Rapaport TradeWire November 18, 2022

November 18, 2022

Rapaport Market Brief - November 17, 2022 Mixed sentiment ahead of Thanksgiving weekend. Jewelers seeing steady sales but remaining cautious amid economic uncertainty. US jewelry sales -3.8% in Oct., Mastercard reports. Brilliant Earth lowers outlook as 3Q sales +17% to $111M, profit +44% to $6M. Savvy retailers focused on enhancing consumer holiday shopping experience by improving multi-channel sales platforms. High end robust. Richemont's jewelry maisons 1H sales +24% to $6.6B, operating profit +22% to $2.4B. Dealers more upbeat than manufacturers. Rough market slow; De Beers Nov. sales -11% to $450M. Sotheby's Geneva totals $50M, but cushion, 5.53 ct., fancy-vivid-blue from De Beers collection fails to sell. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.64% -1.09% -6.86% 0.50 ct -0.57% -2.43% -7.97% 1.00 ct -1.63% -3.56% -2.80% 3.00 ct -0.66% -1.59% 8.80%

Market Reports   United States: Single-stone fancies and large diamonds slower than usual for this time of year…   Belgium: Dealers receiving calls, but buyers lack urgency and are pushing for higher discounts…   Israel: Top-quality small diamonds in demand…   India: Rough sector weak, but dealers say Russian goods are entering market at firm prices…   Hong Kong: Overall trading sluggish due to high inventories and uncertain consumer sentiment…

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The Evolution of De Beers' Strategy By Avi Krawitz Bruce Cleaver reflects on the changes that took effect in the six years he headed the diamond company. Read More

Antwerp and Dubai: A Tale of Two Diamond Hubs By Joshua Freedman The UAE city is the industry's rising star thanks to its convenient location, financial advantages, and ties to suppliers. Can Belgium compete? Read More

Top Stories of the Week eBay Opens Luxury-Swap Store in NY Diamond District Shoppers can exchange jewelry, handbags and watches for other items. See More Jewelry Sales Lose Steam in October – Mastercard Category down 3.8% as travel spending increases. See More US Retail Sales Boosted by Early Holiday Spending Promotions enticed shoppers in October, says NRF. See More $15M Blue Diamond to Hit Christie's Auction Block New York Magnificent Jewels will also feature 13.15-carat pink carrying estimate of up to $35 million. See More De Beers Sales Show Mixed Trend in Uncertain Market October-November sight smaller than September's but larger than a year earlier. See More Amid Apparent Crime Wave, Aleah Arundale Has a Solution Local jewelers need to talk, says founder of influential Facebook page. See More Richemont Jewelry Sales Jump Amid Global Strength Revenue up 24% in first half. See More Brilliant Earth Warns of Caution Among Consumers Jeweler reduces sales outlook ahead of fourth quarter. See More Lucara and HB Extend Sales Deal for 10 Years Miner and manufacturer to partner on large stones through December 2032. See More Petra Puts Tanzania Mine on Pause for Three Months Company needs to rebuild wall following recent collapse. See More Small-Stone Scanner Drives Sarine Sales Third-quarter revenues benefited from launch of Meteorite Plus machine. See More GIA Names New Board Chair Avanir Pharmaceuticals senior vice president Lisa Locklear has been a governor since 2012. See More GIA Spots Moissanite Mimicking Diamond – Twice Incidents highlight how easy the materials are to confuse. See More Sodiam Rough Tender in Angola Garners $29M Sale included special production from Lulo, Catoca and Luaxe mines. See More

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