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Diamond Prices Soften Despite US Stability

1 ct. RAPI -0.5% in April

May 7, 2019 5:00 AM   By Rapaport
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RAPAPORT PRESS RELEASE, May 7, 2019, Las Vegas … Polished-diamond prices declined in April due to continued oversupply and selective Far East demand. US jewelry sales remain firm, helping to support the global trade.

The RapNet Diamond Index (RAPI™) for 1-carat diamonds slid 0.5% in April. The index has fallen 1% so far this year, and 3% since May 1, 2018.

RapNet Diamond Index (RAPI™)
April Year to date
Jan. 1 to May 1
Year on year
May 1, 2018, to May 1 2019
RAPI 0.30 ct. -1.9% -5.9% -12.8%
RAPI 0.50 ct. -1.1% -1.2% -4.0%
RAPI 1 ct. 0.5% -1.0% -3.0%
RAPI 3 ct. -1.6% -6.1% -9.3%
© Copyright 2019, Rapaport USA Inc.

Large inventories of lower-quality old goods are available, and suppliers are willing to discount them to raise cash. Liquidity is tight, as Indian credit lines declined after the March 31 fiscal year-end. Manufacturers reduced rough purchases in the first quarter, hoping to ease liquidity concerns by depleting polished stock.

Combined rough sales by De Beers and Alrosa dropped 19% by volume and an estimated 30% by value in the first quarter. Mining companies are planning to reduce supply, with global production down approximately 6% during the period.

Polished supply continues to rise. The volume of diamonds listed on RapNet as of May 1 was up 7% since the beginning of the year, coming to 1.6 million stones valued at $8.23 billion. RapNet listings have grown 22% over the past 12 months, with a significant increase in 0.30- to 0.50-carat, G-J, VS-SI diamonds.

US demand for 1.00 to 1.50-carat diamonds is steady ahead of the summer wedding season. The country's polished imports fell slightly in the first two months of the year, with more goods at lower prices. US jewelry sales are stable, even with the number of specialty jewelers declining, as outlined in the April edition of the Rapaport Research Report.

Companies that embrace omni-channel and social-media platforms are driving growth. The US market is led by top-tier independents that are adapting to rapid changes in consumer habits, and catering to key segments among female self-purchasers and millennials.

To learn about the Rapaport Research Report and to subscribe, click here.

Rapaport Media Contacts:
US: Sherri Hendricks +1-702-893-9400
International: Alex Shine +1-718-878-5138
Mumbai: Prashant Bhojani +91-97694-66855

About the Rapaport Research Report: The Rapaport Research Report provides subscribers with in-depth analysis of key issues affecting the diamond market. It presents exclusive analytics of diamond prices for a variety of categories, based on sales and inventory data from RapNet® – The Diamond Market.

About the Rapaport RapNet Diamond Index (RAPI™): The RAPI is the average asking price in hundred $/ct. of the 10% 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® – The Diamond Market. has daily listings of more than 1.5 million diamonds valued at over $8 billion. Additional information is available at

About the Rapaport Group: The Rapaport Group is an international network of companies providing added-value services that support the development of ethical, transparent, competitive and efficient diamond and jewelry markets. Established in 1976, the Group has more than 20,000 clients in over 121 countries. Group activities include Rapaport Information Services, providing the Rapaport benchmark Price List for diamonds, as well as research, analysis and news; RapNet, the world’s largest diamond trading network, with over 15,000 members in 97 countries and daily listings of more than 1.5 million diamonds valued at over $8 billion; Rapaport Laboratory Services, providing GIA and Rapaport gemological services in India, Israel and Belgium; and Rapaport Trading and Auction Services, the world’s largest recycler of diamonds, selling over 500,000 carats of diamonds a year. Additional information is available at
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Tags: Alrosa, De Beers, diamonds, Rapaport, RAPI, RapNet
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