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Rapaport TradeWire December 10, 2020
Dec 10, 2020 10:25 AM
By Rapaport
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| December 10, 2020 | | RAPAPORT MARKET COMMENT |  | | 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. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | 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% |  | | 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: 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... | | |  | | | Human Rights, Diamonds and Covid-19 |  | | WITH The Rapaport Diamond Podcast | The diamond and jewelry industry has made important strides in its responsible sourcing practices, but cannot become complacent, especially during the pandemic, explains Juliane Kippenberg of Human Rights Watch. |  | | | Botswana Ready to Leverage Its Diamond Supply |  | | WITH Avi Krawitz | The pandemic has had a significant impact on Botswana’s economy, highlighting its continued reliance on the diamond industry and De Beers, as the December Rapaport Research Report examines. Has Covid-19 brought the two partners closer as they prepare to thrash out a new partnership agreement? |  | | | Coveted: Art and Innovation in High Jewelry |  | | WITH Jewelry Connoisseur by Rapaport | Interviewing over 70 designers, author Melanie Grant explores the artistic, emotional and historical value of high jewelry. | | | | | WEEKLY NEWS | | industry | | | | Gang Burglaries Drive Rise in Crime Losses | | Small number of high-value thefts responsible for sharp 2019 increase, Jewelers’ Security Alliance reports. |  | | | Hong Kong March 2021 Shows Postponed | | Diamond and jewelry fairs now scheduled for July. | | | | | Harry Winston Wins Top Item at Christie’s NY | | Kashmir sapphire and diamond bracelet sells for $6M at Magnificent Jewels auction. | | | | | India, Angola Eye Closer Trade Ties | | African country seeks export destinations for its growing rough production. | | | | | retail | | | | De Beers Collaboration Rethinks Engagement Rings | | Blue Nile will sell limited-edition pieces from 10 jewelry designers. | | | | | Pandora Warns of December Sales Slowdown | | Demand strengthens in November following early start to holiday promotions. | | | | | Michael Hill Forecasts Half-Year Profit | | Same-store sales rise 8% in 22 weeks to November 29. | | | | | mining | | | | Dominion Finds Buyer for Ekati | | Miner will still retain its 40% stake in Diavik. | | | | | Alrosa Sales Continue to Grow | | November sees highest diamond revenue since January. | | | | | Lucapa Recovers 127ct. Diamond in New Mining Area | | Stone is third over 100 carats company has found at Lulo deposit this year. | | | | | general | | | | Diamond Foundry Opens Dubai Sales Office | | Silicon Valley-based company is latest synthetics producer to become DMCC member. | | | | | American Gem Society Postpones April Conclave | | US organization now plans to hold the event in the fall of 2021. | | | | | Kashmir Sapphire Beats Estimate at Bonhams | | Brooch sells for $1.1 million at New York Jewels auction. | | | | | India’s Gem, Jewelry Exports Show Recovery | | Decline narrows to 4% in November as emergency measures pay off, GJEPC reports. | | | | | Industry Group Hands Out Spectrum Awards | | AGTA adds new honors for North American Mined Gemstones and Best of Single Entries. | | | | | | FINANCE | | 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. | | | | | 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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