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Rapaport TradeWire December 23, 2021

Dec 23, 2021 10:25 AM   By Rapaport
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December 23, 2021
RAPAPORT MARKET COMMENT
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Diamond trade upbeat in final week before Christmas. Season strong so far. Retailers with seamless omni-channel programs did best as consumers combined online with pent-up desire to shop in stores. Momentum continuing despite rapid spread of Omicron. Dealers looking for goods but struggling to buy at current price levels. Rough trade robust due to shortages and rising expectations for post-holiday inventory replenishment. De Beers Dec. sight -27% to $332M, estimated 2021 rough sales +72% to $4.8B. Petra sells 32.32 ct. pink rough to Diacore for $13.8M. Rio Tinto appoints Angela Bigg as first female president and COO of Diavik mine. Rapaport wishes everyone happy holidays.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
0.79%
1.52%
-0.95%
0.50 ct
0.84%
1.82%
2.42%
1.00 ct
3.65%
5.52%
19.18%
3.00 ct
3.07%
8.45%
20.90%
RAPI Yearly Graph
Market Reports
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United States: Mid-size to large jewelers carefully managing inventory, hedging against potential price declines in 2022...
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Belgium: Notable price inflation of stones below 0.15 ct. over past two months...
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Israel: Suppliers have completed holiday orders and are expecting higher sell-through than usual on memo items...
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India: Rough market stable; manufacturers expect 1Q rise in polished demand...
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Hong Kong: Chinese retail improving and jewelry manufacturers ramping up production ahead of Lunar festival...
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The Art of the Auction
WITH RAPAPORT MAGAZINE

Legendary Christie’s auctioneer François Curiel has overseen some of the most famous jewelry sales, from Elizabeth Taylor’s collection to diamonds worth millions. In an interview with Martin Rapaport, he shares his expertise as the company’s chairman for Europe and international director of its luxury division.

UPS AND DOWNS
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WEEKLY NEWS
industry
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De Beers and Botswana Extend Sales Deal Again
Existing contract will remain in place until end of June 2022.
Pink Diamond Sells for Nearly $14M
Diacore buys 32.32-carat stone, which originated from Petra’s Williamson mine.
retail
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Super Saturday Shopping Solid Despite Omicron
Foot traffic at brick-and-mortar locations up 19% year on year.
Nadja Swarovski Exits Family Business
She has been with the company for 26 years.
David Yurman Accuses Mejuri of Copying Its Designs
Alleged infringement caused business to suffer, lawsuit claims.
mining
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De Beers Sales Soften Ahead of Holiday Shutdown
Revenue from rough down 27% year on year in December.
Diavik Mine Gets First Female President
Rio Tinto puts Angela Bigg in charge of the Canadian deposit.
Lucapa Predicts $1B in Revenue from Merlin Mine
Australian site will produce 2.1 million carats annually, company forecasts.
Omicron Outbreak Halts Mining at BlueRock
Workers at Kareevlei deposit in South Africa test positive for new variant.
general
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GEM Awards Postponed as Omicron Spreads
Jewelers of America’s 2022 gala event will take place in March instead of January.
Belgium Diamond Trading Continues to Rise
Polished exports up 12% in November.
Swiss Watch Exports Highest Since 2014
Orders increased 9% last month compared with 2019.
India’s Shipments Drop Amid Diwali Closures
November saw first year-on-year decline in polished exports since October 2020.
Lalique Sets Auction Record at Sotheby’s
Ivory, horn, enamel and diamond comb brings in $836,000 at Paris sale.
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