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Wholesale: Strong Buying Continues
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U.S. wholesalers say that select retailers are beginning to buy diamonds with cash to avoid further price increases down the road, which the entire industry is anticipating. “Everyone needs goods right now — from retailers to wholesaler dealers to jewelry manufacturers,” said Atit Mehta, vice president...
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Polished Markets
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Apr 01, 2011
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Denise Romano
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Jewelry Export Seminar
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The 47th Street Business Improvement District (BID) recently hosted a jewelry export roundtable at the Diamond Dealers Club in New York City. The U.S. Department of Commerce, Reed Exhibitions, the U.S. Department of Customs and ATA Carnet were on hand to address such topics as promoting U.S. trade...
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Manufacturing
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Mar 01, 2011
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Denise Romano
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Scrambling for Goods
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It’s no secret that India’s and China’s booming markets are raising rough prices — making U.S. wholesalers feel a bit uneasy. “Prices are very high today and there is a scarcity of goods,” said Jay Moskovitz, vice president of Robert Moskovitz Co. in New York City. “If you...
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Rough Markets
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Mar 01, 2011
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Denise Romano
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Market Slowly Coming Back
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There is no question that rough prices are rising, and U.S. wholesalers say it’s due to a shortage of supplies. “Production is less than normal and all commodity prices are going up,” said Raphael Maidi, president of Maidi Corporation, located in New York City, which specializes in fancy color...
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Polished Markets
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Feb 01, 2011
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Denise Romano
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Holiday Sales Beat Expectations
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Santa Claus came this year after all. According to MasterCard Advisors’ SpendingPulse, total holiday retail sales for the period between November 5 and December 24, 2010, increased 5.5 percent over 2009 to $584 billion. 2009 sales increased only 1.1 percent over 2008, to $446.8...
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Retail
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Jan 01, 2011
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Denise Romano
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Memo Keeps Prices Buoyant
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Wholesalers in the U.S. say they are not seeing any price resistance, which they attribute to a number of reasons. Avi Simkhai of Kanton Diamonds, located in New York City, said that American businesses are taking memo rather than purchasing any inventory. “You can’t complain what...
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Polished Markets
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Jan 01, 2011
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Denise Romano
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Gemstones
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Dec 03, 2010
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Denise Romano
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Holiday Shopping MADNESS
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Savvy shoppers were out in full force over the Thanksgiving Day weekend. According to the America’s Research Group (ARG)/UBS shopping survey conducted over the weekend, the number of Black Friday–only shoppers was the highest in 11 years, with 40.2 percent of shoppers hitting the stores on that...
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Retail
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Dec 01, 2010
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Denise Romano
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Anticipating a Happy New Year
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After a preholiday season of better-than-expected sales, the U.S. diamond industry is looking forward to a happy new year. “Festive season” sales so far in 2010 are almost double what they were last year, said Oren Sofer, of Beny Sofer Inc. in New York City. “We have to forget about...
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Polished Markets
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Dec 01, 2010
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Denise Romano
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AGA Announces Award Winner
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The Accredited Gemologists Association (AGA) announced that Stuart Robinson was awarded the 2011 Antonio C. Bonanno Award for Excellence in Gemology. He will receive the accolade at the conclusion of the group's Tucson, Arizona, conference on February 2. Robinson is one of the world’s leading researchers and gemstone pricing...
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Gemstones
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Nov 17, 2010
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Denise Romano
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Stellar Diamonds Commences Drilling in Guinea
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Stellar Diamonds began drilling at the Droujba kimberlite pipe in Guinea. The pipe was discovered in the 1960s by the Russian Aid Mission. Recent geophysical surveys suggested that the pipe is larger than previously thought. Although there is no exact information about diamond quality, one 270-carat stone...
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Mining
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Nov 17, 2010
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Denise Romano
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Yang Joins GIA's Board of Governors
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The Gemological Institute of America (GIA) appointed Thomas Yang to its board of governors. His tenure began at the November 14, 2010, board meeting. Yang is senior vice president and president of the international division at Callaway Golf Co. and his background includes international development working for...
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Financial-Legal
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Nov 16, 2010
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Denise Romano
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ABN Amro Places Polar Ice in Receivership
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Update: Since this story first appeared, a representative from RSM Richter confirmed with Rapaport News that Polar Ice Diamonds was no longer an operating company and that the diamond firm would most likely...
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Financial-Legal
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Nov 15, 2010
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Denise Romano
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Helzberg to Feature Judith Ripka Bridal Collection
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Helzberg Diamonds plans to expand their designer bridal collection and will start with an exclusive new line from Judith Ripka this weekend. The collection will feature engagement rings, wedding rings and fashion diamond jewelry designed with Ripka’s signature trademark heart motif. It will...
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Retail
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Nov 10, 2010
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Denise Romano
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D.E.F. Raises $1M at London Event
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The Diamond Empowerment Fund (D.E.F.) raised more than $1 million in London during their Diamonds in the Sky fundraising event yesterday evening. This was D.E.F.’s first charity event outside of the U.S. and exceeded early projections of raising $500,000. D.E.F. was founded in December 2007 by Russell...
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Marketing
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Nov 09, 2010
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Denise Romano
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IGI Calls Panama Engagement a Success
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The International Gemological Institute (IGI) and the Panama Diamond Exchange (PDE) concluded a week of activity in Panama City. IGI offered jewelers in the bourse an in-depth education session on diamond grading and explained the importance of independent grading reports. Following educational outreach, IGI operated an onsite lab...
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Manufacturing
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Nov 09, 2010
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Denise Romano
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Jewelers List Specials on Coupons Website
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A number of jewelry brands were listing special savings for shoppers at coupons.com to promote their brand leading up to the Christmas season. Coupons.com was offering 197 printable coupons for the jewelry and watches category this afternoon including diamond jewelry discounts from Ashford, ice.com, diamond.com, bidz.com,...
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Retail
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Nov 08, 2010
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Denise Romano
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Diamond Exchange of Singapore Elects New President
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The Diamond Exchange of Singapore (DES) elected Suresh Hathiramani as its new president for a two-year term, the World Federation of Diamond Bourses (WFDB) reported. Outgoing DES president Yee Heng Chiong was appointed to vice president; Lim Kam Su was elected honorary secretary; Reuben Khafi became...
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Financial-Legal
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Nov 03, 2010
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Denise Romano
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Survival Int'l Renews Calls to Boycott Botswana Diamonds
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Human rights group Survival International will call for a boycott of Botswana tourism and diamonds tomorrow at De Beers flagship stores in London and San Francisco. The organization, which has previusly protested De Beers claiming that the mining giant indirectly displaced Bushmen from the Kalahari in order...
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Mining
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Nov 02, 2010
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Denise Romano
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Designers at Centrepiece Plan Jewelry Sale for Birmingham
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Birmingham Jewelry Quarter designers will open a public sale of their goods and offer commission services too at the Birmingham Symphony Hall, U.K. from November 11 through December 23. The Birmingham Assay Office is one of the supporters of this "Centrepiece" Christmas jewelry sale, which will host...
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Retail
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Oct 20, 2010
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Denise Romano
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