(IDEX Online) - An Indian farmer unearthed a "pebble" that turned out to be 14.98 carat diamond - that has now been sold at auction for over $80,000. Lakhan Yadav, 45, was prospecting last month on a rented patch of land in an area of the central Madhya Pradesh state known for its diamond deposits. He bought a motorbike with the pre-auction deposit he received from the local diamond...Read More
(IDEX Online) - Bahrain's stock exchange has signed a trade agreement with the Israel Diamond Exchange (IDE) following September's historic normalization of relations between the two countries. Officials from the Bahrain Bourse visited IDE, in Ramat Gan, to sign a memorandum of understanding (MOU) aimed at creating commercial opportunities, especially in commodity-based assets. &n...Read More
RAPAPORT... Pandora expects sales to weaken in December amid lower foot traffic due to Covid-19 restrictions and an earlier start to the holiday shopping period.The Danish jeweler began its festive shopping season earlier in November to manage social-distancing guidelines and the increase in online purchasing, it said Monday. "December trading is expected to be negatively impacted by these efforts...Read More
(IDEX Online) - A bracelet featuring a 43.10-carat royal blue Kashmir sapphire and a total of 67.90 carats of diamonds goes under the hammer at Christie's tomorrow with a high estimate of $7m.It's the lead item in the Magnificent Jewels sale in New York.The cushion-cut sapphire (pictured) has no indications of heating, according to the SSEF grading lab, and is aged at 21 million years.It...Read More
RAPAPORT... The organizers of the Hong Kong diamond and jewelry shows scheduled for March 2021 have pushed the events back to later in the year, citing continued travel restrictions.The Hong Kong International Diamond, Gem & Pearl Show, which was due to take place from March 1 to 5, and the Hong Kong International Jewellery Show - scheduled for March 3 to 7 - will now run concurrently fro...Read More
RAPAPORT... Lucapa Diamond Company has unearthed a 127-carat rough from the newly mined floodplain area of its Lulo deposit in Angola.The company found the gem-quality diamond in mining block 24 of the leziria floodplains, an area it began mining in the fourth quarter of the year, Lucapa CEO Stephen Wetherall told Rapaport News Monday. The miner started operations at the adjoining mining block 06...Read More
RAPAPORT... Diamond Foundry, one of the largest synthetics producers, has opened an international sales and distribution office in Dubai, citing the city's beneficial location and connections with diamond centers.The Silicon Valley-based company's new outpost will be within the Dubai Multi Commodities Centre (DMCC), a state-funded trading hub encompassing diamonds and other sectors. The openi...Read More
(IDEX Online) - Ten women designers have each created a limited edition of 10 affordable engagement rings, all using ethically and sustainably sourced diamonds from Botswana. They were challenged to re-design the iconic symbol of love for the Ten/Ten project, all using diamonds under a carat from De Beers. The 100 rings will be sold exclusively on Blue Nile from January.New York-based M...Read More
RAPAPORT... De Beers has launched a jewelry partnership with Blue Nile that challenges 10 designers to reimagine the traditional engagement ring.The Ten/Ten program will feature a provenance-based collection of 100 rings using ethically sourced diamonds from De Beers' Botswana operations, the companies said last week. Each of the 10 independent designers will create one design, using diamonds unde...Read More
RAPAPORT... De Beers intends to reintroduce sights in Botswana in the first quarter of 2021, enabling a more efficient sales process following months of viewings in scattered locations.The miner plans to offer sightholders the flexibility to attend sales in Gaborone or continue inspecting goods in markets such as Dubai, Paul Rowley, executive vice president of diamond trading at De Beers, tol...Read More
(IDEX Online) - The IDEX Polished Diamond Price Index remained virtually unchanged for a second consecutive month, suggesting a slowdown in the recovery. Month-on-month prices saw a slight drop after three months of growth. November saw the Index in slight overall decline, closing down 0.13 per cent at the end of the month. October also saw next to no movement, rising fractionally by just 0....Read More
(IDEX Online) - A guest on the Antiques Roadshow TV show was stunned to learn that a five-carat Van Cleef & Arpels diamond ring was worth up to six times the $20,000 she'd last had it valued at. The emerald-cut stone, estimated as an I color, is a platinum four-pronged setting, with two tapered baguettes, and come complete with accompanying paperwork from the French luxury jeweler. It is...Read More
(IDEX Online) - A high-profile legal battle over lab-grown diamond patents has been settled with both sides filing a joint motion to dismiss the case at a New York court.The Carnegie Institution of Washington, a science research organization, and M7D Corp, a manufacturer trading as WD Lab Grown Diamonds, which uses its patented technology, launched a civil action in January against Singapore-based...Read More
RAPAPORT... Diamond-industry leaders in India and Angola are discussing ways of deepening their trade relations as the African country seeks export destinations for its expanding rough production.Representatives from both nations held a virtual meeting last week about enhancing shipments and sales, India's Gem & Jewellery Export Promotion Council (GJEPC) said Friday."Angola is the third-l...Read More
RAPAPORT... The American Gem Trade Association (AGTA) has revealed the winners of its 2020 Spectrum Awards, covering a number of categories, including Best of Show and Bridal.This year, honors were also handed out in new categories, including Best of Single Entries, which is granted to those who submit only one entry, and Gem Diva, which was sponsored by the Women's Jewelry Association, honoring f...Read More
(IDEX Online) - A woman passenger flying from Dubai was caught smuggling diamonds worth almost $600,000 into Ukraine. Customs officers seized polished stones weighing over 50 grams yesterday at the Boryspil International Airport after a tip-off. The woman, a Ukrainian national, was found to have 38 small plastic bags of diamonds, sorted by size, according to UNIAN, the Ukrainian Independent Inform...Read More
(IDEX Online) - The largest gem-quality colored rough diamond ever recovered at Lulo, Angola, has been cut and polished into a 15.2-carat heart shape and two smaller stones.Trading reforms brought in by the country's government last year will allow mine operator Sociedade Mineira Do Lulo (SML) to seek higher prices than it would previously achieve at mine gate. Australian miner Luc...Read More
RAPAPORT... Zales has launched its first online marketplace, which will feature a rotating line of pieces by up-and-coming fine-jewelry designers from across the US.The Signet Jewelers-owned banner conducted a nationwide search for maverick designers that would appeal to consumers' love of unique, statement-making jewelry, it said Wednesday. Zales reached out to jewelry organizations and design sc...Read More
E-commerce driving sales at start of US holiday season. Black Friday online spending +22% to $9B, Cyber Monday +15% to $10.8B, reports Adobe Analytics. In-store shopping sluggish due to ongoing spread of Covid-19. Foot traffic -55% on Thanksgiving Day, according to NRF. Black Friday jewelry sales -54%, says RetailNext. Signet 3Q sales +9% to $1.3B, profit of $9.3M vs. loss of $36M. Cyberattack dis...Read More
RAPAPORT... The Israel Diamond Exchange (IDE) and the Bahrain Bourse have agreed to collaborate on trade following a recent peace deal between the Middle East countries.The two institutions signed a memorandum of understanding (MoU) at the IDE on Thursday calling for the exchange of information and the promotion of business relations, they said in separate statements the same day. The bourses...Read More