Rapaport TradeWire December 16, 2022

December 16, 2022

Rapaport Market Comment - December 15, 2022 Mixed sentiment ahead of final shopping weekend before Christmas. Retailers anticipate strong Super Saturday (Dec. 17) traffic as consumers make last-minute purchases. Mastercard reports US jewelry sales -3.9% in Nov., but category well above pre-pandemic levels. China slow but optimism rises for release of pent-up demand after zero-Covid policy lifted in time for peak season. Dealers are being conservative as jewelers are selective and waiting for New Year to buy inventory. Rough market quiet. Petra Diamonds Dec. tender sales -67% to $42M, prices +2.2% vs. Nov. De Beers plans 2023 production of 30M to 33M cts. vs. 34M cts. this year; expected to raise supply to Botswana factories. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.33% 0.37% -7.61% 0.50 ct 0.07% -0.61% -9.80% 1.00 ct -0.10% -1.90% -6.15% 3.00 ct -0.14% -1.52% 1.50%

Market Reports   United States: Retail below 2021 levels, but jewelers satisfied with business and wary of building up inventory in uncertain economic environment…   Belgium: Luxury brands driving orders and insisting on source verification following Russia's invasion of Ukraine…   Israel: Dealers holding back from buying due to concerns that prices will keep dropping…   India: Some cutting firms struggling due to shortage of suitable material for producing melee…   Hong Kong: Optimism rising for Chinese sales ahead of January 22 Lunar New Year…

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The Year That Hindered Growth By Avi Krawitz The past 12 months will be remembered for the impact that geopolitical and economic developments had on all industries, as well as the continued effects of Covid-19 in parts of the world. Read More

Podcast: China's Post-Pandemic Potential The diamond trade should anticipate a release of pent-up demand from Chinese consumers as Beijing eases its "zero Covid" policy, says Mountain Province CEO Mark Wall. Listen Here

The Group Pushing to Unite the Trade on Sustainability By Rachael Taylor Climate action is key for the Watch & Jewellery Initiative 2030, says executive director Iris Van der Veken. Read More

Top Stories of the Week Pink Diamond Pulled from Christie's Was Allegedly Stolen Property 13.15-carat stone was part of a $90 million jewelry scam, court documents show. See More Blue Diamonds Strike Out at Sotheby's Auction First three stones from eight-piece De Beers collection have failed to sell. See More De Beers to Offer More Rough to African Factories Sightholders expect greater allocation of smaller diamonds to Botswana units. See More Jewelry Sales See Second Consecutive Month of Decline Category down 3.9% year on year in November, according to Mastercard SpendingPulse. See More DTC Botswana Eyes New Sources of Rough Strategic overhaul would enable De Beers-government joint venture to process diamonds other than Debswana's. See More How to Sell to the Self-Purchasing Woman The in-store experience is crucial — as are marketing styles and having the right merchandise. See More Super Saturday to Draw Record 158M Shoppers National Retail Federation predicts strong final weekend before Christmas. See More Petra Prices Improve at December Sale Weakness of larger rough abates amid positive holiday sentiment. See More Christie's Online Jewelry Sale Scores Nearly $7M 50.06-carat diamond is lead item, bringing in $2.6 million. See More Top Lots Smash Estimates at Phillips Jewelry Sale Pink-diamond necklace by Boodles fetches $1.9 million. See More Sarine Claims Win in Infringement Case Equipment maker hails Indian court ruling against five Surat firms that allegedly used company's software illegally. See More Strong Luxury Market Drives Watches of Switzerland Sales up 31% year on year in six months ending October 30. See More Element Six CEO to Step Down Walter Huehn will leave the De Beers synthetic-diamond business early next year. See More Manufacturing Trade Group MJSA Reelects Chairman Joseph Esposito will enter his third term. See More Pandora Shifts North America Head Office to New York Times Square location will help jeweler expand US business, management says. See More

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