(IDEX Online) - Jewelers have donated 210 pieces, from elegant vintage diamond rings to striking contemporary necklaces, to be auctioned for charities helping Israeli victims of the war with Hamas.The lots include iconic names such as Tiffany & Co., Bulgari and Cartier, together with David Morris, Rainbow K, David Yurman, Marie Lichtenberg and other contemporary brands.The Precious Israel...Read More
(IDEX Online) - The global market for lab grown diamonds will almost double in the coming decade, according to new research published today (21 November), as they incorporated into a range of products beyond traditional jewelry.Sales of $10.8bn in 2022 will increase to $20.6bn by 2032, driven by increasing disposable income and women's changing lifestyles, says Indian market research company...Read More
(IDEX Online) - Vladimir Putin's press secretary yesterday (20 November) warned that EU sanctions on Russian diamonds would have a "boomerang effect".He insisted countries that boycotted Russian gems would suffer more than Russia itself. Dmitry Peskov (pictured) told reporters: "As a rule, it turns out that a boomerang effect is partially triggered: the interests of the Europeans themsel...Read More
(IDEX Online) - Lightbox, the De Beers lab grown company, has signed exclusive supply deals with two jewelry brands.It is collaborating with US-based Roseate, which specializes in South Seas and Tahitian pearls, and Hong Kong-based The Future Rocks, a "future-forward" brand that explores the use of new materials."Roseate and The Future Rocks are incredible creative and commercial partners who offe...Read More
(IDEX Online) - The pearl necklace worn by Audrey Hepburn in the 1953 movie Roman Holiday has been pulled from auction, without explanation, by Christie's Geneva.It follows another unexplained withdrawal, that of the Blue Lagoon tourmaline (estimate $1.44m to $2.44m) from a Sotheby's Geneva auction earlier this month.The Hepburn choker-style pearl necklace, set with cabochon sapphires, w...Read More
(IDEX Online) - Debswana, the joint venture between De Beers and the Botswana government, has started using solar power at its diamond mines as part of a pledge to achieve carbon neutrality by 2030.President Mokgweetsi Masisi said solar energy and biodiesel were now being used at the Jwaneng, Orapa, Letlhakane and Damtshaa mines.A grid-tied solar photovoltaic (PV) plant has already been providing...Read More
(IDEX Online) - Lucapa today (20 November) said it was pausing plans to revive the Merlin mine in Australia, amid the ongoing decline in diamond prices.The Perth-based miner bought the mothballed deposit (pictured), in a remote part of Northern Territory, Australia, for $6m in December 2021.At the time it estimated annual production at 153,000 carats, generating a total projected revenue of $1.14b...Read More
(IDEX Online) - Sanctions on Russian diamonds will lead to a supply shortage, and a price collapse, according to the country's deputy finance minister Alexei Moiseev.That in turn will accelerate the rise of lab growns, he said.The G7 nations, representing 70 per cent of world diamond sales, are poised to implement a boycott on Russian diamonds, which still account for around $4bn of rough sal...Read More
(IDEX Online) - De Beers and the Botswana government will work together to find more diamond deposits, after both sides agreed a 10-year deal in June."Most of our mines are ageing, and therefore, we need to look beyond Botswana if we want to continue generating wealth for this country," said Lefoko Maxwell Moagi, Botswana's minister of minerals and energy.He was speaking at the annual Natural...Read More
(IDEX Online) - India's voluntary ban on rough imports has yet to have an impact, with month-on-month purchases for October dropping by less than 1.4 per cent.The two-month moratorium, aimed at stabilizing prices, was brought in by the Gems and Jewellery Export Promotion Council (GJEPC) and other industry bodies.Imports for October were $1.019bn, GJEPC said in response to an IDEX Online inqui...Read More
(IDEX Online) - Jewelry salespeople in the US are being warned of a surge in out-of-store attacks, on the road, at gas stations and in parking lots.Four gang members armed with a crowbar and a hammer, deliberately crashed into a car on the I 10 freeway in Los Angeles and stole merchandise while the victim, a dealer from Hong Kong, kneeled with his hands in the air.The Jewelers' Security Allia...Read More
(IDEX Online) - Brilliant Earth, the US-based "ethical jeweler", saw a slight rise in its Q3 sales but a significant drop in net income as is battled ongoing "industry headwinds".Net sales were up 2.5 per cent year on year to $114.2m, but net income was down 65 per cent to $2m, the company said in its Third Quarter 2023 Results. Gross profit increased 9.7 per cent to $66.8m due to a 17 per cent in...Read More
(IDEX Online) - India's polished diamond exports for October were down 25 per cent on September, and down 33 per cent on the same month last year, according to the latest figures from the Gem & Jewellery Export Promotion Council (GJEPC). But there is no monthly breakdown of rough imports to indicate how much manufacturers are abiding by a voluntary two-month ban which started on 15 O...Read More
(IDEX Online) - Residents of a picturesque Spanish town are protesting over Diamond Foundry plans to install 40-metre high towers to power the $850m lab grown factory it is building there.They are largely in support of the factory itself, which will create 300 jobs and ultimately produce 10m carats a year of single-crystal diamond chips, as well as traditional gem quality diamonds.But they oppose...Read More
(IDEX Online) - A diamond merchant reported his own 16-year-old son to police in Surat, India, for allegedly stealing polished gems worth over $62,000. According to a report filed to police, the boy stole six packets of polished diamonds, with a total weight of 269 carats. He then sold them for a tiny fraction of their real value, just $300, so he could buy an iPhone. The father, who runs a diamo...Read More
(IDEX Online) - The UAE has taken over chairmanship of Kimberley Process (KP) for a second time, promising "a year of delivery", despite a chaotic plenary in Zimbabwe that ended last week without the usual end-of-session communique."Our work in the Kimberley Process holds greater significance than ever before," said Ahmed Bin Sulayem, executive chairman and CEO of Dubai Multi Commodities Center (D...Read More
(IDEX Online) - Hammer-wielding thieves threatened security staff during a raid on a diamond store in Canada.Security guards converged on White Carat Co. Diamonds, at the Bramalea City Centre shopping mall, in Brampton, Ontario, after reports of display cases being smashed.One of the three masked raiders climbed onto a counter and appeared ready to swing a hammer at the guards, in surveillance vid...Read More
(IDEX Online) - De Beers rough diamond sales crashed to just $80m during cycle 9 as demand virtually evaporated.That's the lowest figure since it started reporting Sight totals in 2016, down 60 per cent on cycle 8 and down 82 per cent on cycle 9 last year.Al Cook, De Beers CEO, said: "Macro-economic challenges continue to affect the diamond sector. The retail recovery in China remains slow.&n...Read More
(IDEX Online) - Earrings featuring a pair of exceptionally large fancy vivid orange-yellow diamonds, weighing 12.20 carats and 11.96 carats are to be sold at Christie's New York.The California Sunset Diamonds carry an estimate of $7m to $12m. Both stones are oval mixed-cut and natural color. The larger of the two is VVS2 clarity, the smaller is VS1.Each earring has an additional two white dia...Read More
(IDEX Online) - Tiffany is launching a limited-edition collection of diamond-accented silver Pokemon characters, priced from $1,290 to $29,000.It's a collaboration with contemporary artist Daniel Arsham, who reimagines everyday objects as archaeological discoveries from an imagined future.The collection features six characters from the Japanese media franchise of video games, animated series...Read More