An 88.22-carat D, IF Type IIa oval cut diamond will headline Sotheby’s spring Magnificent Jewels and Jadeite auction in Hong Kong, slated for April 2. The diamond, cut from a 242-carat rough that was discovered in Botswana’s Jwaneng mine, carries a pre-sale estimate of between $11.2- and $12.7 million. According to Sotheby’s, the diamond is one of only three oval diamonds over 50 carats that have been offered at auction. The April 2 auction will also feature an emerald and diamond necklace by Van Cleef & Arpels alongside a specially curated collection of coloured gemstones and coloured diamonds of exceptional quality, Sotheby’s said.
Coloured gemstone producer Gemfields launched its #EveryPieceUnique promotional campaign in India with an installation at Mumbai’s High Street Phoenix mall over February 16 and 17. The campaign targets consumer engagement by offering visitors the chance to win a pair of earrings set with Gemfields Mozambican rubies, by posting a picture of the installation on social media. The installation showcased Gemfields’ half emerald and half ruby faceted female form, a rhino sculpture and a depiction of a flowering African baobab tree. The installation features Gemfields’ key campaign messages of transparency, a commitment to conservation and the company’s efforts to mitigate the impact of mining on the environment.
The Israel Diamond Institute (IDI) said that after a successful pilot last year, it will again hold an auction of special stones at the HKTDC’s Hong Kong International Diamond, Gem & Pearl Show in Hong Kong. The auction will be held at IDI’s Israel Diamond Pavilion, which this year will host 58 companies. The goods will be on view and bids may be placed between February 26 and 28. Progress on the bidding will be shown on screens located within the pavilion. The IDI said Israeli exhibitors will be presenting diamonds especially suited to Asian markets, with several companies showing very large and important stones and fancy coloured diamonds. Moreover, many of the exhibitors will also be showing specially designed pieces of diamond jewellery. As it did last year, the IDI said the...
ALROSA held a media preview of a collection of large coloured polished diamonds, including unique pink, bright yellow and pink purple gems. The star of the show was a pink oval diamond weighing 14.83 carats — the largest pink diamond in the history of Russia, ALROSA said. The rough it was cut and polished from was mined in 2017 at the Ebelyakh deposit in Yakutia. The largest pink diamond mined by ALROSA prior to the recovery of this stone was 3.86 carats. “Pink diamonds along with the blue ones are considered to be the rarest and most precious of all, and the size and clarity of this specimen makes it one of the best to be discovered anywhere in the world in recent years. I am sure that this diamond will be the most expensive in the history of Russia’s gem cutting industry,” said ALROSA...
The All India Gem and Jewellery Domestic Council (GJC) held the grand finale of the 8th edition of its National Jewellery Awards (NJA) in Mumbai on Tuesday. This year’s event honoured winners in 16 categories, including three for excellence, five for stores, three for designers and artisans and a student of the year award. Additionally, there were awards for corporate social responsibility and women’s entrepreneurship. GJC Chairman Anantha Padmanabhan commented,“We were overwhelmed to receive over 850 entries despite a challenging and volatile business environment. This shows the indomitable spirit of Indian jewellers.” Vice Chairman Shaankar Sen noted that the awards were a tribute to the talent and craftsmanship of the country’s “Make in India’ artisans, manufacturers and designers. He...
ALROSA announced it had sold $278.2 million worth of rough diamonds along with $3.4 million in polished in January this year. Company Deputy CEO Yury Okoemov commented, ”In January, market activity was lower than usual. After active restocking by the midstream in December 2018 (December sales were up 20 percent in a quarter-on-quarter comparison and up 46 percent year on year), January sales came lower. Sales in the diamond market are always cyclical, and apparently, we are seeing the expected correction after the peak values in previous periods.”
Having already undergone several expansions over the last few years, the 12th edition of the IIJS Signature show kicked off in Mumbai today in an even more expanded format. This year’s show features 650 gem and jewellery exhibitors along with 100 machinery exhibitors, all occupying 1,350 booths spread over 36,000 square metres. Many exhibitors said they have developed new product lines at competitive prices to engage retailers from across the country and parts of the Middle East and Asia who are looking for something fresh to get their sales year going. According to the show management, 18,000 trade visitors are expected over the 4-day show from 55 countries and 325 Indian cities. Pramod Agarwal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), which runs the show,...
Dutch Diamond Technologies announced it has created the world’s first ring that is entirely made from a lab-grown diamond. The 3,865-carat ring has been made from a 155 carat rough CVD lab-grown diamond, which was polished using laser cutting and traditional techniques into a ring with 133 facets. It has been graded by HRD Antwerp as E, VVS2, with no fluorescence, with Very Good Polish and Excellent Symmetry. It wasn’t until 2017 that it became technically possible to grow large enough mono-crystalline lab-grown diamond plates. ‘Project D’ as it is called, took a year to manufacture and was created to mark the company’s 10th anniversary. This is not the first ring to be created from a single diamond. In 2011, Swiss jeweller Shawish unveiled the world’s first wearable ring made from a...
CaratLane, the omni-channel Indian jewellery brand, plans a physical store expansion in the country’s metros and mini metros. CaratLane, which began as an online-only jewellery retailer, now has 50 physical stores in 20 Indian cities and offers customers its Try@Home service that allows them to try their selection of jewellery from the online offering in the comfort of their homes with no obligation to buy. The brand is now 62 percent majority-owned by the Tata industrial group’s Titan company that also owns the leading Tanishq jewellery brand. CaratLane owns 20 of its physical stores, while 30 are franchises. The omni-channel retail offering is delivering stellar results, with the company reporting a 60 to 70 percent annual sales growth. CaratLane says its expansion plans are focussed on...
Danish jewellery brand Pandora announced a turnaround strategy that envisages an annual cost saving of DKK 1.2 billion ($183 million) but will incur an anticipated restructuring cost of DKK 2.5 billion ($381 million) through this year and 2020. Pandora stock, which had lost 38 precent over 2018 in the wake of several profit warnings, surged 16 percent after the announcement. Still without a permanent chief executive ever since Anders Colding Friis was forced out after the first profit warning last year, Pandora, known for its mass-market charms and bracelets, is being run jointly by interim CEO Jeremy Schwartz, who was formerly the CEO of Body Shop, and recently appointed Chief Financial Officer Anders Boyer. The turnaround strategy involves cutting promotions, a move CFO Boyer says will...
ALROSA held its first auction of the year for special-size (over 10.8 carats) rough diamonds in Israel. A total of 92 large rough diamonds with a combined weight of 1,570 carats were sold for an aggregate $9.6 million. Firms from Israel, Russia, Hong Kong, Belgium, India, the United Arab Emirates and the United States participated in the auction. "The auction in Israel is the first in our schedule, and we are satisfied with its results. We will hold five more auctions here through to the end of this year,” said ALROSA United Sales Organisation Director Evgeny Agureev. He added, “We also continue to analyse the situation in the global diamond market and see some difficulties with demand. However, we expect the market to recover in the next two months.” ALROSA held six auctions for special...