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Rapaport TradeWire November 28, 2019
Nov 28, 2019 10:44 AM
By Rapaport
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| November 28, 2019 | | RAPAPORT MARKET COMMENT |  | | Positive sentiment as US jewelers complete holiday orders. Optimistic outlook for season as stock market rallies despite Trump impeachment trial and trade war. LVMH $16.2B Tiffany buyout demonstrates confidence in luxury jewelry sector. Macy’s and J.C. Penney highlight strong 3Q jewelry performance. Retailers taking more on memo, presenting good opportunity for New York dealer market. Manufacturers raising production after Diwali break amid shortages of better-quality RapSpec A3+ diamonds. Christie’s Hong Kong sells $50.6M, including important jadeite necklace for $9.4M. The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 3.47% | 5.74% | -12.29% | | 0.50 ct | 0.75% | 1.49% | -7.78% | | 1.00 ct | -0.22% | -0.24% | -6.06% | | 3.00 ct | 0.29% | -0.36% | -17.96% |  | | 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: Emphasis on multichannel as retailers steer customers to stores via online promotions... |  |  | Belgium: Steady movement of 0.30 to 1 ct., G-J, VS-SI diamonds... | | |  | Israel: Good market for 1.50 ct., G-H, VS2-SI2 diamonds for peak US engagement season... | | |  | India: Rough trading stable, with some hope for further price cuts... | | |  | Hong Kong: Major jewelers maintaining low inventory and shifting better goods to mainland stores ahead of upcoming Chinese New Year... | | |  | | | The Curious Case of Fluorescence |  | | WITH Avi Krawitz | Diamonds with fluorescence sell at a significant discount to those without it. Yet the general perception is that consumers don’t mind fluorescence, and sometimes even like the effect. The November Rapaport Research Report examines how the value of fluorescent diamonds has deteriorated in the trade, and explores the opportunities these stones may present in today’s market. |  | | | LVMH Sees Value in Tiffany’s Diamond Sourcing |  | | WITH Joshua Freedman | Tiffany buys most of its diamonds as rough and cuts them in-house — a model LVMH believes it can use to benefit its own business. |  | | | WEEKLY NEWS | | industry | | | | LVMH Seals Tiffany Deal for $16B | | Acquisition will strengthen luxury group’s position in jewelry and increase its US presence. |  | | | Rapaport Sees Opportunity for Dealers Amid Turmoil | | Added value lies in the ability to find the right diamonds for the right person at the right time. | | | | | KP Fails to Expand Conflict-Diamond Definition | | Representatives did not reach consensus at last plenary of three-year review period. | | | | | Thieves Steal Historic Jewels Worth over $1B | | Robbery occurs at Germany’s Green Vault museum in Dresden. | | | | | retail | | | | Jewelry Among Top Performers at Major Retailers | | Macy’s and J.C. Penney have created destination zones for the category. | | | | | China Growth Rescues Chow Tai Fook Sales | | Total revenue steady despite Hong Kong unrest. | | | | | TSL Outlook ‘Gloomy’ Amid Hong Kong Slump | | Jeweler’s sales fall 14% in first fiscal half. | | | | | mining | | | | Lucapa Eyes Increased Share in Lulo | | Miner wants to raise its 39% stake in Angola site to majority holding. | | | | | Letšeng Yields Two Diamonds Above 100ct. | | Discoveries include “high-quality” 120-carat stone. | | | | | Emerald Demand Buoyant at Gemfields Rough Sale | | Miner achieves record average price of $85 per carat in Singapore. | | | | | general | | | | Phillips Garners Nearly $10M at Hong Kong Auction | | 5.22-carat Burmese ruby ring among top sellers. | | | | | Stargems Closes Strong Dubai Rough Tender | | Sale included 500,000 carats from Sacim mine in Democratic Republic of Congo. | | | | | Jadeite Necklace Nets over $9M at Christie’s | | Heavenly Harmony contains 68 beads perfectly matched from two rough stones. | | | | | Sotheby’s London Sale Rakes In $6.8M | | Van Cleef necklace beats estimate with price of $402,375. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Shares in Tiffany (+8%) rose on news of its acquisition by LVMH (+3.1%). Other retail stocks also increased amid optimism over US-China trade talks, and as investors anticipated strong Black Friday sales. Signet (+14%), Chow Sang Sang (+5%), Luk Fook (+6%) and Pandora (+5%) all gained. Mining stocks continued to struggle in a weak rough market, with Lucapa (-8%), Firestone (-8%), Gem Diamonds (-6%) and Mountain Province (-5%) all declining. | | | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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