(IDEX Online) - Russia's ongoing sale of diamonds to some dealers in India and Belgium and are said to be dividing the industry.Alrosa, the state-controlled miner, has been sanctioned by the US since its invasion of Ukraine in February, but is reportedly selling $250m of rough gems a month (compared with its $347m average in pre-war 2021).Indian hasn't imposed sanctions on Russian stones...Read More
(IDEX Online) - Reese Witherspoon dazzled in a platinum necklace set with 160 carats of aquamarines and blue zircons by Tiffany & Co at last week's Emmys in Los Angeles, California, USA.The actress, 46, who starred in the Legally Blonde movies, was nominated as lead actress at this year's ceremony for her role in Apple TV+'s The Morning Show.But the award went to 26-year-old Zen...Read More
(IDEX Online) - An early version of the only wedding ring ever worn by James Bond is expected to fetch up to $13,000 at auction.The 007 agent was married only once in all the 25 movies, to Contessa Teresa di Vicenzo (Diana Rigg) in the 1969 film On Her Majesty's Secret Service. She was assassinated shortly after the wedding. Bond was played by George Lazenby.Jeweler Charles de Temple created...Read More
(IDEX Online) - Lightbox is selling lower quality polished lab growns with a 25 per cent discount.The De Beers-owned company is charging $600 per carat, for its Lightbox Basics collection - white stones in a "modern sterling silver bezel setting" - rather than its standard $800.It says the Basics stones are all guaranteed to be at least SI clarity, faint color, and a very good cut. Stan...Read More
RAPAPORT... Belgian manufacturer HB Antwerp has unveiled a digitally secured diamond vault for individual stones, claiming the device ensures origin verification and protects goods from tampering.The new HB Capsule can only be opened by authorized people who are next in line to interact with the diamond, the company said Thursday. The system uses blockchain technology and data analytics to tr...Read More
(IDEX Online) - One of the world's largest rubies, a 101-ct rough gemstone recovered in Mozambique, is to be auctioned next month.The Estrela de Fura, recovered by Dubai-based miners Fura, could become the world's most expensive ruby once it's cut and polished.The record is currently held by the 25.59-ct cushion-cut Sunrise Ruby, a Burmese gemstone which sold for $30.42m at Sotheby&...Read More
RAPAPORT... Experts discussed the important topic of fancy-shape diamonds in the latest Rapaport webinar, sharing their views on what's driving demand and how technology is changing the market.The second in a series of sessions sponsored by the International Gemological Institute (IGI) delved into the popularity of different cuts among consumers, how manufacturing has improved, why the role o...Read More
RAPAPORT... US retail sales rose gently in August as wage increases and a higher employment rate outweighed the negative impact of inflation.Revenue grew 0.3% from the previous month, compared with a 0.4% decrease in July, according to data the US Census Bureau released last week. August sales climbed 9% from a year earlier."Household spending remains steady even as costs continue to rise," said N...Read More
RAPAPORT... A colored-stone miner based in Dubai claims to have unearthed the world's largest gem-quality ruby.Fura Gems discovered the 101-carat rough at its mine in Mozambique, the company said last week. The stone's fluorescence, clarity and vivid-red hue are extremely rare, it added. The miner has named it the Estrela de Fura, Portuguese for Star of Fura.While larger rubies exist, they ar...Read More
RAPAPORT... Sotheby's will offer a set of unmounted pear-shaped diamonds for up to HKD 55 million ($7 million) at its jewelry sale in Hong Kong next month.The 31.46- and 30-carat, D-flawless stones will be among the top lots at the October 7 Magnificent Jewels sale, Sotheby's said Wednesday. Two jadeite necklaces will also lead the sale. The first, set with 41 rare imperial green jadeite beads and...Read More
RAPAPORT... BlueRock Diamonds has appointed Victor Dingle as CEO following a financing deal that saw his company, Teichmann Group, become a majority shareholder.Dingle, who is the CEO of Teichmann, will replace Mike Houston, who will leave immediately, BlueRock said Wednesday. BlueRock's finance director, David Facey, is also expected to exit the company, which owns the Kareevlei mine in South Afr...Read More
RAPAPORT... Lightbox has been selling lower-quality lab-grown diamonds at a reduced price of $600 per carat for many months, the De Beers-owned company confirmed this week.The Lightbox Basics line has been "around for a while" and was originally branded as Lightbox Outlet, a spokesperson told Rapaport News in an email. It offers white lab-grown diamonds with SI clarity, "faint" color and "ver...Read More
(IDEX Online) - Diamond Standard, the fintech startup that has turned diamonds into a market-traded commodity, has closed on a $30 million investment round.The US-based company launched an IPO last February, offering the first 5,000 diamond standard coins (pictured), weighing 4.5 carats for $5,000 each.It is standardizing diamond values with the coins - and now also with bars - which each contains...Read More
(IDEX Online) - At least three people died when a dam holding waste from a disused diamond mine burst in South Africa.Houses were swept away by a devastating mudslide and floodwaters at Jagersfontein, about 60 miles from Bloemfontein, in Free State province, at dawn on Sunday.An estimated 300 people have been left homeless as the area was covered in grey sludge from the tailings dump. Twenty-three...Read More
(IDEX Online) - The "courtesy watches" provided by Hublot to its customers have proved to be a victim of their own success.Owners have been so taken with the loan replacements - clearly marked "NOT FOR SALE" on the face - that they've held onto them and forfeited the timepiece they sent for service or repair.The black composite Atelier (French for workshop) with its quartz movement, has becom...Read More
(IDEX Online) - Belgium's prime minister yesterday told industry leaders that he remained opposed to sanctions on Russian diamonds.Alexander De Croo was addressing delegates at the two-day Facets 2022 convention in Antwerp, where Bruce Cleaver, CEO of De Beers, and Mokgweetsi Masisi, president of Botswana, were also among the speakers.Mr De Croo, (pictured) has repeatedly said his country wou...Read More
News: Diamond market uncertain as prices continue decline amid sluggish trading. Program goods, including nice SIs and oversizes, doing better than lower qualities. Discretionary spending squeezed as Aug. US inflation +8.3% from a year ago and stock market plunges. Rising expectations for holiday season with pent-up demand for in-store shopping. Mastercard projects Nov.-Dec. US jewelry sales +2.2...Read More
RAPAPORT... Former Tiffany & Co. design executive Reed Krakoff has joined jewelry brand John Hardy as its creative chairman.Krakoff has also been appointed strategic adviser to L Catterton, a private-equity firm that owns a majority stake in the boutique jeweler.Canadian artist John Hardy founded the business in 1975, inspired by the jewelry traditions of Bali. It employs more than 500 cr...Read More
RAPAPORT... US retail sales will rise by 4% to 6% year on year this holiday season as higher prices compensate for sluggish consumer sentiment, Deloitte predicted.Revenues will total $1.45 trillion to $1.47 trillion from November to January, the professional-services group projected Tuesday. E-commerce sales will grow by 13% to 14% for a total of between $260 billion and $264 billion.The over...Read More
RAPAPORT... The Watch & Jewellery Initiative 2030 (WJI) has admitted nine new members as it expands its work to ensure sustainability in the industry.Watchmakers A. Lange & S??hne, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, and Piaget have joined the program, as have jewelers Mattioli, Rubel & M?(C)nasch?(C) and Pandora as well as diamond supplier Dimexon, the organization said Tuesd...Read More