Rapaport Weekly Market Comment
Nov 30, 2017 11:00 AM By Rapaport News
Holiday season begins with better-than-expected in-store and online traffic over Thanksgiving weekend. Average spend +15% to $335 per consumer, driven by older millennials, reports NRF. Cyber Monday breaks records with $6.6B in online purchases, according to Adobe Digital Insights. Optimism continues as stock markets hit new highs (Dow at 23,959). Polished market stable with caution over large stones. Tiffany & Co. 3Q sales +3% to $976M, profit +5% to $100M. Luk Fook 1H sales +15% to $805M, profit +20% to $67M. Christie’s HK garners $94M as oval, 14.93 ct., fancy vivid pink, VVS1 diamond fetches $32M ($2.1M/ct.). Sierra Leone Peace Diamond to be auctioned in New York on Dec. 4.
Fancies: Curved fancy shapes in good demand. Ovals are strongest category, followed by Pears and Cushions. Some squares — Emerald and Radiant — are okay, but Princess still weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with limited supply. US demand supporting market for commercial-quality, medium-priced fancies under 1 ct. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies not liquid and hard to sell, even at very deep discounts.
United States: Positive trading environment with dealers and jewelers filling Christmas orders. Sentiment improving after busy Black Friday and Cyber Monday. Tiffany signals strong fashion- and solitaire-jewelry segments, slight weakness in engagement and bridal. Steady demand for 1 ct., G-H, VS-SI diamonds. Fancy colors getting more attention.
Belgium: Market improving with steady European demand. Good demand for 0.30 to 0.50 ct., G-J, SI diamonds. Nice 1 ct. goods (3X, no fluorescence) selling. High-end D-IF diamonds soft. Dealer margins tight. Rough tenders robust with high prices relative to polished.
Israel: Steady polished trading with dealers filling US and Asia demand. Chinese buyers insisting on no cloudiness in SI stones. Steady demand for 1 ct., I-K, VVS2-VS1 diamonds. Stable demand for 0.30 to 0.50 ct., D-H, VS-SI RapSpec A3+ goods. Fancy color market positive with good demand for pinks and blues.
India: Stable market but still slightly subdued after Diwali. Foreign buyers looking for goods in Mumbai to fill Chinese holiday orders. Steady demand for dossiers, especially 0.30 to 0.50 ct. and 1 ct., G-J, VS-SI diamonds. Manufacturers shifting to smaller goods to maintain factory operations and garner better margins. Polished production at estimated 60% to 80% of full capacity as workers continue to return from Diwali break.
Hong Kong: Optimistic mood with better activity than last year and positive retail sales growth. Steady weekend activity expected at B2C Hong Kong International Jewelry Manufacturers’ Show, with many dealers attending as visitors rather than exhibitors. Stable demand for 1 ct., G-H, VS-SI, RapSpec A2+ diamonds with reported shortages. Dossiers selling well. Jewelers preparing for Christmas and Chinese New Year season.
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Rapaport Weekly Market Comment
Diamond market optimistic, but polished prices continue to soften. 1 ct. RAPI -0.9% in Nov. due to weak demand for D-F, IF-VVS goods. Holiday season driving positive sentiment, with strong growth in purchases via mobile devices. Retailers creating selfie events and experiences to lure customers away from laptops and into stores. Sotheby’s NY garners $53.9M (82% by lot), with sale of emerald-cut, 5.69 ct., fancy vivid blue, VVS diamond for $15.1M ($2.7M/ct.). Christie’s NY fetches $62.6M as Graff ring with two pear-shape, fancy vivid blue diamonds – 3.36 ct., VVS2 and 2.71 ct., VS1 – sells for $12.6M ($2.1M/ct.). Graff buys Sierra Leone Peace Diamond for $6.5M.
Fancies: Curved fancy shapes in good demand. Ovals are strongest category, followed by Pears and Cushions. Some squares — Emerald and Radiant — are okay, but Princesses still weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with limited supply. US demand supporting market for commercial-quality, medium-priced fancies under 1 ct. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.
United States: Steady trading with positive momentum for holiday season. Dealers filling local and international orders. Shortage of fine-quality RapSpec A2+ diamonds. Large availability of lower-quality goods that are difficult to move. Retailers capitalizing on jewelry-stacking and -layering fashion trend this season.
Belgium: Slight dip in sentiment, with European market lacking usual Christmas buzz. Steady demand for 1 ct., G, VS (3X, no-fluorescence) diamonds. Pointer sizes selling, with good demand for 0.30 to 0.50 ct., G to J, SI2 to I1 goods. Large-stone demand soft. Rough trading cautious during De Beers sight, following rough auctions with firm prices in November.
Israel: Polished trading stable as dealers fill orders from New York and Hong Kong. Strong online sales through James Allen in November. Good demand for 1 ct., I-K, VS-SI diamonds. Steady demand for unique fancy color diamonds and fancy shapes. New tax law passed by the Knesset calculates diamond trade levy based on profit rather than transaction volume.
India: Sentiment improving, driven by US and Chinese demand. Manufacturers focusing on small stones in sufficient volumes to keep factories operating at required levels. Inventory slowly declining as manufacturing remains below capacity and as holiday orders get filled. Rough demand stable as cutters start to prepare for anticipated rise in first-quarter sales.
Hong Kong: Stable market, with dealers and jewelers reporting better sales than this time last year. Steady demand for 0.30 to 1 ct., G-H, VS-SI (3X, no-fluorescence) diamonds. Dealers gain few orders at B2C Hong Kong International Jewelry Manufacturers’ Show. Jewelers expanding in China again, with rising retail expectations for Chinese New Year.
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Predané ; tri ks. fantazijná vivid žltá s hmotnosťou 5,29, 3,11 a 2,37 karátov priniesol 606 029 dolárov (452 750 GBP).
druhý kupujúci za ostatné dva ks. s hmotnosťou 2,08 a 1,93 karátov, zaplatil 167 319 dolárov (125 000 GBP).
Obrázky:
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Info pre Altmana.😉
RAPAPORT... De Beers reported steady demand for rough diamonds at its December sight as sales showed an increase over the equivalent period last year.
The miner sold $450 million worth of rough in its final sales cycle of the year, including last week’s sight in Gaborone and its auctions, it reported Tuesday. Provisional proceeds rose 6.6% compared with actual sales for the same period last year, though they slipped 3.4% from November sales.
“The 10th sales cycle of the year saw the continuation of good demand for De Beers’ rough diamonds as we head towards the end of 2017,” CEO Bruce Cleaver said. “Demand was broadly stable on the levels seen in cycle nine, with sales slightly ahead of the equivalent period in 2016.”
Sightholders did not leave goods on the table, partly because of the seven-week gap until the January sight, as opposed to the usual four-week wait, Dudu Harari of diamond broker Bluedax said in a report on the sight. Rough demand is traditionally strong in January as manufacturers seek to fill retailers’ post-holiday inventory gaps ahead of the Chinese New Year, which this time falls on February 16.
While premiums on the secondary market rose in some categories, dealers are still trading many boxes of De Beers goods at a loss, while manufacturers’ profits are still slim due to relatively high rough prices and weak polished demand, Harari added.
Even so, both De Beers’ and Alrosa’s figures showed an improvement in the rough market compared with the same time in 2016. A year ago, demand for lower-value rough slumped due to the impact of India’s November demonetization policy, which damaged miner’s sales in the final two months of that year. This year, Alrosa’s November sales leapt 36% relative to last year, according to the company.
De Beers sells about 90% of its rough diamonds through long-term contracts at 10 sales per year, called sights. The first sight of 2018 will begin on January 22.
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Bilancia De Beers
2016 2017
Prvý predajný cyklus 545 miliónov USD 729 miliónovUSD
druhý 617 miliónov USD 553 miliónov USD
tretí 666 miliónov USD 586 miliónov USD
štvrtý 636 miliónov USD 522 miliónov USD
piaty 564 miliónov USD 530 miliónov USD
šiesty 528 miliónov USD 576 miliónov USD
siedmy 639 miliónov USD 507 miliónov USD
ôsmy 494 miliónov dolárov 376 miliónov USD
deviaty 476 miliónov USD 466 miliónov USD
desiaty 422 miliónov USD 450 miliónov dolárov (predbežne)
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Rapaport Weekly Market Comment
Dec 14, 2017 11:00 AM
Diamond markets driven by last-minute Christmas orders and preparations for Chinese New Year. US retail sentiment gets boost from economic growth, pending tax cuts and record-high stock market (Dow at 24,666). Cost of credit rising as Fed hikes interest rates 0.25 points based on positive job-market outlook. Polished inventory reduced due to holiday demand and low availability of new manufactured goods. Synthetics, tight bank credit and manufacturing profit among biggest concerns for 2018. Rough market stable at $450M Dec. sight. De Beers 2017 estimated rough sales -5% to $5.3B. Belgium Nov. polished exports +11% to $971M, rough imports -13% to $986M.
Fancies: Curved fancy shapes in good demand. Ovals are strongest category, followed by Pears and Cushions. Some squares — Emerald and Radiant — are okay, but Princesses still weak. Oversizes selling well. Steady demand for fine-quality 6 to 10 ct. Ovals, Pears and Emeralds, with limited supply. US demand supporting market for commercial-quality, medium-priced fancies under 1 ct. Far East demand improving as consumers seek fancy shapes at better prices. Off-make, poorly cut fancies illiquid and hard to sell, even at very deep discounts.
United States: Positive sentiment as Christmas approaches. Suppliers sending goods on short-term memo to stimulate deals. Steady demand for 1 to 2.5 ct., G-I, VS-SI diamonds. Large volume of lower-quality milky goods available at higher discounts. Good demand for eye-clean SIs. Jewelers expecting better holiday season than last year.
Belgium: Trade slowing before the Christmas break. Dealers offering higher discounts on lower-quality goods, as they don’t want to hold inventory over the holiday period. Steady demand for 0.30 to 1 ct., F-H, VS-SI diamonds. Rising interest in fancy color and fancy shape diamonds. Dealers concerned about impact of online buying.
Israel: Stable market with steady orders from the US and Hong Kong. Inter-dealer trading slowing. Improving demand for 1.01 to 1.08 ct., D, IF and 1.01 to 1.08 ct., G, VS2 diamonds. Buyers looking for better-quality polished, which is in short supply. Rough trading consistent, with slightly better margins on the secondary market.
India: Positive sentiment despite sluggish polished trading. Manufacturers maintaining low production until end of the year. Improved melee demand in 4Q. Rough trading steady, with slightly better margins on the dealer market, but manufacturing profit squeezed.
Hong Kong: Polished trading stable, with large retailers stocking up for Chinese New Year (Feb. 16). Rising expectations for the season amid improved consumer sentiment. Good demand for 1 ct., D-H, VS-SI, RapSpec A2+ diamonds. Dossiers steady. China better than Hong Kong, as Chinese consumers and tourists shift focus to local spending
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