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Sotheby’s Auction Revenue This Year Forecast to Stay Below 2014 Record
Sotheby’s worldwide jewelry auction sales in 2015 willlikely miss its record reached last year, according to the luxury seller’sestimates.While auction revenues hit $506.5 million since the start ofthis year, the luxury seller...
Retail Nov 30, 2015 Rapaport News
NRF - Black Friday
Black-Friday Weekend Online Customers Exceed In-Store Buyers: National Retail Federation
The number of shoppers online during the Black-Fridayweekend exceeded those buying in bricks-and-mortar stores, reflecting a “newtradition” of internet-based purchasing during the key retail period, the National RetailFederation (NRF) said.Some 103 million people in the...
Retail Nov 30, 2015 Rapaport News
Pope Francis
Pope Warns Africa’s Illegal Diamond Trade Abets Crime, Terrorism
PopeFrancishas warned Africa’s illegal trade in diamonds and other precious resources abetscriminal activities and terrorism while undermining political stability.“Human selfishness” and the abuse of the poor and excludedrisked tearing Africa into pieces,...
Fair Trade Nov 30, 2015 Rapaport News
Stellar Diamonds
Stellar Diamonds Applies for License to Mine at Tongo Project
Stellar Diamonds has applied forlicense to carry out large-scale mining at the Tongo project in Sierra Leone,the West Africa-focused diamond exploration group said.Stellar, based in the UK and listed on London’s AlternativeInvestment Market, has submitted the...
Rough Markets Nov 30, 2015 Rapaport News
Xmas Cracker
Luxury Diamond Christmas Crackers Top $370,000
Christmas revelers will be able to celebrate the holiday this year with a new kind of Christmas cracker – containing diamonds and costing as much as $371,315 (GBP 247,000).Six white diamonds selected by U.K. jeweler Tresor Paris,each with...
Retail Nov 29, 2015 Rapaport News
US Flag
U.S. Oct. Jewelry & Watch Sales +2% to $5.3B
U.S. jewelryand watch sales from all retail outlets increased 2 percent year on year to anestimated $5.29 billion in October, according to provisional governmentfigures.The sector’stotal for previous months was revised, as is often the case, resulting in therate...
Retail Nov 29, 2015 Rapaport News
GJEPC and BDB Set Detecting Synthetics Seminar
India’s Gem & Jewellery Export Promotion Council (GJEPC) and the BharatDiamond Bourse (BDB) are teaming to share how to use new technology to detectsynthetics.The Diamond Detection Expo and Symposium, December 15 and 16 in Mumbai,will display...
Polished Markets Nov 29, 2015 Rapaport News
Alrosa rough
ALROSA Mulls Production Cut in 2016
ALROSA may reduce production in 2016 as its rough diamond inventory is at a critical level in a weak market. “Currently,our inventory stands in excess of 20 million carats and increasing inventoryfurther would not be feasible for the company, or it would be difficulteconomically,”...
Rough Markets Nov 29, 2015 Rapaport News
NRF - Black Friday
In-Store Black Friday Sales Decline But Online Improves
In-store sales on Thanksgiving and Black Friday slipped from last year, but online and mobile sales surged, according to initial data following the annual U.S. retail bonanza.Sales across the two days fell...
Retail Nov 29, 2015 Rapaport News
Petra Diamonds pink
Petra Finds 23-Carat Pink Diamond in Tanzania
PetraDiamonds has recovered a 23.16-carat pink diamond of “exceptional color andclarity” from the Williamson mine in Tanzania.The gem isthe most significant recovery by Petra from Williamson to date and an exampleof the high-quality pink diamonds for...
Mining Nov 29, 2015 Rapaport News
Rapaport TradeWire November 26, 2015
RAPAPORT NEWS SERVICE | November 26, 2015 &nb...
Research Nov 26, 2015 Rapaport
India Arch
Rapaport Weekly Indian Market Report
Trading slowly returning to normal after Diwali with manufacturers expected to return next week. SI-I2 demand strong for U.S. market with some improvement in VS diamonds. Suppliers holding firm prices for confirmed orders but...
Research Nov 26, 2015 Rapaport News
luk fook
Luk Fook’s H1 Revenue -8%, Profit -43% Amid Hong Kong Tourist Slowdown
Luk Fook Holdings International Limited reported revenuedeclined 7.7 percent to $898.6 million (HKD 5.4 billion) in the six months toSeptember 30 as a result of the Chinese downturn and a weak Hong Kong tourismindustry.Slowing growth in mainland China,...
Retail Nov 26, 2015 Rapaport News
Rapaport Weekly Market Comment
Rapaport calls for resignation of De Beers CEO and 30-50% rough price cut to inject liquidity and profits into diamond trade. De Beers stops buying and paying Botswana for rough, 2H15 De Beers rough sales expected to plummet at least 60%, possibly 70% Y/Y. (See Rough Bubble...
Research Nov 26, 2015
NRF - Black Friday
Early Black Friday Figures Not Reliable Indicator of Actual Sales
Early Black Friday figures claiming to signal how well the holiday period is progressing should be ignored as initial numbers fail to accurately predict the actual sales, according to FiveThirtyEight.com.First round of news stories on Thursday evening or Friday...
Retail Nov 26, 2015 Rapaport News
Botswana Flag
How Botswana Will Find Independence
Fifty years on from independence, Botswana still finds itself in desperate need of improvements in its economic diversity. Its unsustainable reliance on diamonds is the reason why.That much was evident at an industry conference held this past week...
Research Nov 26, 2015 Avi Krawitz
Industry Stock Ticker Stock Image
Rapaport Diamond Industry Stock Tracker
Mining stocks wereled by a surge by Lucara Diamond Corp. (+28%) following its discovery of thesecond largest diamond in history. Dominion Diamond Corporation fell 9% ondisappointing third-quarter results. North American retailers Birks Group(+27%) and Tiffany (+9%)...
Financial-Legal Nov 26, 2015 Rapaport News
Graff Diamonds prohibition ring
Graff Debuts Ring Collection Inspired by ‘Thrill’ of Prohibition-Era Parties
Graff Diamonds has introduced a ring designinspired by America’s flamboyance in the 1920s and the excitement of alcohol-ladensecret parties of the prohibition era in the U.S.Rings inthe new collection feature a dome consisting of layers of diamonds in a swirl,with an elevated...
Retail Nov 26, 2015 Rapaport News
Majority of Diamonds in GIA Hacking Case Still Not Returned
Only 175 of the 1,042 diamonds whose Gemological Institute of America (GIA) reports were invalidated last month following a hacking incident have been returned for examination, the organization said.“It is imperative that all of the...
Polished Markets Nov 26, 2015 Rapaport News
Paragon Diamonds
Paragon’s Nominated Adviser Quits as London Shares Remain Suspended
Paragon Diamonds, listed on London’s Alternative Investment Market, announced its nominated adviser and broker resigned with immediate effect following the suspension of trading in the miner’s shares earlier this month. Northland Capital Partners...
Mining Nov 26, 2015 Rapaport News
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