IDEX Online - Rough Market

Rough Market

The 813-carat Constellation Diamond has been brought to Israel to be laser cut in the first stage of its processing.
Posted: November 21, 2017, 3:00 am
De Beers Global Sightholder Sales sells around 90 percent of De Beers’ rough diamonds by value.
Posted: November 20, 2017, 2:00 am
Mark Boston passed away at the Royal Trinity Hospice in London, after 11 years of battling cancer, at the age of 71.
Posted: November 19, 2017, 1:00 am
Signet Jewelers and Tiffany & Co. lead the way in jewelry retail industry with other jewelers lagging far behind.
Posted: November 16, 2017, 12:00 am
De Beers reported a rise in demand ahead of the holiday season in the ninth sales cycle (Global Sightholder Sales and Auction Sales) of 2017.
Posted: November 14, 2017, 3:19 am
Decrease of 15 percent mainly due to lower sales of capital equipment in the third quarter, Sarine said.
Posted: November 14, 2017, 2:16 am
Miner reported net income of $27.7 million for the quarter ended September 30, and $33.1 million for the nine month period.
Posted: November 14, 2017, 12:28 am
Diamond discovered in the Kono district where a pastor unearthed a 709.1-carat stone in March.
Posted: November 13, 2017, 5:00 am
The Lucapa Diamond Company has recovered an exceptional high-value 129.58-carat diamond from the Lulo Diamond Project in Angola.
Posted: November 13, 2017, 4:00 am
Program gave participants chance to meet top manufacturers in India  and hold uninterrupted business meetings.
Posted: November 13, 2017, 2:00 am

IDEX Online - Polished Market

Polished Market

The 813-carat Constellation Diamond has been brought to Israel to be laser cut in the first stage of its processing.
Posted: November 21, 2017, 3:00 am
Shining Light Awards recognize emerging jewelry designers in Botswana, Namibia and South Africa.
Posted: November 21, 2017, 2:00 am
Mark Boston passed away at the Royal Trinity Hospice in London, after 11 years of battling cancer, at the age of 71.
Posted: November 19, 2017, 1:00 am
VOD Dubai International Jewelry Show, the region’s only B2B and B2B jewelry show, runs until November 18.
Posted: November 15, 2017, 12:47 am
Decrease of 15 percent mainly due to lower sales of capital equipment in the third quarter, Sarine said.
Posted: November 14, 2017, 2:16 am
Program gave participants chance to meet top manufacturers in India  and hold uninterrupted business meetings.
Posted: November 13, 2017, 2:00 am
The Israel Diamond Exchange has announced that the next International Diamond Week in Israel will be held from February 5 to 7, 2018.
Posted: November 9, 2017, 12:28 am
The tender continued double digit price growth with Argyle Everglow becoming most valuable stone in tender's 33-years.
Posted: November 9, 2017, 12:07 am
Annual congress in Bangkok took pace from November 5-7 and brought together some 150 official delegates and a total of 300 participants.
Posted: November 8, 2017, 4:25 am
Agreement formalized at CIBJO Congress in Bangkok after CIBJO Diamond Commission approved changes to its Diamond Book.
Posted: November 8, 2017, 1:00 am

Rapaport - News

RAPAPORT... Signet Jewelers’ sales fell in the third fiscal quarter due to hurricanes in the US and disruptions related to changes in the retailer’s credit services. Group sales slipped 2.5% and same-store sales — at outlets open for at least a year — dropped 5% in the three months to October 28, the US-based jeweler reported Tuesday. The company now expects same-store sales for the ...
Posted: November 21, 2017, 9:03 am
RAPAPORT... Hong Kong’s polished-diamond imports grew slightly in the third quarter, recent data from the municipality’s trade body showed. Shipments into the hub increased 0.6% to $4.71 billion during the period ending September 30, according to Rapaport calculations based on year-to-date figures from the Diamond Federation of Hong Kong, China. By volume, imports declined 3.4% to 5 mi...
Posted: November 21, 2017, 8:49 am
RAPAPORT... Swiss watch exports grew in October as demand from key Asian markets continued its recent upward trend. Total shipments increased 9% year on year to $1.86 billion (CHF 1.85 billion) for the month, according to data the Federation of the Swiss Watch Industry released Tuesday. Orders from Hong Kong jumped 16% to 246.9 million (CHF 245.2 million), while exports to China surge...
Posted: November 21, 2017, 5:32 am
RAPAPORT... Negotiations began immediately when Komba John-Bull and his four coworkers arrived at Pastor Emmanuel Momoh’s home on that fateful night on March 13, 2017. The team of diamond diggers was confident they had something significant and, as tradition dictated, were entitled to a dash — or stipend — from their financier, who owned the rights to the massive rock they’d found earlier ...
Posted: November 20, 2017, 9:45 am
RAPAPORT... Alrosa has dismissed two senior executives after a commission identified safety failings that resulted in the Mir mine flood in August. The Russian company fired Mikhail Lopatinsky, director of the Mirny mining and processing division, and Alexander Kisilichin, the department’s chief engineer, it said last week. The miner has reprimanded and imposed sanctions on other individu...
Posted: November 20, 2017, 9:33 am
RAPAPORT... An Israeli startup is set to receive up to $1.2 million from investors to launch a mobile payment app that will help diamond traders close deals on the spot, without needing to wait for funds to clear. Mazalit will enable users to finalize payment in under 10 seconds, with about 90% lower fees than most dealers currently have to pay when wiring money across borders, its founder ...
Posted: November 20, 2017, 9:23 am
RAPAPORT... Five storied fancy vivid yellow diamonds with a historical connection to the Cullinan family will go under the hammer in London next month. Three of the diamonds, which are step-cut and weigh 5.29 carats, 3.11 carats and 2.37 carats, form a brooch carrying a price estimate of $265,283 (GBP 200,000) to $397,924 (GBP 300,000), according to Bonhams, which will auction th...
Posted: November 20, 2017, 5:31 am
RAPAPORT... The Diamond Producers Association (DPA) has shifted to shorter video advertisements for the holiday season as it aims to market diamonds by capturing precious moments in couples’ relationships. Rather than telling more involved stories, as the DPA’s initial videos did, the new, 30-second commercials show snippets of the lives of couples in love. “The Reveal,” which the DPA debut...
Posted: November 20, 2017, 3:09 am
RAPAPORT... De Beers and Alrosa have released dates of their rough-diamond sales for 2018, with both miners maintaining their usual schedules. De Beers holds 10 sales, or sights, in Botswana every year, in which it sells about 90% of its rough supply to long-term clients, known as sightholders. Alrosa’s main contract sales are monthly, taking place in Moscow. De Beers’ final sight of ...
Posted: November 19, 2017, 9:35 am
RAPAPORT... Alrosa’s profit slumped in the third quarter as a fatal flood at the Mir mine forced the Russian company to devalue the asset. Net income fell 51% year on year to $219.6 million (RUB 12.95 billion) for the three months ending September 30, after the miner incurred a $125.1 million (RUB 7.38 billion) “impairment cost” as a result of the incident. Eight workers died in the August 4 flo...
Posted: November 19, 2017, 8:17 am
RAPAPORT... Mark Boston, a much-loved rough-diamond broker credited with driving forward India’s cutting industry, died last Monday at the age of 71. He passed away at Royal Trinity Hospice in London, having decided to stop treatment last month after an 11-year battle with cancer, his family said in a recent statement. Boston, chairman of rough brokerage H. Goldie, started his 45-...
Posted: November 19, 2017, 5:11 am
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Posted: November 16, 2017, 12:00 pm
Sentiment improves, with wholesale jewelers busy filling Christmas orders. Record $25.3B Alibaba Singles’ Day (11/11) sales signal strong mobile buying for upcoming holiday season. Polished trading stable. Rough market cautious, with low profitability after $455M De Beers sight. High polished inventory sinks Sarine 3Q sales -35% to $11M. Geneva auctions disappoint. Christie’s sells $106M (75%...
Posted: November 16, 2017, 11:00 am
Trading returning to normal after Diwali, with dealers filling US and Chinese holiday orders. Steady market for 1 ct., G-J, VS2-SI1 (3X, no-fluorescence) diamonds. Rough demand stable, despite high polished inventory levels. Factories ramping up polished production after Diwali break. Gold jewelry demand slow in 3Q due to new GST tax system, World Gold Council reports. Diwali sales average. ...
Posted: November 16, 2017, 10:58 am
J.C. Penney (+21%) led US retail stocks after reporting an increase in comparable-store sales. Birks Group (+12%), Kohl’s (+13%) and Macy’s (+10%) also gained in a generally strong week for the sector. European retail stocks fell, as management at Richemont (-3.3%) gave a cautious forecast for annual sales growth. Mining shares mainly fell, with Gem Diamonds (-5.2%) seeing the biggest decline. ...
Posted: November 16, 2017, 10:57 am
RAPAPORT... Gemfields sold $55 million worth of rough rubies in Singapore last week, the highest revenue figure the company has achieved for any auction to date. “The strong revenues from this auction…underscore the fact that market demand for responsibly sourced rubies from Mozambique remains in fine fettle,” said Sean Gilbertson, who took over as CEO of Gemfields following the miner’s J...
Posted: November 16, 2017, 8:38 am
RAPAPORT... A commission analyzing causes of a fatal flood at Alrosa's Mir mine has identified 16 company officials whose errors led to the accident. Management of the Russian miner is now required to determine in what way each of the people was personally responsible for the August flood, which killed eight workers, Alrosa said last week. Both technical and organizational factors, a...
Posted: November 16, 2017, 7:58 am
RAPAPORT... The future of our industry will depend on our success in enrolling the largest living generation: the millennials. Millennials are, in fact, one of the largest generations in history, and they are about to enter their spending years. But it’s a mistake to assume that this army of consumers is one unitary target. Given that they’re generally categorized as born between 1980 and 2000, it...
Posted: November 16, 2017, 5:27 am
RAPAPORT... The world’s largest known fancy intense pink diamond failed to sell at a disappointing Sotheby’s Geneva auction Wednesday, in which several star items did not find a buyer. Bidding on the cushion modified brilliant-cut, 37.30-carat, VS1-clarity Raj Pink started at $10 million (CHF 9.9 million), but stalled at $14.1 million (CHF 14 million), Reuters reported. Sotheby’s had estim...
Posted: November 16, 2017, 4:47 am
RAPAPORT... Prospective grooms are spending significantly more money and time on their engagement ring purchase than they did five years ago, research by wedding resource website The Knot showed. The average amount grooms spend on an engagement ring jumped 25% since 2011 to $6,351 this year, according to The Knot’s 2017 Jewelry & Engagement Study, released last week. Men are also ...
Posted: November 16, 2017, 4:09 am
RAPAPORT PRESS RELEASE, November 15, 2017, New York… The 709-carat Peace Diamond left Belgium and is on the way to New York where it will be shown to the world’s most important diamond buyers. The New York viewing of the Peace Diamond will take place from Nov. 20 through Dec. 4 when it will be sold at auction.Sierra Leone’s Minister of Mines the Hon. Alhaji Minkailu Mansaray presented the diamond ...
Posted: November 16, 2017, 3:22 am
RAPAPORT... About half as many exhibitors will attend the shorter 2018 Baselworld watch-and-jewelry fair compared to this year, after organizers scaled back the annual show in response to difficult market conditions. The upcoming March edition will feature only 600 to 700 exhibiting companies, versus about 1,300 this year, MCH Swiss Exhibition announced last week. The event will also last s...
Posted: November 15, 2017, 9:34 am
RAPAPORT... Koin International will sell the fifth-largest rough diamond in Sierra Leone’s history in a tender, the company said Monday. Meya Mining, which recovered the 476-carat diamond last week in the nation’s Kono district, has appointed the rough-tender specialist as marketing-and-sales agent for the stone.The diamond has been named the Meya Prosperity, after the mine where worker...
Posted: November 15, 2017, 6:49 am
RAPAPORT... A necklace featuring a 163.41-carat diamond fetched $33.7 million at Christie’s Geneva sale on Tuesday, setting a record price for a D-color, flawless stone sold at auction, Christie’s said. The rectangular-cut diamond, set in an emerald-and-diamond necklace, went for $206,266 per carat in front of more than 4,600 visitors at the Four Seasons Hotel des Bergues in Geneva, C...
Posted: November 15, 2017, 3:57 am
RAPAPORT... Mountain Province recorded a profit in the third quarter, less than a year after launching production at the Gahcho Kué mine in Canada. The miner posted a net income of $21.8 million (CAD 27.7 million) for the three months that ended September 30, versus a loss of $4.2 million (CAD 5.4 million) a year earlier, it said Monday. Commercial production at the mine began on March 1, w...
Posted: November 15, 2017, 3:51 am
RAPAPORT... Sarine Technologies' sales slid in the third quarter as a buildup of polished inventories resulted in manufacturers investing less in their operations.   Revenue fell 35% to $11.3 million in the three months ending September 30, reported the Israel-based company, which provides equipment for diamond manufacturing. The company slipped to a $530,000 loss, versus a profit of...
Posted: November 14, 2017, 8:27 am
RAPAPORT... Dealers reported a difficult but stable rough market as De Beers’ November sight closed with a value of $455 million — 4% lower than the same period a year ago. The rough market improved slightly from the October sight, which was the smallest sale of the year as Indian manufacturing slowed for Diwali. However, sightholders still noted weak profitability on De Beers goods ...
Posted: November 14, 2017, 6:54 am
RAPAPORT... Asian Star, an Indian diamond manufacturer, saw revenue jump 13% to $144.5 million (INR 9.46 billion) in the second fiscal quarter. Sales in the diamond segment grew 7.5% to $123.5 million (INR 8.08 billion) in the three months to September 30, including subsidiaries, the Mumbai-based company reported last week. Jewelry revenue jumped 38% to $28.1 million (INR 1.84 billion). Ev...
Posted: November 14, 2017, 5:24 am
RAPAPORT... Lucapa Diamond Company has recovered a 129.58-carat rough diamond at its Lulo mine in Angola — the eighth stone above 100 carats since production started at the deposit in August 2015. Testing on a Yehuda color machine showed the diamond was type IIa, D-color, Lucapa said Monday. The company also found a 78.61-carat diamond with those same specifications, it added. Lucapa is c...
Posted: November 14, 2017, 3:20 am
RAPAPORT... Fraudsters forged a Gemological Institute of America (GIA) inscription on a synthetic diamond to make it appear that the stone was the true bearer of a natural-diamond grading report, the institute said. The engraving on the polished diamond’s girdle contained a genuine GIA report number for a mined diamond the institute had graded in 2015, the laboratory explained. However, whi...
Posted: November 13, 2017, 8:31 am
RAPAPORT... J.C. Penney’s comparable jewelry sales grew in the third fiscal quarter, prompting management to predict a further increase for the holiday shopping period. “We had a strong third quarter of positive comps [comparable sales] from fine jewelry, and we expect to see this trend continue during the holiday season,” Marvin Ellison, the department-store chain’s chairman and CEO, said ...
Posted: November 13, 2017, 8:06 am
RAPAPORT... Shoppers bought $25.3 billion worth of merchandise through e-commerce platform Alibaba during Singles’ Day, the China-based company reported Sunday. The figures marked a 39% increase over last year’s numbers for the Chinese shopping holiday, which falls out each year on November 11 — hence its alternative title, the 11/11 Global Shopping Festival. In the first two hours alone, ...
Posted: November 13, 2017, 5:13 am
RAPAPORT... The Gemological Institute of America (GIA) has appointed three new members to its board of governors, the organization announced last week.  The new additions are Karen Evans, national director of the US Cyber Challenge (USCC) initiative and a partner at management consulting firm KE&T Partners; Lawrence Ma, founding president of the Diamond Federation of Hong Kong and ch...
Posted: November 13, 2017, 4:49 am
RAPAPORT... The largest round diamond in auction history will feature in Sotheby’s Magnificent Jewels sale in New York next month, carrying a price estimate of up to $6.2 million. The 110.92-carat, L-color, faint brown, VS1-clarity loose diamond (pictured, right) holds a Gemological Institute of America (GIA) report showing it has excellent polish, cut and symmetry, Sotheby’s said Th...
Posted: November 13, 2017, 4:00 am
RAPAPORT... Alrosa sold $337.6 million worth of diamonds in October as the rough market improved, the Russian miner reported. The figure was 9% higher than September, when factories were preparing to close for Diwali. That month, Alrosa allowed its contract-sales clients to reject up to 50% of allocated goods, instead of the usual cap of 30%, in response to the slowdown. Trading level...
Posted: November 12, 2017, 9:04 am
RAPAPORT... Richemont saw a sharp rise in jewelry sales in the first fiscal half-year as Asian consumer demand recovered, the luxury group reported Friday. Revenue from jewelry maisons — which include jewelry and watch sales at Cartier and Van Cleef & Arpels — jumped 15% to $3.69 billion (EUR 3.16 billion) in the six months ending September 30, the Geneva-based company said. Bo...
Posted: November 12, 2017, 7:53 am
RAPAPORT... A Sierra Leone mining operation discovered a 476-carat rough diamond at the Meya deposit in the nation’s Kono district last week, its owner announced Friday. Meya Mining, a subsidiary of Namibia-based conglomerate Trustco Group, found the diamond, which ranks as the fifth-largest rough ever found in Sierra Leone, according to Rapaport records. “Any value indication of t...
Posted: November 12, 2017, 5:24 am
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Posted: November 9, 2017, 11:17 am
Polished trade improving ahead of US holiday season, but India still slow after Diwali. Positive retail sentiment as jewelers prepare omni-channel platforms targeting millennials and female self-purchasers. Rough markets quiet, with small De Beers sight expected and cutters aiming to reduce inventory and raise profitability. Grib mine projected 2017 sales +16% to 4.4M cts., average price +4.5...
Posted: November 9, 2017, 11:00 am
RAPAPORT... Rio Tinto reported “double-digit” price growth at this year’s Argyle Pink Diamonds Tender, with Graff Diamonds among the companies putting in winning bids. Collectors and jewelers from 11 countries bought the 58 pink, red and violet diamonds originating from the mine in Australia, Rio Tinto said Thursday. These included the radiant-cut, 2.11-carat, fancy red Argyle Everglow (p...
Posted: November 9, 2017, 8:34 am