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RAPAPORT ® TRADEWIRE ®
November 30, 2023
Rapaport Market Comment - November 30, 2023

Market improving as holiday shopping begins. Round prices up 2% to 3% since mid-Oct. in some categories and 5% in 0.30 ct. SI1s, but discounts remain high. Strong Black Friday online sales. Steady US demand for 1 to 2 ct. commercial goods boosts India trade as Mumbai offices reopen. India Oct. polished exports -33% YOY to $1.3B, rough imports +9% to $1B as manufacturers bought ahead of shipment pause. Some retailers abandoning synthetics amid falling profits; “authentic” is Merriam-Webster word of the year. Cushion, 15.48 ct., fancy-intense-pink, IF diamond fetches $10.8M ($694K/ct.) at Christie’s HK. World Wildlife Fund urges industry to improve sustainability efforts.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.46% 0.60% -3.77%
0.50 ct 0.41% 1.49% -27.65%
1.00 ct 0.25% 0.83% -21.97%
3.00 ct -0.08% 0.16% -12.26%
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Market Reports
United States: Melee sellers holding firm on prices…
United States: Melee sellers holding firm on prices…
Belgium: Trade anticipating European Union ban on Russian diamonds…
Belgium: Trade anticipating European Union ban on Russian diamonds…
Israel: Sales better than expected but lower than last year…
Israel: Sales better than expected but lower than last year…
India: Stable orders for 1 to 1.50 ct., D-J, VVS-I1 diamonds…
India: Stable orders for 1 to 1.50 ct., D-J, VVS-I1 diamonds…
Hong Kong: Engagement rings and festive demand supporting trade…
Hong Kong: Engagement rings and festive demand supporting trade…
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Podcast: The Delicate Age of Edwardian Jewelry

Suzanne Martinez, co-owner of Lang Antiques, highlights the key features of the era’s innovations and influences.

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Inspired Jewels Shine at Salon Art + Design
By Anthony DeMarco

Ten exhibitors displayed eye-catching vintage and contemporary pieces at the New York fair.

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The Weekly Gems: News and Videos from Around the Web

On our reading list were a warning about retail discounts, reports of a new mine in Angola, and pictures of shiny watches in Dubai.

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Spending on category was 99% higher than average day in October, Adobe reports.
Jewelry Strong as Cyber Monday Sales Surpass Forecast
Spending on category was 99% higher than average day in October, Adobe reports.
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Cushion brilliant-cut, 15.48-carat stone is top seller at Hong Kong Magnificent Jewels auction.
Pink Diamond Nabs Supreme $11M Price at Christie’s
Cushion brilliant-cut, 15.48-carat stone is top seller at Hong Kong Magnificent Jewels auction.
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Figure beat NRF’s original prediction by more than 18 million.
Holiday Weekend Shopper Count Exceeds Expectations
Figure beat NRF’s original prediction by more than 18 million.
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Miner forecasts 2024 revenue increase.
Lucara Expects to Form New Supply Deals After HB Fallout
Miner forecasts 2024 revenue increase.
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Miner to focus on exploring for metals and minerals.
Rio Tinto Backs Out of Canada Diamond Project
Miner to focus on exploring for metals and minerals.
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Unmounted stone has high presale estimate of $5 million.
133ct. Yellow Diamond to Lead Sotheby’s New York
Unmounted stone has high presale estimate of $5 million.
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Revenue from jewelry, clocks and valuable gifts up 27% year on year in October.
Hong Kong Luxury Sales See Further Revival
Revenue from jewelry, clocks and valuable gifts up 27% year on year in October.
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Performance in municipality outweighs weak Chinese diamond demand.
Luk Fook Sales Rise Amid Hong Kong Rebound
Performance in municipality outweighs weak Chinese diamond demand.
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Environmental charity notes improvement — but believes the industry has a way to go.
Jewelry and Watch Brands Must Be More Transparent, Says WWF
Environmental charity notes improvement — but believes the industry has a way to go.
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Hong Kong jeweler reports loss of $7.5 million for first fiscal half.
Low Diamond Demand, Struggling Chinese Economy Dent TSL
Hong Kong jeweler reports loss of $7.5 million for first fiscal half.
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Jean-Marc Mansvelt will go from Chaumet to Berluti, while Charles Leung heads to Chaumet from Fred.
LVMH Shuffles Around Jewelry Chiefs
Jean-Marc Mansvelt will go from Chaumet to Berluti, while Charles Leung heads to Chaumet from Fred.
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Polished exports declined in October, latest figures show.
India’s Rough Imports Rise Despite Supply Freeze
Polished exports declined in October, latest figures show.
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