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Rapnet 600X160 Gemblog
Rapaport TradeWire
October 29, 2020
RAPAPORT MARKET COMMENT
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Sentiment mixed as Nov.-Dec. holiday season begins amid continued rise in Covid-19 cases. Dealer trading slow as manufacturers focus on direct supply to jewelers. E-commerce supporting retail market. Adobe predicts online holiday sales +33% to $189B. LVMH takeover of Tiffany back on at lower price of $131.50 per share ($15.8B). Blue Nile debuts synthetics with De Beers’ Lightbox brand. Sotheby’s NY brings in $18M (83% by lot), with pear-shape, 12.38 ct., fancy pink, VVS2 diamond going for $4.2M ($373,337/ct.). Petra Diamonds FY1Q revenue +33% to $82M. Letšeng 3Q sales +67% to $61M, average price +56% to $2,215/ct. De Beers, Alrosa extend supply contracts to March 31.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.47% -1.88% 11.35%
0.50 ct -0.43% -0.02% 18.32%
1.00 ct -0.08% 1.05% 3.03%
3.00 ct 1.09% 1.85% -1.99%
RAPI Yearly Graph
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Market Reports
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United States: Memo market very active as jewelers try to avoid owning too much inventory...
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Belgium: Cautious mood amid new restrictions following alarming rise in Covid-19 infections...
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Israel: More traffic in bourse after lockdown lifted, but dealer trading slow...
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India: Polished production levels continue to climb, enabling greater flow of goods to the market...
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Hong Kong: Rising expectations for 11/11 Singles’ Day, with accelerated shift to online sales...
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Trade Wire 600X160 April 2018
Preparing for the Holiday Season
WITH Avi Krawitz

The quarterly Rapaport Diamond Trends Webinar identifies key developments shaping the market, and lays out important ideas to help the industry navigate the holidays and 2021. 

Trade Must Continue Transformation
WITH Yoram Dvash

In an interview with Rapaport News, new World Federation of Diamond Bourses (WFDB) president Yoram Dvash outlines the umbrella body’s approach to managing the coronavirus crisis, and calls for a unified effort to meet the industry’s challenges.

Podcast: The everlasting charm of antique engagement rings
WITH Jewelry Connoisseur by Rapaport

Julie Walton of Walton’s Antique & Estate Jewelry discusses the most appealing vintage styles for brides-to-be.

UPS AND DOWNS
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Jewelers Betting Big on Dussehra This Festival Season
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Rebag Launches Designer Watches and Fine Jewelry
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Graff Diamonds Counts the Cost of the Pandemic
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Container Lines Expect US Import Binge to Lose Steam
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WEEKLY NEWS
retail
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Blue Nile to Sell Lightbox Lab-Grown Diamonds
E-tailer will offer exclusive fashion-jewelry line on web and in showrooms.
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LVMH Seals Tiffany Takeover at Lower Price
Companies settle litigation after reaching deal of $131.50 per share.
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Adobe Predicts Huge Jump in Online Holiday Sales
Figure to rise 33% year on year to $189 billion, company says.
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Deloitte: Jewelry Ranks Low on Consumer Wish List
Shoppers to spend less this holiday amid concerns about state of economy.
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Asia Rebound Drives Kering Jewelry Sales
Growth at Boucheron bolsters division’s performance in third quarter.
industry
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De Beers Delays New Sightholder Contract
Miner extends current supply agreement until March 31, 2021.
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New Banking Law Set to Support Antwerp Trade
Belgian parliament approves rules entitling companies to open accounts.
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WD Opens Up Lab-Grown Patents to Distributors
Company allows Altr and Evolution Diamond to sell its CVD goods.
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Manufacturing Rebound Boosts Sarine Revenue
Polishing returns to pre-coronavirus rates in October.
mining
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Dominion Seeks Rescue Deal to Avoid Liquidation
Miner asks court to extend creditor protection until December 15.
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Petra Sales Rise as Rough Prices Recover
Revenue jumps 33% in quarter ending September 30.
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Letšeng Prices Exceed Pre-Pandemic Levels
Gem Diamonds third-quarter sales up 67% as large-stone market recovers.
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Rio Tinto Wants to Sell Dominion’s Diamonds
Mining giant seeks to recoup more than $91 million to cover Diavik expenses.
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Firestone to Test Diamond Prices in November
Miner will sell portion of inventory to assess how well the market has recovered.
general
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Sotheby’s Garners $18M at New York Jewelry Sale
Pear-shaped, 12.38-carat, fancy-pink diamond ring sells for $4.6 million.
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Christie’s to Offer 107ct. Yellow Diamond
Stone is part of a brooch by Graff that’s estimated to fetch up to $3.6 million.
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Yoram Dvash to Step Down as Israel Bourse Head
President won’t run for reelection in December.
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Industry Group Awards Jewelry-Design Scholarship
California-based Olivia Shih receives $5,000 grant.
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FINANCE
Diamond Industry Stock Report
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Stocks fell sharply this week amid concerns over the latest increase in coronavirus infections and its potential impact on the global economy. Retail took a heavy hit, with Kering (-10%), Richemont (-7%), Macy’s (-6%), Tiffany (-6%), LVMH (-6%), Swatch Group (-5%) and Chow Tai Fook (-4%) all dropping. Mining shares also fared poorly. Anglo American (-8%), Rio Tinto (-6%), Lucara (-6%) and Gem Diamonds (-5%) lost ground. Petra (+18%) bucked the trend following positive sales results.

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