Rapaport TradeWire October 5, 2023

October 5, 2023

Rapaport Market Comment - October 5, 2023 India domestic diamond market very strong, but international sales very weak. De Beers frees sightholders from contracts for rest of year but does not cancel sights. De Beers September sight $200M, -61% YOY; YTD sales $3.4B, -31% YOY. Rapaport predicts total 2023 De Beers sales of $3.8B, -34% from 2022. De Beers-Botswana deal moves forward with "heads of terms" document. Rapaport warns trade not to approve WDC G7 protocol, as this will eliminate small- to medium-sized companies and reduce free-market competition. Okavango cancels November spot auction due to weak market. HB reinstates Oded Mansori in apparent attempt to save Botswana deal. Industry mourns former JCK editor Hedda Schupak. Country comments will return next week following the Jewish holidays. Read More

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct -0.45% -2.91% -5.77% 0.50 ct -2.18% -5.77% -31.43% 1.00 ct -1.84% -5.40% -26.25% 3.00 ct -0.72% -3.07% -15.41%

Bumpy Ride Ahead Amid Synthetic-Diamond Shake-Up By Avi Krawitz Martin Rapaport warns the industry to brace for fundamental changes. Read More

The Weekly Gems: News and Videos from Around the Web This week's list of top stories features unusual gold discoveries and a novel take on high jewelry. Read More

An Inside Look at Engagement-Ring Trends By Rachael Taylor Talking shop: Jewelers share their most popular designs, client requests and price points for the bridal category. Read More

De Beers Halts Online Rough Auctions as Sales Slide Revenue in latest cycle falls 61% year on year. See More Mansori Back at Belgian Manufacturer HB Partners were able to settle differences, according to company. See More De Beers Moves Forward on Botswana Diamond Deal Miner has signed agreement on specific terms with government. See More Rough Sales for Ekati Mine Rise Despite Market Slowdown Revenue for third quarter up 11% year on year so far, says owner Burgundy Diamond Mines. See More Rising Tourism Spurs Hong Kong Luxury Sales Revenue for category up 57% year on year in August. See More Lucapa Names Nick Selby Managing Director Former operations head took over as interim CEO following Stephen Wetherall's departure. See More Lucara Sees Management Upheaval Following CEO Departure Chief financial officer and vice president of technical services both resign. See More Sarine Launches Melee-Diamond Tracking Program System creates verifiable link between rough's origins and resulting polished stones. See More Veteran Industry Journalist Hedda Schupak Dies at 62 Former JCK editor remained active in jewelry media after retirement. See More Sotheby's Autumn Fine Jewels Auction Achieves $7.5 Million This was highest total for the company's London branch since 2010. See More Bonhams to Auction Jewelry of Journalist Barbara Walters Top item is Harry Winston diamond ring with high estimate of $900,000. 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