Rapaport TradeWire November 9, 2023

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RAPAPORT ® TRADEWIRE ®
November 9, 2023
 
Rapaport Market Comment - November 9, 2023

Market stabilizing amid drop in rough supply. De Beers Oct. sales -82% YOY to $80M as miner allows 100% refusals. Decline in production easing pressure on inventory and liquidity as Surat factories prepare to shut for one to two months over Diwali holiday (Nov. 12). Prices of rounds rising for first time in a year; fancies weaker. US memo orders improving as holidays approach. Slow trading at GemGenève. Christie's Geneva achieves $78M (93% by lot), with pear, 17.61 ct., fancy-vivid-blue, IF diamond fetching $44M ($2.5M/ct.). Martin Rapaport fasts for three days to protest World Diamond Council support for Kimberley Process. Rapaport wishes all our Indian friends a happy Diwali.

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RAPNET DIAMOND INDEX (RAPI™)
  Weekly Monthly Y2Y
0.30 ct -0.13% -1.03% -5.31%
0.50 ct 0.39% -0.11% -29.40%
1.00 ct 0.38% -0.42% -24.20%
3.00 ct 0.21% 0.46% -13.45%
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Market Reports
United States: Prices of best round goods firming due to limited supply…    United States: Prices of best round goods firming due to limited supply…
Belgium: Some demand for pink and yellow diamonds, but most categories have seen price drops…    Belgium: Some demand for pink and yellow diamonds, but most categories have seen price drops…
Israel: More Israelis attending bourse than last month, but sales limited…    Israel: More Israelis attending bourse than last month, but sales limited…
India: Goods starting to move as US buyers hurry to make holiday purchases before Indian suppliers shut for Diwali…    India: Goods starting to move as US buyers hurry to make holiday purchases before Indian suppliers shut for Diwali…
Hong Kong: Mainland Chinese demand slow amid sluggish economy; gold selling better than diamonds…    Hong Kong: Mainland Chinese demand slow amid sluggish economy; gold selling better than diamonds…
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Podcast: Chaumet's Golden Age

Jewelry historian and curator Vanessa Cron talks us through a new exhibition celebrating the maison's avant-garde creations from 1965 to 1985.

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The Ins and Outs of Diamond Screening

Technology for detecting synthetics is constantly improving. In this LinkedIn Live, Rapaport News Editor Joshua Freedman will discuss the latest trends with De Beers Group Ignite's Danie Kruger and Samantha Sibley. Post your questions at the link!

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The Weekly Gems: News and Videos from Around the Web

Gamer jewelry and some new scientific uses for diamonds feature in this week's roundup.

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1-carat RAPI slid 2.2% in October but rose in final week.
Diamond Prices See Stabilizing Trend
1-carat RAPI slid 2.2% in October but rose in final week.
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Move coincides with annual plenary in Zimbabwe.
Rapaport Begins Three-Day Fast to Protest World Diamond Council Support of Kimberley Process
Move coincides with annual plenary in Zimbabwe.
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October proceeds down 82% year on year.
De Beers Sales Slump to Lowest Since Covid-19
October proceeds down 82% year on year.
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17.61-carat blue stone is most expensive jewel sold at auction this year.
Bleu Royal Diamond Rakes In $44M at Christie's Geneva
17.61-carat blue stone is most expensive jewel sold at auction this year.
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G7 foreign ministers give support to European sanctions, according to Financial Times.
EU to Propose Ban on Russian Diamonds Next Week – Report
G7 foreign ministers give support to European sanctions, according to Financial Times.
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Spending will increase 3% to 4% this year, National Retail Federation projects.
Holiday Sales Growth to Slow as Consumer Confidence Wanes
Spending will increase 3% to 4% this year, National Retail Federation projects.
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Ring with 103.62-carat yellow diamond leads sale at $2.5 million.
Colored Diamonds Get Some Love at Sotheby's Geneva Auction
Ring with 103.62-carat yellow diamond leads sale at $2.5 million.
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Auction house sells more than 200 pieces in Geneva for nearly double their expected total.
Sotheby's Sale of Royal Austrian Jewelry Smashes Estimates
Auction house sells more than 200 pieces in Geneva for nearly double their expected total.
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Nicky Hilton Rothschild and Eddie Levian are among more than 1,000 who signed open letter against rising racism and violence.
Creatives Urge Fashion Industry to Condemn Anti-Semitism
Nicky Hilton Rothschild and Eddie Levian are among more than 1,000 who signed open letter against rising racism and violence.
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Diamond is second-largest ever recovered from deposit.
Lucapa Unearths 235ct. Rough from Lulo Mine
Diamond is second-largest ever recovered from deposit.
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Ring featuring 20.19-carat stone sells for $13.2 million.
Pink Diamond Scores Big at First Phillips Jewelry Sale in Geneva
Ring featuring 20.19-carat stone sells for $13.2 million.
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Discounts will have limited effect on Indian retailer's margins, says jewelry chief.
Titan Reduces Consumer Prices for Select Diamonds
Discounts will have limited effect on Indian retailer's margins, says jewelry chief.
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Atelier comprises four companies and will increase Kering-owned brand's production capacity.
Boucheron Acquires Paris High-Jewelry Workshop
Atelier comprises four companies and will increase Kering-owned brand's production capacity.
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