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Rapaport TradeWire May 16, 2019
May 16, 2019 11:12 AM
By Rapaport
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| May 16, 2019 | | RAPAPORT MARKET COMMENT |  | | Rising expectations for Las Vegas shows. Good demand for 0.70 to 1.99 ct., G-J, VS-SI, RapSpec A3+. Other categories weak. Large-stone dealers cautious amid high-end slowdown. Christie’s Geneva garners $62M (87% by lot) as cushion, 118.05 ct., fancy yellow, VS2 diamond sells for $7.1M ($60,000/ct.). Sotheby’s Geneva fetches $42M (77% by lot) with 36.57 ct., D, FL going for $5M ($137,036/ct.). Rough prices stable at De Beers sight but tight Indian liquidity impacting demand. Alrosa April sales -21% to $319M. Letšeng 1Q average price -42% to $1,900/ct. Petra sells 425 ct., D, type II rough to Stargems and Choron for $15M. Industry mourns the passing of Leo Schachter and Sam Abram. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.02% | -0.94% | -12.87% | | 0.50 ct | -0.35% | -1.49% | -5.19% | | 1.00 ct | 0.00% | -0.53% | -3.02% | | 3.00 ct | 0.29% | -1.08% | -8.97% |  | | 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: More companies dealing in recycled goods as they offer better profit than newly manufactured diamonds... |  |  | Belgium: US jewelers increasingly carrying lab-grown collections, frustrating suppliers of natural diamonds... | | |  | Israel: Trading stable as dealers prepare for Las Vegas shows... | | |  | India: US and Israeli buyers in Mumbai looking for bargains before JCK... | | |  | Hong Kong: Wholesale trading slow amid fears new US tariffs will impact Chinese diamond and jewelry exports... | | |  | | | Synthetics: Coming to a Bourse Near You? |  | | WITH Joshua Freedman | Exchanges in Mumbai, Dubai and now Israel are grappling with the question of lab-grown diamonds. |  | | | WEBINAR AT JCK LAS VEGAS: DIAMOND MARKET TRENDS |  | | WITH Avi Krawitz | Rapaport Senior Analyst Avi Krawitz will discuss the state of the diamond and jewelry industry at the upcoming JCK show in Las Vegas. This 45-minute presentation on May 30 is designed to give you the tools to navigate the challenges facing the trade. You can attend in person, watch a livestream or receive a recording in your inbox. |  | | | WEEKLY NEWS | | industry | | | | US Tariff Hike Could Impact Jewelry Trade | | Diamonds, gemstones and precious metals may incur up to 25% import tax. |  | | | 118ct. Yellow Smashes Estimate at Christie’s | | Siba Corp. purchases diamond in honor of founder Sam Abram, who died last week. | | | | | Storied Necklace Makes Bold Return at Sotheby’s | | Hélène Beaumont’s emerald and diamond piece fetches $3.6 million in Geneva. | | | | | Dubai Exchange Holds First Lab-Grown Tender | | DMCC offered 50,000 carats of rough CVD. | | | | | Petra Sells 425ct. Diamond for $15M | | Stargems Group and Choron buy D-color stone in partnership. | | | | | Hong Kong Polished Imports Slip in 1Q | | Shipments decreased 3% for the period. | | | | | retail | | | | Cartier, Van Cleef Sue Alleged Counterfeiter | | King Jewelers infringed on several design trademarks, companies claim. | | | | | Watches of Switzerland to Go Public | | Mayors owner plans London IPO to repay debt and support growth. | | | | | 11ct. Purple Expected to Fetch Over $10M | | M&B Limited originally purchased the record-breaking stone from Alrosa. | | | | | mining | | | | De Beers to Build $468M Diamond-Mining Ship | | Vessel could add 500,000 carats to annual production at its Debmarine Namibia venture. | | | | | Weak Indian Demand Dents Alrosa Sales | | Tightened credit in the polishing sector contributed to drop. | | | | | New Tender Schedule Boosts Lucara Results | | Miner now sells higher-value stones more frequently. | | | | | Stornoway Loss Deepens Amid Slow Market | | Decline in rough prices increased pressure in first quarter. | | | | | Large-Stone Recoveries Fall at Gem Diamonds | | Sales slump 51% in three months to March 31. | | | | | general | | | | Trade Mourns Death of Leo Schachter | | Famed diamantaire founded namesake company in 1952. | | | | | ‘King of the Blues’ Sam Abram Dies | | Colored-diamond pioneer was a prominent buyer at auctions. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Retail stocks fell this past week following US President Donald Trump’s threats of higher tariffs on Chinese imports. Shares in Macy’s (-4.8%), Signet (-10%), Tiffany (-5%), Chow Sang Sang (-4.6%), Chow Tai Fook (-3.9%) and Pandora (-13%) all dropped. Mining shares also slid, with Lucara Diamond (-5%), Petra Diamonds (-5%), Firestone Diamonds (-4.1%) and Alrosa (-2.9%) declining. Mountain Province (+6%) received a boost after increasing its production guidance, while Rio Tinto (+4%) also saw a rise. | | | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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