RAPAPORT... The first JCK Virtual show, which ran from August 11 to 14, was a chance to test a new exhibition model that, if successful, could help companies do business during the coronavirus era. The event was free for exhibitors who had committed to the 2021 show, as well as for buyers and industry professionals, so there was little downside in participating.The initial verdict, however, w...Read More
(IDEX Online) - The priceless yellow Tiffany Diamond is to make a new screen appearance, in Kenneth Branagh's new movie Death on the Nile.The cushion-shape brilliant, weighing 128.54 carats with an unprecedented 82 facets - 24 more facets than usual - was discovered at the Kimberley diamond mines in South Africa in 1877.Audrey Hepburn wore it in publicity photographs the 1961 classic Breakfas...Read More
(IDEX Online) - Antwerp's exports of both rough and polished diamonds were down over 50 per cent by dollar value in the first half of 2020.Imports were also severely dented by the coronavirus pandemic, according to new figures released by the Antwerp World Diamond Center (AWDC).However exports have been recovering steadily since hitting rock bottom in April.Rough exports from January to...Read More
(IDEX Online) - India's domestic jewelry sales are expected to bounce, thanks to a post-lockdown wedding rush and the Hindu festival of Diwali, in November.The world's biggest miners, De Beers and Alrosa, both say they're optimistic about increased demand driving up consumption in the second half of 2020.De Beers told The Economic Times in India that it had executed 80 per cent of i...Read More
(IDEX Online) - Sales of fancy color diamonds have again been too slow for trade body the FRCF to produce a quarterly price index.But it says it can see signs of a recovery for Q3.The Fancy Color Diamond Index (FCDI) tracks changes in wholesale buying prices of yellow, pink and blue stones.In April, as the coronavirus pandemic hit, the Fancy Color Research Foundation (FCRF) said there was in...Read More
(IDEX Online) - Gem Diamonds has unearthed a 442-carat Type II stone, reckoned to be worth $18m, at its Letseng mine, in Lesotho.Let?... ?eng is the highest dollar per carat kimberlite diamond mine in the world and has yielded 60-plus white gem quality diamonds over 100 carats since it was acquired by London-based Gem, in 2006."The recovery of this remarkable 442 carat diamond, one of the wo...Read More
(IDEX Online) - Consumers in the US now have more disposable cash for diamond purchases, having canceled vacations and other "experience" spending, says De Beers.Almost half (44 per cent) of the 500 adults surveyed said coronavirus had freed up their savings, and over two thirds said they had money available that had been earmarked for flights and accommodation.One in eight who had canceled travel...Read More
RAPAPORT... Tiffany & Co. has postponed the unveiling of its new-look flagship store in New York due to the impact of Covid-19 on activity in the city. "Due to the temporary halt of all non-essential construction activity in New York City and certain related matters in response to Covid-19, [the company] expects this renovation to be completed in spring 2022," the jeweler explained in a Securi...Read More
RAPAPORT... Gem Diamonds has recovered a 442-carat, type II diamond from the Let??eng mine in Lesotho, claiming the stone ranks among the largest gem-quality rough discovered this year. "The recovery of this remarkable 442-carat diamond, one of the world's largest gem-quality diamonds to be recovered this year, is further confirmation of the caliber of the Let??eng mine and its ability to consiste...Read More
RAPAPORT... Gemological Science International (GSI) has appointed Alethea Inns as its chief learning officer, to oversee the grading company's education programs. "Alethea brings valuable expertise and extensive knowledge to her role, which will contribute to our long-term goals," said Debbie Azar, president and cofounder of GSI. Inns was previously the director of gemology and education at t...Read More
RAPAPORT... Tiffany & Co. has postponed the unveiling of its new-look flagship store in New York due to the impact of Covid-19 on activity in the city. "Due to the temporary halt of all non-essential construction activity in New York City and certain related matters in response to Covid-19, [the company] expects this renovation to be completed in spring 2022," the jeweler explained in a Securi...Read More
RAPAPORT... Gem Diamonds has recovered a 442-carat, type II diamond from the Let??eng mine in Lesotho, claiming the stone ranks among the largest gem-quality rough discovered this year. "The recovery of this remarkable 442-carat diamond, one of the world's largest gem-quality diamonds to be recovered this year, is further confirmation of the caliber of the Let??eng mine and its ability to consiste...Read More
RAPAPORT... Gem Diamonds has recovered a 442-carat, type II diamond from the Let??eng mine in Lesotho, claiming the stone ranks among the largest gem-quality rough discovered this year. "The recovery of this remarkable 442-carat diamond, one of the world's largest gem-quality diamonds to be recovered this year, is further confirmation of the caliber of the Let??eng mine and its ability to consiste...Read More
(IDEX Online) - It's a diamond ring, but not as we know it. The entire piece (pictured) has been carved from a fancy dark grey natural rough type IaB diamond and weighs 13.15 carats.The Gemological Institute of America's New York lab say it's the first ring of its kind submitted to them for evaluation.It probably started life as a 20-carat rough, they say in the spring is...Read More
RAPAPORT... A ring made entirely of natural diamond has become the first of its type to reach the Gemological Institute of America (GIA) for evaluation.The 13.15-carat, fancy-dark-grey diamond originated from a rough stone weighing around 20 carats, the GIA said in the spring issue of its Gems & Gemology journal, which it published last month. A customer recently submitted the piece to th...Read More
RAPAPORT... Discretionary spending on jewelry could increase as US consumers reallocate funds they would have used on travel, dining and other experiences prior to Covid-19, according to a De Beers report."As some consumers find themselves with additional discretionary income as a result of spend in other areas such as travel being canceled, there is potential they will allocate this to alternativ...Read More
RAPAPORT... India's finance ministry has agreed to form a special group to help resolve issues affecting the country's gem and jewelry industry.The task force will address various requests made by the trade, such as enabling direct sales of rough diamonds by miners in the country, reducing the polished import duty to 2.5% from 7.5%, and issues pertaining to the goods and services tax (GST), the Ge...Read More
Polished market improving as governments ease Covid-19 restrictions. Dealers emphasizing digital trading. US and China driving demand for select categories. Uptrend in 0.30 to 0.89 ct. SIs. Suppliers staying firm on prices as dealers struggle to fill orders. Cutters consider increasing production as expectations rise for holiday season. Alrosa 2Q profit -98% to $3.6M. Tiffany extends traceability...Read More
RAPAPORT... De Beers has reduced prices of rough larger than 1 carat ahead of next week's sight amid a gradual improvement in demand and shortages in certain categories, sources told Rapaport News. The reductions were around 6% to 8%, according to sightholders and other industry insiders who spoke with Rapaport News Thursday. "Very few people have seen their goods and received their prices, b...Read More
(IDEX Online) - Women alleging sex bias by Sterling Jewelers are calling on the US Supreme Court to allow them to pursue a joint action.A group of 70,000 current and former employees claim Sterling, a subsidiary of Signet Jewelers, paid them less than men and gave them fewer promotions. Sterling strenuously denies the claims.Last November, Sterling persuaded a court that only a few hundred women w...Read More