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Podcast: Oversupply, Tariffs and Silver Linings
As the trade returns from its summer vacations and starts to look toward the holiday season, the Rapaport editorial team outlines the industry’s prospects for the rest of the year. It’s volatile out...
Polished Markets Aug 22, 2019 Rapaport News
Hong Kong airport protest
Trade Seeks Discount for Hong Kong Show
The Hong Kong Jewelry Manufacturers’ Association (HKJMA)is asking the organizers of the September show for a 25% discount for itsmembers, citing difficult market conditions due to the trade war and socialunrest in the city....
Polished Markets Aug 15, 2019 Joshua Freedman
HK protest
Hong Kong Riots Cast Cloud over Show
Diamond traders have raised concerns ahead of next month’s Hong Kong Jewellery & Gem Fair, as mass protests have caused chaos and dented local demand. The show will still take place as planned,...
Polished Markets Aug 13, 2019 Joshua Freedman
Hong Kong retail
Protests Dent Hong Kong Retail Outlook
Retail sales in Hong Kongare set to fall by 5% in 2019, with the decline expected to be even sharper inthe luxury-goods market, which includes jewelry. The new estimate, publishedlast week by PricewaterhouseCoopers (PwC), is a downgrade on its previousforecast. The...
Retail Jul 03, 2019 Rapaport News
Luk Fook
China Expansion Spurs Luk Fook Growth
Luk Fook’s revenue and profit grew in fiscal 2019, driven by an expansion of its network in mainland China.Overall revenue for the Hong Kong-based jewelry retailer rose by 9% to HKD 15.86 billion ($2.03 billion) in the year ending...
Retail Jul 01, 2019 Rapaport News
Caryl Capeci Chow Tai Fook
Chow Tai Fook Launches US Hub
Hong Kong-based jeweler Chow Tai Fook has launched abusiness hub in Boston that will supply products and services to US retailers. Chow Tai Fook North America (CTFNA) will operate as awholesaler, offering customized diamond...
Polished Markets May 08, 2019 Rapaport News
Sotheby's
Blue Diamonds Fail to Sell at Sotheby’s
Sotheby’s failed to find a buyer for three blue diamonds at its Hong Kong auction Tuesday. A cut-cornered, rectangular step-cut, fancy-vivid blue, 3.32-carat diamondring, valued at $5.9 million to $7.6million, was left unsold. The center stone...
Polished Markets Apr 04, 2019 Rapaport News
Sotheby’s
88ct. Oval Diamond Fetches $14M
A rare oval diamond sold for nearly $14 million at Sotheby’sin Hong Kong Tuesday, beating its high estimate. The oval brilliant-cut, 88.22-carat, D-color, flawless, typeIIa stone is one of only three oval diamonds over...
Polished Markets Apr 02, 2019 Rapaport News
Hong Kong March 2019 show
Oversupply an Issue at Hong Kong Show
Dealers at the Hong Kong International Diamond, Gem & Pearl Show expressedconcerns about sluggish polished demand and an oversupply of goods in the wholesalesegment.Inventory moved slowly despite busy traffic at the fair, which began this...
Polished Markets Feb 28, 2019 Joshua Freedman
Sotheby's
Rare 88ct. Diamond to Lead Sotheby’s Hong Kong
A flawless white diamond with a high estimate of nearly $13million will head up April’s Magnificent Jewels and Jadeite auction atSotheby’s in Hong Kong. The oval brilliant-cut, 88.22-carat, D-color, flawless, typeIIa stone is one of only three...
Polished Markets Feb 20, 2019 Rapaport News
Lucapa 46ct pink
Lucapa Predicts Premium from Angola Reforms
Angola is set to host its first diamond sale under newrules designed to improve transparency and prices.Sodiam, a state-owned diamond-marketing company, will this month offerseven large stones from Lucapa Diamond Company’s Lulo mine, including...
Rough Markets Jan 14, 2019 Joshua Freedman
HK
Hong Kong Luxury Sees Rare Drop
Retail sales of jewelry and other luxury items in Hong Kongdeclined for the first time in 17 months as global economic uncertainties impacted consumer sentiment.Revenues from jewelry, watches, clocks and other valuablegifts dropped 3.9% to HKD...
Retail Jan 06, 2019 Rapaport News
Bitcoin
Analysis: Crypto Firms Betting on Diamonds
Somewhere between the volatility of cryptocurrencies and thestability of diamond prices lies an opportunity for investors. That is, atleast, what several new initiatives to create diamond-backed crypto-coins arebetting on.In fact, developers of these coins, or “tokens,”...
Technology Dec 11, 2018 Avi Krawitz
HK
Hong Kong Polished Imports Climb
Polished-diamond imports to Hong Kong increased 11% in thethird quarter, according to data from the Diamond Federation of Hong Kong,China. The average price of imports jumped 15%, offsetting the lower volumes —a trend that reflects a shift...
Polished Markets Nov 18, 2018 Rapaport News
Bonhams
Bonhams to Sell Rare Chameleon Diamonds
Bonhams’s jewelry sale in Hong Kong will spotlight a rarenecklace featuring the largest collection of chameleon diamonds offered atauction, according to the company. The piece — which will lead the Rare Jewels andJadeite sale on November...
Polished Markets Oct 31, 2018 Rapaport News
Hong Kong skyline
China Positive Amid Short-Term Uncertainty
So far, 2018 has been a positive year for the diamond trade, with the US and China, the two largest diamond-jewelry markets, showing steady growth. In fact, in China, the jewelry-retail sector has experienced positive...
Research Oct 09, 2018 Avi Krawitz
Sotheby’s to Sell Rare
Sotheby’s to Sell Rare 5ct. Blue Diamond
A ring with a 5-carat, fancy-vivid-blue diamond center stone and white diamonds will headline Sotheby’s Magnificent Jewels and Jadeite fall sale in Hong Kong.The Ai diamond, named after the Chinese word for love, is estimatedat...
Polished Markets Sep 16, 2018 Rapaport News
Hong Kong Storm
Typhoon Shuts Down Hong Kong Fair
The Hong Kong Jewellery & Gem Fair closed a day early as the city braced for typhoon Mangkhut on Sunday. Authorities raised the warning signal to level 10 (the highest alert) Sunday morning, with Hong...
Polished Markets Sep 15, 2018 Rapaport News
Chow Sang Sang store credit Chow Sang Sang
Chow Sang Sang Fears Impact of Trade War
Hong Kong-based jeweler Chow Sang Sang warned that trade tensions may impact its earnings for the remainder of 2018, even after first-half sales grew.“Though the results of the first half of 2018 looked...
Mining Aug 28, 2018 Rapaport News
Swatch watch
Hong Kong Powers Swiss Watch Exports
Asian demand drove a 7% increase in Swiss watch exports in July,according to data the nation’s timepiece association released Tuesday. Total shipments rose to $1.84 billion (CHF 1.82 billion),the Federation of the Swiss Watch Industry reported. Orders...
Watches Aug 22, 2018 Rapaport News
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