-

Rapaport Press Release: Diamond Market Stable but Cautious

1-carat RAPI down 23% in 2024

LAS VEGAS--(BUSINESS WIRE)--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.

RapNet Diamond Index (RAPI™)

Index

December

4Q 2024

2024

RAPI 0.30 ct.

1,047

1.0%

2.0%

-26.2%

RAPI 0.50 ct.

1,681

0.8%

0.3%

-15.1%

RAPI 1 ct.

4,600

-0.5%

-1.9%

-23.1%

RAPI 3 ct.

18,262

0.2%

-0.5%

-17.1%

© Copyright 2025, Rapaport USA Inc.

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.

Contacts

Rapaport Media Contacts: media@rapaport.com
US: Sherri Hendricks +1-702-893-9400
International: Avital Engelberg +1-718-521-4976

Industry:

Rapaport USA Inc.

Release Versions
English

Contacts

Rapaport Media Contacts: media@rapaport.com
US: Sherri Hendricks +1-702-893-9400
International: Avital Engelberg +1-718-521-4976

More News From Rapaport USA Inc.

Rapaport Press Release: Diamond Prices Continue to Recover

LAS VEGAS--(BUSINESS WIRE)--The diamond market showed further signs of recovery in March. The price stabilization trend that began in mid-February expanded to a wider range of categories, with price increases in round, 0.30- to 1.99-carat, D to G, IF to VS2 goods. Low, stable inventories were key to the improvements. The remaining categories saw mixed trends. The RapNet Diamond Index (RAPI™) for 1-carat goods — reflecting round, D to H, IF to VS2 diamonds — increased 1.4% in March. The most sig...

Rapaport Press Release: Rapaport to Host Sixth Trade Mission to Sierra Leone to Support Ethical Trade and Sustainable Economic Development

NEW YORK--(BUSINESS WIRE)--The Rapaport Group has announced its next Trade Mission to Sierra Leone, reinforcing its commitment to ethical trade and sustainable economic development. Rapaport’s fourth trade mission to Sierra Leone in the past two years, reflects a dedication to fostering responsible sourcing and long-term progress in the artisanal diamond sector. Sierra Leone: A Story of Resilience and Growth Sierra Leone, once infamous for its civil war—partially funded by so-called “Blood Diam...

Rapaport Press Release: Diamond Market Quiet as Prices Remain Stable

LAS VEGAS--(BUSINESS WIRE)--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...
Back to Newsroom