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Rapaport TradeWire May 18, 2017
May 18, 2017 7:03 PM
By Rapaport
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| May 18, 2017 | | RAPAPORT MARKET COMMENT |  | | Positive sentiment despite lackluster May trading. Rising expectations for JCK Las Vegas with some concern the show’s weekday schedule will limit retailers’ attendance. Suppliers trying to protect polished profit margins after rough prices rose 1% to 2% at last week’s $520M De Beers sight. Graff buys 373.72 ct., D, type IIa rough for $17.5M ($46,935/ct.). Sotheby’s Geneva sells $151.5M (90% by lot) as pear-shape, 14.54 ct., fancy vivid blue, IF diamond fetches $42.1M ($2.9M/ct.) and matching pear, 16 ct., fancy intense pink, VVS2 diamond sells for $15.3M ($959,636/ct.). Christie’s Geneva garners $95M with heart-shape, 92.15 ct., D, FL diamond selling for $15M ($162,611/ct.). | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.08% | 0.26% | 1.79% | | 0.50 ct | -0.29% | -1.44% | -11.91% | | 1.00 ct | 0.10% | 0.09% | -7.43% | | 3.00 ct | 0.94% | 0.89% | 0.59% |  | | The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network. | | | | Market Reports | | |  | United States: New York trading stable. Sentiment improved as demand picked up in March and April after a slow start to the year... |  |  | Belgium: Polished trading slow. Buyers concentrating on narrow selection of goods they know they can sell... | | |  | Israel: Polished market stable. Dealers optimistic about Las Vegas shows. Suppliers shifting to niche products like color diamonds and fancy shapes in search of better margins... | | |  | India: Suppliers preparing for Las Vegas shows. Some companies sending fewer personnel as they expect lower retail visitor traffic... | | |  | Hong Kong: Polished trading slow, but dealers expect stronger activity in June, with improvement in Chinese demand and retail jewelry sales... | | |  | | | Quote of the Week | | “Every diamond has an inner script that we must read and respect.” - Laurence Graff, after Graff Diamonds bought a 374-carat rough from Lucara. |  | | | WEEKLY NEWS | | industry | | | | World’s Priciest Earrings Fetch $57M | | Relief as pink and blue diamonds stay together. |  | | | Christie’s Sells 92ct. Heart Pendant for $15M | | Sale rounds off a busy, record-breaking week on the Geneva auction circuit. | | | | | Cutters’ Profits Slim at $520M De Beers Sight | | Rough-price increases and limited supply put pressure on the midstream. | | | | | Graff Diamonds Buys Lesedi La Rona Shard | | Exceptional-quality rough dates back ‘billions of years.’ | | | | | retail | | | | Jewelry Sales Shine for Richemont | | Figures partly compensate for weak watch segment. | | | | | Titan Withstands Indian Demonetization | | Jeweler musters growth amid changing environment. | | | | | Fabergé Shows ‘Encouraging’ Growth | | Luxury jeweler sees 63% jump in units sold during third fiscal quarter. | | | | | Jewelry Bolsters J.C. Penney Sales | | Sector stands out in retailer’s otherwise disappointing performance. | | | | | mining | | | | Canadian Pension Group Mulls Bid for Dominion | | At least four other companies are courting the miner. | | | | | Sierra Leone’s 709ct. Rough Fails to Sell | | Government rejects top bid, hopes to take auction to Antwerp or Tel Aviv. | | | | | Birks Shows Canada Pride with Renard Line | | Jeweler to sell 200 polished diamonds sourced from the new Quebec mine. | | | | | Lulo Prices Slip in Angola’s Wet Season | | Lucapa shifts mining to lower-grade area. | | | | | general | | | | Manufacturing Upturn Boosts Sarine Sales | | Equipment maker’s profit impacted by higher expenses and product launches. | | | | | Israel Bourse Launches Online-Sales Room | | Move is part of larger strategy to strengthen web presence among local dealers. | | | | | Piaget, De Beers Execs Take on RJC Roles | | Didier Théraulaz elected vice chairman, Feriel Zerouki voted in as treasurer. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US stocks fell this week amid political turmoil in Washington, with brick-and-mortar retailers heavily hit. Macy’s (-22%), J.C. Penney (-18%) and Nordstrom (-18%) all lost value after reporting disappointing results. Far East and European retail stocks were also lower, with Swatch Group (-8%) heading the declines. Mining stocks generally had a mixed week, with Dominion (+3.6%) gaining from the latest reports of a potential takeover. | | | | | Contact Us |  |       | | © Copyright 2017 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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