RAPAPORT... A 6.25-carat emerald that spent nearly four centuries in the depths of the ocean is set to go under the hammer at an upcoming Sotheby's sale in New York.The octagonal step-cut gem, salvaged from the fabled Nuestra Se??ora de Atocha shipwreck of 1622, will be one of the items the auction house will showcase at its December 7 Magnificent Jewels sale, it said Monday. A specialized team le...Read More
RAPAPORT PRESS RELEASE, November 2, 2022, Las Vegas... Diamond trading was cautious in October as demand softened. Dealers lacked the urgency to buy, anticipating further price drops. The Jewish holidays and India's Diwali festival also slowed business. US jewelers remain optimistic for the upcoming holiday season despite high inflation and economic declines.The RapNet Diamond Index (RAPI?,,?) for...Read More
RAPAPORT... The Botswana government has refuted a report that the country might scale back its sales partnership with De Beers.The local Sunday Standard claimed Botswana was expected to offer most of its large stones through parastatal Okavango Diamond Company to a partnership between Lucara Diamond Corp. and Belgian manufacturer HB Antwerp.President Mokgweetsi Masisi "publicly and forcefully...Read More
(IDEX Online) - A long-lost emerald, salvaged from a 400-year-old shipwreck is to be auctioned by Sotheby's New York.The octagonal step-cut 6.25 carat emerald ring will be sold with a $50,000 to $70,000 estimate and all proceeds will go to humanitarian efforts in Ukraine.The gemstone was lost for 363 years after the galleon Nuestra Senora de Atocha sank during the hurricane season in th...Read More
(IDEX Online) - The overall trend is still downwards, although there are pockets of price increases among some sizes. Consumers are tightening their belts, which is having a clear impact on diamond prices. They're buying smaller stones, or if they do opt for bigger stones, they're settling for lower colors and clarities.HIGHLIGHTED CHANGESRounds1.00-1.24 ct. H-I / IF-VS2 -1.5-5...Read More
RAPAPORT... Sales at Lucapa Diamond Company rose sharply in the third quarter, reflecting solid production even as market conditions worsened.Rough-diamond revenues jumped 42% year on year to $25.5 million for the period, the company said Monday in an email to Rapaport News. Sales from the Lulo mine in Angola rose 56% to $20.6 million, while proceeds from Mothae in Lesotho increased 4% to $4....Read More
RAPAPORT... Diamcor Mining saw profit rebound during the second fiscal quarter as the company sold a greater number of larger, higher-value rough diamonds.The company posted earnings of $1 million in the three months ending September 30, compared to a loss of $918,953 in the previous quarter, it said last week. The miner operates the Krone-Endora at Venetia deposit in South Africa.Revenue for the...Read More
(IDEX Online) - Pandora's distribution center in Hamburg, Germany, has been damaged after a fire broke out in the roof.The Danish jewelry giant said it has yet to fully assess the extent of damage to the building and to its inventory, but said nobody had been hurt.The warehouse, on Hans-Dunker-Strasse, serves as Pandora's European distribution center. The company said: "Other...Read More
RAPAPORT... Pandora has reported a blaze at a distribution center in Hamburg, Germany, noting that the company would use its other locations to serve the European markets should the incident affect supply. The fire, which began yesterday, is under control but has not yet been fully extinguished, Pandora said Sunday. Because the situation is ongoing, the Danish jeweler has not been able to determin...Read More
(IDEX Online) - A Graff ring set with a 41.36-carat Type IIa diamond is to be sold by Christie's Geneva with a high estimate of $5m.The square emerald-cut gem is described as "D colour, VVS1 clarity, potentially Internally Flawless, excellent polish and symmetry."It is set in a platinum ring together with tapered baguette-cut diamonds, signed by the London-based jeweler Graff.The ring will be...Read More
(IDEX Online) - Mountain Province has reported the highest quarterly revenue - CAN $111m / USD $81m - since it was founded in 1986.The Canadian miner, which jointly operates the Gahcho Kue mine with De Beers Canada, said the Q3 figure was up nine per cent on Q2 2022."Improving production performance, coupled with our very strong financial performance during the quarter places the company in a stro...Read More
RAPAPORT... De Beers' 2022 Diamond Insight Report focused on the importance of brands - no coincidence given the miner's own emphasis on its consumer-facing labels in the past couple of years. Jewelry from a trusted name commands a significant premium, and this trend goes hand in hand with an increased interest in the corporate values behind products, the company explained.Last Thursday, Rapa...Read More
RAPAPORT... Christie's will offer a 41.36-carat Graff diamond ring at its upcoming Geneva auction, predicting it could sell for up to CHF 5 million ($5 million).The square emerald-cut, D-color, VVS1-clarity diamond, which is potentially internally flawless, is one of the top items set to go under the hammer at the November 8 Magnificent Jewels auction, Christie's said last week. Several other diam...Read More
RAPAPORT... Mountain Province achieved its highest quarterly revenue in the company's history as demand for rough remained resilient. Revenue jumped 17% year on year to $83.3 million in the third quarter ending September 30, the miner reported last week. Sales volume from the company's Gahcho Ku?(C) mine in Canada rose 37% from the previous quarter to 805,227 carats, outweighing a 10% drop in the...Read More
(IDEX Online ) - Raiders broke into a jewelry store in Florida, USA, by cutting a hole in the ceiling.They stole $400,000 of merchandise, including "irreplaceable items" after gaining access through a neighboring shoe repair store.They the clambered through the roof space to reach the premises of Certified Jewelry Design, in Longwood."These people are professional, experienced," owner Albert...Read More
(IDEX Online) - A quarter of all US diamond jewelry sales (by value) were online last year, according to De Beers' latest Diamond Insight Report.That compares with just 14 per cent in 2015, says the report. By volume the figures are 31 per cent in 2021 and 18 per cent in 2015. Online purchases were higher than average among Gen Z consumers (at 42% of total Gen Z purchases), those self-pu...Read More
RAPAPORT... The Gemological Institute of America (GIA) has joined the Watch & Jewellery Initiative 2030 (WJI 2030) and will work with the group to develop environmental, social and governance (ESG) content for education programs."Supporting WJI 2030 will build on GIA's many existing sustainability initiatives," Johanna Levy, GIA's vice president of ESG programs, said last week. "Our next steps...Read More
RAPAPORT... The US branch of Swiss watch and jewelry retailer Bucherer has acquired Leeds & Son, aiming to expand its presence within the US market.California-based Leeds & Son is a family-owned fine-jewelry and watch retailer, carrying brands including Rolex, Patek Philippe and Messika, Bucherer said last week. The company, founded in 1947, is run by CEO Terry Weiner. In 2018, Bucherer bo...Read More
RAPAPORT... Consumers are increasingly turning to branded jewelry in search of trustworthy products with clear origins, according to De Beers' latest Diamond Insight Report.Environmental concerns, social movements and the Russia-Ukraine crisis have sharpened the focus on provenance and sustainability. Demand for dependable labels has grown, as has the added value they command over unbranded i...Read More
RAPAPORT... De Beers said diamond demand was likely to slow in the coming months amid difficult market conditions, even as sales rose in the third quarter.The miner's sales volume increased 17% year on year to 9.1 million carats in the three months ending September 30, parent company Anglo American reported Thursday. Three sights took place during the period, compared with two a year earlier....Read More