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Rapaport TradeWire November 12, 2020
Nov 12, 2020 10:41 AM
By Rapaport
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| November 12, 2020 | | RAPAPORT MARKET COMMENT |  | | Sentiment improving as US consumers gain confidence following Biden election win. China strong with robust Singles’ Day sales. E-commerce driving growth as jewelers invest in multi-channel platforms and adjust to remote selling strategies. De Beers values 2019 diamond jewelry demand +0.7% at $79B; estimates 1H 2020 US sales -40%, China -45%, India -30%. Christie’s Geneva sells $37M (89% by lot). Sotheby’s brings in $52M, with 14.83 ct., fancy vivid purple-pink Spirit of the Rose diamond going for $26.6M ($1.8M/ct.). Alrosa 3Q profit -44% to $99M. Lucara finds 998ct. rough; HB Antwerp to polish stone. The Rapaport Group wishes all our friends a happy Diwali. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.33% | -3.18% | 8.34% | | 0.50 ct | -0.30% | -1.96% | 16.08% | | 1.00 ct | 0.11% | 0.33% | 2.56% | | 3.00 ct | 1.28% | 3.39% | -0.32% |  | | 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: Bridal moving well; single-stone engagement rings and eternity bands driving the category... |  |  | Belgium: European jewelers concerned about weak consumer confidence due to second coronavirus wave... | | |  | Israel: Widening gap between top-quality and lesser categories as more inventory becomes available... | | |  | India: Manufacturers finalizing orders and settling payments before next week’s Diwali break... | | |  | Hong Kong: Signs of loosening cross-border restrictions, with move to create travel bubble with Singapore... | | |  | | | A Chance to Rebuild the Diamond Industry |  | | WITH Avi Krawitz | The changes that have taken effect during Covid-19 will likely reshape the way the diamond sector operates in the future. The November Rapaport Research Report looks at the strengths, weaknesses, opportunities and threats facing the trade at the end of a turbulent year. |  | | | Plumb Club Moves with the Times |  | | WITH The Rapaport Diamond Podcast | The US-based alliance of jewelry suppliers has been inextricably linked to the JCK Las Vegas show since the club’s founding. The pandemic has forced the organization to help its members do business all year round, and not just at the annual fair, explains president Michael Lerche. |  | | | Stocking Up: Holiday 2020 |  | | WITH Jewelry Connoisseur by Rapaport | Bright colors, charms, and classic looks are the top orders this festive season as the coronavirus keeps retailers cautious, writes Rachael Taylor. | | | | | WEEKLY NEWS | | industry | | | | De Beers: Recovery to Extend ‘Well Beyond 2020’ | | Second wave of lockdowns putting strain on consumer spending, company says in annual Insight Report. |  | | | Alrosa Gives Cautious 2021 Production Outlook | | Miner aims to release accumulated inventories instead of raising output. | | | | | $27M Pink Diamond Sets Record at Sotheby’s | | Price is world’s highest for a stone of its color at auction. | | | | | retail | | | | US Online Spending Picks Up Post-Election | | E-commerce sales reach $21.7 billion in first 10 days of holiday season, says Adobe. | | | | | Jewelry Stands Out at Richemont | | Cartier and Van Cleef & Arpels outperform rest of group in quarter ending September 30. | | | | | How to Hold a Virtual Trunk Show | | With live events off the table during the pandemic, industry experts offer advice on socially distanced ways to share your wares. | | | | | mining | | | | Lucara Finds 998ct. Diamond | | Group sales down 9% in third quarter as miner pauses big-stone tenders. | | | | | Alrosa Sales Continue Upward Trend | | Diamond revenue rises 17% year on year to $310 million in October. | | | | | De Beers to Stop Production at Botswana Mine | | Company cites market conditions as it places Damtshaa on indefinite care and maintenance. | | | | | Petra Launches Probe into Violence Claims | | Security guards carried out deadly assaults against local artisanal miners, nonprofit alleges. | | | | | general | | | | Christie’s Sees Robust Demand at Geneva Auction | | Graff ring with 1.05-carat, fancy-purplish-red diamond sells for record $2.8 million. | | | | | Feng J Diamond Jewels to Lead Phillips Sale | | Two pieces will fetch up to $5.8 million combined, auctioneer predicts. | | | | | Sales Slump at Indian Manufacturer Asian Star | | Quarterly revenue down 38% as pandemic continues to affect operations. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail shares rose following the US election and positive developments toward a Covid-19 vaccine. Richemont (+19%), Macy’s (+18%), Signet (+16%), LVMH (+11%), Kering (+10%) and Pandora (+9%) all gained. Miners also had a good week, with Anglo American (+15%), Alrosa (+6%), Lucara (+6%) and Rio Tinto (+5%) all climbing, though Lucapa (-9%) fell. | | | | | 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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