RAPAPORT... India has recorded its third consecutive monthly rise in polished-diamond exports, with shipments increasing 9% year on year to $1.8 billion in January. That followed gains of 42% in November and 38% in December, reflecting a release of pent-up demand ahead of the US and Chinese holidays, as well as post-festival restocking. Rough imports jumped amid strong demand at Alrosa and De...Read More
RAPAPORT... Diamond and jewelry companies are accelerating their adoption of technology to bring greater efficiency to the market. As a result, innovation by businesses across all sectors of the pipeline is influencing the wider industry. The fifth installment of Rapaport's podcast series, "Technology and the Diamond Trade," sponsored by Sarine Technologies, features four companies that are m...Read More
(IDEX Online) - A fintech startup will tomorrow launch standardized diamond "coins" for investors in a move which could "reinvent the supply chain".Diamond Standard, based in Bermuda, will offer the first 5,000 diamond standard coins, each containing "a set of certified natural diamonds with identical geological scarcity" weighing 4.5 carats and to the exact value of $5,000.Each coin (pictured) al...Read More
(IDEX Online) - Prices of fancy color diamonds fell marginally for a second consecutive quarter says the Fancy Color Research Foundation (FCRF).Blue gems were down year-on-year by 1.3 per cent, pinks 0.9 per cent and yellows 0.3 per cent in Q4 of 2020.The New York-based FCRF) has produced was unable to produce figures for Q1 and Q2 of the year, because business was too slow to provide sufficient d...Read More
(IDEX Online) - Alrosa sold $10m of rough at its first 2020 auction of special-size stones.The Russian state-owned miner described demand as "stable", although almost 20 per cent of lots weren't sold.It said it had buyers for 104 stones, all over 10.8 carats, with a combined weight of over 1,500 carats.Last week Alrosa reported total rough and polished sales of $430m for January, up six per c...Read More
RAPAPORT... Prices of fancy-color diamonds slipped marginally in the fourth quarter of 2020 as stability in the yellow category helped the sector stave off a heavier slump, according to the Fancy Color Research Foundation (FCRF)."Although 2020 was challenging in terms of logistics and travel, contrary to market expectations, fancy-color diamond prices proved to be resilient, with minor price decre...Read More
RAPAPORT... Angola's state-owned diamond company, Endiama, has signed a joint-venture agreement with trade and investment group Gemcorp to develop the Mulepe diamond deposit.The site, located in the Lunda Norte region of the country, contains significant kimberlite and alluvial deposits, Gemcorp said last week. The companies plan to set up a pilot mining program for Mulepe during 2021 to enable in...Read More
RAPAPORT... Revenue and earnings rose at Titan Company in the third fiscal quarter as the Indian jewelry retailer saw a recovery in consumer demand during the important Diwali period.Sales climbed 17% year on year to INR 76.59 billion ($1.06 billion) in the three months ending December 31, including at subsidiaries, the company reported last week. Profit increased 12% to INR 5.3 billion ($73...Read More
(IDEX Online) - India exported $1.8bn of polished diamonds in January, up 9.4 per cent year-on-year.The recent surge comes after foreign sales fell overall throughout most of 2020. Provisional export figures for April 2020 to January 2021 were down 23 per cent on the same period a year earlier, according to newly-released figures from the GJEPC (Gem and Jewellery Export Promotion Council).Gol...Read More
(IDEX Online) - An extremely rare 3.05-carat Type IIa Goloconda diamond could fetch $200,000 at auction in New York.The diamond, set in a ring (pictured) being auctioned is a Pear-Shaped D/IF from a respected New York estate, says the Fortuna Auction House.India's Goloconda mines were famed for the Koh-i-Noor and other diamonds of remarkable quality, whiteness and clarity, but ceased producti...Read More
(IDEX Online) - A British jeweler has created a sapphire and ruby engagement ring that looks just like Haribo's gummi candy. It's based on the edible friendship ring, a kids' favorite, although at $35,000 it's about 1.25m times the price.London-based Taylor and Hart launched the ring in time for Valentine's Day. They said the statement piece "harks back to an age of f...Read More
RAPAPORT... Industry leader Jose Hess died on Tuesday at the age of 87, according to the World Jewellery Confederation (CIBJO), the organization he headed in the late 1990s.Hess passed away peacefully in his home in St. Augustine, Florida, CIBJO said in a statement Wednesday. He was distinguished for his life journey from Nazi Germany to the New York jewelry district via South America, as wel...Read More
RAPAPORT... Three weeks in March 2020 underscored how fast the situation could change during Covid-19. On the third of the month, JCK announced that its annual Las Vegas shows would take place as usual in late May and early June, despite the outbreak. On the 17th of the month, it called them off.What happened in between was unprecedented. The World Health Organization (WHO) declared the novel...Read More
(IDEX Online) - Two senior citizens had jewelry worth hundreds of thousands of dollars stolen in a terrifying armed carjacking.Their van was hit in the back by the perpetrators' car as they drove to a Sunday morning swap meet in Honolulu, Hawaii, USA.The 75-year-old driver said an armed man wearing a ski mask smashed the side window, pulled him out, pointed a gun at him and demanded the key.T...Read More
(IDEX Online) - When it comes to a wedding proposal, it seems the engagement ring is actually more important than a "yes".Just over half (51 per cent) of the 2,000 engaged Americans surveyed for De Beers said the ring was number one concern.Bizarrely, only 17 per cent said their top priority was that their partner should accept the proposal.Pictures of the proposal - during and afterward - were th...Read More
Slower trading as Far East markets close for Feb. 12 Chinese New Year. High hopes for China retail recovery during the season. Global jewelry sales -15% in 2020 after swift 4Q rebound with US +5% to +10%, China +15% to +20%, according to Bain report. US demand stable. Large volume of goods on short-term memo since travel restrictions are limiting in-person sales. Alrosa confirms strong Jan. rough...Read More
(IDEX Online) - A 23.58-ct fancy yellow diamond, set in a platinum and gold ring fetched $325,000 in an online auction by Christie's New York.The price was above the high estimate of $300,000 in the Christie's Jewels Online that closed yesterday and achieved a total of $2,703,750.The top lot featured a cut-cornered rectangular modified brilliant-cut diamond natural color yellow diamond,...Read More
(IDEX Online) - BlueRock Diamonds says its Kareevlei mine, in South Africa, has a 10-year life after an updated resource statement indicated a a 53 per cent increase in net carats.The UK-based miner now says mine should yield 516,200 carats, compared to a 2018 estimate of 337,018 carats.It provides detailed breakdown of the five known diamondiferous kimberlite pipes (KVW01-5) at its deposit....Read More
RAPAPORT... Sapphires are the most desired colored gemstone among US consumers, followed by rubies, emeralds and amethysts, according to a recent survey by MVI Marketing. Some 46% bought fine jewelry featuring sapphire in the past two years, the study found. Ruby and emerald each attracted 41%, with 35% buying amethyst. Overall, 93% said they "loved" or "liked" all precious colored gemstones....Read More
RAPAPORT... A 23.58-carat diamond ring was the top lot at Christie's Jewels Online sale, fetching well above its high estimate.The piece, which featured a cut-cornered rectangular modified brilliant-cut, fancy-yellow, SI1-clarity stone, bracketed by two triangular-cut diamonds, brought in $325,000 against its $300,000 upper estimate, Christie's said Wednesday. In total, the auction running from Ja...Read More