RAPAPORT PRESS RELEASE, January 7, 2025, Las Vegas… The diamond market was stable in December, with holiday sales matching the industry’s modest expectations. Rapaport reduced prices on the Rapaport Price List on January 3, 2025, in response to steady but deep trading discounts.
The RapNet Diamond Index (RAPI™) for 1-carat diamonds — reflecting round, D to H, IF to VS2 goods — decreased 0.5% in December. The index for 0.30-carat diamonds rose 1% as improvements in D to F, VVS items outweighed declines in G to H, VS1 to VS2 categories. The 0.50-carat RAPI increased 0.8%, and 3-carat prices climbed 0.2%.
The month capped off a difficult 2024. RAPI for 1 carat fell 23% for the year amid synthetics competition and a drop in Chinese demand.
SIs, which the RAPI excludes, saw a more negative price trend after outperforming the higher clarities for most of 2024. Prices of round, 1-carat, D to H, SI diamonds slid 2.4% in December and 7.4% for the year.
The January 3 Rapaport Price List changes, for 603 categories in rounds and 305 in pears, reflected the 2024 price declines in the market. The Rapaport Price List for round, 1-carat, D to H, IF to VS2 diamonds fell 13% during 2024, while the RAPI, which tracks actual asking prices on RapNet, fell 23%. For SI diamonds in that size and color range, the Rapaport Price List decreased 3.4%, compared with the 7.4% decline in RapNet asking prices.
US jewelry retail sales rose 4% year on year between November 1 and December 24, Mastercard SpendingPulse reported. However, the diamond trade entered 2025 with caution. Manufacturers’ sales slowed during December as retailers and wholesalers focused on selling rather than buying. Polished production remains low.
The rough market has been in crisis, with uncertainty about supply, demand and prices. Around 10 De Beers sightholders received no allocations for 2025 after missing 2024’s purchase thresholds.
Chinese demand was weak ahead of Lunar New Year. India’s jewelry market was robust over the wedding season.
Rapaport Media Contacts: [email protected]
US: Sherri Hendricks +1-702-893-9400
International: Avital Engelberg +1-718-521-4976
About the RapNet Diamond Index (RAPI™): The RAPI is the average asking price, in hundred dollars per carat, of the 10% lowest-priced round diamonds in each of the top 25 quality categories (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet® (www.rapnet.com). Additional information is available at www.rapaport.com.
About the Rapaport Group: The Rapaport Group is an international network of companies providing added-value services that support the development of ethical, transparent, competitive and efficient diamond and jewelry markets. Established in 1976, the group has more than 20,000 clients in over 120 countries. Group activities include Rapaport Information Services, providing the Rapaport benchmark Price List for diamonds, as well as research, analysis and news; RapNet, the world’s largest diamond trading network, with daily listings of over $8 billion; and Rapaport Trading and Auction Services, the world’s largest recycler of diamonds. Additional information is available at www.rapaport.com.
