Rapaport TradeWire March 30, 2023

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RAPAPORT ® TRADEWIRE ®
March 30, 2023
 
Rapaport Market Comment - March 30, 2023

Diamond market quiet amid stalled China recovery and US economic caution. US consumer confidence +0.8% in March despite banking turmoil and interest rate hikes, Conference Board says. Botswana government to buy 24% of HB Antwerp and supply HB with rough through Okavango Diamond Company; deal puts spotlight on delayed De Beers-Botswana negotiations. Chow Sang Sang 2022 revenue -7% to $2.6B, profit -30% to $58M. Lab-grown dominates discussions at Israel meetings. NDC appeals to trade to help fund marketing. Yoram Dvash reelected WFDB president, Ronnie VanderLinden as IDMA president. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 7 AND 14 DUE TO THE JEWISH HOLIDAY OF PASSOVER.

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RAPNET DIAMOND INDEX (RAPI™)
  Weekly Monthly Y2Y
0.30 ct 0.04% 1.36% -3.27%
0.50 ct -0.55% -1.26% -19.30%
1.00 ct 0.06% -1.47% -23.54%
3.00 ct -0.10% -0.58% -16.41%
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Market Reports
<p><strong>United States: </strong>Some anticipate a positive push for goods before Mother's Day…</p>    United States: Some anticipate a positive push for goods before Mother's Day…
<p><strong>Belgium: </strong>Slow trading expected to continue into April as many businesses close for Passover…</p>    Belgium: Slow trading expected to continue into April as many businesses close for Passover…
<p><strong>Israel: </strong>Buzz in the bourse during various events taking place over International Diamond Week…</p>    Israel: Buzz in the bourse during various events taking place over International Diamond Week…
<p><strong>India: </strong>Polished production gradually increasing as Chinese jewelers have resumed buying…</p>    India: Polished production gradually increasing as Chinese jewelers have resumed buying…
<p><strong>Hong Kong: </strong>Consumers seeking lower prices, pushing demand toward budget items such as colored gemstones…</p>    Hong Kong: Consumers seeking lower prices, pushing demand toward budget items such as colored gemstones…
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Showstopping Pieces Spur Hopes of Strong Auction Season
By Leah Meirovich

Despite a poor showing at the fall sales, large colored diamonds and historical jewels look like they will gain steam this spring.

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Rapaport Presentation: Synthetics, Russian Sanctions

Martin Rapaport addresses industry leaders at International Diamond Week.

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Watchmakers Are Turning Up the Sparkle
By Carol Besler

Time to shine: Manufacturers are putting a twist on classic setting techniques to get the most out of their diamonds.

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<p>Okavango Diamond Company will supply rough to Belgian firm's Gaborone factory.</p>
Botswana to Buy 24% Stake in HB Antwerp
Okavango Diamond Company will supply rough to Belgian firm's Gaborone factory.
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<p>Sectors will continue to diverge as technology improves, Bruce Cleaver predicts.</p>
Lab-Grown Not Cannibalizing Natural, Says De Beers Chief
Sectors will continue to diverge as technology improves, Bruce Cleaver predicts.
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<p>Late Austrian billionaire's jewelry assortment set to be most valuable in auction history.</p>
Heidi Horten Collection Expected to Fetch over $150M at Christie's
Late Austrian billionaire's jewelry assortment set to be most valuable in auction history.
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<p>10.57-carat stone carries estimate of $35 million.</p>
Pink Diamond Could Break Price Record at Sotheby's New York
10.57-carat stone carries estimate of $35 million.
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<p>10.05-carat stone came from Lesotho's Kao mine.</p>
$21M Pink Diamond to Lead Sotheby's Hong Kong Auction
10.05-carat stone came from Lesotho's Kao mine.
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<p>Trade fair welcomes record 450 buyers from over 40 countries.</p>
International Diamond Exhibition Opens in Israel
Trade fair welcomes record 450 buyers from over 40 countries.
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<p>This wide-ranging book covers everything from history and gem properties to big brands and buying tips.</p>
Reviewing 'Jewelry Guide: The Ultimate Compendium'
This wide-ranging book covers everything from history and gem properties to big brands and buying tips.
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<p>The designer's namesake brand, which celebrates its 20th anniversary this year, seeks to make comfortable jewels that fully harness gemstones' energy.</p>
Rebel with a Cause: Ara Vartanian's Edgy-Yet-Thoughtful Creations
The designer's namesake brand, which celebrates its 20th anniversary this year, seeks to make comfortable jewels that fully harness gemstones' energy.
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<p>TEFAF art exhibition sees drop in visitor numbers following three years of Covid-19 disruptions.</p>
Positive Sentiment Despite Lower Traffic at Maastricht Fair
TEFAF art exhibition sees drop in visitor numbers following three years of Covid-19 disruptions.
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<p>Annual revenue down 7% year on year in 2022.</p>
Closures, Drop in Currency Weigh on Chow Sang Sang Sales
Annual revenue down 7% year on year in 2022.
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<p>Decline reflects currency fluctuation and unfavorable comparison with previous year's strong figures.</p>
Mountain Province Profit Nosedives in 2022
Decline reflects currency fluctuation and unfavorable comparison with previous year's strong figures.
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<p>Executive will oversee all aspects of supply chain and manufacturing.</p>
Adam O'Grady Becomes Lightbox's First COO
Executive will oversee all aspects of supply chain and manufacturing.
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<p>Massimo Basei's responsibilities will include network expansion, franchise relations and global merchandising.</p>
Pandora Hires Head of Retail Operations
Massimo Basei's responsibilities will include network expansion, franchise relations and global merchandising.
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