RAPAPORT PRESS RELEASE, March 4, 2025, Las Vegas… The diamond market was seasonally slow in February, with prices strengthening for round, D to G, IF to VS1 goods in most sizes. Other categories showed mixed trends. Prices were stable for elongated fancy shapes, and increased for those weighing 2 carats or more. These trends were due to an ongoing reduction of polished inventory.
The RapNet Diamond Index (RAPI™) for 1-carat diamonds — reflecting round, D to H, IF to VS2 goods — increased 0.2% in February. The index for 0.30-carat diamonds rose 3.7%, with strong demand for D to E, IF to VVS1 qualities. The 0.50-carat RAPI went up 0.2%, and 3-carat prices climbed 0.3%.
American retail remained stable. Valentine’s Day sales met expectations. US dealers’ restocking was selective, creating shortages of in-demand items while less-desirable goods accumulated in inventories. The Tucson shows performed well, with Rapaport launching the RapNet Gem Trading Network in partnership with the American Gem Trade Association (AGTA).
The Hong Kong International Diamond, Gem & Pearl Show opened this week. Traffic in the loose-diamond section exceeded low expectations, and prices stayed firm at the start of the show. There was good attendance from overseas buyers, but Chinese turnout was low.
Botswana’s government and De Beers signed an agreement on February 25, under which Botswana will receive 30% of joint venture Debswana’s diamonds for the next five years and 40% for five years after that. De Beers also agreed to create a diamond development fund to help the country diversify and create new jobs. That project would see the miner invest around $75 million.
Anglo American reduced De Beers’ book value by $2.88 billion to $4.1 billion during the month, reporting a 23% decline in revenue to $3.29 billion and a $288 million net loss. De Beers maintained steady prices at its February 24 sight. Secondary-market prices increased for rough below 0.50 carats.
The EU postponed traceability rules until January 2026, while the US delayed a bizarre “country of mining” requirement for polished-diamond imports.
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.
