Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Polished Diamond Prices Climb Again
Shortages following a “reasonably good holiday season” in the United States spurred another increase in polished diamond prices, Rapaport said Tuesday.
New York--Shortages following a “reasonably good holiday season” in the United States spurred another increase in polished diamond prices, Rapaport said Tuesday.
The Rapaport RapNet Diamond Index (RAPI) for 1-carat, GIA-graded diamonds rose 0.9 percent in January, while the RAPI increased 5 percent for both 0.30-carat and 0.50-carat diamonds.
The only size tracked by the RAPI to record a drop in January was 3-carat stones, with prices down 0.5 percent.
U.S. jewelers replenishing stock sold during the season, as well as making some additional inventory purchases, drove polished trading globally. However, uncertainty remains as consumer demand is sluggish in emerging markets and the strong U.S. dollar is putting a damper on consumer spending in the U.S.
In a statement released Jan. 28, Rapaport Group Chairman Martin Rapaport said the group expects a “healthy” diamond market to emerge as long as De Beers “continues on a responsible path”--keeping rough prices in line with market conditions.
He also said the group’s mid- to long-term outlook for both the global economy and the diamond market is positive, as long as consumer demand for diamonds remains stimulated.
Calculated monthly by Rapaport, the RAPI is based on the average asking price in hundred $/carat of the 10 best-priced diamonds, for the top 25 quality round diamonds (D-H, IF-VS2, RapSpec-A3 and better) offered for sale on the company’s diamond trading network, RapNet.
January marks the third month in a row that polished diamond prices have increased after slumping for the better part of a year. The RAPI for 1-carat diamonds increased about 2 percent in December and was up 1 percent in November.
Despite the three-month uptick in polished diamond prices, they still remain below what they were a year ago as manufacturers seek to reduce excess inventory.
The RAPI for 1-carat diamonds is down 4 percent year-over-year and it’s dropped 8 percent for 0.30-carat diamonds, 9 percent for half-caraters and 14 percent for 3-carat stones.
The Latest
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.