Rapaport TradeWire December 9, 2022

December 9, 2022

Rapaport Market Comment - December 8, 2022 US jewelers optimistic as holiday sales gain momentum. Signet raises FY forecast after 3Q revenue +3% to $1.6B, profit -60% to $38M. Dealer trading cautious. Manufacturers under pressure to raise liquidity and reduce inventory. Small stones doing better than 1 ct.+. China slow, but some speculating that select categories have bottomed. De Beers extends sightholder contracts for a year due to market uncertainty, keeps prices stable at Dec. sight. Christie's NY sells $59M (93% by lot), including pear, 32.62 ct., fancy-blue, potentially IF diamond for $11.8M ($373K/ct.). Sotheby's NY sells $50M (81% by lot), with pear, 303.10 ct., fancy-brownish-yellow, IF going for $12.4M ($41K/ct.). Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.32% -0.40% -7.48% 0.50 ct 0.29% -1.47% -9.45% 1.00 ct -0.51% -3.18% -5.55% 3.00 ct -0.48% -2.20% 2.19%

Market Reports   United States: Mall traffic strong, but consumers using online platforms and social media for research and buying…   Belgium: Narrowing of demand has left suppliers with large inventories of hard-to-move goods…   Israel: Buyers lack urgency and are prepared to wait for right deal…   India: US orders solid during peak holiday season…   Hong Kong: Chinese government reducing quarantine measures, boosting optimism for retail ahead of Lunar New Year…

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Why Are Large Stones Losing Their Luster at Auction? By Leah Meirovich After a slew of headline-grabbing prices, top colored diamonds have started tapering off. Experts say market fatigue may be denting the wow factor. Read More

How Jewelers Coped with Hurricane Ian By Jennifer Heebner When the storm touched down in Florida in late September, it upended thousands of lives and businesses. Rapaport Magazine checks in with local store owners to see how they're faring in the wake of the disaster. Read More

Advertorial: Bringing over 130 Years of Diamond Expertise to Modern Grading By De Beers Institute of Diamonds Confidence is the "fifth C" of the diamond sector and its role has rapidly gained increased importance at every touchpoint of a diamond's journey. Read More

Top Stories of the Week Diamond Trade Cautious Despite Positive Retail Prices declined in November amid China slowdown and US economic uncertainty. See More 303ct. Golden Canary Sets Sales Soaring at Sotheby's Yellow diamond falls short of estimate with final price of $12.4 million. See More Blue Diamond Nabs Nearly $12M at Christie's Pendant featuring 31.62-carat stone was top seller at New York Magnificent Jewels. See More Signet Sales Rise, Company Ups Forecast Acquisition of Diamonds Direct and Blue Nile boosted third-quarter total. See More De Beers Extends Sight Contract by a Year Current supply terms to remain in place through December 2024. See More Alrosa CEO Sergey Ivanov Reportedly Leaving Executive to resign before termination of contract, says Russian news outlet. See More GIA to Rework Its Graduate Jeweler Course Institute collaborates with designer and master goldsmith Alan Revere. See More US Wholesale: Suppliers Predict Slowdown Inflation and a glut of synthetic goods mark the end of 2022. See More Surat Exchange to Launch in Spring 2023 Construction work is complete, says organization behind the project. See More End of Covid-19 Closures Boosts Birks Rise in retailer's comparable-store sales reflects rebound from last year's shutdowns. See More Diamonds Smash Estimates at Bonhams New York 13.70-carat, D-color stone was top-selling item at Monday's auction. See More Israel's Diamond Slump Continues November drop in polished exports reflected sharp increase in returns of shipped goods. See More 6ct. Ruby and Diamond Ring to Lead Phillips NY Jewel among highest-value items in auction house's history. See More

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