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Rapaport TradeWire December 10, 2020

Dec 10, 2020 10:25 AM   By Rapaport
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Rapaport TradeWire
December 10, 2020

Jewelers upbeat about holiday season amid strong e-commerce and lucrative early gift shopping. Last-minute US orders and preparations for Chinese New Year driving polished trading. China jewelry market robust. Luxury demand good at NY auctions: Christie’s sells $45M (91% by lot) including Kashmir sapphire and diamond bracelet to Harry Winston for $6M. Sotheby’s raises $47M, with heart-shape, 1.71 ct., fancy red, SI2 diamond going for $3.2M ($1.9M/ct.). Rough market very active during sight week. Manufacturers anticipate firm post-holiday inventory replacement. Dominion sells Ekati mine to bondholders. Next year’s March Hong Kong shows and AGS Conclave postponed due to pandemic.

2010 Ar Tc Rap 600X160 03
Weekly Monthly Y2Y
0.30 ct 0.07% -0.99% 2.20%
0.50 ct -0.31% -1.71% 12.67%
1.00 ct -0.02% 0.64% 3.54%
3.00 ct 0.25% 2.47% 2.15%
RAPI Yearly Graph
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Market Reports
United States: Sentiment positive as dealers fill orders in time for peak pre-Christmas period...
Belgium: Wholesale businesses able to operate during lockdown, which is scheduled to end next week...
Israel: Some planning for 2021 and expecting improved momentum during first quarter...
India: Rough purchasing robust as manufacturers raise production levels to alleviate scarcities...
Hong Kong: Local retail sluggish due to another spike in Covid-19 infections and lack of tourism during peak selling season...
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Gang Burglaries Drive Rise in Crime Losses
Small number of high-value thefts responsible for sharp 2019 increase, Jewelers’ Security Alliance reports.
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Hong Kong March 2021 Shows Postponed
Diamond and jewelry fairs now scheduled for July.
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Harry Winston Wins Top Item at Christie’s NY
Kashmir sapphire and diamond bracelet sells for $6M at Magnificent Jewels auction.
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India, Angola Eye Closer Trade Ties
African country seeks export destinations for its growing rough production.
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De Beers Collaboration Rethinks Engagement Rings
Blue Nile will sell limited-edition pieces from 10 jewelry designers.
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Pandora Warns of December Sales Slowdown
Demand strengthens in November following early start to holiday promotions.
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Michael Hill Forecasts Half-Year Profit
Same-store sales rise 8% in 22 weeks to November 29.
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Dominion Finds Buyer for Ekati
Miner will still retain its 40% stake in Diavik.
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Alrosa Sales Continue to Grow
November sees highest diamond revenue since January.
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Lucapa Recovers 127ct. Diamond in New Mining Area
Stone is third over 100 carats company has found at Lulo deposit this year.
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Diamond Foundry Opens Dubai Sales Office
Silicon Valley-based company is latest synthetics producer to become DMCC member.
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American Gem Society Postpones April Conclave
US organization now plans to hold the event in the fall of 2021.
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Kashmir Sapphire Beats Estimate at Bonhams
Brooch sells for $1.1 million at New York Jewels auction.
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India’s Gem, Jewelry Exports Show Recovery
Decline narrows to 4% in November as emergency measures pay off, GJEPC reports.
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Industry Group Hands Out Spectrum Awards
AGTA adds new honors for North American Mined Gemstones and Best of Single Entries.
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Diamond Industry Stock Report

Global retail stocks dropped following rising doubts over whether the US would pass a new stimulus bill, and the failure of the UK and the European Union to reach a Brexit trade deal. Signet (-8%), Chow Sang Sang (-7%), Luk Fook (-6%) and Kering (-5%) all fell. Macy’s (+7%) bucked the trend. Mining shares had a relatively positive week, with Petra (+34%), Lucapa (+6%), Alrosa (+3%) and Mountain Province (+3%) gaining. 

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