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Rapaport TradeWire February 10, 2022
Feb 10, 2022 10:51 AM
By Rapaport
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| February 10, 2022 | | RAPAPORT MARKET COMMENT | | | | WARNING: Rough prices speculatively high. Rough markets overheating as premiums rise on secondary market and at auctions. Dealers optimistic even though trading has slowed. Buyers growing cautious after strong January inventory replacement. Suppliers have good liquidity, maintaining firm prices and pushing discounts even lower in some categories. US retail stable but seasonally slower. China quiet amid ongoing Covid-19 restrictions. Global 2021 jewelry sales +29%, with US +38%, China +19% and India +16%, according to Bain report. Titan Company 3Q sales +32% to $1.4B, profit +91% to $136M. Sotheby’s sells 555.55 ct., fancy-black Enigma diamond for $4.3M ($7,709/ct.). | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 1.77% | 2.50% | 2.05% | | 0.50 ct | 1.02% | 4.22% | 7.20% | | 1.00 ct | 1.24% | 8.03% | 27.63% | | 3.00 ct | 1.13% | 7.57% | 28.32% | | | | 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: Good business at firm prices during AGTA Tucson and Centurion shows; dealers getting fewer calls elsewhere... | | | | | Belgium: Rough dealers seeing strong price momentum, robust demand and not enough supply... | | | | | Israel: Some concerned melee sector is overheating after sharp gains in recent months... | | | | | India: Growing appetite for fancy shapes; hearts are hot ahead of Valentine’s Day... | | | | | Hong Kong: Consumer spending is suffering as Hong Kong government maintains tight containment rules... | | | | | | | Podcast: Good Sales, High Fashion and Poor Taste | | | | WITH THE RAPAPORT DIAMOND PODCAST | The editorial team discusses today’s unusual market conditions, the Tiffany-Pharrell Williams controversy, and the high-end collections at Paris Fashion Week. Plus: Hopes and wishes for Valentine’s Day. | | | | | Weighing the Supply-Demand Equation | | | | WITH AVI KRAWITZ | Rough and polished prices are rising, but experienced traders are growing wary of where that will lead. As demand slows and shortages abound, the industry will have a delicate balance to maintain if it wants to be profitable. | | | | | The Good, the CAD and the Ugly | | | | WITH JENNIFER HEEBNER | Computer-aided design has transformed the jewelry business and offered artists more freedom, but it’s also made it easier for generic styles to mushroom. | | | | | WEEKLY NEWS | | | | | | Rough Shortages Could Last 10 Years, Bain Says | | Mines are closing faster than new ones can come onstream. | | | | | De Beers-Funded Jeweler Receives $3M Investment | | Cash injection will help customization specialist Gemist expand its business. | | | | | Rough Shortfalls Restrict Alrosa Revenue | | January sales lower than a year earlier despite rampant demand. | | | | | March Hong Kong Fairs Move to April | | Postponement follows rise in local coronavirus infections. | | | | | India’s Titan Reveals ‘Grand’ Plans for US Expansion | | Jeweler will open approximately 20 international stores over the next three years. | | | | | Lab-Grown Maker Gets $45M Boost for New Factory | | First external investment will help Benny Landa’s Lusix expand production. | | | | | Antwerp Trade ‘Has Left Pandemic Behind’ | | Jump in diamond shipments underlines sector’s recovery, AWDC says. | | | | | | | | | Pandora Sales Surge on US, Online Growth | | Full-year revenue increased 24% for 2021. | | | | | Holidays Drive ‘Exceedingly’ Good Sales at Titan | | Demand strengthened ahead of Diwali and other Indian gold-buying festivals. | | | | | Watches of Switzerland Sets Sights on New Markets | | Company to open six stores in Sweden, Denmark and Ireland. | | | | | Sales Jump at Indian Manufacturer Asian Star | | Revenue up 42% year on year in third fiscal quarter. | | | | | | | | | The iDiamond? Apple with Bite Reaches GIA | | Manufacturer was probably trying to remove inclusions without losing too much carat weight, lab says. | | | | | Lab-Grown Association Names Committee | | IGDA to focus on setting up training platform for retailers and sales associates. | | | | | Diamonds Score Big at Christie’s Online Sale | | 11.46-carat stone is top seller, bringing in $300,000. | | | | | India Honors Hari Krishna’s Savji Dholakia | | Manufacturing executive picks up prestigious award for his community work. | | | | | I. Hennig Broker Joins Lab-Grown Producer | | Eyal Axelrod to head Lusix’s sales and marketing. | | | | | Gemology Group AGA Appoints Executive Director | | Kate Donovan succeeds Jan Giamanco in role. | | | | | Israel’s Exports See Further Gains | | Polished trading accelerated in January, government reports. | | | | | | Contact Us |  |       | | © Copyright 2022 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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