Rapaport TradeWire September 1, 2022

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September 1, 2022
 
Rapaport Weekly Market Comment - September 1, 2022

US market holding up well, but international trading under pressure with significantly weaker demand. China slow amid continued negative impact of Covid-19. Dealers uncertain about price levels. 1 ct. RAPI -3.6% in Aug. Top brands and retail programs buying at stable prices. Independents focused on memo. Polished inventory rising due to slowdown. Rough premiums declining on secondary market. De Beers Aug. sales +21% to $630M. Gem Diamonds 1H revenue -4% to $100M, profit -51% to $8.3M. Signet Jewelers 2Q sales -2% to $1.8B, profit -35% to $145M. Sotheby's to auction cushion, 11.15 ct., fancy-vivid-pink, IF diamond with $21M presale estimate. Vipul Shah appointed GJEPC chairman.

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RAPNET DIAMOND INDEX (RAPI™)
Size Weekly Monthly Y2Y
0.30 ct -0.03% -2.65% -6.22%
0.50 ct -0.37% -3.37% -2.41%
1.00 ct -0.58% -3.58% 6.33%
3.00 ct -0.45% -2.69% 16.04%
Market Reports
<p><strong>United States: </strong>Memo business getting stronger, with reasonable sell-through…</p>
United States: Memo business getting stronger, with reasonable sell-through…
<p><strong>Belgium:</strong> Trading low amid price uncertainty and drop in orders…</p>
Belgium: Trading low amid price uncertainty and drop in orders…
<p><strong>Israel:</strong> Select items doing well as demand shifts to better-quality diamonds…</p>
Israel: Select items doing well as demand shifts to better-quality diamonds…
<p><strong>India: </strong>Business quieter, as many took off Wednesday and Thursday for Jain holiday of Samvatsari…</p>
India: Business quieter, as many took off Wednesday and Thursday for Jain holiday of Samvatsari…
<p><strong>Hong Kong: </strong>Tourist traffic still limited due to quarantine measures…</p>
Hong Kong: Tourist traffic still limited due to quarantine measures…
View Full Report
 
Webinar: The Shape of the Fancies Market

Demand for fancy-cut diamonds has grown in recent years, as has the range of shapes available. In this panel discussion, experts will investigate the forces driving the sector and the challenges it faces.

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Diamonds: A Symbol of Marriage and Commitment
By Martin Rapaport

The current surge in demand for bridal jewelry is not a short-term trend but a reflection of a demographic shift in values.

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The State of India
By Avi Krawitz

The world's largest manufacturing center is relatively upbeat about the domestic jewelry market ahead of Diwali, but it is less optimistic about global prospects.

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Top Stories of the Week
<p>Inflation and a shift to spending on experiences and travel dented results for third fiscal quarter.</p>
Signet Sales, Profit Drop as Market Slows
Inflation and a shift to spending on experiences and travel dented results for third fiscal quarter.

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<p>Internally flawless stone to go under hammer in Hong Kong on October 5.</p>
Sotheby's to Auction Rare Pink Diamond
Internally flawless stone to go under hammer in Hong Kong on October 5.

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<p>Rough demand defied global economic uncertainty during seventh sight of 2022.</p>
De Beers Sales Strengthen in August
Rough demand defied global economic uncertainty during seventh sight of 2022.

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<p>Indian diamond sector should focus on higher-value goods, new head says.</p>
GJEPC Names Vipul Shah as Chairman
Indian diamond sector should focus on higher-value goods, new head says.

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<p>Jeweler expands network of showrooms in midwest US.</p>
Brilliant Earth Unveils Traceable Collection at New Stores
Jeweler expands network of showrooms in midwest US.

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<p>Stone bears some similarities to famous Hope and Wittelsbach-Graff stones, says GIA.</p>
De Beers Blue Likely a 'Super-Deep' Diamond
Stone bears some similarities to famous Hope and Wittelsbach-Graff stones, says GIA.

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<p>Group revenue down 7% year on year in first half.</p>
Chow Sang Sang Sales Drop Amid Covid-19 Wave
Group revenue down 7% year on year in first half.

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<p>Rough stone will feature at September trading session in Antwerp.</p>
Mountain Province to Sell 152ct. Yellow Diamond
Rough stone will feature at September trading session in Antwerp.

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<p>Shipments into country jumped 55% year on year.</p>
US Polished Imports Spike in June
Shipments into country jumped 55% year on year.

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<p>Growth in Canada outpaced Australia and New Zealand for fiscal 2022.</p>
Michael Hill Sales Rise Despite Covid-19 Disruptions
Growth in Canada outpaced Australia and New Zealand for fiscal 2022.

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<p>Average price of imports up, reflecting shift to larger stones.</p>
Hong Kong Diamond Trade Steady in 1H
Average price of imports up, reflecting shift to larger stones.

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<p>Jewelry from estate of philanthropist Mary Anne Sammons Cree also up for sale.</p>
Rare Orange-Red Diamond Appears at Auction
Jewelry from estate of philanthropist Mary Anne Sammons Cree also up for sale.

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<p>Drop in sales and jump in diesel prices affected bottom line in first half.</p>
'Extraordinary' Costs Hit Gem Diamonds Profit
Drop in sales and jump in diesel prices affected bottom line in first half.

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<p>Philadelphia-based brand became famous for its signature beaded products.<i><br />  </i></p>
'Caviar' Maker Lagos Celebrates 45 Years
Philadelphia-based brand became famous for its signature beaded products.

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