belgium:</strong> Dealers receiving calls, but buyers lack urgency and are pushing for higher discounts…</p>
Belgium: Dealers receiving calls, but buyers lack urgency and are pushing for higher discounts…
<p><strong>Israel:</strong> Top-quality small diamonds in demand…</p>
Israel: Top-quality small diamonds in demand…
<p><strong>India: </strong>Rough sector weak, but dealers say Russian goods are entering market at firm prices…</p>
India: Rough sector weak, but dealers say Russian goods are entering market at firm prices…
<p><strong>Hong Kong: </strong>Overall trading sluggish due to high inventories and uncertain consumer sentiment…</p>
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
<p>Shoppers can exchange jewelry, handbags and watches for other items.</p>
eBay Opens Luxury-Swap Store in NY Diamond District
Shoppers can exchange jewelry, handbags and watches for other items.
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<p>Category down 3.8% as travel spending increases.</p>
Jewelry Sales Lose Steam in October – Mastercard
Category down 3.8% as travel spending increases.
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<p>Promotions enticed shoppers in October, says NRF.</p>
US Retail Sales Boosted by Early Holiday Spending
Promotions enticed shoppers in October, says NRF.
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<p>New York Magnificent Jewels will also feature 13.15-carat pink carrying estimate of up to $35 million.</p>
$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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<p>October-November sight smaller than September’s but larger than a year earlier.</p>
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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<p>Local jewelers need to talk, says founder of influential Facebook page.</p>
Amid Apparent Crime Wave, Aleah Arundale Has a Solution
Local jewelers need to talk, says founder of influential Facebook page.
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<p>Revenue up 24% in first half.</p>
Richemont Jewelry Sales Jump Amid Global Strength
Revenue up 24% in first half.
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<p>Jeweler reduces sales outlook ahead of fourth quarter.</p>
Brilliant Earth Warns of Caution Among Consumers
Jeweler reduces sales outlook ahead of fourth quarter.
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<p>Miner and manufacturer to partner on large stones through December 2032.</p>
Lucara and HB Extend Sales Deal for 10 Years
Miner and manufacturer to partner on large stones through December 2032.
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<p>Company needs to rebuild wall following recent collapse.</p>
Petra Puts Tanzania Mine on Pause for Three Months
Company needs to rebuild wall following recent collapse.
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<p>Third-quarter revenues benefited from launch of Meteorite Plus machine.</p>
Small-Stone Scanner Drives Sarine Sales
Third-quarter revenues benefited from launch of Meteorite Plus machine.
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<p>Avanir Pharmaceuticals senior vice president Lisa Locklear has been a governor since 2012.</p>
GIA Names New Board Chair
Avanir Pharmaceuticals senior vice president Lisa Locklear has been a governor since 2012.
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<p>Incidents highlight how easy the materials are to confuse.</p>
GIA Spots Moissanite Mimicking Diamond – Twice
Incidents highlight how easy the materials are to confuse.
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<p>Sale included special production from Lulo, Catoca and Luaxe mines.</p>
Sodiam Rough Tender in Angola Garners $29M
Sale included special production from Lulo, Catoca and Luaxe mines.
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