Rapaport TradeWire May 4, 2023

May 4, 2023

Rapaport Market Comment - May 4, 2023 Diamond market slow after difficult start to 2023. 1 ct. RAPI -2.4% in April, -5% so far this year. Economic uncertainty weighing on sentiment as jewelers reduce inventory purchases. Conference Board's US Consumer Confidence Index hits 9-month low in April. NRF predicts record Mother's Day jewelry sales. Chinese shoppers and traders cautious. Luxury doing well, spurring optimism for next week's GemGenève show and Geneva auctions. Midstream holding large polished stockpiles despite reduced manufacturing. Rough trading sluggish during sight week. De Beers adds flexibility to supply amid weak demand. Hong Kong 4Q polished imports +6% to $3.7B, polished exports -8% to $3B. Read More

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.17% 0.44% -0.51% 0.50 ct -0.91% -2.42% -19.07% 1.00 ct -0.78% -2.33% -22.97% 3.00 ct -0.05% -1.51% -15.02%

Market Reports   United States: Weak bridal retail sales leading to sluggish wholesale…   Belgium: Stable demand for 0.30 to 1 ct., H-I, SI2 goods…   Israel: Polished market weak, with decrease in US purchases…   India: Domestic sector stable, with Akshaya Tritiya festival (April 22) stimulating momentum for gold jewelry sales…   Hong Kong: Retail gradually improving, driven by tourist revival…

View Full Report

Diamond Trends Webinar with Avi Krawitz: Why the Diamond Market Has Slowed Wholesale diamond 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 industry as we approach the midpoint of the year. Register Here

The Dirt on Greenwashing By Vivien Johnston Glass Hiding unethical practices behind a veneer of sustainability is a serious issue in the luxury sector.   Read More

Polished Diamond Prices Declined in April 1ct. RAPI down 2.4% amid weakness in US and China. See More Bulgari Blue Diamond Bears $25M Price Tag at Sotheby's 11.16-carat, fancy-vivid stone has belonged to the same European collector since 1970. See More Mother's Day Jewelry Spending to Hit Record High Consumers will spend a total of $7.8 billion on gifts from the category, says National Retail Federation. See More Network Expansion Boosts Pandora's 1Q Revenue Danish retailer opened 87 concept stores and 112 shop-in-shop locations during the period. See More Hong Kong Luxury Sales Soar Amid Tourism Revival Revenue from jewelry and other valuable items reached three-year high in March. See More Zales to Debut Lab-Grown Diamond Jewelry Rental Signet chain will offer service at 28 stores before expanding it over the summer and fall. See More Gem Diamonds Revenue Shrinks Amid Dearth of Large Stones Miner sold seven diamonds for more than $1 million each in first quarter, compared to nine a year earlier. See More Antwerp Diamantkring Backs Natural Diamond Council Exchange is the first bourse to provide financial support to the organization. See More 7ct. Burmese Ruby to Lead Bonhams Hong Kong Auction Ring is expected to fetch up to HKD 8.8 million ($1.1 million). See More WJI 2030 Adds Seven Members to Its Board New recruits come from a cross-section of the jewelry, diamond and fashion industries, as well as from civil society organizations. See More Rio Tinto Puts Rare Argyle Ring Up for Sale Piece carries price tag in excess of $1 million. See More EBay Launches 'Brand-Certified' Luxury Platform Initiative allows companies to partner directly with the online marketplace. See More Anoop Mehta Receives Lifetime Achievement Award BDB president made his mark as chairman and managing director of Mohit Diamonds. See More

CONTACT US

© Copyright 2023 by Rapaport USA Inc. All Rights Reserved. Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.

Rapaport USA 133 East Warm Springs Road Suite 100 Las Vegas Nevada 89119 USA You received this email because you are subscribed to Rapaport TradeWire® from Rapaport USA. Update your email preferences to choose the types of emails you receive. Unsubscribe from all future emails