RAPAPORT... India's polished-diamond exports fell 25% to $1.64 billion inAugust, data from the Gem & Jewellery Export Promotion Council showed. Thedecline reflects a slump in the average export price to $658 per carat, thelowest since August 2017, according to Rapaport archives. Exports of polishedlab-grown diamonds more than doubled to $37.4 million for the month from $15.2million a year ago....Read More
RAPAPORT... De Beers' sales slumped to $295 million in September as the minercontinued to allow sightholders to refuse goods in the prevailing weakrough-diamond market. The company maintained firm prices and offered increasedflexibility to encourage lower purchases, thereby reducing the oversupply inthe polished sector, sightholders explained to Rapaport News. Itcontinued its policy of allowing cl...Read More
RAPAPORT... The Jewelers Vigilance Committee (JVC) will unveil a diamond-supply-chain-protectionkit this month to help retailers understand the Federal Trade Commission's(FTC) revised guidelines for natural and lab-grown stones. The free tool, which aims to help protect the supply chain,comes with a handout that breaks down the exact wording retailers can and can'tuse when advertising natural...Read More
RAPAPORT... Sales of jewelry and other luxury items in Hong Kong sank in August, marking the sharpest monthlydecline on record as protests in the municipality hit tourism and consumption. Revenue from jewelry, watches, clocks and other valuablegifts dropped 47% year on year to HKD 3.93 billion ($501.3 million) during themonth, the municipality's Census and Statistics Department reported Wedne...Read More
(IDEX Online) - As calls go out urging caution over diamonds from the Central African Republic (CAR), the country has announced a "full overhaul" of its alluvial diamond mining sector.A presidential decree signed on September 30 has established a process to allow existing buying houses to formalize their activities. Each buying house must export at least $3 million worth of goods per quarter....Read More
(IDEX Online) - De Beers today said it provisionally sold $295 million worth of rough diamonds at its eighth Sight of the year in September. This is compared to $482 million a year ago - a drop of 39 percent. In Sight seven, the company sold $297 million worth of goods. Accounting for slower sales, Bruce Cleaver, De Beers Group CEO said the company was approaching what is "tr...Read More
(IDEX Online) - Sales of fine jewelry and fine watches declined by 0.8 percent in the U.S. market in July compared to the same month a year ago, as seen in the graph below. Revised figures also show that the situation is less gloomy than previously thought with the declines since the beginning of the year less steep than previously thought (the Department of Commerce periodically revises its numbe...Read More
(IDEX Online) - The World Diamond Council has again cautioned members of the industry to be cautious when purchasing goods from the Central African Republic (CAR).The call comes following recent media reports about rough diamonds being associated with the ongoing conflict in the country. There is some legal trade from the country. The Kimberley Process has designated "green" compliant zones t...Read More
Diamond miner De Beers sold $295-million worth of diamonds during the eighth sales cycle of the year.This was higher than the $287-million worth of diamonds sold during the seventh sales cycle of this year, but well below the $482-million of diamonds sold in the eighth sales cycle of 2018.Advertisement"As we approach what is traditionally a quieter time of year for the diamond industry during...Read More
RAPAPORT... De Beers' sales slumped to $295 million in September as the minercontinued to allow sightholders to refuse goods in the prevailing weakrough-diamond market. The company maintained firm prices and offered increasedflexibility to encourage lower purchases, thereby reducing the oversupply inthe polished sector, sightholders explained to Rapaport News. Itcontinued its policy of allowing cl...Read More
RAPAPORT... De Beers has appointed Alastair Bickerstaff as head ofproduct development and sales for its auctions division. The company created the new role to bring the two elementsof the auctions business together so it could better address its customers'needs, it said last week.Bickerstaff, who began working with De Beers in 2005 as a London-basedtrainee rough-diamond valuer, held a variety of p...Read More
RAPAPORT... Swiss-based luxury retailer Richemont has bought high-endjeweler Buccellati from China's Gangtai Group. Richemont, which also owns Cartier and Van Cleef &Arpels, closed the purchase of the 100% stake in the Italian jeweler last week.The luxury group reportedly tried to purchase an 85% share in Buccellati inDecember 2016 from its previous owner, Italian equity firm Clessidra, b...Read More
RAPAPORT... Global diamond-jewelry demand will decline 2% this year asstock-market volatility in the US is likely to affect consumer sentiment, UBSpredicted. "Demand in 2019 [to date] has been lackluster, and we expecta modest decline in global diamond-jewelry sales in [the 2019 fiscal year],"the investment bank said. UBS has been bearish about US stocks, and in May forecast that the S&P 500...Read More
RAPAPORT... A blue diamond ring by Van Cleef & Arpels fetched morethan double its high estimate at Bonhams, leading an auction where thedesigner's jewels proved popular. The emerald-cut, 2.17-carat, fancy-intense-blue,VVS2-clarity diamond, accented by round brilliant-cut diamonds, sold for $2.5million, or $1.2 million per carat, beating its $1.2 million high presaleestimate at last w...Read More
(IDEX Online) - The IDEX Polished Diamond Price Index showed little movement in September, with prices declining only slightly during the month. The Index began the month at 121.00 and ended it at 120.35.OutlookThe important September edition of the Hong Kong Jewellery and Gem Fair saw weaker-than-usual turnout. Hardly surprising given the tension over the ongoing pro-democracy demonstr...Read More
RAPAPORT... The World Diamond Council (WDC) has cautioned the trade to be vigilant when buying diamonds from the Central African Republic (CAR) since most of the country's rough is being smuggled across its borders.The Kimberley Process (KP) certifies production from six designated areas known as "green zones," which account for only a small portion of the country's rough supply. "People should k...Read More
(IDEX Online) - De Beers Group Auctions has appointed Alastair Bickerstaff as head of Product Development and Sales. The new role was created following the departure of the head of Sales and CRM and is intended to develop more synergy between product development and sales and to better address its customers product needs.The company said this appointment makes De Beers Group Auctions better placed...Read More
RAPAPORT... Lucara Diamond Corp has recovered two gem-quality coloreddiamonds from the high-value portion of its Karowe mine in Botswana. The company unearthed a 9.74-carat blue diamond and a4.13-carat pink from run-of-mine ore taken from the south lobe. The recovery follows the recent sale of a 2.24-carat blue from thesite for $347,222 per carat, the miner said last week. Lastmonth, the comp...Read More
(IDEX Online) - Helzberg Diamonds is offering the ultimate wedding service for engaged couples - a wedding service. The jewelry retailer has ordained hundreds of its associates across the U.S. enabling all Helzberg Diamonds stores to perform legal marriage ceremonies.The associates have been ordained through a partnership with the Universal Life Church. To get married in-store, couples need t...Read More
(IDEX Online) - Diamonds from Zimbabwe and gold from the Democratic Republic of the Congo (DRC) are among items from five countries seized at U.S. borders over suspicions of forced labor. In a statement released yesterday, U.S. Customs and Border Protection (CBP) singled out gold mined in artisanal small mines (ASM) in eastern Democratic Republic of the Congo (DRC) and rough diamonds from the...Read More