Russia's Alrosa has appointed Rebecca Foerster as President ALROSA USA Inc., and will mainly be responsible for the development of polished diamonds sales and customer service. ALROSA’s office in New York was opened in 2006, but it has not been operating since 2016 for organizational reasons. The full-scale operation was resumed in 2018, when two rough diamond auctions were held there. This year, ALROSA plans to hold four rough diamond auctions in New York and significantly increase its office activity in selling its own polished diamonds.
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.
A ring made by Bulgari and set with fancy vivid blue diamond weighing 8.08 carats was sold for $18,312,500 at Christie’s New York Magnificent Jewels auction, beating its presale estimate of $13 million to $18 million. The cushion-cut Type IIb Fancy Vivid Blue of natural color, VS2 clarity garnered $2.27 million per carat, and was the top lot at the Magnificent Jewels auction, which totaled $69,225,750 and also included a rare, 15.56-carat heart-shaped pink diamond set in a pendant, selling for $9,537,500.
Russian diamond miner ALROSA recently concluded an auction of special-sized (10.8 carats and above) rough diamonds in New York, earning $7.9 million from the sale of 1,300 carats for an average price of approximately $6,077 per carat. This by far outstrips the average price the miner recently earned at an auction of the same category of diamonds in Hong Kong, which achieved $4,790 per carat.
Russia's ALROSA, the world's largest diamond mining company, has commenced a rough diamond auction in New York, featuring 81 rare gem-quality 'specials' (diamonds larger then 10.8 carats) discovered in 2017-2018. The auction will include some of ALROSA's most unique recent recoveries, such as a transparent 98-ct diamond with a yellowish hue (pictured above) and a diamond weighing over 100 carats. Both stones were mined at the Yubileinaya pipe in Yakutia.
Tiffany & Co. announced earlier this week it would undertake a three-year renovation of its iconic flagship store on Manhattan’s Fifth Avenue, made famous by the film Breakfast at Tiffany’s and "one of the most recognized jewelry retail spaces in the world," according to Anthony DeMarco.
Russian diamond miner ALROSA reopened its representative office in New York and promptly sold 63 lots of special size rough diamonds (+10.8 carats) with a total weight of 1,040 carats for $10.38 million at its first NYC sale in two years. The auction was held in the period from April 23 to May 11, earning a robust average price per carat of approximately $9,980. In total, 50 companies from world’s largest diamond trading centers, including 7 firms from the USA and 43 from Belgium, India, Israel and the United Arab Emirates, took part in it.
Twelve suspected Russian gangsters stole $9-10 million in diamonds from wholesalers in Midtown’s Diamond District, federal prosecutors said Wednesday. A long-running investigation into international diamond fraud led to the arrest of ten (or nine, depending on source) Russians who allegedly cost their victims nearly $10 million, reports several U.S. news outlets. The scam victimized diamond dealers in New York City, Las Vegas and Mumbai.
Diamond Dealers Club (DDC) of New York is moving to the International Gem Tower on West 47th Street in New York City, from its longtime home at 580 Fifth Ave. President Reuven Kaufman said the move is, "critical to the future success and stability of the diamond industry on 47th Street in New York." The DDC's new home will be approximately 17,500 square feet on the 11th floor, including a new open trading floor with state of the art technical facilities, cafeteria and break area, according to a statement.
Tiffany & Co. has unveiled a short film on its diamonds, highlighting their journey through Tiffany's vertically integrated supply chain from mine to their studio in Antwerp, from Antwerp to the company’s polishing workshops in Mauritius and their final journey to New York. The film gives the viewer unprecedented access inside from inside three critical junctures of the journey from responsible mining to sorting, marking, cutting, polishing, grading, setting – and finally, the famous Tiffany Blue Box®.
Last week Sotheby’s auction house sold $29.7 million worth of jewelry in 2 separate auctions in New York. The most expensive lot being a diamond ring from the collection of philanthropist Marjorie S. Fisher. The ring being one of over 300 jewels that were sold at auction and once belonged to the late Fisher, whereof many pieces have a distinguished provenance.
Christie’s Magnificent Jewels Auction, which took place at the Rockefeller Plaza in New York on Wednesday, saw $51 million worth of jewelry go under the hammer. A GIA-certified Type IIa rectangular, 51.35-carat, D-color, VVS1 diamond fetched a whopping $5.6 million - over $108,000 per carat - well within the estimated $5 to $7 million.
A major diamond ring offered for sale by Sotheby’s at its September 22 Important Jewels auction in New York City failed to sell, reports JCK. The headline item, a 27.35-carat D color, VS2 diamond, had an estimate of $2 million–$2.5 million. Sotheby’s did not provide the top price offered for the item. The auction raised a total of $8.6 million.
A New York security guard who took $5 million in diamonds accidentally thrown on a pile of garbage by construction workers outside a jewelry store will avoid jail time by agreeing to a plea. Wilfred Martinez, 48, pleaded guilty to grand larceny in Manhattan Supreme Court in exchange for six months probation, the New York Post reported.
Bruce Cleaver, CEO, De Beers Group, joined world leaders, including US President Barack Obama, US Secretary of Commerce Penny Pritzker, US Secretary of State John Kerry, Michael R. Bloomberg, various African heads of state, and other private sector CEOs from the US and Africa, to examine the partnerships that have led to deepened business relationships and the exciting potential for growth in Africa. The meeting took place in the framework of the second US - Africa Business Forum, hosted by the US Department of Commerce and Bloomberg Philanthropies at the Plaza Hotel in New York.
Diamond and jewelry tycoon Lev Leviev has won more than $100 million from an arbitration panel in battle against his former business partner, the Julius Klein Group, The New York Post and other sources report. Lawyers for losing side tried but failed to have the court documents sealed in the Manhattan federal court case. But Judge Andrew L. Carter Jr. agreed only to redact the amount of the award, which the Post cited industry sources as saying was “well north of $100 million.”
Upscale jeweler Tiffany & Co. has appointed Mark Erceg to become its next executive vice president and chief financial officer, responsible for the company's worldwide financial, indirect procurement and information technology functions. His appointment will become effective on October 18. He replaces Tiffany's former chief financial officer who left in May. Erceg comes to Tiffany's from outside the jewelry industry, having been the CFO and executive vice president at Canadian Pacific Railway since May 2015.
The Diamond Producers Association (DPA), an international alliance of the world's leading diamond mining companies formed to promote generic marketing, has appointed Deborah Marquardt as Chief Marketing Officer. Marquardt will lead all U.S. activities for the DPA, with a focus on integrated marketing and media initiatives, and will report directly to CEO Jean-Marc Lieberherr. She and her team will work closely with the U.S. diamond and jewelry trade, as well as media, to promote the diamond category with U.S. consumers.
The Jewelers Vigilance Committee (JVC) has appointed Miya Owens as its Assistant Counsel, replacing Sara Yood who was recently promoted to be the JVC's Senior Counsel. Owens has extensive experience in anti-money laundering and regulatory compliance counseling as well as a mediator. Owen will support the work of JVC legal department. She will primarily be engaged in mediation work, to assist resolving the nearly 300 cases JVC undertakes each year. She will also perform legal research and answer member questions relating to their compliance obligations.
Cartier is preparing for the reopening of its flagship store on New York’s Fifth Avenue following renovations at the 653 Fifth Avenue maison that began in 2014. The jewelry giant opened a temporary storefront further up the famous New York street to ensure service continued for locals and travelers alike. The September opening that dovetails with the fashion shows in the city.
The Board of Directors of the Jewelers Vigilance Committee has created a search committee to identify and hire a President, CEO & General Counsel to replace Cecilia Gardner, who is stepping down from the position in 2017. Steven Kaiser, Chairman of the Board of Directors of JVC, said: “We are grateful for Cecilia’s 18 years of service to the JVC and her unwavering dedication to ethics and legal compliance in the jewelry industry.
The Diamond Dealers Club (DDC) of New York, and India's Gems & Jewellery Export Promotion Council (GJEPC) held the fifth edition of the India Diamond Week on the DDC’s trading floor this week. The DDC said in a statement that 60 exhibitors and several hundred buyers took part. “We welcomed diamantaires from India to our trading floor in order to create new connections, build on existing relationships, and generate success for our industry,” said DDC President, Reuven Kaufman.
The 47th Street Business Improvement District in New York is holding two New York Police Department (NYPD) led seminars for the jewelry and diamond trade to learn how to respond to shooters and terrorism awareness. The seminars will take place on August 29 at 576 Fifth Avenue, JCK reports. “Particularly in light of the many violent events the world has recently experienced, these timely seminars by the experts at the NYPD will be valuable for everyone in the jewelry industry,” the 47th Street Business Improvement District said.
The World Diamond Council (WDC) will hold its 12th Annual General Meeting (AGM) at the Waldorf Astoria Hotel in New York City from September 7-9. The AGM will discuss the Kimberley Process (KP), the implementation of the WDC’s first-ever Strategic Plan, and an enhanced communications platform. The WDC represents the diamond industry in the development and implementation of regulatory and voluntary systems to control the trade in diamonds embargoed by the United Nations or covered by the Kimberley Process Certification Scheme.
A former New York diamond dealer who has become a property mogul is aiming to fundamentally transform the city’s Diamond District, according to a report in the New York Post. Gary Barnett has spent years buying 10 buildings in the Diamond District’s 47th Street, 46th Street and Fifth Avenue corridor, and his plan is to demolish them all — perhaps to build a giant diamond hotel, the report says. “We don’t know what he’ll build there. It will all depend on financing,” a source said, adding that jewelers, gem cutters and diamond exchanges are worried about being priced out of the area.
The owner of an engagement ring that Donald Trump gave to former wife Marla Maples is hoping the huge media coverage of Trump's presidential bid will help create extra interest in the sale at auction of the ring. The auction is being handled by estate jewelry auctioneer Joseph DuMouchelle, and the ring could sell for $300,000 or more. Trump proposed to Maples with the 7.45-carat Harry Winston ring in 1991. Maples put the ring up for auction following their 1999 divorce, where it sold for $110,000, which she donated to charity.
The 'Cullinan Dream' has taken over as the largest and most expensive fancy intense blue diamond ever sold at auction after going under the hammer at Christie’s New York Magnificent Jewels sale on Thursday for $25.3 million. Interestingly, however, after the high prices seen in recent auctions, the 24.18-carat cut-cornered rectangular mixed-cut gem sold at the low end of its $23 million – $29 million estimate.
Sotheby’s has entered into a partnership with a manufacturer of large fancy colored and rare stones and a private New York jeweler for what is perhaps the world’s most valuable diamond, according to a report by Forbes. “Diacore and Mellen Inc. have acquired an ownership interest in one of the world’s natural treasures: the remarkable Pink Star diamond,” the auction house said in a brief statement distributed to a restricted number of people. “The three parties have formally partnered to achieve the value of the 59.60-carat stone, which Sotheby’s holds in its inventory.”
De Beers' Auction Sales unit will conduct viewings of Exceptional and Special Stones at the International Institute of Diamond Valuation (IIDV) offices in New York, ahead of its Cycle 6 auctions. It will be the first time that De Beers’ Auction Sales business has held viewings in the US. The viewings will take place from June 28-30, with the auction scheduled to take place on July20.
Gemfields has named Sally Morrison director of marketing and sales, Americas. She was until recently the managing director of marketing at the Diamond Producers Association which aims to promote diamonds generically. She previously held senior roles with A Diamond Is Forever, Forevermark and the World Gold Council. Gemfields CEO Ian Harebottle said that Morrison's role "will be pivotal as we continue to expand and the U.S. announces several new marketing strategies.”
Lower diamond – and precious metals – prices are helping luxury jeweler Tiffany & Co. which has been hit by currency fluctuations and an uncertain global economy, the firm said in a conference call on Friday, Bloomberg reports. Lower metal expenses have already driven an improvement in profitability, and the benefits from cheaper diamonds will show up in results next year, Tiffany said. The retailer has suffered from lower tourism spending, the strength of the U.S. dollar, and slower demand for luxury goods overseas.
All spots for the Jewelry Industry Summit taking place from March 11 to 13 in New York have been filled, JCK reports. The conference, billed as an open forum on sustainability and responsible sourcing in the jewelry industry, aims to hear all viewpoints, from miners to retailers.
Jewelry and other valuables from the estate of comedienne Joan Rivers who died in 2014, including items created by Cartier, Van Cleef & Arpels, Harry Winston, Fabergé, and Tiffany & Co., will also be sold in a sale from June 16-23, the auction house announced. More than 200 lots will be offered in a live sale on June 22 and approximately 80 lots in an online auction.
The Gemological Institute of America (GIA) has graded the largest polished blue synthetic diamond that the organization has ever examined. The emerald-cut, 5.03-carat HPHT Type-IIB stone was made by New Diamond Technology (NDT), based in St. Petersburg, Russia. The firm is one of the founding members of the International Grown Diamond Association which was launched earlier this month. The stone was inspected at the GIA's New York lab last month and received a fancy deep blue grade, according to a lab. The GIA published an exhaustive article on the stone's characteristics.
The Jewelry Industry Summit, an open forum on sustainability and responsible sourcing in the jewelry industry, has announced some of names of speakers and session presenters for its March 11-13 conference in New York. “The summit is organized to hear all viewpoints, from miners to retailers,” said Barbara Wheat, executive vice president of the Natural Color Diamond Association, who is a member of the planning committee.
More than 60 Indian exhibitors and several hundred buyers took part in the first day of the fourth India Diamond Week (IDW) being held this week on trading floor of the Diamond Dealers Club (DDC) in New York. The event is being held from January 18 to January 21. The trading event is one of several such inter-bourse shows held around the world, and is jointly organized by the DDC and India's Gem and Jewellery Export Promotion Council.
Without great fanfare, Los Angeles has become America's second-largest diamond-cutting center after New York and is dominated by Armenian immigrants who sell to wealthy buyers in China and elsewhere looking for intricate jewelry made with traditional craftsmanship, reports Bloomberg. "Los Angeles has the largest Armenian population outside of Armenia and many are involved in the jewelry trade. They’ve helped fuel explosive growth in the region’s diamond business that exported $4.6 billion last year, up from $34 million a decade earlier.
Tiffany & Co. shares rose on Tuesday after the upscale jeweler's stock was upgraded to buy from hold by investment house Jefferies. Analysts at the firm substantially raised forecasts for Tiffany's shares – to $100 from $88. In a note to clients, the firm said there was "a rare opportunity to get a high-quality company at a discount," and that Tiffany is a "powerful" and stable luxury brand that is improving its systems and supply chain.
Up to $10 million in diamonds were 'stolen' from a New York jeweler who admitted he had failed to lock the safe where the gems were stored. Jonathan Birnbach told police that he discovered $5 million to $10 million worth of diamonds missing from the vault in his business in the heart of the Diamond District.