Diamond stocks Articles

Sotheby's to Accept Cryptocurrency at HK Sale

Sep 12, 2021 / Rapaport News

RAPAPORT... Sotheby's will allow buyers to pay in Bitcoin or Ether for all items at its upcoming Hong Kong auction, following a successful experiment with cryptocurrency earlier this summer.A Harry Winston diamond necklace will lead the September 24 auction, which Sotheby's has called "Diamonds: The Dazzling ," using the mathematical symbol for infinity. The piece is the auction house's first sign...Read More

Gangster Auction: Your Chance to Buy Al Capone's (Broken) Patek Philippe

September 12, 21 / John Jeffay

(IDEX Online) - Al Capone's diamond-encrusted platinum Patek Philippe pocket watch is to be auctioned - even though it doesn't work. It's among 174 items - including two guns - being sold by California-based auctioneers Witherell's in a sale entitled A Century of Notoriety: The Estate of Al Capone (Live). The watch owned by the infamous Prohibition-era crime boss is s...Read More

Raiders Flee with $12m Gems from Bulgari Store in Paris

September 12, 21 / John Jeffay

(IDEX Online) - Two suspects have been arrested and five remain at large after a $12m armed heist at Bulgari's flagship store in Paris.One was shot in the leg by police as he fled the store, in the capital's prestigious Place Vendome (pictured) last Tuesday. Other raiders escaped in a grey BMW and on scooters.Officers fired shots at the car, forcing three occupants to try to flee on foot...Read More

Empty Shelves: Alrosa Sales Slip to 2021 Low as it Battles Rough Shortage

September 12, 21 / John Jeffay

(IDEX Online) - Alrosa's rough and polished sales slipped again in August to a 2021 low of $306m (provisional).The Russian miner has resorted to topping up its inventory with rough from the state-run Gokhran as it struggles with record low stockpiles."Our total sales in carats were lower due to a lack of rough inventories available for sale," the company said in a statement.Total sales were $...Read More

New Ana de Armas Diamond Ad Drops

Sep 12, 2021 / Rapaport News

RAPAPORT... The Natural Diamond Council (NDC) has released a new campaign featuring Ana de Armas, its second starring the James Bond actress.The ad, the latest installment in the "For Moments Like No Other" campaign, showcases the role natural diamonds play in celebrating a variety of life events, the NDC said last week. In the video, de Armas wears an 11-piece diamond-jewelry collection custom ma...Read More

Rapaport Weekly Market Comment

Sep 09, 2021 / Rapaport News

Market sentiment positive. Dealers looking for goods after Las Vegas shows raise expectations for holiday season. Some uncertainty over US labor shortage and inflation that may disrupt upbeat consumer confidence. Manufacturers concerned about supply scarcities ahead of peak trading period. De Beers sees robust demand at $515M Aug. sight. Christie's to auction pair of Marie Antoinette diamond brace...Read More

Christie's to Sell Marie Antoinette's Diamonds

Sep 09, 2021 / Rapaport News

RAPAPORT... Christie's expects to garner up to $4 million for a pair of diamond bracelets belonging to Marie Antoinette, former queen of France, at its Geneva sale in November.The set, which contains 112 diamonds, will lead the Magnificent Jewels sale, Christie's said Wednesday. The queen originally purchased the bracelets in 1776 for 250,000 livres, a huge sum at that time, the auction house note...Read More

De Beers Sales Jump Amid Strong Retail Demand

Sep 09, 2021 / Rapaport News

RAPAPORT... De Beers' revenues continued to rise at its August rough sale as diamond demand persisted in the most important retail centers, the miner reported this week.Proceeds from the seventh sales cycle of the year came to $515 million, the most since February, the company said Wednesday. That figure was 54% higher than the equivalent period of 2020, when the Covid-19 crisis was still sap...Read More

My New Jewelry Agenda

Sep 09, 2021 / Avi Krawitz

RAPAPORT... During the recent Las Vegas jewelry shows, I had the opportunity to do something that has been surprisingly inaccessible to me in the more than 14 years I've been covering the industry - I got to try on some jewelry. I attend the shows primarily to assess the economics of the diamond market and to get a sense of sentiment among designers and jewelers. I tend to discuss design on a...Read More

Alrosa Buys More Gokhran Rough to Replenish Stocks

September 09, 21 / John Jeffay

(IDEX Online) - Alrosa bought more diamonds this week from Gokhran, the Russian state repository of precious gems and metals, as it sought to replenish its dwindling inventory.It said it purchased 80 per cent of the rough stones offered at auction on Tuesday but did not disclose the price it paid. It was previously reported that Gokhran would be offering 768,600 carats, worth about $19m, at its Se...Read More

Queen Marie-Antoinette's Diamond Bracelets could Fetch $4m

September 09, 21 / John Jeffay

(IDEX Online) - An historic pair of diamond bracelets that originally belonged to Queen Marie-Antoinette of France could fetch up to $4m at auction.The bracelets (pictured), comprising 112 diamonds will headline Christie Geneva's Magnificent Jewels Auction on 9 November.The Queen, famous for her love of jewelry bought the bracelets in 1776 for for 250,000 livres, a huge sum at the time. ...Read More

De Beers Reports $515m Sales, amid "Robust" Demand

September 09, 21 / John Jeffay

(IDEX Online) - De Beers reported provisional rough sales of $515m at its seventh sight of 2021, virtually unchanged from $514m at sixth sight. It said demand in the US and China remained "robust".Sales for Sight 7 last year, in the midst of Covid lockdowns, were $334m. In 2019 the figure was $287m.De Beers said it was still offering extra flexibility to sight holders, and extended the sale in Gab...Read More

BIG DATA LAUNCH: IDEX Online's Diamond Price Database is Now Available, in Partnership with One Creation

September 09, 21 / IDEX Online

International Diamond Exchange Online (IDEX) and One Creation Corporation are announcing a strategic partnership jointly developing the online market data portal directly to the participants in the diamond industry.  The diamond trading platform IDEX Online is making its unique database of diamond prices available for the first time. It will be made accessible via a portal to banks, financia...Read More

Zimbabwe Mine Aims to Double Diamond Production

September 06, 21 / John Jeffay

(IDEX Online) - Zimbabwe's Murowa mine aims to more than double production as it migrates from open pit to underground operations. Owners RioZim plan to invest $400m in the switch, and say the deposit, 450km from the country's capital Harare, should increase ore processing from 190,000 tonnes per month to 500,000. "It's a massive investment that bodes well with the government's...Read More

Tender Prices Exceed Expectations, says Diamcor

September 06, 21 / John Jeffay

(IDEX Online) - Diamcor Mining says prices exceeded expectations as it sold just over $1m of rough at three tenders in July and August.The Canadian junior miner acquired Krone-Endor, at the Venetia deposit in South Africa, from De Beers in February 2011, and has a long-term strategic alliance and first right of refusal with Tiffany & Co's Canadian subsidiary.In the three months to Septemb...Read More

Le Vian Donates World's "Newest" Gemstone to Museum

September 06, 21 / John Jeffay

(IDEX Online) - Unique specimens of Aquaprase, the world's "newest" gemstone, are being donated to the American Museum of Natural History.The bluish-green chalcedony was discovered in 2013 by veteran gem explorer Yianni Melas at an undisclosed location in Africa, as the first "new" gemstone of the century.New York-based jewelers Le Vian is gifting examples of its own trademarked classificatio...Read More

Average Prices Strong at Diamcor Summer Tenders

Sep 05, 2021 / Rapaport News

RAPAPORT... Diamcor Mining garnered $1 million from three rough tenders held during July and August, as overall demand and pricing exceeded expectations.The company sold 4,330 carats of rough from its Krone-Endora at Venetia deposit in South Africa at an average price of $236 per carat, it said last week. That included several special-size diamonds - weighing over 10.8 carats - Diamcor noted.The m...Read More

Diamonds de Canada Ships its First Polished Gems

September 05, 21 / John Jeffay

(IDEX Online) - The newly-founded Diamonds de Canada will this week ship its first consignment of polished stones for grading in Las Vegas, before being sold.The venture, launched in Yellowknife, on the edge of the Arctic Circle, by Michael Indelicato, of US wholesaler RDI, and industry consultant Benjamin King, accesses rough directly from the three major diamond mines in Canada's Northwest...Read More

Global Diamond Production will rise to 113m carats in 2021

September 05, 21 / John Jeffay

(IDEX Online) - Global production of rough diamonds will increase by 1.4 per cent to almost 113m carats this year, according to data and analytics company GlobalData.It follows an estimated 19.4 per cent decline to 111.4m carats in 2020, as the industry was hit by the COVID pandemic.Russia is likely to show only moderate growth but output elsewhere is forecast to rise in Botswana (+37 per cent), C...Read More

CIBJO to Hold Annual Congress in Virtual Form

Sep 05, 2021 / Rapaport News

RAPAPORT... The World Jewellery Confederation (CIBJO) will hold its 2021 congress virtually, after canceling last year's session due to Covid-19.The event will take place from November 1 to 4 and from November 15 to 18, CIBJO said last week. The new platform will allow delegates to mingle and interact in a common area, between and during formal meetings, the organization noted.The annual congress...Read More