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Rapaport TradeWire November 15, 2018
Nov 15, 2018 10:36 AM
By Rapaport
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| November 15, 2018 | | RAPAPORT MARKET COMMENT |  | | Polished trading stable in 1 ct. and larger, with dealers optimistic for Black Friday and holiday season. Record Alibaba Singles’ Day (11/11) sales of $30.8B boost outlook for e-commerce, despite concerns US-China trade war will impact consumer spending. Rough market cautious. De Beers cuts prices of small, low-quality goods by 5% to 15% amid slump in demand for and prices of polished melee. Christie’s Geneva garners $110M (86% by lot), with rectangular, 18.96 ct., fancy-vivid-pink, VS1 diamond selling to Harry Winston for $50.4M ($2.7M/ct.). Sotheby’s Geneva Royal Jewels sale fetches $53M (100% by lot), with Marie Antoinette pearl-and-diamond pendant going for $36.2M. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.08% | -0.85% | 4.39% | | 0.50 ct | 0.12% | -0.44% | 4.26% | | 1.00 ct | 0.31% | -0.18% | 1.46% | | 3.00 ct | -0.41% | -1.35% | -3.63% |  | | 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: Fancy-color diamonds for high-end fashion jewelry selling well... |  |  | Belgium: Dealers selling mainly to the US and China, with lower presence of Israeli and Indian traders... | | |  | Israel: Fancy shapes doing well, with 1.50 ct. pear shapes standing out as the strongest item... | | |  | India: Surat factories to remain closed or operate at low capacity... | | |  | Hong Kong: Positive sentiment after Alibaba’s record online Singles’ Day sales, with jewelers preparing omni-channel offering for holidays... | | |  | | | WEEKLY NEWS | | industry | | | | Christie’s 19ct. Pink Legacy Fetches $50M | | Harry Winston purchases record-setting diamond. |  | | | Marie Antoinette Pendant Sells for $36M | | Jewel smashes high estimate of $2 million at Sotheby’s. | | | | | Mumbai Exchange Mulls Lifting Synthetics Ban | | Detection has improved since 2015 order, says Bharat Diamond Bourse. | | | | | WDC Issues Definition of Conflict Diamonds | | Proposed wording addresses wider range of human-rights abuses. | | | | | 14ct. Diamond Prompts Bidding War at Fellows | | Stone fetches more than double its estimate at UK sale. | | | | | retail | | | | Graff Unveils Polished from 1,109ct. Lesedi La Rona | | Jeweler plans to produce 60 diamonds from the rough stone. | | | | | Richemont Sales Up Despite Asia Concerns | | Cartier owner notes volatile consumer demand. | | | | | Buffett-Owned Ben Bridge Names New CEO | | Lisa Bridge will succeed father Ed. | | | | | Titan Revenue and Profit Increase | | Jewelry business picks up after softer patch earlier in the year. | | | | | mining | | | | De Beers Cuts Prices of Cheaper Rough | | Move is response to slump in Indian manufacturing sector. | | | | | Stornoway Names Patrick Godin as CEO | | Miner reports loss of $28.5 million in third quarter. | | | | | Mountain Province Holds Back Dividend | | Prices drop for lower-value stones. | | | | | Indian Weakness Dents Alrosa Sales | | Revenue down 28% in October. | | | | | general | | | | NGOs Slam Industry’s Human-Rights Efforts | | Reformed System of Warranties casts ethical behavior as “voluntary,” say groups. | | | | | Sotheby’s to Sell Sinatras’ 21ct. Diamond | | Frank proposed to wife-to-be Barbara with this engagement ring in 1976. | | | | | CAR Appeals for Wider Diamond Clearance | | Country wants Kimberley Process to approve additional zones for rough exports. | | | | | 8ct. Bulgari Blue Diamond to Lead Christie’s NY | | December auction also features polished originating from 187.63-carat Diavik Foxfire. | | | | | 24ct. Diamond to Head Up Bonhams Auction | | Internally flawless stone estimated at up to $2.3 million. | | | | | Sarine Weathers 3Q Market Slump | | Sales rise despite weak Indian demand for its cutting equipment. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail stocks had a tough week as disappointing earnings at J.C. Penney (-19%) sent its shares tumbling. Macy’s (-11%) fell despite raising its sales outlook, while Signet (-7%) also slipped. Cautious remarks about the consumer market from Richemont (-10%) set luxury stocks on a downward spiral, with Tiffany (-10%) and Swatch Group (-6%) both suffering. Continued weak demand for lower-value rough hit Mountain Province (-21%) and Stornoway Diamond (-20%), while Lucara Diamond (-9%) dropped after its profit slumped. India’s Titan (+8%) rose following promising results. | | | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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