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Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
October 10, 2024
News: Sentiment improving. Low production and upcoming Diwali break expected to reduce current high inventory levels. Rapaport Nov. auctions with viewings in NY, Dubai and Israel raised $8,585,719, with 81% sold by value. Focused demand creating shortages of select better items. Fancies and round SI oversizes stabilizing. Indian liquidity improving. US and India retail stable. Wholesalers buying selectively. 1 ct. RAPI for Sep. -4.1%. Sotheby’s totals $11M at HK Magnificent Jewels, with top four lots unsold. Signet CEO Gina Drosos to retire. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON OCT. 18 OR 25 DUE TO THE JEWISH HOLIDAY OF SUKKOT. Next Price List on Nov. 1.
Fancies: Fancy-shape prices stabilizing, but decline is more moderate than for rounds. US buyers more selective about quality of SIs, rejecting black centers and short ratios. Elongated shapes in demand. Fancies with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Square cushions slow. Very well-cut fancy shapes hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
Country Comments
United States
New York wholesale market quiet during Jewish holidays. Retail stores seeing steady sales. Dealers doing business mainly on memo. Little concern about impact of Nov. 5 presidential election. JIS Fall show in Miami ends one day early due to Hurricane Milton.
Belgium
Dealers sense improvement, but confidence remains muted. Customers still buying on demand and not for stock. Fancy colors selling, especially pinks.
Israel
Activity low due to weak overseas demand, ongoing war, and Jewish festival season.
India
Production low and liquidity improving. Good local market, supporting demand for small diamonds. Selective buying is creating shortages for in-demand categories. Other goods still suffering from oversupply and price pressure. Industry hopes Christmas orders will boost trade.
Hong Kong
Slight improvement in business since slow September Jewellery & Gem World show. Chinese and Hong Kong stock markets rallying. Diamonds under 1 ct. selling better than larger sizes, with melee moving well. Dealers trying to raise cash. August Hong Kong retail sales of jewelry, watches, clocks and valuable gifts down 24% year on year at $505.8 million.
Market Comment
The diamond trade’s trusted bulletin for pricing, trends and news
Weekly since 1980
October 10, 2024
News: Sentiment improving. Low production and upcoming Diwali break expected to reduce current high inventory levels. Rapaport Nov. auctions with viewings in NY, Dubai and Israel raised $8,585,719, with 81% sold by value. Focused demand creating shortages of select better items. Fancies and round SI oversizes stabilizing. Indian liquidity improving. US and India retail stable. Wholesalers buying selectively. 1 ct. RAPI for Sep. -4.1%. Sotheby’s totals $11M at HK Magnificent Jewels, with top four lots unsold. Signet CEO Gina Drosos to retire. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON OCT. 18 OR 25 DUE TO THE JEWISH HOLIDAY OF SUKKOT. Next Price List on Nov. 1.
Fancies: Fancy-shape prices stabilizing, but decline is more moderate than for rounds. US buyers more selective about quality of SIs, rejecting black centers and short ratios. Elongated shapes in demand. Fancies with medium and short ratios harder to sell. Supply shortages supporting prices for Marquises. Square cushions slow. Very well-cut fancy shapes hard to find and commanding premiums. Oversizes trading at higher prices than usual. Off-make, poorly cut fancies illiquid.
Country Comments
New York wholesale market quiet during Jewish holidays. Retail stores seeing steady sales. Dealers doing business mainly on memo. Little concern about impact of Nov. 5 presidential election. JIS Fall show in Miami ends one day early due to Hurricane Milton.
Dealers sense improvement, but confidence remains muted. Customers still buying on demand and not for stock. Fancy colors selling, especially pinks.
Activity low due to weak overseas demand, ongoing war, and Jewish festival season.
Production low and liquidity improving. Good local market, supporting demand for small diamonds. Selective buying is creating shortages for in-demand categories. Other goods still suffering from oversupply and price pressure. Industry hopes Christmas orders will boost trade.
Slight improvement in business since slow September Jewellery & Gem World show. Chinese and Hong Kong stock markets rallying. Diamonds under 1 ct. selling better than larger sizes, with melee moving well. Dealers trying to raise cash. August Hong Kong retail sales of jewelry, watches, clocks and valuable gifts down 24% year on year at $505.8 million.
Previous Market Comments
Market Comment: June 12, 2025
Market Comment: June 5, 2025
Market Comment: May 29, 2025
Market Comment: May 22, 2025
Market Comment: May 15, 2025
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Previous Market Comments
Market Comment: June 12, 2025
Market Comment: June 5, 2025
Market Comment: May 29, 2025
Market Comment: May 22, 2025
Market Comment: May 15, 2025
Market Comment: May 8, 2025