‘Diamond Prices Rise’- Rapaport
Demand for rough diamonds increase in the first sales cycle of 2018
Diamond retailers have reported a better-than-expected holiday season translating to increased diamond sales, a recent Rapaport Diamond Sales Report has revealed.
According to the report, diamond market sentiment improved in January with firm prices after retailers reported a better-than-expected holiday season with suppliers gaining confidence about first-quarter orders as jewelers start to replenish stock after holiday sales.
“The RapNet Diamond Index (RAPI™) for 1-carat diamonds rose 2.2% during January. RAPI for 0.30-carat diamonds increased 2.3%, while 0.50-carat stones gained 2.4%. RAPI for 3-carat diamonds edged up 0.5%,” reads the report, which goes on to note that despite the upswing, RAPI for 1-carat diamonds was down 2.3% from a year ago.
The report continues to state that established higher-end jewelers such as Tiffany & Co Bulgari, Cartier, and Van Cleef & Arpels had a strong holiday season, as did independent retailers with prominent displays of recognized diamond jewelry brands.