Press Releases Rapaport: Diamond Prices Slid in August Published 4 years ago on September 11, 2017 By INSTORE Staff Share Tweet Suppliers are optimistic about the holidays. (PRESS RELEASE) NEW YORK — Diamond prices remained under pressure with slow trading during the August vacation period. Liquidity and profitability tightened during the summer, but suppliers are optimistic that trading will improve ahead of the fourth-quarter holiday season. The RapNet Diamond Index (RAPI) for 1-carat diamonds fell 0.6 percent in August and declined 3.8 percent since Jan. 1.As the Rapaport Monthly Report – September 2017 notes, polished inventory is rising, with steady manufacturing and sluggish demand as dealers prepare for the holiday season. Liquidity concerns deepened following reported defaults by manufacturer InterJewel and wholesaler Ankur Diamonds. Manufacturers are under pressure, as rough prices rose an estimated 3 percent in the first half of 2017 and polished inventory levels continue to rise. The number of diamonds listed on RapNet has risen 22 percent since January to 1.44 million on Sept. 1. Rough trading slowed in August after a robust first half, with De Beers boxes selling at low average premiums on the secondary market. Rough demand is expected to slow in the coming month due to the tight manufacturing profit margins and possible oversupply of polished. Indian cutters brought forward their pre-Diwali purchases, since the festival is earlier than usual this year, on Oct. 19. Suppliers are hoping the September Hong Kong Jewellery & Gem Fair will spur stronger polished trading. Chinese buyers are pushing for higher discounts as they prepare for the Oct. 1 National Day. Dealers are trying to hold prices firm in anticipation of stronger demand as retailers purchase their holiday inventory. Advertisement Improved earnings at Signet Jewelers and Tiffany & Co., along with increased industry marketing budgets, have raised expectations for the holiday season. Attention is focused on De Beers’ branding and the Diamond Producers Association’s generic campaigns to stimulate demand and higher polished prices. The Rapaport Monthly Report can be purchased at store.rapaport.com/monthly-report. Related Topics: diamondsRapaport click to Comment(Comment) Up Next Jewelers for Children Supports Hurricane Relief Efforts Don't Miss Vahan Jewelry Launches First Men’s Collection Advertisement SPONSORED VIDEO Thinking of Liquidating? Think: Wilkerson When Peter Reines, owner of Reines Jewelers in Charlottesville, VA, decided it was time to turn over the “reins” of his 45-year-old business to Jessica and Kevin Rogers, he chose Wilkerson to run his liquidation sale. It was, he says, the best way to maximize the return on his decades-long investment in fine jewelry. Now, with new owners at the helm, Reines can relax knowing that the sale was a success, and his new life is financially secure. And he’s glad he partnered with Wilkerson for this once-in-a-lifetime opportunity. “There’s just no way one person or company could run a sale the way we did,” he says. You may like Promoted Headlines Thinking of Liquidating? Think: Wilkerson Wilkerson Consolidating Stores? Time to Call the Experts! Wilkerson It’s Going to Set Us Up Very Nicely for Retirement Wilkerson Advertisement Latest Trending Videos Press Releases1 day ago SJTA Announces 2022 Board of Directors Columns1 day ago Here’s Why You Should Consider Hiring a Business Coach Cover Stories1 day ago 23 Ways to Do More in Your Business by Doing Less Benchmarks3 days ago These Jewelry Retailers Grab Shoppers’ Interest with Inventive Displays Headlines3 days ago $8.7M in Fake Jewelry Seized in Cincinnati and Indianapolis Best of The Best1 week ago Louisiana Jeweler To Launch Diamonds into Space Jimmy Degroot1 week ago Video: Fix the ‘Glitches’ in Your Jewelry Business Jimmy Degroot1 month ago Video: Everyone in Your Jewelry Store Can Get Along. Here’s How. Sponsored Webinars2 months ago Podium Presents: SMS Marketing 101 for Jewelry Retailers Advertisement SubscribeBULLETINS INSTORE helps you become a better jeweler with the biggest daily news headlines and useful tips. (Mailed 5x per week.) Latest Comments Most Popular Benchmarks3 days ago These Jewelry Retailers Grab Shoppers’ Interest with Inventive Displays Headlines3 days ago $8.7M in Fake Jewelry Seized in Cincinnati and Indianapolis Best of The Best1 week ago Louisiana Jeweler To Launch Diamonds into Space Celebrity Jewelry5 days ago The ’60s Make a Comeback in Jewelry and Fashion Benchmarks3 days ago 11 Intriguing Examples of Jewelry Store Window Displays Hot Sellers5 days ago 90 Percent of Surveyed Jewelers Reported Growth in December. Here’s What They Sold Cover Stories1 day ago 23 Ways to Do More in Your Business by Doing Less Celebrity Jewelry3 days ago Judge the Jewels: Were Pharrell’s Diamond Tiffany & Co. Sunglasses Inspired by a Famous Antique?