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Rapaport Weekly Market Comment
Polished prices firm amid shortages and improving holiday orders. Trading restrained due to continued rise in Covid-19 cases. Jewelers preparing 4Q marketing with emphasis on e-commerce strategies to drive growth. Retailers pushing dealers for memo....
Polished Markets Sep 24, 2020 Rapaport News
Rapaport TradeWire September 24, 2020
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Research Sep 24, 2020 Rapaport
Tiffany Sydney flagship
Tiffany to Track Diamonds Down to the Mine
Tiffany & Co. plans to achieve 100% traceability of diamonds and precious metals in the coming years as part of a sustainability pledge it released this week.The retailer aims to track all diamonds weighing 0.18 carats or more to the...
Retail Sep 24, 2020 Rapaport News
De Beers Survey 150
Diamond Sales Set for Resurgence – De Beers
Both male and female US consumers are more likely to purchase and receive diamond jewelry over the next six months than they did during prior coronavirus waves, according to a De Beers survey.Women are also...
Retail Sep 24, 2020 Rapaport News
Polished diamond in loupe
Diamond Grading Gets an International Standard
The International Standards Organization (ISO) has approved its first grading guidelines for polished diamonds in an effort to achieve consistency among laboratories.The new ISO 24106 specifies the terminology, classification and methods that labs...
Polished Markets Sep 24, 2020 Rapaport News
E-commerce
Trend Report: Covid-19 Driving Move to Digital
Las Vegas, September 24, 2020As the diamond industry begins its recovery from the initial impact of Covid-19, its once-lagging progress toward digital is being vastly accelerated. While this will not be a rapid transition...
Polished Markets Sep 24, 2020 John Costello
Jewlery display 150
Jewelers of America Seeks Answers on Diversity
Jewelers of America (JA) and National Jeweler have launched a diversity survey to help comprehend the position of Black Americans in the fine-jewelry industry.The study, which will address hiring practices, inclusion policies and how racial...
Retail Sep 24, 2020 Rapaport News
Coronavirus
Coronavirus Updates: Impact on the Diamond Trade
The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. Here, we present a one-stop, running news feed on industry events impacted...
Polished Markets Sep 24, 2020 Rapaport News
Dominion diamond sorting 150
Dominion Restarts Rough Sales
Dominion Diamond Mines has sold $46 million worth of rough at its first diamond sale since March, enabling the company to repay some of its debts amid insolvency proceedings.The miner expects to sell approximately $8 million...
Mining Sep 23, 2020 Rapaport News
ZCDC 150
Zimbabwe State Diamond Miner Gets New CEO
Zimbabwe’s state-owned diamond miner has hired Mark Mabhudhu as CEO in an effort to help it achieve its goal of reaching $12 billion in revenue from its mining projects by 2023.Mabhudhu will step down as executive director of the diamond...
Mining Sep 23, 2020 Rapaport News
Rough Diamond Sorting
De Beers Reduces Prices of Smaller Rough
De Beers lowered prices of rough diamonds below 1 carat as the positive sales momentum that began last month continued during this week’s sight, sightholders told Rapaport News.The reductions for the September sight are...
Rough Markets Sep 23, 2020 Joshua Freedman
Rough sales 150
Rough Sales Pick Up as Market Begins Rebound
Miners have seen “encouraging” signs of recovery in the diamond market as they resume rough sales following an extended period of weak demand.Mountain Province garnered $8.9 million from the sale of 210,661 carats from its Gahcho...
Mining Sep 22, 2020 Rapaport News
IGI 150
IGI Enhances Security of Grading Reports
The International Gemological Institute (IGI) will introduce new grading reports that are more durable and easier to read, and have additional layers of security to protect against counterfeiting.The new certificates, which the lab...
Polished Markets Sep 22, 2020 Rapaport News
Tiffany Joshua LOndon 150
LVMH-Tiffany Trial Set for January
A US court has approved Tiffany & Co.’s request to fast-track its lawsuit against LVMH, scheduling a four-day trial starting January 5, 2021.The timeline means a ruling would come after the final deadline for LVMH’s takeover...
Retail Sep 22, 2020 Rapaport News
VOICE 2020
VicenzaOro Lifts Sentiment Despite Slow Sales
VicenzaOro staged the first major international jewelry trade fair since before Covid-19 amid strict safety measures, with buyers booking modest orders.Attendance was well below pre-pandemic levels due to the absence of participants...
Polished Markets Sep 21, 2020 David Brough
Gem Diamonds 150
Letšeng Yields Two More Large Stones
Gem Diamonds has recovered an additional two large, high-quality diamonds from its Letšeng mine in Lesotho.An “exceptional” quality, 166-carat, type II diamond was unearthed last week, the same day the company found a yellow...
Mining Sep 21, 2020 Rapaport News
Charles & Colvard lab-grown
Charles & Colvard Embraces Lab-Grown Diamonds
Charles & Colvard, the producer of synthetic-moissanite jewelry, has launched a line of bridal and fashion pieces featuring lab-grown diamonds.“There is a growing awareness of and demand for lab-created gems,” Don O’Connell, the company’s CEO, said...
Retail Sep 21, 2020 Rapaport News
Akil Zubir Alrosa
Alrosa Names New Belgium Chief
Alrosa has appointed Akil Zubir as managing director of its Belgium office, the miner said Thursday. He will succeed Sergey Panchekhin, who has worked for the company for more than 20 years and plans...
Mining Sep 21, 2020 Rapaport News
Bonhams Leslie Roskind 150
Bonhams Appoints Hong Kong Jewelry Head
Bonhams has promoted Leslie Roskind to lead its Hong Kong jewelry department, it said Monday.Roskind, who has been with Bonhams since April 2019, will oversee the procuring and selling of jewelry in the municipality,...
Polished Markets Sep 21, 2020 Rapaport News
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Rapaport Weekly Market Comment
Rising expectations for holiday season. Deloitte predicts 1.5% growth in US retail sales, driven by 25%-35% spike in e-commerce. Jewelers with strong online and social media presence doing well; others struggling. Trading momentum slowed...
Polished Markets Sep 17, 2020 Rapaport News
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