DiamondBuzz

Diamond industry operated amid uncertainty due to tariff negotiations between the U.S. and India

Published

1 year ago

May 7, 2025

Diamond prices rose sharply at the beginning of April in response to announcements of new U.S. import tariffs, and then stabilized later in the month when the U.S. delayed the tariffs by 90 days.

The RapNet Diamond Index (RAPI™) for 1-carat goods edged up 0.7% during the month. The index for 0.30-carat diamonds continued to strengthen, rising 2.8% in April and 13.2% since the beginning of the year. The 0.50-carat RAPI increased 0.6%, while 3-carat stones saw a minor decline of 0.3%. VVS collection goods of 0.30 carats performed well due to increased Indian demand and a slight improvement in China.

The industry operated amid unprecedented uncertainty due to the continuing tariff negotiations between the U.S. and India, respectively the world’s largest diamond-consuming and -manufacturing countries. Trading slowed in centers outside the U.S. However, business within the U.S. was steady and prices rose, reflecting part of the expected tariff costs. The market is closely monitoring end-consumer reactions.

U.S. inventories are elevated, as American traders purchased goods before the tariffs’ anticipated start date, and global trading centers — especially Indian exporters — shipped popular goods to the U.S. Diamond imports to the U.S. are now experiencing a slowdown. Elongated fancy shapes saw strong demand in April, both internationally and in the U.S.

Diamond and jewelry retailers are finishing preparations for Mother’s Day on May 11, one of the key U.S. sales holidays. A survey by the National Retail Federation (NRF) projected that consumer spending on jewelry would be slightly lower than last year.

The rough market was quieter than in March, which was a particularly active period. Anglo American predicts that its customers will remain cautious about buying rough amid the ongoing macroeconomic uncertainty and the impact of U.S. tariffs. De Beers’ sales slid 44% year on year in the first quarter to $520 million as slow demand and a buildup of polished inventory led the midstream to restock more slowly.

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DiamondBuzz

Final Sale Of The Season: High Jewelry Auction In New York

Culminates A Global De Beers X Sotheby’s Collaboration Series, Following Hong Kong and Geneva

Published

23 hours ago

June 23, 2026

JewelBuzz Spread The Buzz

Sotheby’s and De Beers conclude their 2026 international auction collaboration in New York, following acclaimed presentations and strong results in Hong Kong and Geneva. The final sale presents a tightly curated group of exceptional natural diamonds, reflecting a year defined by rarity, craftsmanship and provenance.

The New York auction marks the culmination of a cross-continental journey, with momentum building at each stage as collectors responded confidently to these exceptional natural diamonds. Here, in New York, diamonds intersect with modern identity, creativity and personal storytelling. Buyers will have the opportunity to acquire two pear-shaped, D-color diamond rings, alongside a magnificent 11.33-carat, old-mine brilliant-cut D-color, Type IIa diamond.

Diamonds are not simply precious objects, but carriers of cultural meaning. Formed billions of years ago, they embody geological history while accruing layers of human narrative—as symbols of love, empowerment and identity. Across each stop from Asia to Europe to the United States, the auctions have highlighted how diamonds continue to evolve as cultural artefacts, shaped by craftsmanship, heritage and contemporary self-expression.

In Hong Kong, diamonds are deeply rooted in traditions of trade, symbolism and philosophy. The sale featured a 3.03-carat pear-shaped diamond ring and a pair of brilliant-cut diamond earrings totaling 4.01 carats. The highlight was the extraordinary De Beers Jwaneng 28.8—a 28.88-carat brilliant-cut, D-color, flawless, Type IIa diamond.

In Geneva, the conversation shifted to connoisseurship and the culture of collecting. Notable stones included a 1.10-carat light pink oval-cut diamond, a 1.06-carat very light pink diamond, and a perfectly matched pair of brilliant-round diamonds, each weighing 18.38 carats—one D-color, flawless, and the other internally flawless.

This evolving cultural lens is mirrored in shifting patterns of ownership. Increasingly, collectors are acquiring diamonds not only as adornment or investment, but as expressions of individuality. Nearly half of global diamond purchases are now made by women for themselves, signalling a broader redefinition of value—rooted in independence, self-purchase and personal significance.

To further extend the impact of the auctions, Peace Parks will receive part of the proceeds, highlighting how natural diamonds can help contribute meaningfully to the landscapes and communities from which they originate.

As the season closes, diamonds continue to bridge deep history and contemporary culture, reaffirming their place as natural masterpieces and enduring symbols.