Rapaport TradeWire April 13, 2023

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RAPAPORT ® TRADEWIRE ®
April 13, 2023
 
Rapaport Market Comment - April 13, 2023

Diamond market quiet over Passover and Easter holidays. Slow trading also reflects US economic caution as polished prices continue to decline: 1 ct. RAPI -1.6% in March. China recovery fueling industry optimism, but activity still not at pre-pandemic levels. Hong Kong's TSL expects $9M loss for fiscal year that ended March 31, cites Covid-19 disruptions. LVMH 1Q watch and jewelry sales +11% to $2.9B, group +17% to $23.2B, driven by rebound in Asia. Titan Company FY4Q jewelry sales +23%. Rough market sluggish but slightly better than 1Q. De Beers March sales -5% to $540M. GIA joins Tracr blockchain; institute reverts to printed dossiers after trade pushback on switch to digital.

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RAPNET DIAMOND INDEX (RAPI™)
  Weekly Monthly Y2Y
0.30 ct -0.02% 0.57% -1.81%
0.50 ct -0.61% -1.75% -18.51%
1.00 ct -0.37% -2.09% -22.87%
3.00 ct -0.45% -1.20% -15.53%
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Market Reports
<p><strong>United States: </strong>Healthy mix of memo calls and asset purchases…</p>    United States: Healthy mix of memo calls and asset purchases…
<p><strong>Belgium: </strong>Fancy-color diamond segment robust, with 1 to 5 ct. intense and vivid yellows selling well…</p>    Belgium: Fancy-color diamond segment robust, with 1 to 5 ct. intense and vivid yellows selling well…
<p><strong>Israel: </strong>Shift back to US memo market…</p>    Israel: Shift back to US memo market…
<p><strong>India: </strong>Rough prices are high relative to polished, squeezing manufacturing profit margins…</p>    India: Rough prices are high relative to polished, squeezing manufacturing profit margins…
<p><strong>Hong Kong: </strong>Optimism for the second half of the year…</p>    Hong Kong: Optimism for the second half of the year…
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Podcast: De Beers Eyes Massive Botswana Investment

As negotiations with the government continue, there are Debswana projects that require financial input now.

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Webinar: Diamond Reports in a Digital World

In the third and final episode of the "Fast-Tracking the Future" series, sponsored by the International Gemological Institute (IGI), we look at how the grading sector is developing. With reports going digital and incorporating origin information, panelists will explore what consumers want from labs, and whether the latest innovations will help the industry become more transparent and sustainable.

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Have a Heart: The History of a Much-Loved Shape
By Phyllis Schiller

Dealer Brad Wilson reflects on a motif that's been popular in jewelry for centuries.

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<p>Clients who received digital reports can ask for physical documents at no cost.</p>
GIA Reverts to Paper Dossiers Following Trade Uproar
Clients who received digital reports can ask for physical documents at no cost.
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<p>1ct. RAPI down 1.6% in March.</p>
Quiet Diamond Market Reflects Economic Caution
1ct. RAPI down 1.6% in March.
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<p>Chinese demand recovering, says CEO Al Cook.</p>
De Beers Upbeat Despite Sales Slowdown at Sight
Chinese demand recovering, says CEO Al Cook.
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<p>Sales from category up 11% year on year in first quarter.</p>
Jewelry Proves Strong Contributor to LVMH Revenue
Sales from category up 11% year on year in first quarter.
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<p>Mozambique-mined Estrela de Fura may set new auction record.</p>
55ct. Ruby Could Fetch $30 Million at Sotheby's
Mozambique-mined Estrela de Fura may set new auction record.
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<p>Collaboration will let the grading lab offer customers more info on diamonds' origins.</p>
GIA Joins De Beers' Tracr Blockchain Program
Collaboration will let the grading lab offer customers more info on diamonds' origins.
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<p>Floating diamonds from Chopard and luminescent spinels from Roger Dubuis were among the eye-catching designs at the Geneva show.</p>
Six Bejeweled Timepieces That Stood Out at Watches & Wonders 2023
Floating diamonds from Chopard and luminescent spinels from Roger Dubuis were among the eye-catching designs at the Geneva show.
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<p>Growth will be slower amid inflation, rising unemployment and banking turmoil.</p>
NRF Expects Softening of US Retail Sales in 2023
Growth will be slower amid inflation, rising unemployment and banking turmoil.
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<p>Revenue from jewelry, watches and clocks up 129% year on year in February.</p>
Hong Kong Luxury Sales Skyrocket as Visitors Return
Revenue from jewelry, watches and clocks up 129% year on year in February.
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<p>Hong Kong-based jeweler expects to be $9 million in the red for full fiscal year.</p>
Tse Sui Luen Warns of Loss Amid China Slowdown
Hong Kong-based jeweler expects to be $9 million in the red for full fiscal year.
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<p>Indian sightholder VD Global found the Beating Heart in one of its parcels.</p>
De Beers Discovers Free-Moving Diamond Inside Diamond
Indian sightholder VD Global found the Beating Heart in one of its parcels.
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<p>Enquirus allows owners of luxury items to register their pieces.</p>
Richemont Unveils Platform to Reduce Jewelry and Watch Theft
Enquirus allows owners of luxury items to register their pieces.
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<p>Takeover will give Italian high jeweler ">
Gismondi Acquires LVMH Subsidiary Vendorafa
Takeover will give Italian high jeweler "leadership role in goldsmithing."
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