Diamond stocks Articles

Jewelry Strong for Kering in First Half

Jul 28, 2021 / Rapaport News

RAPAPORT... Kering reported solid jewelry sales during the first half of 2021, led by a recovery in Asia and strong demand for its Qeelin brand.The group's jewelry houses, which also include Boucheron and Pomellato, delivered an "outstanding performance" in all regions and across all channels, Kering reported Tuesday. "Our jewelry houses all posted sharp rebounds, with significant triple-digit inc...Read More

Cullinan Yields 343ct. Rough for Petra

Jul 28, 2021 / Rapaport News

RAPAPORT... Petra Diamonds has recovered a 342.92-carat rough diamond from its Cullinan mine in South Africa, it said Wednesday.The white, type IIa stone, which is of "exceptional quality" in terms of both its color and clarity, will likely be offered at the company's upcoming September tender, Petra noted.Petra's revenue jumped 38% to $406.9 million last year, growth the company attributed to its...Read More

De Beers Sells $510m Rough as Demand Remains High

July 28, 21 / John Jeffay

(IDEX Online) - De Beers today said it sold $510m (provisional) of rough at Sight 6, as demand remained high, especially from the US and China.The figure is more than four times the $116m total for last July, in the depths of the pandemic, but more significantly it is more than double the $250m figure for pre-Covid July 2019.De Beers said it was still offering extra flexibility to sight holders, a...Read More

World's Largest Sapphire Cluster - 2.5m carats - Found in Gem Trader's Back Yard

July 28, 21 / John Jeffay

(IDEX Online) - The world's largest sapphire cluster - weighing 2.5 million carats, or more than half a ton - has been found by workers digging a well at the home of a gem trader in Sri Lanka.The pale blue stone (pictured) has been provisionally valued at $100m, although the quality of the stones inside the cluster is not yet known."The person who was digging the well alerted us about some ra...Read More

De Beers Sales Rise Following Price Increase

Jul 28, 2021 / Rapaport News

RAPAPORT... De Beers' sales momentum continued in July as demand strengthened and rough prices grew.Proceeds came to $510 million for the month, compared with $116 million a year earlier, the company reported Wednesday. The total was 7% more than in June and the highest since February."Our sixth sales cycle of the year has seen the continuation of good demand for rough diamonds, driven by str...Read More

"Bogus Gemologist" tells Court: It wasn't me, it was my Dead Sister

July 28, 21 / John Jeffay

(IDEX Online) - The woman accused of swapping $7.8m of diamonds for worthless pebbles told a court it wasn't her.  It was her dead sister.Lulu Lakatos, 60, is accused of posing as a gemologist called Anna in a sophisticated heist at the jeweler Boodles (pictured) in Mayfair, London.But she told a court it was her younger sister Liliana who had been involved in the crime in March 2016.&nb...Read More

US Jewelry-Store Closures Accelerate

Jul 27, 2021 / Rapaport News

RAPAPORT... Some 143 US jewelry businesses shut their doors in the second quarter of 2021, 53 more than the same period last year, according to data from the Jewelers Board of Trade (JBT).In total, the sector downsized 1.8% year on year to 24,021 companies active during the three months, the JBT said Monday.Of the businesses that discontinued operations in the second quarter, two firms went bankru...Read More

LVMH Buoyed by Resurgent Jewelry Sales

Jul 27, 2021 / Rapaport News

RAPAPORT... LVMH saw sales of watches and jewelry triple in the first half of 2021, boosted by its Bulgari brand, the acquisition of Tiffany & Co., and a strong rebound in demand.Revenues in the category jumped to EUR 4.02 billion ($4.74 billion) in the six months ending June 30, compared to EUR 1.32 billion ($1.55 billion) a year ago. LVMH reported Monday. Sales for the segment also beat pre-...Read More

A Blessing in Disguise? Full Analysis of the Pandemic in IDEX's Pipeline 2020

July 27, 21 / IDEX Online

(IDEX Online) - Coronavirus has caused global devastation, but for a diamond industry that was in turmoil, it may prove to have been a blessing in disguise.It has emerged from the depths of pandemic lockdowns and is now in position that was "unimaginable 12 months ago," say experts Pranay Narvekar and Chaim Even Zohar in IDEX's new state of the industry analysis - Pipeline 2020 - which is ava...Read More

Sammy Davis Jr's Jewels Fetch way above Estimates

July 27, 21 / John Jeffay

(IDEX Online) - A diamond ring owned by the legendary Sammy Davis Jr sold for $69,000, way above its high estimate of $40,000 at Bonhams' California.The octagonal-shaped modified brilliant-cut diamond (pictured) was GIA-certified as 6.28-carats, K-color and VS1-clarity.Another piece that belonged to the flamboyant performer, an 18-karat gold, 10.75-carat fancy brown diamond and diamond ring,...Read More

Tiffany Targets the Young . . . and Angers the Old

July 27, 21 / John Jeffay

(IDEX) -  Tiffany & Co is suffering a backlash over its new ad campaign - condemned on social media as disgusting, disrespectful and ageist.Posters of grungy young women with attitude (pictured), headlined Not your mother's Tiffany, have appeared by roadsides in Los Angeles, USA.It follows the on-off-on-again $16.2bn buyout by luxury conglomerate LVMH and the appointment of 29-year-o...Read More

Alrosa Buys from Gokhran to Fill Inventory Gap

Jul 26, 2021 / Rapaport News

RAPAPORT... Alrosa has purchased rough diamonds from Russia's national stockpiles to help manage inventory shortages ahead of this week's monthly contract sale.The miner bought "some 70%" of goods that Gokhran - the state gem and precious-metal depository - offered at a special auction last Friday, Alrosa said Monday. The company did not disclose the purchase's value or volume.According to a...Read More

Colored Gems Marketing Council to Debut in Vegas

Jul 26, 2021 / Rapaport News

RAPAPORT... Mining company Fura Gems is set to launch a trade organization aimed at unifying the colored-gemstone industry, debuting the group at the upcoming Las Vegas jewelry shows.The Fura Marketing Council (FMC) will have booths at both JCK Las Vegas and the American Gem Trade Association (AGTA) fairs, the miner said Sunday. It will support the sector by coordinating marketing, training a...Read More

Jewelry Group Awards $35K in Scholarships

Jul 26, 2021 / Rapaport News

RAPAPORT... The Women's Jewelry Association Foundation (WJAF) has revealed the winners of its 2021 Excellence Awards.The group will award a total of $35,000 to 12 women, using funds that it raises at its annual Awards for Excellence Gala, it said last week.The prizes range from $1,000 to $5,000 each and are offered in five categories: The Cindy Edelstein Jewelry Design Scholarship, the Gabriel Lov...Read More

TAGS Sells a Record $62m of Rough in Dubai

July 26, 21 / John Jeffay

(IDEX Online) - Trans Atlantic Gem Sales (TAGS) last week sold a record $62m at a rough tender in Dubai.It more than doubled its June sales of $30m, though the overall price per carat was lower.There were many single stones +10-ct among the goods offered, from southern Africa and Angola, and several exceptional special stones, between 30-cts and 100-cts.Over 100 companies were represented at the t...Read More

US Stores Expecting Recovery by Fall

Jul 26, 2021 / Lara Ewen

RAPAPORT... In June, Covid-19 cases were shrinking in many US states, and restrictions were relaxed in a lot of major US cities, including New York and Chicago, Illinois. Retailers, too, felt a weight had been lifted from them, with some even talking about attending the rescheduled JCK Las Vegas and Couture shows in August. But even with the country reopening, store owners believed a true recovery...Read More

New Ellendale Owners Raise $37m

July 26, 21 / John Jeffay

(IDEX Online) - Burgundy, the new owners of the Ellendale Diamond Project, in Western Australia, today said it had raised $37m and aimed to bring the mine back into production next year.The investment will fund the re-opening of the deposit, which is a leading source of rare fancy yellow diamonds. It ceased production in 2015 when previous owner Kimberley Diamond Company went into liquidation...Read More

World's Third Largest Diamond Arrives in Antwerp

July 26, 21 / John Jeffay

(IDEX Online) - The world's third-largest diamond - a 1,174.76- carat clivage stone recovered last month at Karowe, Botswana - has arrived in Antwerp.It will be scanned and analyzed for composition, quality, thickness and clarity by HB Anwerp, the diamond tech newcomer that cut and polished the 1,758-ct Sew lo, recovered from the same mine in April 2019.Plans for the newly-recovered diamond w...Read More

Colored-Gem Marketing Council to Debut in Vegas

Jul 26, 2021 / Rapaport News

RAPAPORT... Mining company Fura Gems is set to launch a trade organization aimed at unifying the colored-gemstone industry, debuting the group at the upcoming Las Vegas jewelry shows.The Fura Marketing Council (FMC) will have booths at both JCK Las Vegas and the American Gem Trade Association (AGTA) fairs, the miner said Sunday. It will support the sector by coordinating marketing, training a...Read More

Trans Atlantic Garners $62M at Record Rough Tender

Jul 25, 2021 / Rapaport News

RAPAPORT... Trans Atlantic Gem Sales (TAGS) brought in $62 million at its latest rough-diamond tender in Dubai, its highest proceeds to date, as the market continued to strengthen.The tender house offered 43,300 carats of goods from southern Africa and Angola from July 14 to 21, it said Thursday. The diamonds covered a range of sizes and were mostly in higher qualities, with many single stone...Read More