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Rapaport TradeWire September 27, 2018
Sep 27, 2018 7:38 AM
By Rapaport
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| September 27, 2018 | | RAPAPORT MARKET COMMENT |  | | Diamond market quiet over Jewish holidays and Hong Kong Moon festival. Mixed expectations for Oct. 1 Golden Week, as consumer sentiment reflects impact of US-China trade war and yuan currency depreciation (-9.5% since April 1 to $1/CNY 6.88). India remains slow, particularly for low-value, small diamonds. Steady demand for 0.30 to 1 ct., D-J, SI, RapSpec A3+ goods. De Beers starts sales of lab-grown collection. Bonhams sees strong prices at NY auction, with emerald-cut, 23.13 ct., I, I1 Harry Winston ring selling for $444,500 ($19,217/ct.). Christie’s expects $30M to $50M for rectangular, 18.96-carat, fancy-vivid pink at Nov. Geneva sale. Andrew Bone to step down as CEO of the RJC. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.41% | -2.05% | 6.54% | | 0.50 ct | -0.08% | -0.82% | 2.87% | | 1.00 ct | -0.40% | -0.94% | 0.32% | | 3.00 ct | 0.38% | -0.04% | -1.28% |  | | 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. | | | | Rapaport World Tour – Asia & Sierra Leone |  | | WITH Martin Rapaport | In celebration of the 40th anniversary of the Rapaport Price List, the Rapaport Group is presenting a world tour featuring a series of lectures by Martin Rapaport. Martin will be attending the GIA Symposium in Carlsbad, California, and then visiting the following destinations: Tokyo – Oct. 11-16 Seoul – Oct. 16-18 Taipei – Oct. 18 Hong Kong – Oct. 19-23 Mumbai – Oct. 23-25 Singapore – Oct. 26-29 Bangkok – Oct. 30-31 Freetown, Sierra Leone – Nov. 6-13 While Martin’s schedule is very tight, he may have time to meet a limited number of friends. Email: martin@rapaport.com | | | WEEKLY NEWS | | industry | | | | 19ct. Pink Could Set Records | | Rectangular-cut stone is estimated at $30 million to $50 million. |  | | | Emerald Diamond Beats Estimates at NY Auction | | Harry Winston piece belonging to Kathrine Domyan sells for $445,500. | | | | | De Beers Launches African Women's Program | | Miner will support more than 1,200 female entrepreneurs in partnership with UN. | | | | | retail | | | | Amazon Applies for Jewelry-Line Patent | | “For Keeps” would be used for online retail sales. | | | | | Indian Ad Campaigns Target Millennial Women | | Jewelry marketing efforts aim to reach modern, independent consumers. | | | | | New CEO to Lead Michael Hill | | Daniel Bracken is currently head of Australia’s Specialty Fashion Group. | | | | | mining | | | | New Find to Add Life to Gahcho Kué | | Kimberlite discovery could increase mine’s production by 2.2 million to 4.2 million carats. | | | | | Prices Strong at Alrosa Large-Stone Auctions | | A selection of 81 rare diamonds will also go under the hammer in New York. | | | | | industry | | | | Andrew Bone to Leave RJC | | Membership at the organization doubled under his leadership. | | | | | Lower-Value Swiss Watches Dent Exports | | Shipments of timepieces priced under CHF 500 fell 10% in August. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | European stocks traded higher, with both LVMH (+4%) and Kering (+2.6%) gaining ahead of the US Federal Reserve decision to raise interest rates. That, along with the imposition of the largest set of tariffs yet in the US-China trade war, dented both US and Hong Kong retail stocks, with J.C. Penney (-5%), Macy’s (-1.9%), Signet (-2.1%) and Chow Sang Sang (-2.7%) all falling. Mining stocks also took a tumble this week: Lucapa Diamond (-2.1%), Lucara Diamond (-8%), Stornoway Diamond (-5%), Firestone Diamonds (-7%) and Gem Diamonds (-2%) shares all dropped. |  | | | Contact Us |  |       | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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