Rapaport TradeWire June 15, 2023

June 15, 2023

Rapaport Market Comment - June 15, 2023 Diamond markets under pressure. US luxury jewelers doing well, but middle markets over-inventoried and seeing slow sales. Signet share price down 17% over past week after advisory reflecting market slowdown. US inflation drops to 4% in May and Federal Reserve freezes interest rates, easing economic concerns. Major HK brands recovering, but overall Chinese demand slow. Chow Tai Fook sales +38% in April and May as tourists return. Okavango sells $101M of rough in June at lower prices after withdrawing goods in May. Cushion, 10.57 ct., fancy-vivid-purplish-pink, IF diamond fetches $34.8M ($3.3M/ct.) at Sotheby's NY. Watch Video Here

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.56% -2.57% -3.47% 0.50 ct -0.92% -3.80% -22.41% 1.00 ct -1.00% -2.16% -24.08% 3.00 ct 0.04% -0.65% -15.63%

Market Reports   United States: Growing demand for synthetics in bridal is greatly damaging US natural-diamond sales…   Belgium: Price declines not yet boosting activity; US and China demand slow…   Israel: Dealers only purchasing when there is confirmed demand from a customer…   India: Well-cut fancies moving better than rounds…   Hong Kong: Chinese suppliers have increased their inventory ahead of summer sales season…

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Industry Leaders Debate Social Responsibility at Rapaport Conference Session covered Russian sanctions, ethical standards, and the value of doing good. See More 55ct. Ruby Fetches World-Record $35M Eternal Pink diamond sells for same price at high-value Sotheby's auction. See More Chow Tai Fook Sales Rebound as Tourism Returns Group revenue up 38% for April and May amid reopening of China-Hong Kong border. See More Belgian Court Backs OGI in Dispute with Sarine Ruling revokes key elements of Sarine patent governing laser markings on rough diamonds. See More RJC Names Edward Asscher as Committee Vice Chair Feriel Zerouki was elected honorary treasurer, while Udi Sheintal will be honorary secretary. See More US Jewelry Crimes Reach Record High Number of incidents increased 31% in 2022, according to Jewelers Security Alliance. See More Tiffany Reveals Jewels from 2023 Blue Book Collection Retailer names Rosie Huntington-Whiteley as newest global house ambassador. See More Phillips New York Auction Achieves $4.2M Starfish brooch by René Boivin is top seller, bringing in $571,500. See More

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