Rapaport TradeWire January 11, 2024

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RAPAPORT ® TRADEWIRE ®
January 11, 2024
 
Rapaport Market Comment - January 11, 2024

Round prices stabilizing but discounts still deep. Fancy-shape prices mixed. Rough market for smaller sizes heating up as India import freeze has caused shortages. Sightholders expect lower prices at next week's sight, since De Beers rough is expensive. Celebrities show off natural diamonds at Golden Globes. Solid trading at India's IIJS Signature show amid positive outlook for rest of wedding season. Titan 3Q jewelry sales +23% as consumers bought gold despite high prices; diamond jewelry less strong. GIA launches same-day verification to combat rise in fraud. Debswana board approves $1B investment in Jwaneng underground expansion. Bruce Cleaver steps down as De Beers cochair.

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RAPNET DIAMOND INDEX (RAPI™)
  Weekly Monthly Y2Y
0.30 ct 0.24% 1.43% -4.89%
0.50 ct 0.79% 3.50% -24.85%
1.00 ct 0.41% 0.92% -19.97%
3.00 ct 0.08% 0.17% -11.10%
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Market Reports
United States: Retailers and dealers assessing 1Q inventory needs and preparing for Valentine's Day…    United States: Retailers and dealers assessing 1Q inventory needs and preparing for Valentine's Day…
Belgium: Recent festive period was mediocre, with US and European markets showing mixed results…    Belgium: Recent festive period was mediocre, with US and European markets showing mixed results…
Israel: Rounds doing okay, with melee firm…    Israel: Rounds doing okay, with melee firm…
India: Trading stable but export demand weak, with shortages of better-quality goods supporting market…    India: Trading stable but export demand weak, with shortages of better-quality goods supporting market…
Hong Kong: Slow economy dampening interest in 2 ct. and larger stones…    Hong Kong: Slow economy dampening interest in 2 ct. and larger stones…
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Podcast: Jewelry, Insurance and the Holidays

Appraisals need fixing, says Dustin Lemick of BriteCo.

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Indian Wedding Demand Boosts Mood at IIJS Signature Show
By David Brough

Surging gold price has impacted sales in recent months.

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Institute will offer same-day report verification to confirm a diamond matches its inscription.
GIA Takes Steps to Counter Fraudulent Inscriptions on Lab-Grown
Institute will offer same-day report verification to confirm a diamond matches its inscription.
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Current stage will help facilitate kimberlite sampling and develop infrastructure for underground project.
Debswana Gets Approval for $1B Jwaneng Expansion Phase
Current stage will help facilitate kimberlite sampling and develop infrastructure for underground project.
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Statement necklaces and big earrings were the dominant theme, with pieces by Cartier, Bulgari and De Beers standing out.
Diamond Jewels Sparkled on the 2024 Golden Globes Red Carpet
Statement necklaces and big earrings were the dominant theme, with pieces by Cartier, Bulgari and De Beers standing out.
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Electronics, toys and apparel were top-selling categories, Adobe Analytics reports.
Steep Discounts Buoy Online Holiday Sales
Electronics, toys and apparel were top-selling categories, Adobe Analytics reports.
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Former CEO will stay on in advisory capacity after helping miner with transition phase.
Bruce Cleaver Steps Down from De Beers Boards
Former CEO will stay on in advisory capacity after helping miner with transition phase.
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New York location will house five verification machines, which members can use for free.
DMIA Opens Diamond-Screening Lab
New York location will house five verification machines, which members can use for free.
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Location is combined entity's first in India.
Sarine, GCAL Launch Surat Grading Lab Following Merger
Location is combined entity's first in India.
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Revenue from synthetic diamonds up 83% year on year in fourth quarter.
Strong Lab-Grown and Holiday Sales Push Pandora Past Guidance
Revenue from synthetic diamonds up 83% year on year in fourth quarter.
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Son of conglomerate's owner was previously CEO of TAG Heuer.
Frédéric Arnault to Head LVMH Watch Division
Son of conglomerate's owner was previously CEO of TAG Heuer.
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Revenue up 22% year on year in third quarter amid store openings in US, Singapore and Dubai.
International Expansion Drives Sales at India's Titan
Revenue up 22% year on year in third quarter amid store openings in US, Singapore and Dubai.
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Owner of Atelier Munsteiner in Stipshausen, Germany, was the fourth generation of his family in the industry.
Renowned Gem Cutter Tom Munsteiner Dies
Owner of Atelier Munsteiner in Stipshausen, Germany, was the fourth generation of his family in the industry.
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Diamond found at Lesotho mine is first over 100 carats this year.
Letšeng Yields 295ct. Rough for Gem Diamonds
Diamond found at Lesotho mine is first over 100 carats this year.
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The combined company will have six salerooms and 18 regional offices in the US, with plans to expand internationally.
Hindman to Merge with Freeman's Auction House
The combined company will have six salerooms and 18 regional offices in the US, with plans to expand internationally.
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Type IIa diamond was found at mine's high-value M/PK(S) unit in the south lobe.
Lucara Digs Up 166ct. Rough from Karowe
Type IIa diamond was found at mine's high-value M/PK(S) unit in the south lobe.
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