Rapaport TradeWire November 25, 2022

November 25, 2022

Rapaport Market Brief - November 24, 2022 Jewelers optimistic ahead of Thanksgiving weekend. Top retailers combining e-commerce and improved in-store experience. US online sales flat at $64.6B for Nov. 1 to 21, Adobe says. Mall-based stores discounting to compete with Black Friday online promotions. Strong memo demand stimulating dealer market. Manufacturers cautious amid high polished inventory. Synthetics growing, but prices continue to slide. China weak as pandemic lockdowns continue. Chow Tai Fook FY1H sales +5% to $5.9B, profit -8% to $434M. US Sep. polished imports +18% to $1.7B, exports +24% to $1.4B. The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season.   Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.08% -0.70% -7.58% 0.50 ct -0.48% -2.24% -8.79% 1.00 ct -0.35% -2.82% -3.41% 3.00 ct -0.67% -1.83% 7.54%

Market Reports   United States: 1 to 3 ct., G-I, SI2-I2 center stones selling well due to seasonally strong bridal segment…   Belgium: European buyers restrained due to dollar's strength against the euro…   Israel: Selling difficult even as US jewelers make last-minute orders…   India: Factories operating well below capacity as manufacturers seek to reduce excessive polished inventory…   Hong Kong: Retailers preparing inventory for Lunar New Year (January 22) but cautious about buying in downward-trending market…

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Webinar: Dealing with Uncertainty By Avi Krawitz The diamond industry is navigating a drop in demand and a rise in supply that is weighing on polished prices at the start of the holiday season. Listen Here

Tips for Building Your Estate-Jewelry Business By Beth Bernstein Don't know where or how to buy and at what price? Experts give their insights. Read More

New Book Traces Tiffany's Rise to Greatness By Phyllis Schiller Vision and Virtuosity explores how the New York jeweler developed into the high-end household name it is today. Read More

Top Stories of the Week $35M Pink Diamond Pulled from Christie's Sale 13.15-carat piece was set to lead New York Magnificent Jewels auction. See More US E-Commerce Holiday Sales on Par with Last Year Consumers have spent $64.59 billion online since November 1, according to Adobe Analytics. See More Thanksgiving Weekend Set to Attract Record 166M Shoppers Consumers will take advantage of promotions, National Retail Federation predicts. See More Yellows Lead Rise in Fancy-Color Price Index Pinks and blues also enjoyed third-quarter gains. See More De Beers Launches First North American Pop-Up Connecticut store is a partnership with Watches of Switzerland-owned Betteridge. See More China Expansion Bolsters Chow Tai Fook Revenue Jeweler opened 933 new stores on mainland during first fiscal half. See More Renewed China Restrictions Hit Hong Kong's Tse Sui Luen Company revenue down 11% for six months that ended September 30. See More Diamond Foundry Buys German CVD Tech Specialist Californian brand acquires leading producer of single-crystal wafers. See More Gübelin Launches Online Marketplace for Traceable Gems Provenance Proof spin-off allows buyers and sellers to trade responsibly sourced stones. See More Gemfields Sells 187,775ct. Emerald Cluster for Record Price Miner nonetheless notes weakening of market for its Zambian gems. See More US Demand Keeps Swiss Watch Exports Afloat Shipments up 7% year on year last month. See More India Trade Slides Amid Uncertainty Polished exports declined 26% in October. See More

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