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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Mother’s Day, which is scheduled to be celebrated in the United States on May 8, is being widely forecast as the next major jewelry gift-giving opportunity. According to the annual consumer survey conducted by the country’s National Retail Federation and Prosper Insights & Analytics, total spending is expected to total $31.7 billion this year, up $3.6 billion from 2021’s record spending.
Alrosa can do little to keep the Russian war effort going or to stop it, but it will attract public attention. Two countries in particular will decide whether its goods continue flowing, and neither is European. The first is the United States and the second India.
Few of the branded cuts introduced after De Beers changed its distribution policy in 2000 survived, with the reason for their failure being that almost none of the inexperienced diamond manufacturers could make the capital investment necessary to launch and maintain a consumer brand. But branded cuts appear to be making a comeback, however not in the way that was envisioned 20 years ago.
By definition, an aphorism is as overgeneralized observation that still contains a kernel of truth. In the jewelry and diamond business, there are aphorisms that generalize about the characteristics of generational consumer groups, assuming that age alone is a predictor of buying inclination and behavior.
Why if you are celebrity with cash on hand and love in heart, should you make do with only one diamond, especially when your relationship is going into its second round? That’s the question that Ben Affleck asked himself, when considering how to express his feeling for his former and once again current fiancée, Jennifer Lopez.
First quarter data from the diamond industry does not yet show any marked impact from the current geopolitical situation, although the long-term results may still be difficult to gauge. Many of the results also cover the period prior to Russia’s invasion of Ukraine, and the imposition of sanctions on rough diamond imports from Alrosa by the United States and Great Britain.
With the fallout being experienced by the war in the Ukraine, conclusive proof seems to be delivered up daily that, in the 21 Century, all events are interconnected. The Eastern European country, which is home to neither a single diamond mine or a diamond market of much significance, has nonetheless exposed the difficulties inherent in sourcing responsibly in the luxury industries.
One of the major influences on performance the jewelry industry over the years has been the Indian wedding seasons, typically running from October through December and then again in April and May. India celebrates between 10 million and 20 million weddings per year, of which about 80 percent are in the Hindu tradition. The Indian wedding business is estimated to be worth as much as $50 billion per annum, and gold jewelry and increasingly diamond and gemstone-set jewelry play a key role.
The auction house Christie’s has announced that a 228.31-carat pear-shaped diamond will lead the Geneva Magnificent Jewels sale on May 11, 2022, as part of its Christie’s Luxury Week. Called “The Rock,” its pre-sale estimate is between $20 million and $30 million.
Ahead of the 2022 NFL Superbowl, the company operating Facebook, Instagram and Whatsapp announced that following the football game it would be hosting a live virtual reality concert featuring the popular rock group Foo Fighters. For those fans who managed to attend, it must have been a surreal event – digitally present, while physically distant. It was a taste of what is to come, and entertainment is just part of the story.
In the metaverse, people will have a “virtual presence,” meaning that they will not be observing life in the digital dimension through a screen from the outside, but they will feel that they actually exist within it, as one does the real world. In the metaverse, they will be able to communicate with others in the same space, as one does physically in regular life.
After a torrid 2020 as a result of the worldwide COVID pandemic, 2021 saw a dramatic recovery of the luxury product market, and many expected more of the same in 2022. But with war in Ukraine, a belligerent Russia in the grip of sanctions, and China and Hong Kong seeing a dramatic rise in Omicron infections, analysts are no longer as confident.
Could this be a sign of what is to come? Informa Markets Jewellery has announced that Jewellery & Gem World (JGW), the world’s largest jewelry show, will be relocating from Hong Kong to Singapore this September. The move, the company stressed in its release, is a one-off special arrangement applicable only in 2022.
With sanctions limiting the exports of diamonds and other precious items from Russia, there has been less attention of what the economic blockade is doing within the country, which over past two decades has evolved into an important outlet for luxury products brands.
Like all other business sectors, the diamond industry continues to feel the aftershocks of the Russian invasion of Ukraine on February 24, and the imposition of a steadily escalating series of economic sanctions against Moscow, imposed both governments and voluntarily by private companies.
A detailed report appearing in Israel’s respected Ha’aretz daily revolved around a topic that is not often discussed in the diamond industry – intellectual property. The subject of the article was the country’s most renowned developer of technology for the sector, a company that is best known for devices to plan, analyze and grade rough and polished diamonds.
The invasion of Russian forces into the neighboring country of Ukraine on February 24, 2022, and the furious international reaction it has evoked, including the imposition of severe economic sanctions and the closing of European airspace to Russian airlines, has thrust the diamond industry into a state of confusion.
Anglo American, majority shareholder in the De Beers Group of companies, has released the results of its subsidiary in 2021, noting that total revenue increased significantly to $5.6 billion, up from $3.4 billion in COVID-stricken 2020, with rough diamond sales rising to $4.9 billion, up from the $2.8 billion a year earlier.
A lawsuit is catching the attention of some in the diamond sector, because it signals what some believe is could be the industry’s next reputational challenge. Involved is a complaint by residents of Koidu, a mining area in Sierra Leone’s diamond-rich Kono district, in the northeast of the country. They are are suing the operators of a local diamond mine who they claim has polluted the environment.
An exceptional fancy colored diamond called the De Beers Cullinan Blue is set to be auctioned at a standalone, single-lot sale at Sotheby’s in Hong Kong on April 27, 2022, and in all likelihood will garner one of the highest prices ever paid for a gemstone at a public sale. Weighing 15.1 carats, it is the largest internally flawless step cut vivid blue diamond GIA has ever graded.
With most countries’ governments relaxing the stringent COVID restrictions they had imposed in 2020, in 2021 the personal luxury and diamond jewelry markets experienced decade-high growth, respectively increasing in size by 35 percent and 29 percent, according to the diamond report published this monrth by Bain & Company and the Antwerp World Diamond Center (AWDC). Such was the case even with the outbreak of coronavirus variants, where consumer optimism was propped up by the vaccination campaigns in major diamond-consuming regions.
Following a rollercoaster 2020, during which the diamond industry proved its resiliency, a “brilliant recovery” was staged in 2021, with every sector of the industry performing well, noted Bain & Company and the Antwerp World Diamond Center, in the 11th of their annual reports on the diamond industry. The market is expected to remain strong through the first half of 2022, the research paper added.
China’s luxury product market is on track to become the world’s largest by 2025, moving the United States out of first place, states a new report issued by Bain & Company, authored by two analysts Bruno Lannes and Weiwei Xing. Globally, mainland China’s share of the luxury market grew from about 20 percent in 2020 to approximately 21 percent in 2021.
In a press release issue on February 1, the Rapaport Group reported that its RapNet Diamond Index for 1-carat polished diamonds had risen 6.9 percent during January 2022, and it was up 26.3 percent year on year as of February 1. It was not the only sign of a robust market.
After a holiday season that grew 14.1 percent over 2020 to $886.7 billion, the U.S. retail sector is now looking toward a Valentine’s Day spending, which the National Retail Federation forecast will reach $23.9 billion this year, up from $21.8 billion in 2021.