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The diamond industry, from mine to retail, is facing new challenges that are rocking it to its core. Retail stores around the world are closed and that reverberated up the diamond pipeline, bringing wholesaling activity, jewelry manufacturing, diamond polishing, and diamond mining to a complete standstill.
De Beers CEO Bruce Cleaver has called on the trade to allow rough purchases, assuring manufacturers the company won’t require them to buy in the weak market.
If one recent auction is any indication, the desire for luxury jewelry items is alive and well.
As the diamond market considers its options during the industry-wide lockdown, manufacturers in India are planning a freeze on rough imports. The move has precedent. Back in 2008, as financial markets collapsed, India imposed a one-month moratorium on rough buying. Ultimately, it helped the local trade realign inventory and gain market share while other manufacturing […]
Sotheby’s has released a new schedule of jewelry auctions for the next few months, including dates for when it will restart live, in-person sales.
Press release – Our industry has lost, far too soon, one of its most treasured gems. Didier Giard was an individual who managed to exemplify the very best of what we in the gem and jewelry community seek to find within ourselves
What do you do when you have $180 million in diamonds and can’t sell them?
Here and elsewhere, whether we are still in lockdown or starting to lift it, we are approaching the time we have at our disposal in a different manner. It is not that we have more of it; far from it. But it has been reinvented. For my part, I want more and more quality, authenticity, […]
Interview with Stephen Lussier and David Prager. The diamond industry will need to tweak its messaging to emphasize the values its product and brands represent, De Beers executives stressed in the Rapaport Diamond Podcast.
Christie’s sold over $1.3m of jewelry at its latest online auction, with no sign of bidding being dampened by coronavirus.
A number of diamond-mining companies that have halted production during the COVID-19 crisis will find it difficult to resume operations amid their struggles with debt, analysts have predicted.
De Beers has reduced its full-year production guidance by 7 million carats, putting the miner on course for its lowest output since 2009.
