(IDEX Online) - Two pairs of unique jewel-encrusted glasses - one with emerald lenses, the other with diamonds - were withdrawn from sale by Sotheby's New York after both failed to reach their low estimate of $2.1m.They are believed to have belonged to members of the Mughal Empire, which ruled over the Indian subcontinent during the 17th century.There was surprise among experts, who had expec...Read More
RAPAPORT... US polished-diamond imports more than doubled to $1.79 billion in August from $821.1 million for the same month of 2020, according to recent data from the US Department of Commerce. Shipments have increased year on year for each of the six months through August amid a recovery from the Covid-19 downturn.US Trade Data for August 2021 Read More
RAPAPORT... India's polished-diamond exports increased 22% year on year to $1.91 billion in September, with growth continuing but at a slower pace than in previous months. Shipments increased 7% by volume, while the average price rose 14%, according to recent data from the country's Gem & Jewellery Export Promotion Council (GJEPC).India Trade Data for September 2021 Read More
RAPAPORT... Graff has become the victim of a cyberattack, with criminals gaining access to personal data belonging to some of the luxury jeweler's clients.Outsiders leaked 69,000 confidential documents, including files related to celebrities and world leaders, The Mail on Sunday reported. Russian hacking gang Conti is behind the theft and is demanding "millions of pounds" in ransom money, the...Read More
October was a busier month, with more price drops than we have seen of late.RoundsRounds over 0.50-ct saw more movement than in past weeks, especially D-H colors. Among goods up to 1.24-ct and over 3.0-ct almost all movements were downwards. Among 1.25-ct -1.49-ct and 2.00-ct-2.99-ct there was an even mix. 1.50-ct-1.99-ct was the only size category where prices rises dominated.HIGHLIGHTED CHA...Read More
(IDEX Online) - A struggling jeweler has been jailed for three-and-a-half years in Hong Kong after being found guilty of conspiring to defraud insurers out of $320,000.Leung Yim-kwan, 41, arranged to pay a criminal accomplice to disappear with a suitcase of gems last April, then called police to say there had been a robbery.She told the District Court she fell into debt after the pandemic struck,...Read More
(IDEX Online) - China's production of lab grown diamonds is down by as much as 15 per cent as the country battles a desperate shortage of electricity.A reduction in output by the world's largest lab grown producer could bump up prices in the weeks before Christmas.China is responsible for around 3m carats a year of the 7m carats lab growns produced globally in a year.But the power-hungry...Read More
RAPAPORT... Two headpieces believed to have belonged to Empress Jos?(C)phine Bonaparte of France are set to go on sale at Sotheby's after spending the last 150 years in a private collection.The tiaras, made in Paris in 1808, are expected to fetch up to GBP 500,000 ($684,629) combined at the December 7 London Treasures sale, the auction house said last week. Each headpiece is part of a parure - a s...Read More
RAPAPORT... The industry continued to downsize in the US in the third quarter, according to the latest data from the Jewelers Board of Trade (JBT).Some 113 businesses exited the sector during the three months ending September 30, compared with 101 in the same period a year earlier, the figures showed Friday. In total, the number of companies active in the US industry fell 1.9% year on year to...Read More
(IDEX Online) - Observers for the Kimberley Process (KP) have drawn up four key demands to end the ongoing flow of conflict diamonds.They say the certification scheme, which was established in 2003, has been deadlocked for over a decade as member countries fail to agree on adapting to current challenges.The Kimberley Process Civil Society Coalition, which acts as an observer for KP, says diamond m...Read More
RAPAPORT... A 10.90-carat diamond will star as the centerpiece of the upcoming jewelry sale at Skinner Auctioneers.The emerald-cut, J-color, VS1-clarity diamond ring is estimated to fetch up to $250,000 at the November 16 Important Jewelry auction, the US-based company said last week. A ring with a pear-shaped, 6.20-carat solitaire diamond, flanked by tapered baguette diamonds, will also go under...Read More
(IDEX Online) - Hackers are holding the exclusive London jeweler Graff to ransom after stealing confidential data on tens of thousands of super-wealthy clients.A report in The Mail on Sunday (MoS) today says details of buyers and their purchases could cause huge embarrassment to customers who bought gifts for secret lovers or had received jewelry as a bribe.Graff has become a go-to jeweler fo...Read More
RAPAPORT... Breitling's majority owner has sold off part of the business and indicated it might list the luxury Swiss watch brand on a stock exchange.Partners Group, a global private investment firm, has acquired a "significant minority stake" in Breitling from CVC Capital Partners Fund V1, the companies said last week. "We look forward to working closely with [Partners Group] to continue to...Read More
RAPAPORT... Gem Diamonds' revenue dropped in the third quarter as the miner sold fewer high-value stones from its lucrative Let??eng deposit in Lesotho.Sales came to $47.3 million for the three months ending September 30, the company reported Thursday - a 22% decline from a year earlier. The average selling price decreased 28% to $1,589 per carat.While prices were robust on a like-for-like ba...Read More
(IDEX Online) - A British retiree who almost binned an item of worthless "costume jewelry" was stunned to find it was actually a genuine 34-ct diamond, worth up to $2.75m.The unnamed 70-year-old was clearing her house and took it to be valued, along with other pieces she'd picked up over the years, at swap meets. She had no idea where she bought it or how much she paid.Featonby's Auction...Read More
Indian suppliers filling final orders ahead of Diwali break. Manufacturing slowing before the festival with factories closing from Nov. 4 to 22. Robust US jewelry sales stimulating diamond trade. High expectations for the holiday season. De Beers research shows sustainability ranks alongside price and design in consumer considerations when buying jewelry; Insight Report estimates 2020 global rough...Read More
RAPAPORT... What connects the engagements of actress Meghan Markle, model Emily Ratajkowski and singer Ariana Grande? One answer lies in the rings they received: All three featured fancy-cut diamonds. The UK's Prince Harry gave Markle a cushion-shaped center stone when he proposed in 2017, while Ratajkowski showed off both a princess and a pear cut in 2018. Grande's 2020 betrothal gift contai...Read More
RAPAPORT... US holiday spending will "shatter" previous records as consumers dip into their sizable savings, the National Retail Federation (NRF) has forecast.Retail sales in November and December will advance 8.5% to 10.5% year on year, for a total of between $843.4 billion and $859 billion, the organization predicted Wednesday. The average increase over the past five years was 4.4%, while s...Read More
RAPAPORT... Rio Tinto achieved record-breaking figures at its 2021 Argyle Pink Diamonds Tender, with prices strong amid dwindling supply from the mine.The Australian miner offered 70 rare pink and red diamonds at the last-ever edition of the tender, which follows Argyle's closure in November 2020. The "historical" collection, called The Journey Beyond, comprised the final diamonds mined durin...Read More
(IDEX Online) - Thieves targeting passengers on a train in India discarded diamonds worth over $11,000 as fakes, say police.The stole purses containing the valuables from two women traveling on the Howrah-Mumbai Gitanjali Express near Gondia, in Maharashtra state, according to The Times of India. "They melted the stolen gold ornaments and sold them to a goldsmith," investigation officer Pravi...Read More