Rapaport TradeWire November 30, 2023

November 30, 2023

Rapaport Market Comment - November 30, 2023 Market improving as holiday shopping begins. Round prices up 2% to 3% since mid-Oct. in some categories and 5% in 0.30 ct. SI1s, but discounts remain high. Strong Black Friday online sales. Steady US demand for 1 to 2 ct. commercial goods boosts India trade as Mumbai offices reopen. India Oct. polished exports -33% YOY to $1.3B, rough imports +9% to $1B as manufacturers bought ahead of shipment pause. Some retailers abandoning synthetics amid falling profits; "authentic" is Merriam-Webster word of the year. Cushion, 15.48 ct., fancy-intense-pink, IF diamond fetches $10.8M ($694K/ct.) at Christie's HK. World Wildlife Fund urges industry to improve sustainability efforts. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.46% 0.60% -3.77% 0.50 ct 0.41% 1.49% -27.65% 1.00 ct 0.25% 0.83% -21.97% 3.00 ct -0.08% 0.16% -12.26%

Market Reports   United States: Melee sellers holding firm on prices…   Belgium: Trade anticipating European Union ban on Russian diamonds…   Israel: Sales better than expected but lower than last year…   India: Stable orders for 1 to 1.50 ct., D-J, VVS-I1 diamonds…   Hong Kong: Engagement rings and festive demand supporting trade…

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Podcast: The Delicate Age of Edwardian Jewelry Suzanne Martinez, co-owner of Lang Antiques, highlights the key features of the era's innovations and influences. Listen Here

Inspired Jewels Shine at Salon Art + Design By Anthony DeMarco Ten exhibitors displayed eye-catching vintage and contemporary pieces at the New York fair. Read More

The Weekly Gems: News and Videos from Around the Web On our reading list were a warning about retail discounts, reports of a new mine in Angola, and pictures of shiny watches in Dubai. Read More

Jewelry Strong as Cyber Monday Sales Surpass Forecast Spending on category was 99% higher than average day in October, Adobe reports. See More Pink Diamond Nabs Supreme $11M Price at Christie's Cushion brilliant-cut, 15.48-carat stone is top seller at Hong Kong Magnificent Jewels auction. See More Holiday Weekend Shopper Count Exceeds Expectations Figure beat NRF's original prediction by more than 18 million. See More Lucara Expects to Form New Supply Deals After HB Fallout Miner forecasts 2024 revenue increase. See More Rio Tinto Backs Out of Canada Diamond Project Miner to focus on exploring for metals and minerals. See More 133ct. Yellow Diamond to Lead Sotheby's New York Unmounted stone has high presale estimate of $5 million. See More Hong Kong Luxury Sales See Further Revival Revenue from jewelry, clocks and valuable gifts up 27% year on year in October. See More Luk Fook Sales Rise Amid Hong Kong Rebound Performance in municipality outweighs weak Chinese diamond demand. See More Jewelry and Watch Brands Must Be More Transparent, Says WWF Environmental charity notes improvement — but believes the industry has a way to go. See More Low Diamond Demand, Struggling Chinese Economy Dent TSL Hong Kong jeweler reports loss of $7.5 million for first fiscal half. See More LVMH Shuffles Around Jewelry Chiefs Jean-Marc Mansvelt will go from Chaumet to Berluti, while Charles Leung heads to Chaumet from Fred. See More India's Rough Imports Rise Despite Supply Freeze Polished exports declined in October, latest figures show. See More

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