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Rapaport TradeWire April 14, 2022
Apr 14, 2022 11:53 AM
By Rapaport
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| April 14, 2022 | | RAPAPORT MARKET COMMENT | | | | US retail supporting the market with steady demand, but dealer trading slow amid price uncertainty, China lockdown and Russian sanctions. US places Alrosa on OFAC Specially Designated Nationals list, blocking all US transactions with or benefiting the miner. American Gem Society urges members not to buy Russian-sourced diamonds even if cut outside of Russia and to require suppliers to sign ethical pledge. Alrosa cancels April tender as more banks refuse to facilitate payments. Updated sanctions news at sr.rapaport.com/sanctions. De Beers April sales +26% to $565M. LVMH jewelry and watch 1Q sales +24% to $2.5B. Christie’s NY totals $25.1M (96% by lot), with pear-shape, 8.82 ct., fancy intense purple-pink, IF ring fetching $6.8M ($770K/ct.). THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 22 DUE TO THE PASSOVER HOLIDAY. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.86% | -7.58% | 1.25% | | 0.50 ct | -0.89% | -5.27% | 10.65% | | 1.00 ct | -0.99% | -4.86% | 28.20% | | 3.00 ct | -0.69% | -3.24% | 31.64% | | | | 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: Dealer trading stable but slowing due to Passover and Easter holidays. | | | | | Belgium: Concerns rising about long-term impact US Alrosa sanctions will have on Antwerp trade. | | | | | Israel: More dealers considering implications of buying Russian-origin diamonds. | | | | | India: Manufacturers preparing to separate Alrosa goods from others to serve different markets. | | | | | Hong Kong: Luxury houses struggling due to lack of tourist shoppers and are shifting focus to mainland. | | | | | | | The Man with the Diamond Dream | | | | WITH AVI KRAWITZ | On the eve of his retirement from De Beers, Stephen Lussier reflects on a career that has spanned four decades. | | | | | Webinar: Diamonds in the Metaverse | | | | WITH RAPAPORT AND SARINE TECHNOLOGIES | How are Web3 and NFTs redesigning the way consumers experience luxury goods? This webinar will explore the opportunities these new technologies offer the diamond and jewelry industry, and untangle some myths and misconceptions. | | | | | Full Disclosure at Your Fingertips | | | | WITH THE GEMOLOGICAL INSTITUTE OF AMERICA (GIA) | Distinguishing natural diamonds from laboratory-grown stones is an ongoing challenge. The GIA outlines its latest approach to detecting the differences between the two products. | | | | | WEEKLY NEWS | | | | | | US Imposes Further Sanctions on Alrosa | | Treasury blocks Russian miner’s assets. | | | | | World Diamond Council Removes Alrosa | | Latest sanctions were “deciding factor,” US-incorporated organization says. | | | | | De Beers Cautious Despite April Sales Surge | | Sightholders adopting a more watchful approach due to war in Ukraine and Covid-19 lockdowns in China. | | | | | Fuchsia Rose Diamond Sells for Nearly $7M | | Christie’s to auction 205.07-carat Red Cross in May. | | | | | Big Diamonds Rock Heritage Auction | | Necklace featuring 21.93-carat stone has high estimate of $250,000. | | | | | | | | | Tiffany Growth Boosts LVMH in First Quarter | | Jewelry and watch sales rose 24% during three-month period. | | | | | Chow Tai Fook Growth Slows as Pandemic Resurges | | Retail revenues climbed 8.5% in the fourth fiscal quarter, but same-store sales slumped. | | | | | Michael Hill Sees Strong Start to 2022 | | Group revenue up 11% year on year in third fiscal quarter. | | | | | Titan Jewelry Sales Drop Amid Global Uncertainty | | India’s Omicron wave and rising gold prices also dampened spending at beginning of 2022. | | | | | Watches of Switzerland Welcomes New Deputy CEO | | David Hurley will also serve as president of company’s North America segment. | | | | | | | | | Israel’s Polished Exports Surge | | First-quarter figures were strong but didn’t yet reflect impact of Russia crisis. | | | | | The Pulse of Progress | | NGOs and industry insiders discuss the issue of human rights abuses in the trade. | | | | | Sotheby’s to Showcase $12.8M Pink in Hong Kong | | Nicholas Lieou ring featuring 5.11-carat diamond is among top pieces in upcoming auction. | | | | | Former Alrosa Exec Joins Hearts on Fire | | Rebecca Foerster tapped to expand the brand's presence in North America. | | | | | 45ct. ‘Star’ Diamond Sets Online Record at Christie’s | | D-flawless stone nets $4.6 million, becoming most expensive jewel to sell in virtual auction. | | | | | | Contact Us |  |       | | © Copyright 2022 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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