Welcome to the section of our blog dedicated to monthly diamond market updates. This space is designed to provide our readers with up-to-date information on the current state of the market and highlight the most important news and the most significant trends. All information presented comes from qualified sources (Rapaport.com, Idexonline.com)..

Market Overview

In July 2024, natural diamond prices saw a significant decline due to falling retail sales and oversupply. In addition, the usual summer slowdown further contributed to the reduction in sales.

The RapNet Diamond Index (RAPI™) for one-carat diamonds, which refers to round diamonds from D to H, IF to VS2, fell 7.3% in July, marking the largest monthly drop for this size category since December 2008. Also, 0.30 and 0.50 carat diamonds recorded a decrease of 8.9% and 7.9% respectively, while prices for 3-carat stones decreased by 5.8%. Despite a more moderate decline of 3.2% for 1 carat round diamonds, D to H, SI, the market generally showed signs of weakness, with an increase in polished diamond inventory and a reduction in production by Indian manufacturers, with the aim of realigning supply with the current level of demand.

Featured Events Of July 2024

• Rough diamond sales remained weak, estimated below $200 million.
• Luxury brands bought fewer diamonds compared to previous years, with sales of prestige jewelry and watches down 5% in the first half of 2024.
• IDEX’s August 1, 2024 report highlights that while small diamond prices continued to decline, some larger stones saw price increases.
• Round diamonds continue to dominate the market, accounting for 85.78% of demand, up 3.34% compared to June 2024.
• The market for lab-grown diamonds suffered a dramatic price drop: from $300 per carat to just $78 per carat.

Two curiosities from the world of diamonds

• During the Paris 2024 Olympic Games, legendary American gymnast Simone Biles wore a truly special piece of jewelry: a personalized goat-shaped pendant. The word “goat” means goat in English, but for Biles it refers to the acronym “GOAT” (Greatest of All Times: the best of all time). This extraordinary piece in white gold, adorned with 546 diamonds, was handcrafted by Californian jeweler Janet Heller, to celebrate the incredible career of Biles, who with the two Olympic golds added this year, has become the most decorated gymnast in all times. Each of the 546 diamonds expresses the athlete’s extraordinary dedication and perseverance. In addition to this beautiful pendant, Simone also wore a necklace with five Olympic rings, symbolizing her exceptional career through various editions of the Olympic Games.

A study published in July 2024 confirmed that Neptune and Uranus, two planets in our solar system, rain diamonds! The extreme pressure and temperature conditions on these planets cause carbon atoms to crystallize, forming showers of solid diamonds. This cosmic phenomenon adds an even more extraordinary dimension to the allure of diamonds, proving that these precious gems are not only found on Earth, but are scattered throughout the universe.

Spotlight Of The Month: Pomellato, A Totally Italian Hit

The prestigious jewelry company Pomellato was founded in Milan in 1967 by Pino Rabolini, the visionary heir of a family of jewelers, driven by the desire to revolutionize the world of jewelry. With a philosophy that sought to combine Italian craftsmanship with fashion trends, Pomellato introduced the idea of ​​”prêt-à-porter” in jewelry, turning each piece into a style accessory, to be worn every day and not only. on special occasions.

Over the years, Pomellato has become an international luxury icon, conquering celebrities and discerning clients around the world with its unique and bold creations. The brand has managed to maintain a strong and distinctive identity, thanks also to the use of precious and semi-precious stones of vibrant colors, often set in innovative and contemporary designs.

A pivotal milestone in the brand’s growth was the company’s acquisition by luxury giant Kering in 2013, allowing Pomellato to expand its global presence while maintaining its deep Italian roots.

In 2020, Pomellato further consolidated its position in the high-end jewelry market with the acquisition of the historic jewelry company Valenza, a name renowned for its artisan tradition. This strategic move further strengthened the brand’s productive capabilities, ensuring direct control over the entire creative and manufacturing process, from the selection of stones to the making of jewelry. Valenza, located in the heart of the Italian jewelry district, is renowned for its mastery and precision in gold and precious stone work, making it an ideal partner for Pomellato.

Today, Pomellato continues to grow, exploring new frontiers of design and luxury, keeping alive the innovative and creative spirit that has characterized its history since its beginnings.

Conclusions

The month of July 2024 has offered interesting points and market dynamics that deserve careful reflection. From falling prices for natural diamonds to the growing popularity of lab-grown diamonds, the sector continues to evolve in unpredictable ways. We will continue to monitor these developments in the coming months, providing our readers with an in-depth and timely analysis of the market.
Stay tuned for more updates and analysis on the fascinating world of diamonds.

Fonte: https://auctentic.com/es/blog/noticias/actualizacion-mensual-del-mercado-de-diamantes-julio-2024