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Rapaport TradeWire November 18, 2021

Nov 18, 2021 5:23 AM   By Rapaport
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November 18, 2021
RAPAPORT MARKET COMMENT
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Strong jewelry sales growth spurring diamond trading. Rising expectations for Thanksgiving weekend despite earlier start to holiday shopping. Savvy jewelers focused on enhancing consumer experience rather than price. US orders driving market for 1 to 2 ct. polished, but 0.30 to 0.50 ct. softening as inventory rises. High rough costs making manufacturers cautious about reducing polished prices. De Beers raises prices on cheaper rough. Alrosa ups 2022 production plan to 33M-34M cts. Richemont 1H jewelry revenue +69% to $4.4B. Brilliant Earth 3Q sales +33% to $95M, profit -51% to $4M. Sotheby’s Geneva sells $44M (86% by lot). Zimbabwe elected Kimberley Process chair for 2023.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
0.86%
0.18%
-3.02%
0.50 ct
0.48%
-0.38%
-1.69%
1.00 ct
0.24%
0.06%
13.48%
3.00 ct
0.35%
1.24%
12.61%
RAPI Yearly Graph
Market Reports
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United States: Local suppliers seeing increased competition from overseas companies tapping the US market...
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Belgium: Positive sentiment as US and European jewelers seek holiday merchandise...
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Israel: Inventory scarce; sellers only taking orders if they have the items in stock...
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India: Surat manufacturers extending factory hiatus until November 27 due to high cost of rough relative to polished...
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Hong Kong: Possible reopening of Chinese border raising hopes for market improvement...
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GemGenève, Auctions and Fancy Shapes
WITH THE RAPAPORT DIAMOND PODCAST

In episode 51, the editorial team takes listeners on a wild ride through the GemGenève show, the latest Magnificent Jewels auctions, and the fancy-shape market.

Shipping Bottleneck May Be a Boon for Jewelers
WITH LEAH MEIROVICH

Supply issues preventing toys, electronics and other items from reaching stores in time for Christmas could help the industry capture market share.

UPS AND DOWNS
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WEEKLY NEWS
retail
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US Retail Sales Jump as Holidays Start Early
Total rose 16% year on year in October, NRF says.
US Jewelry Sales to Get Thanksgiving Boost
Retail revenues will increase 40% compared to 2020, Mastercard SpendingPulse predicts.
Cartier Owner Sees Sales Soar
Richemont jewelry revenue up 69% in first fiscal half.
Brilliant Earth Sales Jump Ahead of Holidays
Omni-channel jeweler gives upbeat forecast in its first earnings report as public company.
Jewelry in Low Supply Online for Holidays – Adobe
Category has one of the retail industry’s highest out-of-stock rates.
David Yurman Names Evan Yurman as President
Son of cofounders will succeed Carol Pennelli at US luxury jeweler.
industry
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Zimbabwe to Take Helm at Kimberley Process
Country will become vice chair next year and chair in 2023.
Baselworld’s Spring 2022 Show Is Canceled
Organizer needs “more time” to work out what the industry wants.
Colored Diamonds to Lead Christie’s New York
5.38-carat, fancy-vivid-orangey-pink stone expected to fetch up to $3.2 million at Magnificent Jewels sale.
Luxury Goods Market Set for Rebound
Category up 29% year on year in 2021, Bain estimates.
mining
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Alrosa to Lift Production Amid Positive Outlook
Miner optimistic for diamond demand in 2022.
Petra to Hold First Sale Since Williamson Restart
32.32-carat, pink rough on offer at Antwerp tender.
BlueRock Pauses Mining at Kareevlei
Company receives notice of possible safety breach at South Africa site.
general
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GIA Welcomes New Governors
Dave Bindra and Marcus ter Haar join board, while Lisa Locklear becomes chair-elect.
Christie’s to Sell Blue Diamond at Online Auction
Stone could fetch nearly $700,000, company estimates.
Sarine Sales Rise as Manufacturing Rebounds
Revenue up 64% year on year in third quarter, but uncertainties remain.
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