LONDON – Five years ago, the diamond industry’s biggest worry was being forgotten by millennials, who – the theory went – didn’t covet sparkly gems the way their parents had.The concern turned out to be mostly unfounded, but the reality is almost worse. While Americans are buying more diamond jewellery than ever before, most polished diamonds are getting steadily chea...Read More
RAPAPORT... Singles' Day has continued to grow as a major onlineshopping occasion in China, with Alibaba Group reporting record sales through itse-commerce sites. The total value of transactions on the Chinese retailgiant's platforms rose 26% to CNY 268.4 billion ($38.4 billion) on Monday,the company said. More than 200,000 brands participated in the 24-hour shoppingfestival, it added. "Today...Read More
RAPAPORT... An aquamarine and diamond necklace by Cartier will lead thesale of a selection of Art Deco jewels at Bonhams next month.The piece, dated from 1940, is set to go under the hammerestimated at GBP 100,000 to GBP 150,000 ($128,290 to $192,435), along with a pair ofmatching earrings created by the jeweler in 1935. That set is expected to fetchGBP 40,000 to GBP 60,000 ($51,343 to $77,01...Read More
RAPAPORT... A rare fancy-deep-grayish-blue diamond ring with a highestimate of $8 million is set to lead Sotheby's Magnificent Jewels sale in NewYork next month.The cushion-cut, 7.55-carat, type IIb, SI2-clarity stone,called the Indian Blue, is valued at $6 million to $8 million, and displays ared phosphorescence typically found in diamonds from the Golconda mine inIndia, or from South Africa...Read More
RAPAPORT... Few in the diamond industry were surprised by the news that Rosy Blue chief Dilip Mehta had launched an independentlab-grown business. It's been an open secret for months that majormanufacturers of natural diamonds have been exploring the sector, Rosy Bluebeing just one of them.A significant number of De Beers' approximately 80 sightholdersare already trading in synthetics or cons...Read More
(IDEX Online) - After taking in a billion dollars in just over a minute, this year's Singles Day has broken all records. The final total for the 24-hour shopping frenzy was $38.4 billion. This was an increase of 26 percent compared to 2018. "Today we showed the world what the future of consumption looks like for brands and consumers," said Fan Jiang, president of Taobao and Tmall. "...Read More
(IDEX Online) - The World Gold Council (WGC) today launched its new consumer research report. The report, which surveyed 18,000 respondents in China, India, North America, Germany and Russia highlights insights into attitudes towards and perceptions of gold, how and why people buy gold and also their reasons for not buying.The survey found that 56 percent of consumers have bought find gold jewelry...Read More
(IDEX Online) - Following recommendations from the IDF Home Front Command, the Israel Diamond Exchange (IDE) in Ramat Gan has advised people not to come to the exchange. The IDE said in a post on its Facebook page that because of threats due to the current security situation, the buildings would only be open in a limited capacity.The Home Front Command has ordered all schools and non-essentia...Read More
(IDEX Online) - After De Beers began selling lab-grown diamonds under its Lightbox brand, it is hardly surprising that other big names are testing out the lab-grown market. The latest entrant into the sector is Dilip Mehta, chairman emeritus of Rosy Blue Alliance, who is partnering with his sons to launch a lab-grown business in Surat. Speaking to the Times of India, Mehta took pains to...Read More
RAPAPORT... A rare fancy-deep-grayish-blue diamond ring with a highestimate of $8 million is set to lead Sotheby's Magnificent Jewels sale in NewYork next month.The cushion-cut, 7.55-carat, type IIb, SI2-clarity stone,called the Indian Blue, is valued at $6 million to $8 million, and displays ared phosphorescence typically found in diamonds from the Golconda mine inIndia, or from South Africa...Read More
London-listed Botswana Diamonds (BOD) has recovered the first diamonds from its plant commissioning activities at the Marsfontein mining permit.The company’s 40%-owned associate Vutomi Mining was last month granted a mining permit for the diamond-bearing gravels and residual unprocessed stockpiles around the iconic mine, in South Africa.AdvertisementBOD reports that plant commissioning is we...Read More
RAPAPORT... Singles' Day has continued to grow as a major onlineshopping occasion in China, with Alibaba Group reporting record sales through itse-commerce sites. The total value of transactions on the Chinese retailgiant's platforms rose 26% to CNY 268.4 billion ($38.4 billion) on Monday,the company said. More than 200,000 brands participated in the 24-hour shoppingfestival, it added. "Today...Read More
RAPAPORT... The parent company of Bailey Banks & Biddle, whichclaims to be the US's oldest nationwide jeweler, has filed for Chapter 11bankruptcy in Texas, according to a court document. Houston-based BBB Group estimated both assets andliabilities of up to $50,000 in the November 6 voluntary petition. Joseph Trowbridge Bailey and Andrew Kitchen founded thecompany in 1832 as Bailey & Kitch...Read More
RAPAPORT... Rolex, Cartier and Tiffany & Co. captured the top threespots in the luxury category when it comes to the emotional connectioncustomers have with a brand, according to a study of "brand intimacy." The three jewelry brands ranked ahead of Chanel, Jaguar, Louis Vuitton andGucci, as well as the other fashion and automotive brands which rounded out the luxury segment's...Read More
RAPAPORT... Alrosa has implemented a digital-tender pilot enabling buyers to scan rough diamonds to evaluate their polished output using systems from SarineTechnologies. The program, which the Russian miner debuted at its October sale, uses Sarine's Galaxy inclusion mapping and DiaExpertplanning to study a rough stone's external shape, internal inclusions and anticipatedcolor and fluorescence...Read More
(IDEX Online) - Underscoring the importance of the Far East market, 21 companies will exhibit in the Israel Diamond Pavilion at the upcoming Hong Kong International Jewelry Manufacturers' show (HKJMA).The pavilion will be located in Hall 1 of the Hong Kong Convention & Exhibition Centre and will feature the Diamonds Show database of Israeli exhibitors available in English and Chinese.&nbs...Read More
(IDEX Online) - The 11.11 Global Shopping Festival kicked off at midnight in China and generated $1 billion in the first minute and eight seconds. By the first hour, that number had shot up to $12 billion, reports Alibaby Group Holding Limited. The 11.11 shopping festival began in 2009 with participation from 27 merchants as an event for merchants and consumers to raise awareness about the va...Read More
Aim-listed Vast Resources has appointed Paul Fletcher FD with immediate effect.He has been CFO of the company since February.AdvertisementFletcher, who has 25 years’ experience working in the commodity and financial services industries, succeeds former FD Roy Tucker.“I have great pleasure in welcoming Paul to the board. Paul has demonstrated expertise and commitment to Vast ever since...Read More
RAPAPORT... The parent company of Bailey Banks & Biddle, whichclaims to be the US's oldest nationwide jeweler, has filed for Chapter 11bankruptcy in Texas, according to a court document. Houston-based BBB Group estimated both assets andliabilities of up to $50,000 in the November 6 voluntary petition. Joseph Trowbridge Bailey and Andrew Kitchen founded thecompany in 1832 as Bailey & Kitch...Read More
KIMBERLEY, South Africa (Reuters) – The first South African project to bring illegal miners into the formal fold has been plagued by violence in diamond capital Kimberley, dealing a major blow to national efforts to stem a booming illicit trade.The project was launched 18 months ago in Kimberley, the site of a nineteenth-century diamond rush that lured fortune-seekers from the world over. Mi...Read More