(IDEX Online) - A "unique" collection of three Argyle diamonds - a pink, a red, and a violet stone - has been sold to a buyer in the US.Diamond Cutters International described it as "a multi-million dollar collection" but would not disclose the price paid by a collector from Houston, Texas.The so-called Millennia Collection (pictured) comprises:The Millennia Red, a 0.55-ct vs2- c...Read More
Dealers return from Las Vegas optimistic for holiday season. Good orders at JCK, Luxury, Antique and Couture shows signal positive sentiment among US independents. Major retailers did not attend but are seeing momentum online and in-store. Signet Jewelers 2Q revenue +101% to $1.8B, profit of $225M vs. loss of $82M a year earlier. Chow Sang Sang 1H sales +69% to $1.4B. Sustainability emerges as key...Read More
RAPAPORT... The traditionally slow summer felt like a distant memory this year. Instead, summer 2021 will be remembered for a sales surge in the wake of the pandemic.New York: Resuming client visits"After six months of almost no sales, September 2020 was one of the best we ever had," said Aron Suna, president of New York jewelry manufacturer Suna Bros. Since September, his sales have been "ve...Read More
RAPAPORT... Brilliant Earth, which specializes in selling ethically sourced diamonds and jewelry, has announced plans to become a public company on the Nasdaq stock exchange."There is a massive growth opportunity ahead," the online-focused US retailer said Monday in its initial public offering (IPO) filing. "We are less than 1% penetrated in the jewelry category today. With our purpose-driven bran...Read More
RAPAPORT... Lab-grown diamonds offer a traceable, conflict-free, socially responsible jewelry option. Consumer opinion has shifted to value corporate social responsibility, with transparency and environmental issues being at the core. Millennials and Generation Z seek products and companies that improve society, and lab-grown diamonds offer a safe alternative for those who are concerned about...Read More
(IDEX Online) - Brilliant Earth, the US-based "ethical jeweler", is going public with an IPO initially set at $100m, it announced on Monday.It follows a leap in sales of almost 45 percent, to $163m in the first half of this year.The digital-first company was founded by Beth Gerstein and Eric Grossberg in San Francisco in 2005.Gerstein had failed to find ethically-produced engagement ring. She and...Read More
RAPAPORT... Losses widened at diamond miner Diamcor during the first fiscal quarter as operations remained limited during South Africa's Covid-19 outbreak.The company incurred a net loss of CAD 844,899 ($670,737) in the three months ending June 30, compared with a loss of CAD 744,487 ($591,073) a year earlier, it reported Monday. This reflected an increase in costs, which outweighed a rise in...Read More
RAPAPORT... Bonhams will sell a Belle ??poque aquamarine and diamond brooch that belonged to Deborah Mitford, the duchess of Devonshire, at its London Jewels sale next month.The piece, which dates back to 1905, features a large, oval-cut aquamarine surrounded by old-brilliant and single-cut diamonds, suspending a detachable aquamarine drop. It is expected to fetch $34,000 to $48,000 at the Se...Read More
(IDEX Online) - There was a raft of price rises among low-clarity 3.00-3.99 ct rounds and clusters of drops in some smaller goods during August. Little movement for fancies. Price drops dominate in round goods under 0.90-ct but there are some significant rises among larger stones. The most notable is in 3.00-3.99 ct, where there were price rises among virtually all goods F-N / I1-I3. T...Read More
RAPAPORT... BlueRock Diamonds garnered $1.1 million from the sale of three rough stones at its August tender, achieving its highest per-carat prices all year.The miner sold the biggest of the stones, weighing 58.6 carats, for $585,000, or $10,000 per carat, it said Tuesday. That diamond was the largest BlueRock has ever recovered from its Kareevlei mine in South Africa.Meanwhile, the company also...Read More
RAPAPORT... Hong Kong's hard-luxury market saw its weakest growth figure for six months as the retail sector's rebound ran out of steam amid a lack of tourism.Revenue from jewelry, watches, clocks and valuable gifts grew 27% year on year to HKD 3.2 billion ($410.6 million) in July but was still 42% lower than in the same month of 2019, the municipality's Census and Statistics Department repor...Read More
RAPAPORT... Four US jewelry retailers weigh in on whether their clients are concerned about products' sustainable origins.Cathy Calhoun (pictured, top left)owner, Calhoun JewelersRoyersford, Pennsylvania"It's hardly an issue for me here in Royersford, but I opened Calhoun Estate Jewelers in Carmel by the Sea in California, and it is an issue out there. Since it's estate jewelry, I present it...Read More
(IDEX Online) - American rapper and actress Cardi B was weighed down with carats when she appeared on stage with an estimated $2.5m of bling.The 28-year-old wore dozens of dazzling high-end pieces for her performance at the annual Summer Jam hip-hop and R&B fest at the MetLife Stadium, New York.The most valuable single item was a 20-carat heart-shaped diamond ring from her husband Offset, also...Read More
RAPAPORT... As the Las Vegas diamond and jewelry shows ended on Monday, mask-clad vendors expressed satisfaction with the amount of business they'd conducted during the past week."I'm so glad I came," said Mishael Vardi, owner of Israel-based VMK Diamonds, a supplier of fancy-color diamonds. "I met a lot of people, and those people came to do business." There were serious buyers, added a New...Read More
RAPAPORT... A diamond ring garnered nearly triple its high estimate following a bidding frenzy at a recent Fellows auction.The old-cut, 4.86-carat diamond ring fetched GBP 16,588 ($22,705) at the August 26 jewelry sale, beating its upper valuation of GBP 6,000 ($8,213). That price is one of the highest ever achieved for a single item of jewelry in a timed, online-only sale at UK-based Fellows...Read More
(IDEX Online) - Bluerock's largest ever rough gem from its Kareevlei mine in South Africa has sold for $585,000.The 58.6-carat stone is a D-color makeable (pictured) - colorless but with spotted black sulphide intrusions.The London-based AIM-listed miner also sold a 21.6-carat stone for $268,000. A 14.3-carat stone fetched $236,000 - setting a company record this year at $16,500 per carat.The...Read More
(IDEX Online) - Alrosa is set to pay out record dividends to shareholders this year after a swift recovery from the pandemic.The Russian miner is proposing an allocation of RUB 64.7bn ($880m) for H1 2021, equal to its entire free cash flow.It says it expects an even higher allocation in H2, which could bring the annual total for 2021 to as much as RUB 135bn ($1.84bn).The H2 2020 dividends amounted...Read More
(IDEX Online) - Authorities in Angola have seized almost 2,500 diamonds from illegal buyers as part of a long-running crackdown on illicit gem trafficking.They launched Operation Transparency in December 2018, targeting the eastern Lunda Norte province, where there are an estimated 700 illegal mining sites.The country's Criminal Investigation Service (SIC) seized 2,477 diamonds, plus cash equ...Read More
RAPAPORT... Trust, reputation, integrity - these words are central to the diamond trade. "Our business is like no other in that we've always conducted it on a handshake," says Maximo Quinones, president and CEO of wholesaler DVG Diamonds in Miami, Florida.But these lofty ideals have also been tested, especially regarding the sale and use of conflict diamonds. In 2003, the Kimberley Process (K...Read More
RAPAPORT... The Jewelers Board of Trade (JBT) has launched an automated service enabling select members to protect their memo goods at a fraction of the usual price.The new offering helps businesses carry out a Uniform Commercial Code (UCC) filing - a legal document declaring that goods on consignment to a customer are the property of the supplier. This lets the company recover the merchandis...Read More