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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Discover
2020 will be a year that the luxury markets would prefer to forget, write Jean-Noël Kapferer and Jean Revis in a recent edition of the respected Business of Fashion journal. However, it is not a question of if the luxury markets will recover from the COVID-19 crisis, but rather of when. But when they do, they will be greatly changed.
The giant Indian cutting industry will play a key role in the recovery of the diamond sector from the extended global lockdown that had been instituted as a result of the COVID-19 coronavirus. But with the pipeline already clogged with excess rough supply before the start of the crisis, calls are growing for a temporary moratorium on rough diamond purchases, even after cutting plants resume activities, so as restore a sense of balance in the market.
On December 31, the municipal health commission in Wuhan, China, reported a cluster of unusual pneumonia cases in the city, and six days later the World Health Organization issued a disease outbreak report. This was soon identified by genetic sequencing as a novel coronavirus and evidence indicated it was highly transmissible.
With many of the world’s major diamond markets in lockdown as a result of the COVID-19 coronavirus pandemic, mining companies are feeling the heat. Among the latest to reveal this predicament is the De Beers Group, whose parent company, Anglo America, revealed that it has cut its production forecast sharply for 2020, from what it previous had been planned.
History was made on April 20 – quietly in the turmoil of the ongoing CIVID-19 pandemic – when the presidency of the diamond trade’s premier representative organization, the World Federation of Diamond Bourses (WFDB), returned into Israeli hands.
At the end of March, the consulting firm Boston Consulting Group is revised down its earlier negative forecast on the impact of the COVID-19 pandemic on luxury sales. Brands, it stated, should prepare for a decline in sales of between $85 and $120 billion in 2020, equal to about 29.2 percent of the $350 billion luxury market.
As governments begin considering an exit strategy from the COVID-19 shutdown, members of the luxury sector are looking to China, where the epidemic first began but over the past month has being reopening for business.
With the worldwide battle to contain and defeat the COVID-19 coronavirus in full swing, the diamond, jewelry and luxury industries are stepping up their efforts to support public health and the medical teams out in the field, and well as dealing with the economic fallout from the pandemic.
During these days of pandemic and social distancing, a lighter but a more uplifting story is sorely needed, and especially one that is sweet, or to be more precise sweet smelling.
It may seem early to some, but the time has arrived to beginning thinking about the world after the COVID coronavirus virus. Whether that is a matter of months or more than a year away, most analysts agree that the effects will be substantial, and often in ways that are unexpected. The diamond business will not be excluded.
Belgium is one of the countries that took a devastating blow from the COVID-19 pandemic. With more than 51,000 infections reported, the country’s the more than 8,400 people that lost their life made its per capita death toll the highest among all developed countries. In its efforts to prevent the spread of the disease, the government put much of the country into lockdown, and effectively shut down the economy. Two months later, it and its diamond industry are slowly returning beginning their return to normality.
As the COVID-19 coronavirus spreads further in countries around the world, the ripple effect of the pandemic continues to upend the business sector, with the diamond industry being no exception. A case in point is that, for the first time in 42 years, the Rapaport Group has announced it was suspending publication of its weekly price list for more than one month, until May 1.
Diamond deposits extracted from an exploration project on Baffin Island, which is part of the Canadian territory of Nunavut, and is the country’s largest water-bound landmass and the fifth-largest island in the world, has led geologists to a startling conclusion.
With international air travel reduced to a bare minimum as a result of the COVID-19 coronavirus, and an increasing number of countries allowing entry only to citizens and other legal residents, rough diamond mining companies are being forced to consider new alternative operating procedures in a sector where typically buyers have traveled in to examine good visually before purchasing them.
As the Israeli government ramps up restrictions on the public and the business sector, as part of its efforts to mitigate the spread of the CODID-19 coronavirus, the country’s diamond industry is scrambling to adjust to the new situation.
Alrosa, state-controlled Russian diamond mining company that is the world’s largest producer of rough diamond, has reported that revenues in 2019 fell 21 percent drop in rubles to RUB 238 billion ($3.32 billion). The company cited “weaker demand in the rough and polished diamonds market.”
The COVID-19 coronavirus continues to make it presence felt on the diamond and jewelry markets, with De Beers citing the worldwide epidemic as a primary reason for its cutting the size of rough diamond allocation in February, which was 36 percent down on the amount reported just one month earlier.
Diamonds, as we are discovering, are valued for much more than their physical beauty. Their physical properties are highly sought out by industry, medicine, industry, quantum computing technologies and biological sensing. No wonder then that they are gaining ever increasing attention in the scientific community.
To possibly understand what long-term impact the current coronavirus could have on the diamond business, it may be useful to consider a lesson from past industry history. It dates back to the months leading up and after the First Gulf War in 1991.
According to Kimberley Process (KP) rules, there is only current source of goods in the market that can be qualified as conflict diamonds, and those are rough goods being mined by artisanal miners in the Central African Republic (CAR).
De Beers reported its earnings for 2019, which are at the lowest ebb since a majority shareholding in the company was purchased by the miner Anglo American Corporation bought it in 2012.
The coronoavirus, which has dominated the world’s attention in the little more than three weeks since news about it first broke, is becoming as much an economic story as it is a health crisis. Indeed, while scientists are still unsure about whether it will eventually be qualified as a pandemic, it is already apparent that it is impacting on markets and economies on a global scale.
The past decade was a good one for those who invested in fancy colored diamonds. According to Fancy Color Research Foundation (FCRF), which last week published an analysis of the Fancy Color Diamond Index (FCDI) in 2019 and over the last decade. During the years 2010 to 2019 the general index showed a steady market price increase of 77 percent.
Coming off a strong holiday season, Americans are expected to set another record for Valentine’s Day spending this year, according to an annual survey released by the National Retail Federation and Prosper Insights & Analytics.
Some three years ago, in its 2017 Insight Report, De Beers identified self-empowered, self-purchasing women as among the diamond industry’s most promising sources of future growth.