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RAPAPORT ® TRADEWIRE ®
November 25, 2022
Rapaport Market Brief - November 24, 2022

Jewelers optimistic ahead of Thanksgiving weekend. Top retailers combining e-commerce and improved in-store experience. US online sales flat at $64.6B for Nov. 1 to 21, Adobe says. Mall-based stores discounting to compete with Black Friday online promotions. Strong memo demand stimulating dealer market. Manufacturers cautious amid high polished inventory. Synthetics growing, but prices continue to slide. China weak as pandemic lockdowns continue. Chow Tai Fook FY1H sales +5% to $5.9B, profit -8% to $434M. US Sep. polished imports +18% to $1.7B, exports +24% to $1.4B. The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season.

 

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.08% -0.70% -7.58%
0.50 ct -0.48% -2.24% -8.79%
1.00 ct -0.35% -2.82% -3.41%
3.00 ct -0.67% -1.83% 7.54%
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Market Reports
<p><strong>United States: </strong>1 to 3 ct., G-I, SI2-I2 center stones selling well due to seasonally strong bridal segment…</p>
United States: 1 to 3 ct., G-I, SI2-I2 center stones selling well due to seasonally strong bridal segment…
<p><strong>Belgium:</strong> European buyers restrained due to dollar’s strength against the euro…</p>
Belgium: European buyers restrained due to dollar’s strength against the euro…
<p><strong>Israel:</strong> Selling difficult even as US jewelers make last-minute orders…</p>
Israel: Selling difficult even as US jewelers make last-minute orders…
<p><strong>India: </strong>Factories operating well below capacity as manufacturers seek to reduce excessive polished inventory…</p>
India: Factories operating well below capacity as manufacturers seek to reduce excessive polished inventory…
<p><strong>Hong Kong: </strong>Retailers preparing inventory for Lunar New Year (January 22) but cautious about buying in downward-trending market…</p>
Hong Kong: Retailers preparing inventory for Lunar New Year (January 22) but cautious about buying in downward-trending market…
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Webinar: Dealing with Uncertainty
By Avi Krawitz

The diamond industry is navigating a drop in demand and a rise in supply that is weighing on polished prices at the start of the holiday season.

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Tips for Building Your Estate-Jewelry Business
By Beth Bernstein

Don’t know where or how to buy and at what price? Experts give their insights.

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New Book Traces Tiffany’s Rise to Greatness
By Phyllis Schiller

Vision and Virtuosity explores how the New York jeweler developed into the high-end household name it is today.

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Top Stories of the Week
<p>13.15-carat piece was set to lead New York Magnificent Jewels auction.</p>
$35M Pink Diamond Pulled from Christie’s Sale
13.15-carat piece was set to lead New York Magnificent Jewels auction.
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<p>Consumers have spent $64.59 billion online since November 1, according to Adobe Analytics.</p>
US E-Commerce Holiday Sales on Par with Last Year
Consumers have spent $64.59 billion online since November 1, according to Adobe Analytics.
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<p>Consumers will take advantage of promotions, National Retail Federation predicts.</p>
Thanksgiving Weekend Set to Attract Record 166M Shoppers
Consumers will take advantage of promotions, National Retail Federation predicts.
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<p>Pinks and blues also enjoyed third-quarter gains.</p>
Yellows Lead Rise in Fancy-Color Price Index
Pinks and blues also enjoyed third-quarter gains.
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<p>Connecticut store is a partnership with Watches of Switzerland-owned Betteridge.</p>
De Beers Launches First North American Pop-Up
Connecticut store is a partnership with Watches of Switzerland-owned Betteridge.
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<p>Jeweler opened 933 new stores on mainland during first fiscal half.</p>
China Expansion Bolsters Chow Tai Fook Revenue
Jeweler opened 933 new stores on mainland during first fiscal half.
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<p>Company revenue down 11% for six months that ended September 30.</p>
Renewed China Restrictions Hit Hong Kong’s Tse Sui Luen
Company revenue down 11% for six months that ended September 30.
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<p>Californian brand acquires leading producer of single-crystal wafers.</p>
Diamond Foundry Buys German CVD Tech Specialist
Californian brand acquires leading producer of single-crystal wafers.
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<p>Provenance Proof spin-off allows buyers and sellers to trade responsibly sourced stones.</p>
Gübelin Launches Online Marketplace for Traceable Gems
Provenance Proof spin-off allows buyers and sellers to trade responsibly sourced stones.
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<p>Miner nonetheless notes weakening of market for its Zambian gems.</p>
Gemfields Sells 187,775ct. Emerald Cluster for Record Price
Miner nonetheless notes weakening of market for its Zambian gems.
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<p>Shipments up 7% year on year last month.</p>
US Demand Keeps Swiss Watch Exports Afloat
Shipments up 7% year on year last month.
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<p>Polished exports declined 26% in October.</p>
India Trade Slides Amid Uncertainty
Polished exports declined 26% in October.
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