You are cordially invited to join us at Gemgenevé Show 2024: Boot: D-30.
M.I.D. Specializes in: All shapes and sizes from 0.30ct to extreme sized diamonds of 10.00+ct; Parcels, single stones, matched pairs, and layouts Certified stock from GIA, EGL, AGS, HRD, and IGI Extremely Rare Fancy Colored Specialty Stones Premium cuts to value cuts in all shapes Fancy colored diamonds available in one-of-a-kind jewelry.
The Hong Kong Jewellery & Gem Fair is considered is amongst Asia’s top 3 fine jewellery events and is a must attend trading event. In June 2019 31st Hong Kong Jewellery & Gem Fair will take place at the Hong Kong convention and exhibition center and host 2,300 exhibitors from over 40 countries around the world.
MID House of Diamonds will be present and exhibiting at the September 2023 Hong Kong Jewellery & Gem Fair. Join Us! Booth: D 30
MID House of Diamonds will be among the exhibitors at the June 2020 JCK Vegas Show. Come say Hi!
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De Beers has revised its production forecast for 2021 to 32 million carats to 34 million carats, down from 33 million carats to 35 million carats. In a statement released to the media, the company said that this is subject to trading conditions, and is due to ongoing operational challenges and lower expected production from the final cut at its Venetia mine, in the northeast of South Africa.
After months on a slow burner, the rough diamond market appears to be roaring back. Reporting its results for the final three months of 2020, Alrosa, Russia’s state-controlled rough diamond mining company, has announced a 240 percent quarter-on-quarter increase in sales to 17 million carats, which also was 110 percent more than the figure reported for the same quarter in 2019, before the start of the global pandemic.
Despite the economic challenges of the coronavirus pandemic, retail sales during 2020’s November-December holiday season in the United States grew an unexpectedly high 8.3 percent over the same period in 2019 to $789.4 billion, exceeding the National Retail Federation’s holiday forecast, the organization has reported.
A broad diamond desirability survey conducted by the Natural Diamond Council (NDC) through 360 Market Reach in the final quarter of 2020 showed that diamond jewelry is the most highly desired “tangible” luxury product overall for Millennial and Generation Z consumers, among nine luxury items to choose from, if money were not a concern.
With the start of the new year, De Beers has reportedly begun implementing a long-expected shakeup of its sightholder system, with media reports suggesting that there will be a more than 10 percent reduction in the number of companies receiving a direct supply of rough goods from the diamond mining company.
America’s most storied jewelry brand is now…well…French. After a more than a year of twists and turns, Tiffany & Co has become another puzzle piece in the portfolio of the world’s largest luxury monolith, the Paris-based LVMH conglomerate.
Although the COVID pandemic is still raging in the United States, the country’s leading matrimonial publication expects the number of wedding that actually take place in 2021 to tick up. According to the The Knot’s 2020 Jewelry & Engagement Study, the November through February proposal season, which evidently is the most popular time of the year for couples to get engaged, is off to a strong start.
The news on January 3, 2021, that rebels loyal to the former Central African Republic president, François Bozizé, had captured the southern mining city of Bangassou were greeted with concern in several diamond trading centers. The landlocked country, which has suffered a string of coups and wars since it received independence from France in 1960, is considered by the Kimberley Process to be the only source of conflict diamonds in the world at present.
With Christmas 2020 in the rearview mirror and end-of-the-year sales in full steam, retailers are beginning to tally up the results of what traditionally is the most important shopping period of any calendar year. Final data is not yet available, but a picture is emerging, and that is one in which the still surging COVID pandemic is very much a factor.
It is far to state that, when history is written, 2020 will be remembered mainly for one specific event, and that is the COVID-19 pandemic. First reported on by Chinese health authorities on January 1, it continued to dominate the narrative all the way through to the end of the year. Even the U.S. election, which most would have pegged as the most important news item moving into 2020, took second place to the coronavirus crisis, and indeed was impacted by it, like all other facets of human existence.
On December 30, 2019, only two days before the new year, the Municipal Health Commission in the city of Wuhan, China, issued an urgent notice to city hospitals about a handful of cases of unusual pneumonia that had been linked to the Huanan Seafood Wholesale Market. It was to be the start of a crisis that within months had engulfed the whole world.
With little fanfare, possibly because the COVID epidemic had tended to drown out most other news, 2020 marked the 20th anniversary of a landmark event in the diamond industry – the founding of the Kimberley Process (KP). It was an act that was to change the business, both in terms of its image to the outside world and the way in which its members saw themselves.
With the COVID pandemic causing havoc in the international markets, De Beers has reported its worst year of rough diamond sales in more than decade.
As they have for most of the pandemic-struck year, jewelry auctions continue to pull in impressive results in December. A case in point was Sotheby’s New York Magnificent Jewels sale in New York, which with $46.9 million of goods sold, was the the highest total for a Sotheby’s jewelry auction since 2017.
A floral-shaped ring set with 12,638 diamonds has earned a place in the Guinness World Records for the ring set with the most diamonds, and demonstrated once again the perennial popularity of the jewelry category as the preferred platform for the world’s most popular gemstone.
Sales data from the Thanksgiving weekend in the United States indicates that online sales were big winner. Adobe Analytic, which looked transactions from 80 of the top 100 U.S. online retailers, reported that consumer spending on Thanksgiving itself was up by 21.5 percent year over year, reaching $5.1 billion, a new record. This compared to online sales worth $4.2 billion on Thanksgiving Day in 2019.
The fourth season of the Netflix series The Crown, the television series focusing on the lives and loves of the British royal family, has finally come around to introducing character of Lady Diana Spencer, thereafter the Princess of Wales, who on screen as she did in reality has grabbed the spotlight from all those around her.
As part of its Building Forever program, De Beers commits to continue enabling access to world-class healthcare for community members through the hospitals around its mining operations in Botswana and Namibia through 2030 and beyond. (Photo courtesy of De Beers)
A set of five rough blue diamonds has provided some welcome relief to the cash-strapped mining company Petra Diamonds, which closed out a competitive tender in which the winning bid of $40.36 million offered a partnership between De Beers and Diacore was accepted.
With the Thanksgiving weekend in the United States set to jumpstart the holiday shopping season, the diamond and jewelry sectors are beginning to consider prospects for 2021, after wrapping up what certainly for most was the most tumultuous and bizarre year in living memory.
While the core personal luxury goods market has contracted in 2020 for the first time since 2009, falling by 23 percent at current exchange rates to about $257 billion, it has been a year of profound global change in the way we live, the way we shop and what we value. These are among the findings from the 19th edition of the Bain & Company Luxury Study, released in collaboration with Fondazione Altagamma, the Italian luxury goods manufacturers’ industry foundation.
Slowly, a sense of normality appears to be returning to the diamond industry. On November 13, Dominion Diamond Mines announced that 60 of its employees would be heading back to the Ekati mine, 300 kilometers northeast of Yellowknife in Canada’s Northwest Territories, after a more than a half-year of activities being suspended at the site.
The term “phygital” has become the buzzword for the year 2020. Essentially referring to a marriage of both online and offline commercial environments, it involves a multichannel approach to creating a more complete and satisfying customer experience, where the consumer moves seamlessly between the digital and brick and mortar worlds.
Whereas 2019 and 2020 have shown themselves to a be a game changer for the entire world, the process may have been even more dramatic for the diamond industry, which after a gradual restructuring process finally saw the development of a real demand-driven business, this new environment, the perennially profit-squeezed midstream is more able to act purely in its own “economic, financial, and commercial self-interest, less burdened by producer pressures to ‘relieve” them of their stocks,” write Pranay Narvekar and Chaim-Even-Zohar in the 2020 edition of their annual diamond pipeline report, published by IDEX.
In January 2019, the emerging laboratory-grown diamond industry scored a public relations coup when the American wife of Britain’s Prince Harry, Meghan Markle, was spotted in London on her way to a meeting. She was dressed as most would expect from a member of the British family, but what caught the public’ attention were the drop earrings she was wearing. As it transpired, they were set with diamonds that were not natural, but rather had been grown in a lab. If a princess could wear lab-grown diamonds, the pundits asked, why not ordinary people?