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Rapaport TradeWire October 29, 2020
Oct 29, 2020 12:04 PM
By Rapaport
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| October 29, 2020 | | RAPAPORT MARKET COMMENT |  | | 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. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | 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% |  | | 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: Memo market very active as jewelers try to avoid owning too much inventory... |  |  | Belgium: Cautious mood amid new restrictions following alarming rise in Covid-19 infections... | | |  | Israel: More traffic in bourse after lockdown lifted, but dealer trading slow... | | |  | India: Polished production levels continue to climb, enabling greater flow of goods to the market... | | |  | Hong Kong: Rising expectations for 11/11 Singles’ Day, with accelerated shift to online sales... | | |  | | | 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. | | | | | WEEKLY NEWS | | retail | | | | Blue Nile to Sell Lightbox Lab-Grown Diamonds | | E-tailer will offer exclusive fashion-jewelry line on web and in showrooms. |  | | | LVMH Seals Tiffany Takeover at Lower Price | | Companies settle litigation after reaching deal of $131.50 per share. | | | | | Adobe Predicts Huge Jump in Online Holiday Sales | | Figure to rise 33% year on year to $189 billion, company says. | | | | | Deloitte: Jewelry Ranks Low on Consumer Wish List | | Shoppers to spend less this holiday amid concerns about state of economy. | | | | | Asia Rebound Drives Kering Jewelry Sales | | Growth at Boucheron bolsters division’s performance in third quarter. | | | | | industry | | | | De Beers Delays New Sightholder Contract | | Miner extends current supply agreement until March 31, 2021. | | | | | New Banking Law Set to Support Antwerp Trade | | Belgian parliament approves rules entitling companies to open accounts. | | | | | WD Opens Up Lab-Grown Patents to Distributors | | Company allows Altr and Evolution Diamond to sell its CVD goods. | | | | | Manufacturing Rebound Boosts Sarine Revenue | | Polishing returns to pre-coronavirus rates in October. | | | | | mining | | | | Dominion Seeks Rescue Deal to Avoid Liquidation | | Miner asks court to extend creditor protection until December 15. | | | | | Petra Sales Rise as Rough Prices Recover | | Revenue jumps 33% in quarter ending September 30. | | | | | Letšeng Prices Exceed Pre-Pandemic Levels | | Gem Diamonds third-quarter sales up 67% as large-stone market recovers. | | | | | Rio Tinto Wants to Sell Dominion’s Diamonds | | Mining giant seeks to recoup more than $91 million to cover Diavik expenses. | | | | | Firestone to Test Diamond Prices in November | | Miner will sell portion of inventory to assess how well the market has recovered. | | | | | general | | | | Sotheby’s Garners $18M at New York Jewelry Sale | | Pear-shaped, 12.38-carat, fancy-pink diamond ring sells for $4.6 million. | | | | | 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. | | | | | Yoram Dvash to Step Down as Israel Bourse Head | | President won’t run for reelection in December. | | | | | Industry Group Awards Jewelry-Design Scholarship | | California-based Olivia Shih receives $5,000 grant. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | 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. | | | | | 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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