Rapaport TradeWire May 11, 2023

May 11, 2023

Rapaport Market Comment - May 11, 2023 Sentiment weak amid trading slump. Prices declining as dealers try to reduce inventory. Economic caution lingers; US inflation 4.9% in April. Majors and top-tier independents that can adapt to shifting consumer habits are gaining market share and demonstrating strength of US market. GemGenève show opens with hopes that robust high end will raise general activity. Part 1 of Heidi Horten collection auction raises $156M at Christie's Geneva; cushion-cut, 25.59 ct. Sunrise Ruby ring misses presale estimate at $14.6M. WFDB pledges financial support for Natural Diamond Council. Industry mourns passing of Zvi Yehuda, inventor of Sherlock Holmes synthetic-diamond detection machines. Read More

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.01% 0.51% -0.56% 0.50 ct -0.57% -2.65% -19.56% 1.00 ct -0.34% -2.50% -22.98% 3.00 ct -0.57% -1.49% -15.45%

Market Reports   United States: Some memo calls, but buyers being careful not to increase inventory levels…   Belgium: Rough dealers' and manufacturers' profit margins under pressure…   Israel: Slowdown in I1- to I2-clarity goods following recent price declines…   India: Most Surat factories closed for summer holidays until mid-May…   Hong Kong: Retailers focusing on Mother's Day promotions and seeing steady interest in lower-budget items…

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Podcast: The Buzz About Geneva, Tiffany and Bridal Several developments are creating positive energy around jewelry, despite the slow diamond market. The Rapaport editorial team discusses some of the high-profile events that may have raised the bar for the rest of the industry. Listen Here

Diamond Trends Webinar with Avi Krawitz: Why the Diamond Market Has Slowed Wholesale trading has remained sluggish in the second quarter. But what has influenced the difficult start to 2023? In our upcoming webinar, Rapaport Senior Analyst Avi Krawitz will examine this question and outline the state of the sector as we approach the midpoint of the year. Register Here

Six of the Hottest Diamond Cuts for Retailers Getting in shape: What consumers are buying and why. Read More

26ct. Ruby Misses Estimate at Controversial Christie's Sale Ring from Austrian billionaire Heidi Horten garners $14.6 million. See More WFDB Protests Christie's Auction over Nazi Links Collector's husband made his fortune during Third Reich. See More Zvi Yehuda, Inventor of Sherlock Holmes Machine, Dies at 86 Israeli industry veteran also created first laser-cutting instrument for diamonds. See More Princess Diana Necklace Could Fetch $15M Swan Lake suite features diamonds and cultured South Sea pearls. See More GIA Examines 35ct. Lab-Grown Diamond Emerald-cut, G-color, VS2-clarity stone is largest the organization has seen. See More "> AGTA Calls for Ban on Term 'Recycled' Association submits recommendations to Federal Trade Commission for "Green Guides." See More Everledger Australia Enters Business Rescue Process Provider of diamond-tracing service lays off branch's employees after funding shortfall. See More Sarine Buys New York Lab GCAL for $5.65M Technology company completes 70% takeover. See More WFDB Partners with Natural Diamond Council Federation will provide financial and organizational support. See More The Prospect of Diamond Origin Determination: In Brief Is it possible to analyze a diamond and figure out where it was mined? See More Where Are All the Russian Diamonds? Alrosa goods are still flowing into certain countries, but the details are hazy. See More Diamonds, Colored Gems Steal Show at Heritage Auction 5.02-carat emerald cut fetches $175,000 in Dallas, Texas. See More Mountain Province Profit Rises in Strong Quarter for Sales Company held more tenders than a year earlier. See More

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