Prices of Smaller Diamonds Decline as Inventories Grow

1-carat RAPI down 0.9% in October; 0.30-carat slides 5.5%

NEW YORK, Nov. 03, 2026 (GLOBE NEWSWIRE) -- Diamond prices declined in October as inventories rose in categories that had seen strong gains earlier this year.

The Rapaport Trade Diamond Index (RAPI™), which tracks asking prices for round, D-H, IF-VS2 goods, fell 5.5% for 0.30-carat diamonds and 2.3% for 0.50-carat goods after peaking in late September. The 1-carat index dropped 0.9%, and the 3-carat index rose 0.9%. The 0.30-carat index is still up 8.8% for the year to date.

The number of 0.30-carat rounds in RAPI qualities on Rapaport Trade grew 165% between June 1 and November 1. There were similar but less-sharp trends in 0.40 to 0.99-carat rounds. Prices for these ranges came under pressure as inventory rose.

The supply increase reflected two possible factors. Manufacturers had ramped up production of those sizes in response to the recovery that took place between April and September. In addition, the rise in certified 0.30-carat diamonds may have been due to some cutters getting grading reports for that size again after skipping certification when prices were lower.

Demand for 1-carat diamonds was stable to soft, while 2-carat-plus goods held steady. The recent price declines in ovals eased as supply fell.

Rough demand slowed as Indian factories prepared to close for 15 to 30 days over the Diwali festival, which occurs November 8. Sales at De Beers’ October sight were low as a result, and because sightholders had brought purchases forward when the miner reduced prices in July. The pause will enable manufacturers to rebalance their stocks.

The industry focused on the impending sale of Anglo American’s 85% stake in De Beers, with Signet Jewelers and Richemont in talks to join former De Beers CEO Gareth Penny’s consortium to bid on the company. Observers expect a deal announcement in the coming weeks.

Luxury jewelry brands continued to outpace the diamond trade, with LVMH and Kering reporting strong third-quarter figures for their jewelry segments. The attention now turns to the Thanksgiving weekend and the holiday season.

Media contact: pr@rapaport.com

About the Rapaport Trade Diamond Index (RAPI™): The RAPI is the average asking price 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 Rapaport Trade® (formerly RapNet) at rapaport.com/trade. Additional information is available at rapaport.com.

About the Rapaport Group: The Rapaport Group includes Rapaport News, which delivers industry-leading content across digital platforms, including news coverage, interviews, editorial features, original storytelling, and branded content initiatives; Rapaport Intelligence, which provides in-depth research on the global diamond and colored-gemstone markets, including demand and pricing trends and the benchmark diamond Price List; Rapaport Trade (formerly RapNet), the world’s largest online diamond- and gemstone-trading marketplace, with over $8 billion in daily diamond, gem and jewelry listings; and Rapaport Auctions, the world’s largest recycler of diamonds.

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Rapaport Trade Diamond Index (RAPI) -Table

Rapaport Trade Diamond Index (RAPI) -Table

Rapaport Trade Diamond Index (RAPI) -Graph

Rapaport Trade Diamond Index (RAPI) -Graph