Rapaport TradeWire May 26, 2022

Diamond Jewelry May 26, 2022
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May 26, 2022
 
Rapaport Weekly Market Comment - May 26, 2022

News: Polished trading sluggish but suppliers to large jewelry retail brands doing well. Expectations rising for June 8-13 Las Vegas shows with dealers relying on US market to stimulate growth. Chinese buyers cautious amid slow retail sales. High inflation, Russia supply constraints and Chinese Covid-19 restrictions fueling uncertainty. Melee hot as lack of Alrosa supply creating shortages. India April polished exports -3% to $2.2B, rough imports -23% to $1.3B. Richemont FY jewelry & watch revenue +49% to $11.7B, operating profit +65% to $4B. Christie's HK sells $56.3M (86% by lot), with rectangular, 3.06 ct., fancy vivid blue, IF, Moussaieff diamond ring going for $4.9M ($1.6M/ct.).
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RAPNET DIAMOND INDEX (RAPI™)
Size Weekly Monthly Y2Y
0.30 ct 0.2% 0.7% 0.1%
0.50 ct 0.0% -0.4% 8.7%
1.00 ct 0.1% -0.6% 22.4%
3.00 ct 0.1% -1.0% 24.9%
Market Reports
<p><strong>United States: </strong>Difficult to fill orders for fine-quality melee due to shortages and high prices…</p>
United States: Difficult to fill orders for fine-quality melee due to shortages and high prices…
<p><strong>Belgium:</strong> Rough demand strong on secondary market in absence of Russian production…</p>
Belgium: Rough demand strong on secondary market in absence of Russian production…
<p><strong>Israel:</strong> Large suppliers to US and European retail brands doing well…</p>
Israel: Large suppliers to US and European retail brands doing well…
<p><strong>India: </strong>Some cutters shifting to lab-grown to fill supply gaps and keep workers busy…</p>
India: Some cutters shifting to lab-grown to fill supply gaps and keep workers busy…
<p><strong>Hong Kong: </strong>Jewelry retail picking up but consumers focused on lower price points…</p>
Hong Kong: Jewelry retail picking up but consumers focused on lower price points…
View Full Report
 
Podcast: How to Buy at Auctions
From Jewelry Connoisseur

Specialist and adviser Sharon Novak shares insights and real-life stories on bidding successfully at jewelry sales.
Listen Now
 
The Trust Relationships Behind Ethical Supply
By Leah Meirovich

Small retailers rely on an honor system with their vendors to ensure they know the origins of the stones they sell.
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Tackling the Bench Jeweler Shortage
By Jennifer Heebner

Finding skilled workers to craft pieces is getting harder, forcing the industry to take a good look at its pay levels and recruiting practices.
Read More
Top Stories of the Week
<p>India-based Greenlab created the marquise step-cut, 27.27-carat diamond, which has no color enhancement.</p>
IGI Grades Largest Polished Lab-Grown
India-based Greenlab created the marquise step-cut, 27.27-carat diamond, which has no color enhancement.

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<p>Jadeite necklace was top seller, raking in $8.8 million.</p>
Christie's Garners $56M at Hong Kong Sale
Jadeite necklace was top seller, raking in $8.8 million.

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<p>Sales rose 14% in three months ending April 30.</p>
Macy's Notes Shift to Occasion-Based Spending
Sales rose 14% in three months ending April 30.

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<p>Revenue from category jumped 49% for the 12 months ending March 31.</p>
Richemont Sees Highest Annual Jewelry Sales
Revenue from category jumped 49% for the 12 months ending March 31.

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<p>Weight-based system often made it uneconomical to put large, low-quality stones through Galaxy machines, company says.</p>
Sarine Adopts Per-Value Pricing for Rough Scans
Weight-based system often made it uneconomical to put large, low-quality stones through Galaxy machines, company says.

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<p>New acquisitions and strong demand for luxury jewelry and timepieces drove revenue growth in fourth fiscal quarter.</p>
Watches of Switzerland Sales Surge
New acquisitions and strong demand for luxury jewelry and timepieces drove revenue growth in fourth fiscal quarter.

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<p>Kennedy North America CEO had been chair of Jewelers' Security Alliance since 2019.</p>
Luxury Watch Veteran Steven Kaiser Dies
Kennedy North America CEO had been chair of Jewelers' Security Alliance since 2019.

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<p>Piece brought in $3.2 million at New York Jewels sale.</p>
Cartier Bracelet Crushes Estimate at Bonhams
Piece brought in $3.2 million at New York Jewels sale.

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<p>With technology constantly evolving, artificial intelligence has quickly become a buzzword in making customer connections.<em><br /> </em></p>
How Machine Learning Is Changing Retail
With technology constantly evolving, artificial intelligence has quickly become a buzzword in making customer connections.

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<p>D-color stone has a high estimate of $1.3 million.</p>
Phillips to Offer 18ct. Diamond in New York
D-color stone has a high estimate of $1.3 million.

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<p>Imports jumped 41% before impact of Russia-Ukraine war began.</p>
US Polished Trade Grows in First Quarter
Imports jumped 41% before impact of Russia-Ukraine war began.

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