Rapaport TradeWire January 19, 2023

January 19, 2023

Rapaport Market Comment - January 19, 2023 Diamond market uncertain. Small polished outperforming larger stones. De Beers cuts prices by estimated average of 10% for rough above 2 ct., raises prices by estimated 10% for below 0.75 ct. Cutters still wary of increasing production. China slow as dealers take Lunar New Year vacation. Chow Tai Fook FY3Q sales -19%; Luk Fook same-store sales -10%. US retail sales -1.1% in Dec., fueling cautious economic outlook. High end robust. Richemont jewelry maisons FY3Q sales +11% to $4B. Kim Kardashian buys Princess Diana's amethyst Attallah Cross for $197,453 at Sotheby's. Martin Rapaport issues New Year message. Wishing all our friends a happy, healthy and successful Year of the Rabbit. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 1.12% 2.51% -6.40% 0.50 ct 0.08% -0.27% -11.51% 1.00 ct -0.14% -1.27% -12.08% 3.00 ct -0.12% -1.22% -4.76%

Market Reports   United States: Buyers seeking opportunities as prices continue dropping and credit terms become more generous…   Belgium: Small vendors struggling to meet luxury houses' sourcing requirements…   Israel: Dealers hoping US post-holiday restocking orders will soon begin and that China will improve…   India: Polished production below capacity amid ongoing concerns about market direction…   Hong Kong: Not much travel to and from mainland despite border reopening…

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Is Lab-Grown Still a Dirty Word in the Industry? By Leah Meirovich Some jewelers are keeping their synthetics sales low-key to avoid pushback from the trade. Read More

Rapaport New Year Message By Martin Rapaport Amid unprecedented opportunities and challenges, the best way forward is to focus your activities on what is certain and sustainable.   Read More

Topaz: A Versatile Gemstone with Pizzazz From Jewelry Connoisseur This relatively plentiful stone is available in a swath of beautiful hues that jewelry customers can't help but love. Read More

De Beers Slashes Prices of Larger Rough Diamonds Smaller goods see increases, reflecting market split. See More Lab Report: Sarine CEO Explains the GCAL Deal David Block on integrating the two parties' grading operations and brands. See More Holiday Sales Miss Target as Inflation Dents Spending Revenue rose 5% year on year, below National Retail Federation's forecast. See More Kim Kardashian Buys Princess Diana Cross Pendant at Auction Diamond-and-amethyst jewel fetches almost $200,000 at Sotheby's. See More GIA Rolls Out Lower-Cost Lab-Grown Dossier Grading report carries $55 price tag for 1-carat stone. See More Jewelry Sales Drive Strong Growth at Richemont US and European demand outweighed slow Chinese market in third fiscal quarter. See More Covid-19 Resurgence Hits Hong Kong Jewelers Sales at Chow Tai Fook and Luk Fook down in latest fiscal quarter. See More "> Petra Suspends Production at Koffiefontein Mine Efforts to sell the "loss-making" diamond deposit didn't bear fruit. See More Rio Tinto Output Jumps Following Diavik Takeover Production grew 21% last year as company took full ownership of Canada mine. See More David Yurman Names Chief Marketing Officer Carolyn Dawkins will also oversee brand's e-commerce business. See More IGI's Parent Company Looking for Buyers China-based Fosun International mulls sale of Belgium-based laboratory. See More De Beers' Element Six Promotes Sales Head to CEO Siobhán Duffy will take the helm at the industrial-diamond business on February 1. See More

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