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Rapaport TradeWire October 8, 2020
Oct 8, 2020 9:29 AM
By Rapaport
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| October 8, 2020 | | RAPAPORT MARKET COMMENT |  | | Diamond market sentiment improving ahead of holiday season. Polished prices stable. Strong bridal category supporting the trade. Some jewelers buying for inventory but main focus is on memo. Selective demand has left dealers struggling to fill orders due to scarcity of stones in specific categories. Manufacturers trying to raise production after robust rough buying at lower prices in Aug.-Sep. Covid-19 restrictions limiting operations and trading activity. Sotheby’s raises $39M (77% by lot) at HK Magnificent Jewels; sold oval, 102 ct., D, FL diamond for $15.7M ($153,285/ct.) in special online auction. Rapaport Auctions sells $7M in Sep. (84% melee and 80% single stone lots sold). | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.03% | 3.73% | 16.09% | | 0.50 ct | 0.43% | 5.80% | 20.17% | | 1.00 ct | 0.37% | 1.96% | 2.31% | | 3.00 ct | -0.64% | 0.21% | -4.92% |  | | 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: Jewelers focusing on commitment jewelry and seeing steady sales of engagement rings and eternity bands... |  |  | Belgium: European retail sluggish due to lack of tourists... | | |  | Israel: Business limited amid nationwide lockdown to curb Covid-19 infections... | | |  | India: Manufacturers raising production to close supply gaps before Diwali (November 14)... | | |  | Hong Kong: Mainland sales growing but still an estimated one-third below last year’s holiday levels... | | |  | | | Can the Trade Thrive on Generic Marketing? |  | | WITH The Rapaport Diamond Podcast | It will take an industry-wide effort to advance consumer desire for diamonds, says David Kellie, CEO of the Natural Diamond Council, in the latest episode of the Rapaport Diamond Podcast. |  | | | Artisanal Diamond Divers in the Spotlight |  | | WITH Rapaport Magazine | Filmmaker Laurent Cartier follows the determined men who search Sierra Leone’s Sewa River for natural diamonds. | | | | | In Search of a Plan |  | | WITH Avi Krawitz | The recent World Diamond Congress highlighted a need for strategic planning and an industry-wide effort to meet the challenges of Covid-19. |  | | | WEEKLY NEWS | | industry | | | | Polished Prices Firm Ahead of Holiday Season | | RAPI for 1ct. up 2.3% in September. |  | | | Collector Nabs 102ct. Diamond for $16M ‘Bargain’ | | Oval-shaped, D-flawless stone is first of its kind sold without reserve price. | | | | | Petra Fends Off Strike with Wage Agreement | | Miner offers one-time bonuses and 5% to 5.5% pay increases. | | | | | Sotheby’s Hong Kong Sale Yields Mixed Results | | Jadeite necklace garners $8.1 million, while several other large lots failed to find buyers. | | | | | retail | | | | Shoppers Seek Luxury Products for Holidays | | More than half of those surveyed plan to treat themselves and others, according to Accenture. | | | | | De Beers Adds 10 Jewelers to Lab-Grown Roster | | Brand will be available in 28 stores via retailers in the US and Canada. | | | | | Blue Nile to Open 50 New Showrooms | | Expansion will include locations in malls and street-side spaces in company’s top markets. | | | | | US Retailers Plan Longer Holiday Season | | Target and Macy’s will begin sales early to avoid health and safety risks. | | | | | Watches of Switzerland Sees Strong 2Q Sales | | Revenue for first 10 weeks rises 20% year on year during the period. | | | | | general | | | | De Beers Launches Design Collaboration for Charity | | ReSet initiative offers a fresh perspective on the positive impact of natural diamonds. | | | | | Christie’s Sets $10M Price Tag on Muzo Necklace | | Piece will lead November Hong Kong Magnificent Jewels auction. | | | | | Diamonds Do Good Awards Industry Grants | | Organization will issue a total of $150,000 to support girls’ education in Tanzania, and other causes. | | | | | Natural Diamond Council Outlines Holiday Trends | | Statement earrings and personalized jewelry rank among top picks. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US stocks rose following presidential support for new stimulus measures, buoying global prices. Retail stocks, including Signet (+8%), Chow Tai Fook (+7%), Macy’s (+5%) and Pandora (+4%), all gained. Mining also got a positive boost, with Lucapa (+12%), Lucara (+4%), Alrosa (+4%) and Gem Diamonds (+3%) climbing. Petra (-11%) was the exception. | | | | | Contact Us |  |       | | © Copyright 2020 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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