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De Beers Lowers 2020 Production Forecast
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De Beers has reduced its production outlook for next year and beyond amid uncertainty about the health of the diamondmarket.The miner now expects to recover between 32 million and 34million carats in 2020, compared to its...
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Mining
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Dec 11, 2019
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Rapaport News
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Phillips Nets $5.4M at New York Sale
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A blue diamond ring by Tiffany & Co. was the top sellerat Phillips’ New York sale, leading the $5.4 million auction. The cut-cornered square modified brilliant-cut, 3.02-carat,fancy-intense-blue, VS2-clarity diamond ring fetched $1.6...
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Polished Markets
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Dec 11, 2019
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Rapaport News
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Alrosa Sales Reach Six-Month High
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Alrosa’s sales rose 5% year on year to $287.8 million inNovember, as the manufacturing sector began to rebound, the Russianminer said Tuesday. The monthly sales are the highest the company has reportedsince April, and the...
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Mining
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Dec 10, 2019
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Rapaport News
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Blue Diamond Earrings Score Big at Bonhams
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A pair of blue diamond earrings fetched just under $1.3 million atBonhams’ New York Jewels sale, beating its high estimate. The set features a marquise-shaped brilliant cut,fancy-intense-blue diamond with VS1 clarity, weighing 1.81...
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Polished Markets
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Dec 10, 2019
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Rapaport News
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DEF Rebrands as Diamonds Do Good
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The Diamond Empowerment Fund has changed its name to Diamonds Do Good to simplify its identity within the industryand resonate more with consumers. The move, announced last week, is designed to align theorganization’s branding in the...
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Rough Markets
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Dec 10, 2019
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Rapaport News
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Gem Diamonds Digs Up 114ct. Yellow
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Gem Diamonds has recovered a 114-carat yellow diamond at itsLetšeng mine in Lesotho, the fourth of that color above 100 carats this year. The miner found the type I stone on Monday, a week afterunearthing a 93.5-carat, high-quality...
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Mining
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Dec 10, 2019
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Rapaport News
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Petra Forced to Halt Production in South Africa
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Petra Diamonds has had to put operations on hold at itsthree South African mines, due to a restriction on power usage enforced by the local electricity provider. Eskom has told the miner to limit its power usage to “essential...
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Mining
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Dec 10, 2019
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Rapaport News
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Can Nanotechnology Save the Diamond Trade?
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Diamtek hopes to use its laser-inscribing technology as a catalyst to make the diamond industry more attractive to lenders. It’s not easy for a diamantaire to compete in the emerging diamond-traceability market, admits Bruno Scarselli, a New York-based supplier...
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Technology
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Dec 09, 2019
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Avi Krawitz
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Sotheby’s Hires Asia Jewelry Head
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Sotheby’s has appointed Wenhao Yu as deputy chairman ofjewelry for Asia, to help strengthen its expertise and sourcing capabilitiesand expand its business in the region. Yu was previously at Poly Auction Hong Kong, where he founded and...
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Polished Markets
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Dec 09, 2019
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Rapaport News
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Alrosa Identifies Potential New Diamond Resources
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Alrosa has identified three new exploration sites that couldpotentially yield 17.9 million carats of rough across their lifespan, according to preliminaryestimates.The sites are located close to Alrosa’s Mir mine in the Yakutia region of Russia....
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Mining
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Dec 09, 2019
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Rapaport News
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Ex-Pandora Exec Joins J.C. Penney
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J.C. Penney has appointed Karl Walsh as chief digitalofficer, charging him with overseeing improvements to its e-commerce platforms and customer experience. Walsh waspreviously chief digital officer at Danish jeweler Pandora, a role he took onin...
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Retail
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Dec 09, 2019
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Rapaport News
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Christie’s Garners $7M at Paris Auction
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Christie’s brought in $6.9 million from its Fine Jewels salein Paris, with a fancy orangey-pink diamond ring fetching more than eight timesits high estimate. The old-cut, 6.32-carat, type IIa, VS2-clarity diamond wasthe...
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Polished Markets
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Dec 08, 2019
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Rapaport News
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Watches of Switzerland Hires New Marketing VP
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Watches ofSwitzerland has appointed Katie Reed vice president of marketing for the US. She will be responsible for all North American communications for the brand, as well as itsMayors subsidiary. Reed was previouslyvice president...
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Retail
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Dec 08, 2019
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Rapaport News
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Tiffany Launches Men’s Pop-Up Store
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Tiffany & Co. has opened a one-month holiday pop-up shopin New York featuring its men’s collection. The store, which will be open from December 6 to January 6,will carry items from the jeweler’s Tiffany...
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Retail
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Dec 08, 2019
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Rapaport News
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Cartier Necklace Smashes Estimate at Bonhams
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An Art Deco aquamarine and diamond necklace by Cartierfetched more than triple its high estimate at Bonhams' London Jewels sale. The Cartier piece, which is dated from 1940 and features 170carats of aquamarines, sparked an international...
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Polished Markets
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Dec 08, 2019
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Rapaport News
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Research
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Dec 05, 2019
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Rapaport
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Rapaport Weekly Market Comment
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Jewelers and memo dealers gaining confidence afterpositive start to holiday season. E-commerce driving growth, with record $9.4Bpurchases on Cyber Monday, according to Adobe Analytics. NRF counts 189.6Mshoppers and average spend +16% to $362 over...
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Polished Markets
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Dec 05, 2019
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Rapaport News
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India: Buyers Looking for Goods
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Buyers actively lookingfor goods amid scarcity of better-quality RapSpec A3+ diamonds that are indemand. Very little new supply available since manufacturers decreasedproduction over last five months. Rough orders expected to improve at nextweek’s...
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Research
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Dec 05, 2019
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Rapaport News
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Tiffany Sales Stall as Tourist Spending Dries Up
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Sales at Tiffany & Co. were flat at $1.01 billion in thethird fiscal quarter as increases in mainland China compensated for weakspending in the US and Hong Kong. Revenue declined 4% to $422.5 million in the Americas region assales to tourists...
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Retail
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Dec 05, 2019
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Rapaport News
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Signet Raises Full-Year Outlook
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Signet Jewelers’ shares jumped 6% in early trading Thursdayafter the retailer increased its sales forecast for the current fiscal year. The jeweler adjusted its guidance following a rise insame-store sales in the third fiscal...
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Retail
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Dec 05, 2019
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Rapaport News
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