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Rapaport: Diamond Prices Rose 10% Last Year


Abstract : Rapaport Report Dated December 31, 2010

The Rapaport Group reported in its communiqué dated January 7, 2010 that that polished diamond prices went up by 10.3% in 2010 following a decline of 7.6% in 2009.  It reported that prices for 0.50ct increased by 4.1%, 1.0ct by 12.3% and 3ct by 24.6%.  Prices at Rapaport Melee Auctions also increased by 57%.

Rapaport estimates that average prices for rough increase by about 21% in 2010.

US holiday sales meets expectations and dealers hope that the positive demand will extend to the Far East in view of the coming Chinese New Year on February 3, 2011. Cutters concerned mining companies may raise rough prices following strong 4Q rough sales. Israel’s 2010 polished exports +48% to $5.8B, rough imports +51% to $3.8B.  Investors start 2011 bullish as Dow reaches two-year high (11,722.89)

The group also reported that:

1) Large, high quality diamonds did well in 2010, as did small, inexpensive diamonds.

2) With more than 600,000 cutters, India now dominates diamond production, assisted by easy banking credit and a powerful local jewelry market that is growing at about 25 percent a year.

3) Diamond producers’ stockpiling and cuts in production created shortages that resulted in speculative pricing and reduced manufacturer profits.

“While the U.S. recovery will take time, the global diamond markets are well positioned for growth in 2011,” said Martin Rapaport, chairman of the Rapaport Group. “The trade is advised to enjoy the ride as long as interest rates remain low, avoid speculation and maintain liquidity.”

Note: Last year we sold a number of 1ct and above solitaire diamonds to be set as wedding and engagement rings.  Our clients have been calling us expressing their appreciation.

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I am a Graduate Gemologist trained at the Gemological Institute of America (GIA) in New York City, USA. I hold an MBA degree from Cranfield University, United Kingdom, and a Bachelor degree in Mathematics. My earlier profession was a banker until I found jade in Myanmar (Burma) in the early 90s. I have traveled to the fabled Hpakan Jade mines, and Mogok, the world’s famous rubies and sapphires mines in upper Burma, with my second son. Three of my children are also Graduate Gemologist, GIA, NYC and they deal in diamonds, gemstones and jade. 我是在美国纽约市的美国宝石学院(GIA)接受过培训的宝石研究学家。 我拥有英国克兰菲尔德大学的工商管理硕士学位和数学学士学位。我以前的职业是银行家,直到90年代初我在缅甸接触到玉石。我曾经和我的次子一起去过缅甸上流传说中的哈帕翡翠矿山和莫谷矿山, 莫谷矿山是世界上著名的红宝石和蓝宝石矿山。我的三个孩子都是纽约市GIA毕业的宝石研究学家, 他们专门处理钻石,宝石和玉石.