(IDEX Online) - The Second World Emerald Symposium closed on October 14 in Bogota, Colombia, after three days of discussions on a variety of issues and challenges facing the emerald industry along with informative talks on small-scale and industrial mining, geology, gemology, origin, treatments, jewelry and more. For many of the speakers, the major and recurrent theme focused on the need f...Read More
(IDEX Online) - International auction house Bonhams has appointed Brett O'Connor as Senior International Jewellery Director and Senior Vice President, US. O'Connor will also join the US Executive Team. O'Connor takes up his new position at the start of November based in Bonhams' New York office. O'Connor is a globally renowned auctioneer and leading senior specialist in the jewe...Read More
RAPAPORT... Michael Hill's sales fell 9% in the first fiscal quarter asthe retailer underestimated how much marketing it needed for its strategicshift away from discounting, the company said. Group revenue fell to AUD 112.1 million ($79.7 million), the jeweler reported Friday. While the Australia-based retailerbelieves the new approach will strengthen brand loyalty and raise the value ofits produ...Read More
RAPAPORT... Alrosa sold $7.9 million worth of rough at a large-stoneauction in New York, the Russian miner said Friday. More than 90% of the diamonds on offer - each over 10.8carats - found a buyer at the auction from September 17 to October 5, thecompany noted. A total of 1,300 carats, including a 108-carat white diamond anda 98-carat white diamond with yellow shading, fetched a combined average...Read More
RAPAPORT... Three financial institutions have agreed to guarantee a $125million loan to Botswana's diamond-manufacturing industry to strengthen thenation's economic growth.The US government's Overseas PrivateInvestment Corporation (OPIC) has partnered with Botswana Finance - a subsidiary of diamond-manufacturingcompany Lazare Kaplan International (LKI) - and Stanbic Bank to provide the loan....Read More
(IDEX Online) - CIBJO President Gaetano Cavalieri has called for the creation of government monitored chokepoints for the colored gemstone sector, at which it will be possible to verify the integrity of merchandise accessing the chain of distribution, similar to national Kimberley Process Authorities that verify the identity of rough diamonds entering the global pipeline. He was speaking a...Read More
(IDEX Online) - Stornoway Diamond Corporation reported third quarter sales of 184,620 carats represented run-of-mine production recovered between April and June 2018. Gross proceeds were $24.7 million at an average price of US$103 per carat. On a segmented basis, 140,872 carats of +7 DTC sieve size diamonds were sold at an average price of US$130 per carat ($169 per carat), and 43,7...Read More
(IDEX Online) - ALROSA has sold special size rough diamonds (over 10.8 carats) at an auction in New York, raising $7.9 million. The auction was held from September 17 to October 5. The company sold more than 90% of the lots, with a total weight of over 1,300 carats. The auction was attended by clients from the US, India, Israel, Belgium, the United Arab Emirates and others, ALROSA c...Read More
RAPAPORT... Princess Eugenie's bridal jewels were all about emeralds ather wedding to Jack Brooksbank on Friday. The UK royal wore a headpiece made of brilliant- and rose-cutdiamonds pav?(C)-setin platinum, with a large emerald center stone surrounded by six emeralds on eitherside. The center emerald is 93.70 carats, according to news website The Inquisitr. The princess's grandmother, Queen Elizab...Read More
RAPAPORT... Stornoway Diamond Corporation's average price fell quarteron quarter in the three months ending September 30 due to weakness in theIndian market, it said last week. Prices of smaller and lower-quality stones have decreased sinceJuly due to challenging conditions in India, while larger and high-qualitycategories have remained strong, the company said. The miner's average price of$103 pe...Read More
RAPAPORT... An article entitled "De Beers Jewellers Sees Sales Drop" - published on Diamonds.net and the NewsBrief on Wednesday, October 10, 2018, and in the TradeWire on Thursday, October 11, 2018 - was inaccurate. It referred to De Beers Jewellers' 2017 sales results, but was based on a company filing that only reflected inventory movement around the group, and not sales to consumers.As a r...Read More
RAPAPORT... Three financial institutions have agreed to guarantee a $125million loan to Botswana's diamond-manufacturing industry to strengthen thenation's economic growth.The US government's Overseas PrivateInvestment Corporation (OPIC) has partnered with Botswana Finance - a subsidiary of diamond-manufacturingcompany Lazare Kaplan International (LKI) - and Stanbic Bank to provide the loan....Read More
RAPAPORT... Stornoway Diamond Corporation's average price fell quarteron quarter in the three months ending September 30 due to weakness in theIndian market, it said last week. Prices of smaller and lower-quality stones have decreased sinceJuly due to challenging conditions in India, while larger and high-qualitycategories have remained strong, the company said. The miner's average price of$103 pe...Read More
RAPAPORT... Stornoway Diamond Corporation's average price fell quarteron quarter in the three months ending September 30 due to weakness in theIndian market, it said last week. Prices of smaller and lower-quality stones have decreased sinceJuly due to challenging conditions in India, while larger and high-qualitycategories have remained strong, the company said. The miner's average price of$103 pe...Read More
Polished trading back to normal after Jewish and Chinese festivals,but activity below previous Oct. levels. Expectations rising for US holidayseason, with focus on improving omni-channel offerings. Retailers taking moregoods on memo. Jewelers of America launching generic marketing campaign to boostconsumer demand. LVMH 3Q jewelry and watch sales +10% to $1.2B. De BeersJewellers 2017 sales -6% to $...Read More
Slight improvement in trading, with more foreignbuyers in Mumbai for Bharat Diamond Week (Oct. 8 to 10). Local dealers underpressure due to weak rupee (-14% since beginning of year to INR 74.27/$1 onOct. 10). Smaller manufacturers closing factories early for Diwali as currency decline,bank caution and sluggish demand lead to tight liquidity. Some cutters also atrisk after loaning to Surat textile...Read More
RAPAPORT... Belgium's polished-diamond exports increased 5% in the thirdquarter as the average price hit a record high of $2,542 per carat. TheSeptember rate of $2,727 per carat was also the country's loftiest result forany month, according to Rapaport archives based on data from the Antwerp WorldDiamond Centre. That upturn reflected the relative strength of the large-stonemarket versus small...Read More
RAPAPORT... Trans Atlantic Gem Sales (TAGS) sold $30.6 million worth ofrough diamonds during a tender it held in Dubai in late September and earlyOctober, it said Wednesday. The company sold 41,335 carats of high-quality stones frommines in South Africa and Angola for an average price of $741 per carat. "Despite what is currently a slightly softer rough market,the level of interest, number o...Read More
RAPAPORT...The World Jewellery Confederation (CIBJO) is likely tokeep the word "natural" in its definition of diamonds for the time being,according to the organization's president.The Switzerland-based group will probably not amend theentry in its Blue Book before the next scheduled review in two years, GaetanoCavalieri told Rapaport News ahead of the upcoming CIBJO Congress inColombia. That's des...Read More
RAPAPORT... Chow Tai Fook will debut a new bridal-jewelry collection inpartnership with designer Vera Wang, it said Thursday. The Hong Kong-based retailer will launch the line - calledVera Wang Love - in mainland China on October 19. It will target the "modernChinese bride," the jeweler noted. The collection includes 18-karat-gold and platinum engagementrings and wedding bands, as well as fi...Read More