Rapaport TradeWire August 31, 2023

August 31, 2023

Rapaport Market Comment - August 31, 2023 Polished prices down amid slow retail demand in US and China. Conference Board reports 7% drop in US consumer confidence for Aug. Prices on Pears Price List now same as rounds in seven categories. Fluorescent diamonds seeing deep discounts. De Beers Aug. sales -42% to $370M at smallest sight since Dec. 2021. Melee moving better than larger goods. Petra prices up 1% to 2% for under-2 ct. rough at Aug. tender; prices of 2 to 10.8 ct. goods fall 14%. Okavango Aug. sales -55% month on month to $49M. Signet 2Q sales -8% to $1.6B, profit -48% to $75M. G7 and industry discussing tighter restrictions on Russian diamonds. Rolex dealers concerned about business as brand buys retailer Bucherer. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -1.63% -4.67% -3.06% 0.50 ct -2.78% -8.44% -28.26% 1.00 ct -1.56% -4.37% -24.44% 3.00 ct -0.70% -1.98% -14.60%

Market Reports   United States: Melee moving better than larger stones amid supply shortages…   Belgium: Low expectations for coming months…   Israel: Traders pinning hopes on Hong Kong show (Sept. 18-24), but expectations muted due to sluggish Chinese demand…   India: Manufacturers selling goods at lower prices to raise liquidity…   Hong Kong: Consumers focusing on lower-priced jewelry and buying gold as an investment…

View Full Report

Podcast: A Story of Stolen Jewels, Prison, and Redemption Reformed jewel thief Bryan Sobolewski talks about his 22-store robbery spree, getting caught, his return to the straight and narrow, and how jewelers can prevent guys like him from making off with their merchandise.   Listen Here

The Weekly Gems: News and Videos from Around the Web Russian sanctions, lab-grown dilemmas and a popular TikTok channel about gemstones feature in our latest selection of content. Read More

Webinar with Martin Rapaport The situation in the market is serious. This webinar on September 13, presented by Martin Rapaport, will analyze the future of diamonds. What should a jeweler, dealer, manufacturer or miner do to prosper in the years ahead, and what will be the long-term impact of synthetics? Register Here

Sotheby's Sets $37M Price Tag for Infinite Blue Diamond 11.28-carat, radiant-cut stone will star in stand-alone Hong Kong auction on October 5. See More De Beers' August Sight Yields Lowest Sales This Year Miner's seventh sight totals $370 million amid slowdown in demand. See More Signet Sales Drop as US Retail Challenges Continue Engagements declined during first half of the year. See More Pandora Unveils New Lab-Grown Lines in 'Diamonds for All' Campaign Ads feature actress Pamela Anderson, model Achok Majak, and Vogue creative director Grace Coddington. See More Midsize Stones Sluggish at Petra Diamond Tender Overall prices down 4.3% on like-for-like basis at first sale of fiscal year. See More Agape Diamonds Receives Warning over Lab-Grown Disclosure National Advertising Division calls on retailer to make stones' origins clearer. See More Rolex Signs Deal to Buy Watch Retailer Bucherer Family-owned chain will keep its name and operate independently. 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