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RAPAPORT ® TRADEWIRE ®
October 10, 2024
Rapaport Market Comment - October 10, 2024

Sentiment improving. Low production and upcoming Diwali break expected to reduce current high inventory levels. Rapaport Nov. auctions with viewings in NY, Dubai and Israel raised $8,585,719, with 81% sold by value. Focused demand creating shortages of select better items. Fancies and round SI oversizes stabilizing. Indian liquidity improving. US and India retail stable. Wholesalers buying selectively. 1 ct. RAPI for Sep. -4.1%. Sotheby’s totals $11M at HK Magnificent Jewels, with top four lots unsold. Signet CEO Gina Drosos to retire. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON OCT. 18 OR 25 DUE TO THE JEWISH HOLIDAY OF SUKKOT. Next Price List on Nov. 1.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.98% -3.51% -28.01%
0.50 ct -0.96% -4.27% -13.87%
1.00 ct -1.19% -4.24% -22.68%
3.00 ct 0.38% -1.02% -16.68%
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Market Reports
United States: Retail stores seeing steady sales…
United States: Retail stores seeing steady sales…
Belgium: Fancy colors selling, especially pinks…
Belgium: Fancy colors selling, especially pinks…
Israel: Activity low due to weak overseas demand, ongoing war, and Jewish festival season…
Israel: Activity low due to weak overseas demand, ongoing war, and Jewish festival season…
India: Good local market, supporting demand for small diamonds…
India: Good local market, supporting demand for small diamonds…
Hong Kong: Diamonds under 1 ct. selling better than larger sizes, with melee moving well…
Hong Kong: Diamonds under 1 ct. selling better than larger sizes, with melee moving well…
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China ‘Kaput,’ Synthetics Are Biggest Disruptor, Says Martin Rapaport

Influx of inherited wealth will open up opportunities for the industry, Rapaport chairman tells Diamond Club West Coast.

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GEMTalks: Discovering the Best Ways to Grade Mounted Gemstones

IGI’s senior director of education, John Pollard, and graduate gemologist Mark Reyes weigh in.

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This Diamond Dealer Attended India’s Wedding of the Century
By Joshua Freedman

Rupesh Dihora recalls his quest for celebrity selfies at the Ambani family’s bejeweled celebrations.

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1-carat RAPI down 4.1%.
Diamond Prices Decline in September
1-carat RAPI down 4.1%.
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Marquise-cut, 5.02-carat center stone is internally flawless.
$10M Blue Diamond to Lead Christie’s Hong Kong Sale
Marquise-cut, 5.02-carat center stone is internally flawless.
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Hong Kong Magnificent Jewels sale makes $11.1 million.
Sotheby’s Sale Disappoints as Top Items Go Unsold
Hong Kong Magnificent Jewels sale makes $11.1 million.
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Miner will maintain a five-year rough-supply agreement with Eira Thomas and HRA Group to use Clara for its own production.
Lucara Sells Diamond-Sales Platform to Former CEO
Miner will maintain a five-year rough-supply agreement with Eira Thomas and HRA Group to use Clara for its own production.
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Yellows fell further than other hues in third quarter, while pinks were mostly flat.
Fancy-Color Prices Stable Despite Slight Decreases
Yellows fell further than other hues in third quarter, while pinks were mostly flat.
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Labor Day weekend drives 3.8% year-on-year rise in category.
US Jewelry Sales See Holiday Uptick – Mastercard
Labor Day weekend drives 3.8% year-on-year rise in category.
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Revenue down 24% year on year in August.
Change in Spending Patterns Hampers Hong Kong Luxury Sales
Revenue down 24% year on year in August.
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More than 100 pieces will go up for sale for first time, including colored-diamond tie pin with $700,000 estimate.
Jewels from Royal Court of Bulgaria to Hit Sotheby’s Auction Block
More than 100 pieces will go up for sale for first time, including colored-diamond tie pin with $700,000 estimate.
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Seven pink and red Argyle stones ranging from 0.60 to 2.63 carats headline collection.
Rio Tinto to Hold Tender of 76 Fancy-Colored Diamonds
Seven pink and red Argyle stones ranging from 0.60 to 2.63 carats headline collection.
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Ruby and diamond ring leads auction, achieving $1.3 million.
Phillips Hong Kong Jewelry Sale Brings In Nearly $7M
Ruby and diamond ring leads auction, achieving $1.3 million.
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Move will give retailer access to media site’s established community and editorial expertise.
Watches of Switzerland Acquires Hodinkee
Move will give retailer access to media site’s established community and editorial expertise.
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Divestment will enable company to save $15 million to $18 million in closure-related costs.
Petra Finalizes Koffiefontein Mine Sale to Stargems
Divestment will enable company to save $15 million to $18 million in closure-related costs.
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