(IDEX Online) - A rare 6.70-carat VS1 natural fancy deep yellow diamond from the famous Zimmi mine, in Sierra Leone, could fetch as much as $705,000 at auction.Canary yellow diamonds from Zimmi can command double the price of other fancy yellows because of their uniquely high color saturation levels. Yellow Zimmi stones over five carats are extremely rare. This gem (pictured) will lead the Ti...Read More
(IDEX Online) - The Damtshaa mine, in Botswana, will reportedly close for three years as COVID-19 disruption and the consequent weak demand renders it unviable.The Debswana-operated deposit produces around 500,000-carats annually of lower-value diamonds - just 2.5 per cent of the country's total output.Joseph Tsimako, president of the Botswana Mine Workers Union told the Reuters news agency o...Read More
(IDEX Online) - Louis Vuitton has struck a deal to cut and polish a second giant diamond for Canadian miner Lucara. The 549-carat Sethunya (pictured) was recovered from the Karowe mine, Botswana, in February. It is the fourth largest stone ever found in the country. The agreement with the French fashion and luxury house follows a deal to cut an even bigger stone from the same mine - th...Read More
(IDEX Online) - Israel's diamond tech firm Sarine is to open a rough diamond scanning centre in Dubai, following the historic normalization agreement with UAE.It will be operated by the diamond service provider Trigem DMCC under license from Galatea, a wholly-owned subsidiary of Sarine. Both sides will split the per carat service fees will be split.Sarine said it recognized that Dubai is now...Read More
RAPAPORT... Lucara Diamond Corp. has sold a 549-carat diamond to Louis Vuitton through a partnership that will see the luxury retailer craft bespoke pieces to match client requests. "In line with their long tradition of personalization, Louis Vuitton envisages...the ultimate personalized high-jewelry experience, and the opportunity to create a truly unique gem, a storied family heirloom," Lucara s...Read More
RAPAPORT... Mountain Province's revenue fell 14% year on year to CAD 47.3 million ($36.1 million) in the third quarter as Covid-19 limited the miner's ability to sell rough.The company held only one standard sale during the three months ending September 30, compared with two or three during a usual quarter, it reported Wednesday. Its revenue for the period came from that tender in Antwerp, as...Read More
(IDEX Online) - Specialty jewelers' sales in the US have rebounded dramatically after the Covid-19 disaster of March, April and May, according to IDEX Research estimates. The turn-around came in early summer as those retail merchants were able to re-open their stores. Specialty jewelers' sales finally showed positive year-to-year comparisons in both August and September. ...Read More
RAPAPORT... Sarine Technologies will launch a diamond-scanning center in Dubai following Israel's peace deal with the United Arab Emirates (UAE).The Israel-headquartered company will partner with Trigem, a Dubai-based provider of services to the diamond industry, which will operate the center under license from Sarine. Members of the trade will be able to use Sarine's Galaxy inclusion-mapping...Read More
High voter turnout as US election reflects divided country. Rising expectations for holidays despite American election uncertainty and second round of Covid-19 lockdowns. Consumer spending expected to be in line with last year. Jewelers begin seasonal promotions early, with emphasis on e-commerce. Polished prices stabilizing as buyers complete holiday orders. 1 ct. RAPI +1% in Oct. Rough trading s...Read More
RAPAPORT... The board of the Israel Diamond Institute (IDI) has elected Yoram Dvash for a three-year term as chairman, it said Wednesday.Dvash, who announced he was stepping down as president of the Israel Diamond Exchange (IDE) last week, will succeed Boaz Moldawsky, who resigned a week ago.Although Dvash had planned to focus on his leadership position at the World Federation of Diamond Bourses (...Read More
(IDEX Online) - An Indian farm laborer has unearthed a 14.95-carat gem-quality diamond valued at a life-changing $80,000. Lakhan Yadav was washing gravel in Madhya Pradesh district, an area rich in government-licensed artisanal mines.The stone will now be auctioned by the local diamond office and Mr Yadav will receive the proceeds, minus a 12.5 per cent tax.In the same week another farmer, di...Read More
(IDEX Online) - Canadian miner Mountain Province Diamonds sold 559,528 carats of rough at the second sale since its Gahcho Kue mine was hit by the lockdown in February.Total proceeds from the tender in Antwerp were $34.3m - an average of $61 per carat, indicating an encouraging recovery in global demand.The figure is significantly higher than its first post-lockdown sale last month, which averaged...Read More
(IDEX Online) - Joan Collins, the British stage and screen icon best known as Alexis Carrington Colby in the US 80s soap Dynasty, is selling a selection of her jewels.A necklace featuring over 60 carats of diamonds will lead the auction at Bonham's in London, where it is expected to fetch between $65,000 and $91,000.It has a graduated series of brilliant and marquise-cut diamonds, and a scrol...Read More
RAPAPORT... Pandora has warned that fresh coronavirus-related restrictions could dampen the jeweler's holiday sales and put the brakes on its steady recovery.The Danish retailer has maintained its financial guidance for the year due to market uncertainty, but "the recent lockdowns and potential further Covid-19 escalation represent a clear downside risk," the company said Tuesday.Pandora is r...Read More
RAPAPORT... Gail Goldberg will take the helm of the Canadian Jewellers Association (CJA) following the election of the trade body's new board of directors.Goldberg, who will succeed Marco Miserendino as chair, will take over for the 2020-to-2022 term, CJA said Tuesday. The owner of Custom Creations by GG, Goldberg previously served as first vice chair of the CJA board, president of the Jewelers Vi...Read More
(IDEX Online) - Lightbox, the lab-grown division of De Beers, has opened a vast factory in the USA that will allow it to produce 200,000 carats a year.It has also announced that its lab-grown diamonds will be sold as fashion jewlery by the online retailer Blue Nile - the first time it has sold lab-growns - as well as on Lighbox's own website.Lightbox's manufacturing operation (pict...Read More
RAPAPORT PRESS RELEASE, November 3, 2020, Las Vegas... The diamond market continued to improve in October as holiday orders picked up. Supply shortages helped buoy prices of 1-carat and larger stones. However, the positive sentiment of the previous month weakened due to a rise in global Covid-19 cases and uncertainty surrounding the US election. The RapNet Diamond Index (RAPI?,,?) for 1-carat poli...Read More
RAPAPORT... Chow Tai Fook is launching its own diamond certificates based on artificial intelligence, using a new grading scale featuring numbers instead of letters.The Chow Tai Fook AI Diamond Grading Certificate will be available for stones weighing 0.30 carats or less through T Mark, the retailer's diamond brand focused on traceability, the company said Monday. The reports - which it devel...Read More
RAPAPORT... Watches of Switzerland has hired Kelly Yoch as director of client relations, a new position for the company, it said Monday.Yoch, who was most recently the senior North American consultant for Patek Philippe watches at Tiffany & Co., also served as the head of fine jewelry at Saks Fifth Avenue, and as the general manager of luxury-watch label Tourneau. She will be responsible for d...Read More
RAPAPORT... Mountain Province recorded its largest open-market sale to date as rough-diamond demand returned ahead of the holiday season.The miner sold 559,528 carats for $34.3 million at last month's tender in Antwerp, averaging $61 per carat, the company reported Monday. The event, which closed October 30, was only its second commercial sale since the start of the Covid-19 pandemic."The int...Read More