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Rapaport TradeWire June 10, 2021

Jun 10, 2021 11:03 AM   By Rapaport
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Ig Tw Banner Diamond And Jewelry Garding 25 April 2021
Rapaport TradeWire
June 10, 2021
RAPAPORT MARKET COMMENT
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Diamond market upbeat as orders stream in; dealers frustrated with sourcing difficulties. Prices firm due to supply shortages and steady US and Chinese demand. Rough trading strong as De Beers raises prices by estimated 5% for goods above 2 ct. Major jewelers gaining market share with robust e-commerce growth. Signet Jewelers 1Q sales +98% to $1.7B, profit of $138M vs. loss of $197M. Chow Tai Fook FY sales +24% to $9B, profit +107% to $796M. Christie’s NY sells $27M (87% by lot), with pear, 54.03 ct., D, IF Chrysler Diamond necklace going for $5.1M ($93,837/ct.). Sotheby’s NY achieves $38M (93% by lot) as 73.11 ct., fancy vivid yellow, VS2 Sienna Star garners $3.4M ($46,615/ct.).

Trade Wire 600X160 April 2018
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.47% 1.07% 9.25%
0.50 ct 0.53% 1.53% 15.92%
1.00 ct 1.85% 2.61% 20.96%
3.00 ct 1.24% 1.46% 16.07%
RAPI Yearly Graph
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Market Reports
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United States: Jewelers looking for merchandise but having difficulty finding the right stones at reasonable prices...
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Belgium: Strong interest in commercial-quality fancy shapes...
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Israel: Dealers struggling to maintain added value amid shortages and with manufacturers increasingly selling directly to retailers...
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India: Solid demand for certified goods; orders coming in from US, China and Hong Kong...
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Hong Kong: Large jewelers ordering goods destined for mainland stores...
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Banking on Diamonds
WITH Avi Krawitz

The diamond trade improved its creditworthiness before and during the pandemic and is learning to rely less on its lenders. We explore the industry’s relationship with the banks in this analysis from the June issue of Rapaport Magazine — the first in a series of articles on diamond financing. 

After Pandora, Is Cartier Next?
WITH The Rapaport Diamond Podcast

The editorial team tackles the hot topics facing the industry in episode 44 of the Rapaport Diamond Podcast. They include Pandora’s move to synthetics, Tiffany & Co.’s new yellow branding, and updates on the Indian manufacturing sector, the auction circuit and the state of the lending market.

UPS AND DOWNS
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Buying Frenzy Drives Price Surge in Hidden World of Gems
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Russia Weighs Selling More Diamonds to Tap Demand
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How Petra Diamonds Ended Up in a Human Rights Mess
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De Beers Facing Fine for Environmental Charge
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600X160 Podcast E44
WEEKLY NEWS
industry
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54ct. Diamond Crushes Estimate at Christie’s
Chrysler necklace brings in $5.1 million at New York Magnificent Jewels sale.
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Diamond Suppliers See ‘Unprecedented’ Sales
US companies face challenges replacing stock as it flies off the shelf.
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Diamond Necklace Leads $38M Sotheby’s Auction
Piece by designer Andrew Clunn fetches $4.1 million in New York.
retail
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Signet Gaining Market Share as Sales Soar
Revenue almost doubles in first fiscal quarter.
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China Expansion Drives Chow Tai Fook Sales
Revenue up 24% year on year amid opening of 746 new mainland stores.
mining
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De Beers Raises Prices of Larger Diamonds
Increase of around 5% comes amid rough shortages and solid polished demand.
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Alrosa Sales Steady as Cutters Continue to Buy
Proceeds from rough and polished diamonds down from April but much higher than a year earlier.
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Lucara Turns Up 470ct. Rough at Karowe
Miner also discovered five other 100-carat-plus stones in recent production run.
general
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India’s Polished Exports Set to Jump
Shipments will increase 20% to more than $20 billion this fiscal year, ratings agency forecasts.
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IGI Identifies 6ct. Lab-Grown Submitted as Natural
Fraudsters cut stone to match GIA report for a mined diamond.
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HK Customs Seizes Millions in Smuggled Diamonds
Discovery is largest of its kind on record, authorities say.
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India Launches New Trade Fair in Dubai
International Gem & Jewellery Show to take place in August.
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Phillips Garners $7M at Hong Kong Auction
10.59-carat diamond ring was top seller, fetching $968,039.
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Israel’s Polished Trading Surges Again
Exports more than tripled in May amid recovery in global diamond industry.
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Italian Watch Group Becomes CIBJO Member
Assorologi is the second timepiece association to join the confederation this year.
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Diamond Brooch Blows Away Estimate at Auction
Art Deco piece by Cartier sold for 10 times its high valuation.
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FINANCE
Diamond Industry Stock Report
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Retail stocks were mainly positive as the US economy continued to reopen. Chow Tai Fook (+4%), Macy’s (+4%), Richemont (+2%) and Luk Fook (+1%) all rose, while Walmart (-2%) inched down. Signet (-2%) also dropped ahead of its quarterly results announcement. Miners had a good week, with Alrosa (+13%), Gem Diamonds (+4%), Mountain Province (+3%) and Lucapa (+2%) gaining.

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