On the Rebound

Tuesday,02 June 2020 10:190 Comments

Diamond industry reopening and adjusting to new normal as consumers emerge from lockdown. US retail jewelers resuming operations in most states, with emphasis on in-store hygiene, virtual consultations and curbside service. New York trade remains shut. China strengthens security law in Hong Kong, fueling concern about renewed pro-democracy protests and trade war. Polished and rough […]

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Rare Blue Diamond

Wednesday,13 November 2019 01:410 Comments

A rare fancy-deep-grayish-blue diamond ring with a high estimate of $8 million is set to lead Sotheby’s Magnificent Jewels sale in New York next month.  The cushion-cut, 7.55-carat, type IIb, SI2-clarity stone, called the Indian Blue, is valued at $6 million to $8 million, and displays a red phosphorescence typically found in diamonds from the […]

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Pink Diamonds Show Strongest Price Growth

Wednesday,07 August 2019 12:09One Comment

Prices of pink fancy-color diamonds outperformed other major color categories during the second quarter, the Fancy Color Research Foundation (FCRF) said.  Prices of pinks rose 0.4% quarter on quarter for the three months ending June 30, according to the FCRF, which released its quarterly Fancy Color Diamond Index (FCDI) last week.  By contrast, prices of […]

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Alrosa Offloads $19M of Non-Core Assets

Monday,13 May 2019 08:140 Comments

Alrosa has sold a number of its non-diamond-related businesses in an effort to consolidate operations and focus on its diamond assets, it said Tuesday.  During the first quarter, the Russia-based miner disposed of 21 assets, including subsidiary equity stakes and real estate totaling RUB 1.24 billion ($19 million). The most significant of those was JSC […]

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Rio Tinto’s Diamond Sales Slip in 2018

Thursday,28 February 2019 01:240 Comments

Revenue from Rio Tinto’s diamond division slid 1.6% to $695 million in 2018, the miner reported Wednesday.  The diamond unit’s profit rose 28% to $118 million, while earnings before interest, tax, depreciation and amortization (EBITDA) increased 4.9% to $301 million.  Diamond production fell 15% to 18.4 million carats for the year, with output slipping at […]

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53M Americans to Buy Diamonds This Holiday

Tuesday,04 December 2018 03:32One Comment

More than 53 million US consumers intend to buy a diamond during the extended festive period from Thanksgiving to Valentine’s Day, according to a survey by the Diamond Producers Association (DPA). The November poll, which the DPA conducted together with KRC Research, collated responses from 1,000 men and women in the US aged 18 to […]

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Colored Diamonds Lead $60M Sotheby’s Sale

Monday,19 November 2018 03:560 Comments

Sotheby’s garnered $59.9 million at its Geneva auction last week as a 21.19-carat pink diamond smashed its estimate with a final price of $7.4 million.   The cushion-shaped, fancy-light-pink, VVS2-clarity, type IIa diamond fetched $347,601 per carat, Sotheby’s reported following the Thursday sale. It had a presale valuation of $4.5 million to $6.5 million.   […]

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Market Report

Tuesday,16 October 2018 12:14One Comment

Diamond market quiet over Jewish holidays and Hong Kong Moon festival. Mixed expectations for Oct. 1 Golden Week, as consumer sentiment reflects impact of US-China trade war and yuan currency depreciation (-9.5% since April 1 to $1/CNY 6.88). India remains slow, particularly for low-value, small diamonds. Steady demand for 0.30 to 1 ct., D-J, SI, […]

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Petra Boss Steps Down Amid $203M Loss

Monday,24 September 2018 06:120 Comments

Petra Diamonds CEO Johan Dippenaar will leave the company after it recorded a huge loss during the fiscal year, it said Monday.   The company reported a net loss of $203.1 million for the period ending June 30, as opposed to a profit of $20.7 million the year before. This was due to the combination […]

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GIA promises $2M in Scholarships

Thursday,09 August 2018 09:270 Comments

  The Gemological Institute of America (GIA) is offering $2 million in scholarships for 2019 to established and aspiring professionals.   The grants are available to students interested in registering for the institute’s gemology and jewelry manufacturing-arts programs, distance-education courses and lab classes. Successful applicants will be able to use the scholarships at the GIA’s […]

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