The new year started off at a sluggish pace, at least as far as polished diamond prices were concerned. But prices of fancy color diamonds were more buoyant, at least during the final three months of 2018.
The value of rough diamond sales at the world’s two largest mining companies climbed in 2018 in terms of U.S. dollars, although production in terms of carats dipped.
Consumers will emerge clear winners in the current tussle between producers of natural and synthetic diamonds underway in the diamond sector, according to a just-released report, entitled “Diamond Sector Outlook – Entering a Growth and Disruption Phase,” produced by ABN AMRO.
Things may be looking up for a country that about a decade ago appeared to be set to rewrite the world’s rough diamond map, but then saw its hopes dashed through corruption and bad planning. Alrosa, the world’s leading diamond producer in terms of volume, has said it plans to begin mining operations in Zimbabwe.
Up to two thirds of sales of luxury products to Chinese buyers have been taking place outside of the country, but the difference between luxury spending abroad and at home is shrinking.
The celebrated high-end American jewelry chain dropped a bombshell at the start of the new year, when it announced that it will begin providing accurate information about where diamonds larger than 0.18 carats were mined.
Given the pace of declining production costs and wholesale and retail prices, lab-grown stones are likely to become accessible to a wider consumer audience. This wider availability could well have a positive impact, potentially increasing demand for diamonds in general.
The consultants’ 2018 diamond report edition covers industry developments in 2017 and the first half of 2018, and in particular looks at the fundamental trends that will influence the sector’s development over the coming two decades.
It should come as no surprise that many consumers look for more in purchase of diamond jewelry than simply satisfying their need for prestige and wellbeing, or even their desire to express their affection for a loved one.
More than 53 million Americans, or 21 of the adult population, say they plan to purchase a diamond between Thanksgiving and Valentine’s Day.
The year saw the average price of a 1-carat lab-created stone falling by almost falling to half of that of a comparable natural diamond, with the discount in late-November being 42 percent off the price of the natural product, up from 29 percent in January.
The 2018 fall auction season is shaping up to one of the best ever in recorded history. Eyes now turn to New York, where Sotheby’s Magnificent Jewels sale on December 4 will be led by a 10.62-carat fancy vivid blue diamond with a pre-sale value of between $20 million and $30 million.
The infiltration of Blockchain technology into the diamond business received a major boost at the end of October, with the announcement that Alrosa, the Russian rough diamond producers, was joining De Beers’ end-to-end diamond industry blockchain traceability platform.
The Plenary of the Kimberley Process, which is the coalition of national governments, the diamond industry and civil society organizations working to end the trade in conflict diamonds, has met for the organization’s 2018 annual meeting in Brussels.
Personal luxury goods, including jewelry, will outperform the market, posting 6 percent growth at constant exchange rates in 2018 to approach the $300 million mark.
With the 18.96-carat Pink Legacy achieving its high price estimate, it sold for a staggering $2,637,131 million per carat, an all-time record.
Economically in 2018, things are looking good. According to retail analyst eMarketer, holiday retail sales in the United are expected to climb above the $1 trillion mark for the first time.
A meeting that took place in Philadelphia in September 1938 would in retrospect change the diamond business for eternity, and at the same time leave an indelible mark on the marriage ceremony.
The classic image of the sophisticated Westerner, enjoying the best that life has to offer on the Côte d’Azur, New York’s Fifth Avenue and Rodeo Drive in Beverley Hills has expanded to include newly affluent consumers across Asia and the Middle East, and increasingly in South America and Africa.
The Diamond Producers Association, the trade organization established in May 2015 by seven of the world’s leading rough diamond producers, has revealed the latest strategy in its campaign against synthetic diamonds.
Not all Millennials are equal. A major driving force behind the growth in sales are the Chinese Millennials, who allocate about 20 percent of discretionary income to purchasing luxury goods.
For the 34th time, a collection of fancy colored stones that together comprise one of the world’s most widely covered diamond tenders in any given year has been plying its way around the world.
Import duties on polished diamonds, semi-processed diamonds, polished colored gemstones and laboratory-grown stones are rising from 5 percent to 7 percent.
The eyes of the diamond world will shift to the Four Seasons Hotel des Bergues in Geneva on November 13, where the top lot will be a 18.96-carat fancy vivid pink stone.
The growth data was skewed by strong sales in the United States and China, while for much of the reminder of the world it was a relatively lackluster year.
Both Millennials and Generation Z hold strong aspirations to be in committed relationships, and, while their attitudes towards how they express and symbolize their love are evolving, they generally still want to follow tradition.
Representatives of De Beers and Botswana have begun the process of negotiating a new sales agreement, to replace the 10-deal that will expire toward the end of 2020.
The Hong Kong Jewellery & Gem Fair will kick off on September 12 at the AsiaWorld-Expo (AWE), adjacent to the city’s international airport, and run all the way through to September 18, when it closes at the Hong Kong Convention & Exhibition Centre (HKCEC).
International Jewellery London (IJL) will open at the Olympia exhibition center in the British capital for its 63rd edition, and will run through September 4.
For time immemorial the U.S. dollar has reigned supreme in the diamond industry, making the relative strength or weakness of the American currency a factor that every non-American company needs to take into consideration.
The luxury goods market is looking like it will have a banner year in 2018, reported Bain & Company, basing its findings on data collected during the first half of the year.
The Dynasty collection was made up of five diamonds, all of which had been cut and polished from a 179-carat rough stone that had been recovered in 2015.
It now appears that not only are diamonds the result of a tectonic action, but so is the color of fancy-color diamonds, or at the very least blue fancy-color diamonds, according to an article just published.
More than 1,200 IIJS exhibitors will greet tens of thousands of visitors, coming from 800 cities and towns across India, and from more than 80 countries.
Instead of clarifying all issues, the FTC confused one rule that appeared to have already been settled internationally, and that relates directly to what legitimately can be referred to as “a diamond.”
The association of the diamond with love and marriage was a master-stroke on a number of levels. Bridal jewelry and other gifts of love rarely enter the resale market, meaning that most diamonds are sold only once.
With the finals of the FIFA World Cup, Russian mining company Alrosa has announced the results of a competition to choose the best “football-related” names for two large rough diamonds.
With millennials becoming dominant, the women who were mainly viewed as primary recipients of gifted diamond jewelry are today being recognized as possibly the industry most promising target market.
A series of large diamond discoveries and sales reflect what has been a steep increase in demand for rough diamonds, accompanied by increases in rough diamond prices.
According to a report by the Russian diamond mining company Alrosa, the positive market dynamics were mostly driven by consumer demand, but also were influenced by positive currency exchange rates.
It’s a technology that many believe will change the world as we know it, although few properly understand what it is exactly. It almost certainly will impact the diamond business, but in ways that are not fully realized at present.
Almost 20 years to the day that the UN Security Council adopted its first resolution concerning what would become known as conflict diamonds, the members of the system that was created in the wake of this decision, the Kimberley Process, are gathering in Antwerp.
No important event, sporting or otherwise, can be completely diamond-free, and certainly not the FIFA World Cup. The following are just some examples that indicate that when it comes to points in football, not all are on the pitch.
With the lights of Las Vegas fading gently into the background, the world’s jewelry industry sets its sights on Asia, and more specifically to the June Hong Kong Jewellery & Gem Fair, which will take place June 21 to 24, 2018.
JCK Las Vegas, the premier trade show in the world’s largest diamond jewelry market, wrapped its 2018 edition at the Mandalay Bay convention center on June 4 on a generally optimistic note.
Not only does the company aim to protect the position of the natural diamond, but the way it is positioning its new jewelry products is likely to cut deeply into the profits of the other synthetic diamond producers.
The 6.16-carat pear-shaped fancy colored diamond called the Farnese Blue Diamond was the most celebrated item at the auction in Geneva, but it was not the most valuable jewel on offer.
The General Data Protection Regulation (GDPR) requires collecting personal data lawfully, and processing it only in the way that the individual to which it refers understood you would. It also requires taking appropriate measures to ensure that the data does not fall into the hands of others.
The world’s diamond and jewelry trade heads back one more time to Las Vegas’ golden Mandalay Bay resort, as next year the United States’ premier jewelry trade show, JCK Las Vegas, will be relocating back to the Sands Expo and Convention Center.
The renewed fascination with diamond jewelry inspired by the royal romance was good news for the British gem and jewelry trade, which had experienced a tough year in 2016, although also stabilization toward the end of 2017.
While most of Canada’s known diamond deposits are located in the vast Northwest Territories, the Renard mine is the only functioning facility in the mainly French-speaking province of Québec, in the northeast of the country.
It began at Christie’s in New York on April 17, when a ring with a 3.09-carat fancy intense blue diamond as its center stone sold for $5.4 million. At Sotheby’s the next day a step-cut 3.47-carat fancy intense blue diamond in a ring sold for $6.7 million.
The Israeli government’s chief regulatory officer for the diamond industry has extended from three days to 30 days the tax-free inspection period allowed for imported diamonds.
Botswana’s most abundant producer of spectacularly large diamonds, Karowe, has done it again, yielding a 327-carat white, gem-quality diamond, the ninth-largest piece of rough ever discovered by the mine’s owner.
Buoyed by the enthusiastic response to its first edition in 2017, the CARAT+ show returns to Antwerp from May 6 to through May 8. MID House of Diamonds, which exhibited at the trade fair’s premiere showing, will be present once again.
CARAT+ will take place in Antwerp from May 6 through May 8. The International Jewellery Kobe (IJK) show will take place from May 16 through May 18.
The Diamond Controller at Israel’s Ministry of Economy has named MID House of Diamonds the country’s leading listed polished diamond exporter in 2017, making it the third consecutive year that the company has headed the table.
Together the shows will draw in thousands of exhibitors and well over 150,000 visitors. MID House of Diamonds will have a prominent presence, continuing its well-proven strategy of maintaining a physical presence in the world’s key markets.
MID House of Diamonds’ new app for mobile devices effectively transforms a smart cellular device into a loose polished diamond ordering office.
Change is the one constant that can be expected moving forward, noted Claudia D’Arpizio, a luxury industry expert at Bain & Company, speaking at the VISIO.NEXT summit at the VICENZAORO January jewelry show, focusing on the future of the jewelry trade during a transformational time for business in general.
Long and slender, the modest Baguette Cut diamond generally is overlooked, because of its frequent role as the supporting act. Often used as side stones to the centerpiece diamond in an item of jewelry, they are the most widely available step-cut diamonds.
A step-cut diamond, the Radiant is squarish or rectangular, and features straight sides and cut-off corners. Its brilliance can be compared with that of a Round Brilliant, which is unsurprising in that it employs a similar facet pattern on both its crown and pavilion.
Essentially an elongated variation of the Round Brilliant, an Oval Cut diamond likewise features 57 or 58 facets, and similar visual qualities. But, because it has a larger surface area, it seems bigger to the human eye than the round stone of the same weight.
Japan will become the focus for the much of the world diamond industry from January 24 through 27, 2018, as thousands of exhibitors and buyers gather at the Tokyo Big Sight exhibition ground .
Blue was most definitely a dominant theme, as New York’s two leading auction houses closed out the 2017 season with magnificent jewelry sales.
The award will be officially made at a special gala event in Tel Aviv on December 12, in the presence of the Japanese Ambassador to Israel.
JMA Hong Kong is a show with twist. It is a cash and carry event, welcoming both trade professionals and members of the general public.
The company will begin accepting bitcoin as payment from clients, making it one of the world’s first gem dealers to recognize the crypto-currency as legal tender
Called the “Raj Pink,” it is estimated that the diamond will obtain a price of between $20 million and $30 million.
The wholesale trade plays a critically important role the geographically diverse jewelry market. It is extremely efficient in matching suppliers to buyers.
Just 100 years earlier, what is today the densely-packed diamond business district of metal and glass skyscrapers was largely open fields.
The Code of Practices defines responsible ethical, human rights, social and environmental standards for the gemstone and jewelry business.
As the 2017 edition of United Kingdom’s premier jewelry show winds down, the market is provided insights as to what will happen to the diamond market when the country exits the European Union.
Following a journey that began deep below the earth’s surface, the stone travels across the counter in a jeweler’s store, and instantly adds more than 50 percent to its value. Part 4 of a 4-part series.
Each September, jewelers from around the world gather at International Jewellery London (IJL), the United Kingdom’s’ leading trade event for the international jewelry industry.
The anchor of the diamond trade is its rough diamond sector, which on an ongoing basis generates a steady flow of merchandise from mine to market. Part 2 of a 4-part series.
The 2.11-carat gem called the Argyle Everglow is said by Argyle to be the largest fancy red diamond ever to feature in the 33-year history of the pink tender.
While registering a moderate 0.8 percent rise between the first and second quarter of this year, fancy blue colored diamond prices were on average 5.5 percent higher than where they stood during the second quarter of 2016.
Reputation is a critical factor in maintaining consumer confidence, especially for a non-essential luxury product. If that reputation is damaged, consumers may simply choose to spend their discretionary income in other ways.
The online market phenomenon is not killing the traditional brick and mortar store, but it is forcing it to rethink the way it does business. Part 1 of a 3-part series.
A diamond’s cut not only refers to its shape, but also how effectively the stone can return light back to the viewer’s eye. A well-cut diamond will appear very brilliant and fiery, while a poorly cut stone can appear dark and lifeless.
To popularize fancy brown diamonds, Rio Tinto began a massive marketing campaign that referred to them by a variety of more attractive and frequently appetizing names.
Better results by Asia’s largest jewelry retailer was indicative of a general improvement in the region’s luxury markets, which had been in slowdown since the second half of 2015.
This year the show will celebrate its 30th anniversary, with about 2,200 exhibitors from 41 countries and regions, serving 25,000 professional buyers.
MID’s exhibition booth, which is greeting buyers from all over the world, is located in the Diamond Plaza, at Bayside, Level 1, stand B52017.
For registered users, the MID Online service is not simply a search tool, but a comprehensive business application, which even enables clients to customize and embed the application on their own websites, allowing their customers to search the MID database, as if it were their own.
For four days, through June 9, the 2017 JCK Show in Las Vegas will grab the attention and the imagination of the American and international trades, and for the 20th year running MID House of Diamonds will be there in full force
In developing its online sales platform MID sought to accomplish two goals: offering the access, choice and immediate response provided by e-commerce, while maintaining the confidence of clients who were used to physically examining the diamond.
For 43 days over the coming 12 months, teams of MID sales executives will staff company booths at a variety of diamond and jewelry trade fairs in eight different countries, essentially bringing the company, its people and its merchandise directly to its market.
Sotheby’s magnificent jewelry sale on May 16 features pink and blue diamond earrings that together could bring in more than $68 million. In April a pink diamond broke records when it sold for $71.2 million in Hong Kong.
MID’s Belgian team has employed a various of means, both classic and cutting edge, to draw in buyers traversing the exhibition area at the CARAT+ show.
There literally are thousands of reasons to visit MID’s booth at CARAT+, most of them round, brilliant or fancy shaped. But here are another five.
The new trade show is being billed as the only international fair today catering exclusively to buyers of loose diamonds, diamond jewelry and diamond-related services.
Kim Kardashian is expecting a new baby any day now, but she’s also expecting something else entirely: a push present worth about $1 million.
Every year around Christmas, The Knot – a huge wedding online resource in the US – publishes results of The Knot 2015 Jewelry & Engagement Study.
2016 has begun, and like every new year, it too will try to bring fresh, exciting trends in fashion and accessories. Since not every year can witness the re-invention of the wheel…
Last week, a Belgian publication called Flair Magazine made some international buzz with an original campaign: under the motto “If you want it done right, do it yourself”, the magazine launched an “Ask him to marry you” campaign, encouraging women to propose their partners.
Having a hard time finding a gift for your loved one on Valentine’s? According to a recent survey by the National Retail Federation on Valentine’s Day spending trends, you can’t go wrong by sticking to one of these three classics – candy, a night on the town and of course – a piece of jewelry.
JCK Las Vegas is one of the premier jewelry events on the calendar with over 23,000 retailers and over 2,300 exhibitors from around the world showcasing new products, designs and trends from around the world.