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Rapaport Weekly Market Comment
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Markets quiet amid Jewish holidays with steady demand forRapSpec A3+ goods. Indian manufacturers delay Diwali shutdown to increasepost-festival inventory. Trading slow at Bharat Diamond Week. Liquidity lowwhile companies settle supplier bills and...
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Polished Markets
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Oct 17, 2019
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Rapaport News
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Research
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Oct 17, 2019
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Rapaport
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$14M Blue Diamond to Headline Christie’s Geneva
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A fancy-deep-blue diamond ring with a highestimate of CHF 14 million ($14.1 million) will go under the hammer at Christie’s GenevaMagnificent Jewels auction next month. The 7.03-carat stone,mounted by Moussaieff, will lead the November auction, Christie’s said...
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Polished Markets
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Oct 17, 2019
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Rapaport News
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US Consumer Spending Dips
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US retail sales stalled between Augustand September, indicating that consumer confidence may be waning in light ofthe escalating trade war. Total purchases for September —excluding automobiles, gasoline and restaurants — dipped 0.1% compared to theprevious...
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Retail
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Oct 17, 2019
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Rapaport News
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Former Zales Vice Chairman Marvin Zale Dies
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Marvin Zale, son of Zales founder Morris Zale, and former vice chairman of the jeweler, has died at 89. Born in Texas in 1930, Zale grew up in his father’s jewelrybusiness, which was established in 1924. He began his...
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Retail
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Oct 17, 2019
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Rapaport News
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Rio Tinto Output Falls Amid Lower Grades
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Lower mining grades and reduced ore availability contributedto a drop in Rio Tinto’s third-quarter diamond production, the company reportedWednesday. Output at its wholly owned Argyle mine in Australiafell 7% year on year, yielding 3.6 million carats...
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Mining
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Oct 17, 2019
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Rapaport News
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Chow Tai Fook Sales Slump
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Hong Kong-based jeweler Chow Tai Fook has reported adownward trend in sales across both mainland China and Hong Kong in the secondfiscal quarter. Same-store sales of gold products — at branches open for atleast 12 months...
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Retail
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Oct 17, 2019
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Rapaport News
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CIBJO Publishes Ethics Recommendations
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The World JewelleryConfederation (CIBJO) has produced a special report on ethics ahead of its annualcongress in Bahrain next month.“Weaving It All Together: An Ethical Status Report at the End of2019,” released on Wednesday, covers a variety of topics, ranging frominternational...
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Mining
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Oct 16, 2019
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Rapaport News
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Christie’s Hires West Coast Watch Expert
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Christie’s has appointed AntiquesRoadshow watch expert Michael Fossner to lead its west coast watchdepartment. The auctioneer has charged Fossner with leading appraisals whileguiding and growing the company in the region. He is also expected...
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Watches
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Oct 16, 2019
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Rapaport News
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Costco Sells $220,000 Diamond Ring
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Costco sold a diamond ring worth $220,000 in the fourth fiscal quarter, the membership-based warehouse retailer saidearlier this month. Executivevice president and chief financial officer Richard Galanti confirmed thesale during the company’s...
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Retail
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Oct 16, 2019
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Rapaport News
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Lucapa Tender Yields $10M
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Lucapa Diamond Company earned $10.4 million fromits latest sale of rough stones, bringing its total for the year to date to$45.9 million. The miner sold 5,469 carats from its Lulo mine inAngola...
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Mining
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Oct 16, 2019
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Rapaport News
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DEF Invests in Education on Three Continents
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The Diamond Empowerment Fund (DEF) has grantedits largest-ever award, to be shared among nine beneficiaries across three continents.The $470,000 training and education grant,released early last week, is designed to support girls’ education,entrepreneurship and youth...
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Financial-Legal
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Oct 15, 2019
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Rapaport News
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Alrosa Sales Decline at Slower Rate
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Alrosa’s sales fell 24% year on year to $258.7 million inSeptember, amid continued market weakness. However, the total was the highest in four months, and reflecteda noticeable recovery in the small-stone sector, the Russian...
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Mining
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Oct 15, 2019
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Rapaport News
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Lightbox to Debut at Bloomingdale’s, Reeds
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De Beers will partner with two major retailers topromote Lightbox, its brand of affordable lab-grown diamond jewelry. Lightbox’s $800-per-carat jewelry is set to be soldin select Bloomingdale’s stores, including in New York City and San Francisco,...
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Retail
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Oct 15, 2019
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Rapaport News
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Lab-Grown Sector Gears Up for Eco Audit
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Six synthetic-diamond companies have signed up for apilot program aimed at creating a sustainability standard for the sector. SCS Global Services, a third-party auditing specialist,will analyze companies’ environmental, social and governance records, with thegoal...
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Polished Markets
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Oct 15, 2019
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Rapaport News
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DPA Chief Lieberherr Steps Down
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Jean-Marc Lieberherr has resigned as CEO of the DiamondProducers Association (DPA), an organization he has led since its formation in2015. Lieberherr became the DPA’s first chairman in December 2015,before taking on the role of CEO in February 2016....
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Polished Markets
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Oct 15, 2019
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Rapaport News
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Diversity: A Business Opportunity
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Having a workforce that is more diverse not only makes goodbusiness sense, it makes good economic sense. Companies with a more inclusiveemployee base — i.e., a greater proportion of women and ethnically/culturallydiverse individuals — are more competitive in the...
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Polished Markets
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Oct 15, 2019
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Deborah Yonick
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Research
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Oct 15, 2019
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Rapaport
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Rapaport Weekly Market Comment
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Diamond market quietover Jewish holidays. Slight improvement in India ahead of Bharat Diamond Week,with buyers looking for polished before Diwali break (Oct. 27). Shortages inRapSpec A3+, nonfluorescent goods as manufacturers maintain low production.China...
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Polished Markets
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Oct 10, 2019
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Rapaport News
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India: Market Quiet Due to Holidays
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Short week due to GandhiJayanti national holiday. Few foreign buyers in Mumbai. Prices of 0.30 to 0.40ct., D-G, IF-VVS2 firming as inventory diminishes. Rough trading down.Manufacturers maintaining low production capacity ahead of Oct. 27 Diwalibreak. Round -1 point:...
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Research
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Oct 10, 2019
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Rapaport News
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