Rapaport TradeWire May 18, 2023

May 18, 2023

Rapaport Market Comment - May 18, 2023 Polished trading quiet. Jeweler inventory replacement down amid economic caution. Dealers hope Las Vegas shows will raise sentiment. GemGenève demonstrates strong demand for branded luxury. Richemont FY2023 jewelry sales +21% to $14.6B. Brilliant Earth 1Q revenue -2% to $98M. Sotheby's Geneva raises $85M; pear, 11.16 ct., fancy-vivid-blue, VS1 sells for $25M ($2.3M/ct.). Rough market slow as cutters keep production low. De Beers May sale -21% to $480M. Feriel Zerouki becomes president of World Diamond Council. Industry mourns passing of former London Diamond Bourse president Harry Levy. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON MAY 26 DUE TO THE JEWISH HOLIDAY OF SHAVUOT. Read More

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.33% 0.36% -1.01% 0.50 ct -1.10% -3.17% -20.29% 1.00 ct -0.58% -2.40% -23.20% 3.00 ct 0.16% -1.13% -15.36%

Market Reports   United States: Dealers preparing for Las Vegas shows with hopes buyers will purchase now that price levels have dropped; appointments being made but uncertainty about potential buying…   Belgium: Diamonds lagging behind lower price-point products such as gold jewelry…   Israel: Very few sales as US, China and Hong Kong jewelers reduce inventory following drop in consumer demand…   India: Surat factories reducing production and taking extended summer vacations due to market conditions…   Hong Kong: Gradual return of outbound tourism since border reopening, but traffic well below pre-pandemic levels…

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Rapaport Breakfast at JCK Las Vegas How can independent retailers sell natural diamonds in a profitable, ethical, reliable and sustainable manner? Martin Rapaport will address this question at the Rapaport Breakfast, taking place at the JCK Las Vegas show on Sunday, June 4, at 8 a.m. Pacific Daylight Time. Attendance is in person or via an online broadcast. Register Now

Brands Still Have a Long Way to Go in Their Sustainability Quest By Milena Lazazzera Purpose and profit: The costs of not embracing ethical practices are rising. Read More

A Year in the Life of Watch Auctions By Carol Besler The hammer went down on more than $760 million in sales in 2022, says The Mercury Project. What's next? Read More

Blackstone Set to Buy IGI for up to $550M: Report US private-equity firm could sign deal with sellers this weekend, according to Indian media. See More De Beers Sales Slip in Uncertain Market May cycle brought in 21% less than a year earlier. See More De Beers Merges Two Auctions Amid Slow Market May and July sales will take place together. See More Alrosa Lines Up Pavel Marinychev as Potential CEO Supervisory board to consider former Almazy Anabara chief as Sergey Ivanov's replacement. See More Bulgari Blue Diamond Rakes In over $25 Million Stone was most valuable jewel at recent Geneva auction season, says Sotheby's. See More Heidi Horten Jewelry Collection Sets Record in Geneva Christie's garners $202.2 million from three-part auction. See More 28-Piece JAR Jewelry Collection Sells Out at Christie's Assortment brings in $6.7 million at Geneva Magnificent Jewels sale. See More Christie's to Offer 127ct. Diamond Without Reserve D-color, internally flawless stone carries estimate of up to $15 million at New York Magnificent Jewels. See More US Retail Sales Gain as Inflation Eases April revenue up 0.4% from March and 1.6% year on year. See More Feriel Zerouki Becomes President of World Diamond Council Ronnie Vanderlinden takes on vice presidency. See More Brilliant Earth Incurs Loss Amid Shift to Cheaper Jewelry Consumers bought more pieces but at lower prices in first quarter. See More China's Reopening Lifts Richemont's Jewelry Sales Revenue from segment gained 21% in latest fiscal year. See More Rough Slowdown Hits Lucara First-quarter sales and profit dropped amid price decline and weakening of product mix. See More Sarine Revenue Drops Amid Economic Caution Group net profit was $800,000, down from around $3.4 million reported a year earlier. See More Former London Diamond Bourse President Harry Levy Dies Exchange's honorary life chairman made broad contribution to industry. See More Benoît Repellin Takes On Global Role at Phillips Executive previously ran the auction house's jewelry division in Europe. See More Stanley Zale Exits Stuller After 17 Years Grandson of Zales Jewelers founder will become an industry consultant. See More

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