You are here

03 Oct
Coloured gemstone producer Gemfields has launched a global advertising campaign aimed at raising awareness of responsible sourcing in the coloured gemstone industry and promoting Zambian emeralds and Mozambican rubies. The campaign focusses on three key values — transparency, integrity and legitimacy — and highlights the breadth of consideration involved in responsibly supplying coloured gemstones to global markets.  Called ‘Every Piece Unique’, the campaign film is set in a contemporary art gallery, closing for the night, when the sculptures, including a faceted emerald and ruby female figure, come to life through movement and dance. Each character moves with unique style, unveiling its distinctive role in the Gemfields ecosphere.  “We wanted to bring to life the many stories behind...
01 Oct
The Diavik 'Stars Of The Arctic'
Rio Tinto and Dominion Diamond Mines have revealed three large rough diamonds from their Canadian diamond mine that will be tendered to diamond specialists from around the world. Collectively known as the Diavik Stars of the Arctic, the three rough diamonds showcase a rare combination of size, quality and colour from the Diavik diamond mine in the remote Northwest Territories of Canada, 220 kilometres south of the Arctic Circle.  The Diavik Stars of the Arctic will headline Rio Tinto’s forthcoming ‘Specials’ tender, which showcases rough diamonds greater than 10.8 carats. Taking their inspiration from constellations across the night skies of the North, The Diavik Stars of the Arctic comprise: Vega of the Arctic, 177.71 carats; one...
28 Sep
While saying that it welcomed the Indian government’s increase in import duty on polished diamonds and coloured gemstones, along with lab-grown diamonds to 7.5 percent and that on jewellery to 20 percent as a means of tackling the country’s current account deficit (CAD), the Gem & Jewellery Export Promotion Council (GJEPC) said however, that the measure would impact exports and trade. GJEPC Chairman Pramod Agarwal said in a press release, “India is a global leader in diamond processing. It is not just a hub for processing rough, but also caters to varied forms of re-processing of diamonds and diamond jewellery. A substantial amount of cut and polished diamonds and coloured gemstones sold to clientele world over, in the form of either loose or set in jewellery, is imported for re-...
28 Sep
The 5.03-carat fancy pink diamond
A 5.03-carat, VS1 clarity fancy pink diamond sold for £2.23 million ($2.94 million) at Bonhams London Fine Jewellery on September 26. The sale set an auction world record price with a $583,551 per carat price, overtaking the previous fancy pink per-carat record of $528,021 set at the Sotheby’s Geneva auction in May 2016. Bonhams UK Director of Jewellery Emily Barber noted, “This was due to a number of factors — its size (it’s exceptionally rare to see a pink over five carats on the market today), its even colour saturation and its extraordinarily elegant cut.” The overall sale total was £6.94 million ($9.06 million), with 89 per cent lots sold by value. A fancy-coloured diamond three-stone ring circa 1910, also sold at the auction...
27 Sep
The Indian government has raised the duty on the import on polished diamonds and coloured gemstones from 5 to 7.5 percent, that on lab-grown diamonds by the same amount and on jewellery and components of jewellery from 15 to 20 percent. A similar import duty hike has been imposed on precious metal parts for gold- and silversmiths. The duty increases on a total of 19 items including refrigerators, compressors for air conditioners and aviation turbine fuel, are part of the government’s efforts to reduce the country’s current account deficit (CAD), currently estimated at 2.8 percent of GDP. The government has said that a large trade deficit and a rupee that has weakened against the US dollar have put a great deal of pressure on the CAD and the measures are intended to curb any further...
27 Sep
Coloured gemstone producer Fura Gems announced the completion of first phase of the bulk sampling program at its Coscuez emerald mine in Colombia. Drilling data, along with the bulk sampling results, will contribute to a maiden mineral resource estimate expected to be published in the fourth quarter of this year. Company President and CEO Dev Shetty observed, “We have gained a comprehensive understanding of the geology and possible mining methods and we have developed a culture of workplace safety. We are now continuing with the next phase of our Bulk Sampling Program with an even greater confidence on our vision of a long term mine plan at Coscuez.” He added, “Through our phase one programme, we have found a wide range of quality in our emerald production, including the 25.97 carat ÄRE...
27 Sep
ALROSA announced that its ‘True Colours’ auction of polished fancy coloured diamonds in Hong Kong realised $9 million. The company said in a press release that 210 diamonds were sold in the first round. The bidding was very active, and most of the lots were sold for well above their starting price. The ‘hero stones’ — the stars of the collection with a particularly rare combination of qualities, generated enormous interest from bidders. One such ‘star', which attracted a lot of attention from buyers around the world, was an oval cut Fancy Vivid Orange-Yellow diamond weighing 15.11 carats. During the course of the bidding the diamond doubled in price. "The collection of large coloured stones — all cut by our company — which we brought to Hong Kong, was the biggest in ALROSA's history. We...
27 Sep
De Beers Group, in partnership with United Nations Women, announced the launch of a three-year capacity-building programme to improve the livelihoods of more than 1,200 women micro-entrepreneurs in Botswana, Namibia and South Africa. The programme is designed to equip women micro-entrepreneurs with business and management skills to build their confidence and capacity to operate and grow successful small businesses. It will focus on providing training to enhance understanding of business concepts, including accessing markets, increasing market share, generating income, creating jobs, and supporting effective decision-making, communication and negotiation skills. Tailored specifically for each country, the programme will be delivered with local implementation partners and focus on regions...
26 Sep
Online commerce behemoth Amazon has filed a patent with the US patent office for a new line of its own jewellery under the For Keeps by Amazon brand. According to the filing, the patent can be used for the online retail sales of jewellery. Filed on September 19, the patent application includes a wordmark logo. Observers say an Amazon-owned precious metal and precious stone brand could be a major online disruptor. Currently, Amazon’s online jewellery offering includes its own Amazon Collection which is mainly plain jewellery, some of which includes cubic zirconia, at affordable prices. Amazon has been under fire lately for marketing its own brands on its platform. European Union Competition Commissioner Margrethe Vestager and US Senator Elizabeth Warren have said that Amazon uses data from...
25 Sep
The October 8-10 Bharat Diamond Week is set to welcome many representatives of diamond and jewellery companies who were planning to visit the Hong Kong Jewellery and Gem Fair but had to cut short or cancel due to Typhoon Mangkhut, which battered Hong Kong. The typhoon led to the closure a day early of the initial part of the show dedicated to loose diamonds at the Asia-World venue.  Bharat Diamond Bourse (BDB) Vice-President Mehul Shah, who heads the Bharat Diamond Week project, said, “Since the typhoon struck, we have been contacted by many diamond buyers who were intending to visit the Hong Kong show. They had to readjust their plans because they were unable to visit exhibitors on their lists.” He added, “The Hong Kong fair is a vital one for the global diamond industry, especially in...
25 Sep
WFDB President Ernie Blom
With a month to go before the opening of the 38th World Diamond Congress in Mumbai, the World Federation of Diamond Bourses (WFDB) is fine-tuning the agenda for its meetings, with the recent US Federal Trade Commission's revised Jewellery Guides and banking among the foremost issues for discussion. "There is certainly no shortage of issues to be debated by our bourse presidents and delegations from across the world," said WFDB President Ernie Blom. "We will be discussing the US Federal Trade Commission's revised Jewellery Guides, which we believe were too far skewed to the advantage of the laboratory-grown diamond sector. Along with a wide range of industry bodies, we created diamond terminology that can be accepted in the United States,...
25 Sep
The pair of Harry Winston diamond necklacesoriginally owned by Katherine Domyan
Two diamond fringe necklaces weighing a total of 152.5 carats, along with a 23.13-carat emerald-cut diamond ring, all signed by Harry Winston, were among the top performing lots at the Bonhams New York fine jewellery auction on September 21. The diamond jewellery belonged to the Olympic swimming gold medalist Katherine Domyan. The first of her diamond necklaces, with a total diamond weight of 86.30 carats, sold for $492,500. The second, with a total diamond weight of 66.20 carats, sold for $324,500. Another two Harry Winston lots belonging to Domyan which caught the eye of buyers, were A 23.13-carat emerald-cut diamond ring which sold for $444,5000 against its pre-sale estimate of $250...
24 Sep
London-based online luxury marketplace Farfetch raised $885 million in an initial public offering (IPO), giving the company a valuation of $6.2 billion. The company sold 44.2 million shares at a premium of one dollar on its pre-IPO price range of $17-$19 per share. The stock opened its very first day of trading last Friday at $27 per share and touched an intra-day high of $30.60. Founded in 2008 by Portuguese entrepreneurs José Neves as a platform to help local high-end boutiques reach broader audiences, Farfetch later evolved into a tool through which over 700 luxury brands could sell directly to consumers in over 190 countries. Farfetch generated revenue of $385 million in fiscal 2017, mainly through commissions on sales from its website. It is still, however, a loss-making proposition...
20 Sep
ALROSA said it realised $12.6 million from its recent auction of ‘special size’ rough diamonds (over 10.8 carats) in Vladivostok. The company sold 108 gem-quality lots with total weight of 2,003 carats. ALROSA said in a press release that 76 companies from Russia, mainland China, Hong Kong, the US, Israel, Belgium, India and UAE took part in the auction. "The Far East is still of strategic interest for us in terms of expanding cooperation with China, and we traditionally invite companies from this country to participate in our auctions. The auctions in Vladivostok have been particularly successful this year. We sold more than 100 diamonds of excellent quality at the latest auction, and got a good premium to the starting price. We plan to hold the next auction in Vladivostok either in late...
20 Sep
After a more than 50 percent fall in Danish jewellery brand Pandora shares since May, private equity groups including KKR & Co, Bain Capital and Carlyle are reviewing a potential takeover of the company, reports Reuters quoting Italian financial newspaper Il Sole 24 Ore which first put out the story without citing sources. Pandora shares rose as much as 10 percent after the story was published. Pandora and Bain reportedly declined to comment, while KKR and Carlyle were said to be not immediately available for comment. Pandora ousted Chief Executive Anders Colding Friis last month, after the company issued a profit warning that led to a $1 billion drop in the company's share value. The former CEO was blamed by investors for not clearly communicating the company’s financial situation...
19 Sep
Strong demand from China has driven Asia-Pacific growth
The second quarter of this year saw jewellery sales increase by an average 5 percent worldwide in a year-on-year comparison, except in India, where sales dropped, according to research published by Russian diamond mining major ALROSA. In the Asia-Pacific region, jewellery sales grew by as much as 17 percent. This high growth was driven by the continuing expansion of various local players, made possible by the growing demand for diamond-based jewellery in mainland China. Another factor that made sales more stable was the improvement of tourist traffic in Hong Kong and Macao. In other key regions (North America, Europe, and Japan), sales grew between 3 and 5 percent. The ALROSA research said it bears pointing...
18 Sep
The 98-carat rough that is one of the lots on offer
ALROSA has initiated an auction of 81 diamonds of over 10.8 carats each, in New York city. Featured in the lots on offer are a stone of over 100 carats and one of 98 carats, that is transparent and has a yellowish hue. Both stones were mined at the Yubileinaya pipe in Yakutia. "Such large and pure diamonds are extremely rare in nature. This is a real find, and we are proud that we can now offer such products around the world. Moreover, we brought 20 fancy light yellow coloured stones that are in great demand in the market to New York,” said Evgeny Agureev, Director of the United Selling Organisation (USO), ALROSA’s sales arm. The current auction is the second this year. During the first auction held this spring,...
18 Sep
The SYNTHdetect synthetic diamond screening device, made by the International Institute of Diamond Grading & Research (IIDGR), a member of the De Beers Group, won the Industry Innovation of the Year awards at the JNA Awards in Hong Kong. The machine, which was launched last year, is capable  of simultaneously testing multiple stones in set jewellery and IIDGR says it has the industry’s lowest referral rate at around 0.05 per cent. IIDGR President Jonathan Kendall said, “It’s a real honour to be recognised among our industry peers with this award, which is testament to IIDGR’s mission to continually pioneer new innovations to support the diamond trade.” He added, “SYNTHdetect has revolutionised synthetic diamond detection for our customers through our proprietary technology that makes...

Pages