Rapaport TradeWire June 1, 2023

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RAPAPORT ® TRADEWIRE ®
June 1, 2023
 
Rapaport Market Comment - June 1, 2023

All eyes on Las Vegas, with hopes the shows will raise sentiment for 2H. Deep concerns about the market amid sluggish demand and continued polished price slide. 1 ct. RAPI -1.2% in May, with sharper declines in lower qualities. Trade below previous years as jewelers tighten inventory purchases during economic uncertainty. US 1Q polished imports -21% to $5B. Responsible sourcing, sustainability and lab-grown the main themes shaping the market. Christie's Hong Kong totals $60M, with pear, 4.83 ct., fancy-vivid-blue, IF, type IIb selling for $8.8M ($1.8M/ct.). Industry mourns passing of legendary diamond cutter Gabi Tolkowsky. Rapaport Group launches market for certified natural pearls. Rapaport to host annual Las Vegas breakfast and Social Responsibility Conference on Sunday, June 4. Register at info.rapaport.com/jck23.

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RAPNET DIAMOND INDEX (RAPI™)
  Weekly Monthly Y2Y
0.30 ct -0.31% -1.57% -2.54%
0.50 ct -0.67% -3.52% -21.57%
1.00 ct -0.22% -1.22% -23.40%
3.00 ct -0.39% -1.06% -15.75%
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Market Reports
<p><strong>United States: </strong>Expectations measured for Las Vegas jewelry week, with positive outlook for high-end Luxury and Couture shows, and strong networking and education prospects at JCK…</p>    United States: Expectations measured for Las Vegas jewelry week, with positive outlook for high-end Luxury and Couture shows, and strong networking and education prospects at JCK…
<p><strong>Belgium: </strong>Trading down amid weak polished demand…</p>    Belgium: Trading down amid weak polished demand…
<p><strong>Israel: </strong>Softened demand for SI to I2 diamonds across most sizes and colors…</p>    Israel: Softened demand for SI to I2 diamonds across most sizes and colors…
<p><strong>India: </strong>Domestic jewelry sector supporting industry, with some manufacturers shifting focus from exports to local sales…</p>    India: Domestic jewelry sector supporting industry, with some manufacturers shifting focus from exports to local sales…
<p><strong>Hong Kong: </strong>E-commerce outperforming physical stores…</p>    Hong Kong: E-commerce outperforming physical stores…
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Refreshing the Retail Game for Today's Consumer
By Avi Krawitz

Major chains and independent jewelers alike are seeing the need for omni-channel, diversity, and other shake-ups to their traditional business models.

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Gem Z: Rebranding Natural Diamonds for a New Generation

A special Rapaport supplement looks at how retailers can sway young consumers toward natural stones as lab-grown gains traction.                

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Advertorial: The Next Step for GIA Diamond Reports

The most trusted diamond report, available in print or the GIA App.

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<p>Israel-born polisher manufactured famous stones for De Beers.</p>
Renowned Diamond Cutter Gabriel 'Gabi' Tolkowsky Dies
Israel-born polisher manufactured famous stones for De Beers.
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<p>Ahead of the Rapaport Breakfast in Las Vegas, the May-June issue focuses on the opportunities and challenges facing independent retailers, while the cover spotlights Diamonds Do Good award-winner Lorraine West.</p>
Rapaport Magazine Takes Deep Dive into US Jewelry Market
Ahead of the Rapaport Breakfast in Las Vegas, the May-June issue focuses on the opportunities and challenges facing independent retailers, while the cover spotlights Diamonds Do Good award-winner Lorraine West.
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<p>Allegations could harm negotiations with Botswana, media report claims.</p>
De Beers Denies It Violated Sanctions on Russian Diamonds
Allegations could harm negotiations with Botswana, media report claims.
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<p>Marketing body also forms collaboration with brokerage business Bonas Group.</p>
Natural Diamond Council Partners with Eight Cutting Firms
Marketing body also forms collaboration with brokerage business Bonas Group.
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<p>Investment in HB Antwerp will not affect long-standing partnership with miner, government says.</p>
Botswana Confident of Reaching Deal with De Beers
Investment in HB Antwerp will not affect long-standing partnership with miner, government says.
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<p>4.83-carat, blue diamond ring is top seller, bringing in $8.8 million.</p>
Christie's Nabs $60M at Hong Kong Auction
4.83-carat, blue diamond ring is top seller, bringing in $8.8 million.
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<p>Pink Diamond Investments has purchased just under 50% of the site.</p>
Petra Sells Stake in Williamson Mine for $15M
Pink Diamond Investments has purchased just under 50% of the site.
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<p>Shipments to US see first decline in more than two years.</p>
Swiss Watch Exports Climb Amid China Rebound
Shipments to US see first decline in more than two years.
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<p>Move comes after 17 years at Stuller.</p>
Stanley Zale Joins Hill & Co. as Principal Consultant
Move comes after 17 years at Stuller.
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<p>Necklace estimated to sell for up to $500,000.</p>
36ct. Yellow Diamond to Lead Christie's London Sale
Necklace estimated to sell for up to $500,000.
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<p>Rita Maltez has been with the Chow Tai Fook jewelry brand since 2021.</p>
Hearts on Fire Names New Global President
Rita Maltez has been with the Chow Tai Fook jewelry brand since 2021.
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<p>Sales increased 1% in 12 months that ended March 31.</p>
Asian Star's Full-Year Revenue Rises
Sales increased 1% in 12 months that ended March 31.
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<p>Polished shipments dropped again in March.</p>
US Diamond Imports See First-Quarter Slowdown
Polished shipments dropped again in March.
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<p>Rough shipments rebounded in April, according to data from GJEPC.</p>
India's Polished Exports Continue to Decline
Rough shipments rebounded in April, according to data from GJEPC.
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<p>Collection from American jeweler Sidney Mobell will appear at Bonhams in June.</p>
Gold Slot Machine, Monopoly Board to Go Under the Hammer
Collection from American jeweler Sidney Mobell will appear at Bonhams in June.
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<p>Kalpesh Jhaveri takes over as president.</p>
Diamond Club West Coast Names New Board
Kalpesh Jhaveri takes over as president.
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