Alrosa finished the year with a 6% increase in rough and polished diamond sales after a strong December in which the Russian miner's rough sales rose 44% year-over-year to $324 million from $228 million, which was also good for a 23% rise over November. The company sold $5 million in polished diamonds in December.
Tiffany & Co. has announced that, effective immediately, it will begin sharing with consumers the provenance (country of origin) of its diamonds weighing 0.18 cts. and up. This "Diamond Source Initiative", which Tiffany's calls "a significant step for diamond transparency," will go further than current industry standards, and responds to increasing consumer demand to know they are making responsible purchases.
"For the first time since 2011, 2018 saw the Israeli diamond trade stabilize," writes The Israeli Diamond Industry, bringing to an end what the President of the Israel Diamond Exchange (IDE), Yoram Dvash calls “a few years of crisis." According to the Diamonds, Gemstones and Jewelry Administration in the Ministry of Economy, exports of polished diamonds fell by only 2.5% percent to approximately $4.5 billion, representing an improvement over sharper declines in recent years, while polished imports reached $3.0 billion, an improvement of 4.1% over last year.
Laurelton Diamonds, a wholly owned subsidiary of Tiffany & Co. and supplier to the famous jeweler, will be holding tenders of rough as well as polished goods in Antwerp during the month of January. The tender of rough and sawn goods gets underway on Tuesday, January 8 at the Antwerp Diamond Tender Facility located in the Antwerp World Diamond Centre building, Belgium, and will continue until Thursday, January 17. The tender will include a selection of white and Cape Rough parcels in sizes from +5cts to -7 in regular and high quality assortments in Cts and Grs.
The downturn in India's diamond trade continued unimpeded in November, as its two critical indicators - polished-diamond exports and rough-diamond imports - tumbled once again. According to figures from the Gem & Jewellery Export Promotion Council (GJEPC), polished diamond exports fell to $1.56 billion, a decline of 12% as compared to the $1.78 bn exported in November 2017, and a 32% decline from $2.3 billion exported last month.
The rough diamond trade in Antwerp during the month of November was marked by a resurgence of imports and exports of lower-priced rough after three sluggish months concerning the volumes of goods traded, while the polished trade experienced a general slowdown.
Independent diamond industry analyst and consultant Paul Zimnisky, proprietor of the Zimnisky Global Rough Diamond Price Index, takes an in-depth look at developments in the laboratory-grown diamond market in his latest contribution to the discussion, "2018: The Year of the Lab-created Diamond". Here he focuses on the impact (or current lack thereof) that De Beers launch of its Lightbox lab-grown diamond line (announced late May 2018, first available late September 2018) has had on the pricing of laboratory-grown goods.
India’s polished diamond exports rose by 19% on a year-over-year basis during the month of October, reaching $2.31 billion compared to the $1.93 billion exported in October 2017, according to figures from the Gem & Jewellery Export Promotion Council (GJEPC). The strong showing was backed by the increased quantity of goods exported, up 8% to 2.9 million carats from 2.7 million a year ago, as well as an increase in the average price per carat, which climbed 11% to $791. However, polished exports fell slightly from $2.37 billion last month.
Following more than a year of detailed analysis, cutting and polishing by an elite team of gemologists and master craftsmen, Graff Diamonds has started to unveil some of the more than 60 polished diamonds cleaved from the 1,109-carat Lesedi La Rona. The polished diamonds, Graff writes, range in size from under a carat to in excess of 100 carats, each diamond will have D color, the highest grade for a diamond, and exceptional clarity. They will be set mounted as solitaire rings, earrings and pendants.
The Antwerp diamond trade in October booked value gains across all categories - particularly for polished-diamond exports and imports - with the exception of rough-diamond imports, which followed the recent decline in production and sales from the diamond miners.
Polished diamond prices in October gave back some of their gains for the year, as prices declined slightly ahead of India's Diwali festival, when polishing factories close for the month of November. This according to figures from Rapaport's RapNet Diamond Index (RAPI). Rapaport says inventory levels have risen but sentiment has not been dented as expectations for the US holiday season are positive.
The Antwerp World Diamond Centre (AWDC) and Alibaba Group announced today that they have entered an exclusive partnership to offer Antwerp certified diamonds directly to Chinese consumers via Alibaba’s B2C marketplace, Tmall. The cooperation agreement was signed in the framework of the first China International Import Expo (CIEE), which is being held this week in Shanghai.
India’s polished diamond exports rose by 6.6% during the six-month period ended September 30, 2018 (H1 FY 2018-19) despite a dip of 10.8% in exports during the month of September, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Exports of cut and polished diamonds from India during September fell to $2.37 billion from $2.65 bn in September 2017, while polished diamond exports from April-September 2018 increased $2.68 billion from the $11.90 bn exported over the same months last year.
The polished-diamond trade in Antwerp during September again witnessed a surging average price per carat, particularly for imports (+22%), however, the trading center remained quiet after the traditionally slow summer holiday, as a result of which the volume of goods traded declined notably. Some have attributed the September slowdown to the Jewish holiday period, while others tell us that Indian companies are still hesitant to acquire smaller goods, with many having already purchased what they need for the upcoming Diwali holidays.
A Fancy Pink diamond weighing 5.03 carats, VS1 clarity, sold for more than $2.9 million, or $583,551 per carat at Bonhams London Fine Jewelry sale last week (26 September), setting a new auction world record for a Fancy Pink diamond per carat. The previous auction record for a Fancy Pink diamond held by Sotheby's Geneva, May 2016, was $528,021 per carat.
While welcoming the Indian government's recent Increase of the import duty on jewelry from 15% to 20% as a way to strengthen the jewelry manufacturing sector, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) Pramod Kumar Agrawal said the hike on cut and polished diamonds and processed colored gemstones would negatively impact exports and trade of cut and polished diamonds.
Russian miner ALROSA's first “True Colours” auction of fancy colored diamonds garnered $9 million from 210 stones. Described as, "another significant step towards our goal of becoming the world leader in the production of coloured diamonds," the bidding was very active, the company said, and most of the lots were sold for well above their starting price.
In an effort to narrow the current account deficit (CAD), the Indian government on Wednesday increased the import duty on 19 'non-essential items' including polished diamonds, gemstones and jewelry, but excluded rough diamonds from the increase. The import duties on cut and polished diamonds, lab-grown diamonds and cut and polished colored gemstones increased from 5% to 7.5%.
The International Institute of Diamond Grading & Research (IIDGR), a member of De Beers Group, yesterday announced that its industry-first synthetic screening device, SYNTHdetect, was awarded Industry Innovation of the Year at the JNA Awards in Hong Kong. The announcement follows the launch earlier during the week of IIDGR's SYNTHdetect XL, a larger version of the original model that provides additional efficiencies for users, allowing a multiple pieces of jewelry to be screened at an even faster rate while using the same technology as the original SYNTHdetec.
The Israel Diamond Exchange (IDE) has appointed Eran Zini as its new Managing Director. After having served as senior advisor to Israel’s Minister of Justice, he joined Israeli pioneering electric car start-up Better Place, as head of government relations and regulation. He then joined a government company devoted to vocational rehabilitation for people with disabilities as head of operations, and a year later was promoted to Managing Director, a position he held until he was recruited by IDE.
Zini fills the vacancy left behind by Eli Avidar, who stepped down in April.
Rio Tinto’s iconic Argyle Pink Diamonds Tender is being showcased to connoisseurs and collectors from across Asia in Hong Kong; the miner has also unveiled a one-of-a-kind pink diamond and emerald necklace during a world exclusive preview in Hong Kong. Headlining the 2018 collection of 63 pink, red and violet diamonds is The Argyle Muse, a 2.28 carat polished oval diamond, the largest purplish red diamond ever offered at Tender. Rio expects it will be highly sought after by collectors and connoisseurs from Asia where the colour red is highly symbolic.
The polished-diamond trade in Antwerp rode a higher average price per carat, particularly for exports (+6%), to solid value gains during the traditionally slow month of August, when the industry takes a three-week hiatus. The volume of rough goods traded during the month declined notably without having much impact on the overall value of those goods, as the average price per carat for rough goods is also outpacing that of the year prior by approximately 6%.
Russian diamond miner ALROSA sold $294.9 million worth of rough and polished diamonds in the typically slow month of August, representing a 14% rise year-over-year. The miner sold $283.2 million worth of rough diamonds during the month, an 11% increase over the same period in 2017. Meanwhile, polished-diamond sales increased 516% y-o-y and 121% over July, earning $11.7 million, as the group hosted several sales.
Last week, the Antwerp World Diamond Centre (AWDC) and the University of Antwerp hosted an “Innovation and Diamonds” conference at the Antwerpsche Diamantkring - the only rough diamond bourse in the world - featuring internationally-recognized experts from across the spectrum of the diamond trade, including alternative financing, the impact of digital on the luxury segment, the feasibility of small-scale ethical mining, as well as the earthquake and aftershocks of De Beers’ foray into lab-grown diamonds: LightBox.
Russian diamond mining giant ALROSA is planning to showcase a unique collection of large, fancy-colored diamonds at the Hong Kong Gem & Jewelry Fair in September, reports Rough & Polished. The collection of diamonds the miner will showcase includes 250 stones of different shapes and colors (including very rare colors) - purple, pink, orange and vivid-yellow - and is said to be the largest collection of fancy-colored stones the company has ever presesnted.
Rising prices of rough and polished diamonds led to substantial value gains for Antwerp’s diamond trade in July, which surged during the weeks preceding its traditional August recess, according to data from the Antwerp World Diamond Centre (AWDC). Rough diamond imports surged by 23% and exports by 18% compared to the same month a year ago, while polished imports gained 28% in value and exports gained more than 8% compared to the month of July 2017.
Rio Tinto's Arglye mine in Australia - the world's main if not only source of pink diamonds - may be heading for closure in 2020, but not before going out with a bang. The miner will headline one of its last ever pink diamond tenders with the Argyle Alpha vivid pink diamond, weighing 3.14 carats, which was actually uncovered in 2015. It the largest stone of its color in the history of the annual sales event.
Antwerp's polished diamond trade in June rode rising prices to another month of gains, according to data from the Antwerp World Diamond Centre (AWDC), as the Belgian polished trade reasserted its modest upward trend in 2018. The value of polished exports increased 4% year-over-year to $1.04 billion despite 6 percent decline in the volume of goods traded, backed by a 10% climb in average price per carat, to $2,395 from $2,183. The average price did fall short of a May high of $2,688 per carat, likely skewed by the value of goods flowing to Las Vegas for the JCK trade show.
Polished diamond prices have been rising steadily in the first half of 2018, according to analysis on the RapNet Diamond Index (RAPI™), and this trend continued in June. Having risen by 3.4% in H1 2018, the index for 1-carat diamonds climbed another 0.8% in June. According to the RAPI, 0.30 ct. stones have continued to rise more sharply than any other category, gaining 3.1% in June and 9.7% since January.
This morning, the Antwerp World Diamond Centre (AWDC), together with its research center the Scientific and Technological Research Center for Diamonds (WTOCD), unveiled a revolutionary technology that fully automates and accelerates the diamond polishing process: Fenix. This technology fundamentally transforms that process that has not changed since Lodewijck Van Bercken, a 15th-century jeweler and diamond cutter in Antwerp, in 1456 discovered that diamond could be polished with diamond. Watch the preview video here.
Antwerp's polished diamond exports in May surged by 62% compared to April and increased 5% year-over-year, according to data from the Antwerp World Diamond Centre (AWDC), as the Belgian polished trade continues its modest 2018 climb. Polished exports rose to $1.18 billion from April, which achieved only $728.2 million, and outstripped May 2017 exports by $56.5 million. The rise was backed by a 13% increase over April in the number of carats exported, and a 4% increase compared to the same month a year ago.
Exports of polished diamonds from the world's largest manufacturing hub, India, remained steady at $1.99 billion during the month of April as compared to March ($2.03 billion), and jumped by 14% compared to the same month a year ago according to figures Gem & Jewellery Export Promotion Council (GJEPC). The increase in value compared to April 2017 stems from a rise in the volume of shipments, from 2.37 to 2.77 million carats (+17%), as the average price per carat fell slightly (-2%) to about $719 per carat.
The world's leader in rough diamond output, Russia's ALROSA, plans to boost revenue from selling rare, colored stones where demand is stable, according to the head of ALROSA's sales division Evgeny Agureev. The global market for polished colored diamonds is now dominated by Rio Tinto and De Beers, but it apparently ALROSA aims to makes some changes to its sorting and processing in order to compete. “We hope that ...
Hong Kong's imports and exports of rough and polished diamonds saw a solid to significant upswing across all categories during the first quarter of 2018 (Jan-March), according to figures published Diamond Federation of Hong Kong, China. Polished diamond imports to the trade hub increased by 10% in value to $5.17 billion from the import of nearly 5.3 million carats worth of the polished gems. Hong Kong's exports and re-exports rose by 4% to $3.53 billion from 3.7 million carats.
The Antwerp diamond trade in 2018 as a whole continues to outpace its performance during 2017, showing a double-digit increase in the value of rough goods traded and steady figures from the polished trade compared to the same period a year ago. According to figures published by the Antwerp World Diamond Centre, the rough diamond trade in April continued to shine, with the value of rough exports increasing nearly 17% year-over-year, while rough imports surged by 43%.
Israel’s polished-diamond exports declined 33% to $1.16 billion in the first quarter of 2018, according to Israel's Ministry of Economy and Industry as reported by Rapaport News. The results stand in sharp contrast to diamond exports in Q1 2017, which jumped to $1.696 billion as a result of international trade shows, and also fell well short of the $1.467 billion in exports recorded in Q1 2016.
India's cut and polished diamond exports increased by 4.2% to $23.7 billion for the financial year 2017-18 (April - March), while the value of rough diamond imports to the manufacturing hub rose by 10.6% to $18.9 billion, according to figures from the Gem and Jewellery Export Promotion Council (GJEPC). The average price per carat in the category of polished diamond exports saw an 18% increase, from approximately $614 per carat to $725 per carat.
Everledger today announced the collaborative launch of the Diamond Risk Platform with the Diamond Durability Laboratory (DDL), the only gemological laboratory that focuses on diamond damage and evaluating any type diamond for potential damage, in a move that will dramatically shift the risk assessment reporting of diamond damage into an innovative realm, the company said in a statement. With development commencing in 2016 and completed in Q1 2018, the Diamond Risk Platform creates, manages and stores DDL’s leading comprehensive risk assessment
The second edition of CARAT+, ‘The World's Premier Diamond Event’, is ready to get underway on Sunday, May 6. Today the organization reported that pre-show registrations have climbed 50% compared to the 3,000 people that attended the first edition last year, with individuals from more than 51 countries having registered to attend.
"Two diamond powerhouses are joining forces", writes Rob Bates of JCK concerning polished diamond manufacturer Rosy Blue taking a minority share in Leo Schachter, another of the world's leading polished diamond suppliers.
Sotheby's Magnificent Jewels and Noble Jewels auction to be held in Geneva on 15 May will feature some remarkable diamonds, most notably two large D flawless diamonds, each weighing over 50 carats, and the historic and highly important Farnese Blue, a Fancy Dark Grey-Blue diamond weighing 6.16 carats. Both of the diamonds belong to the highly rarefied sub-category of Type IIa diamonds, which make up just 2% of gem diamonds and boast the highest optical transparency. The first
Bonas, one of the world's leading diamond brokering and tender houses, will exceptionally hold a polished diamond tender at the upcoming CARAT+ Diamond and Jewellery Fair at the Antwerp EXPO. Bonas typically organizes rough diamond sales on behalf of eminent miners such as Braùna, Kao, Lucara, Mountain Province and Stornoway, and provides a variety of consulting services through every stage of the diamond pipeline, from manufacturing all the way through to marketing and retail.
The value of diamonds traded in Antwerp during the first quarter of 2018 (January - March) increased across the board compared to the same period a year ago, particularly in the rough diamond trade, aided by a surge in the volume and value of exported rough goods in March.
One of the foremost historic diamonds – The Farnese Blue – will appear on the market for the first time in history this spring, after having remained in the same family for over three centuries, according to a press release from Sotheby's auction house. The existence of the diamond was apparently unknown until recently, except for the relatives of the family and its jewellers.
Exports of cut and polished diamonds from India during the month of February 2018 remained virtually flat at $ 2.427 billion, 0.50% over the same month last year, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). The average price rose 6% to $791 per carat. However, while exports of cut and polished diamonds remained flat, rough imports rose by 11.35% in value terms during the month to $1.68 billion as compared to US$ 1.51 bn imported during the previous February.
Tiffany & Co. has announced the impending discontinuation of its manufacturing activities at its Antwerp subsidiary, Laurelton Diamonds, with the internal company reorganization coming as a result of changing market conditions. The manufacturing unit will be dismissing 24 of its 27 employees, confirming the speculations that have been circling through Antwerp's diamond district for more than a week.
Diamonds and other precious stones forming part of a Czech National Museum collection in Prague, assumed to be worth millions of dollars, were discovered during a routine audit to be fakes and synthetics. The cheap imitations include a 5-carat diamond, which is just a piece of glass, and a 19-carat sapphire which turned out to be synthetic. As told by Radio Praha, "The major reconstruction of the headquarters of the National Museum in Prague has revealed more than just peeling paint and cracks in the walls.
The Israel Diamond Exchange (IDE) launched the International Tender Center (ITC) in February last year to attract major diamond producers and trading companies to the market and make goods available to bourse members. According to the organization, the ITC "has succeeded beyond expectations during its first year of activity." So much so, the bourse has announced that the center will be expanded later this year to encompass a venue for live auctions.
After shooting out of the starting blocks in January with significant increases across the board, imports to and exports from the diamond capital came back down to earth in February, following De Beers' pattern from its second sight of the year where rough sales fell 17% from January. According to figures published by the AWDC, February rough diamond exports fell 21% in volume and 6% in value to $1.02 billion from $1.09 billion in February last year.
The Federation of Belgian Diamond Bourses (FDBD) and the Antwerp World Diamond Centre (AWDC) have signed on as partners for the second edition of CARAT+ to be held in Antwerp from from May 6-8. Under the agreement, Easyfairs - the organizer of CARAT+ - and the Antwerp diamond industry "will combine their efforts to continue to build an ambitious vision for the future of the international diamond business", according a press release from the organization. The organization of CARAT+ in the Antwerp Expo Halls, with large spaces and logistical facilities, meets the demands of exhibitors and vis
Is it appropriate for the diamond industry to offer mass quantities of loose one-carat diamonds at these events? What is the message we are sending to the high-end consumers who frequent trade fairs, if they see high-end diamond jewelry pieces at one booth, and then loose diamonds in large quantities offered at wholesale prices at another booth? Does this help us promote diamonds as a rare creation of earth or harm those efforts? Isn’t it clear that we are hurting our own business with these actions? Healthy trade is based on daily sales out of the office or at the customers’ businesses, not at trade shows ... The high costs of exhibiting, the difficulty of making the right price, the possible degradation of the positioning of polished diamonds, all require us to carefully consider our trade fair strategy.
- Ehud Arye Laniado, "Reconsidering Trade Shows"
ALROSA plans to hold two auctions of rough and polished diamonds at the Hong Kong International Diamond, Gem & Pearl Show, taking place from February 27 to March 3, 2018, the company writes in a press release. ALROSA's United Selling Organization (USO) auctions special size rough diamonds over 10.8 carats, and will be putting 121 gem-quality lots with a total weight of 1,949 carats up for sale during the show. The weight of the largest diamond is 47.08 carats.
India's polished diamond exports during the month of January 2018 rose to US$2.08 billion from US$1.62 bn in January 2017, a jump of 28.8% according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Meanwhile, rough imports were up by 13.68% in value terms during the month to US$1.44 billion as compared to US$1.27 bn imported during the previous January. In volume terms, however, rough imports declined from 15.3 million carats during January 2017 to 13.3 million carats during January this year.
Israel's diamond trade decined in terms of the volume and value traded for the third straight year, according to Israel's Ministry of Economy and Industry as reported by Rapaport News. The industry's polished exports fell 4% on the year to just under $4.5 billion, while volume of polished exports fell 6% to 1.7 million carats. Rapaport further notes that exports to the US, the largest market for the Israeli diamonds, declined 7% to $1.69 billion, while shipments to Belgium bounced back, surging 20% to $420 million.
The fourth quarter of 2017 saw a slight rise in fancy color diamond prices over the previous quarter, thanks to continued appreciation from blue stones, writes The Fancy Color Research Foundation (FCRF) in a press release. The significant increases in prices of fancy blue diamonds were offset by continued softness in fancy yellow diamonds and stagnation in fancy pink diamond prices. The Fancy Color Diamond Index in Q4 2017 indicates an overall rise of 0.1% over Q3 2017 for fancy yellow, pink and blue diamonds in all sizes and saturations.
The Indian government has raised import duty on cut and polished diamonds and coloured gemstones from 2.5% to 5% in the Union Budget 2018-19, and the country's diamond trade is not pleased. Announcing the 2018 budget, and in an attempt to protect the local industry Finance Minister Arun Jaitley doubled the import duty on cut and polished diamonds, coloured gemstones and lab-grown diamonds and also raised customs duty on imitation jewelry from 15 to 20 percent.