(IDEX Online) - Smash and grab aiders fled empty-handed after they were thwarted by thick laminated display cases.A gang of six men tried to smash the cases at a store in the Jewelry District of downtown Los Angeles, California, USA.Employees fought back, hurling items at the perpetrators and a security guard fired a non-lethal pepper ball.The men, all were wearing black hoods, drove off in three...Read More
The Jewish New Year is a time for reflection about who we are and what we do. The diamond trade is blessed with a product that celebrates all that is good in life. The joy of gifting, connecting and loving is the message of diamonds. The diamond and jewelry trade makes the world a better place by providing people with products that promote loving relationships.That's nice.There is more to our live...Read More
(IDEX Online) - Billionaire businessman Lev Leviev is to be interviewed by police in Israel over allegations of diamond smuggling.LLD (Lev Leviev Diamonds), one of the world's largest diamond cutting groups, is suspected of smuggling stones into the country by air over a 16-year period.Leviev, 66, (pictured) who has lived in Russia since 2018, arrived in Israel on Tuesday (20 September) and w...Read More
News: Polished demand slower than usual at this time of year. Jewelers optimistic for holiday season but hesitant to buy inventory. Consumers seeking convenient and interactive shopping experience that combines digital and in-store platforms. De Beers rough prices stable at Sep. sight; secondary market seeing fewer buyers and lower premiums. Grib Diamonds cancels Oct. auction after bank blocks cu...Read More
RAPAPORT... More than 100 extremely rare timepieces from a single owner will make their auction debut at a Christie's sale later this year.The 112 watches were collected over a 40-year period and include some of the earliest pieces by Patek Philippe, Rolex and other well-known makers. The sale, called Legendary and Unique Watches: The Collection of a Lifetime, will take place on November 6 an...Read More
(IDEX Online) - A Canadian company has produced the country's first lab grown diamonds.Groupe RSL has opened a factory in Quebec using hydroelectric power to produce gems using what it describes as a unique version of the CVD process."Recent research has brought to light a new idea, using hydrogen and methane gas in a controlled reaction," said Luke Sinclair, the company's CFO."Consumers...Read More
(IDEX Online) - Lucapa says it has recovered its fourth +100 carat diamond this year at its Lulo mine, in Angola.The Australian miner describes the Type IIa 131-ct stone as "spectacular". It's the 29th +100 carat diamond recovered since the deposit - which has both alluvial mining and kimberlite exploration - started commercial production in 2015. It jointly operates Lulo with its partne...Read More
RAPAPORT... Lucapa Diamond Company has recovered a 131-carat, type IIa diamond at its Lulo deposit in Angola. The rough is the 29th stone of 100 carats or more that the miner has unearthed at the site, and the fourth on that scale since the start of the year, it said Wednesday."Angola has proven, yet again, its enormous diamond potential," said Diamantino Azevedo, the country's minister of mi...Read More
(IDEX Online) - The Watch & Jewellery Initiative 2030, founded a year ago as a movement for positive change in the industry has announced a raft of new members.Luxury watchmakers A. Lange & S?? ?hne, IWC Schaffhausen, Jaeger-Lecoultre, Panerai and Piaget, as well as Dimexon, Mattioli, Pandora and Rubel & M?? (C)nasch?? (C), have all signed up.They join existing members Cartier, Kering...Read More
RAPAPORT... Grib Diamonds, which markets rough from one of Russia's largest mines, has canceled next month's auction after a bank blocked customers' payments at a previous sale."In order to avoid a similar situation during the next auction, and due to the fact that Grib Diamonds has no influence on the payment routes of its clients, it was decided to postpone the upcoming auction in Dubai," s...Read More
RAPAPORT... Retail jewelers must give a more honest account of the contribution natural diamonds make to communities and the environment or risk having mistruths embedded in the consumer psyche, industry analyst Kieron Hodgson cautioned on the Rapaport Diamond Podcast. "Retail outlets are willing to portray natural diamonds as something that is not a benefit to the industry whereas lab grown is th...Read More
RAPAPORT... Exports of Swiss watches rose 15% year on year in August amid increased demand in key markets including the US and China.Total global shipments for the month came to CHF 1.74 billion ($1.8 billion), the Federation of the Swiss Watch Industry reported Tuesday.Supply to the US, the sector's largest market, grew 23% to CHF 261.8 million ($271 million), while orders to China climbed 15% to...Read More
RAPAPORT... The American Gem Trade Association (AGTA) has elected three new directors to its board for a three-year term.Bruce Bridges of Bridges Tsavorite, Malinda Daniel of Tim Roark, and Ravi Jajoo from United Color Gems will take office in February 2023. Joining them are Ann Barker of Barker & Co., John Bradshaw from John J. Bradshaw, and Jonathan Gad of Gad Enterprises, who were reelected...Read More
RAPAPORT... India's polished-diamond exports fell 7% year on year to $1.88 billion in August, according to recent data from the country's Gem & Jewellery Export Promotion Council (GJEPC). However, rough imports increased during the month, indicating an inventory buildup at manufacturers.India Trade Data for August 2022 Read More
(IDEX Online) - Grib Diamonds says it's been forced to postpone its rough auction in Dubai next month after a correspondent bank blocked payments from some buyers.The Antwerp-based company, which sells diamonds from a Russian mine, told customers it had canceled viewings due to take place from 4th to 8th October and an auction on 12th October."We are currently encountering some banking issues...Read More
RAPAPORT... Imports of polished diamonds into the United States rose 9% year on year to $1.89 billion in July, continuing the momentum experienced in the first half, according to data from the country's Department of Commerce. The volume of shipments fell 17%, signaling a shift to larger and better-quality goods; the average price of imports increased 33% to $2,144 per carat.US Trade Data for July...Read More
(IDEX Online) - Netflix is to screen an eight-part crime drama set in the heart of Antwerp's diamond district. Diamonds charts the story of an ultra-orthodox Jewish family whose youngest son commits suicide.His long-estranged brother Noah (Belgian actor Kevin Janssens) returns to take charge of the family business, using mafia-style methods that are anything but orthodox.The drama has be...Read More
(IDEX Online) - Scientists in Australia say they have proof that microscopic diamonds were formed in space.They say lonsdaleite, a rare diamond smaller than the width of a human hair were formed when a dwarf planet collided with a large asteroid about 4.5 billion years ago.Diamonds found on Earth have a cubic structure, but these are hexagonal, which makes them even stronger than normal diamonds.A...Read More
(IDEX Online) - State Bank of India (SBI), the country's largest lender, is opening rupee accounts to handle Russia-related trade settlements.The news follows an announcement by the Federation of Indian Export Organisations (FIEO) that the state-owned bank was being authorized to promote rupee trade with Russia. Moscow is now expected to name a Russian bank to operate the trade mechanism.The...Read More
RAPAPORT... Covid-19 has exacerbated US retail theft, leading to a higher rate of loss and more violent crimes within stores, according to a survey by the National Retail Federation (NRF).Retail shrink - the difference between a store's recorded merchandise and the results of a physical inventory count - accounted for $94.5 billion in overall industry losses in 2021, compared to $90.8 billion the...Read More