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Hong Kong's 1Q Polished Imports +4%
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Hong Kong’s polished diamond imports rose 4 percent year on year to $4.485 billion in the first quarter of 2013, according to data published by the Diamond Federation of Hong Kong China Limited. By volume, the imports increased 5 percent...
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Polished Markets
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May 16, 2013
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Avi Krawitz
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Christie's Geneva Sale Totals $102M
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Christie’s Geneva sale of magnificent jewels totaled $102.1 million (CHF 98.8 million) with the top lot setting a record auction price for a colorless diamond. The auction sold 86 percent by lot and 93 percent by value....
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Polished Markets
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May 16, 2013
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Avi Krawitz
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De Beers Raises Prices 4% at Its $600M May Sight
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The De Beers May sight had an estimated value of $600 million as the company raised its rough diamond prices by approximately 4 percent. The price hike reflected a change in list prices on various goods as well as adjustments made...
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Rough Markets
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May 14, 2013
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Avi Krawitz
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Demand Driven Ethics
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The diamond industry should be encouraged by new initiatives to enhance the integrity of the global supply chain, not be threatened by them. Therefore, criticism of the April 30 meeting in Paris to discuss responsible supply chains for precious stones...
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Fair Trade
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May 10, 2013
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Avi Krawitz
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Okavango to Hold First Diamond Auction in June
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The Okavango Diamond Company will hold a pilot sale of rough diamonds on June 26. The sale is intended to test the company’s systems before it launches full, regular auctions in September.Okavango will invite 50 companies to view...
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Rough Markets
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May 07, 2013
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Avi Krawitz
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WDC Appoints Avi Paz as New President
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The World Diamond Council (WDC) appointed Avi Paz its interim president to replace Eli Izhakoff until the next WDC elections. Izhakoff will officially step down from the role on June 30, 2013...
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Polished Markets
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May 06, 2013
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Avi Krawitz
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India's March Polished Exports +10%
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India’s polished diamond exports rose 10 percent year on year to $2.337 billion in March 2013, according to the Gems & Jewellery Export Promotion Council (GJEPC). By volume, the exports grew 7 percent to 4.552 million carats. Polished...
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Polished Markets
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May 05, 2013
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Avi Krawitz
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Big & Beautiful Diamonds
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Unique diamonds are the talk of the town. While the rest of the trade struggles along, dealers at this week’s Basel show reported strong demand at the very top-end of the market. Therefore, as the jewelry...
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Polished Markets
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May 03, 2013
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Avi Krawitz
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Expensive Basel Show Frustrates Diamond Suppliers
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Diamond exhibitors reported steady sales and strong demand for unique stones at the Basel show; however, they were frustrated by show expenses and venue changes made at this year's fair. “It’s an expensive show...
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Polished Markets
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Apr 30, 2013
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Avi Krawitz
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De Beers Estimates Diamond Jewelry Demand +3% in 2012
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Consumer demand for diamonds grew by 2 percent to 3 percent in 2012, according to De Beers estimates, a considerable drop from the 10 percent rate recorded in the previous two years. The markets were negatively impacted by weakening macroeconomics and...
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Retail
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Apr 30, 2013
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Avi Krawitz
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Israel
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Business Returns to Realistic Levels Activity in the Israel Diamond Exchange (IDE) quieted in April as the Passover festival and the country’s Independence Day celebrations somewhat disrupted business. For many, the break signaled a return to a more realistic, lower level of trading than seen in March, when business...
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Polished Markets
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Apr 30, 2013
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Avi Krawitz
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ALROSA's Profit +26% in 2012
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ALROSA reported that its profit rose 26 percent year on year to $1.08 billion (RUB 33.6 billion) in 2012 as it increased the volume of sales, while rough diamond prices declined. The Russia-based mining company noted...
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Mining
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Apr 28, 2013
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Avi Krawitz
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Increased Diamond Production
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Diamond mining companies are slowly raising their production levels even as many of the major mines continue to face operational challenges. Theoretically, the trend should ease cutters’ concerns about prevailing high rough prices...
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Rough Markets
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Apr 26, 2013
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Avi Krawitz
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Baselworld Unveils New $454M Exhibition Space
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The management of the Baselworld trade fair unveiled its renovated exhibition space on Wednesday that was constructed at a cost of $454 million (CHF 430 million). “The new exhibition venue is the largest investment ever made...
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Polished Markets
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Apr 24, 2013
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Avi Krawitz
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Luk Fook's Same-Store Sales in China +14% in 1Q
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Luk Fook Holdings, a Hong Kong-based jeweler, reported that same-store sales in Mainland China rose 14 percent year on year in the fourth fiscal quarter that ended on March 31, 2013. Same-store sales in Hong Kong and...
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Retail
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Apr 21, 2013
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Avi Krawitz
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Gold and Diamond Risk
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The recent slump in gold prices has not impacted the diamond market. Having enjoyed a stable and positive first quarter, diamond trading was steady this week while gold markets were in panic. However,...
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Polished Markets
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Apr 19, 2013
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Avi Krawitz
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Ekati Diamond Mine Production -26% in 3Q
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BHP Billiton reported that production at the Ekati diamond mine in Canada fell 26 percent year on year to 322,000 carats in the third fiscal quarter that ended on March 31, 2013. Ekati production is down 32 percent...
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Mining
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Apr 17, 2013
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Avi Krawitz
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Swiss Watch Exports -3% in Feb.
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Swiss watch exports fell 2.5 percent year on year to $1.73 billion (CHF 1.61 billion) in February due mainly to softer demand from China and Hong Kong, according to the Federation of the Swiss Watch Industry.Exports...
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Retail
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Apr 15, 2013
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Avi Krawitz
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Japanese Yen and Diamond Dollars
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Japan’s new government, elected this past December, seems intent on depreciating its currency as a means to stimulate the economy. A weak yen has mixed implications for the diamond and jewelry trade. As a net importer of polished...
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Polished Markets
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Apr 12, 2013
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Avi Krawitz
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State Govt. Raises VAT Charge on Mumbai Diamonds
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India’s Maharashtra State government raised the rate of value-added tax (VAT) for diamonds and precious metals sold in the state on April 1. The increase pertains to diamonds traded in Mumbai, the capital city of Maharashtra...
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Polished Markets
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Apr 10, 2013
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Avi Krawitz
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