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De Beers Sales Slump 25% in May
De Beers’ sales fell to their lowest level in more than ayear and a half, as a slowdown in the Indian manufacturing sector hit roughdemand. Revenue dropped 25% to $415 million for the fourth salescycle of the year, which...
Rough Markets May 21, 2019 Joshua Freedman
Sotheby’s to Sell Treasure Chest of Luxury Watches
A private collection of more than 800 luxury watches will gounder the hammer at four Sotheby’s auctions in London, Geneva, New York andHong Kong over the coming year and a half. The Masterworks of Time sale...
Polished Markets May 21, 2019 Rapaport News
Blue Nile
Blue Nile Reveals Which Shapes Sell Best
Round diamonds have long been the most popular in the US, but fancy shapes also have a following in certain cities, according to a study by Blue Nile. Round-cut diamonds continue to be the most popular shape inmost...
Mining May 21, 2019 Rapaport News
Frederick Goldman
Frederick Goldman Launches New Synthetics Facility
Frederick Goldman has opened a lab-grown manufacturing center inMexico as part of its new jewelry supply business. Jewelry SolutionsGroup manufactures custom diamond jewelry and engagement rings, delivered to clients within a week. The venture is comprised...
Polished Markets May 20, 2019 Rapaport News
GIA Spots Natural-Synthetic Hybrid Diamond
The Gemological Institute of America (GIA) has discovered asynthetic layer that improved the weight and color of a natural diamond, and haswarned that the phenomenon may be happening more often.The cushion modified brilliant, 0.64-carat...
Technology May 20, 2019 Rapaport News
India Credit Slowdown Squeezes Sarine Profit
Sarine Technologies posted a loss in the first quarter ascredit problems in the Indian manufacturing sector led to softened demand forits equipment. The diamond-technology company reported a net loss of $1.4million, versus a profit of $3.1 million for...
Polished Markets May 20, 2019 Rapaport News
Lab Grown Diamond Council
Industry Launches New Lab-Grown Association
Two jewelry veterans have debuted a group that aims toraise awareness of, and demand for, lab-grown diamonds in the US. The Lab Grown Diamond Council (LGDC) will introduce newinitiatives for the synthetics...
Polished Markets May 20, 2019 Rapaport News
Jewelry Sales Rise at Cartier, Van Cleef
Jewelry sales at Richemont — the owner of Cartier and VanCleef & Arpels — increased 10% in the past fiscal year, with growth in all regions and channels. Proceeds from the category rose to EUR 7.08 billion...
Retail May 19, 2019 Rapaport News
Alrosa Profit Dips Amid Shift to Smaller Stones
Alrosa’s profit decreased in the first quarter as its sales mix shifted to lower-value goods. Net profit fell 27% year on year to RUB 24.1 billion ($371.6 million) forthe period, the miner said last week....
Mining May 19, 2019 Rapaport News
RapNet Offers Jewelry Trading to the Industry
RAPNET PRESSRELEASE, May 19, 2019, Las Vegas … RapNet,the world’s largest marketplace for diamonds and jewelry, is releasing its newjewelry trading platform to the industry. Following extremely positivereactions when RapNet introduced its new...
Technology May 19, 2019 Rapaport
Lucapa Unearths 130ct. Rough Stone
Lucapa Diamond Company has recovered a 130-carat, gem-qualitydiamond from its Lulo alluvial mine in Angola. The stone is the miner’s 13th over 100 carats todate, and its second in that size category this year,...
Mining May 19, 2019 Rapaport News
Rapaport TradeWire May 16, 2019
Research May 16, 2019 Rapaport
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Rapaport Weekly Market Comment
Rising expectations for Las Vegas shows. Good demand for0.70 to 1.99 ct., G-J, VS-SI, RapSpec A3+. Other categories weak. Large-stonedealers cautious amid high-end slowdown. Christie’s Geneva garners $62M (87% bylot) as cushion,...
Polished Markets May 16, 2019 Rapaport News
India Flag
India: Dealer Trading Quiet
Cautious mood amidrumors more businesses closing. Dealer trading quiet with many extendingtheir summer vacation due to slow orders. US and Israeli buyers in Mumbailooking for bargains before Las Vegas shows. Liquidity tight and...
Research May 16, 2019 Rapaport News
Siba Diamond
118ct. Yellow Smashes Estimate at Christie’s
A diamond bought in memory of late diamantaire Sam Abram sold for more than double its high estimate at Christie’s Geneva auction Wednesday. The cushion brilliant-cut, 118.05-carat, fancy-yellow,VS2-clarity stone fetched $7.1 million, or $60,000 per...
Polished Markets May 16, 2019 Rapaport News
Sam Abram
‘King of the Blues’ Sam Abram Dies
The diamond industry lost one of its most colorful characters when Sam Abram died last week at the age of 78. Often referred to as “King of the Blues,” Abram, a prominent buyer on the Sotheby’s-Christie’s auction circuit,...
Polished Markets May 16, 2019 Rapaport News
De Beers Namibia
De Beers to Build $468M Diamond-Mining Ship
De Beers will increase production at Debmarine Namibia by 500,000 carats per year through the construction of a new diamond-recovery vessel, it said Thursday. The ship, the seventh in De Beers’ fleet, will increase annual output from the...
Mining May 16, 2019 Rapaport News
Alrosa Purple
11ct. Purple Expected to Fetch Over $10M
Hong Kong-based M&B Limited expects to sell a record-setting purple diamond for more than $10 million, after buying the stone from Alrosa. The cushion modified brilliant-cut, 11.06-carat diamond isthe largest fancy-deep-purple-pink stone...
Polished Markets May 15, 2019 Rapaport News
jewelry tariffs 150
US Tariff Hike Could Impact Jewelry Trade
The US diamond and jewelry industry is facing the possibility of higher tariffs on goods from China as the trade warescalates.The Trump administration has proposed a levy of up to 25% on products from China worth a total of $300 billion, the...
Retail May 15, 2019 Rapaport News
Storied Necklace Makes Bold Return at Sotheby’s
Sotheby’s brought in $42 million at its Genevaauction this week as an emerald and diamond necklace with royal connections fetched $3.6 million. The Van Cleef & Arpels Art Deco piece, which includesdiamonds, as well as 11 cabochon...
Polished Markets May 15, 2019 Rapaport News
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