2/13/2025|news
Table of Contents
Welcome to our monthly column dedicated to the diamond market. Each month, we analyze the key industry trends, major events, and dynamics influencing demand, prices, and market strategies. With insights from reputable sources such as Rapaport News, IDEX, and others, we provide you with a comprehensive and up-to-date overview.
The diamond market had a sluggish start to the year, with holiday sales aligning with the sector’s moderate expectations. Prices continued to decline, with the RapNet Diamond Index (RAPI™) for 1-carat diamonds dropping by 2.3% in January. Smaller stones, such as 0.30-carat and 0.50-carat diamonds, experienced slight decreases of 0.4% and 0.6%, respectively, while 3-carat diamonds saw a 0.9% decline.
An interesting exception was large fancy diamonds (over 3 carats), which demonstrated greater resilience compared to other categories.
The rough diamond market also remains challenging. De Beers kept prices stable, but sales during the first trading cycle of the year were modest, reflecting a cautious approach from the company's buyers. On the regulatory front, the U.S. Customs and Border Protection (CBP) introduced new requirements for polished diamond importers, mandating the declaration of the country of origin. This measure could significantly impact the market, particularly in light of sanctions on Russian-origin diamonds.
International trade has been further complicated by escalating trade tensions between the United States, Canada, and Mexico, with potential tariffs on Canadian diamond imports. Meanwhile, the Chinese New Year failed to deliver the anticipated market boost, as demand remains weak, while the Indian market remains stable, supported by wedding-season purchases.
@Copyright 2025, Rapaport
Continued Pressure on Round and Fancy Diamond Prices: Round diamonds showed mixed performance, with declines ranging from 1% to 5% in high-quality categories (D-G, VVS1-VS1) for stones between 1.00 and 1.24 carats. However, larger diamonds (2.00 to 2.99 carats, D-G) saw price increases of 1% to 4%.
Fancy diamonds exhibited contradictory trends: while larger fancy cuts (5.00-5.99 carats, L-N, IF-VS2) experienced declines of up to 4%, certain categories (E, IF-VS1) recorded gains of 1.5% to 3%.
Agreement Between De Beers and the Botswana Government: In January, a significant agreement was signed between De Beers and the Botswana government, extending Debswana’s mining licenses beyond 2029. The partnership aims to strengthen the promotion of natural diamonds and solidify Botswana’s position as one of the world's leading suppliers of rough diamonds.
Challenges for the Manufacturing Sector: Manufacturing activity in India continues to operate below full capacity due to weak demand. Some companies are even shifting part of their production toward jewelry to compensate for the low demand for loose stones.
@Copyright 2025, Rapaport
2025 Begins with Remarkable Stories from the World of Jewelry and Diamonds, Where Luxury, Eccentricity, and Legends Intertwine in Fascinating Ways.
In India, GRT Jewellers has created something truly incredible (and highly impractical): the world’s heaviest gold earrings, weighing an astonishing 3.527 kg—the equivalent of a newborn baby!
These traditional earrings, known as jhumkas, are intricately decorated with 500 elephants each—an animal that symbolizes luck and prosperity in Indian culture.
Crafted from 22-karat gold, their base value exceeds $300,000, considering only the precious metal itself. However, this figure doesn’t account for the thousands of hours of meticulous craftsmanship involved. As a result, their actual worth could be significantly higher, influenced by factors such as the intricacy of the artisanal work, the uniqueness of the design, and official recognition by the Guinness World Records.
One thing is certain: these earrings, masterpieces of craftsmanship and tradition, seem far better suited for a museum display than an earlobe!
From the Indian city of Surat comes an unusual gift: a 4.3-carat synthetic diamond featuring the face of Donald Trump. Created by Greenlab, one of the leading producers of lab-grown diamonds, this unique piece is intended to symbolize the strong trade ties between India and the United States.
This isn’t the first time Greenlab has crafted iconic pieces—back in 2023, the company gifted a 7.5-carat diamond to First Lady Jill Biden. The "Trump Diamond," which took two months to produce, has been described as a "masterpiece" representing leadership and the significance of the U.S. market for India’s diamond industry. Whether Trump will appreciate this unusual tribute remains to be seen!
The diamond bracelet that Michael Jackson gifted to his close friend Elizabeth Taylor was recently auctioned by Woolley & Wallis in the UK for £118,750 (approximately $147,000), far exceeding its initial estimate of £50,000-£70,000.
This elegant line bracelet features 27 radiant-cut yellow diamonds, with the largest weighing 3.38 carats. Previously, in 2011, the bracelet was sold by Christie’s for $182,500 as part of Elizabeth Taylor’s renowned jewelry collection.
The true value of this piece lies in the story it tells — the deep friendship between two icons of music and cinema, marked by grand gestures and precious symbols. Jackson was known for his extravagant gifts to Taylor, including a monkey-shaped necklace adorned with diamonds, emeralds, and rubies. Their bond was unique: he called her "my queen," while she referred to him as "my treasure." They supported each other through difficult times, and Taylor publicly defended Jackson during his legal controversies.
As Elizabeth Taylor once said: "I see myself only as a custodian of my jewelry. When I die and they go to auction, I hope whoever acquires them gives them a happy new home." And so, this bracelet continues its journey, carrying not just diamonds, but fragments of one of Hollywood’s most extraordinary friendships.
In a landscape of global economic uncertainty, few luxury brands manage to achieve consistent growth and solidify their success. Pandora is one of them. The Danish jewelry giant closed 2024 with an operating profit of 4.15 billion Danish kroner, marking a 13% increase.
In the United States — Pandora’s most important market—sales rose by 9% in the last quarter of 2024, surpassing expectations despite the unstable economic climate. Meanwhile, in Europe, Pandora continues to shine without rival.
But what is the secret behind this brand’s success? Let’s find out.
It all began in 1982 in Copenhagen when jeweler Per Enevoldsen and his wife Winnie opened a small jewelry store selling imported pieces from Thailand. The business thrived, but the couple saw an opportunity for something new.
The turning point came in 1987 when they decided to create exclusive designs and hired their first designer. Two years later, in 1989, they opened a factory in Thailand to produce their jewelry in-house—cutting production costs while maintaining high quality. This strategic move transformed Pandora into a global phenomenon.
Today, Pandora is present in over 100 countries with more than 6,500 points of sale, making it the world’s largest jewelry producer by volume.
Even now, nearly all of its production remains in Thailand, where over 13,000 artisans hand-finish each piece, ensuring a consistently high standard of quality.
Pandora’s signature piece is its iconic charm bracelet — an idea that is both simple and brilliant. Each customer can choose different charms to tell their own story, creating a unique and personal piece of jewelry.
An anniversary? A memorable trip? A new beginning? There’s a charm for every emotion, every moment, every occasion. With over 800 different designs — ranging from classic silver to charms adorned with precious stones and colorful enamel — Pandora offers endless possibilities for self-expression.
This formula has made Pandora one of the jewelry brands with the highest customer loyalty in the industry—50% of Pandora’s customers return to make a purchase at least once a year. Charms are more than just accessories; they are small symbols that capture life’s special moments.
One of the best-selling charms of all time? The sparkling heart — a must-have for lovers.
One of Pandora's strengths is its ability to attract a young and dynamic clientele. The main target audience consists of women aged 18 to 34, seeking quality jewelry at affordable prices.
Pandora’s marketing strategies effectively reflect this demographic: their advertising campaigns primarily utilize Instagram and TikTok — two platforms beloved by young people — making the brand one of the most followed in the jewelry sector with over 12 million social media followers.
In 2023, Pandora launched a Harry Potter-inspired collection that went viral within days. In 2021, they permanently discontinued the use of gold and silver extracted from new mines, opting to use only recycled metals, a theme that resonates strongly with younger consumers.
Pandora manages to strike the perfect balance between luxury and accessibility by using 925 sterling silver, 14k gold, colorful enamels, and precious stones, including topaz, amethyst, and zircon.
In 2022, the brand made a revolutionary move by introducing lab-grown diamonds into its collections. This choice lowered costs and made luxury more accessible, further appealing to a young, sustainability-conscious audience.
In recent years, men have also been turning to Pandora, thanks to more minimal and sophisticated lines, such as the Pandora Reflexions collection, designed for those who appreciate an elegant and understated style.
While Pandora initially established itself with its iconic charm bracelets, the brand has since diversified its offerings, successfully capturing new market segments. In addition to charms, Pandora’s collections now include rings, necklaces, and earrings with refined designs, often inspired by romantic and natural themes.
Lines like Pandora Timeless, featuring elegant jewelry with sparkling stones, and Pandora ME, designed for a young and dynamic audience with customizable rings and necklaces, showcase the brand’s ability to adapt to contemporary trends and tastes. Furthermore, the launch of the Pandora Lab-Grown Diamonds collection marked a significant step in making fine jewelry more accessible, with synthetic diamonds taking center stage in modern designs available to everyone.
Pandora is not just a jewelry brand; it’s a cultural phenomenon. The brand has partnered with global celebrities and influencers, including Millie Bobby Brown (Stranger Things) and Addison Rae, a TikTok star with millions of followers.
These partnerships, combined with strong emotional storytelling, have made Pandora one of the most recognizable brands in the world.
Thanks to its strategy centered on personalization, accessibility, and innovation, Pandora continues to dominate the jewelry sector. For 2025, the company anticipates a growth of between 7% and 8%, solidifying its position as a leader.
But will Pandora rewrite the rules of jewelry for the new generations? Only time will tell, but one thing is certain: its success is far from fading anytime soon.
The start of 2025 thus confirms a complex scenario for the diamond market, marked by a general decline in prices, international trade tensions, and increasing competition from synthetic diamonds. However, strategic agreements like the one between De Beers and Botswana, along with strengthened traceability and promotional initiatives, could lay the groundwork for a recovery in the coming months.
Stay tuned for more updates and insights into the fascinating world of diamonds!