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Rapaport TradeWire May 27, 2021
May 27, 2021 10:51 AM
By Rapaport
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| May 27, 2021 | | RAPAPORT MARKET COMMENT |  | | Upbeat US and China retail sales driving positive sentiment. Trading limited due to supply scarcity and India Covid-19 travel restrictions. Polished shortages stimulating rough buying at firm prices. Strong cash buyers making for good market liquidity, but India experiencing some pandemic-related payment concerns. Richemont FY jewelry sales +3% to $9.1B. Christie’s HK sells $76.8M (82% by lot), including cushion-cut, 15.81 ct., fancy vivid purplish-pink, IF diamond ring going for $29.3M ($1.9M/ct.). Belgium Apr. polished exports +330% to $566M, rough imports +643% to $933M. Sarine partners with Constell Group on technology solutions for lab-grown sector. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | 0.30% | 1.23% | 6.93% | | 0.50 ct | 0.07% | 1.00% | 14.90% | | 1.00 ct | 0.02% | 0.95% | 18.76% | | 3.00 ct | 1.12% | 2.16% | 12.84% |  | | 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: Old mine and European cuts selling well as consumers seek unique pieces with stories... |  |  | Belgium: Emphasis on online selling as Covid-19 travel constraints lead to absence of foreign buyers... | | |  | Israel: Large cash purchases injecting liquidity into the market... | | |  | India: Production levels steady despite worker absences due to pandemic... | | |  | Hong Kong: Dealers optimistic as local retail performs better than in previous years and Chinese jewelers report upbeat spring sales... | | |  | | | Rapaport Webinar: Five Steps Toward Recovery |  | | WITH Avi Krawitz | As the diamond industry emerges from the Covid-19 crisis, Rapaport Senior Analyst Avi Krawitz identifies five trends shaping the market in 2021. The recent Rapaport Diamond Trends Webinar, which is now available to view, discusses those developments and assesses the current state of the market. |  | | | How to mix modern and vintage jewelry in your store |  | | WITH Jewelry Connoisseur by Rapaport | Having a stylized selection of pieces from both past and present periods makes for fresh looks and successful sales, explains jewelry consultant Beth Bernstein. |  | | | WEEKLY NEWS | | industry | | | | Christie’s Sells Pink Diamond for Record $29M | | Stone fetches $1.9 million per carat at Hong Kong Magnificent Jewels auction. |  | | | 73ct. Yellow to Shine at Sotheby’s New York Sale | | The Sienna Star carries estimate of up to $3 million. | | | | | Indian Jeweler Mehul Choksi Arrested in Caribbean | | Businessman was allegedly involved in India’s largest banking fraud. | | | | | retail | | | | Bain: Luxury to Rebound Earlier Than Expected | | Consultancy firm cites strong recovery in China and renewed consumer confidence in US. | | | | | Jewelry Sales Support Richemont in Tough Year | | Revenue for the category up 3% in fiscal year ending March 31. | | | | | Watches of Switzerland Sales Soar | | E-commerce and lifting of coronavirus restrictions boost revenue in UK and US. | | | | | mining | | | | Lucapa to Buy Australia’s Merlin Mine | | Company sells shares to fund $6.6 million acquisition. | | | | | general | | | | Belgium Polished Exports Rebound | | April shipments more than quadrupled from peak of crisis a year earlier. | | | | | Sarine Partners with Cutting Firm on Lab-Grown | | Collaboration aims to improve efficiency in the sector. | | | | | Stuller Appoints Head of Gemological Lab | | Guy Borenstein brings 15 years of experience to the job. | | | | | Christie’s Unveils Vintage Selection for Paris Sale | | Auction to offer jewelry from 19th and early 20th centuries. | | | | | IGI Debuts Training Courses in Egypt | | Gemological lab claims to be first to offer education services in the country. | | | | | India Exports Hit Two-Year High | | Polished shipments rebound from last year’s slump. | | | | | 12ct. Diamond Crushes Estimate at Skinner Sale | | Marquise-cut “Gibson Girl” stone brings in $472,000 at May 18 sale. | | | | | Shairu Becomes India’s ‘First Carbon-Neutral Cutter’ | | Diamond manufacturer achieves status by offsetting all its emissions. | | | | | Fancy-Blue Diamonds to Lead Phillips Auction | | Earrings carry upper estimate of $770,000. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks rose amid positive consumer sentiment. Richemont (+13%), Chow Sang Sang (+11%), Chow Tai Fook (+9%), Pandora (+6%), Luk Fook (6%), Kering (+4%) and LVMH (+4%) climbed. Miners had a mostly difficult week, with Lucapa (-7%), Mountain Province (-4%), Petra (-3%) and Alrosa (-2%) falling. Lucara (+4%) and Rio Tinto (+2%) bucked the trend. | | | | | Contact Us |  |       | | © Copyright 2021 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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