Diskusní fórum o sběratelství

Sbě » Minerály » Týždenný prehľad zaujímavostí vo svete diamantov .

Týždenný prehľad zaujímavostí vo svete diamantov .

Moderátoři: Koniáš.

Nové téma Další příspěvek

Stránka: « < ... 7 8 9 10 11 12 13 14 15 ... > »

Autor Příspěvek
Registrovaný uživatel
Rapaport Weekly Market Comment Oct. 4, 2013

Diamond trading slow with cautious demand for better qualities. IF-VVS weak. Strong price-point demand for commercial SI-I1 qualities. RapNet 1ct. Index (RAPI) flat in Sept. Rough prices under pressure. De Beers drops some prices but boxes still trading at discounts. Indian cutters reducing production by 30-50% as trade organizations discourage purchases of high priced rough. India’s pre-Diwali market demand very weak. Encouraging start to China’s Golden Week with steady gold jewelry demand. ALROSA to list 16% shares in Moscow. India’s Aug. polished exports +36% to $1.9B, rough imports +33% to $682M. Japan’s Aug. polished imports -3% to $65M.

RapNet Data: Oct. 3

Diamonds 1,069,618
Value $6,978,154,942
Carats 1,190,108
Average Discount -28.08%
Get Current Price List | Subscribe to Rapaport | Join RapNet


Rapaport Single Stone Auction

New York & Israel

View details.

Rapaport Melee Auction

New York & Dubai
The U.S. economy continues to expand, albeit at an unspectacular pace. In order for consumers to turn out this Christmas season, we need to see steady improvements in income and job growth, as well as an agreement from Washington that puts the economic recovery first. Our forecast leaves room for improvement, while at the same time provides a very realistic look at the state of the U.S. consumer and their confidence in our economy.

Jack Kleinhenz | National Retail Federation


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


Polished Prices Stable

Certified polished diamond prices were stable in September with significantly reduced trading volume. Price sensitive Far East buyers shifted to commercial-qualities, while tight liquidity and weak domestic demand reduced trading in India. High rough diamond prices have disrupted manufacturing activity as polished suppliers focus on depleting existing high levels of inventory.

The RapNet Diamond Index (RAPI™) for 1-carat certified diamonds fell 0.3% in September from August but RAPI for 0.30-carat diamonds rose 0.4%, while 0.50-carat and 3-carat diamonds were both flat. RAPI for 0.30-carat is up 6.4% year on year, but RAPI for 0.50-carat is down 3.8%, 1-carat is lower by 5.5% and 3-carat is off by 3.9%.

Other trends in the month demonstrated steady yet selective trade from the Hong Kong show with a focus on 0.30-carat to 0.50-carat, H and lower, VS-SI goods; tighter bank lending; India’s foreign currency becomes a crisis; rough trading on the secondary market turns quiet and De Beers reduced prices on Indian boxes and raised prices on goods that yield polished in the popular 0.30-carat to 0.50-carat sizes.

Manufacturers to Hold Back Production

India’s influential diamond manufacturing sector pledged to maintain production at levels up to 50% lower than what is typical for the fourth quarter in an attempt to manage the liquidity crisis plaguing the industry. The Gems & Jewellery Export Promotion Council (GJEPC) said manufacturers have already reduced their factory output in the past few months due to the lack of profitability resulting from high rough prices, volatility in the rupee and a slowdown in demand. Banks have limited financing options, too, which is having a severe impact on the diamond business.

The GJEPC met with prominent medium- and large-scale diamond manufacturers to address challenges faced by the cutting and polishing sector. Manufacturers indicated that voluntary reduction in production might continue, and even intensify in 2014, if they do not see a return to sustained profitability in the polishing of rough diamonds. Manufacturers reported a lack of profitability in rough that become polished diamonds in sizes below 0.30 carats.


NRF Predicts a Fair Season for Jewelry

The National Retail Federation (NRF) expects U.S. retail sales, excluding automobiles, in the months of November and December to increase 3.9% year on year to $602.1 billion. Growth during the 2012 Christmas season was 3.5% and the 10-year average rate of growth is 3.3%. In terms of popular gift items, electronics lead the way. The NRF observed ''no discernible trends'' for the jewelry category at this preliminary stage, however, it anticipates jewelry sales to be at least on par with 2012 if not a little better. During the most recent spending intentions survey, the NRF found that of those shoppers who expected to make major purchases this month, 5% chose jewelry and/or a watch, which is average.

Variables affecting consumer behavior for Christmas season depend mostly upon a robust housing marketing, job security and wage growth, but also an increase in consumer appetite for larger-ticket items. Given that the U.S. government shutdown just began this week, the NRF's flash survey of consumers on October 1 determined about three-quarters of shoppers felt no impact from the closure and do not plan to alter their Christmas-shopping plans. NRF's division estimated that online retail sales will grow 13% to 15% for the season. Savvy, cost-conscious consumers are using the Internet for research and ''bang for their buck,'' according to the trade group.

The International Council of Shopping Centers (ICSC) anticipates Christmas-retail growth of 3.4%, ShopperTrak predicts growth of 2.4%, AlixPartners forecasts increases of 4.1% to 4.9% and Deloitte expects a 4% to 4.5% sales improvement, but it also includes the month of January.

Affluents Intend to Spend More

American Express Publishing and Harrison Group revealed that 25% of U.S. affluent consumers intend to purchase jewelry as a Christmas gift this year. The percentage was on par with the past two years. The survey of wealthy households that earn at least $100,000 annually concluded that overall holiday spending would increase about 8% year on year, citing improved sentiment across the lower-end of the affluent class.

Neimans Reports a Profit

Neiman Marcus Group LTD Inc., formerly referred to as Neiman Marcus Inc., reported that its revenue rose 11.3% year on year to $1.119 billion for the fourth fiscal quarter that ended on August 3. Comparable-store sales rose 5.4% and earnings jumped to $2.88 million compared with a loss of $11.1 million. Merchandise inventory grew 8.4% to $1.019 billion.

On September 9, Neiman Marcus announced that it would merge with NM Mariposa Holdings Inc. and Mariposa Merger Sub. LLC, both of which are owned by an group consisting of investment funds affiliated with Ares Management LLC and Canada Pension Plan Investment Board. The agreement included a purchase price of $6 billion, a portion of which will be used at the closing to repay all amounts outstanding under the retailer's existing senior secured credit facilities.

Amazon Remains Most Favorite

NRF's revealed the ''favorite 50'' online U.S. retailers of 2013. A majority of consumers again chose as their favorite shopping destination for a seventh consecutive year, followed by and, all three of which maintained their top spots on this year's list. Of those websites in the favorite 50 that sell fine jewelry, consumers chose (No. 4) and (No. 6) both of which moved ahead one spot from 2012, but JCPenney fell one place to No. 7, while Macy's (No. 8) and Sears (No. 9) maintained their rank. improved its favorite 50 position by one space to No. 17, while fell eight places to No. 21 and rose to No. 22 from No. 26 in 2012. slipped one spot to No. 23, moved up by one to No. 24, slipped six places to No. 35 and fell back just one spot to No. 36. improved its standing five points to No. 38 and debuted on the favorite 50 list at No. 39. fell eight places this year to No. 40, slipped four places to No. 41, (Walmart) debuted at No. 47 and fell six places to No. 48, according to Stores.

Mobile Browsing Outpaces Desktops

The 2013 Social & Mobile Commerce Report, produced by comScore Inc., The Partnering Group and, revealed that 55% of ''retail related Internet time'' spent by consumers was through tablets and smartphones compared with 45% interacting with a desktop. Smartphone Internet usage alone has surged to 44% of total retail minutes online compared with only 17% in June 2010. The data was shared during's annual summit in Chicago this week and was meant to alert retailers to this important trend ahead of the all-important Christmas sales season.

Mobile has been elevated above any ancillary device or action since it now epitomizes how consumers think and act when they interact with retailers, said's executive director, Vicki Cantrell. ''Retailers have to continue to invest to make sure they get their mobile offerings right, or will increasingly risk alienating customers and leaving significant money on the table.''

Sotheby's Previews Hong Kong Sale

WATCH NOW: Quek Chin Yeow, the chairman of Asia for Sotheby's, discusses ''the greatest white diamond ever to be offered at auction,'' a 118.28-carat, D, flawless, type IIa, oval-shaped stone that will be featured during its Hong Kong sale of magnificent jewels on October 7. Another top lot includes an exceptionally rare blue stone ''The Premier Blue,'' a 7.59-carat, IF, fancy vivid blue diamond.

China's Evolving Diamond Demand

WATCH NOW: Kent Wong Siu-Kee, the managing director of Chow Tai Fook Jewellery Group, discusses emerging trends, fashion jewelry, diamond jewelry and how demand is changing in the emerging consumer market of China. Wong was the keynote speaker for the annual Rapaport International Diamond Conference in Mumbai.

Factors Influencing India's Growth

WATCH NOW: Dr. Suresh Surana, the founder of RSM Astute Consulting Pvt. Ltd., provides an outline of the external factors that are influencing India's economy. Surana discusses the significant weakening of the country's economic growth outlook, the current account deficit and high interest rates during his presentation at the annual Rapaport International Diamond Conference in Mumbai. He also provides an update on significant regulatory issues that are affecting the gem and jewelry industry.


Zale to Sell 11M Shares

Zale Corporation registered an offering of almost 11.1 million shares on behalf of private equity firm Golden Gate Capital to sell some or its entire stake in the jeweler. Zale secured a $150 million loan from Golden Gate Capital in 2010 as it faced a liquidity emergency and the deal also enabled the lender to exercise warrants which cover more than 11 million shares. The move sent Zale's shares lower, however, they are trading about 110% higher year on year.

Loeb Seeks to Oust Ruprecht

Daniel Loeb, the CEO of Third Point LLC, blasted Sotheby's chairman and CEO, William Ruprecht (pictured), charging lack of leadership, operational alignment and strategic direction, among many other things, and called for his immediate dismissal.

Third Point became Sotheby's top shareholder in September and Loeb expects a seat on the board where his top priority will be to hire a new CEO and keep that role separate from the board's chairman, according to his letter. Sotheby’s issued a brief statement saying it would not debate incendiary and baseless charges while its focus must be on serving clients during this critical fourth quarter sales cycle and added it would comment on Third Point at an appropriate time.

Birks Changes Name

Birks & Mayors Inc. changed its corporate name to Birks Group Inc. and its ticker symbol became ''BGI'' on the New York Stock Exchange (NYSE MKT). Companies forming part of the Birks Group include the retail brands of “Maison Birks” in Canada, “Brinkhaus” in Vancouver, British Columbia and Calgary, Alberta and “Mayors” in Florida and Georgia. Signage reflecting the new trade name will be changed at current retail stores over time, while signage at new stores already reflects this change.

GIA, Lazare Kaplan Reach a Deal

Lazare Kaplan International and the Gemological Institute of America (GIA) entered into a settlement and a license agreement for which GIA made a one-time payment of $15 million to the manufacturer. In addition, both parties agreed to release each other from all actions, causes of action and infringement claims asserted in or arising out of the litigation in Lazare Kaplan versus Photoscribe Technologies Inc.

Under the terms of the settlement, GIA dismissed with prejudice their respective claims asserted in the litigation and Lazare Kaplan granted a license to practice certain patents and GIA agreed to pay the company a per inscription royalty until July 31, 2016. Lazare Kaplan and Photoscribe continue to be parties to the litigation, which is pending before the District Court for the Southern District of New York.

NY Hosts Israel Diamond Week

The New York Diamond Dealers Club's (DDC) will host a second Israel Diamond Week in Manhattan. It is expected that the DDC will entertain more than 100 Israel diamond companies from the Israel Diamond Exchange (IDE) on the trading floor from November 11 to 14. This trade event follows the successful program that was convened at the DDC in December 2012 and which initiated follow-up U.S./International Diamond Weeks in Israel in March and August of this year.


ALROSA to List 16% of Shares

ALROSA will list 16% of its shares on the Moscow Stock Exchange as it prepares to officially start marketing to investors. The Russian Federation and Yakutia Republic will offer 7% each. In addition, Wargon Holdings, which is controlled by ALROSA, will offer 2% to help ALROSA repay existing debt. Analysts expect the listing to raise about $1 billion, pricing the shares at about $1 each and valuing the company at approximately $7 billion. The shares will trade on CJSC MICEX Stock Exchange, which is a subsidiary of the Moscow exchange, under the ticker symbol “ALRS.”

As expected, ALROSA sold its gas assets for $1.38 billion to Rosneft Oil Company. The proceeds will be used to repay ALROSA's outstanding debt. ALROSA’s gas assets included companies in the Yamalo-Nenets Autonomous District and the Republic of Sakha. The resource exceeds 200 billion cubic meters of natural gas and 40 million tons of liquid hydrocarbons. The deal is subject to required corporate and regulatory approvals.

Rockwell's Production +46%

Rockwell Diamonds reported that diamond production grew 46% year on year to 7,046 carats in the second quarter that ended on August 31. The company attributed the higher production to a stronger focus on its Middle Orange River operations as well as to its royalty mining contract strategy at the Tirisano mine. The value of total diamond sales increased 25% year on year to $8.5 million and the average price increased 14% to $1,512 per carat.

Diamcor Recovers a Large Stone

Diamcor recovered an octahedron, 91.65-carat gem-quality diamond at the Krone-Endora, Venetia project. This is the first gem quality diamond over 10.8 carats recovered at the project. The company is assessing the diamond's color and quality through an independent expert. Diamcor acquired the Krone-Endora at Venetia project from De Beers Consolidated Mines in February 2011.

Gem Recovers Two Special Diamonds

Gem Diamonds recovered a rare blue, 12.47-carat diamond and an 83.80-carat exceptional-quality white diamond from its Letšeng mine in Lesotho in September. The blue diamond was recovered from the main pipe, while the larger diamond was recovered at the satellite pipe. Both diamonds will be sold at Letšeng's upcoming tenders in Antwerp.

Diavik Appoints Cameron

Marc Cameron was appointed the president of Diavik Diamond Mines Inc. Cameron is a professional engineer who has been with Diavik since production commenced in 2003 and he has held several senior level roles within the company, most recently as vice president of operations. Cameron and his family reside in Yellowknife, Northwest Territories, Canada.


Diamond Industry Stock Report

Largely a difficult week for U.S. retailers with only Kohl's (+3%), Macy's (+4%), Nordstrom (+2%) and Signet (+2%) showing small gains. European and Indian shares were mixed but LVMH (+6%) bounced back and Rajesh (+2%) and Ren. Jewellery (-7%) defined the gain/loss spread. Miners were mainly positive but Anglo (-7%) led the downside. View the extended stock report.

Oct. 3 Sept. 25 @ NY Noon Chng.
$1 = Euro 0.734 0.739 -0.005
$1 = Rupee 61.97 62.70 -0.7
$1 = Israel Shekel 3.55 3.55 0.00
$1 = Rand 10.03 9.95 0.08
$1 = Canadian Dollar 1.03 1.03 0.00

Precious Metals
Gold $1,316.80 $1,335.10 -$18.30
Platinum $1,370.00 $1,423.00 -$53.00

Stock Indexes Chng.
BSE 19,902.07 19,856.24 45.83 0.2%
Dow Jones 14,996.48 15,308.78 -312.30 -2.0%
FTSE 6,449.04 6,551.53 -102.49 -1.6%
Hang Seng 23,214.40 23,209.63 4.77 0.0%
S&P 500 1,678.66 1,696.42 -17.76 -1.0%
Yahoo! Jewelry 1,198.95 1,206.12 -7.17 -0.6%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Oct. 11, 2013

Polished prices soft due to weak demand and tight market liquidity. Pre-Diwali sentiment soft with Indian retail buyers transitioning from cash to memo purchases. Rapaport Melee Index -6% in 3Q. Rough prices unsustainable. De Beers under pressure as frustrated sightholders refuse 15% of estimated $570M Oct. sight with depressed secondary market. U.S. consumer confidence drops during government shutdown. Sotheby’s HK sells $95.5M (75% by lot) with oval, 118.28ct., D, FL diamond sold for $30.1M ($254K/ct.). Israel’s 3Q polished exports +44% to $1.4B, rough imports +30% to $856M. Shmuel Schnitzer elected president of Israel Diamond Exchange. Susan M. Jacques appointed CEO of GIA.

RapNet Data: Oct. 10

Diamonds 1,084,985
Value $7,004,597,513
Carats 1,204,265
Average Discount -27.75%
Get Current Price List | Subscribe to Rapaport | Join RapNet
Rapaport Melee Auction

New York & Dubai

Rapaport Single Stone Auction

New York & Israel

View details.
To be successful, retailers must be able to satisfy consumers who, more than ever, want to shop on their terms and expect every step in the journey to be a seamless one, whether they are online, shopping in a store or using their phones. The list of consumer expectations of how they should be able to shop – from finding the same prices and promotions in a store as they do online to buying online and returning to a store – is getting longer every day. Increasingly, holiday-season winners will be defined by their ability to deliver a seamless experience to the consumer.

Chris Donnelly | Accenture

The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.

Refusals Mount at De Beers Sight

De Beers October sight carried and estimated value of $570 million before refusals, which were estimated at 15% as buyers grew frustrated over lack of market liquidity and profit margins. De Beers decreased prices by mid- to high-single-digit percentages on the Indian rejection goods but changed the assortments in some of the boxes, which effectively increased their value.

The company raised prices on some boxes, most notably in the 4 grainers to 8 grainers by low- to mid-single-digit percentages, with some adjustments made to the assortments. Comments from sightholders indicated that shifting prices and assortments do not make sense right now, and any reduction on smaller goods was not enough to overcome manufacturing losses.

Nonetheless, De Beers anticipates market improvement as the festive seasons of Diwali and Christmas get underway, followed by the Chinese New Year. Sightholders rejected about 20% of goods at the previous two De Beers sights with trading on the secondary market remaining quiet throughout the third quarter. Dealer demand in the week following the October sight has remained cautious.

The next sight will take place in Gaborone on November 11 to 14.

Melee Index Drops 6%

The Rapaport Melee Index (RMI™) for small diamonds decreased by 6% to 125.99 during the third quarter of 2013. The index is relatively flat compared with one year ago, when the September 2012 reading was 126.33. Overall, melee diamond prices continued to decline due to caution in India and China and despite anticipation that trading would strengthen ahead of the fourth quarter.

Trading among Indian dealers in the third quarter was subdued as they continue to deal with the volatile rupee and a cautious domestic retail environment. Rapaport Diamond Auctions sold over 78,000 carats of diamonds for $16.7 million during the third quarter of 2013.

Upcoming Rapaport Auctions:
• October 3 to 9 in New York and Israel
• October 8 to 17 in New York and Dubai
• October 22 to 30 in New York and Israel
• November 12 to 20 in New York and Israel
• November 19 to 28 in New York and Hong Kong

U.S. Chain-Store Sales +4%

U.S. chain-store sales in September rose 4% year on year, according to the International Council of Shopping Centers (ICSC), led by strong drugstore sales (up 6%) and weakened by apparel (up 0.1%). For October, ICSC research anticipates that comparable-store sales will increase between 3% and 4%; however, the federal government shutdown does have the potential to curb spending.

Sotheby's HK Sale Achieves $95M

Sotheby's Hong Kong sale of magnificent jewels achieved $95,473,557 (HKD 744,693,750) and was 75% sold by lot. The top lot (pictured) was a 118.28-carat, D flawless, type IIa oval-shaped diamond that sold for $30.06 million or $254,000 per carat. Sotheby's stated that the diamond achieved a record price and the sale total also set a record for a jewelry sale in Asia.

The second highlight of the sale, "The Premier Blue,'' a 7.59-carat, IF, flawless, fancy vivid blue diamond surrounded by brilliant-cut pink diamonds of 1.70 total carat weight, failed to find a buyer at the auction. Other top lots that did sell in Hong Kong included a set of two jadeite bead necklaces, which sold for $5.4 million and an unmounted, brilliant-cut 20.05-carat, D, flawless diamond, which sold for $4 million.

Swiss Watch Exports Flat

Swiss Watch exports remained flat year on year in August at $1.632 billion (CHF 1.486 billion), according to the Federation of the Swiss ‎Watch Industry.‎ The Federation noted that a reduction in shipments to China combined with one less business day during the month impacted the total number of timepieces exported. Exports of wristwatches remained flat at $1.536 billion during the ‎month, while the number of units shipped grew by 1% to 2.2 million. The value of other products rose by 9% to $96 million.

Politics Erode Consumer Confidence

The Gallup organization released its first weekly consumer confidence report since the federal government shutdown began and noted the largest weekly drop in sentiment since the Lehman Brothers collapsed in September 2008. U.S. consumer confidence from Gallup's Economic Confidence Index tumbled 12 points to negative 34 this past week, the second-largest weekly decline since Gallup began tracking economic confidence daily in January 2008. The organization cited ''fiscal brinkmanship in Washington D.C.'' as the culprit for eroding economic confidence this month as well as in previous political squabbles inside the Capital Beltway.

Nurture Loyal Customers to Spread the Word

Loyal customers who champion a brand or product are key drivers to building new relationships and market reach, according to the 2013 Social Word-of-Mouth Study by Colloquy. Given the cluttered world of competing messaging, hashtags and tweets, it is more important now for retailers to nurture their followers in a very personal way to help spread the brand's messages.

Colloquy's report recommended that marketers identify their word-of-mouth champions first, since the loyalty program segment is usually delighted to help spread the word; use social and mobile methods as tool to ensure brand content is delivered in the format that best suits consumers' behavior and preferences and, lastly, build engagement with customer segments based upon customer touch points not the latest social platform.

Gift Spending Expectations Improve

Accenture's annual Christmas-shopping intention survey revealed that the average U.S. consumer who plans to buy gifts is expecting to spend about $646 this year, representing an 11% increase from one year ago. But the consultancy firm also found that 94% of shoppers will be hunting for ''sizable discounts'' from retailers. Additionally, the survey noted a strong appeal for Black Friday shopping, the highest in five years, coupled now with the ability to shop on Thanksgiving Day, which retailers only recently embraced to boost sagging sales.

Accenture concluded that consumers also expect a seamless approach to shopping between in-store, online and mobile channels. Sixty-three percent of shoppers expect to practice ''showrooming,'' where they visit a store but check online for a better price and make the purchase. However, a similarly high proportion of shoppers (65%) also plan to participate in “webrooming,” or browsing online and then going to a store to make their purchase, according to Accenture.

Sterne Agee Upgrades Tiffany & Co.

Sterne Agee analyst Ike Boruchow upgraded shares in Tiffany & Co. to ''Buy'' from ''Neutral'' with a target price of $86, citing a highly visible margin recapture opportunity in the upcoming 18 to 24 months, a rapidly growing international platform, which now accounts for about half the retailer's sales, and a U.S. business segment that has made a number of key executive hires and implemented new product initiatives.

In a note to clients, Boruchow described ''impressive hires'' Anthony Ledru, head of the North American retail business, and Francesca Amfitheatrof, design director, as strong enough additions to the team that Tiffany & Co. can expect to revive its lagging U.S. business. The analyst wrote that Tiffany & Co.'s margins carry the potential for up to a 400-basis-point improvement within 24 months due to lower raw materials costs, in store price increases, recovery in the silver business and improved sales trends.

Christie's Highlights 'The Orange'

Christie's Geneva will present ''The Orange,'' a rare pear-shaped, 14.82-carat, VS1, type IIa, vivid orange diamond at its magnificent jewels sale on November 12. The diamond has a presale estimate of $17 million to $20 million. The Gemological institute of America (GIA) noted that strongly colored diamonds in the orange hue range seldom exceed three or four carats once they are polished.

Sotheby's to Offer Walska Briolette Brooch

Sotheby’s Geneva will offer the “Walska Briolette Diamond Brooch,” created by Van Cleef & Arpels in 1971, during its magnificent jewels sale on November 13. This masterpiece design highlights the historic “Walska Briolette Diamond” that weighs 96.62 carats and was graded as a fancy vivid yellow, and it is priced to sell at $8 million. This special stone was once in the collection of opera singer and jewelry connoisseur Ganna Walska, but the briolette diamond was subsequently mounted as a brooch and most recently exhibited at Van Cleef & Arpels retrospectives.

The Gemological Institute of America (GIA) described the briolette as a natural, fancy vivid yellow diamond and assigned a VS2 clarity grade. The 96.62-carat diamond, suspended from the bird’s beak, can be detached and worn as a pendant, while the bird’s wings also detach to form a pair of earrings and the tail can be transformed into a brooch.

Rodeo Drive Hosts Watch Festival

The Rodeo Drive Committee and the City of Beverly Hills organized the Rodeo Drive Festival of Watches for October 10 to 13 to celebrate luxury watch brands with a street-wide open house and daily exhibits and parties. Twenty boutiques will feature product launches, exclusive watchmaker appearances, exhibition debuts and luxurious hospitality for their guests. In time for the festival, Breguet reopened its doors after extensive interior renovations, entertaining guests with a cocktail reception and a ribbon cutting ceremony.

Forevermark Stars in Christmas Book

Neiman Marcus unveiled its annual Christmas Book with a top gift from Forevermark, titled ''Roughing It,'' featuring an 11-day adventure from the U.S. to London and Namibia, a 25-carat rough Forevermark diamond that will be cut and polished by De Beers and then set in a custom design. The purchaser will even have dinner with De Beers CEO, Philippe Mellier, and Forevermark's CEO Stephen Lussier in the Tower of London, and visit rough-diamond sorting houses and a children's community project in Africa. The Forevermark Ultimate Diamond Experience sells for $1.85 million.

Graff Reinvents Hair & Jewel Ad

Graff Diamonds debuted its ''Half Billion Dollar Hair & Jewel'' advertisement, which was a take-off from its famous 1970, ''$1 Million Jeweled Hair'' campaign that launched the brand globally. Graff's model highlights $500 million worth of rare and valuable diamonds in her carefully coiffed hair, specifically sculpted to accentuate each jewel. The advertisement also celebrates Laurence Graff's sixtieth year in the business and the opening of his fortieth store, according to the jeweler's website.

Brauner Discusses Synthetic Issues

WATCH NOW: In his second consecutive year speaking at the Rapaport International Diamond Conference, Mark Brauner, the co-CEO of the International Gemological Institute (IGI) Worldwide addressed the most pressing issue: synthetic diamonds and their diffusion into the market. Brauner provided an overview of how man-made diamonds have evolved as well as the types of synthetic diamonds his laboratory has seen over the past year. He also provided some tips on how to identify man-made stones.

Kulhalli Addresses India's Retail Challenges

WATCH NOW: Sandeep Kulhalli, the vice president of retail and marketing for Tanishq Jewellery, discusses the retail landscape in India for diamonds and jewelry. Trends have changed tremendously since the company launched and it has kept pace to become a brand of great prominence in the country. Kulhalli presented at the annual Rapaport International Diamond Conference in Mumbai.

De Beers Sight Dates 2014

Sight 1: January 20 to 24
Sight 2: February 24 to 28
Sight 3: March 31 to April 4
Sight 4: May 5 to 9
Sight 5: June 10 to 13
Sight 6: July 14 to 18
Sight 7: August 18 to 22
Sight 8: September 29 to October 2
Sight 9: November 3 to 7
Sight 10: December 8 to 12


IDE Elects Schnitzer

Shmuel Schnitzer was elected as president of the Israel Diamond Exchange (IDE) with 57% of the vote. Schnitzer previously served as president of the IDE from 1998 to 2004. The IDE holds its presidential elections every two years. Schnitzer heads S. Schnitzer Diamonds Ltd. and is an honorary president of the World Federation of Diamond Bourses and of the IDE, as well as deputy chairman of the World Diamond Council. He is also a member of the committee that advises the Shanghai Diamond Exchange, a position he has held since it opened.

Sadove to Join JCPenney

J.C. Penney Inc.'s board of directors elected Stephen I. Sadove as a new member of the board, effective upon his resignation from the board of directors at Saks Incorporated. Sadove, the chairman and CEO of Saks, will depart the luxury retailer when its merger with Hudson's Bay Company is completed before the end of the calendar year. Additionally, Geraldine B. Laybourne is stepping down from the JCPenney board.

GIA Appoints Jacques

The Gemological Institute of America (GIA) appointed Susan M. Jacques as its new president and CEO. Jacques, currently the president and CEO of Borsheims Fine Jewelry and Gifts in Omaha, Nebraska, and the chair of GIA's board, will take up her new responsibilities on January 1, 2014. At the board’s request, she has been its interim president and CEO since June 2013, following the departure of Donna Baker. GIA's board also appointed John A. Green, a board member since 2008, as board chair, replacing Jacques. Green is the CEO of Lux Bond & Green, a family-owned jeweler established in 1898 with eight locations in the U.S. states of Connecticut and Massachusetts.

Warren Buffett appointed Karen Goracke to replace Jacques as the president of Borsheims.


ALROSA Recovers 235Ct. Stone

The Aikhal Mining and Concentration Mill, a business unit of ALROSA, recovered a 235.16-carat rough diamond in late September. ALROSA described the extraordinary diamond as gem-quality and it estimated the value in the range of $1.5 million to $2 million. The stone was produced from the depths of the Yubileynaya (Jubilee) diamond pipe and the crystal is transparent, with a yellow hue and there are small graphite-sulfide inclusions along the periphery.

Gemfields Auction Totals $9M

Gemfields' auction of rough emeralds in Jaipur, India achieved $8.5 million and realized an average price per carat of $58. The mining company described the sale as comprised of predominately high-quality emeralds from various sources, 17 of 29 lots offered were sold and the market for these gems remains upbeat. The next auction of rough emeralds is scheduled to take place in Lusaka, Zambia in November. The company will offer predominantly lower-quality emerald and beryl from the company's Kagem mine.

Kennady to Raise $8M

Kennady Diamonds Inc. announced the terms of a non-brokered private placement whereby the company plans to raise approximately $8 million by issuing a combination of common shares and flow-through common shares. Earlier in the week, the company initially believed it could raise almost $5 million and then updated the figure to $7 million before a third upgrade Thursday. Concurrently, Kennady entered into an agreement with Dundee Securities Ltd. on behalf of a syndicate including Salman Partners Inc. under which the underwriters have agreed to purchase 728,000 flow-through common shares on a "bought deal" basis for proceeds of $4 million.

Lukoil Prepares Production Schedule

Lukoil expects to produce rough diamonds from the Grib diamond mine by the end of November. While diamonds are not a core business for Lukoil, the Grib pipe represents a high-yield investment. The deposit was estimated to hold 98.5 million carats, representing $11 billion.

Diamond Industry Stock Report

U.S. shares mostly lower except for Birks (+10%), Movado, PureFunds, Saks (all +1%), Walmart (+2%) and Zale (+7%). European and Indian shares mixed but Damiani (+3%) and Classic Diamonds (+13%) pull ahead. Mining shares mainly higher except Peregrine (-3%), Rockwell (-5%), Shore (-6%) and Firestone (-4%). View the extended stock report.
Oct. 11 Oct. 3 Chng.
$1 = Euro 0.739 0.734 0.005
$1 = Rupee 61.36 61.97 -0.6
$1 = Israel Shekel 3.55 3.55 0.00
$1 = Rand 9.90 10.03 -0.13
$1 = Canadian Dollar 1.03 1.03 0.00

Precious Metals
Gold $1,286.70 $1,316.80 -$30.10
Platinum $1,382.00 $1,370.00 $12.00

Stock Indexes Chng.
BSE 20,272.91 19,902.07 370.84 1.9%
Dow Jones 15,126.07 14,996.48 129.59 0.9%
FTSE 6,430.49 6,449.04 -18.55 -0.3%
Hang Seng 22,951.30 23,214.40 -263.10 -1.1%
S&P 500 1,692.56 1,678.66 13.90 0.8%
Yahoo! Jewelry 985.29 1,198.95 -213.66 -17.8%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Oct. 18, 2013

TRADE ALERT: Buyers beware. Persistent reports that large amounts of synthetic lab grown diamonds are being mixed with natural diamonds in parcels of melee and pointers. Know your supplier and insist phrase “natural, untreated diamonds” be included on all invoices.
News: Polished market tough but improving ahead of Diwali and Thanksgiving. Buyers delaying inventory purchases amid persistent price uncertainty. SI strong, VVS weak. Rough market stalled. ALROSA valued above $8B ahead of Oct. 28 offering as 3Q production +10% to 9.9M cts. Rio Tinto’s 3Q production +12% to 4.2M cts. Gem Diamonds sells 12.47ct, blue diamond for $7.5M ($603K/ct). Strong demand, high prices at Argyle pink tender. Christie’s NY sells $47M (75% by lot) with rectangular-cut, 8.77ct, fancy intense pink, VVS1 ring fetching $6.3M ($721K/ct).
RapNet Data: Oct. 17

Diamonds 1,066,593
Value $6,933,721,217
Carats 1,188,924
Average Discount -27.83%
Get Current Price List | Subscribe to Rapaport | Join RapNet
Rapaport Single Stone Auction

New York & Israel
Rapaport Single Stone Auction

New York & Israel
View details.
In a relatively short period of time (since August), we have seen a pretty rapid deceleration in the U.S. ecommerce market. We really haven't seen anymore positive signs in October. All of the anxiety we see when we pick up the newspaper every day makes us fairly cautious about how we look at the holiday season.

Bob Swan | eBay Inc.

The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


ALROSA Production +10%

ALROSA's rough diamond production increased 9.5% year on year to 9.947 million carats in the third quarter that ended on September 30. The increase was primarily due to ALROSA's acquisition of the diamond-mining company Nizhne-Lenskoye, an increase in the ore processed at its Jubilee pipe and higher output from its Mir underground mine.

Specifically during the quarter, ALROSA's Jubilee pipe production surged 43% year on year to 2.456 million carats, while the Aikhal underground mine and Komsomolskaya pipe recorded no production during the period. Mirny division's production increased 6.5% to 1.885 million carats and Udachny division's production doubled to 480,000 carats. ALROSA's Nyurba division production declined 16.8% to 2.022 million carats, the Lomonosov division (Severalmaz) production was flat at 155,000 carats and Almazy Anabara's production slipped 2.4% to 1.553 million carats. Nizhne-Lenskoye production improved 13.9% to 1.397 million carats. ALROSA's production for the first nine months of 2013 has increased 6.3% year on year to 27.053 million carats.

ALROSA's shares are expected to open trading between RUB 35 and RUB 38, or about $1.04 to $1.18, when its public offering takes place on October 28. The listing in that range would value the company at between $8 billion (RUB 258.42 billion) and $8.7 billion (RUB 280.57 billion).

Rio Tinto Production +12%

Rio Tinto’s diamond production rose 12% year on year to 4.158 million carats for the third quarter that ended on September 30. Growth was driven by an increase in the amount of ore processed and higher-grades at the Argyle mine in Western Australia, following full commissioning of the underground mine in April 2013.

Production at Argyle rose 26% to 3.085 million carats, Diavik production dropped 13% to 1.003 million carats and Murowa production declined 24% to 70,000 carats. During the first nine month of the year, Rio Tinto’s total diamond production rose 17% to 11.529 million carats. Rio Tinto expects to mine 15.7 million carats of diamonds in 2013 compared with 13.122 million carats recovered in 2012.


LVMH Jewelry, Watch Sales -2%

Luxury group LVMH's revenue rose 1.7% year on year to $9.5 billion (EURO 7.02 billion) in the third quarter that ended on September 30, however, organic growth, reflecting comparable-stores sales and at a constant-exchange-rate, rose 8%. Jewelry and watch division revenue slipped 1.9% to $914 million, marking the third consecutive quarterly decline. The fashion, leather goods and perfumes and cosmetics business groups also experienced single-digit sales declines in the third quarter. Overall revenue for the jewelry division fell 2% year on year to $2.68 billion for the first nine months.

Luk Fook Reports Strong Comps

Luk Fook Holdings reported strong sales growth during its second fiscal quarter that ended on September 30, without providing hard totals. Same-store sales in Hong Kong and Macau grew 30% year on year, while same store sales at its Mainland China stores rose 70%. Gold products and gem-set jewelry increased 56% in Hong Kong and Macau and by 10% in Mainland China. Sales during the National Day Golden Week, which began on October 1, grew 17% year on year in Hong Kong and Macau and 67% at the group's mainland locations.

Christie's Jewels Sale Nears $47M

Christie's New York sale of magnificent jewels achieved $46,675,125, which was above the presale estimate of $40 million, and was 75% sold by lot, with the top seven lots selling for more than $1 million each. The sale offered three loose stones from gem collectors with the top lot being an 8.77-carat, VVS1, rectangular‐cut fancy intense pink diamond ring that sold within estimate to Moussaieff Jewellers for $6,325,000. A 3.81-carat, VS1, fancy vivid blue, rectangular-cut diamond ring sold above its high presale estimate of $3.5 million and achieved $3,973,000. The third loose stone, a 5.13-carat, square-cut fancy vivid yellow diamond sold within estimate at $269,000.

Lazare Kaplan Revenue Falls

Lazare Kaplan International anticipates that revenue fell 30% year on year to $13.5 million for its first fiscal quarter that ended on August 31. The decrease in sales primarily reflected a decrease in sales of commercial (non-branded) polished diamonds, according to the firm's notification of late filing with the Securities & Exchange Commission (SEC). The company only gives ''a reasonable estimate'' of its anticipated net sales due to ongoing litigation and material uncertainties, all of which have prevent Lazare Kaplan from filing quarter and fiscal year financial reports since May 2009.

Michael Hill Revenue +9%

Jeweler Michael Hill International reported a preliminary revenue increase of 8.7% year on year to $93.3 million (AUD 98.48 million) for the first quarter that ended on September 30. Overall, same-store sales rose 3.8 percent. By region and in local currency, sales at all stores in Australia rose 5.5%, while same-store sales increased 1.1%. Revenue at all stores in New Zealand declined 6.2% and same-store sales were 6.1% lower. Canada-based jewelry store revenue jumped 25.4% and comparable-store sales rose 5.9%. In the U.S., the retailer's smallest market, overall sales declined 4.2% and same-store sales rose 7.2%.

Red Diamond Sells for $2M

Rio Tinto’s 2013 Argyle Pink Diamonds tender achieved strong results with the top lot selling for over $2 million. Without providing specific details, the company stated that the Argyle Phoenix, a 1.56-carat, fancy red diamond, achieved the highest per carat price for a diamond ever produced from the Argyle mine, while the Argyle Dauphine, a 2.51-carat, fancy deep pink diamond, broke the record for the highest price paid for an Argyle diamond in value as well as setting a world record for a fancy deep pink diamond. The tender offered 64 diamonds from the Argyle mine in Australia, including three fancy red diamonds, and one pink, red and blue diamond ranging in size from 0.20 carats to 3.02 carats. The tender was 100% sold by lot.

Tiffany Proceeds With Watch Plans

Tiffany & Co. intends to proceed with plans to design, produce, market and distribute Tiffany & Co.-branded watches, according to a filing with the Securities & Exchange Commission (SEC). Communications from the ''Swatch Parties'' indicated the all agreements were automatically terminated as of October 1, enabling it to proceed with brand watch plans through alternative arrangements.

The luxury jeweler originally established an exclusive agreement with the Swatch Group and its affiliate ''Tiffany Watch Co. Ltd.'' in December 2007; however, the deal ended in a bitter and expensive court battle less than two years later. Swatch sued Tiffany & Co. in 2011 for $4 billion, citing lost revenue; Tiffany & Co. counter sued for $600 million. Both parties have been cooperating in a ''confidential'' arbitration proceeding to resolve the matter outside of the U.S.

Maison Birks Preps to Open in China

Maison Birks expects to open its first store in China, following the Chinese New Year in early 2014. The store will be located at the Xanadu Plaza in the central business district of Beijing and feature branded products, diamond and fashion collections and Maison Birks' certified Canadian diamonds. The Maison Birks store in Beijing will be the brand's first retail location outside of North America. The store design was conceived in partnership with Sid Lee, a Montreal-based design firm with an international reputation, and was inspired by Birks' latest branding and visual platform.

Trent West, DAXX Settle Case

Trent West, the owner of nine patents related to the concept and manufacturing of Tungsten Carbide rings in the U.S., has reached a settlement agreement with DAXX, also known as (aka) Silver Bin. As part of the settlement agreement, DAXX will no longer sell Tungsten Carbide rings and will pay West an undisclosed amount for damages. West has four pending cases against Internet sellers for allegedly distributing and/or selling Tungsten Carbide rings without a license and is seeking permanent injunction against all defendants from further infringement and monetary damages from alleged infringement.

IDMA, WDMF Agree to Common Goals

IDMA presidents signed a memorandum of understanding with the World Diamond Mark Foundation (WDMF), agreeing to share common goals in seeking to sustain and improve consumer desirability and confidence in diamonds and diamond jewelry. The members also committed to have a meeting during the first quarter of 2014 with representatives of the international banks, citing concerns over long term banking policies as well as the extreme imbalance between prices of rough and polished.

Hearts On Fire Opens Second Store

Diamond brand Hearts On Fire opened at the King of Prussia Mall in Philadelphia, Pennsylvania, marking its second U.S. retail location. The company's retail concept features eye-level, transparent "Jewel Boxes" that replace traditional display cases along with lighting, sound, scents and soft materials that company confirmed ''appeals to all five human senses'' in order to create an enjoyable shopping environment.

The new store also features a digitally enhanced environment throughout the 1,200-square-foot space to empower consumers to learn about all aspects of the Hearts On Fire brand, including interactive screens, video and a digital jewelry catalog. There is also a "Community Table" that encourages shoppers to sit down and interact with each other as they try on diamond jewelry.

Stores are Central to Consumer Relationships

Business consultants at A.T. Kearney concluded that even though consumers expect to shop across multiple channels, retailers that fail to position their physical store at the center of the customer relationship are at a disadvantage. According to a new study “Recasting the Retail Store in Today’s Omnichannel World,” A.T. Kearney surveyed more than 3,000 consumers in the U.S. and U.K. to understand how and why consumers use different channels at each stage of the shopping process.

Survey results led the group to recommend retailers strategically deploy their brick and mortar asset(s) and integrate with their other channels to drive increased customer traffic, brand loyalty and improved performance. The study found that 61% of consumers spent the majority of their time shopping in stores, 31% shopped online, 4% bought through catalogs and 4% via mobile device.

The physical store was the leading channel of choice across all demographics. Retailers should strategically assess and recast the role of stores along the following five dimensions: Discovery, entertainment, relationship, transaction and fulfillment.

U.S. Consumers Scale Back Gift Spending

The National Retail Federation (NRF) released its annual Christmas-season consumer survey, which revealed that 91.7% of U.S. consumers celebrate a fourth-quarter holiday, with 94.8% celebrating Christmas, while 6.5% celebrate Hanukkah and 2.8% recognize Kwanzaa. On average, consumers who celebrate expect to spend $536.85 on gifts, representing a 2.5% decline from 2012. The NRF found that overall spending intentions this year for gifts, decorations, greeting cards and flowers combined, was 1.9% lower at $737.96 on average.

Of those who celebrate and expect to receive gifts, 23.3% selected jewelry or precious metal accessories as their choice. In recent years the figure was 24% in 2012, 22.8% in 2011, 23% in 2010 and 20.8% in 2009. The NRF concluded that U.S. consumers were clearly watching their spending this year and seeking deep discounts.


Diavik Production -14%

Dominion Diamond Corporation reported Diavik diamond mine production fell 13.5% year on year to 1.7 million carats for the third quarter that ended on September 30. Dominion Diamond owns a 40% stake in the mine, while Rio Tinto owns a 60% share.

Despite the reduction, Dominion confirmed that Diavik's production goal of 7.3 million carats this year remains on target. Dominion Diamonds' production at the Ekati diamond mine included 400,000 carats from reserves and 300,000 carats from coarse ore rejects and diamond-bearing kimberlite excavate from a satellite body in the Misery open pit. Dominion Diamonds acquired Ekati on April 10. One year ago, BHP Billiton reported producing 313,000 carats during the same period.

Blue Stone Fetches $603K Per Carat

Gem Diamonds Limited sold a rare, rough 12.47-carat blue diamond from the Letseng mine for $603,047 per carat, or $7.52 million. In addition, the mining company sold an 82-carat, ''exceptional quality'' rough diamond for $59,173 per carat, or $4.8 million. gem diamonds Both diamonds were recovered in September. Gem Diamonds continues to expect recovering high-quality diamonds at Letšeng.

Rockwell Narrow Loss

Rockwell Diamonds reported that revenue rose 33.4% year on year to $9.9 million in its second fiscal quarter of 2014, which ended on September 30. Rough diamond sales jumped 24% to $8.6 million, while beneficiation income surged 185% to $1.3 million. The mining company narrowed its loss to $1.4 million compared with $2 million one year ago. Rockwell carried forward an inventory of 2,508 carats into the third quarter and it recorded 6,272 carats in the beneficiation pipeline.

Pangolin Discovers New Kimberlite

Pangolin Diamonds discovered a new kimberlite, Martin 01, at its Tsabong north project in Botswana. A single hole was drilled into the magnetic target, crater volcanic sediment was intersected at 85 meters below the surface and sandy tuffs were intersected at a depth of 105 meters. This kimberlite is distinguished from other kimberlites in the region in that it has a cover of Karoo sediments, including poorly developed thin coal seams. This is the first recorded discovery of a kimberlite in Botswana below the Karoo Formation in the area. Core samples are being submitted to independent laboratories to recover any indicator minerals and any diamonds.

De Beers Opts Out of Chidliak

Peregrine Diamonds Ltd. was notified by De Beers Canada Inc. that the mining giant does not intend to exercise its right to enter into an earn-in and joint-venture agreement with the junior miner on the Chidliak diamond project in Nunavut, Canada. Peregrine has been processing approximately 250 wet tonnes of a 508-tonne bulk sample collected from the property's CH-6 kimberlite pipe.

Approximately 150 tonnes of the sample have been processed so far and De Beers is funding this and the subsequent diamond recovery at the Saskatchewan Research Council. Final results from the sample, including an independent diamond valuation, are expected in the first quarter of 2014.

Lesotho Grants License to Paragon

Paragon Diamonds was awarded a mining license by the Lesotho Ministry of Mines for its 85% owned Lemphane kimberlite project. The license is for a 10 year period and will expire on October 9, 2023 with an option to renew. The company is still negotiating royalty terms with the government.

Diamond Industry Stock Report

U.S. shares slightly higher on average except for Birks (-6%), JCP (-8%) and Charles & Colvard (-1%). Hong Kong shares gain on upbeat sentiment. Europe mixed and brought down by disappointing results from LVMH (-5%). Indian shares mixed with Goldiam (-9%) and Vaibhav (+6%) marking the spread. Other than Peregrine (-42%), Rockwell (-7%) and Stellar (-8%), diamond miners were all higher. View the extended stock report.

Oct. 17 Oct. 11 Chng.
$1 = Euro 0.730 0.739 -0.009
$1 = Rupee 61.10 61.36 -0.3
$1 = Israel Shekel 3.52 3.55 -0.03
$1 = Rand 9.82 9.90 -0.08
$1 = Canadian Dollar 1.03 1.03 0.00

Precious Metals
Gold $1,319.90 $1,286.70 $33.20
Platinum $1,434.00 $1,382.00 $52.00

Stock Indexes Chng.
BSE 20,415.51 20,272.91 142.60 0.7%
Dow Jones 15,366.77 15,126.07 240.70 1.6%
FTSE 6,576.16 6,430.49 145.67 2.3%
Hang Seng 23,094.88 22,951.30 143.58 0.6%
S&P 500 1,732.85 1,692.56 40.29 2.4%
Yahoo! Jewelry 969.35 985.29 -15.94 -1.6%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Oct. 25, 2013

TRADE ALERT: Buyers beware. Persistent reports that large amounts of synthetic lab grown diamonds are being mixed with natural diamonds in parcels of melee and pointers. Know your supplier and insist phrase “natural, untreated diamonds” be included on all invoices.

News: Polished buyers in India looking for deals before Diwali vacation Nov. 1-15 but suppliers resisting lower prices even though local market is weak. U.S. stable with very strong demand and firming prices for SI goods despite slump in consumer confidence. Rough markets quiet as manufacturers take early Diwali vacation. De Beers begins $2B Venetia underground construction, 3Q production +21% to 7.7M cts. Chow Tai Fook’s 2Q revenue +35%, gem-set jewelry same-store sales +4%. India’s Sept. polished exports +11% to $1.7B, rough imports -6% to $1.3B. Belgium’s Sept. polished exports +3% to $1.4B, rough imports -3% to $1.1B. U.S. Aug. polished imports +30% to $1.7B, exports +33% to $1.7B. ABN Amro to close Botswana office.
RapNet Data: Oct. 24

Diamonds 1,068,701
Value $6,989,359,787
Carats 1,196,901
Average Discount -27.94%
Get Current Price List | Subscribe to Rapaport | Join RapNet
Rapaport Single Stone Auction

New York & Israel
Rapaport Single Stone Auction

New York & Israel

View details.
We’ve only accelerated [corporate responsibility] in the past year -- with our commitments on renewable energy, to reduce certain chemicals in products and to help revitalize manufacturing in the U.S. We set the pace for how companies take on big issues facing society, and we’ll keep leading because it’s good for our business.

Mike Duke | Walmart Careers@Rapaport

The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.

De Beers Production +21%

De Beers Group reported that diamond production jumped 21% year on year to 7.731 million carats for the third quarter that ended on September 30. Debswana's diamond production surged 24% to 5.446 million carats, while production in Canada increased 50% to 485,000 carats. Namdeb's diamond production rose 6% to 445,000 carats and De Beers Consolidated Mine production was 9% higher at 1.355 million carats.

In summary, rough diamond production rose in large part due to the restoration of De Beers operations at the Jwaneng diamond mine in Botswana, following a slope failure incident in June 2012. Production from the Snap Lake diamond mine in Canada was also significantly higher due to increased mining volume. Debswana's diamond production, however, was impacted by the Orapa plant's maintenance and lower grades. Production at Venetia continued to improve following a pit flood earlier in the year.

For the first nine months of 2012, De Beers production has improved 11% year on year to 22.026 million carats.

China's Jewelry Sales Rise

The National Bureau of Statistics of China reported that retail sales rose 13.3% year on year to $339 billion (CNY 2.065 trillion) during the month of September. Retail sales for January through September in China have surged 12.9% year on year to $2.8 trillion. The data revealed that consumer spending on ''gold, silver and jewelry'' in September skyrocketed 18.2% year on year to $3.6 billion. Consumer spending under that metals and jewelry category has risen 29.6% for the first nine months of 2013 to $37 billion.

Swiss Watch Exports +9%

Swiss Watch exports grew 8.5% year on year to $2.1 billion (CHF 1.9 billion) in September, according to the Federation of the Swiss ‎Watch Industry.‎ An additional working day in September as well as an increase in exports of steel, platinum and gold watches impacted the rise in exports in value terms during the month.

Exports of wristwatches rose 8.3% to $1.982 billion, while the number of units shipped fell by 4.3%. The value of other products grew by 28% to $51.6 million. Exports to Hong Kong rose 10% to $406.2 million, while exports to the U.S. grew 17% to $229.5 million. Exports to China continued to lose ground and fell 3% to $139.8 million.


Chow Tai Fook's Revenue +35%

Chow Tai Fook observed that group revenue grew 35% year on year in the second fiscal quarter that ended on September 30. Without providing hard totals, the retailer cited strong growth in the sale of gold products and improved wholesale revenue.

Group sales in Mainland China rose 33% and jumped by 38% in Hong Kong and Macau. Group same-store sales during the quarter increased 18%, with China up 12% and Hong Kong and Macau rising 26%. Chow Tai Fook reported that same-store sales growth of gem-set jewelry rose 4%, while gold product same-store sales grew by 33%, driven mainly by a notable volume increase for luxury jewelry. The group anticipates that its mass luxury jewelry segment will continue to be a major growth driver.

Pure Gold's Eid Sales Jump

Pure Gold Jewellers observed a 20% increase in gold jewelry sales during the Eid Al Adha festive season, though it did not provide a hard total. Firoz Merchant, the chairman of Pure Gold Jewellers, stated that even with a surge in gold jewelry sales during the festival period, diamond jewelry sales remained the same as last year.

Pure Gold Jewellers offered a 70% discount on its contemporary range of Pure Diamonds collection for Eid Al Adha and offered chances to win a certified diamond solitaire on purchases of gold or diamond jewelry. Merchant added that the retailer is now preparing for ''the rush'' expected for the Indian festival of Diwali and Dhanteras, the auspicious day when South Asian customers buy jewelry.
Cash America's Profit Soars

Cash America International Inc. reported its revenue slipped 0.4% year on year to $437.8 million for the third quarter that ended on September 30; however, profit surged to $46.2 million from $7.9 million one year ago. The company's management believes that opportunities for growth in revenue and earnings this year will be largely associated with customer demand for its credit products, which take the form of pawn loans and consumer loans and the disposition of unredeemed collateral by way of consumer spending on retail sales and the commercial sale of refined gold and diamonds.

Bonhams Sale Achieves $6M

Bonhams auction of fine jewelry in New York achieved nearly $6.3 million and was 85% sold by lot. The top lot sold for $461,000 and featured a 5.85-carat, oval-cut Kashmir sapphire and diamond ring. The auction house stated that the ring ignited a phone bidding war and the final price realized was more than four times the presale estimate. Diamond sale highlights included an 8.06-carat (pictured), pear-shaped, natural fancy light pink diamond that achieved $389,000 and an 8.45-carat diamond, platinum and 18-karat gold ring that sold for $293,000, more than triple its presale estimate.

Walmart Plans China Expansion

Walmart plans to add as many as 110 stores in China during the next three years, while closing 30 underperforming outlets and remodeling 45 stores. It is planning to target smaller cities outside of Beijing and Shanghai for expansion and it is investing in distribution centers to reduce operating costs. The retailer stated that China presents one of the biggest opportunities to grow revenue and profit, especially since U.S. shoppers are more reluctant to spend. Walmart reduced its guidance for the U.S. this year.

Retailers Win With Jewelry + Gifts

Independent jewelers who identify and position themselves as a retailer of ''jewelry and gifts'' could enhance their retailing position, according to the latest Unity Marketing resort titled "A Declaration of Independents." Unity Marketing's president, Pam Danziger, said that retailers should strive to describe their store not around the things they sell, but around the experiences they deliver to the customer.

Danziger found that among the 350 independent specialty retailers surveyed, most defined themselves either primarily or secondarily as a "gift store." However, how they identified the store had a dramatic impact on revenue. "In our survey, we found that stores that identify themselves primarily as gift stores bring in less than half the revenue as those who see themselves only secondarily as gift stores," explained Danziger.

"While those who identified first as gift stores had average revenue of around $600,000, those who identified second as gift store brought in $1.3 million," she said. The survey noted, stores that described themselves as jewelry plus gifts, home furnishing and gifts, and/or fashion and gifts performed much better than retailers that described themselves primarily as a gift store.

James Avery Plans Visitor Center

Jewelry retailer James Avery plans to build a new retail store and visitor center at its corporate headquarters in Kerrville, Texas. The company broke ground this week in the Texas Hill Country on its new 4,000-square-foot facility that was designed by David Martin, of A3 Studio, in collaboration with in-house architect Howell Ridout and the Avery family. Careful attention was paid to integrating the retailer's new look with the traditional hill country architecture. A greatly expanded visitors center overlooks a park setting where visitors and travelers may gather and relax, according to the firm.

Tiffany Redesigns Online Channel

Tiffany & Co. redesigned and relaunched its channel with interactive pathways to explore the brand's heritage and prominence just in time for Christmas season. The new website features high-resolution visuals and video and it enables customized searches by category, designer, price, materials and gemstones.

The jeweler expanded its informational portfolio online by highlighting quality standards, the 4Cs and how it sources gemstones, while respecting and upholding human rights and responsible environmental practices. The site's new sections focus on the brand's evolution as a preeminent jeweler, features the Blue Book, the workshop above the Fifth Avenue flagship store, a timeline of the company's history and stories of real-life couples who recall-on film and in photographs-the thrill of the brand.

Forevermark Launches in Australia

Forevermark launched the brand in Australia with retailer partners, including Diamonds International, Musson and Percy Marks in the cities of Brisbane and Sydney. Forevermark also extended an existing partnership with Canada-based Forevermark diamantaire, Crossworks Manufacturing, to now include Australia. Crossworks engaged Australia-based Storch & Co. to oversee local distribution.

Affluents' Spending Mood Sours

Affluent households in the U.S. have turned overwhelmingly pessimistic about the economy and their spending plans for the upcoming Christmas season, according to the latest luxury tracking survey by Unity Marketing. Several key indicators of consumer confidence haven't been this low since the recession of 2008 and 2009. Affluents' expectations on future luxury spending this Christmas also took a dramatic downward turn with only 20% of those surveyed planning to spend more on luxury goods compared with 31% one year ago. Furthermore, 28% expect to spend less and that up from 18% last year.

Unity Marketing urged retailers to ''pull out all the stops'' in terms of promotions and discounting this season to attract these cautious shoppers. The most important feature affluents say they will look for when choosing a gift is to find it on sale or at a deep discount. The second most important feature that makes a gift appealing is that it be ''Made in USA,'' which reflects affluents' growing desire to support U.S.-based companies. The average amount affluents expect to spend on Christmas-season gifts is $1,730, according to the firm.

ABN Closes Botswana Branch

ABN AMRO Bank N.V. prepared to close its office in Botswana, which currently includes a team of four employees from the bank's international diamond and jewelry group. According to the bank's statement, it continued to recognize the importance and favorable position of Botswana within the diamond and jewelry sector, however, the scale of the bank's operations in the country in the context of its global reach was just too limited to be sustainable.

Clients were being informed of the decision this week and ABN AMRO stated that it is working with each client to find ways in which the business relationship may continue from other locations.

IDE Names Board

The Israel Diamond Exchange (IDE) announced the following board names: Shmuel Schnitzer, president; Jacob Korn, deputy and vice president; Jacob Kattan, senior vice president; Arnon Yuval, vice president; Yehezkel (Hezi) Blum, vice president and chairman of the finance committee; Ben Zion Shashu, vice president; Jacob Haron Shelly, vice president; Mordechai (Moti) Fluk, treasurer; Meir Dalumi, chairman of the judicial committee; Yoram Dvash, honorary secretary; Shlomo (Shizo) Shimshowitz, honorary secretary; Shalom Papir, member of the presidium and board members Loni Grinker, Yosef Ben Zion, Amotz Raz, Emma Yanover and Muni Bachar.

Angola Poised for Growth

Sínese and investment services firm Eaglestone believe that Angola’s diamond industry is poised for growth following the enactment of more investor-friendly mining laws and relatively untapped reserves of high-quality diamonds. Angola's production has been relatively flat since 2010 at 8.3 million carats, down from a peak of 9.7 million carats in 2007. But with simplified paperwork, the possibility of private sector investors and significant alluvial diamond deposits, the consultants believe Angola's production could reach its earlier peak shortly.


Venetia Breaks Ground on Second Life

The De Beers Group began construction of its new underground mine beneath the open pit Venetia diamond mine in Limpopo Province, South Africa. This $2 billion investment is expected to extend the life of Venetia beyond 2040 and replace the open pit as South Africa’s largest diamond mine. With underground production expected to begin in 2021, over its life of the mine, De Beers anticipates producing 96 million carats from approximately 130 million tonnes of ore. The underground mine will support over 8,000 jobs directly and another 5,000 across the supply chain, according to De Beers.

Canada Approves Gahcho Kue

The Minister of Aboriginal Affairs and Northern Development Canada, Bernard Valcourt, approved the development of the De Beers Canada and Mountain Province Diamonds Inc.'s Gahcho Kue diamond mine as recommended by the Mackenzie Valley Environmental Impact Review Board. De Beers stated that the Gahcho Kue diamond mine will meet the highest standards, benefit the economy and residents of the Northwest Territories and enhance Canada's position as a premier diamond producer.

The partners expect Gahcho Kue to employ close to 700 people during the two years of construction and almost 400 people during its operations phase. It is forecast to produce an average of 4.5 million carats annually over the 11 year mine life.

Kennady Raises $9M

Kennady Diamonds Inc. closed its non-brokered private placement of flow-through and non-flow-through common shares for gross proceeds of $9 million. The exploration company issued 247,100 flow-through common shares at a price of $5.50 per share and 1,608,621 non-flow-through common shares at a price of $4.75 per share. The shares are subject to a four-month hold period, expiring on February 21, 2014. Proceeds of the private placement will be used primarily for the company's 2014 exploration program at the Kennady north diamond project and for general working capital.

Diamcor Sells 92-Carat Stone

Diamcor Mining Inc. sold a 91.72-carat, gem-quality octahedron rough diamond for $817,920, or $8,918 per carat. It was the first gem-quality diamond sold by the mining company in the 50-carat-plus category. large diamond The diamond was sold as part of a 2,654.63 carat parcel of rough diamonds from the company's Krone-Endora at Venetia diamond project that generated proceeds of $1.15 million.

The majority of rough diamonds sold were recovered in conjunction with ongoing testing and commissioning exercises on the lower-grade upper zone material, nonetheless, the value per carat achieved from the sale exceeded the company's expectations. To date, Diamcor Mining has sold 14,110.48 carats for $2.93 million, or $207.51 per carat on average from the ongoing commissioning and testing exercises.

Firestone Improves Valuation

Firestone Diamonds upgraded the average value of diamonds from its Liqhobong mine in Lesotho to $107 per carat, compared with a previous valuation of $98 per carat. Large diamonds over 100 carats were valued at $156 per carat. The report analyzed a large production parcel from Liqhobong's pilot plant that was recovered and sold over the past 22 months. Firestone recovered 325,000 carats between September 2011 and July 2013.

Dominion Preps to Extend Ekati

Dominion Diamond Corporation applied for a new land use permit and a class A water license for the extension of the Ekati diamond mine to include the Jay and Cardinal kimberlite pipes. The application was filed with the Wek'éezhii Land and Water Board (WLWB). The Jay-Cardinal project has the potential to extend Ekati's mine life by 10 to 20 years beyond the currently scheduled date of closure in 2019, according to the company.

LNG to Save Renard Operating Costs, Emissions

Stornoway Diamond Corporation determined that a Liquefied Natural Gas (LNG) fueled power plant at the Renard diamond project would reduce the company's annual operating costs and greenhouse gas emissions. The exploration firm conducted a feasibility study through SNC-Lavalin Inc. and AMEC America Ltd. to demonstrate the benefits of LNG compared with the currently planned diesel generator-set option. The study determined that Renard could reduce its annual operating costs between $8 million and $10 million using LNG for an incremental capital cost of $2.6 million over the cost of diesel gen-sets. Furthermore, the report estimated that LNG would reduce greenhouse gas emissions by 43%, compared with diesel, along with significant reductions of NO2 and SO2.


Aug. $Mil. %Chng. YTD $Mil. %Chng.
Polished imports $1,667 30% $15,389 14%
Polished exports $1,695 33% $13,261 15%
Net imports ($28) $2,130 6%

Rough imports $32 -20% $330 -4%
Rough exports $39 96% $193 -13%
Net imports ($7) $137 11%

Net diamond account ($35) $2,267 6%


Sept. $Mil. %Chng. YTD $Mil. %Chng.
Polished exports $1,367 3% $10,355 4%
Polished imports $1,379 17% $10,193 2%
Net exports ($12) $163

Rough imports $1,049 -3% $9,927 10%
Rough exports $1,197 4% $10,811 10%
Net imports ($149) ($888)

Net diamond account $137 -40% $1,046 39%


Sept. $Mil. %Chng. YTD $Mil. %Chng.
Polished exports $1,684 11% $16,123 23%
Polished imports $606 112% $5,507 32%
Net exports $1,078 -13% $10,616 4%

Rough imports $1,282 -6% $12,295 13%
Rough exports $124 -22% $1,431 16%
Net imports $1,158 -4% $10,864 1%

Net diamond account ($80) ($249)

Diamond Industry Stock Report

Gains were uneven across the main trading centers with Blue Nile and PureFunds (+7%) leading the U.S., Richemont (+3%) ahead in Europe and Gitanjali (+24%) well above Indian competitors. Investors pulled back on miners with Stornoway, True North, Firestone and Gem Diamonds all down by double-digits. View the extended stock report.

Oct. 24 Oct. 17 Chng.
$1 = Euro 0.720 0.730 -0.010
$1 = Rupee 61.45 61.10 0.4
$1 = Israel Shekel 3.52 3.52 0.00
$1 = Rand 9.76 9.82 -0.06
$1 = Canadian Dollar 1.04 1.03 0.01

Precious Metals
Gold $1,347.30 $1,319.90 $27.40
Platinum $1,448.00 $1,434.00 $14.00

Stock Indexes Chng.
BSE 20,725.43 20,415.51 309.92 1.5%
Dow Jones 15,509.21 15,366.77 142.44 0.9%
FTSE 6,713.18 6,576.16 137.02 2.1%
Hang Seng 22,835.82 23,094.88 -259.06 -1.1%
S&P 500 1,752.07 1,732.85 19.22 1.1%
Yahoo! Jewelry 988.70 969.35 19.35 2.0%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Nov. 1, 2013

TRADE ALERT: Buyers beware. Persistent reports that large amounts of synthetic lab grown diamonds are being mixed with natural diamonds in parcels of melee and pointers. Know your supplier and insist phrase “natural, untreated diamonds” be included on all invoices.

News: Global demand very weak for this time of the year. U.S. market OK and better than the rest of the world but not as strong as expected before the holiday season. Reports of possible hike in India’s polished diamond duty from 2% to 5% dampens Diwali mood. Rough trading quiet. ALROSA valued at $8.1B in Moscow share listing. Titan Company’s 2Q sales +1% to $372M, net profit +4% to $30M. Blue Nile’s 3Q sales +10% to $99M, net profit +67% to $3M. U.S. Aug. jewelry store sales +7% to $2.4B. De Beers names Paul Rowley to succeed Varda Shine in Jan. We wish everyone a happy Diwali and a prosperous new year.
RapNet Data: Oct. 31

Diamonds 1,050,779
Value $6,905,923,834
Carats 1,185,170
Average Discount -27.91%
Get Current Price List | Subscribe to Rapaport | Join RapNet
'Synthetic Diamond Crisis'

Presentation by Martin Rapaport
Gem-A Conference London
Goldsmith's Hall
1:45 p.m.
Email amandine(at) for info.
Rapaport Jewelry Sale

New York
Rapaport Single Stone Auction

New York & Israel

View details.
The diamond trade must wake up to the fact that diamonds are only as good as the people who sell them. The mixing of blood diamonds and synthetic diamonds with legitimate diamonds and their fraudulent sale to consumers is evil and must be stopped. Responsible jewelers and consumers must reject unethical suppliers who should be named, blamed and shamed.

Martin Rapaport | Rapaport Group

The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


India to Raise Diamond Duty

India now plans to raise the import duty on cut and polished diamonds to 5% from 2%, according to Business Standard, and the government is allegedly implementing this duty in the interest of small-scale diamond manufacturers. Vipul Shah, the chairman of the Gem & Jewellery Export Promotion Council (GJEPC), noted that rising imports of cut and polished diamonds pose a threat to small scale manufacturers, adding that a higher duty would discourage trading and, thus provide relief to small manufacturers who are unable to sustain their business due to high manufacturing costs. The increase won't affect jewelry exporters as the duty is taken back from the government through an export incentive scheme known as Duty Entitlement Passbook Scheme (DEPS).

Rapaport to Address Synthetic Crisis

Martin Rapaport, the chairman of the Rapaport Group, will address the threat of synthetic diamonds being mixed with natural diamonds without disclosure on November 3 at 1:45 p.m. at Goldsmiths’ Hall in London during the Gemmological Association of Great Britain (Gem-A) anniversary conference. Rapaport will provide insight into the challenges and opportunities facing the diamond industry with practical policy guidelines that can ensure a sustainable ethical diamond trade.

To attend the conference, please send your request to Amandine Rongy, email: amandine(at) and to receive a copy of Rapaport's speech, email: media(at)

WFDB Vows to Prosecute Fraud

The World Federation of Diamond Bourses (WFDB) acknowledged that synthetic diamonds have a place in the market, but goods must be identified as such and it warns the trade that severe action will be taken against anyone found to have knowingly misrepresented synthetic diamond disclosure. The WFDB vowed to work with all legal agencies across the globe to assist in the prosecution of those who participate in this type of industry fraud.

Jewelry Store Sales +7%

U.S. jewelry store sales rose 6.9% year on year in August to $2.389 billion. The pace of growth was down from 9% in July. And while the consumer price index (CPI) for jewelry rose just 2.5% year on year in August, it was flirting with the record high of 183 points. Jewelry store sales for the first eight months of 2013 have risen 9.2% year on year to $19.652 billion.

Meanwhile, advanced estimates for retail sales at U.S. department stores in September fell 6.7% year on year to $12.686 billion. Total retail and food services sales rose 3.5% to $425.9 billion. Nonstore retail sales increased 8.9% and retail trade sales increased 3.1%.

Blue Nile's Profit +67%

Blue Nile's revenue increased 10.1% year on year to $98.925 million for the third quarter that ended on September 30, while cost of sales increased 10.1% to $80.238 million. Profit jumped 66.9% to $2.906 million or 23 cents per share and included an income tax benefit of $1.1 million or 8 cents per share from certain tax items. Gross profit as a percent of net sales rose to 18.9% compared with 18.8% one year ago.

U.S. engagement revenue improved 7.1% to $57.9 million and non-engagement sales increased 9.6% to $23.9 million. International sales jumped 22.9% to $17.1 million, excluding the impact from changes in foreign exchange rates the increase was 27.6%.

Titan's Profit +4%

Titan Company Limited, formerly Titan Industries Limited, owners of the Tanishq jewelry brand in India, reported that sales rose 1.4% year on year to $372.3 million (INR 22.9 billion) in what the company called a challenging second quarter that ended on September 30. Profit grew 3.6% to $30.3 million. Jewelry sales, which included revenue from the company's three major jewelry brands Tanishq, GoldPlus and Zoya, rose 4.3% to $292.4 million and watch division sale fell 6% to $71.9 million.

Chow Tai Fook Expects Stronger Profit

Chow Tai Fook notified shareholders that it expects significant growth in its profit for the six month period that ended on September 30; however, the retailer did not provide hard totals. Profit was reportedly given a boost from strong gold product sales, coupled with the reduced hedging losses on gold loans during the period. The group is expected to release its interim results in late November.

Jewelry CPI Flat

The U.S. consumer price index (CPI) for jewelry rose 0.2% year on year in September to 181.01 points, a full point lower than August but the second-highest reading of 2013. The highest CPI was 183.19 points in January 2012. The average monthly CPI for the first nine months of the year was 0.3% lower year-on-year at 177.97 points. The CPI reading in September was the eleventh ever to exceed 180 points and it marked the 33rd consecutive month with a reading of more than 170 points, continuing to maintain a historically strong inflation trend.

Gemesis Launches Pink Collection

The Gemesis Diamond Company, producer of lab-grown diamonds and jewelry, added a fancy pink collection to its ecommerce channel. The new palette of pinks includes "blush" and "brilliant" shades. Gemesis previously only offered lab-grown yellow and type IIa colorless stones on its website. Gemesis' fancy pink collection is marketed to consumers as high-clarity stones in a selection of rounds. The company explained to consumers that all lab-grown diamonds over 0.23-carat sold on are certified and laser-inscribed by the International Gemological Institute (IGI).

AARC: 14% Select Jewelry Gift Choice

The American Affluence Research Center (AARC) concluded that the wealthiest consumers in the U.S. have a slightly better outlook on the economy and their finances than the general public; however, this view was not quite enough to boost the affluents' expected gift spending plans over Christmas 2013 compared with 2012. AARC's proprietary research revealed that average gift spending would decline by 2.8% year on year to $2,175 per affluent household, representing a total market value of $23.6 billion, about the same as 2012 after allowing for the households that will not buy gifts.

AARC also determined that expected spending plans usually are conservative to what affluents actually spend. Of the favorite gifts items chosen by affluents in the survey, AARC found that 14% selected fine jewelry (2% of men and 27% of women) as a gift they'd like to receive for Christmas, and 7% selected a watch (5% of men and 11% of women), both averages of which were about the same as in 2012. Nonetheless, the spending index for fine jewelry and watches, at 63 by AARC's proprietary measure, was essentially unchanged this month from its spring 2013 survey and flat from one year ago.

SRC: 5% Intend to Buy Jewelry

The Shullman Research Center (SRC) determined wealthy U.S. household spending intentions on 14 specific luxury goods categories, including jewelry and watches, based upon incomes of $75,000 or more and found that 34% of adults are planning to make a luxury goods purchase in the next 12 months. Five percent planned to buy fine jewelry overall, but of that group, 10% of those shoppers in a households earning between $75,000 and $249,999, 21% earning $250,000 to $499,999 and 24% earning more than $500,000 planned to make a jewelry purchase.

Neimans Completes Merger

NM Mariposa Holdings Inc. and Mariposa Merger Sub. LLC, affiliates of Ares Management LLC and the Canada Pension Plan Investment Board (CPPIB), completed the $6 billion acquisition of luxury retailer Neiman Marcus Group Ltd. Inc. The transaction was originally announced on September 9. The luxury retailer's currently outstanding 7.125% senior debentures due in 2028 were expected to remain outstanding immediately following the closing of the transaction.

Shareholders Approve Saks Merger

Shareholders of luxury retailer Saks Incorporated overwhelmingly approved the merger agreement with Hudson’s Bay Company during a special meeting this week. Hudson's Bay also operates Lord & Taylor and Home Outfitters. Based on the tabulation of the shareholder vote, the board of directors for Saks stated that approximately 99.4% of the total votes cast, which represents approximately 85.2% of the total shares outstanding as of the October 2, were voted in favor of the merger. Shareholders will receive $16 per share in cash at the closing of the transaction, which is expected to be on November 4; Saks will then become a private company and be delisted from the NYSE.

Charles & Colvard Partners With Kohl's

Charles & Colvard Ltd. broadened the availability of its branded ''The World’s Most Brilliant Gem&reg;'' through a distribution agreement with Kohl’s Department Stores. The ''Forever Brilliant&reg;,'' finer-grade of moissanite, is now available at Kohl’s online in 14-karat gold designs of jewelry, including studs, pendants, earrings and necklaces. The partnership was designed to offer Kohl’s customers an alternative gemstone for Christmas season.

JCP Partners with Shopkick

J. C. Penney Company Inc. partnered with shopkick, a shopping app that rewards shoppers for simply walking into stores. The deal was timed for the key Christmas retail season so that JCPenney shoppers will be able to earn "kicks(TM)," a proprietary reward currency, along with special offers from the retailer when visiting any of its 1,100 store locations in the U.S. According to shopkick, other major participating retailers include Target and Macy's, along with Simon Malls and electronics stores and gas stations.

De Beers Opens in Vancouver

De Beers Diamond Jewellers opened its flagship store in Canada, featuring 1,636 square feet of retail space on Alberni Street in Vancouver, British Columbia. The store's design reflects De Beers signature concept of glass and light to maximize the brilliance of diamond jewelry. De Beers has flagship locations in London, New York, Paris, Beijing, Shanghai, Hong Kong and Tokyo.

Additionally, De Beers debuted its "For You, Forever," in-store diamond engagement ring service at all locations to help shoppers design their own engagement ring. The service guides them through selecting a setting and diamond and provides various views of the finished product using an iPad.
Busiest Shopping Days

ShopperTrak expects four of the top 10 busiest Christmas-shopping days this year will fall between December 20 and 24 and it advises retailers to prepare accordingly. ShopperTrak expects U.S. consumers will make slightly fewer store visits in November and December this year, but total sales could increase 2.4%. The top shopping day will be November 29, or Black Friday, followed by the dates of December 21, 22 and 20, according to the firm. Other top shopping dates include December 14, 23, 26 and November 30.


Rowley to Succeed Shine at De Beers

Varda Shine, the De Beers executive vice president of global sightholder sales, will be leaving the company at the end of January. De Beers appointed Paul Rowley (pictured) to succeed her. Shine will also step down as chairperson of the DTC Botswana board and deputy chairperson of the Namibia DTC board, with successors to be announced in due course, according to the firm. Rowley is currently the senior vice president of midstream operations for global sightholder sales. De Beers described him as one with a wealth of experience, having joined De Beers in 1983 and after filling a variety of senior positions in the organization. He has served on both the DTC Botswana and Namibia DTC boards and was acting CEO of DTC Botswana prior to his current role.

Spring to Head Bloomingdale's

Macy's Inc. appointed Tony Spring to replace Bloomingdale's chairman and CEO, Michael Gould, on February 1, 2014. Spring, 48, is currently Bloomingdale's president and chief operating officer and his successor will be named at a later date. Gould, 70, joined Bloomingdale's as chairman and CEO in 1991. Previously, he was president and CEO of Giorgio Beverly Hills, a position he had held since 1987.

U.S., India Award Trademarks

The U.S. Patent & Trademark Office (USPTO) awarded the trademark term ''Fancy A Diamond?'' to Penta Diamonds Ltd. of Israel with the registration number 4420932 and the trademark term ''The Name That Changed Diamonds Forever'' to Jean Paul Tolkowsky of Belgium with the registration number 4420890 on October 22.

In India, the Office of The Trade Marks Registry approved ''CANADIANFIRE'' for Ankit Gems of Mumbai, with the trademark number 1938222 and ''Diamonds of the Tsars'' for Faberge Ltd. of George Town, Cayman Islands with the trademark number 1617281 on October 7.

DGSE Settles Class Action Suit

The United States District Court for the Northern District of Texas approved the proposed class action settlement between DGSE Companies Inc. and some of its shareholders. The measure was largely expected and it ends the derivative litigation related to DGSE's previously disclosed accounting irregularities and subsequent restatement of financial results. DGSE agreed to pay $2 million plus attorneys' fees to resolve the class action claims.

Verify Marketing Value From Facebook

Nate Elliott, the principal analyst at Forrester, addressed a note to ''Mr. Zuckerberg,'' or Mark Zuckerberg, the CEO of Facebook Inc., explaining that the popular social media website is failing its advertisers. Forrester's marketing research report titled ''Why Facebook Is Failing Marketers,'' which retails for $499, reportedly delves into why 395 marketers and ebusiness executives from the U.S., Canada and the U.K. concluded that Facebook offers less business value than any other digital marketing channel.

However, Yahoo! Inc.'s Daily Ticker Show reported from the report that only a small difference existed across a scale of 1 to 5, between the six major marketing channels with Google the best at 3.84, LinkedIn at 3.81, Yahoo! at 3.54, Facebook at 3.52, Twitter at 3.48 and MSN at 3.28. Nonetheless, Elliott explained that Facebook fails to drive genuine engagement between companies and their customers, it teases marketers with promises that it doesn't deliver and only a small percentage of brands' posts make fans' feed.

Facebook scoffed at the report calling it illogical and irresponsible.
Traders Face Smuggling Charges

Shenzhen customs officials reportedly seized diamonds worth $49 million and arrested 19 diamantaires from Surat and Mumbai, charging the traders with smuggling. In 2010, 21 Indian diamantaires were also arrested on similar charges, subsequently 12 diamantaires were released. The current operation was allegedly conducted in September and did not involve any members of the Shanghai Diamond Exchange (SDE), according to Chinese media reports.



ALROSA raised about $1.3 billion (RUB 41.3 billion) during its public offering on Monday as shares opened at RUB 35, or $1.10 per share, on Moscow’s MICEX Stock Exchange. The share price, which was at the lower end of estimates, implied a market capitalization of $8.12 billion. Following the offering, Russia now owns 43.9% of ALROSA, Yakutia Republic owns 25% and the Yakutia municipalities hold an 8% share.

ALROSA is the largest diamond mining company by volume production and reported that revenue rose 7% year on year to $2.55 billion in the first half of 2013, but profit fell 10% to $453 million. Based upon Russian Accounting Standards, ALROSA updated its nine month profit to $713 million, an increase of 2.8%, and reported a revenue increase of 10.4% to $3.13 billion.

Catoca to Mine in Zim

Angola's Catoca will begin diamond exploration in two Zimbabwe fields in 2014, as per an agreement signed by the two countries. Angola agreed to provide research, exploration, technical and technological support to Zimbabwe and the agreement could also pave the way to explore other minerals as well.
North Arrow Completes Summer Phase

North Arrow Minerals Inc. completed the latest phase of exploration work on its 11,500-hector Redemption diamond project in the Northwest Territories of Canada. North Arrow Minerals conducted an airborne gravity gradiometry (AGG) survey, bathymetric surveys and till sampling. Final processed data for the AGG survey were received in early September and preliminary interpretation identified a number of priority gravity anomalies that were well located with respect to the up ice extent of the South Coppermine kimberlite indicator mineral train. Modeling work is ongoing, however, 32 targets have already been identified to date.

Diamond Industry Stock Report

U.S. shares were mostly higher except for Birks (-5%), Charles & Colvard (-22%), Signet (-1%) and Sotheby's (-2%). Kering (-3%) led European declines, Goenka (-5%) and Titan (+10%) marked the spread in India, while mining companies were volatile with Firestone (+30%) and Rockwell (-22%) swinging to extremes. View the extended stock report.

Oct. 31 Oct. 24 Chng.
$1 = Euro 0.740 0.720 0.020
$1 = Rupee 61.60 61.45 0.1
$1 = Israel Shekel 3.53 3.52 0.01
$1 = Rand 10.04 9.76 0.28
$1 = Canadian Dollar 1.04 1.04 0.00

Precious Metals
Gold $1,325.20 $1,347.30 -$22.10
Platinum $1,449.00 $1,448.00 $1.00

Stock Indexes Chng.
BSE 21,164.52 20,725.43 439.09 2.1%
Dow Jones 15,545.75 15,509.21 36.54 0.2%
FTSE 6,731.43 6,713.18 18.25 0.3%
Hang Seng 23,206.37 22,835.82 370.55 1.6%
S&P 500 1,756.54 1,752.07 4.47 0.3%
Yahoo! Jewelry 995.66 988.70 6.96 0.7%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Nov. 8, 2013

U.S. trading extremely price point conscious with strong demand for commercial qualities. Polished markets cautious as RapNet Diamond Index (RAPI) for 1 ct. -1.8% in Oct. New York/Israel Diamond Week attracts many sellers. Indian market closed for Diwali with reports of weak gold and diamond jewelry retail sales. Rough prices expected to fall. Berkshire Hathaway 3Q jewelry, furnishings revenue +18% to $944M, operating earnings +33% to $48M. Shrenuj & Co. 2Q sales +41% to $188M, profit +32% to $4M. Sarin 3Q revenue +48% to $17M, profit +22% to $3M. Trans Hex 1H sales -21% to $25M, loss of $5M. Botswana takes over diamond business from De Beers as sightholders converge on Gaborone.

RapNet Data: Nov. 7

Diamonds 1,047,650
Value $6,843,089,984
Carats 1,179,390
Average Discount -27.98%
Get Current Price List | Subscribe to Rapaport | Join RapNet

Rapaport Jewelry Sale
New York

Rapaport Single Stone Auction
New York & Israel
View details.
We believe that through branding, Shrenuj & Company has been able to not only insulate the consumer from price volatility but also drive them towards perceiving jewelry as a style statement and lifestyle product, without denying the inherent value of gold, silver or diamonds as assets. We also believe that many markets remain underexposed to branded jewelry products and we have potential to extend our footprint into these markets.

Shreyas K. Doshi | Shrenuj & Company

The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.

Polished Diamond Prices Drop

The RapNet Diamond Index (RAPI™) for 1-carat certified diamonds fell 1.7% in October. RAPI for 0.30-carat diamonds rose 0.4%, while RAPI for 0.50-carat diamonds increased 0.2% but RAPI for 3-carat diamonds declined 0.7%.

Polished prices softened due to weak global demand and tight market liquidity. U.S. retail buyers are delaying inventory purchases for the Christmas season amid persistent price uncertainty and diminished consumer confidence. Indian diamond traders faced uncertainty prior to the Diwali festival that began on November 1 amid unconfirmed reports that the government may raise the import duty on polished diamonds from 2% to 5%. Initial reports about Diwali signal a slump in gold and diamond jewelry demand.

Liquidity in India’s manufacturing sector is tight due to low profit margins and high rough prices with weaker domestic demand throughout 2013. Rough diamond trading on the secondary market remains quiet with most De Beers boxes selling for discounts or with long-term credit. Polished diamond trading is expected to improve before the end of the year influenced by a late surge in U.S. Christmas demand and strong, selective competition to source the right “in-demand” goods. Forecasts for the season remain below that of previous years.

Shrenuj & Co.'s Profit +33%

Shrenuj & Company Limited reported that revenue rose 40% year on year to $350 million for the first fiscal half that ended on September 30. Profit jumped nearly 33% to $6.8 million. The company's second quarter revenue surged 41% to $188 million and profit increased 32% to $4.1 million. Shrenuj & Company explained that revenue grew during the first six months of the fiscal year despite a fairly challenging market and a highly volatile currency rate as the rupee fell to historically low levels against the dollar.

In the first half, the company registered its highest productivity level in the diamonds and jewelry units along with increased throughput and highly improved operational efficiencies, it stated.

Berkshire's Profit +29%

Berkshire Hathaway Inc. reported that revenue improved 13.4% year on year to $46.541 billion for the third quarter that ended on September 30. Costs and expenses rose 11.5% to $39.163 billion. Earnings jumped 28.9% to $5.053 billion. Without providing hard totals, Berkshire's retailing segment experienced stronger performance, primarily the result of having included revenue and earnings from the Oriental Trading Company, which Berkshire acquired in November 2012, and improved comparative results from the home furnishings and jewelry business groups, according to the company.

Berkshire operates four home furnishings businesses (Nebraska Furniture Mart, R.C. Willey, Star Furniture and Jordan’s), three jewelry businesses (Borsheims, Helzberg Diamonds and Ben Bridge Jewelers), See’s Candies, Pampered Chef and Oriental Trading Company. Retail segment revenue increased 18.1% year on year to $944 million and operating earnings rose 33.3% to $48 million.

Michael Kors' Profit +49%

Michael Kors reported that revenue from retail and licensing operations surged 38.9% year on year to $740.3 million for the second quarter that ended on September 28. Comparable-store sales increased 23%. Income skyrocketed 49% to $145.8 million. By region, revenue across North America jumped 31% to $618.3 million, while sales in Europe more than doubled to $114.1 million. Revenue from other regions increased 64% to nearly $8 million. Retail segment sales rose 47% to $355.6 million, wholesale revenue was up 30% to $351.9 million and licensing revenue improved 65% to $32.9 million.

Charles & Colvard Reports a Loss

Charles & Colvard Ltd. reported that revenue rose 35% year on year to $6.858 million for the third quarter that ended on September 30. However, costs and expenses surged 60.8% to $7.985 million and the company recorded a loss of $1.21 million compared with a profit of $123,625 one year ago.

Nonetheless, Charles & Colvard had no outstanding debt as of September 30 and cash and liquid investments totaled $6.7 million compared with $12.4 million on December 31, 2012. Inventory, including long-term and consigned inventory, was $40.4 million at the close of the quarter, compared with approximately $32.8 million at the end of 2012.

U.S. Chain-Store Sales +4%

U.S. chain-store sales rose 4.1% year on year in October, according to the International Council of Shopping Centers (ICSC). The increase was preliminary and excluded the Gap stores. ICSC determined that U.S. retail trends seemed to be getting back on track. The November sales outlook is higher, given easy comparisons (sales fell in November 2012) and one extra shopping day as many big box retailers will open on Thanksgiving Day. ICSC expects November sales to improve 3.5% to 4.5%.

Kingold to Build Jewelry Park

Kingold Jewelry Inc. acquired the operating rights for 66,666 square meters (717,587 square feet) of industrial land to develop the Wuhan Kingold Jewelry International Industry Park in the Jiangan district of China for $164 million. Kingold expects construction to be completed by mid-2015 and the entrance to the sprawling facility will be at No. 12 Han Huang Road, Jiang'An District, Wuhan, a premier section on the north shore of the Yangtze River.

The Wuhan Kingold Jewelry International Industry Park is intended to provide 2.07 million square feet of floor space where businesses and trading activity can mingle with manufacturing, wholesale, and retail shopping. Kingold will relocate part of its production facility to this industrial park.

Pandora Moves Outlook Higher

Pandora continues to bring in new designs and move inventory quickly, which the retailer cited as the reason to increase fiscal year guidance. This week it added the Essence Collection, marking the eighth new jewelry series launched this year. Pandora stated that revenue continues to improve in all regions as new collections increase store sales, and it now anticipates fiscal year sales of about $1.6 billion, up from the previous estimate of $1.4 billion. Pandora reported revenue of $1.2 billion in 2012 and profit of $211 million.

De Beers Adds Third Store in Hong Kong

De Beers Diamond opened its third Hong Kong store, this one located in Times Square in Hong Kong's Causeway Bay district. Hong Kong is a key market for De Beers. The store, which is equipped with De Beers Iris technology, will debut four new designs from the Imaginary Nature collection, including a pendant, a pair of earrings, a ring and a statement necklace. Three high-end jewelry pieces will also be exhibited exclusively at the Times Square store during November.

Gitanjali Opens 103rd Store

Gitanjali Jewels opened in Gaya, 100 kilometers south of Patna, marking the company's 103rd location. The new store was designed with a strong focus on Indian ethos and aesthetics, according to the group. The retailer prepared grand opening special offers for diamond jewelry and on making charges for gold jewelry. Gitanjali Jewels sells jewelry under the Asmi, Nakshatra, D’damas, Gili, Diya, Parineeta, Sangini, Nizam, Ananya & Gitanjali gold brand names.

Appeal for Diamonds Improves

ASSOCHAM reported an emerging appeal for diamonds and platinum across India's urban cities early on in the Diwali festival. The group's survey of jewelers noted that 76% were focusing their marketing efforts on platinum and diamonds this year for the festive occasions rather than traditional gold and silver jewelry. According to ASSOCHAM, the share of platinum and diamond jewelry is likely to capture as much as 35% of the current gold jewelry market share by 2015.


USPTO Assigns Trademarks

The U.S. Patent & Trademark Office (USPTO) assigned the trademark term ''A Forever Moment Deserves a Forever Symbol'' to the Merit Diamond Corporation of Florida on October 29 with the registration number 4426763. The USPTO also approved the trademark ''Leo Hamel Fine Jewelers & Jewelry Buyers'' for Leo Hamel Fine Jewelers Inc. of San Diego, California on October 29 with the registration number 4424825.

FinCEN Encourages Info Sharing

The Financial Crimes Enforcement Network (FinCEN) created a fact sheet on section 314(b) of the USA PATRIOT Act that provides financial institutions, including those dealing in precious metals and gems, the ability to share information with one another. The guides fall under a safe harbor that offers protection from liability in order to better identify and report potential money laundering or terrorist activities. The fact sheet in PDF is available here.

UN Praises M23 Peace Deal

The United Nations (UN) special envoy for Africa’s Great Lakes region welcomed an announcement by the M23 rebel group that it is ending the insurgency against the diamond-rich Democratic Republic of the Congo (DRC). The agreement reestablishes state authority in areas previously held by the M23. The envoy also welcomed the commitment of the DRC's government to end combat and complete steps agreed to as part of the Kampala Dialogue.

Nonetheless, UN officials deplored the activities of other armed groups in the region, including Mayi Mayi, the FDLR, the National Army for the Liberation of Uganda (NALU) and the Allied Democratic Forces (ADF).

UBM Holds Gems Fair in Kolkata

UBM India is organizing its first Kolkata Jewellery & Gem Fair, a three-day business-to-business industry trade fair scheduled for January 11 to 13. Organizers anticipate approximately 6,000 buyers and attendees and 160 exhibitors, including loose diamond and gold jewelry dealers. The fair will be held at the Milan Mela Exhibition Complex at Science City, Kolkata and serve as a platform for domestic and international exhibitors to showcase signature designs and products in this eastern city.


Trans Hex Reports a Loss

Trans Hex reported a loss of $5.3 million for the six months that ended on September 30, compared with a profit of $3.2 million one year ago. Sales from the group's South African operations fell 21% year on year to $25.5 million, as production levels dropped and fewer special-size (large) stones were recovered. Diamonds sold during the period achieved an average price of $1,028 per carat, 14% lower compared to the same period in 2012.

Paragon Secures New License

Paragon Diamonds was issued a prospecting license that is valid through September 2016 for a 442-square-kilometer area in the Kgalagadi District of southern Botswana. The license may be renewed twice for two year periods provided that 50% of the area is relinquished at each renewal, giving a total validity of seven years. The licensed area is on the northern flank of the Tsabong kimberlite field, with the closest kimberlite pipe approximately 8 kilometers south.

Rio Tinto Concludes Tender

Rio Tinto held a “specials” diamond tender, which offered fine, large rough diamonds from its three operating diamond mines. The tender featured sizes greater than 10.8 carats, included 104 parcels of diamonds and highlighted strong demand for large fancy cognac diamonds. The most valuable diamond was a 74 carat diamond from the Murowa mine in Zimbabwe. The mining company didn't provide price information.

Debswana to Review Cut-9 Extension

Operators of the Jwaneng mine are seeking approval for a new project, known as Cut-9, to place before Debswana's board next year. Cut-9 is estimated to involve moving 1 billion tonnes of ore and take the mine to a depth of 850 meters. In 2010, Debswana began work on Cut-8, a major extension project intended to stretch Jwaneng's life into 2025. Debswana invested $3 billion in the project, which is expected to yield 100 million carats worth $15 billion over the life of the mine.


Diamond Industry Stock Report

Birks (+24%) led gainers but overall U.S. shares were mostly lower and European shares were mainly flat. Indian shares mixed with Goenka (-25%) and Vaibhav (+13%) defining the spread. ALROSA was flat one week after debut, Peregrine (-12%) and Firestone (-17%) led losses, while Rockwell (+16%) and Gemfields (+12%) extended their gains in mining shares. View the extended stock report.

Nov. 7 Oct. 31 Chng.
$1 = Euro 0.746 0.740 0.006
$1 = Rupee 62.87 61.60 1.3
$1 = Israel Shekel 3.54 3.53 0.01
$1 = Rand 10.30 10.04 0.26
$1 = Canadian Dollar 1.05 1.04 0.01

Precious Metals
Gold $1,307.60 $1,325.20 -$17.60
Platinum $1,448.00 $1,449.00 -$1.00

Stock Indexes Chng.
BSE 20,822.77 21,164.52 -341.75 -1.6%
Dow Jones 15,593.98 15,545.75 48.23 0.3%
FTSE 6,697.22 6,731.43 -34.21 -0.5%
Hang Seng 22,881.03 23,206.37 -325.34 -1.4%
S&P 500 1,747.14 1,756.54 -9.40 -0.5%
Yahoo! Jewelry 974.02 995.66 -21.64 -2.2%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Nov. 15, 2013

Indian Diwali retail sales below expectations. NY/Israel diamond week attracts over 1,000 dealers and improves market sentiment. De Beers reduces prices 3-5% at inaugural Botswana sight. Exelco sells Botswana factory to Signet Jewelers. EFD drops non-profitable sightholder status. Improved demand for Russian rough below 1.5ct. Gokhran plans to buy $107M rough through auctions. Sotheby’s Geneva sells $199.5M (92% by lot) with oval, 59.6ct., fancy vivid pink, IF diamond sold to Isaac Wolf for $83M ($1.4M/ct.). Christie’s Geneva sells $125M (89% by lot) with pear, 14.82ct., fancy vivid orange, VS1 diamond sold for $36M ($2.4M/ct.).

RapNet Data: Nov. 14

Diamonds 1,057,728
Value $6,903,058,717
Carats 1,191,636
Average Discount -27.93%

Get Current Price List | Subscribe to Rapaport | Join RapNet


Rapaport Jewelry Sale

New York
Rapaport Single Stone Auction
New York & Israel
View details.

The Pink Star (renamed the Pink Dream) is a true masterpiece of nature. Its immense importance was reflected in Geneva in the strength of the bidding and we are thrilled that the record price it achieved ($83,187,381) earned it a place in history. The record sale total ($199,512,930) is a further testimony to the strength and depth of the diamond and jewelry market.

David Bennet | Sotheby's Europe


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.

New York Bustles With Activity

Geneva was not the only hotbed of activity this week as New York hosted its second Israel Diamond Week at the Diamond Dealers Club. The four-day event attracted 200 exhibitors and nearly 1,000 suppliers, buyers and a handful of retailers combined, creating an exuberant level of energy on the Club's trading floor. Overall, business was ''ok'' with nearly all suppliers who spoke with Rapaport News agreeing that establishing networking connections for future sales made attendance worthwhile, even if actual receipts were less than expected or hoped. Others observed a business environment that is extremely price conscious at the moment; many buyers were just ''shopping'' and there were no impulse purchases, according to sellers.

Buyers frequently mentioned that prices were still too high and that sellers were holding firm. Israeli dealers expected more retailers at the event, and traders from both bourses surmised that sales may have been stronger if this event had been held in early October when retailers were in the midst of planning Christmas inventory.

Specific demand for diamonds during Israel Diamond Week primarily centered on 0.50-carat sizes and 1.00-carat to 1.50-carat in I-J colors. There was good but selective demand for rounds in the 1.50-carat to 2.00-carat sizes, if the price was right. Requests for larger sizes (above 5.00 carats) were spotty; however, some sales were made of stones above 10 carats. Exhibitors presented a large assortment of fancies, but demand was rather mixed with smaller sizes doing better, especially in pears, while larger goods were overlooked; and colored stones, primarily pinks and blues, sold very well under the carat. Yellow fancies were in fair demand and in very good supply.

Gaborone Concludes Its First De Beers Sight

De Beers Group of Companies celebrated the start of its rough diamond sales in Gaborone, Botswana this week, marking the end of a two-year long relocation program from London. The company reduced prices for goods between 3% and 5%. De Beers stated that 200 representatives attended the sight in its new $35 million state-of-the-art facility. De Beers relocation is expected to serve as a catalyst for economic growth across southern Africa, with the region now the world’s primary source of rough diamonds sales, creating further employment opportunities in ancillary services such as banking, security, IT and supply chain management. De Beers has sourced furniture, equipment and other products and services from local companies, providing immediate economic benefit to domestic suppliers.

One in Five to Buy Jewelry or Precious Metals Gift

According to the National Retail Federation (NRF), 23.3% of U.S. shoppers who buy gifts for Christmas plan to purchase jewelry or a precious metals accessory. The percent of would-be jewelry buyers was highest (33.3%) for the age group of 18 to 24 and lowest (15.9%) for those older than 65. In recent years, 22.5% chose jewelry as a gift they planned to purchase in 2012, while 21.2% chose jewelry in 2011 and 20.3% chose the item in 2010.

In terms of product categories that compete with jewelry, 60.7% of shoppers plan to buy clothing as gift, followed by gift cards (59.2%), books/DVDs (48.8%), toys (44.3%), electronics (33%), food/candy (32.7%) and personal care items (25.4%). The NRF observed that more than half of consumers have begun gift shopping already, but that the consumer wallet has turned tighter and therefore shoppers expect to spend slightly less this year on gifts.

Meanwhile, the International Council of Shopping Centers (ICSC) determined that 7.1% of consumers would purchase jewelry for the Christmas season. Pearls, sparkly watches, boxed jewelry sets and wearable technology ranked high as gift items and Michael Kors, Pandora and Alex & Ani were the ''jewelry brands to watch'' based on consumer intentions to spend with those retailers.

Pink Diamond Sets Records for Sotheby's

Sotheby's autumn sale of magnificent jewels in Geneva set a world record for the Pink Star, renamed the Pink Dream, a 59.60-carat, internally flawless fancy vivid pink, type IIa diamond that sold for $83,187,381, or $1,395,761 per carat, to diamond-cutter Isaac Wolf. Sotheby's auction achieved the highest jewelry sale in history at $199,512,930 against a presale estimate of $112.5 million to $153 million and was 92% sold by lot. The Walska Briolette Diamond brooch by Van Cleef & Arpels, featuring a 96.62-carat yellow diamond, sold for $10,555,778, a record for any jewel by the famed brand. A set of earrings (23.77-carat and 23.78-carat) sold for $9,213,009 and a 5.04-carat mixed-cut fancy vivid blue diamond ring sold for $6,649,541, rounding out the top five diamonds.

Christie's Orange Sells for Record Price

Christie's Geneva autumn sale of magnificent jewels totaled $125,360,131, against a presale estimate of $70 million to $80 million, and was 89% sold by lot. The top lot was ''The Orange,'' an extremely rare, 14.82-carat, VS1, fancy vivid orange, pear-shaped diamond which sold for $35,540,611 or $2,398,151 per carat, setting a world record price per carat for any colored diamond at auction and the world auction record for a fancy vivid orange diamond. Overall, 22 lots achieved over $1 million, including the Pati&ntilde;o emerald and diamond necklace by Cartier that fetched $9.9 million, a seven-strand natural pearl necklace which sold for $9 million (CHF.8.3 million) and a 58.29-carat cushion-shaped sapphire mounted in a multi-gem Côte d’Azur brooch designed by Anna Hu that sold for $4.5 million.
U.S. Jewelry Sales +5%

Jewelry sales in the U.S. during September rose 5.3% year on year, according to preliminary government figures, maintaining an annual, running total of about $69.6 billion. Sales of watches increased 5.9%, representing an annual total of about $9.3 billion. Meanwhile, the U.S. consumer price index (CPI) for jewelry rose 0.2% year on year in September to 181.01 points. Comparatively, and across all consumer product categories, real personal consumption increased 2.7% in September and the CPI for all product categories combined increased 1.2% year on year.

U.S. jewelry store sales growth has performed slightly better than overall jewelry sales in recent months. As reported earlier on Rapaport News the latest data on jewelry store sales, which was collected for August, increased 6.9% year on year to $2.389 billion and store sales for the first eight months of 2013 rose 9.2% to $19.652 billion.

Richemont's Profit +10%

Richemont reported that profit grew 10% to $1.59 billion (EUR 1.19 billion) during the six months that ended on September 30, while revenue increase 4% at actual exchange-rates and by 9% at constant exchange-rates to $7.12 billion. Jewelry sales rose 2% year on year to $3.57 billion, with solid performance from Cartier and Van Cleef & Arpels. Demand for Cartier’s watch collections was broadly in line with the prior year at constant exchange-rates, according to the company. Specialist watchmaker sales rose 9% to $2.12 million. By region, sales rose 10% in Europe, 4% in the Asia Pacific region and 17% in the Americas.

Birks' Loss Grows to $8M

Birks Group Inc. reported that sales climbed 2.2% year on year to $57.3 million for the second quarter that ended on September 28. Same-store sales rose 11%. Inventory rose 2.8% year on year to $158.2 million. Revenue for the first half increased 2% to $127.41 million and cost of sales jumped 6% to $75.25 million. Gross margin fell to 40.9% of sales from 43.2% of sales in 2012. Birks reported a loss of $7.74 million, up from a loss of $5.69 million one year ago.

Birks Group initially announced its plans this past month to open a Maison Birks mono-brand store in the Xanadu Plaza in Beijing, but it told shareholders today that it will be actively reviewing alternative locations in either Beijing or Shanghai in order to open a Maison Birks in China during the 2014 calendar year.

Pandora's Profit +61%

Pandora's revenue improved 25.7% year on year to $406 million (DKK 2.255 billion) for the third quarter that ended on September 30. Profit surged 61% to $110 million, gross margin rose to 66.2% compared with 64.1% one year earlier. Pandora dramatically improved free cash flow to $65 million compared with a deficit of DKK 88 million. The jeweler reduced inventory by 16.6% to $289 million. While strong all around, the level of growth was uneven across Pandora's geographies with sales increasing only 7.6% year on year to $178 million in the Americas, but they skyrocketed 46.5% to $185 million in Europe and gained 37.7% in Asia-Pacific at $43 million.

Online Jewelry Sales Rise

U.S. ecommerce retail sales rose 13% year on year to $47.49 billion for the third quarter that ended on September 30, according to comScore Inc. In addition, retail spending from smartphones and tablets, which comScore defined as m-commerce, added $5.8 billion for the quarter, up 26% year-on-year, for a total digital commerce spending total of $53.2 billion in period.

Online product categories that performed best in the third quarter, all of which improved at least 14% from one year ago, included the jewelry and watch category as well as digital content and subscriptions, apparel and accessories, consumer packaged goods and consumer electronics. Ecommerce accounted for 9.4% of consumers’ discretionary spending in the quarter, the highest share on record, according to comScore.

Sotheby's Narrows 3Q Loss

Sotheby's revenue rose 57.6% year on year to $107.86 million in the third quarter that ended on September 30. Operating expenses increased 33.7% to $142.23 million. The auction house recorded a net loss of $30.13 million compared with a loss of $32.57 million one year ago. Due to the seasonal nature of the art auction market, Sotheby's third quarter financial results have historically reflected a loss. During the period, Sotheby's experienced a sizable revenue increase from private sale commissions, but this was partially offset by higher operating expenses, according to the firm.

Luk Fook Acquires Stake in CGS

Luk Fook Holdings signed a memorandum of understanding with Hong Kong Resources Holdings (HKRH) to buy a 50% stake in its fully owned subsidiary, China Gold Silver Group (CGS), for $38.8 million (HKD 301 million). The acquisition would increase Luk Fook's jewelry store network by 400 stores, while CGS would benefit from the company's assistance in developing its 3D Gold brand. Luk Fook had 1,188 points of sale as of September 30.

Van Cleef & Arpels, Cartier Open in NY

Van Cleef & Arpels and Cartier boutiques opened at the Americana Manhasset Mall on Long Island, New York in time for the Christmas season. IBEX Construction custom-built and Callison designed the two new jewelry boutiques. Van Cleef & Arpels opened recently as part of the London Jewelers collection of stores at the mall -- a newly developed concept that allows each store to be an individual property from the outside, while allowing customers to move freely from one to the next.

The new Cartier boutique created a warm, inviting space with exotic woods, built-in display cases, general cove lighting and a grand chandelier. In 2012, IBEX built a 4,500-square-foot TWO by London store, the London Jewelers’ engagement shop at the Americana Mall and the brainchild of Scott Udell, of London Jewelers. TWO by London is first of its kind in the U.S., providing a new, unique way to shop for engagement rings, wedding bands and wedding day jewelry. IBEX is now building the new David Yurman location at the mall

Signet Acquires Polishing Factory

Signet Jewelers Ltd. acquired a diamond polishing factory in Gaborone, Botswana from H&A Cutting Works (Botswana) (Proprietary) Ltd., a subsidiary of Exelco International Limited. Financial terms of the deal had not been disclosed. With this acquisition, Signet secured additional, reliable and consistent supply of diamonds and achieves operating efficiency. Diamonds and diamond jewelry account for more than 75% of Signet's sales in the U.S.

Rio Tinto Expands Fashion Diamonds Promo

Rio Tinto launched "The Fashion of Diamonds" marketing initiative in Shanghai, China, which consists of 13 jewelry collections comprised of more than 90 pieces of diamond jewelry. The jewelry line incorporates diamonds from Rio Tinto's Argyle mine in Australia and was designed by five Chinese designers who collaborated with the company to create the collection based on market research. Rio Tinto Diamonds launched its China strategy in 2010 at the Shanghai World Expo. Since then, the company has focused on developing trade and retail partners in the diamond fashion jewelry market in China.

De Beers Testing Melee Screening Equipment

De Beers Group reminded sightholders this week that a consumer’s desire for diamonds is the only source of value for the diamond and jewelry industry. Therefore, De Beers view of synthetic diamonds remains as always -- it is possible that appropriately disclosed synthetics can find a happy and legitimate place in the diamond and jewelry industry, primarily in the low-value, under $200 market; however, passing off a synthetic stone as a natural diamond threatens consumers’ confidence in diamonds and the practice is unethical and fraudulent.

While De Beers stated that undisclosed trading of synthetic diamonds is confined to a very small portion of the global industry, due to heightened concerns across the trade recently, the company developed a guide ''Undisclosed Synthetics Booklet.'' De Beers already has the technology to detect all synthetics, but it is testing a new Automated Melee Screening (AMS) machine that it expects to roll-out in the first half of 2014; meanwhile, sightholders can test samples of melee parcels with DiamondSure to reduce the risk of purchasing undisclosed synthetics, according to the firm.

De Beers best practice principles (BPPs) prohibit the sale of undisclosed synthetics and vowed work with industry bodies to identify those operating without disclosure. Test all diamonds and should undisclosed synthetics appear, De Beers warned firms to take immediate action, report to relevant organizations, including bourses, trade associations and potentially law enforcement agencies. De Beers sightholders are contractually obligated not to sell undisclosed synthetics and doing so is a material breach of the BPPs and places the contract at great risk. Ignorance is no excuse.

DMIA Calls for Meeting on Synthetics

The Diamond Manufacturers & Importers Association of America (DMIA) issued a statement saying that it is imperative for the industry to respond immediately and forcefully to the undisclosed synthetic drama. The group stated that one of the major problems in attacking this issue is the lack of cohesion from stakeholders, all of whom are rightfully very concerned. DMIA called upon on the international and domestic leaders from the industry, law enforcement and laboratories to physically gather in New York as soon as possible to finalize the best approach. DMIA called players together in May 2012, saying at that time that inaction on undisclosed synthetics was unacceptable and demanded an industry commitment to criminally prosecution those who violate ethical procedures.

GJEPC Addresses Synthetic Concerns

India's Gem & Jewellery Export Promotion Council (GJEPC) took steps to address concerns about synthetic diamonds being mixed with natural stones. The GJEPC and Bharat Diamond Bourse (BDB) immediately attended to recent cases and initiated an investigation on behalf of two diamond brands. GJEPC formed a Natural Diamond Monitoring committee along with BDB and others to protect the interests of the natural diamond industry, vowed to enhance consumer confidence through proper disclosures, segregate naturals from synthetics and define policies to avoid misrepresentation. GJEPC hired A. T. Kearney and Bonas & Co. to help establish a trading framework and will set up a Diamonds Quick Detection and Resource Centre at BDB within the next month.
WDC Amends Bylaws

The World Diamond Council (WDC) approved amendments to its bylaws, as well as a code of conduct that lists core values according to which members are guided. A steering committee, which was established by the WDC's board in July 2012, will examine the restructuring of the WDC in terms of membership, financing and administration, so as to upgrade the functioning and efficiency of the organization in its second decade of operation.

New bylaw requirements direct the board to represent the geographical diversity of the entire diamond supply chain; all WDC members will pay annual dues with a fee structure that is formulated by the organization's finance committee; limit a single two-year term for the WDC president, following which he or she will be succeeded by the sitting vice president. The president and vice president will be elected by the new board of directors, for which elections are scheduled at the end of 2013.

Chandler Joins Gemvara

Gemvara named Susan Chandler as its new chief merchandising officer. Chandler has more than 20 years of experience working with luxury goods, fine jewelry and fashion jewelry, and most recently served as the senior vice president and general merchandise manager at David Yurman. At Gemvara, Chandler will be responsible for developing and implementing a merchandising strategy for growth, direct design, curate merchandise and oversee the entire product assortment.

Floyd Joins JTV

Jewelry Television (JTV) signed veteran jewelry host Libby Floyd as an on-air shopping personality. Floyd brings more than 15 years of experience to the network, has contributed to USA Today as a jewelry expert, and worked at ShopNBC, USN and The Shopping Channel, according to her LinkedIn profile. She earned the Accredited Jewelry Professional (AJP) designation from the Gemological Institute of America (GIA) and graduated from the University of South Carolina where she received the Alumni of the Year Award in 2007 for her accomplishments in television. JTV is privately-held company and broadcasts high definition programs 24 hours a day to more than 80 million unique households in the U.S.

Moses, Tannenbaum Join GIA Board

The Gemological Institute of America's (GIA) board of governors inducted Thomas M. Moses, who was also named executive vice president and chief laboratory and research officer for GIA, and Elliot Tannenbaum, senior principal of Leo Schachter Diamond Group (LS Group), during the board’s November 2013 meeting in Carlsbad, California. Moses and Tannenbaum join 16 other governors in directing the strategy of the Institute and serving as stewards of the public interest.


Petra's Revenue +27%

Petra Diamonds' revenue rose 27% year on year to $65.1 million during the company's first quarter that ended on September 30, as higher production compensated for weaker rough diamond prices. The company sold 588,233 carats for an average price of $110 per carat, down 31% from one year earlier. Production rose 25% to 816,735 carats during the first quarter, despite challenging labor conditions following industrial action at its South Africa mines.

Petra reported that its cash balance grew to $55.3 million as of September 30, compared with $26.2 million at the start of the quarter. Outstanding debt dropped to $2.1 million from $74.8 million. The company’s inventory increased to 483,557 carats valued at $43.2 million, compared with 348,403 carats worth $31.5 million on June 30.

Lucara Returns a Profit

Lucara Diamond Corporation's revenue more than tripled to $42.1 million in the third quarter that ended on September 30. The company held two sales during the ‎period, achieving an average price of $625 per carat. Lucara posted a profit of $15 million compared with a loss of $3.4 million the previous year. At the end of the quarter, Lucara had $33.6 million cash on hand compared with $11.1 million one year ago. The company's cash position was further strengthened following the receipt of $10.9 million of proceeds from its late September tender. Lucara's outstanding debt of $16.6 million was subsequently repaid after the quarter, fully repaying the company's $50 million debenture. Production at Karowe rose 24% to 113,881 carats, while the company sold 81,357 carats from the mine.

Mountain Province to Raise $25M

Mountain Province Diamonds Inc. announced a non-brokered private placement to raise approximately $25 million through the placement of common shares at a price of $5 per share. The company's major shareholder, Bottin (International) Investments Ltd. (controlled by Dermot Desmond), expects to be subscribing, according to the explorer. The private placement is expected to close on or before November 22. The proceeds will be used to support Mountain Province's capital expenditures at the Gahcho Kué diamond project, the 2014 Tuzo Deep drill program and for general corporate purposes.

Stornoway to Raise $9M

Stornoway Diamond Corporation entered into an amended agreement with Dundee Securities Ltd. as lead underwriter, together with a syndicate including Scotiabank and Desjardins Securities Inc., for a private placement financing on a bought deal basis of 9.2 million flow-through common shares for gross proceeds of $8.74 million. In addition, Stornoway granted the underwriters the option to purchase up to an additional 1,380,000 flow-through shares at 95 cents per share to cover over-allotments.

Diamond Industry Stock Report

Most U.S. retailers were higher, led by Macy's (+10%) but Birks' (-4%) results dampened an otherwise positive mood. European shares mainly lower except for Damiani (+4%). Indian shares all lower, led by Gitanjali and Goldiam (-6%). Mining shares closed across a wide spread, Lucara (+22%) capped gainers, Peregrine (-11%) led declines. View the extended stock report.

Nov. 14 Nov. 7 Chng.
$1 = Euro 0.740 0.746 -0.006
$1 = Rupee 63.05 62.87 0.2
$1 = Israel Shekel 3.52 3.54 -0.02
$1 = Rand 10.19 10.30 -0.11
$1 = Canadian Dollar 1.05 1.05 0.00

Precious Metals
Gold $1,287.60 $1,307.60 -$20.00
Platinum $1,444.00 $1,448.00 -$4.00

Stock Indexes Chng.
BSE 20,399.42 20,822.77 -423.35 -2.0%
Dow Jones 15,876.22 15,593.98 282.24 1.8%
FTSE 6,666.13 6,697.22 -31.09 -0.5%
Hang Seng 22,649.15 22,881.03 -231.88 -1.0%
S&P 500 1,790.62 1,747.14 43.48 2.5%
Yahoo! Jewelry 971.87 974.02 -2.15 -0.2%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
The Pink Star (renamed the Pink Dream) is a true masterpiece of nature. Its immense importance was reflected in Geneva in the strength of the bidding and we are thrilled that the record price it achieved ($83,187,381) earned it a place in history.


Obrázek vložený uživatelem
Registrovaný uživatel
Turtle vdaka , ale včera som priradil cenu pri farebných diamantoch
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Nov. 22, 2013

Polished market improving with good Thanksgiving holiday expectations but trading volume below previous years. Indian cutters resume operations after Diwali break. Rough trading picks up after De Beers reduces prices 3-5% at $480M Nov. sight. Letšeng 3Q sales +20% to $41M, average price +21% to $2,022/ct. Okavango to introduce contract sales in 2014. Gitanjali 2Q revenue -24% to $478M, profit -74% to $6.5M. Suashish Diamonds 2Q revenue +9% to $29M, profit +137% to $2.4M. U.S. Sept. jewelry store sales +4% to $2.3B. Michael Rae resigns as CEO of Responsible Jewellery Council. Balisi Bonyongo to replace Jim Gowans as Debswana CEO.
RapNet Data: Nov. 21

Diamonds 1,083,133
Value $6,975,625,202
Carats 1,206,893
Average Discount -27.90%

Get Current Price List | Subscribe to Rapaport | Join RapNet


Rapaport Melee Auction

New York & Hong Kong

Rapaport Single Stone Auction
New York & Israel

View details.
Similar to Dubai, Damas foresees no limit to advancing its position as a leader in the high-end luxury market. Under our new vision, we are furthering our brand name and image and are proud to be recognized as one of the most dynamic and prestigious international trademarks in the jewelry industry. With our rich heritage in jewelry, spanning over 100 years, our clients will continue to enjoy the same high-quality products and staff dedication.

Anan Fakhreddin | Damas


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


De Beers Lowers Prices Slightly

The De Beers November sight closed with an estimated value of $480 million, slightly higher than presight estimates as sightholders observed a slight improvement in profitability from offered goods. It was also the first full international sight to be held in Botswana after the company completed its relocation of sightholder sales from London. De Beers lowered prices by 3% to 5%, mainly on the small and commercial-quality boxes, which helped spur demand for ex-plan goods. Assortments also changed, resulting in higher values on certain boxes. Some sightholders opted to defer their allocations to December but then applied for additional goods that were not included in their initial applications (ex-plan) due to price adjustments.

While the price declines provided some relief to manufacturers, they were nowhere near the kind of adjustment required to bring profitability to the sector, sightholders stated. Some added that rough goods from ALROSA continue to offer better value on the market.

Silver Demand for Jewelry +6%

Silver prices in the first 10 months of 2013 averaged $24.51 per ounce, nearly a 21% year-on-year decline, according to the Thomson Reuters GFMS Interim Silver Market Review, and GFMS is forecasting a full year average price even lower, at $24.24 per ounce. Silver fabrication demand will grow 6% year on year both for the jewelry sector and the silverware market this year. Jewelry demand has been particularly strong in emerging markets, with demand surging in India as consumers have dramatically pulled away from buying gold, GFMS reported.

Much of silver's price decline this year was driven by factors similarly influencing the gold market and triggered by expectations that the U.S. Federal Reserve would taper back its $85 billion monthly bond and mortgage backed securities purchases. This, alongside an expectation of more attractive returns in other asset classes, prompted investors to engage in sector rotation trades away from safe haven commodities toward equities and bonds, the report noted.

China No.1 for Ecommerce Opportunity

A.T. Kearney’s 2013 Global Retail E-Commerce Index ranked China in first place for online retail market opportunity, followed by Japan, the U.S., the U.K., South Korea, Germany, France, Brazil, Australia and Canada, to complete the top 10. The group measured 186 countries for market potential and ranked the top 30. Globally, over the past five years, online retail sales have grown at a 17% annual rate, with growth particularly strong in Latin America (27%) and Asia Pacific (25%).

Developing countries featured prominently in the index, holding 10 of the 30 positions and many of these markets have been able to shortcut the traditional curve as online retail grows at the same time as physical retail becomes more organized. Mobile commerce is also growing faster in smaller markets, such as Russia and the United Arab Emirates, compared with established markets. Social Media is another factor that has a major impact on retailers, but in vastly different ways, whereas in China, shoppers are encouraged to write post-purchase reviews in exchange for loyalty points but in developed markets many online retailers, such as Amazon, mine these pre- and post-purchase reviews for insights on products, instruction manuals and supply chain issues.


U.S. Jewelry Store Sales +4%

U.S. jewelry store sales rose 4.2% year on year in September to $2.258 billion, with the pace of growth weaker when compared to the increase of 6.9% in August. As reported earlier on Rapaport News, overall jewelry and watch sales in the U.S. for September rose 5.3%. Better still, the consumer price index for jewelry in September was essentially flat, or up just 0.2% year on year. Jewelry store sales for the first nine months of 2013 rose 8.8% to $21.933 billion. The highest monthly total for jewelry store sales so far this year was in May at $3 billion.

Meanwhile, advanced estimates for department store sales continued to reflect difficult market conditions and slipped 3.4% year on year in October to $13.503 billion. So far in 2013, department store sales have fallen 5.1% to $132.54 billion.

Jewelry CPI Flat

The U.S. consumer price index (CPI) for jewelry was basically flat, or down by just 0.4%, year on year at 177.72 points in October; however, the reading was a full three points lower than September's index. The highest CPI was 183.19 points in January 2012. The average monthly CPI for the first 10 months of the year was 0.3% lower year-on-year at 177.97 points.

Gold was about 27% lower year on year in October and platinum was down by nearly 13%. The RapNet Diamond Index (RAPI), the global benchmark for polished diamond prices, dropped 5.3% year on year for 1-carat diamonds in October, the index for 0.50-carat diamonds fell 2.5% and it declined 3.3% for 3-carat stones. However, RAPI for 0.30-carat diamonds jumped 6.6%.

JCPenney's Loss Surges

J.C. Penney Company Inc.'s revenue fell 5.1% year on year to $2.78 billion in the third quarter that ended on November 2; however, the retailer held cost of goods sold relatively flat from the previous year, they fell 0.8% to $1.96 billion. Comparable-store sales slipped 4.8% and gross margin fell to 29.5% from 32.5% one year ago. Operating expenses jumped 10.1% to $1.22 billion. JCPenney's net loss skyrocketed nearly 300% to $489 million.

JCPenney claimed that revenue from its online sales channel jumped 24.5% year on year to $266 million in the third quarter. Throughout its network of stores, top performing product categories were women's apparel, men's apparel and fine jewelry. JCPenney incurred $46 million in restructuring and management transition charges, cash and cash equivalents at the end of the third quarter was $1.227 billion, total available liquidity was $1.71 billion and total debt was $5.612 billion.

Gitanjali's Profit -74%

Gitanjali Gems Ltd.'s revenue declined 24% year on year to $477.9 million (INR 30.04 billion) in the second quarter that ended on September 30. The company's earnings dropped 74% to $6.5 million as financing costs jumped 80% to $29 million. The company noted that gold import restrictions by the Reserve Bank of India also negatively impacted business.

Diamond sales rose 39% to $370.9 million, while jewelry sales declined 48% to $203.8 million. Intersegment revenue, which is subtracted from reported revenue, surged 215% to $99.5 million. Gitanjali intends to add platinum, precious stones and silver jewelry categories to increase its international business. This week, Gitanjali Jewels opened in Jhansi, India, marking the retailer's 104th location in the country.

C Mahendra Reports a Loss

C Mahendra Exports Ltd.'s revenue fell 2% year on year to $72.6 million (INR 4.5 billion) in the second quarter that ended on September 30. The company reported a loss of $4.3 million compared with a profit of $1.7 million. For the first six months of the company's fiscal year 2014, revenue rose 48% to $200.8 million, while profit declined 64% to $628,178 and expenses jumped 49% to $194.2 million.

Tara Jewels' Profit -7%

Tara Jewels Ltd.'s revenue, excluding bullion, rose 12% year on year to $108 million (INR 6.812 billion) for the first fiscal half that ended on September 30. The company's profit fell 7% to $3.6 million. Rajeev Sheth, the chairman of Tara Jewels, declared the company's first interim dividend of one rupee per share and confirmed that its international business continues to experience healthy demand for jewelry from large retailers.

TBZ's Profit -82%

Tribhovandas Bhimji Zaveri's (TBZ) revenue declined nearly 8% year on year to $51.5 million (INR 3.34 billion) and profit plummeted nearly 82% to $558,000 for the second fiscal quarter that ended on September 30. The company observed weaker consumer sentiment as gold prices and the rupee were volatile and general economic conditions remained under pressure. TBZ anticipates that India's wedding segment will improve in the coming year, driven by a higher number of wedding days (74 days vs. 49 days in fiscal 2013), and auspicious days, which will last until end of June 2014.

Suashish's Profit Surges

Suashish Diamonds Ltd.'s revenue rose 9% year on year to $28.5 million (INR 1.8 billion) during the second quarter that ended on September 30. Expenses grew 11%, however, the company's profit more than doubled to $2.4 million. During the first six months of the year, sales decreased 24% to $52.7 million, while profit grew 28% to $4.6 million.

DGSE Reports a Loss

DGSE Companies Inc.'s revenue fell 17.9% year on year to $23.8 million for the third quarter that ended on September 30. Sales were negatively impacted by volatile market demand for precious metals along with an unprecedented decline in gold prices. The company's gross margin fell to 19.1% from 21.4%. DGSE reported a net loss of $1.4 million compared with a loss of nearly $500,000 one year ago. DGSE expects to be more selective with retail store openings as the fluctuations in precious metal pricing plays a strong role in the pace of its expansion plans.

Cash America Reaches Settlement With CFPB

Cash America International Inc. agreed to pay a $5 million penalty in a settlement with the Consumer Financial Protection Bureau (CFPB), without admitting or denying facts in a disclosure dispute. Cash America also agreed to set aside an additional $8 million, for a period of 180 days, to fund any further payments to eligible Ohio customers who make valid claims in connection with a reimbursement program. The company already refunded $6.4 million in connection with the program.

CFPB alleged that Cash America's subsidiary in Ohio improperly prepared certain court documents in debt collection lawsuits, violated the Military Lending Act by overcharging loan rates on some customers and impeded a regulatory review process. Cash America stated that it corrected system errors that permitted loans to be made at higher rates and it is in the process of enhancing compliance management and implementing additional procedures and controls to address the issues.

WTJ, Stuller Expand Partnership

World Trade Jewelers (WTJ), which specializes in developing specialty jewelry collections, extended its collaboration agreement with Stuller Inc. to include the new Scrabble brand jewelry distributorship for the independent market. WTJ will maintain the jewelry licenses and provide the product development, packaging, marketing and public relations for the three jewelry brands Stuller now offers: Scrabble, Hershey's Kisses and the Sweethearts collection.

Okavango Plans Fixed-Term Contracts

The Okavango Diamond Company is planning to introduce fixed-term supply contracts in 2014, Toby Frears, the company's managing director, said in Israel on Wednesday. The company currently sells via 10 online spot auctions per year, where Okavango sells about 250,000 carats of rough per auction with projected annual sales of about $400 million.

He said that contract sales will run alongside the company’s auction sales, but didn't confirm how much would be sold by either method. The company receives 12% of Debswana's rough supply and it is expected to increase to 15% by 2016. Okavango’s next sale is scheduled for the end of January 2014.

Damas Debuts New Marketing Vision

Damas rolled out a new corporate vision that is intended to drive the company's growth and global status as a market leader in luxury jewelry. One nuance to its corporate image was to change from being a famous brand in Dubai to one that is an internationally famous jewelry brand from Dubai. Damas also developed a new customer relationship management (CRM) system and launched its new website design.

Damas expects to launch more gold and diamond products, introduce international brands to feature in its stores, remodel its outlets and adopt a two-store format retail strategy. The new format will present Damas with the opportunity to offer prestigious international brands, while the Damas Collections retail outlets will continue to showcase in-house styles.

Rosy Blue, Gitanjali Receive Trademarks

The U.S. Patent & Trademark Office (USPTO) assigned the trademark ''Harmony Eternally In Love'' to Rosy Blue Jewelry Inc. of New York on November 12, with the registration number 4433334. The wording is stylized with eight oval-shaped designs intersecting to form the shape of a butterfly.

India's Office of The Trade Marks Registry assigned the trademark ''Poonam Bangles'' to Gitanjali Gems Ltd. of Mumbai on November 18, with the registration number 1932005. ''Poonam Bangles'' refers to all forms of jewelry and watches and falls under the Class 14 classification.


U.S. Vows to Freeze Trade Assets

The U.S. Ambassador to Zimbabwe, David Bruce Wharton, said that anyone attempting to use U.S. financial institutions in the trading of diamonds from the Marange of Zimbabwe will find their assets frozen as the law permits. Wharton told The Zimbabwean newspaper that the U.S. will not impose its position on the E.U., however, the U.S. continues to insist upon all of Zimbabwe's diamonds being free of illegal activity.

The U.S. continues sanctions on the Zimbabwe Mining Development Corporation (ZMDC), the Minerals Marketing Corporation of Zimbabwe (MMCZ), Marange Resources and Mbada Diamonds, which touch all of Marange's diamonds in one way or another. U.S. businesses are forbidden to trade diamonds or minerals that fund, in any way, those companies in either rough or polished form. The E.U. lifted sanctions on ZMDC in September and diamond trading between Antwerp and Zimbabwe is expected to resume shortly.

GIA to Supply Detection Devices

The Gemological Institute of America (GIA) and the World Federation of Diamond Bourses (WFDB) will distribute synthetic diamond detection devices at bourses. Ernie Blom, the WFDB's president, and Tom Moses, GIA's executive vice president, reiterated WFDB's commitment to enforcing “zero tolerance” for non-disclosure of synthetic stones. GIA's detection assistance to member bourses will permit members to identify illegal mixes of synthetic stones with natural diamond parcels.

The Israel Diamond Exchange (IDE) told its members that the GIA would deliver a detection device in February and that it can recognize synthetic diamonds with a 97% accuracy rate. The remaining 3% of suspect diamonds are classified as "not clear" and should be sent on to GIA's laboratory.

Sproule to Replace Rae at RJC

Michael Rae, the CEO of the Responsible Jewellery Council (RJC), has resigned from his position to pursue interests nearer his home in Melbourne, Australia. Rae has served as CEO since 2006 and he will be replaced by Catherine Sproule, pictured, who will serve as interim CEO, while the organization searches for his successor.

Bonyongo to Replace Gowans at Debswana

Debswana's shareholders appointed Balisi Mohumi Bonyongo, the current chief operating officer, as its managing director to replace outgoing James Gowans on January 1. Bonyongo will be responsible for implementing the company's long-term resource development plan at Debswana's mines, which include Jwaneng, Orapa, Letlhakane and Damtshaa. He has worked at Debswana for 20 years in various professional and leadership capacities, including manager of the aquarium project at Jwaneng, corporate strategy manager at Debswana's head office and as general mine manager at Jwaneng.

MJSA Names Board

MJSA named four new directors to its board, each of whom will serve three-year terms, including Ted Doudak, Paul Fuhrman, Stephen Kahler and Thomas F. Kelly. Additionally, re-elected officers include Edward N. DeCristofaro, Ann Arnold, Darrell Warren, Stuart Lee and Michael Toback. Richard V. Powers was appointed to another one-year term as officer-at-large.


Gem Diamonds' Sales -31%

Gem Diamonds reported that rough diamond sales fell 31% year on year to $41.3 million for the third quarter that ended on September 30. The decrease was mainly due to its sale of the Ellendale mine before the start of 2013 to focus on its Letseng operation in Lesotho and a new project in Botswana. Gem Diamonds sold 20,405 carats from Letseng during the quarter and achieved a 20.9% year on year price improvement at $2,022 per carat.

During the quarter, Gem Diamonds recovered 25,559 carats from Letseng, representing a year-on-year decline of 5.5%. Nonetheless, the installation of four new cone crushers earlier this year improved the recovery of high-value and unbroken stones, with 13 rough diamonds valued in excess of $1 million each, 26 diamonds valued at more than $20,000 per carat and 178 diamonds in excess of 10.80 carats being recovered.

ALROSA Wins Udachnaya Bid

ALROSA reportedly won an exploration bid for the Udachnaya Pipe peripheral alluvial deposit in Yakutia, according to Interfax. The property is close to ALROSA's deposits and bid $763,000 for exploration rights. The deposit sits on a flank of the Udachnaya Pipe and reportedly has C1 category reserves of 109,500 carats, according to government data.

In other news, an ALROSA spokesperson told Interfax that it is negotiating sales contracts directly with major jewelers and auction houses, and has already signed a deal with Sotheby's for the sale of unique, high-value diamonds. The spokesman said supply deals, some new, some renewed, were in the works with Tiffany & Co., Graff, Cartier and Lazare Kaplan and that ALROSA was working with the government to simplify polished diamond export procedures.

Gemfields' Sale Achieves $16M

Gemfields plc. sold 4.9 million carats of lower-quality emeralds and beryl from its Kagem mine in Zambia for $16.4 million, or an average of $3.32 per carat. The auction was held in Lusaka and was 90% sold by lot. Twenty-one companies attended the auction, with 20 placing at least one bid for the 5.6 million carats that were offered. The sale brought fiscal year to date revenue to $56.4 million, surpassing $48.4 million achieved in fiscal 2013.

Mountain Province Increases Placement

Mountain Province Diamonds Inc. increased its previously announced non-brokered private placement of common shares, due to strong support from existing shareholders, to $28 million from $24 million. Additional proceeds under the private placement will be used to support capital expenditures at the Gahcho Kué project, the 2014 Tuzo deep drill program and for general corporate purposes. The private placement is expected to close on or before November 22 and is subject to regulatory approval.

Peregrine Identifies More Kimberlites

Peregrine Diamonds Ltd. completed processing a sample from the CH-6 kimberlite on its Chidliak property and diamond recovery is underway at the Saskatchewan Research Council facility in Saskatoon. Diamond grade results are expected by mid-December and an independent valuation of the diamond parcel will be completed in early 2014. In addition, Peregrine Diamonds discovered three new kimberlite bodies during its Chidliak summer exploration program, bringing the project's total number to 67.


Diamond Industry Stock Report

Tough week on stocks as retail investors worry about weak Christmas sales from mid- and lower-income brackets with Birks (-11%) and Zale (-7%) leading declines; European shares flat, India shares mostly lower with Classic (-11%), but Winsome (+27%) surged. Mining firms mainly flat except for Stornoway (-13%) and Peregrine (+22%). View the extended stock report.

Nov. 21 Nov. 14 Chng.
$1 = Euro 0.740 0.740 0.000
$1 = Rupee 62.94 63.05 -0.1
$1 = Israel Shekel 3.56 3.52 0.04
$1 = Rand 10.13 10.19 -0.06
$1 = Canadian Dollar 1.05 1.05 0.00

Precious Metals
Gold $1,242.30 $1,287.60 -$45.30
Platinum $1,386.00 $1,444.00 -$58.00

Stock Indexes Chng.
BSE 20,229.05 20,399.42 -170.37 -0.8%
Dow Jones 16,009.99 15,876.22 133.77 0.8%
FTSE 6,681.33 6,666.13 15.20 0.2%
Hang Seng 23,580.29 22,649.15 931.14 4.1%
S&P 500 1,795.85 1,790.62 5.23 0.3%
Yahoo! Jewelry 961.19 971.87 -10.68 -1.1%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Dec. 6, 2013

U.S. Thanksgiving weekend retail sales -3% to $57.4B. Cyber Monday sales +18% to $1.7B as consumers increase purchases through mobiles devices. Holiday demand supporting diamond prices but trading levels disappoint. November RapNet Diamond Index (RAPI) 1 ct. stable. Selective demand improving for 1-2 ct. collection clean (D-H, IF-VVS) certs. De Beers introduces forward contracts at auction sales. Next week’s sight expected to be about $600M. ALROSA signs cooperation agreement with Antwerp AWDC with 3Q revenue +41% to $1.2B, profit -4% to $252M. Luk Fook 1H revenue +70% to $1.3B, profit +72% to $125M. U.S. Oct. polished imports +54% to $2.2B, polished exports +35% to $1.5B.

RapNet Data: Dec. 5

Diamonds 1,064,822
Value $6,836,656,203
Carats 1,191,620
Average Discount -27.98%

Get Current Price List | Subscribe to Rapaport | Join RapNet



Rapaport Single Stone Auction

New York & Israel

View details.
Rapaport Melee Auction

New York

U.S. 3Q revised GDP growth is not all good news. Inventories accounted for almost half of growth and businesses likely will cut back on investment in inventories in late 2013 and early 2014, weighing on near-term growth. Still, the economy did have some momentum heading into the government shutdown and will continue to expand in 2014. With less fiscal drag, a better global economy, continued gains in consumer spending, a pickup in business investment and the ongoing recovery in the housing market, growth in 2014 will be around 2.5%, noticeably stronger than the 1.7% pace this year.

Gus Faucher | PNC Financial Servi

The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs


Polished Prices Stable in Nov.

Certified polished diamond prices were stable in November supported by improving demand during the Christmas shopping season. Diamond dealers were focused on supplying U.S. jewelers with strong demand for lower-priced commercial-quality diamonds as consumers tighten their holiday shopping budgets.

The RapNet Diamond Index (RAPI™) for 1-carat certified diamonds was down 0.1% during the month of November. RAPI for 0.30-carat diamonds rose 1.4%, while RAPI for 0.50-carat diamonds increased 0.2%. RAPI for 3-carat diamonds declined 0.3%. Still, RAPI for 1-carat is down 4.7% year on year, 0.50-carat is down 1.7% and 3-carat fell 2.9%. However, RAPI for 0.30-carat is up 8.2% compared with November 2012.

ALROSA's Profit -4%

ALROSA's revenue rose 41% year on year to $1.2 billion (RUB 39.15 billion) in the third quarter of 2013 due to higher sales volume of gem-quality diamonds. However, profit declined 4% to $251.4 million. Gem-quality diamond sales rose by 59% to 5.4 million carats, while industrial diamond sales rose 37% to 2.6 million carats. ALROSA reported that the average price of its gem-quality diamonds sold during the period rose by 1% to $213.50 per carat.

ALROSA's supervisory board approved amended regulations on its dividend policy in which it will pay no less than 35% of net profit as determined by international financial reporting standards (IFRS). The minimum level of dividend in the previous version of ALROSA's policy, which was adopted in 2011, was 10% of net profit under the Russian Accounting Standards (RAS).

In other news, ALROSA and the Antwerp World Diamond Centre (AWDC) signed a three year cooperation agreement solidifying a commitment to share trade information, market intelligence, technology and business opportunities. The company’s clients in Antwerp affirmed that generic marketing efforts are vital to stimulate demand and a clear regulation framework is necessary to deal with synthetic diamonds entering the pipeli

Martin Rapaport, the chairman of the Rapaport Group, published “Sinthetics,” an editorial that defines measures the diamond industry must take to ensure the integrity of natural diamonds and the trade.

Rapaport defines the 4-D’s: Differentiation, Detection, Disclosure and Documentation, and calls upon the trade to sample-test diamonds before delivery to retailers. Documentation on invoices stating that diamonds are natural is important, but not sufficient. Trust without verification is unacceptable and dangerous. Rapaport calls on the diamond mining sector to increase consumer education about natural diamonds so that they may be properly differentiated from synthetics.

View more information and read th

Gold Jewelry Demand Falls By Value

Global gold demand for jewelry fell 15% year on year by value to $20.75 billion in the third quarter that ended on September 30, according to provisional calculations by the World Gold Council. The decrease was price related since gold demand for jewelry by weight increased 5% to 486.7 tonnes, reaching the highest level for the third quarter since 2010. Gold jewelry demand by value is up 6% for the first nine months of 2013 to $77.3 billion.

China's consumers generated the highest demand for gold jewelry by weight, accounting for 34% of global demand, as 24-karat gold (chuk kam) jewelry became extremely popular, according to the Council. Greater China's gold jewelry demand rose 3% by value to $7.34 billion during the third quarter. Demand for gold in India fell 23% by weight, mostly due to import restrictions. However, the World Gold Council noted that year-to-date demand for gold is up 13%. India's gold jewelry demand by value fell 38% to $4.47 billion.

Gold jewelry demand in the Middle East fell 12% to $1.65 billion and U.S. demand slipped 8% to $1.5 billion.

Luk Fook's Profit +72%

Luk Fook Holdings reported that revenue rose 70% year on year ‎to $1.3 billion (HKD 10.06 billion) in the six months that ended on September 30. Same-store sales increased 62%. Group profit ‎jumped 72% to $124.5 million. The retailer observed a surge in gold product sales, and together with platinum, accounted for 72% of group sales. Wholesale ‎division revenue experienced a sales increase of 16% to $141.9 million. Sales from its ‎licensee partners rose 3% to $41.6 million.

Thanksgiving Holiday Retail Sales -3%

U.S. consumer spending over the four-day Thanksgiving weekend that kicked off the Christmas gifting season declined 2.7% year on year to $57.4 billion as the average household budget afforded less and retailers reduced prices to spark a buying frenzy, according to the National Retail Federation (NRF). The NRF noted that the shorter holiday shopping season coupled with retailers having promoted special discounts as early as October also led to decreased spending on this important holiday weekend.

Another observation confirmed that retailers who opened on Thanksgiving Day for the first time experienced a dramatic volume of sales, however, they simply attracted would-be Black Friday (or Super Saturday) shoppers since footfalls plummeted by double-digits over the holiday weekend. Of those consumers who shopped on the weekend, their average total spending declined 4% year on year to $407.02 per shopper, the NRF concluded. While 16.9% of weekend shoppers bought jewelry in stores, the group noted that 26.1% of those who shopped online made a jewelry purchase. The average online transaction for all products rose 3% year on year to $177.

Seasonal Online Sales Reach $24B

Early Christmas-season retail remained strong for ecommerce sales as more U.S. consumers shopped for deals and gifts from the comfort of their home or office. According to comScore Inc., ecommerce sales from retailers for the November 1 through December 2 timeframe jumped 8% year on year to $23.9 billion. The group also recorded strong sales increases from online shopping during the Thanksgiving holiday weekend and on Cyber Monday, which was December 2.

Online sales jumped 21% on Thanksgiving Day to $766 million, they rose 15% on Black Friday to $1.2 billion and sales jumped 34% to $1.6 billion for the weekend of November 30 and December 1. Cyber Monday's retail sales increased 18% year on year to $1.74 billion, setting a record high for a single day, according to comScore.

Christie's London Sale Tops $11M

Christie's London sale of important jewels achieved a total of $11,257,278 and was 76% sold by lot. The top lot was a mid-19th century diamond tiara/necklace, which sold for $1.03 million, followed by a 21.96-carat Burmese sapphire that sold for $470,901 or $21,444 per carat. A 4.77-carat Kashmir sapphire and diamond ring fetched $237,477, or $49,785 per carat, while a rectangular, 4.20-carat, Kashmir sapphire and diamond ring achieved $233,586, or $55,615 per carat.

U.S. Jewelry Sales to Rise 7%

IBISWorld Inc. predicts retail sales to increase 3.4% year on year to $68.9 billion for U.S. Christmas season. But IBISWorld noted that the average household plans to reduce expenses and purchase presents for a smaller network of people. Of those who receive gifts, IBISWorld expects more high-value items such as electronics and jewelry will be placed under the tree.

IBISWorld forecasts total spending on toys, sporting goods and hobby goods to increase 7.6% year on year to $3.72 billion, while spending on electronics is set to rise 6.6% to $8.32 billion and jewelry sales should jump 7% to $5.58 billion. If jewelry sales do increase as predicted, the rate of growth would be slightly less than the 8.8% increase jewelry stores have reported for the first nine months of 2013 and down from a 12% percent increase in December 2012, according to Rapaport News records.

Winsome Reports Quarterly Loss

Winsome Diamonds & Jewellery Ltd. reported interim results for the quarter that ended on September 30, which marked its sixth reporting period following a fiscal year extension by India's Ministry of Corporate Affairs. Revenue plummeted to $1.5 million (INR 94.4 million) compared with $373.7 million (INR 23.2 billion) one year ago. The company recorded a loss of $39.6 million compared with a profit of $3 million. Liabilities, including short-term borrowing and trade payables, were reported at $675 million; however, outstanding trade receivables alone were $764 million, representing an overwhelming majority of the company's paper assets.
De Beers Introduces Forward Contracts

De Beers introduced forward contract auction sales to complement spot auction events and in order to provide customers with a choice to secure longer term supplies. Customers will have the opportunity to bid for future rough diamond supplies, determining the types and quantities of diamonds as well as when they will require them. Registered customers of De Beers auction sales were able to bid for future supplies up to three months in advance at the company's first forward contract auction event that was held this week. Approximately 10% of De Beers’ rough diamonds are sold through its auction platform.
Partners Launch 'Magic Square'

Chow Tai Fook, Forevermark and Crossworks Manufacturing launched the ideal square-cut diamond under the “Magic Square” collection brand at Chow Tai Fook stores in Greater China. The Magic Square collection highlights use of ideal square-cut diamonds, which are designed by Crossworks and being sold in platinum through the De Beers Forevermark brand. The Magic Square reportedly was in the making for three years in order to achieve a most brilliant square-cut diamond status, according to Crossworks.

Forevermark Prepares for Australia

The Forevermark diamond brand selected Mazzucchelli’s, owned by De Beers sightholder M. Suresh, as its exclusive authorized Forevermark Jeweller for Australia's Central Territory, Southern Australia, Victoria and Western Australia. Mazzucchelli’s joins Forevermark's other authorized jewelers in Australia, including Diamonds International, Musson and Percy Marks, which focus on premium diamonds such as the ideal square-cut from Crossworks Manufacturing through their local representative, Storch & Co.


DiamondCorp Sale Achieves $279K

DiamondCorp sold 6,442 carats of rough stones in November for $278,574, or $43 per carat. The sale was the first of its kind for the company, offering rough diamonds recovered from tailings retreatment activity at the Lace diamond mine in the Free State province of South Africa and it included the first diamonds sold to Laurelton Diamonds, a subsidiary of Tiffany & Co. DiamondCorp plans to increase shift operation by February 2014.

CH-6 Sample Returns High Grade

Peregrine Diamonds Ltd. reported that bulk sampling from its CH-6 kimberlite pipe on the Chidliak diamond property returned a diamond grade of 2.70 carats per tonne. The resulting diamond parcel consisted of 600.50 carats of commercial-size (0.85 mm plus) stones including 48 diamonds that were greater than 1 carat in size and 137 diamonds greater than 0.50 carats. The largest stone was 3.54 carats and a significant portion of the parcel was of gem-quality diamonds, according to the junior explorer. Peregrine added that the grade is higher than that of any of the kimberlite pipes currently under advanced exploration or development in Canada.

Board Approves Gahcho Kue Permit

Construction is one step closer for the Gahcho Kue diamond project in the Northwest Territories of Canada following the approval of its land use permit by the Mackenzie Valley Land and Water Board. De Beers Canada and partner Mountain Province will begin land-based site work in preparation for the 2014 winter road season. The final regulatory step that will allow full construction and the development of the mine is expected in 2014. Construction is expected to complete in two years. The project is expected to process 31 million tonnes of ore containing roughly 49 million carats.


Oct. $Mil. %Chng. YTD $Mil. %Chng.
Polished imports $2,221 54% $19,269 17%
Polished exports $1,517 35% $16,230 16%
Net imports $705 120% $3,041 28%

Rough imports $33 22% $397 -2%
Rough exports $33 65% $243 -6%
Net imports $0 $152 3%

Net diamond account $705 115%

Diamond Industry Stock Report

The biggest U.S. shopping weekend of the year resulted in lackluster sales and investors took notice, with share price declines across the board, even European retail shares fell as fears spread of a ho-hum season there, as well. Hong Kong shares lower with Chow Tai Fook (-7%) and Chow Sang Sang (-10%) leading declines. Indian shares mixed with Goldiam and Suashish (+3%) trending up. Miners mostly higher, led by Peregrine (+24%). View the extended stock report.

Dec. 5 Nov. 27 Chng.
$1 = Euro 0.730 0.740 -0.010
$1 = Rupee 61.76 62.55 -0.8
$1 = Israel Shekel 3.52 3.54 -0.02
$1 = Rand 10.46 10.23 0.23
$1 = Canadian Dollar 1.06 1.06 0.00

Precious Metals
Gold $1,226.20 $1,238.30 -$12.10
Platinum $1,357.00 $1,351.00 $6.00

Stock Indexes Chng.
BSE 20,957.81 20,420.26 537.55 2.6%
Dow Jones 15,821.51 16,097.20 -275.69 -1.7%
FTSE 6,498.33 6,649.47 -151.14 -2.3%
Hang Seng 23,712.57 23,806.35 -93.78 -0.4%
S&P 500 1,785.03 1,807.23 -22.20 -1.2%
Yahoo! Jewelry 952.35 972.95 -20.60 -2.1%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Dec. 13, 2013

Diamond markets driven by last minute U.S. demand as holiday sales fall below expectations. Trading outlook shifts to the Far East ahead of the Chinese New Year on January 31. De Beers sight estimated at $580M with stable prices and assortments. Antwerp holds first Marange tender of 300,000 cts. diamonds. Christie’s NY sells $65.8M (86% by lot) with rectangular-cut, 52.58ct, D, IF Golconda diamond selling for $10.9M ($207,600/ct.). Sotheby’s NY sells $60.6M (82% by lot) with 61.35ct. emerald and diamond ring selling for $4.6M. Dominion Diamond Corp. 3Q sales +79% to $152M, loss of $4M vs. profit of $3M a year earlier. U.S. jewelry sales +6% in Oct.

RapNet Data: Dec. 12

Diamonds 1,059,514
Value $6,767,618,036
Carats 1,181,010
Average Discount -27.77%

Get Current Price List | Subscribe to Rapaport | Join RapNet


Rapaport Melee Auction

New York & Dubai

View details.
Rapaport Melee Auction

New York & Dubai

We have seen Zimbabwe's diamonds policy being put forward and a draft minerals policy, but nothing has been implemented... we have nothing against diamonds being sold, but issues of accountability and transparency must be addressed.

Tafadzwa Kuvheya | Centre for Natural Resource


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.

Swiss Watch Exports +1%

Swiss Watch exports grew 1.1% year on year to $2.5 billion (CHF 2.2 billion) in October, achieving a record monthly value for the sector, according to the Federation of the Swiss ‎Watch Industry.‎ Growth by value was spurred by a 4.6% increase in steel watch exports, coupled with a 69% rise in the volume of platinum wristwatch units that were exported during the month. Exports of wristwatches rose 1.6% to $2.289 billion, while the number of units shipped increased by 1.4% to 2.79 million.

GJEPC, GII Open Detection Center

The Gem & Jewellery Export Promotion Council (GJEPC) and the Gemmological Institute of India (GII) opened a diamond detection and resource center (DDRC) at the Bharat Diamond Bourse (BDB) on December 6. The DDRC will provide companies with the ability to test any parcel of diamonds to ensure that synthetic diamonds and natural diamonds are not mixed together, therefore securing transparency in the diamond pipeline. The center will also offer services to diamond companies, including technical support and on the job training in detection method.

U.S. Jewelry Sales +6%

Jewelry sales in the U.S. during October rose 5.5% year on year, according to preliminary government figures, maintaining a 12-month running total of $69.8 billion. Sales of watches increased 7.5%, representing an annual total of $9.4 billion. Meanwhile, the U.S. consumer price index (CPI) for jewelry in October slipped 0.4%, while it increased 0.6% for watches.

At the same time, U.S. jewelry store sales rose 14.8% year on year in October to $2.512 billion. Jewelry store sales for the first 10 months of 2013 rose 9.4% to $24.453 billion. Department store sales, however, for November, which kicked off the Christmas shopping season, fell 4.3% year on year to $17.47 billion. Department store sales have had a difficult year, falling 5% for the first 11 months of 2013 to $150 billion.


Christie's Jewels Sale Nears $66M

Christie’s New York sale of magnificent jewels on December 10 achieved $65,790,125 and was 86% sold by lot. The top lot — a 52.28-carat rectangular-cut D, internally flawless Golconda diamond — accounted for $10,917,000 of that total. Bidding was very active with a lot of dealer attendance. While some dealers were able to score a piece, there was some grumbling about prices soaring to levels that would make the jewels unprofitable for them to resell. This sale combined with auctions in April and October brought the total for New York magnificent jewels at Christie’s in 2013 to $193,823,950.

Sotheby's Jewels Sale Nears $61M

Sotheby's New York sale of magnificent jewels on December 11 achieved $60,550,813, the highest total ever for one of its jewelry sales in Manhattan, and was 82.1% sold by lot. The top lot of the day was a 61.35-carat Colombian emerald and diamond ring that sold for $4,645,000 against an estimate of $1 million to $1.5 million. Colored gemstones fared well at this sale overall as did diamonds. But the composition of the sale was more about historic signed jewelry that highlighted a collection of Egyptian Revival pieces made by Cartier in the 1920s. Sotheby's worldwide jewelry sales in 2013 have totaled $608 million, the highest annual total in company history.

Bradford Jewels Fetch $2M

Bonhams London's sale of jewels from novelist Barbara Taylor Bradford achieved $2 million (GBP 1,229,250) on December 5. Bradford's collection included 40 pieces given to her by her husband Robert Bradford. The couple celebrates their 50th wedding anniversary on Christmas Eve. Each piece was accompanied by a short description of its history, as told by the author, including personal details such as when she was given them and why.

Lion's to Sue State for Fraud

Lion’s Diamond charges that judicial authorities in Belgium committed fraud and intends to sue the state under rules of the Penal Court. In 2004, some of the company's diamonds were seized by the state and assessed at $1.6 million by judicial experts; however, the diamonds that were returned to Lion's were valuated at only $200,000, according to the report in De Tijd. Lion's attorney, Joke Vanden Branden, said other diamantaires face the same problem but they are stuck without hard evidence.

Antwerp Tenders Marange Rough

The first tender of rough diamonds from Zimbabwe to be held in Europe following the release of sanctions will take place at the Antwerp Diamond Tender Facility and conclude next week. The tender offers about 300,000 carats from Marange Resources, Diamond Mining Company (DMC), Anjin Investments and Jinan and Kusena Diamonds. The Antwerp World Diamond Centre is convinced that the influx of rough supply from Zimbabwe should significantly impact market transparency, contributing to sustainable social and economic development of Zimbabwe.

Ingle & Rhode Introduce Ready Made Pieces

Ingle & Rhode, which is committed to fair trade principles and prides itself on offering ethically sourced diamond jewelry in the U.K., created its first ready-to-wear collection of engagement rings in preparation for Christmas. The collection includes 15 engagement ring designs that are available in certified Fairtrade or recycled gold and platinum, and they are set with (mine of origin) traceable diamonds from Canada and Australia as well as sapphires that are ethically sourced from Sri Lanka.

Pure Gold Sets Pre-Expo Expansion

The Pure Gold Group will invest about $136 million (AED 500 million) to expand its operations in United Arab Emirates (UAE) between now and the World Expo 2020 in Dubai. The group expects to invest about $116 million in its Pure Gold Jewellers retail division, which is its core business. The group added that it will invest $20 million expanding the La Moda Exclusives sunglass retail chain. Pure Gold Jewellers will open an additional 65 stores in the UAE by 2020 and expand the La Moda Exclusives chain by adding 50 new stores.

Jewelry Exchange to Launch Infinity

The Jewelry Exchange reported that its same-store sales rose 13.7% in the month of November, but it didn't provide hard totals. Some of the top sellers in November included certified 1-carat solitaires, which the retailer listed at $1,990 and its new, classically-styled, 18-karat gold diamond rings. The Jewelry Exchange attributed the sales increase to offering new product lines and intends now to move forward its full launch of the diamond Infinity collection in time for Christmas. Originally, the retailer was planning to launch Infinity for Valentine's Day 2014.

Fraudulent Returns to Increase

The National Retail Federation (NRF) estimated that fraudulent merchandise returns at the nation's retailers in 2013 will decline slightly, by just 0.6% year on year, to $8.76 billion. However, fraudulent returns for the Christmas season were expected to surge 17.7% to $3.39 billion, according to the group's annual return fraud survey.

In NRF's survey, 94.8% of retailers have experienced the return of stolen merchandise in the past year, and 69% report that they have experienced the return of merchandise purchased on fraudulent or stolen tender, but that figure is down from 84.2% in 2012. However, employee return fraud or collusion with external sources is a much bigger problem this year, according to the NRF, with 93.1% of retailers having dealt with this problem in 2013 compared with 80.7% in 2012. Gift card fraud has increased but the use of counterfeit receipts has waned.

Florist Creates $5M Wreath

Florist Pasi Jokinen-Carter designed a Christmas wreath with 138.83 carats of diamonds and rubies along with unusual seasonal flowers and berries for a made-to-order price of $4,645,800. The design features a central ruby of 17.49 carats and one 3.03-carat yellow diamond. Additionally, retailer 77 Diamonds, which supplied the stones, can create jewelry from the gems for no additional cost once the festive season has finished.

Marco Bicego Shop Debuts in NY

Marco Bicego debuted its first jewelry shop-in-shop with Bloomingdale’s at 59th Street in Manhattan, while incorporating its new visual identity that will be rolled out to partner locations in 2014. The Marco Bicego shop is located on the balcony level of Bloomingdale's in the fine jewelry department. The jewelry brand already operates shop-in-shops in Tokyo, Puerto Rico, Italy, Dubai, Bulgaria, Azerbaijan and Kazakhstan and stores in Verona, Budapest, Crete and Mykonos.

Yael Designs Opens Showroom

Yael Designs opened its first jewelry showroom in San Francisco's popular Union Square neighborhood. Customers may visit the showroom by appointment. The showroom is located at 49 Geary Street, a famed art gallery building that houses more than a dozen fine art and photography galleries. Yael Designs’ 1,400-square-foot showroom will offer shoppers the brand's fashion and bridal collections. Positioning the jewelry showroom alongside art galleries was a dream of Yael Designs’ CEO, Yehouda Saketkhou, who is also an avid art collector and a long-time San Francisco resident
Younger Shoppers Seek Transparency

Younger U.S. consumers are even more attracted to retailers who focus on ethical and sustainable practices when it comes to buying jewelry and other big ticket items, according to KPMG. Survey data revealed that about 41% of consumers under 30 years of age either ''always'' or ''frequently'' considered social issues when making a purchase of jewelry, computers, automobiles or large appliances. But only 24% of the general population was equally as interested, KPMG found.

The survey of 1,000 adults, 18 years of age and older, taken in early November, revealed that nearly 70% of consumers under the age of 30 considered social issues such as sustainability, human rights and fair trade before making any type of purchase. This far outpaced the less than 50% of consumers overall who felt the same way. Retailers should introduce more transparency into their product labels and identify fair trade, conflict-free and environmentally friendly practices, according to KPMG.

Dominion Diamond Reports Loss

Dominion Diamond Corporation reported that sales of rough diamonds rose 78.8% year on year to $151.64 million for the third quarter that ended on October 31. One year ago, before the mining company sold Harry Winston Inc., sales from rough diamonds and the retail segment combined totaled $180.4 million. Dominion Diamond recorded a loss of $4 million in the third quarter compared with profit of $4 million one year ago. The company's loss attributable to shareholders was $2.9 million compared with profit of $3.4 million.

By mining segment, sales from the Diavik mine totaled $52.9 million or $118 per carat, while Ekati's sales reached $98.7 million or $271 per carat. Gross margin as a percentage of sales was 24.4% at Diavik and 5.2% at Ekati, producing a group gross margin total of 11.9%.

Stornoway Raises $10M

Stornoway Diamond Corporation raised $10.1 million through its previously announced bought-deal private placement to finance exploration on its Renard project, located in the James Bay region of north-central Quebec. The funding comes from the issuance of flow-through common shares — shares issued by a corporation to investors who then receive tax incentives — by Stornoway specifically for the purpose of additional work on Renard. The company believes Renard has the potential to be a “significant” producer of high-value rough diamonds over a long mine life.

Anjin Reduces Workforce

Anjin Investments, which mines diamonds in Zimbabwe's eastern Marange fields, expects to lay off 190 employees from its 845-strong workforce, according to Pretoria News. The company stated that rough diamond prices have been falling and the company needs to switch to more expensive underground mining as alluvial supplies are depleted. The Zimbabwe Mining Development Corporation (ZMDC), which is a joint partner with Anjin at the Marange operation, is on the list of U.S. sanctioned companies.

Pangolin Moves Drilling Target

Pangolin Diamonds Corporation completed core drilling at its GK6 geobotanical anomaly at Jwaneng South in Botswana but did not intersect kimberlite. Drilling intersected an igneous intrusion, which accounted for the botanical anomaly, the magnetic and gravity profiles, as well as the trace element results obtained over the feature. The drilling team has been relocated to a different geophysical target within the project area, where drilling has commenced. The target currently being drilled is modeled to be in excess of 20 hectares in size.

Russia to Approve Lukoil Rough Exports

Arkhangelskgeoldobycha (AGD), a diamond mining subsidiary of Lukoil, will receive a license to export rough diamonds in 2014, according to Interfax. ALROSA and its subsidiaries already have rough diamond export licenses. AGD holds the license to the Verkhotina property where the Grib pipe was discovered in 1996 and it expects to tap $11 billion worth of diamonds over the life of the mine.

Trans Hex 1H Production Falls

Trans Hex's diamond production at its South African operations fell 39% year on year to 21,849 carats during the first half of its fiscal year that ended on September 30. Diamond production at the Somiluana mine in Angola, which Trans Hex holds a 33% stake, jumped 58% to 35,779 carats during the first half. Trans Hex didn't provide sales figures for the first half, however, diamond revenue from April through December 5 amounted to $41.9 million from the sale of 39,701 carats.

Rockwell's Production +54%

Rockwell Diamonds' production rose 53.7% year on year to 9,148 carats during its third quarter that ended on November 30. Revenue from diamond sales of 6,066 carats increased 45.3% to $10.7 million, representing an average price decline of 3% to $1,764 per carat. Rockwell's royalties from mining contracts delivered $357,500.

Two Execs Join True North Board

True North Gems Inc. appointed Raymond Simpson and James R.W. Pounds, both of whom are executives of Dominion Diamond Corporation, to the company's advisory board. Simpson is currently an executive vice president of Dominion Diamond and has more than 20 years of experience in the diamond industry.

Diamond Industry Stock Report

Losers outnumber gainers in the U.S. with Birks (-19%) and Zale (+13%) defining the spread. European and India shares were all lower except for C. Mahendra (+1%). Hong Kong shares up. Mining shares mixed with Stellar (+9%) and Mountain Province (-9%) on the win/loss fringes. View the extended stock report.

Dec. 12 Dec. 5 Chng.
$1 = Euro 0.727 0.730 -0.003
$1 = Rupee 61.82 61.76 0.1
$1 = Israel Shekel 3.50 3.52 -0.02
$1 = Rand 10.39 10.46 -0.07
$1 = Canadian Dollar 1.06 1.06 0.00

Precious Metals
Gold $1,227.20 $1,226.20 $1.00
Platinum $1,357.00 $1,357.00 $0.00

Stock Indexes Chng.
BSE 20,925.61 20,957.81 -32.20 -0.2%
Dow Jones 15,739.43 15,821.51 -82.08 -0.5%
FTSE 6,445.25 6,498.33 -53.08 -0.8%
Hang Seng 23,218.12 23,712.57 -494.45 -2.1%
S&P 500 1,775.50 1,785.03 -9.53 -0.5%
Yahoo! Jewelry 930.68 952.35 -21.67 -2.3%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Dec. 20, 2013

Market sentiment improving in last week before Christmas. Very strong international demand for GIA dossiers. Rough market improving with increased trading activity as sightholders take full allocations. Rough prices steady with slight premiums on the secondary market. Banks tightening credit policy in 2014 with ABN Amro reducing credit facility for rough purchases from 100% to 70%. ALROSA targets flat production of 36M cts. in 2014. Kristall projects 2013 sales -14% to $360M, polished production -7% to 160,000 cts. India’s Nov. polished exports -22% to $1.1B, rough imports +26% to $1.1B. Rapaport Group launches The Diamond Show in Basel. Happy Holidays.

RapNet Data: Dec. 19

Diamonds 1,063,140
Value $6,844,589,991
Carats 1,184,486
Average Discount -27.64%

Get Current Price List | Subscribe to Rapaport | Join RapNet
Rapaport Melee Auction

New York & Dubai

View details.
Rapaport Melee Auction

New York & Dubai
The Diamond Show - Basel

Markthalle building

Register Now:

Closed for Jewish Sabbath Mar. 29

The U.S. holiday season has been marginal to just OK. Retailers are doing anything they can to get rid of merchandise.

Joel Bines | AlixPartners


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


De Beers Sight Estimate at $580M

The De Beers December sight had an estimated value of $580 million with prices and box values kept relatively stable. Sightholders took goods that were deferred from November and they sought to build inventory for their factories. Trading on the secondary market improved following December’s sight. There was also some ex-plan supplied at the sight, which are goods made available over and above sightholders’ previously applications for goods.

Sightholders noted that they purchased goods that will maintain their operations through the relatively long period, until the next sight, which begins on January 20. Signs also point to tighter bank credit in 2014, with ABN Amro confirming that it is reducing its financing of rough purchases from all sources from 100% to 70% on January 1. Manufacturers will, therefore, have to finance 30% of their future purchases.

ALROSA Maintains Production Forecast

ALROSA's supervisory board approved the company's budget for 2014, expecting to maintain the same level of spending and production for the year ahead. ALROSA's preliminary production estimates for 2013 suggest it will have mined more than 36 million carats compared with 34.4 million carats in 2012.

ALROSA's board approved investing $1.2 billion during 2014, the same amount it had this year, on capital projects, with a 30% year on year spending increase for underground mines the bulk of which will be for construction of the Udachny underground mine. The board stated that it foresees a stable balance between rough diamond supply and demand, with a potential for a 2% to 3% increase in prices during 2014.


U.S. Christmas Retail Sales +2%

ShopperTrak reported that U.S. retail store sales fell 0.8% year on year for the week that ended on December 15, while store foot traffic plunged 19.9%. So far this Christmas season, which began on November 1, ShopperTrak estimated that sales are up 2% year on year to $176.7 billion, which is in line with forecast of 2.4% growth. The busiest shopping weekend of the year begins December 20.

Similarly, this past week, Gallup's consumer survey of daily spending on a 3-day and 14-day rolling average was about the same as it was one year ago at $81 and $91, respectively.

Meanwhile, the National Retail Federation (NRF), which measure retail plus food sales, has maintained its Christmas forecast growth rate of 3.9%, but the trade group stated that discounting is weighing on overall sales. ShopperTrak forecasts 10% fewer shoppers will visit brick and mortar stores this Christmas season compared with 2012.
About 18% Purchase Jewelry This Season

Prosper Insights & Analytics found that 49.9% of those in the U.S. who have not yet finished their Christmas gift buying expect to do so online, marking the highest percentage in the survey's history. The group conducted research on behalf of the NRF and also found that 45.4% of shoppers expect to finish gift buying at a favorite department store, while 37.4% expect to wrap up shopping at discount stores.

The most popular gift items so far have been apparel, representing 49.6% of gifts purchased, toys at 38.7%, electronics at 26.6%, personal care items at 19.6%, home-related decorations/items at 18.4% and jewelry at 17.5%. Slightly more than 34% have purchased gift cards.

U.S. online Christmas-season retail sales rose about 10% year on year to reach $37.8 billion for the period of November 1 through December 15, 2013, according to comScore Inc. Growth was running slightly lower than forecast of 14%, but the group maintains its target as the heaviest spending week of the year was yet to be included.

Inventory High for Sales Forecast

Independent small business owners rode into the Christmas season with a very cautious outlook, according to the National Federation of Independent Business (NFIB). Overall, sentiment increased less than one point to what the group called a ''dismal'' 92.5, coupled with ''lots of dismal views'' of the economy coming in 2014.

NFIB's Index has a “trading range” between 86.4 and 95.4 since the Great Recession, down from an average reading of 100 points from 1973 through 2007. The net percent of owners expecting higher real sales in December rose 1 point to 3% after falling 6 points in October, NFIB found. The pace of inventory reduction continued with a seasonally adjusted net negative 7% of owners reporting growth in inventory, 1 point worse than in October.

The negative outlook for the economy and real sales shows that inventory levels are too high and the net percent of owners planning to add inventory this month was a net 0%.

Kristall's Sales to Drop

Kristall estimated that its sales were 14% lower year on year at $360 million for 2013, according to an exclusive interview through Interfax. Cut diamond production is expected to show a 7% drop to 160,000 carats. The company called today's polished market at ''rock bottom,'' jewelers are ordering smaller, lower-quality stones and profit margins for diamond cutters is tighter than ever. Additionally, Kristall stated that there are no fundamental reasons for polished prices to increase anytime soon.

Loehmann's to Liquidate Quickly

U.S. retail chain Loehmann’s filed for Chapter 11 bankruptcy on Monday after failing to find a buyer as a going concern and claimed assets of between $50 million and $100 million, far less than liabilities of between $100 million and $500 million. Loehmann’s, which offers some jewelry, is selling the right to hold a going-out-of-business sales at its 39 locations during an auction in early January, with liquidation expected to begin in the middle of the month.

Retail analyst Howard Davidowitz of Davidowitz & Associates explained that Loehmann's lost its critical mass customer to larger chains, especially since most retailers are selling nearly the same merchandise at the same or lower price point. ''We are in the most promotional holiday season in 20 years. That's what Loehmann's ran into, and that's why they filed now,'' he concluded.

Jared Opens in Carle Place

Jared The Galleria Of Jewelry opened in Carle Place, New York, marking the jewelry retailer's 200th store. Jared opened its very first store 20 years ago at the Plaza at Chapel Hill in Cuyahoga Falls, Ohio. Jared stores offer diamonds, gold, colored gemstones and luxury Swiss timepieces at a variety of price points. Brands include Neil Lane Bridal and Neil Lane Designs, Open Hearts by Jane Seymour, the Leo Diamond, Tolkowsky, Sea Magic Cultured Pearls by Mikimoto, LeVian and many more.

Titan Reaches Store Count Milestone

Titan Company Ltd. celebrated a company milestone in opening its 1,000th retail store this week. The company retails in the watches, jewelry and eyewear sectors with a footprint in 177 cities, 26 states and three Union Territories. The company's most famous diamond jewelry line is under the Tanishq brand. The new store in Bangalore marked a fascinating retail journey that began in that city in 1988 with its World of Titan watch store at Safina Plaza.

Bovet 1822 Opens in NYC

Swiss timepiece manufacturer Bovet 1822 opened its new flagship store at 50 Central Park South in Manhattan on December 12. This boutique is the brand's fourth location after Moscow, Baku and Berlin and sits directly across the street from Central Park in the base of the Ritz-Carlton Hotel. Bovet 1822 created a new collection, featuring 50 timepieces unique to the New York address and engraved to commemorate the grand opening. These timepieces will not be sold anywhere else.

Diamond Show Debuts in Basel

A new exclusive diamond show featuring the best diamonds from the world’s leading diamonds manufacturers and dealers will open in Basel, Switzerland on March 27. The show will be located in the iconic Markthalle building, only 300 meters from the Basel SBB train station and will be open to the trade, as well as private collectors and investors. The Diamond Show will provide an innovative trading environment for buyers and sellers of diamonds and diamond jewelry with direct access to 60 of the best diamond manufacturers and dealers in the world. It will also include a specialized salon for natural fancy colored diamonds.

For more information visit:

IDCA Elects Officers

The Indian Diamond & Colorstone Association (IDCA) Inc. announced the names of its board of directors for 2014.

President, Mehul Shah of Shivani Gems Inc.
Vice Pres., Ashok Sancheti of Pioneer Gems
Secretary, Prakash Mehta of Interings Inc.
Treasurer, Nilesh Sheth of Nice Diamonds Inc.
Joint Sec., Sourabh Lashkery of Gemorex Intl.

Rakesh Barmecha of Niru NY Ltd.
Sushil Goyal of Liberty Gems Inc.
Anu Hirawat of Vimco Diamond Corporation
Kailash Jhalani of Prompt Gem Importers Inc.
Alok Mehta of IDD
Atit Mehta of Atit Diamond Corporation
Jay Mehta of Paras Diamond Corporation
Rayaz Takat of Takat Gems USA Inc.

Russia's Rough Exports +70%

Russia's Finance Ministry told Interfax that the country exported 7.781 million carats of rough diamonds in the third quarter of 2013, up 70% from one year earlier. By value, rough diamond exports surged 42% to $979 million. The top destination for rough diamonds was Antwerp, followed by Surat and Dubai

Google Ranks Top Searches

Google tracks and then mined search word data for the past year to create a top search trends report, touching upon numerous subject areas in which that the top jewelry brands were Gucci, Kendra Scott, Sucre, Jennifer Meyer and Jennifer Fisher and Gemfields (owner of Faberge).

Overall, the top apparel brands and retailers included Kohl's, JCPenney, Nordstrom, Forever 21 and Victoria's Secret. Specifically for ''diamonds'' search, the terms diamond ring, engagement ring and Helzberg Diamonds all featured prominently, while Pandora garnered a high ranking from ''jewelry'' searches.

Yinren Group Acquires Antwerp Diamond Bank

The Shanghai-based Yinren Group will purchase Antwerp Diamond Bank (ADB) from KBC for an undisclosed sum. The deal is subject to regulatory approval and pending closure, ADB remains committed to continuing its business activities and serving its customers, according to KBC. The sale of ADB is expected to have only a negligible upfront impact on the KBC group's earnings but it is expected to free up about $137 million worth of capital for KBC, primarily by reducing risk-weighted assets, which will ultimately improve KBC's tier-1 ratio (Basel II).

The Yinren Group is a diversified enterprise group with activities in real estate, international trade and the diamond industry. The group has operations in mainland China, Hong Kong and Brazil.


Petra Sells Two Large Stones

Petra Diamonds Ltd. sold a 126.40-carat rough diamond for $8.52 million, or $67,405 per carat, along with a 91.50-carat rough stone for $3.78 million, or $41,311 per carat, during a special tender this month. Petra recovered the two exceptional diamonds in November. In addition to these two stones, Petra reported that it recorded solid prices at the December tender but provided no further details. Petra intends to publish a trade update on January 28 for the six month period that ends on December 31.

Kimberley Diamonds Raises $11M

Kimberley Diamonds, the owners of the Ellendale mine in Australia, raised $10.8 million through a private share placement of 12 million new shares that were priced at 90 cents each. The proceeds will be used to fund re-starting costs at the Ellendale 4 mine and the company's Lerala mine in Botswana.

Peregrine Raises $3M

Peregrine Diamonds Ltd. arranged a non-brokered private placement of 4,616,222 common shares at a price of 65 cents per share for gross proceeds of $3 million. The common shares that were issued under the placement will be sold on a flow-through basis, pursuant to the Income Tax Act (of Canada) and purchased by institutional investors. A cash fee equal to 6% of the gross proceeds will be paid as a finder's fee to Secutor Capital Management Corporation. Proceeds from the placement will be used for Peregrine's mineral exploration projects in Canada, including Chidliak.

Botswana Diamonds Raises $882K

Botswana Diamonds has conditionally raised $882,000 in cash through issuing 21.6 million new ordinary shares at 1 pence each, plus two warrants per new share, forming one unit, at a price of 2.5 pence each. The junior explorer also settled $327,000 of existing liabilities with directors of the company by issuing units and, in aggregate, issued 29.6 million new shares and 59.2 million warrants, each of which have the right to subscribe for one new ordinary share at 2.5 pence per share for a period of six months.

Minister Disbands Boards

Zimbabwe's Mines Minister, Walter Chidhakwa, dissolved the management boards of the Zimbabwe Mining Development Corporation (ZMDC), the Minerals Marketing Corporation of Zimbabwe (MMCZ) and Marange Resources -- all of which are on the U.S. sanctions list. The minister said that duties and functions of those boards will be assumed by the permanent secretary of the Ministry of Mines and Mining Development, professor Francis Gudyanga, until the appointment of new boards.

The NewsDay newspaper said the shakeup was linked to the alleged disappearance of 1.3 million carats of diamonds in 2010, following the breakdown of Canadile Mining, a failed joint venture diamond mining firm involving the ZMDC.

Kennady's Sample Grade Improves

Kennady Diamonds Inc. recovered approximately 3,454 kilograms of kimberlite from 21 holes drilled at the northwest lobe of the Kelvin kimberlite at the Kennady North diamond project this past summer. The kimberlite was processed at the Geoanalytical Laboratories Diamond Services at the Saskatchewan Research Council and returned an average sample grade of 4.56 carats per tonne. Two drill campaigns have now produced a combined sample grade of 5.38 carats per tonne. A total of 362 commercial-size diamonds were extracted from the summer drill program and 112 were produced during the Kelvin 2013 winter drill program.

Paragon Buys Processing Plant

Paragon Diamonds Ltd. agreed to buy the Mothae kimberlite processing plant in Lesotho from Lucara Diamond Corporation through its subsidiary Meso Diamonds. Paragon Diamonds expects to relocate the plant in the first quarter of 2014 after minimal site preparations at its Lemphane project. Under the terms of the agreement, Meso Diamonds will pay to Lucara Diamond a consideration of $1.15 million, comprised of $50,000 cash and $400,000 in new Paragon Diamonds shares at a price of 5.5 pence per share upon signing the asset purchase agreement, followed by $200,000 cash and $500,000 in new Paragon Diamonds shares at a price of 5.5 pence per share on completion of the plant's relocation.

Paragon Diamonds plans to initiate a first stage of production by the third quarter of 2014, covering a two year period and recovering at least 20,000 carats at an estimated average value of $750 per carat.


Diamond Industry Stock Report

U.S. shares mixed but trading close to flat, except for JCPenney (-7%). Europeans shares up by low single-digits, while Indian shares mainly down. Mining shares mixed with Rockwell (-10%) and Shore Gold (+8%) defining the spread. View the extended stock report.

Dec. 19 Dec. 12 Chng.
$1 = Euro 0.732 0.727 0.005
$1 = Rupee 62.17 61.82 0.3
$1 = Israel Shekel 3.51 3.50 0.01
$1 = Rand 10.41 10.39 0.02
$1 = Canadian Dollar 1.07 1.06 0.01

Precious Metals
Gold $1,189.10 $1,227.20 -$38.10
Platinum $1,316.00 $1,357.00 -$41.00

Stock Indexes Chng.
BSE 20,708.62 20,925.61 -216.99 -1.0%
Dow Jones 16,179.08 15,739.43 439.65 2.8%
FTSE 6,584.70 6,445.25 139.45 2.2%
Hang Seng 22,888.75 23,218.12 -329.37 -1.4%
S&P 500 1,809.60 1,775.50 34.10 1.9%
Yahoo! Jewelry 938.84 930.68 8.16 0.9%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Dec. 27, 2013

U.S. holiday sales exceed low expectations despite consumer caution. Diamond trading centers quiet as U.S. and Belgium markets close for Christmas. Markets now focusing on Chinese New Year demand. Rough markets stable with increased manufacturing to relieve polished shortages. Liquidity challenges persist. Courts order Tiffany to pay Swatch $450M in contract dispute. Antwerp Diamond Bank sold to Yinren Group. Marange Antwerp tender sells 279,723 cts. for $10.7M ($38/ct.). Belgium’s Nov. polished exports -1% to $1.1B, rough imports -1% to $1.1B. Hong Kong 3Q polished imports +15% to $4.8B. All of us at Rapaport wish you and yours a happy, healthy, prosperous and peaceful New Year.

RapNet Data: Dec. 26

Diamonds 1,041,938
Value $6,730,979,303
Carats 1,158,277
Average Discount -27.71%

Get Current Price List | Subscribe to Rapaport | Join RapNet


Rapaport Melee Auction

New York & Dubai

View details.


Rapaport Single Stone Auction

New York & Israel
The Diamond Show

Markthalle Building, Basel, Switzerland

Visit - Exhibit - Learn More:

You can't get a suit fitted on the Internet. You can't get a bra fitted on the Internet; you can't win a great prize, you can't be in line and have a bit of fun, and that's what it's about. We've got to recreate that theater in-store to bring customers back.

Bernie Brookes | Myer


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


U.S. Jewelry Sales +9%

Jewelry sales in the U.S. during November, which kicked off the Christmas shopping season, rose 9.1% year on year, according to preliminary government figures, maintaining a 12-month running total of $72.6 billion. Sales of watches increased 11.3%, representing an annual total of $9.9 billion. Meanwhile, the U.S. consumer price index (CPI) for jewelry in November was flat, while it increased 3.9% for watches.

Comparatively, department store sales in November fell 4.3% year on year to $17.47 billion. Department store sales have had a difficult year, falling 5% for the first 11 months of 2013 to $150 billion. Retail sales for all product categories in November rose 4.7% year on year to $432.3 billion. Retail trade sales increased 4.6% year on year and nonstore retail sales improved 9.4% compared with November 2012.

Analytics firm RetailNext determined that foot traffic to stores fell 2.8% year on year in November; however, conversions rose so sales improved 1%. When coupling Black Friday with Thanksgiving Day, overall traffic was up 1.3%, according to RetailNext and total sales for both days increase 5.8% compared with the same holiday weekend in 2012

U.S. Jewelry CPI Flat

The U.S. consumer price index (CPI) for jewelry was basically flat, or down by just 0.5%, year on year at 176.16 points in November; however, the reading was 1.5 points lower than October a full three points lower than September's index. The highest CPI was 183.19 points in January 2012. The average monthly CPI for the first 11 months of the year was 0.3% lower year on year at 177.78 points.

The jewelry CPI reading in November marked its 34th consecutive month with a reading of more than 170 points, continuing to maintain a historically strong inflation trend. After reaching a record early in 2012, the prices of gold, platinum and diamonds have remained under pressure, contributing to a slightly lower CPI for most of this year. Gold was about 27%lower year on year in November and platinum was down by nearly 15%. The RapNet Diamond Index (RAPI), the global benchmark for polished diamond prices, dropped 4.7% year on year for 1-carat diamonds in November, the index for 0.50-carat diamonds fell 1.7% and it declined 2.9% for 3-carat stones. However, RAPI for 0.30-carat diamonds jumped 8.2% in November.

U.S. Seasonal Retail Sales +2%

Depending upon which measurements are used, U.S. Christmas sales forecasts remained in the range of 1% to better than 3%. But according to preliminary figures, MasterCard Advisors SpendingPulse was the most optimistic so far, claiming that key product sales rose 2.3% year on year during the November 1 through December 24 period. Jewelry sales outperformed its competing categories such as apparel and electronics, according to SpendingPulse.

However, ShopperTrak estimated that retail sales had increased 2% during the period as in-store retail sales fell 3.1% year on year for the week that ended on December 22 and foot traffic plunged 21.2%. ShopperTrak observed that despite markdowns and promotional efforts, sales slipped 0.7% on Super Saturday, which was December 21 and in-store traffic decreased 18.1%. ShopperTrak maintains that post-Christmas markdowns and sales will drive robust retail sales and store traffic in the days to come, particularly on December 26 and 28.

As for ecommerce, comScore found that retail sales rose 10% to $42.8 billion from November 1 through December 22, which was below its prediction of a 14% increase.

Amazon Reveals Top Jewelry Gifts told investors that it completed its most successful Christmas season to date and shipped merchandise to 185 countries. The online retailer's membership program, Amazon Prime, registered 1 million new subscribers in the week leading up to Christmas, which technically qualified them for free two-day shipping on many items.

While there were a number of popular Christmas gifts, Amazon listed three jewelry items that made its best sellers list this season. The top gift was a set of sterling silver and amethyst flower earrings that retailed for about $55 from Amazon Curated Collection; a sterling silver "I Love You To The Moon and Back" two-piece pendant necklace from SilverCloseOut that was listed for $22.95 and a ''Tree of Life'' silver, expandable bracelet from jeweler Alex & Ani that sold for about $28.

Shree Ganesh Plans Restructuring

Shree Ganesh Jewellery House Ltd. requested debt restructuring with the State Bank of India (SBI). The process is a mechanism that permits viable companies additional time to meet debt obligations, subject to certain terms and conditions, besides providing a path to restructure debt. Shree Ganesh Jewellery went public in 2010 and it is engaged in trading, manufacturing and exporting gold and diamond jewelry.

Tiffany Lowers Guidance After Settlement

Tiffany & Co. was ordered to pay $449.5 million (CHF 402.7 million) to Swatch Group over their failed joint venture. Tiffany & Co. lowered its earnings guidance about 37% following the court ruling in Holland to between $2.30 and $2.35 per share. Tiffany & Co. and Swatch established a partnership in December 2007 to produce and market watches, but the deal ended in a bitter and expensive court battle. Swatch sued Tiffany in December 2011 for breach of contract, prompting Tiffany to countersue a few months later.

In addition to the arbitration penalty, Tiffany & Co. must also pay approximately $800,000 to cover two-thirds of the arbitration costs and reimburse Swatch an amount of $8.8 million for legal fees and expenses incurred by the group.

Bloves Receives Funding

Shanghai-based The BLOVES, a firm that customizes and sells diamond and wedding rings, announced it had received $30 million in funding from Hong Kong-based Omaha Capital China. The BLOVES stated that some of the capital will be used to build a customization center and additional funds will be used to integrate upstream resources including global diamond resources.

India Revisits SEZs Rules

India's department of commerce claimed that some manufacturers are using special economic zones (SEZs) to import diamonds illegally in an effort to avoid paying duty. SEZs were set up specifically for adding value to imported products for the purpose of exporting finished goods. The government is considering a ban on diamond and gem imports to SEZs, according to The Economic Times, while it introduces stringent rules on what defines added value to the final product. Officials found several firms in Surat's SEZ were trading gold, pearls and diamonds locally rather than manufacturing these items for exporting to other destinations. The duty on diamonds is 2%, gold's import duty rose this year to 11.5%.

Lypsa Approves Hong Kong Deal

The board of directors for Lypsa Gems & Jewellery Ltd. approved creating a subsidiary in Hong Kong, though a time frame was not provided. Lypsa Gems & Jewellery is based in Mumbai and it has affiliates in Antwerp, Dubai and Moscow. The company's manufacturing facilities are located at Navsari and at SurSez, Surat. The diamond firm specializes in rough preparation and distribution, catering to small and mid-size diamond manufacturers based in Mumbaj.


ALROSA Elects Board

ALROSA's shareholders voted to elect 15 supervisory board members including the following:

Fyodor Andreev, ALROSA's president and CEO; Sergey Barsukov, a director of the financial policy department for Russia's Ministry of Finance; Pavel Borodin, a vice president at VimpelCom; Ivan Demyanov, a vice president at ALROSA; Sergey Dubinin, the chairman of the supervisory council for VTB Bank; Dmitry Zakharov, the general director of RIC-Finance; Valentina Kondratyeva, Yakutia's head of state autonomous agency center for strategic research; Nadezhda Kononova, the deputy general director of Republican Investment Company; Vasily Lukyantsev, the first deputy head of administration for Lensk district municipality; Sergey Mestnikov, the first deputy minister of Yakutia's property and land relations; Denis Morozov, a representative of Russia's board of directors of the European Bank for Reconstruction and Development; Nina Osipova, a deputy finance minister in Yakutia; Oleg Fyodorov, an adviser to the head of Federal Agency for State Property Management; Alexander Shokhin, the president of the Russian Union of Industrialists and Entrepreneurs and Ilya Yuzhanov, a board member for OTKRITIE Financial Corporation.

ALROSA's shareholders also voted to approve the revised version of regulations for the remuneration of the supervisory board members. The election was also convened following the tragic deaths of former board members Victor Yefimov and Alexander Morozkin.

CEBR Ranks Future Economies

The Centre for Economics and Business Research (CEBR) forecasts China to overtake the U.S. as the world's largest economy in 2028 with a gross domestic product (GDP) valued at $33.5 trillion and, at the same time, India will overtake Japan to become the third largest economy with a GDP valued at $6.6 trillion. Other noteworthy predictions take place beforehand. Brazil is forecast to overtake the U.K. and Germany as the fifth largest economy in 2023 with a GDP of $3.8 trillion. The U.K. is predicted to become the fifth largest economy in 2018 with a GDP of $3.1 trillion, overtaking France, but then it will slip behind Brazil and India in 2023 and settle at No. 6 behind Germany in 2028.

By 2028, France (No. 5 in 2013) and Italy (No. 9 in 2013) drop out of the top 10 world economies, while Russia maintains its spot at No. 8, Mexico joins the top 10 at No. 9 and Canada holds its position at No. 10.

Rapaport Partners With Show Provider

U.S. Antique Shows partnered with the Rapaport Group for its jewelry trading platform and brokerage services to provide an efficient platform for companies to trade at the shows, granting buyers access to jewelry from around the U.S. and providing suppliers with the ability to sell jewelry to a large buyer base. The Rapaport Group will be selling a large assortment of closeout, estate and signed jewelry at The Original Miami Beach Antique Show in January. In addition, the Rapaport Group will sponsor the LA Antique Jewelry & Watch Show, the Las Vegas Antique Jewelry & Watch Show and New York Antique Jewelry & Watch Show in 2014. Rapaport Group’s partnership also includes booths at both The Original Miami Beach Antique Show and Las Vegas Antique Jewelry & Watch Show.

Zimbabwe Plans Second Tender in Antwerp

Zimbabwe plans a second tender of Marange diamonds at the Antwerp World Diamond Centre (AWDC) from February 12 to 19 following a $10.7 million sale of rough stones earlier in December. The tenders were made possible after the E.U. eliminated sanctions against the Zimbabwe Mining Development Corporation (ZMDC), which is still under U.S. sanctions as is diamond miner Marange Resources and Diamond Mining Company. The second tender anticipates offering rough diamond parcels from the aforementioned firms along with Anjin Investments, Jinan and Kusena Diamonds.

Available diamonds are expected to varying widely in quality and size, state of cleaning, sorting and composition. Zimbabwe's treasury designates a 15% royalty on the sale of diamonds that originate from its mines. In his 2014 national budget, Zimbabwe's Finance and Economic Development minister, Patrick Chinamasa, said that President Robert Mugabe directed the treasury and the Ministry of Mines to reform the industry to ensure greater transparency, according to the Zimbabwe Independent newspaper. The president ordered a tripartite control overseeing diamonds, including the ministries of state finance, mining development and the Minerals Marketing Corporation of Zimbabwe (MMCZ), which is also on the U.S. sanctions list.


Diavik Meets Compliance Specs

Diavik Diamond Mines Inc. successfully obtained the International Organization for Standardization (ISO) and Occupational Health and Safety Advisory Services (OHSAS) recertifications for its health, safety, environment, and quality systems. Det Norske Veritas Certification Inc. (DNV), a Norwegian classification society, conducted external audits before awarding certification at the mine's site outside of Yellowknife. The recertification process entailed a comprehensive evaluation of Diavik’s strategic business systems, procedures and a compliance assessment. ISO recertification is conducted every three years after two annual surveillance audits.

NDTC Declares Dividend

The Namibia Diamond Trading Company (NDTC) declared a dividend of $7.72 million (NAD 80 million), the second of the year following a payout of $3.9 million earlier. NDTC's joint shareholders include the government and De Beers. The company estimated that 2013 revenue was likely to have increased 26% year on year to $1.06 billion.

Lucara's Resource Estimate Grows

Lucara Diamond Corporation updated its resource estimate for the Karowe diamond mine in Botswana, resulting in a greater than $1 billion increase in the estimated in-situ value of the indicated mineral resource. The update was completed by Mineral Services Canada Inc. and took into account the mine's production of high-value stones since production started in April 2012. The updated mineral resource was based on the large amount of new information generated since the start of production at Karowe.

The presence of exceptional stones within the center and south lobes is now reflected in the size frequency distributions and the modeled average price. In 2013, Lucara sold more than 438,000 carats of diamonds for gross proceeds in excess of $180 million. Included in these were 23 diamonds that each sold for over $1 million, including nine diamonds which sold for more than $3 million each.



Nov. $Mil. %Chng. YTD $Mil. %Chng.
Polished exports $1,140 -1% $12,847 5%
Polished imports $1,004 -3% $12,424 2%
Net exports $136 12% $423 416%

Rough imports $1,086 -1% $12,138 7%
Rough exports $1,289 12% $13,308 10%
Net imports ($203) ($1,170)

Net diamond account $339 448% $1,593 80%

Hong Kong

3Q $Mil. %Chng. YTD $Mil. %Chng.
Polished imports $4,783 15% $13,667 13%
Polished exports $3,091 15% $8,894 2%
Net imports $1,692 15% $4,773 24%

Rough imports $469 48% $1,425 19%
Rough exports $641 55% $2,023 47%
Net imports $172 ($181)

Net diamond account $1,520 11% $2,855 -22%

Diamond Industry Stock Report

U.S. retailers were mainly higher now that Christmas season is over and sales appear to have improved by low single-digits. Indian firms mixed with Gitanjali (+33%) and Rajesh (-11%) defining the spread. Mining shares were mainly even except for Lucara (+16%) and Gemfields (-5%). View the extended stock report.

Dec. 26 Dec. 19 Chng.
$1 = Euro 0.730 0.732 -0.002
$1 = Rupee 61.90 62.17 -0.3
$1 = Israel Shekel 3.49 3.51 -0.02
$1 = Rand 10.36 10.41 -0.05
$1 = Canadian Dollar 1.06 1.07 -0.01

Precious Metals
Gold $1,211.10 $1,189.10 $22.00
Platinum $1,354.00 $1,316.00 $38.00

Stock Indexes Chng.
BSE 21,074.59 20,708.62 365.97 1.8%
Dow Jones 16,479.88 16,179.08 300.80 1.9%
FTSE 6,694.17 6,584.70 109.47 1.7%
Hang Seng 23,179.55 22,888.75 290.80 1.3%
S&P 500 1,842.02 1,809.60 32.42 1.8%
Yahoo! Jewelry 946.89 938.84 8.05 0.9%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Jan. 3, 2014

Diamond prices firm in December as difficult year ends on a positive note. 2013 RapNet Diamond Index (RAPI) for 0.30ct. +10.1%, 0.50ct. -0.7%, 1ct. -4.5%, 3ct. -4%, Rapaport Melee Index (RMI) +3.6%. Markets quiet with improved sentiment after positive U.S. holidays and record stock market year-end close. Expectations rise for Chinese New Year despite cautious economic outlook. Far East gold demand strong as prices plunge 28% in 2013. Indian diamond manufacturing below capacity with tight liquidity. Rough trading stable but manufacturers expected to restrain buying as bank credit tightens.
RapNet Data: Jan. 2

Diamonds 1,011,938
Value $6,404,245,926
Carats 1,112,930
Average Discount -27.75%

Get Current Price List | Subscribe to Rapaport | Join RapNet


Rapaport Melee Auction

New York & Dubai

View details.


Rapaport Single Stone Auction

New York & Israel

The Diamond Show

Markthalle Building, Basel, Switzerland

Visit - Exhibit - Learn More:
People from around the world are being attracted to Dubai during Dubai Shopping Festival because of the many life changing stories that have been created here, thanks to our mega raffles, such as the gold promotion. In fact, this annual gold raffle has contributed to a tremendous inflow of tourists during Dubai Shopping Festival, as they have discovered that Dubai, the City of Gold, is the best place to buy gold and jewelry.

Saeed Mohammad Mesam Al Falasi | Dubai Festivals


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


Hong Kong's Nov. Jewelry Sales +8%

Hong Kong's retail sales increased 8.5% year on year in November to $5.1 billion (HKD 39.6 billion), while the volume of items sold rose 9%. Year-to-date retail sales are up 11.6% to $57.3 billion. Revenue from the category of jewelry, watches, clocks and valuable gifts increased 8.3% during the month to $1.1 billion.

Sales from the jewelry and gift category in the first 11 months of the year have risen 24.6% to $13.77 billion. The government determined that the volume of sales for jewelry, watches and clocks jumped 13.3% in November, whereas it improved 7.6% for apparel, 6.4% for footwear and accessories and volume fell 7.4% for motor vehicles sales.

U.S. Jewelry Show Ownership Consolidates

The Onex Corporation will acquire George Little Management LLC (GLM) through its subsidiary Emerald Expositions for $335 million, subject to certain adjustments at closing. In June, the company's private equity fund, Onex Partners III, acquired Emerald Expositions, which operates 65 tradeshows and brands, including Couture, JA New York, Special Delivery New York and the National Jeweler website.

GLM operates business-to-business (B2B) events for the lifestyle, design, product sourcing and antique sectors, including antique and jewelry shows in Los Angeles, Las Vegas, Miami and New York. Onex stated that it believed it could grow Emerald Expositions through accretive add-on acquisitions of smaller exhibition businesses. Onex Partners III will make an equity investment of approximately $140 million to acquire GLM, of which Onex's share is approximately $34 million. The balance of the acquisition total will be funded with debt financing. The transaction is anticipated to close in January 2014
Pure Gold's Sales Rise

Pure Gold Jewellers reported double-digit sales growth in 2013, and while the retailer didn't provide hard totals, stronger sales were driven by lower gold prices and better than expected performance during the Dubai Shopping Festival, Eid and Diwali.

“Growing consumer confidence and tumbling gold prices resulted in higher sales for us in 2013. Low prices also gave us more room to offer better bargains to customers,” stated Firoz Merchant, the chairman of Pure Gold Jewellers. “This year we also entered Saudi Arabia and Sri Lanka, and we have experienced significant growth in these markets.” Merchant also noted that the company will expand next year within the Gulf Cooperation Council (GCC), or countries bordering the Persian Gulf. Pure Gold Jewellers will open 17 new stores in Qatar, Kuwait, Saudi Arabia and in the United Arab Emirates (UAE).

Michael Kors Same-Store Sales +20%

Retail Metrics estimated that Michael Kors' same-store sales in December jumped 20.4%, even with heavy discounting during the highly promotional Christmas season. The retailer has observed its revenue double since 2011 and Retail Metrics predicted sales to hit $3 billion this fiscal year. Michael Kors has effectively captured key designer trends of every season and offers it to the masses as affordable luxury, according to analysts.

Michael Kors has captured market share from other luxury and aspirational luxury brands, according to Marshal Cohen of the NPD Group. Michael Kors is expecting to advance its footprint by 40 stores in Europe this year and expects to eventually support 400 stores across North America, up from the current 264.

Nepal Weighs Gold Purity Rates

The Nepal Bureau of Standards and Metrology (NBSM) is preparing to file legal claims against six jewelers for selling 24-karat gold below government purity standards of 99.5%. According to a report by the Republica newspaper, a government inspection of the jewelers also found silver content had been mixed into the gold.

The newspaper reported that 24-karat gold products failed to meet the requirements from Shree Sunrise Jewelers, Baba Jewelers, Good Luck Jewelers, Suryamukhi Jewelers, Shree Ma Aarati Jewelers and Shree Jay Laxmi Gahan Griha. However, Mani Ratna Shakya, the president of the Federation of Nepal Gold and Silver Dealers´ Associations, told the newspaper that government monitoring teams did not include bullion experts and that the purity tests were unscientific and unacceptable
GIA Revises Report Format

The Gemological Institute of America (GIA) introduced a revised format for its diamond grading and gem identification reports beginning January 1. GIA will offer no-cost reissues for reports that are dated from July 1, 2013 through December 31 upon request. Reissues of reports dated January 1, 2013 through June 30 will be available for a nominal fee. The previous reports must be returned to GIA before the reissues can be processed.

Laboratory clients may check or contact their GIA client service representatives for further information. The new reports have dimensions similar to the prior versions but they will consume less paper and other materials; and they have enhanced security features including a unique and durable proprietary paper. QR codes printed on each report will provide direct access to GIA’s online report check service, which allows clients and consumers to confirm the authenticity of GIA grading and identification reports with their smartphones.

Laxmi Opens Admin Offices

The Laxmi Diamond Group inaugurated its new administrative office building near Gajera Circle in Katargam, Surat, in December. The space boasts the latest in equipment and technology, according to the firm, and includes 231,000 square feet with 20% dedicated to manufacturing high-quality diamonds. Laxmi employs 2,500 personnel at the new space, which marks the company's fifth property in Gujarat.

PC Jeweller Presents Spectrum

PC Jeweller presented its new jewelry line, Spectrum, at all of its 39 showrooms across India this week. The company defined the Spectrum collection as one that keeps diamond jewelry ''light and easy'' to wear as younger consumers shift their tastes in that direction for earrings, bracelets, pendants and jewelry Spectrum was inspired by the colors of the rainbow and designs highlight diamonds and colored stones and trendy shapes in yellow or white gold.

Price points are generally in the $160 (INR 10,000) to $2,000 (INR 120,000) range. The company created a special counter display at its showrooms for the Spectrum line that it believes will encourage consumer interaction.
Market to Women on Pinterest

Pew Research Center concluded that 73% of U.S. adults who are online use social networking websites with Facebook being the most dominant, accounting for 71% of adults in 2013 compared with 67% in 2012. However, brand marketers must expand their reach beyond Facebook, since 42% of adults now use multiple social networking sites on a weekly basis.

While Facebook is the most demographically diverse, Pinterest holds appeal to female users where they are four times as likely to be sharing and collaborating as men, and LinkedIn is especially popular among college graduates and Internet users in higher income households. Twitter and Instagram have particular appeal to younger adults, urban dwellers and non-whites and there is substantial user overlap.

The report noted that Facebook has high levels of engagement among its users with 63% visiting the site at least once a day, 57% of Instagram users visit its portal daily and 46% of Twitter users are daily visitors
TBZ, Kiran, Laxmi Win Awards

The third annual IJ Jewellers Choice Design Awards were unveiled during the Jaipur Jewellery Show and presented by Indian Jeweller magazine. The awards recognized innovative and creative designs this year across 12 categories, most of which were grouped by price points. Some of the top winners included Kiran Jewels (Kiran Gems) of Mumbai and Mirari of New Delhi for diamond jewelry; Sona Chandi of Kanpur and BR Designs Pvt. Ltd. of Surat for colored stones; Raniwala Jewellers Pvt. Ltd. of Jaipur and Laxmi Jewellery Export Pvt. Ltd. of Ahmedabad for gold jewelry; KGK Entice Pvt. Ltd. of Jaipur and Tribhovandas Bhimji Zaveri (TBZ) Ltd. of Mumbai for designer pieces and the best bridal went to Kalajee Jewellery of Jaipur, TBZ and Aisshpra of Gorakhpur.


U.S. Small Biz Confidence Mixed

Small business owners in the U.S. are slightly more pessimistic today than one year ago, according to the Wells Fargo/Gallup Small Business Index. Of 605 small business owners who were interviewed for the survey, Gallup found that 28% evinced less optimistic feelings about their future in 2014, while 23% said they had a slightly more positive outlook than one year ago. Forty-nine percent of the respondents stated that their sense of optimism was unchanged from December 2012.

About one-quarter of business owners believe that operating conditions would even worsen in the new year, while an equal number foresee improving conditions. These small business owners’ apprehensions about the new year were basically split between government and business factors, ranging from the potential effect of the Affordable Health Care Act, to federal and state taxes, both of which are out of their control. The other half of respondents were more concerned with traditional business issues, such as developing successful, competitive marketing strategies and hiring issues in the year ahead.

U.S. Confidence Steady

U.S. consumer confidence rose steadily during December but it remained in negative territory, according to the Gallup Economic Confidence Index. For the week that ended on December 28, Gallup found that consumer confidence measured at negative 17, significantly improved from negative 39 in mid-October during the federal government shutdown. But the December index reading wasn't much improved from negative 21 points at the beginning of the year.

The index's best performance in 2013 came in early June at which time index was at negative 3 points and the index's average for the year was negative 16, according to Gallup. Even still, Gallup's Economic Confidence Index average for 2013 was the best performance in the survey's six-year history and it was up from an average of negative 21 points in 2012. Gallup surmised that for the index to finally breach into positive territory, consumers must see clearer signs of an economic recovery and friendlier and more productive politics in Washington D.C. as opposed to the gridlock and brinkmanship of the past year.

EU Renews GSP for 90 Countries

The European Union (EU) reduced the number of country participants in its generalized system of preferences (GSP) scheme in 2014 to 90 from 177 last year. The revised scheme continues to reduce or eliminate tariffs on most traded goods including pearls, precious or semi-precious stones and metals, clocks and watches and imitation jewelry from Angola, Liberia, Sierra Leone, Myanmar, Sri Lanka, Armenia, China and India, to name the top diamond and gem participants.

Sri Lanka's government issued a statement thanking the EU for renewing its GSP status, claiming great benefits from the scheme in recent years for the trading of diamonds and gems as well as tea and rubber. Trade between Sri Lanka and the EU in the previous year approached $5 billion. The GSP ended this year for some majors in the diamond industry, including the United Arab Emirates (UAE), Russia, Cote d'Ivoire, Zimbabwe, Namibia and Botswana.

Fiera di Vicenza Names Pres.

Fiera di Vicenza's new board named Matteo Marzotto as the group's president. Marzotto's name was put forward by the group's shareholders. The announcement was made as Fiera di Vicenza prepares for its most important event of the year -- the VICENZAORO winter jewelry show -- which will be held January 18 to 23.

Marzotto, 47, has been the president of Fondazione CUOA, one of Italy's most important business schools, since June 2013. He has served as president of the non-profit organization Associazione Progetto Marzotto since October 2012 and as president of the Mittelmoda Fashion Awards since September 2008. As an entrepreneur, in January 2009 he acquired and subsequently relaunched the Vionnet fashion house, serving as president of Vionnet S.p.A until January 2013. Prior to that role, he worked for 15 years in his family's group of companies and from 2003 to 2008 he also served as chief operations officer and then as president of Valentino S.p.A.


Kennady Raises $2M

Kennady Diamonds Inc. closed its non-brokered private placement of flow-through common shares, achieving proceeds of $2,290,484 for 398,345 flow-through common shares at a price of $5.75 each. The shares are subject to a four month holding period, expiring on April 28. Proceeds will be used to fund an expanded 2014 exploration program at the company's Kennady North diamond project, which is located in Canada's Northwest Territories. A finder's fee of 5% was paid to Dundee Securities Ltd. in relation to the private placement.

Kennady North covers 13 leases and claims that are located immediately to the north and west of the four leases controlled by the Gahcho Kue joint venture between De Beers Canada and Mountain Province. Kennady Diamonds aims to identify resources along the Kelvin-Faraday kimberlite corridor, as well as find new kimberlites outside of the corridor.

True North to Raise Funds

True North Gems Inc. will conduct a non-brokered private placement under which it intends to issue up to 16,666,667 units at a price of 9 cents each for gross proceeds of up to $1.5 million. Each unit will include one common share of True North Gems and one-half of one common share purchase warrant, with each full warrant exercisable for two years for an additional share at a price of 12 cents. The securities to be issued under the financing will be subject to a four month hold period and terms of this placement are subject to the approval of the Toronto Stock Exchange's venture exchange. True North Gems intends to use the proceeds to advance development of its Aappaluttoq ruby project in Greenland.


Diamond Industry Stock Report

How well did your favorite industry firm's shares perform in 2013? In general, there were no real surprises, with U.S. and Europe's retailers performing solidly well except for LMVH (-6%); India's shares mainly lower by double-digits, except for C. Mahendra (+126%) and Vaibhav (+424%). Miners were largely mixed with the best performance by Lucara (+155%) and the worse by Stellar (-63%). View the extended stock report.

Jan. 2, 2014 Jan. 2, 2013
$1 = Euro 0.731 0.758 -0.027
$1 = Rupee 62.3 54.9 7.4
$1 = Israel Shekel 3.49 3.73 -0.24
$1 = Rand 10.69 8.45 2.24
$1 = Canadian Dollar 1.07 0.99 0.08

Precious Metals
Gold $1,222.80 $1,673.80 -$451.00
Platinum $1,397.00 $1,539.00 -$142.00

Stock Indexes
BSE 20,888.33 19,426.71 1,461.62 7.52%
Dow Jones Avg. 16,441.35 13,106.06 3,335.29 25.45%
FTSE 6,717.91 5,897.81 820.10 13.91%
Hang Seng 23,340.05 22,656.92 683.13 3.02%
S & P 500 1,831.98 1,426.26 405.72 28.45%
Yahoo! Jewelry Index 959.82 1,110.16 -150.34 -13.54%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Jan. 10, 2014

U.S. holiday season good but discounting reduced profit margins. Market sentiment improving. Indians increasing memo consignments to China with high hopes for strong Chinese New Year. Hong Kong very quiet, cautious and not as optimistic. Rough trading stable ahead of upcoming ALROSA and De Beers sales. Chow Tai Fook 3Q revenue +26%, same-store sales of gem-set jewelry +8%. Signet Jewelers notes heavy discounting during Christmas with Nov./Dec. sales +8% to $1.3B. U.S. Nov./Dec. online retail sales +10% to $46.6B. U.S. Nov. polished imports +1% to $1.9B, polished exports +23% to $1.6B.

RapNet Data: Jan. 9

Diamonds 1,042,581
Value $6,587,674,704
Carats 1,147,332
Average Discount -27.56%
Get Current Price List | Subscribe to Rapaport | Join RapNet
Rapaport Melee Auction

New York & Dubai

View details.

Rapaport Single Stone Auction

New York & Israel

The Diamond Show

Markthalle Building, Basel, Switzerland

Visit - Exhibit - Learn More:

Anjin and Marange Resources no longer discharge waste in the (Save) river, as of last year. Our problem is with Diamond Mining Co. They still discharge harmful substances in the Save River, but we have since intervened. They have installed a thickener, which separates solids and water, but it is not yet working and I'm not aware when it will be. So, it means pollution is still flowing.

Kingstone Chitotombe | EMA Zimbabwe


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


Polished Prices Fall in 2013

Polished diamond prices fell in 2013 as economic growth slowed in China and India. Diamond trading was supported by stable U.S. demand and a shift toward lower price point, commercial-quality diamonds. Sentiment improved in December due to steady U.S. Christmas holiday sales and rising expectations for the Chinese New Year. However, liquidity in the cutter and dealer markets remains tight. Profit margins are low and banks have reduced their credit for rough purchases in the manufacturing sector.

The RapNet Diamond Index (RAPI™) for certified 1-carat polished diamonds rose 0.2% in December; however, it fell 4.5% for the year. RAPI for 0.30-carat diamonds rose 10.1% in 2013, RAPI for 0.50-carat diamonds declined 0.7% and RAPI for 3-carat diamonds dropped 4%.

The trend for commercial-quality diamond demand will continue as attention shifts to the Far East for the Chinese New Year festival that begins on January 31. Far East jewelry retail sales are being driven by strong gold demand, but the major jewelers are expected to make a strong push to ramp up diamond sales.


Chain-Store Sales +3%

The International Council of Shopping Centers (ICSC) estimated that Christmas season retail sales on a comparable-store basis in the U.S. rose 3% year on year. Same-store sales rose 2.1% in November and by 3.4% in December. ICSC observed uneven gains across product categories and a highly competitive and promotional environment this season. Retail sales for 2013 rose 3.3%, according to ICSC, which was slightly stronger than 2012 but below the rate of growth in 2011.

Chow Tai Fook's Comps +11%

Chow Tai Fook estimated that revenue grew 26% year on year in the third quarter that ended on December 31. Without citing hard totals, the retailer observed that same-store sales rose 11%, with gem-set jewelry up 8% and gold jewelry rising 15%. Chow Tai Fook reported improvement in its wholesale sector and said that inventory replenishment demand remained strong at new and existing stores.

Signet's Comps +5%

Signet Jewelers Ltd. reported that same-store sales rose 5% year on year for the eight weeks that ended on December 28, the period that included the all-important Christmas season. Signet was the first major jeweler to comment on the 2013 holiday season. During the period, same-store sales increased 5.6% year on year for Kay and Jared in the U.S., but comparable-store sales fell 2.3% at regional brands, which included Ultra. In the U.K., same-store sales jumped 8% at Ernest Jones and rose 3.3% at H.Samuel, marking the best performance in several years.

Signet confirmed that additional discounting was necessary in a highly promotional retail environment that included challenging customer traffic trends and lower than anticipated commodity cost savings. Total sales during the eight week period increased 7.7% to $1.276 billion, while ecommerce sales increased by 24.8% in the U.S. and 37.5% in the U.K.

Macy's Comps +4%

Macy's Inc. reported that same-store sales rose by 3.6% year on year for the Christmas season, which included the months of November and December. When sales from departments that were licensed to third parties are factored into the mix, comparable-store sales increased 4.3%. Macy's also announced a corporate restructuring program, which includes the closure of five underperforming stores this quarter, district consolidation and the termination of approximately 2,500 employees.
U.S. Online Sales +10%

Online U.S. retail sales for the whole Christmas season, which comScore Inc. measured as November 1 through December 31, rose 10% year on year to $46.55 billion, short of the predicted gain of 14%. While the jewelry category made the top gaining product sectors during one week of the Christmas season, ultimately, the top performers for the whole period were apparel and accessories, consumer electronics, computer hardware, toys and hobbies and video games and accessories, all of which experienced sales increases of 12% to 13%, according to comScore.

New Smartwatches Debut at CES

MetaWatch created a new corporate identity and brand image, META, as part of its evolution into offering premium smartwatches. META is presenting models of its first line of smartwatches at the 2014 International Consumer Electronics Show (CES) in Las Vegas this week. In addition, META collaborated with Frank Nuovo and his Design Studio Nuovo for a new watch line, which is presented through the ''Art of the Glance'' marketing campaign.

East West Micro (EWM) Corp. of Hong Kong, a maker of health monitoring hardware, debuted its gold and diamond smartwatch at CES. The latest creation, which includes its patented vital sign tracker (VST) Sensor Engine, was crafted in 18-karat gold with 200 diamond accents for a retail price of $30,000. EWM will also show its $49 and $99 health smartwatches in a variety of colors, mix-and-match styles and the same features based on its VST products.

Eurostar Launches New Campaign

Eurostar Diamond Traders created the ''Best Deserves the Best'' campaign to kick start a new year. The theme is aimed at promoting the brand’s quality, value and service. The look and feel of the campaign is meant to evoke a fresh, delicate yet playful approach to diamonds.

Rahaminov Debuts Fresh Campaign

Rahaminov Diamonds created a new advertising and marketing campaign to start off the new year, featuring a charismatic, blond model wearing the latest diamond creations by Tamara Rahaminov Goldfiner. The diamond brand will debut these advertisements in leading jewelry trade and select consumer lifestyle magazines. Print and digital ads were shot on location in Malibu, California by luxury lifestyle photographer Geoffrey Ragatz.

Jewelers Make Least Stress List

U.S. jewelers made the list of ''least stressful jobs'' in 2014, according to job-search portal CareerCast of Carlsbad, California. While jewelers ranked third on its least stressful career list, behind audiologist and hair stylist, it was the only profession with a negative job growth outlook, projecting a decline of 5%. Other low stress jobs included a tenured university professor, seamstress/tailor, dietitian, medical records technician, librarian, multimedia artist and drill press operator. The list also compiled salaries from the Bureau of Labor Statistics, for which jewelers earn a median of $35,350, according to CareerCast.

JVC Produces Assurance Kit

The Jewelers Vigilance Committee (JVC) created a ''Supply Chain Assurance Kit'' to help the U.S. industry navigate the “conflict free” mineral source provision in section 1502 of the U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act. JVC created a largely customizable kit in a ''do-it-yourself'' format to create strong management systems, assess and identify risk and meet compliance requirements in the purchase and trading of tungsten or gold.


Mbada Vows to Invest

Mbada Diamonds, which faces U.S. sanctions, remained committed to investing hundreds of millions of dollars into exploring for kimberlite in Zimbabwe's Marange region, according to the Zimbabwe Independent. Nonetheless, Mbada said exploration work showed alluvial diamonds were still in abundance across the Eastern Highlands. Other miners in the region include Anjin Investments, Diamond Mining Company (DMC), Gye Nyame, Jinan Mining Private Ltd., Kusena, DTZ-OZ Geo. and Marange Resources.

The newspaper also confirmed that DMC's operations pose serious health risks to the communities that draw water from Save River, where the mining company is reportedly discharging toxic chemicals and sludge. Investigations by The Zimbabwean indicated that Mbada, Anjin and Marange Resources, which were sued by villagers for polluting the Save, have adopted environmentally friendly mining strategies in the past year.

Brazil Minerals Sells Polished

Brazil Minerals Inc. sold its first parcel of polished diamonds to a U.S.-based investor group for future delivery, according to a company statement that did not provide a sales total. The junior miner produces diamonds and gold from its Duas Barras licensed area in Minas Gerais in Brazil, but had only been offering rough diamonds and gold for sale to local buyers prior to this milestone.

Early in December, Brazil Minerals was cutting and polishing some of its rough diamond inventory in Brazil ''for about $50 per gem'' and then sending the diamonds to the Gemological Institute of America (GIA) for grading. The highest color obtained for this parcel was an F and the highest clarity was VVS1, according to the mining company.

Lucapa Recovers 32-Ct. Stone

Lucapa Diamond Company Ltd. recovered a 32.20-carat, D, type IIa rough diamond from the Lulo concession in Angola. The diamond was produced from bulk sampling and is the largest recovered by Lucapa through its new dense media separation (DM5) plant, which was commissioned in November. The company described the diamond as irregular, dodecahedral and of exceptional color and clarity. Lucapa also believes the stone could be flawless but it will require thorough testing to confirm.


Nov. $Mil. %Chng. YTD $Mil. %Chng.
Polished imports $1,897 1% $21,166 16%
Polished exports $1,595 27% $17,825 16%
Net imports $302 -48% $3,341 13%

Rough imports $73 49% $470 3%
Rough exports $24 -39% $267 -10%
Net imports $49 400% $203 30%

Net diamond account $351 -40% $3,544 14%


Diamond Industry Stock Report

Tough week for stocks as losers far outnumber gainers in the U.S. and E.U., only Macy's (+5%) and Damiani (+14%) closed the week ahead. Indian shares were mixed with Classic Diamond (+17%) leading gains. Mining shares were mostly higher except for ALROSA (-6%), Anglo (-5%) and Rio TInto (-8%). View the extended stock report.

Jan. 9 Jan. 2 Chng.
$1 = Euro 0.735 0.730 0.005
$1 = Rupee 62.03 62.30 -0.3
$1 = Israel Shekel 3.50 3.49 0.01
$1 = Rand 10.79 10.69 0.10
$1 = Canadian Dollar 1.09 1.07 0.02

Precious Metals
Gold $1,228.20 $1,222.80 $5.40
Platinum $1,414.00 $1,397.00 $17.00

Stock Indexes Chng.
BSE 20,713.37 20,888.33 -174.96 -0.8%
Dow Jones 16,444.76 16,441.35 3.41 0.0%
FTSE 6,691.34 6,717.91 -26.57 -0.4%
Hang Seng 22,787.33 23,340.05 -552.72 -2.4%
S&P 500 1,838.12 1,831.98 6.14 0.3%
Yahoo! Jewelry 917.69 959.82 -42.13 -4.4%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Jan. 17, 2014

Sentiment improving due to solid U.S. market. Cautious Far East demand as jewelers complete Chinese New Year purchases. Polished trading stable with dossiers strong. Pent up rough demand might cause price hikes at next week’s De Beers sight. Rio Tinto 4Q diamond production +38% to 4.5M Cts. Dominion 4Q production at 1.2M Cts. Luk Fook 3Q same store sales +9% with gold products +19%, gem-set jewelry -4%. Swatch Group 2013 watch & jewelry sales +9% to $9.5B. Tiffany & Co. Nov./Dec. sales +4% to $1B. Zale Corp. Nov./Dec. sales -2% to $556M. Birks 3Q revenue -7% to $94M. Israel’s 2013 polished exports +12% to $6.2B, rough imports +4% to $3.9B.

RapNet Data: Jan. 16

Diamonds 1,044,531
Value $6,648,085,639
Carats 1,151,312
Average Discount -27.30%

Get Current Price List | Subscribe to Rapaport | Join RapNet


Rapaport Melee Auction

New York & Dubai

View details.

Rapaport Single Stone Auction

New York & Israel
The Diamond Show

Markthalle Building, Basel, Switzerland

Visit - Exhibit - Learn More:
There are some places where mining cannot be done without forever damaging landscapes, wildlife, businesses and communities. Bristol Bay (Alaska) is one such place. We, along with many of our fellow jewelers, urge the Environmental Protection Agency to use its authority under the Clean Water Act to safeguard Bristol Bay and the communities and fishery it supports.

Michael J. Kowalski | Tiffany & Co.


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs n


Rap Melee Index +4%

The Rapaport Melee Index (RMI™) for small diamonds increased by 4% to 130.54 points during the fourth quarter and it is up 3.5% year on year. The diamond market stabilized toward the end of the year after a period of weak demand and price declines in the second and third quarters. Melee diamond prices increased during the last quarter as overall trading was boosted by Christmas demand combined with shortages in supply. Polished trading is expected to improve during the first quarter driven by the Chinese New Year and as U.S. retailers start to replenish sold inventory.

Rapaport Diamond Auctions sold over 115,000 carats of diamonds for $24.5 million during the fourth quarter. While the U.S. wholesale market is solid, demand from overseas buyers continues to drive up market prices.

U.S. Jewelry Store Sales +11%

U.S. jewelry store sales jumped 11.2% year on year in November to $3.008 billion. Meanwhile, the U.S. consumer price index (CPI) for jewelry during the month was flat. Jewelry store sales for the first 11 months of 2013 have risen 9.6% to $27.467 billion. As reported earlier by Rapaport News, jewelry sales from all retail channels in November improved 9.1%, while sales of watches increased 11.3%.


U.S. Retail Sales to Improve

ShopperTrak anticipates that U.S. retail sales will increase 2.8% for the first quarter of 2014, despite its prediction of a 9% decrease in store foot traffic. The data collection firm stated that with more shoppers purchasing online or researching products online before heading to stores – retailers who deliver a seamless customer experience both in the store and across all channels will emerge ahead of their competitors. ShopperTrak found that Christmas season retail sales rose 2.7% year on year to $265.9 billion; however, foot traffic to stores plunged 14.6%.

U.S. Jewelry CPI -1%

The U.S. consumer price index (CPI) for jewelry declined 0.7% year on year to 175.59 points in December, a full 6.5 points lower than the highest reading of the year, which was 182 points in August. The highest CPI for jewelry so far has been 183.19 points in January 2012. The average CPI for 2013 was 177.6 points, down 0.4% from the average in 2012.

December gold was about 27% lower, while platinum was down by nearly 20%. The RapNet Diamond Index (RAPI), the global benchmark for polished diamond prices, was basically flat in December for 1-carat diamonds, while the index for 0.50-carat diamonds rose 1.1% and it improved 2.8% for 0.30-carat stones. However, RAPI for 3-carat diamonds fell 0.8%.

Tiffany's Sales +4%

Tiffany & Co. reported that sales increased 4% year on year to $1.03 billion during the two-month long Christmas season. Comparable-store sales rose 6%. Revenue from stores in the Americas increased 6% to $550 million, while comparable-store sales rose 7%. Sales from the Asia-Pacific region increased 5% to $196 million and same-store sales were flat. Tiffany’s business in Japan experienced a 12% decline in sales to $135 million due to the negative translation effect from a weaker yen; however, same-store sales increased 10%. Sales in Europe improved 11% to $131 million and comparable-store sales rose 3%.

Tiffany & Co. informed shareholders that it would take a $300 million charge, or $2.33 per diluted share, in the fourth quarter that ends on January 31, related to an arbitration ruling with the Swatch Group.

Richemont's Sales +3%

Richemont reported that its sales grew by 2.8% year on year to $4 billion (EUR 2.94 billion) during the third quarter that ended on December 31. By line of business, sales from jewelry maisons increased 3% to $2 billion and revenue from specialist watchmakers improved 4% to $1.1 billion; however, sales fell 4% at Montblanc to $298 million. By region, sales in Europe and the Middle East and Africa, rose 7%, sales from the Asia Pacific region rose 1%, and revenue across the Americas rose 6%

Zale's Sales -2%

Zale Corporation reported that revenue fell 1.9% year on year to $556 million for the Christmas season, which included the months of November and December. However, same-store sales rose 0.7% and that figure was slightly higher, up 2%, when based on constant-exchange-rates. Same-store sales figures included ecommerce revenue. The decrease in revenue during the all-important holiday period was primarily the result of having closed 91 stores in the past year, coupled with a weaker Canadian dollar.

Birks' Sales -7%

Birks Group Inc. reported that revenue fell 6.8% year on year to $94.5 million for the third quarter that ended on December 28. The jeweler blamed a lower sales total on operating five fewer stores compared with one year earlier. However, the company's same-store sales were flat, rising 2% in the U.S. but falling 2% in Canada. Birks' same-store sales for the Christmas season, which the jeweler considered to be November 3 through December 28, fell 1% year on year. Comparable-store sales rose 2% in the U.S.; however, this was offset by a 3% drop in Canad
Swatch's Sales +8%

Swatch Group reported that its revenue grew 8.3% year on year to $9.768 billion (CHF 8.817 billion) in 2013, despite negative exchange rates against the yen and U.S. dollar. Watch and jewelry sales rose 9% to $9.46 billion.

The group will report its 2013 earnings on February 20.

Lazare Kaplan's Revenue Rises

Lazare Kaplan International Inc. anticipates that its second quarter revenue rose nearly 86% year on year to $29 million, though sales of goods and services fell 13.5% to $13.5 million. Revenue for the company's first half increased 22% to $42.5 million and sales declined 23% to $27 million in large part due to lower sales of commercial polished diamonds. Lazare Kaplan received a one-time payment of $15 million in the second quarter from a license settlement agreement with the Gemological Institute of America (GIA).

Lazare Kaplan has been unable to file its official financial statements since May 2009 due to material uncertainties. In the latest litigation proceedings with KBC Bank N.V. and Antwerp Diamond Bank N.V., Lazare Kaplan expects a hearing on civil and criminal proceedings against the banks on February 13, and, in the U.S., the discovery process related to its RICO suit against the lenders is ongoing.

Banks Call on Winsome

Winsome Diamonds & Jewellery Ltd. informed the Bombay Stock Exchange (BSE) that the board of directors approved closing its Bangalore unit, since operations have ceased at the plant. In addition, when the board met on January 10 it appointed Jaikumar Kapoor and Harimohan Namdev as additional directors of the company. Namdev will be categorized as an independent director, according to the filing.

Meanwhile, the Gems & Jewellery Export Promotion Council (GJEPC) issued a public statement saying that Punjab National Bank (PNB) and Central Bank have served legal notices on Winsome Diamonds and Forever Precious Jewellery to recover loans. The banks allegedly claimed ''willful default'' status against Winsome, alleging it overstated profit to obtain the loan and that proceeds were diverted to non-core business use. Winsome claims uncollected account receivables of nearly $1.2 billion and outstanding loans of about $900 million.

JCPenney to Close 33 Stores

In its latest effort to reduce costs and improve earnings, J. C. Penney Company Inc. will close 33 underperforming stores in the U.S. to focus operating resources on its highest potential growth opportunities. JCPenney anticipates that store closings will reduce annual costs by approximately $65 million, beginning in 2014. JCPenney expects to incur estimated pre-tax charges of approximately $26 million in the fourth quarter of fiscal 2013 and approximately $17 million in future periods. The closings will eliminate approximately 2,000 positions.

Chow Tai Fook Pursues Infringement

Chow Tai Fook found that Taobao and numerous Mainland China and Hong Kong jewelry shops are selling counterfeit, and in some cases illegally producing, Bao Bao Family collections, which infringes upon the retailer's trademarks and copyrights. Chow Tai Fook launched the Bao Bao Family collection in 2002. Chow Tai Fook stores, official eshops and Chow Tai Fook authorized ecommerce platforms are the only authorized dealers for the collection.

Kalyan Plans Gulf Expansion

Kalyan Jewellers plans to invest $38 million (AED 140 million) in adding at least 14 showrooms across the Gulf Region after opening outlets in Abu Dhabi, Sharjah, Karama, Qusais, Bur Dubai and Meena Bazar in Dubai. Kalyan Jewellers plans to open three retail outlets in Kuwait, two outlets in Qatar and one each in Bahrain, Muscat and Oman. The group operates 58 showrooms, mainly in India, where it expects to open 15 more showrooms within the next year. The company anticipates turnover to reach $2.5 billion by 2015.

Alliance Time Receives Capital

Equity firm Monroe Capital LLC provided a $27 million senior secured term loan in conjunction with a $40 million revolving line of credit provided by Bank of America Merrill Lynch to support the growth of Alliance Time and Alliance Time distributes a range of watches and presents more than 40 luxury watch brands, including Milleret, Golana Swiss and ByJoy watches, along with jewelry on


Cartier Reigns With China's Wealthy

China's high-net-worth community selected Cartier as the ''best of the best'' jewelry brand this year as well as for the ''best jewelry watch'' and Patek Philippe was named the best watch brand, according to the 10th annual Hurun Report on luxury spending. In addition, wealthy consumers in China selected Cui Huang Ge for the best jade, Montblanc for the best writing instrument and Patek Philippe as the best watch with complications. The best new arrival in the jewelry and watch categories included the Omega Laymatic and Blancpain Chinese Calendar Red.

The annual survey revealed that jewelry brands experienced a difficult year in China as spending fell and non-jewelry brands gained in popularity with wealthy consumers. Red wine was the top gift choice for men by men and for men by women. The best gifts for women, in order, were jewelry, apparel, watches, travel vouchers and electronics. Other top gifts for men from men, in order, were Baiju, watches, electronics and cigars, while gifts for men from women were watches, electronics, art and cigars. The top 10 brands for gifting by men included Hermes, Apple, Louis Vuitton, Chanel, Gucci, Cartier, Prada, Montblanc, Giorgio Armani and Burberry. The top 10 brands for gifting by women were Chanel, Louis Vuitton, Apple, Hermes, Gucci, Dior, Cartier, Prada, Giorio Armani and Bulgari.

The Hurun Report noted that overall spending on luxury goods dropped 15% in the past year in Mainland China and gift-giving spending plunged 25%, perhaps due to stronger anti-corruption initiatives, the report opi
Zim Plans Oversight

Zimbabwe's Minister of Finance and Economic Development, Patrick Chinamasa, said the government will continue to pursue nationalizing its strategic resources with a view to ensure inclusive economic growth and increased participation by indigenous people. He was optimistic that a transparent process for diamond marketing would help boost revenue and stated that the government was working to consolidate the diamond sector to improve oversight of production.

Factor Advisors Close Two ETFs

Factor Advisors LLC will close and liquidate its PureFunds ISE diamond/gemstone exchange traded fund (ETF) and the PureFunds ISE mining service ETF on or about January 24, with proceeds being distributed to shareholders.

The last day of trading of shares will be January 23.

Groups Urge EPA to Stop Pebble Mine

In its final impact report on Alaska's Bristol Bay, the U.S. Environmental Protection Agency (EPA) concluded that even under the best mining practices, extracting deposits of gold and copper would destroy up to 94 miles of salmon streams, 5,350 acres of wetlands, lakes and ponds and devastate 33 miles of streams through reduced flows, resulting in reduced salmon production. Additionally, mining would generate water pollution that would require capture and treatment long after mining ends.

The Pebble mine was originally proposed at Bristol Bay by partners Anglo American and Northern Dynasty Minerals; however, Anglo dropped its stake in the project in 2013 as Pebble attracted a chorus of opposition from jewelers, native Alaskans and commercial fishermen. Opponents of the Pebble mine have now petitioned the EPA and the White House to use the Clean Water Act’s section 404(c) to block the project once and for all.


Rio Tinto's Production +38%

Rio Tinto's diamond production grew 38% year on year to 4.489 ‎million carats in the fourth quarter that ended on December 31. Production at Argyle jumped 57% to 3.153 ‎million carats, its 60% share of production from the Diavik mine in Canada increased 9% to 1.240 million carats and its 78% share in the Murowa mine grew 7% to 105,000 carats. For the full year, Rio Tinto’s diamond production rose 22% year on year to ‎‎16.027 million carats with Argyle accounting for the majority at 11.395 million carats.

Dominion Recovers 1M Cts.

Dominion Diamond Corporation recovered approximately 1.193 million carats of diamonds from its Ekati and Diavik assets during the fourth quarter of 2013. The company reported that production at Ekati, in which Dominion owns an 80% stake, amounted to 367,000 carats during the quarter. Dominion also owns a 40% stake in the Diavik mine, where production grew by 11% year on year to 2.1 million carats, leaving a share of 826,000 carats.

Rockwell Narrows Loss

Rockwell Diamonds' revenue rose 35% year on year to $11.9 million, which included sales of rough diamonds as well as royalties from contractor operations, for the third fiscal quarter that ended on November 30. The mining company narrowed its loss to $400,000 from $4.7 million one year earlier. The company sold 6,066 carats of rough diamonds during the period for proceeds of $10.7 million, representing an average price decline of 3% year on year to $1,764 per carat. However, the average price from its own operations rose 24% to $2,198 per carat.

Diamcor Sale Achieves $1M

Diamcor Mining Inc., the operator at the Krone-Endora at Venetia project, sold 3,955 carats of rough diamonds for $1.43 million in the company's third-quarter that ended on December 31. The majority of these diamonds were recovered in conjunction with testing and commissioning exercises. Diamcor Mining held approximately 1,500 carats ready for sale at the end of its quarter.

BD, ALROSA Begin Exploring

Botswana Diamonds (BD) started its exploration project with ALROSA at the PL117 license in the Orapa region of Botswana. The license covers 2.9 square kilometers and is located near the Karowe diamond mine, which is operated by Lucara Diamond Corporation. Botswana Diamonds previously discovered diamonds in the AK10 kimberlite in the same license area in 2004. The company secured enough capital to launch the joint venture with ALROSA through a successful round of fundraising in December 2013.

Firestone Secures $140M in Funds

Firestone Diamonds reported that it has secured $140 million, which it needed to develop the main treatment plant at its Liqhobong diamond mine in Lesotho. The company previously reported that it would require $222.4 million to construct and commission Liqhobong's main treatment plant. The new funding package, together with an $82 million debt facility secured in November 2013, will allow the company to commission the mine. Firestone anticipates raising $40 million through the placement of 813,107,289 new ordinary shares with new and existing shareholders. Liqhobong is projected to produce up to 1 million carats per year once full production begins in 2016.

Diamond Industry Stock Report

Investors reacted to mixed 4Q retail results with Birks (-31%), Blue Nile (-1%) and Tiffany (-5%) weaker but they continued to reward Zale (+6%) for promising better margins someday. Indian shares and mining stocks were mixed with Classic (+26%) rising above the rest, but Goenka (-10%) recorded the biggest drop; Firestone (+22%) and Lucara (-12%) defined their sector's spread. View the extended stock report.
Jan. 16 Jan. 9 Chng.
$1 = Euro 0.734 0.735 -0.001
$1 = Rupee 61.49 62.03 -0.5
$1 = Israel Shekel 3.49 3.50 -0.01
$1 = Rand 10.89 10.79 0.10
$1 = Canadian Dollar 1.09 1.09 0.00

Precious Metals
Gold $1,242.70 $1,228.20 $14.50
Platinum $1,427.00 $1,414.00 $13.00

Stock Indexes Chng.
BSE 21,265.18 20,713.37 551.81 2.7%
Dow Jones 16,417.01 16,444.76 -27.75 -0.2%
FTSE 6,815.42 6,691.34 124.08 1.9%
Hang Seng 22,986.40 22,787.33 199.07 0.9%
S&P 500 1,845.89 1,838.12 7.77 0.4%
Yahoo! Jewelry 932.20 917.69 14.51 1.6%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Jan. 24, 2014

Markets optimistic but concerned about higher rough prices reducing profit margins. De Beers hikes rough prices by average 5% with all goods sold at Jan. sight. Cutters afraid to raise polished prices as HK-China demand weak and program buyers demand stable prices for stable orders. Petra Diamonds recovers 29.60ct. blue diamond at Cullinan mine, 1H revenue +19% to $186M, production +31% to 1.6M cts. Michael Hill 1H revenue +10% to $240M, same store sales +5%. Swiss Nov. watch exports -1% to $2.8B. Christie’s 2013 auction sales +16% to $7.1B. India’s Dec. polished exports +16% to $1.1B, rough imports -7% to $1.7B.
RapNet Data: Jan. 23

Diamonds 1,040,408
Value $6,508,182,023
Carats 1,142,605
Average Discount -27.19%
Get Current Price List | Subscribe to Rapaport | Join RapNet

Rapaport Jewelry Sale

Miami & New York

View details.
Rapaport Melee Auction

New York & Belgium

View details.
Centurion Scottsdale

Special Presentation by Martin Rapaport
9 a.m. to 10 a.m.
The Diamond Show

Markthalle Building, Basel, Switzerland

Visit - Exhibit - Learn More:
There’s no guarantee that you’re not buying a 'blood diamond' whenever you buy a diamond from a store. They can say that it’s not a 'blood diamond,' but, once it comes through the processing centers in the states, they all get mixed up and there are blood diamonds and non-blood diamonds and you never know which is which.

Meredith Butler | DiamondsAreEvil

The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.

Israel's Top Exporters

Israel's diamond commissioner in the Ministry of Economy published the country's top 20 diamond firms, based upon their stated value of exports in 2013. Net polished diamond exports for these major firms reached $1.952 billion, representing about 32% of the country's total polished diamond exports in 2013. Nineteen companies requested anonymity and were excluded from the list.

2013 Rank Company Name $Mil.
1 Leo Schachter Ltd. $328
2 MID House of Diamonds Ltd. $247
3 AA Rachminov Diamonds (2000) Ltd. $210
4 Niru Diamonds Israel (1987) Ltd. $112
5 Ofer Mizrahi Diamonds Ltd. $103
6 Andre Messika Ltd. $100
7 D.N. Diamonds 2007 Ltd. $94
8 Yoshfe Diamonds International Ltd. $91
9 Rosy Blue Sales Ltd. $82
10 O.S.G. Polishing Ltd $77
11 Royal Gem (Israel) Ltd. $76
12 Kuperman Brothers Diamonds Ltd. $64
13 Poligem Ltd. $61
14 Masingita Ltd. $57
15 Rachminov Diamonds (Israel) Ltd. 1891 $53
16 Eshed-Diam Ltd $46
17 Eran Diamonds - Yehuda Sayag $42
18 Shlomo Bichachi Diamonds Ltd. $40
19 Yoram Dvash Diamonds Ltd. $37
20 Segaldiam Ltd. $32

Swiss Watch Exports Flat

Swiss Watch exports fell 0.5% year on year to $2.8 billion (CHF 2.1 billion) in November, according to the Federation of the Swiss ‎Watch Industry.‎ The decline in exports was due to a decrease in the volume and value of gold and bi-metallic watches shipped. Wristwatch exports fell 1.5% to $2.202 billion, while the number of units shipped decreased by 4.5% to 2.676 million. The value of other products grew by 12% to $58.1 million. Exports to Hong Kong fell 6.5% to $433.5 million, while exports to the U.S. declined 2.5% to $233.7 million. Exports to China continued to lose ground and fell 27% to $138.5 million.

Pandora's Sales +35%

Pandora's preliminary revenue projections for the fourth quarter indicated that sales jumped 30% year on year to $509 million (DKK 2.8 billion). The jeweler chain estimated that revenue for 2013 rose more than 35% to $1.63 billion and it anticipates gross margin of 67% compared with 66.6% in 2012. Pandora closed 2012 with no improvement in revenue compared with the previous year and it also reported that earnings plunged 41% to $211 million. Previous guidance from Pandora for 2013 anticipated revenue of about $1.6 billion. Same-store sales from Pandora's Concept stores in the fourth quarter, which included Christmas, rose 5.1% at U.S. locations, surged 17.9% in the U.K., improved 5.7% in Germany and jumped 25.5% in Australia.

Christie's Auction Sales +16%

Christie's auction house reported that sales in 2013 rose 16% year on year to $7.13 billion (GBP 4.54 billion), representing the highest total to date for the company. Christie's added that sales growth was driven by a 30% jump in the number of new buyers, who accounted for 22% of total sales. Auction sales rose 15% year on year to $5.9 billion, while private sales surged 20% to $1.19 billion.

Christie’s reported a record year for global jewelry sales, with a total of $678.3 million or an 18% increase from 2012. Upon executing the sale of The Winston Legacy in May and The Orange in November, Christie’s Geneva led the company’s jewelry sales with $228.4 million. More than 120 jewels sold in excess of $1 million each, 14 lots sold above $5 million each and five above $10 million. Colored and colorless diamonds, natural pearls, distinguished private collections and three online-only jewelry auctions all contributed to strong results.

The top lot of the year at Christie's was a Francis Bacon, three studies of Lucian Freud oil painting on canvas in three parts, painted in 1969, that sold for $142.4 million. The top jewelry lot was, of course, The Princie Diamond, a 34.65-carat, cushion-cut, fancy intense pink Golconda diamond that achieved a record price of $39.3 million.

Michael Hill's 1H Sales +10%

Michael Hill International anticipates that revenue rose 10% year on year to $240 million (AUD 270.9 million) for the six months that ended on December 31, according to preliminary results. Same-store sales rose 4.7% based on Australian dollars. In local currencies, the largest decline in revenue came from the jeweler's U.S. operations where sales fell 8.4% to $5 million; however, same-store sales rose 2%, while sales in New Zealand dropped 3.5% to NZD 60.9 million and same-store sales fell 4.1%. Otherwise, revenue improved 5.5% in Australia to AUD 171.7 million, where same-store sales rose 5.5% and Canada surged 28.5% to CAD 37.9 million as same-store sales rose 7.9%.

Richemont Eyes India

Richemont applied to open single-brand jewelry stores in India for an estimated investment of $5 million, according to news site Domain-b. If approved, Richemont would be allowed to open a store that carries a single brand, such as Cartier. India allegedly allows full foreign direct investment on condition that one third of materials are sourced locally. Richemont confirmed that India presents a growing market of affluent young consumers.

Trapani Keeps Board Seat

Francesco Trapani, the current head of LVMH's watches and jewelry division, will step down from his position on March 1. Trapani's change in roles follows the successful integration of Italian brand Bulgari into the group, LVMH said. LVMH acquired Bulgari in 2011 for $5.2 billion. Trapani will continue to be involved in the group and serve as adviser to the retailer's chairman Bernard Arnault. He will also keep his seat on LVMH's board of directors.

Mellier Praises Strong Relationships

Philippe Mellier, the CEO of De Beers Group, told sightholders this week in Gaborone that relationships are key to this industry's future. During the annual kickoff for a new sightholder sales year, he cited strong relationships between De Beers and Botswana, and sightholders and consumers as a firm foundation for establishing new relationships across the pipeline to secure confidence in diamonds. De Beers relationship with Botswana has helped lift the country into a leading trading hub and the company's ongoing relationships with sightholders will evolve and adapt toward building new demand in key growth markets.

Mellier observed that China's economy is showing healthy signs with a positive outlook for diamond sales around Chinese New Year festivities and full year expectations that are on par with 2013. Despite strong prospects for India in 2014, concerns remain for inflation and currency volatility in the short term.

Costco May Argue for Generic Tiffany

U.S. District Judge Laura Taylor Swain ruled this past week that Costco Wholesale Corporation may proceed with its defense argument and discovery process that the ''Tiffany setting'' is a generic term as it faces charges of infringement and counterfeiting from Tiffany & Co.

Tiffany & Co. sued Costco in February 2013, claiming that the ''Tiffany setting'' is protected by its trademark. Defendant Costco, which also acts as a counterclaim-plaintiff, asserted that Tiffany & Co.'s federal trademark registrations were invalid in that they purported to exclude others from using the word ''Tiffany'' to describe a ring, setting or any jewel.

The judge wrote that for a term to be declared generic, even when presumed valid by the U.S. Patent & Trademark Office, the principal significance of the word must be its indication of the nature or class of an article, rather than an indication of its origin. In meeting its burden, Costco included dictionary definitions and generic use of ''Tiffany setting'' by competitors, manufacturers and consumers. Both parties were instructed to meet for settlement purposes and to update the discovery schedule prior to their June 27 pretrial conference.

Ritani Lands Forbes List

Forbes named the top 100 ''most promising'' companies in the U.S. for 2014 and selected Ritani at No. 40. The annual list ranked high-growth, privately held firms that reported revenue of less than $250 million for the most recent year. Additionally, Forbes looked for ''sustainable growth,'' along with strong sales, responsible hiring practices, quality of the management team and its investors, solid margins, market size and key partnerships. Ritani reported revenue of $13 million and it employs 45 professionals.

CNRG Says Name, Shame Offenders

The Centre for Natural Resource Governance (CNRG) said Zimbabwe's Mines and Mining Development Minister, Walter Chidhakwa, must avoid being drawn into the corrupt activities of his predecessor and he must name and shame those who attempt to bribe him or conduct illegal diamond activity. Chidhakwa, who claimed he has turned down bribes, has vowed to bring transparency and accountability into the mining sector.

However, CNRG surmised that too many powerful and untouchable individuals are corrupting the mining sector and the Zimbabwe Anti-Corruption Commission (ZACC) must be allowed to carry out investigations without interference. Chidhakwa recently dissolved the boards of Zimbabwe Mining Development Corporation (ZMDC), Mineral Marketing Corporation of Zimbabwe (MMCZ) and Marange Resources -- all of which are on the U.S. sanctions list-- citing conflicts of interest.

Digital Predictions for 2014

What are some of the digital issues that retail brands and marketers need to address in 2014?

MillwardBrown Digital contended that with the availability of video content and the technology to view across devices, screens become agnostic and ads must be seamlessly optimized for the screen size at the point of exposure. If a brand creates a video or streaming ad, research to optimize viewing untilization and don't misunderstand the multitude of ways video content will be consumed in 2014.

Secondly, this year, the popularity of micro-video ads, coupled with the ease with which the content can transcend the mobile, tablet, PC and even TV gap, could eventually result in micro-video becoming the most portable video format across screens, according to MillwardBrown. Brands must also make fundamental decisions about where they should be active, how appropriate these formats are to their target consumers, and whether they can adequately pursue a micro-video strategy before embarking in this direction.

Wearable technology will offer unique media opportunities in 2014 for brands to captivate target audiences. MillwardBrown suggested creating a device, such as a smartwatch, or work through friendly apps to enhance the consumer experience. The challenge will be developing a deep understanding of what consumers want from wearable devices and screens so that brands can deliver relevance from its existing proposition.

MillwardBrown reminded brands that consumers of tomorrow are attracted to game-changers and trendy and fashion-forward brands today. Therefore, successful youth-targeted mobile ads will be noticeably different from conventional TV ads or even online ads, in order to demonstrate that the brand is on-trend and up to date.

Anti-Corruption Gains Steam

The Partnering Against Corruption Initiative (PACI), a World Economic Forum program that was begun a decade ago, named a community of top business leaders this week to form the PACI Vanguard — a group of executives who are committed to being the voice of a most robust anti-corruption agenda. This group of 20 CEOs builds on the more than 100 leading companies that are PACI members, including Rio Tinto, that have signed on to the PACI principles for countering corruption.

The PACI Vanguard expects to establish a harmonized legal framework that can address corruption consistently and lead to more effective enforcement. Collaborating with the Organisation for Economic Co-operation and Development (OECD), PACI Vanguard's members will support the implementation of the OECD convention on combating bribery with G20 countries and others. In addition, the larger PACI business community developed new PACI principles for countering corruption based on a zero tolerance policy.

Petra Uncovers Exceptional Blue

Petra Diamonds recovered a 29.60-carat, vivid blue diamond at its Cullinan mine in South Africa and defined the stone as possessing extraordinary saturation, tone and clarity. Petra expects to sell the diamond shortly.

The company said that revenue grew 19% year on year to $185.5 million for the first half that ended on December 31. The volume of diamond carats sold during the period rose 33% to 1,140,479 million. Petra’s production increased 31% to 1,635,716 million carats. Petra held three rough tenders during the first half, with four tenders scheduled to take place in the second half. On December 31, Petra's diamond inventory was valued at $49.1 million and it held $27.5 million in cash.

Renard Drill Program Update

Stornoway Diamond Corporation's planned 2014 resource expansion drill program at the Renard diamond project in Quebec will test the resource potential of the Renard 2 kimberlite below the base of the currently defined indicated mineral resource at 600 meters below surface. Stornoway stated that it is at that level where Renard 2 shows its maximum size. The drill project's objectives will attempt to convert an estimated 6.2 million carats of inferred mineral resources to an indicated resource; identify areas to target for further exploration between 700 meters and 1,000 meters in depth and explore drilling potential at four additional kimberlites that are not contained within any current estimates.

Endiama to Reopen Mines

Endiama plans to resume operations at the Shiri, Sangamina, Camafuca and Camazambo diamonds mines within the next two years following their closure in 2009 due to viability concerns. Angola's diamond production has been slow to recover following the global financial meltdown. While figures for 2013 have not yet been released, Angola produced about 8.3 million carats in 2010, 2011 and 2012, down from and 9.7 million in 2009.
Victor Touts Kidney Looping

De Beers Canada's Victor diamond mine completed its first year of cleansing equipment oil through the kidney looping process to reduce waste and costs as part of the company's sustainability goals. The operations team cleanses hydraulic oil from its 50- and 100-tonne haul trucks through the kidney looping process, which works in a similar fashion to dialysis machines on nonfunctioning human kidneys. Victor mine's operations no longer ship waste oil off site and De Beers reduced hydraulic fuel use by nearly 20% in 2013.


Dec. $Mil. %Chng. YTD $Mil. %Chng.
Polished exports $1,100 16% $20,484 21%
Polished imports $380 -11% $6,864 29%
Net exports $720 37% $13,620 20%

Rough imports $1,652 -7% $16,304 8%
Rough exports $104 32% $1,785 17%
Net imports $1,548 -8% $14,519 8%

Net diamond account ($828) ($900)

Synthetic imports $7 100% $75 100%
Synthetic exports $6 -50% $83 62%

Diamond Industry Stock Report

U.S., Europe and Hong Kong retail shares lower, except for Birks (+6%), Blue Nile (+3%) and Signet (+3%). Indian shares mainly higher, led by Classic Diamond (+15%). Mining shares mixed with ALROSA (+9%) and Firestone (+9%) leading gains and Peregrine (-14%) on the downside. View the extended stock report.
Jan. 23 Jan. 16 Chng.
$1 = Euro 0.730 0.734 -0.004
$1 = Rupee 61.94 61.49 0.4
$1 = Israel Shekel 3.48 3.49 -0.01
$1 = Rand 11.01 10.89 0.12
$1 = Canadian Dollar 1.11 1.09 0.02

Precious Metals
Gold $1,262.70 $1,242.70 $20.00
Platinum $1,453.00 $1,427.00 $26.00

Stock Indexes Chng.
BSE 21,373.66 21,265.18 108.48 0.5%
Dow Jones 16,197.35 16,417.01 -219.66 -1.3%
FTSE 6,773.28 6,815.42 -42.14 -0.6%
Hang Seng 22,733.90 22,986.40 -252.50 -1.1%
S&P 500 1,828.46 1,845.89 -17.43 -0.9%
Yahoo! Jewelry 933.80 932.20 1.60 0.2%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
« Poslední úpravu provedl(a) grofik v 26. 1. 2014, 17:43. »
Registrovaný uživatel
Rapaport Weekly Market Comment Jan. 31, 2014

Polished markets stable with very strong demand for 30 and 40 pointers and large inventories building up at GIA. Polished buyers resisting higher prices based on rough. Far East demand slow with dealers on vacation for Chinese New Year. De Beers $700M Jan. sight sold out, 2013 production +12% to 31.2M cts. ALROSA 2013 production +7% to 36.9M cts. Letšeng mine 4Q sales +57% to $76M, average price +49% to $2,533/ct. Asian Star 3Q sales +80% to $159M, profit +159% to $4M. Titan Company’s 3Q revenue -11% to $425M, profit -19% to $26M. Belgium’s Dec. polished exports +6% to $1.1B, rough imports +17% to $1.1B. GIA unveils synthetic diamond detector. The Rapaport Group wishes a Happy & Prosperous Chinese New Year to all our friends.
RapNet Data: Jan. 30

Diamonds 1,065,966
Value $6,588,388,628
Carats 1,157,711
Average Discount -26.99%

Long-term, gold will always go up so long as we have a Federal Reserve printing money. But, on the short-term, the traders have a lot to say about this. A correction like we just had last year – one year out of 13 – that's not a big correction. That doesn't destroy a so-called bull market. The most important thing about gold is it restrains the temptation of those who think they know best in what interest rates should be and what the money supply should be.

Ron Paul | Former U.S. Congressman


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


De Beers Hikes Prices

The De Beers January sight closed with an estimated value of $700 million as the company raised prices by 5% on average. The price hike affected most categories, while the company also adjusted assortments in its boxes. Rough demand from the secondary market improved with solid premiums emerging on De Beers boxes. While there were requests for additional stones during the sight, De Beers did not have the goods to fulfill demand and there was little ex-plan provided.

Sightholders contended the price hike was slightly higher than expected with prices on small Z and small makeable boxes rising by more than 6%, while prices of the fine 2.5/4-carat box up about 4%. Traders were also at odds to explain how and why the rough market has suddenly become rather buoyant after a period of slow demand.

De Beers 4Q Production +13%

De Beers production rose 13% year on year to 9.132 million carats in the fourth quarter of 2013 and full year production grew 12% to 31.159 million carats. In the fourth quarter, Debswana's production grew 17% to 6.357 million carats, while DBCM's production rose 28% to 1.728 million carats. De Beers Canada production increased 20% to 582,000 carats and Namdeb's production rose 4% to 465,000 carats.

Annual production rose 12% to 22.207 million carats at Debswana, it grew 7% to 4.724 million carats at DBCM, increased 6% to 1.762 million carats at Namdeb and jumped 26% to 1.966 million carats at De Beers Canada.

ALROSA's 4Q Production +10%

ALROSA’s diamond production rose 10% year on year to 9.9 million carats in the fourth quarter that ended on December 31 and full year production grew 7% to 36.9 million carats. ALROSA sold 10.8 million carats during the quarter, including 6.7 million carats of gem-quality diamonds for an average price of $192 per carat and 4.1 million carats of industrial diamonds with an average price of $7 per carat.

ALROSA sold 38 million carats of diamonds in 2013. Sales included 26.7 million carats of gem-quality diamonds for an average price of $176 per carat and 11.3 million carats of industrial diamonds for an average price of $9 per carat. The company anticipates its 2013 revenue will grow around 10% year on year to $4.66 billion (RUB 165 billion).


Titan's Profit -19%

Titan Company Limited, the parent company of India's Tanishq brand, reported that sales of jewelry and watches, in addition to revenue from other business areas fell 11.3% year on year to $425.3 million (INR 26.76 billion) for the third quarter that ended on December 31. Operating expenses fell 11% to $388.8 million but profit after taxes fell 18.8% to $26.3 million. Jewelry sales, representing the majority of its revenue, fell 15.4% to $338 million, while watch sales rose 7.5% to $72.4 million.

Titan stated that jewelry sales during the festive season, in particular, were poor and that there was lower demand for gold jewelry for the duration of the quarter. The jewelry industry has been adversely impacted by regulatory measures that were implemented this year to restrict gold imports, according to the firm.

Asian Star's Profit Doubles

Asian Star Co. Ltd. reported that group sales rose 80% year on year to $159 million (INR 9.92 billion) during its third fiscal quarter that ended on December 31. Profit more than doubled to $4.3 million. Sales at the company’s cut and polished diamond segment jumped 85% to $141 million, while sales from its jewelry business, operating under the brand name of Shagun Jewels, rose 6% to $22 million. Operating profit from the company's diamond business more than doubled to $4.8 million, while jewelry segment profit rose 26% to $1.1 million.

Sotheby's Approves Special Dividend

Sotheby’s approved a special dividend of $300 million, or approximately $4.34 per share, to be distributed on March 17, following the company's review of capital allocation and financial policy. Sotheby’s board also authorized a $150 million share repurchase program, primarily as part of a new policy to offset annual employee stock dilution, with approximately $25 million of shares being repurchased by the end of 2014.

The auction house is considering selling its York Avenue headquarters in Manhattan and New Bond Street property in London to unlock further value for shareholders. Sotheby’s is also going to establish a separate capital structure and financial policy for two primary businesses – Agency (auction and private sales) and Sotheby’s Financial Services. This structure will allow Sotheby’s to optimize funding and establish clear return thresholds for each business: 15% return on invested capital for the Agency business and 20% return on equity for Financial Services.

Comvest Fund Buys Robbins Brothers

Comvest Partners acquired Robbins Brothers Jewelry Inc. from Weston Presidio for an undisclosed sum. Comvest invested in the jewelry chain through Comvest Investment Partners IV LP, a $582 million fund, and capital commitments came from a diverse group of pension plans, insurance companies and global private equity funds. Robbins Brothers filed for bankruptcy protection in 2009, blaming weak consumer spending and emerged one year later in stable condition. It then sold 10 of its 16 stores to minority stakeholder Weston Presidio.

Corvex Buys Into Signet

Hedge fund Corvex Management revealed that its stake in Signet Jewelers rose to 7.8% of outstanding shares, stating that it believed Signet to be undervalued. Corvex's senior leaders met with Signet's board this month calling those proceedings ''constructive'' and added it may again engage the retailer's management to discuss leveraging Signet's credit receivables and offshore structure, optimizing capital and/or accelerating mergers and acquisitions. Signet's board added that Corvex shared its views on Signet's balance sheet and capital structure.
Chow Tai Fook Plans 600 New Stores

Chow Tai Fook Jewelry Group Ltd. is planning to add 600 stores and expand its online sales network in Mainland China over the next three years. Most of the new stores will be located in China's third-tier and fourth-tier cities as those economies are on the fast-path to development. The company has more than 2,000 outlets worldwide, mostly in Mainland China. The demand for jewelry in China jumped 30% during the first three quarters of 2013, according to the National Bureau of Statistics.

David Yurman Opens in Canoga Park

David Yurman opened its newest boutique at the Westfield Topanga Center in Canoga Park, California. The retail jeweler hired the architectural firm of Gabellini Sheppard Associates to design the concept of its new stores. The Westfield Topanga boutique features 1,403 square feet of retail space, and design features follow classically modern architecture.

GJEPC Says Declare Detection

The Gem & Jewellery Export Promotion Council (GJEPC) contended that while it has put efficient synthetic detection methods in place, members must request a declaration on invoices, similar to the declaration used in rough diamond transactions, when purchasing diamonds in the country. GJEPC said follow the World Federation of Diamond Bourses (WFDB) guidelines of January 6, when using declarations and stressed traders to monitor the guidelines for updates and changes

DiamondCheck Debuts in New York

The Gemological Institute of America (GIA) developed DiamondCheck, a machine that detects differences between natural diamonds and man-made stones and debuted this technology in New York. DiamondCheck runs on GIA software and uses 3D imaging to label the diamond as “natural” or “non-diamond” or a third option, "further lab testing," when the initial finding is unclear.

While the machine can only test one stone at a time, it only takes about 10 seconds for the software to determine the result. The device can examine diamonds from 1 point to 10 carats and is 100% accurate, according to the lab. While DiamondCheck retails for $23,900, the GIA installed it at the Diamond Dealers Club in New York and will at the major bourses in Israel, South Africa, Dubai, Hong Kong, Shanghai and Tokyo.

Angola to Develop Finished Goods Sector

Angola plans to resume cutting and polishing in March with an objective of expanding to eventually produce jewelry as part of the National Development Programme. Currently, the diamond polishing plant includes a small jewelry operation to produce rings, earrings and necklaces. The nation expects to attract investment from the jewelry supply chain to enhance the value of its natural resources.

Panama Gem Center to Open

The Panama Gem & Jewelry Center in Panama is scheduled to open soon with a special gathering of government officials and industry players in Panama City on March 17 and 18. It will be the first dedicated facility for the diamond, jewelry and colored stones trades in the region that includes South and Central America, Mexico and the Caribbean. Anchoring the new center will be the Panama Diamond Exchange (PDE), which was established as the first and only diamond bourse in all of Latin America.

Faberge Hunt Hits New York

Fabergé will host The Fabergé Big Egg Hunt in New York from April 1 to 26 in collaboration with 200 artists and designers in order to raise funds for Elephant Family, founded by Mark Shand and Studio in a School, founded by Agnes Gund. The hunt begins April 1, all eggs will be collected from their hiding places and nested together in one location beginning April 18 and the eggs will be auctioned two days after Easter Sunday, on April 22, by Sotheby's. The public may continue to view the eggs on display together until April 26.

About 200 designers will create 300 giant egg sculptures that are about 2.5 feet in height and all of which will be blended into their surroundings across various locations and businesses in Manhattan and the boroughs. Artists receive 15% of the egg sculpture's final auction price along with open license to use The Faberge Big Egg Hunt logo, advertising and marketing activity. Faberge held a similar hunt in London in 2012, where it attracted 1 million participants and raised $1.5 million for charity.

Weil Dies at 87

Raymond Weil, the founder and honorary president of RAYMOND WEIL Gen&egrave;ve, maker of Swiss luxury timepieces, passed away peacefully at age 87, on January 26. Weil was regarded as a pioneer and entrepreneur in the watchmaking industry. In 1976, in the middle of the most severe watch industry crisis, Weil found his own company and turned his idea of what Swiss watchmaking should be into actual timepieces that would bring a new dimension to the industry. He was active in professional organizations, and Weil’s great loves of life were his family, painting, aviation and music.


Gem Diamonds' Sales Rise

Gem Diamonds reported that rough diamond sales from the Letšeng mine in Lesotho jumped 57% year on year to $75.6 million in the fourth quarter of 2013. The average price of the goods rose 49% to $2,533 per carat, while production fell 10% to 27,227 carats. Gem Diamonds noted that its final tender of 2013 achieved an average price of over $3,000 per carat, with firmer rough prices expected to continue into 2014.

Lucapa Unearths 95Ct. Stone

Lucapa Diamond Company recovered a 95.45-carat, type IIa diamond from its Lulo diamond concession in Angola. The diamond has an irregular equant shape and is the second-largest diamond recovered at Lulo, compared to a 131.40-carat, type IIa diamond recovered in 2012. Lucapa is still in the process of cleaning and retesting the diamond to resolve its color classification. The diamond is currently classified as D/E but has also has been described as brown.

Dominion Stages B2B Offering

Dominion Diamond plans to revitalize its CanadaMark certification and trademark in part through a complex business-to-business (B2B) platform, which has now entered the planning phase. Dominion Diamond has long discussed the possibility of selling diamonds directly online. The mining company expects the B2B model to initially handle rough sales and then lead into polished goods featuring the CanadaMark certification. In addition, selling polished diamonds direct would again allow the company to monitor prices and demand, insight it lost with the sale of retail arm Harry Winston Inc.

Rio Tinto Eyes Korba Hills

Rio Tinto will shift diamond exploration plans to the Korba Hills in India, citing security concerns against the Maoists in Bastar, according to the Indian Express. The company's application was based on aerial surveys which indicated there are diamond bearing deposits in the region. The Bastar region is geologically one of India's three oldest zones, the other two being the Deccan Plateau and the Bundelkhand region.

Gahcho Kue Operators Sign Tlicho Pact

De Beers Canada Inc. and Mountain Province Diamonds, joint partners in the Gahcho Kué diamond project, entered into an impact benefit agreement with the Tlicho Government, the body representing First Nations people of the Northwest Territories of Canada. The agreement has been in the works for the past few months and it creates a framework for De Beers and the Tlicho Government to work together over the life of the mine, enabling participation by the Tlicho people in the opportunities that the mine provides.

The agreement builds on the relationship De Beers already established for the Snap Lake mine and confirms a commitment to work together for the benefit of the Tlicho people at Gahcho Kué.

North Arrow Approves Budget, Program

North Arrow Minerals Inc. approved its 2014 exploration program and budget of $3.7 million to complete a bulk sampling program at the Qilalugaq diamond project, which is near the hamlet of Repulse Bay, Nunavut, Canada. The purpose of the program is to recover a diamond parcel of approximately 500 carats for the purpose of determining an initial value estimate for the diamonds in the Q1-4 kimberlite. North Arrow is funding the bulk sampling program as part of an option agreement with Stornoway Diamond Corporation.


$Mil. Dec. %Chng. $Mil. 2013 %Chng.
Polished exports $1,059 6% $13,882 5%
Polished imports $877 13% $13,299 3%
Net exports $182 -19% $583 90%

Rough imports $1,084 17% $13,288 8%
Rough exports $1,334 4% $14,626 8%
Net imports ($250) ($1,338)

Net diamond account $432 -37% $1,921 22%


Diamond Industry Stock Report

Negative week for the U.S., Europe and India as industry shares tumbled except for Birks (+9%), Signet (+7%) and Suashish (+2%). Mining shares mixed with double-digit gains for Shore, Peregrine and Stellar. View the extended stock report.
Jan. 30 Jan. 23 Chng.
$1 = Euro 0.738 0.730 0.008
$1 = Rupee 62.58 61.94 0.6
$1 = Israel Shekel 3.49 3.48 0.01
$1 = Rand 11.21 11.01 0.20
$1 = Canadian Dollar 1.12 1.11 0.01

Precious Metals
Gold $1,243.00 $1,262.70 -$19.70
Platinum $1,379.00 $1,453.00 -$74.00

Stock Indexes Chng.
BSE 20,498.25 21,373.66 -875.41 -4.1%
Dow Jones 15,848.61 16,197.35 -348.74 -2.2%
FTSE 6,538.45 6,773.28 -234.83 -3.5%
Hang Seng 22,035.42 22,733.90 -698.48 -3.1%
S&P 500 1,794.19 1,828.46 -34.27 -1.9%
Yahoo! Jewelry 922.99 933.80 -10.81 -1.2%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Feb. 7, 2014

Chinese New Year increases sales of affordable jewelry but luxury demand slows. Strong demand for 0.30-0.40ct. GIA dossiers. Large volume of polished goods expected to enter market with 50-day backlog at GIA and Indian cutters increasing manufacturing. January RapNet Diamond Index (RAPI) for 1ct. +1.2%, 0.30ct. +1.6%, 0.50ct. +2.3%. Rough trading steady as Indian cutters increase purchases before banks reduce credit in April. LVMH 2013 jewelry/watch sales -2% to $3.8B. Swatch 2013 profit +20% to $2.1B boosted by $500M Tiffany lawsuit. Blue Nile 4Q sales +7% to $146, profit flat at $4.9M. U.S. 2013 jewelry sales +8% to estimated $71.3B.

RapNet Data: Feb. 6

Diamonds 1,068,174
Value $6,662,161,342
Carats 1,157,752
Average Discount -26.89%

Get Current Price List | Subscribe to Rapaport | Join RapNet



Rapaport Melee Auction

New York & Belgium

View details.

Rapaport Single Stone Auction

New York & Israel

The Diamond Show

Markthalle Building, Basel, Switzerland

Visit - Exhibit - Learn More:

We disassociate ourselves from the (FATF, Egmont Group diamond industry money laundering) report. As the member nations of the FATF were asked to approve the report, mistakenly thinking that it had been prepared in cooperation with the WFDB, we reserve our right to present our positions directly to the members of the FATF plenary and to take any other steps to protect the legitimate, ethics-bound interests of the international diamond industry.

Ernie Blom | World Federation of Diamond Bourses


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


RAPI +1% in January

Diamond markets improved in January but manufacturers were concerned that higher rough prices were cutting their profit margins. Polished demand improved due to a solid U.S. market, while Far East demand was cautious and slowed as jewelers completed their Chinese New Year purchases.

In January, the RapNet Diamond Index (RAPI™) for certified 1-carat polished diamonds rose 1.2% during the month, while RAPI for 0.30-carat improved 1.6% and 0.50-carat jumped 2.3%. RAPI for 3-carat diamonds was up 0.2%. RAPI for 1-carat stones is down 3.4% year on year and RAPI for 3-carat is down 3.5%. RAPI for 0.50-carat is up 1.7% year on year, while RAPI for 0.30-carat jumped 10.9%.

Polished inventories were low throughout the pipeline, which influenced demand to rise during January. Cutters’ profit margins also improved as prices rose on polished diamonds that were manufactured from rough bought at reduced prices a few months ago. Simultaneously, polished suppliers were cautious not to raise prices too much as their program buyers demanded stability.

Jewelry Sales Rise in China

Preliminary consumer spending during China's New Year festival rose 13.3% year on year to $101 billion (CNY 610.7 billion), according to the Ministry of Commerce.

Xinhua news reported that horse-themed jewelry sold briskly, helping to drive jewelry sales up more than 30%. Sales of luxury goods, however, fell sharply during the holiday as the government continues to cracks down on gift-giving to officials and the consumer mood, in general, adopts a more frugal atmosphere.

The sale of expensive spirits and spending at luxurious restaurants experienced double-digit declines during New Year festivities.

U.S. Jewelry Sales +8%

U.S. jewelry and watch sales closed the year 2013 with solid growth, capping a period of relatively benign consumer price inflation (CPI) for the sector, which helped to maintain strong performance. Combined jewelry and watch sales in December rose 6.4% year on year to almost $17 billion, according to preliminary government figures. Sales growth for November was revised seven percentage points lower to 8.4% and $7.4 billion.

Preliminary sales totals for 2013 found that jewelry sales rose 7.7% to $71.3 billion, while watch sales improved 8.1% to $9.5 billion. The CPI for jewelry, meanwhile, was basically flat in 2013, or down just 0.4% to 177.6 points. However, the CPI for watches increased 2.8% to 121.3 points and reached a record 124.3 points in July.

During the year, jewelry sales growth was strongest in April, when the sector recorded its only double-digit increase at 11.1% to $4.94 billion. While sales growth reached its second-highest level in November, jewelry sales also improved better than 9% in January, March, June and October. The watch sector was given a boost from higher consumer prices and recorded the strongest sales increase in October at 12.2% to $688 million, but double-digit increases were also recorded in January, March, April and July.


Blue Nile's Profit Flat

Blue Nile Inc.'s revenue rose 7.2% year on year to $145.96 million in the fourth quarter that ended on December 29. The cost of sales increased 7.5% to $118.74 million. Blue Nile's profit for the quarter was flat at $4.93 million or 38 cents per share. Gross profit as a percent of net sales fell slightly to 18.6% compared with 18.8% one year earlier.

U.S. engagement-related sales in the fourth quarter, which included Christmastime, improved 6.9% year on year $78.7 million, while jewelry category sales improved 8% to $45.9 million. Blue Nile's international sales improved 6.8% year on year to $21.4 million in the fourth quarter; however, the company recorded a 4.1% negative impact from foreign-exchange movement.

In other news, Blue Nile announced that its president of international sales and general manager, Vijay Talwar, is no longer with the company.

LVMH Jewelry sales -2%

LVMH reported that revenue rose 2.4% year on year to $11.3 billion (EUR 8.4 billion) in the fourth quarter that ended on December 31 and full year sales increased 4% to $39.4 billion. While annual profit from recurring operations improved 2% to $8.1 billion, the group's share of net profit was flat in 2013 at $4.6 billion.

LVMH's watch and jewelry division sales for the full year fell 1.8% year on year to $3.8 billion, following small declines in each fiscal quarter. During the fourth quarter, which included the Christmas season, jewelry and watch sales slipped 0.7% to $1.1 billion, while sales fell 1.9% in the third quarter to $914 million. The sector's sales dropped 3.8% in the second quarter to $926 million after a 1 percent decline in the first quarter at $842 million. Organic sales during the year, however, increased 4%, combining same-store sales at comparable exchange-rates. LVMH plans to propose a dividend of EUR 3.10 ($4.19) per share for the full year, an increase of 7% from 2012.

Swatch Profit +20%

The Swatch Group's profit rose 20.2% year on year to $2.1 billion (CHF 1.928 billion) in 2013. The company's gross margin improved to 22.8% from 20.6% one year earlier. Both figures were positively impacted by three margin points from a $500 million cash settlement with Tiffany & Co. As reported earlier, Swatch's annual group sales increased 8.3% to $9.8 billion and included a full year of revenue from its watch brand, nine months of sales from Harry Winston jewelry boutiques and two months of revenue from Rivoli Investment. The board proposed an 11.1% increase in Swatch dividends to CHF 7.50 ($8.30) for bearer share.

Pure Gold's Festival Sales Rise

Pure Gold Jewellers reported a 25% year on year increase in gold jewelry sales during the important Dubai Shopping Festival (DSF) this year. The company also reported an 8% surge in diamond jewelry sales during the same period; however, hard totals were not provided. Karim Merchant, the CEO of Pure Gold Jewellers, observed that strong festival promotions, holiday packages and an increase in tourists from India all helped to boost sales.

JCP Posts Small Sales Increase

J. C. Penney Company Inc., which has experienced a 71% year on year decline in its share price, provided a preliminary sales recap for the fourth quarter. Same-store sales for the months of November and December combined rose 3.1% year on year and they increased 2% for entire fourth quarter that ended on January 31. Online sales at rose 26.3%. Strong sales categories for the Christmas period included Sephora, activewear, sweaters, outerwear, dresses, boots, men's clothing and luggage.

Jewelry Spending Predictions Vary

The National Retail Federation (NRF) concluded that U.S. consumers are not ready to splurge as much on jewelry for Valentine's Day 2014 as they had one year ago. The NRF estimated that total Valentine's spending on gifts would reach $17.3 billion, with an average budget of $133.91 for those who celebrate the festival. However, only 19% of those intending to shop plan to purchase jewelry this year, down from 19.7% in 2013, and the NRF estimated that jewelry sales would approach $3.9 billion this year compared with $4.4 billion one year ago.

The gift choices that top jewelry this year include candy, flowers greeting cards and dining out.

In a separate study, which included affluent households, American Express concluded that Valentine's spending would reach $37 billion, on an average gift budget of $213, down from $239 in 2012; and that 24% of men would chose jewelry gifts this year, down from 25% in 2012. The study also reported that six million love birds expect a Valentine's engagement this year and the average price tag for an engagement ring should be $2,311, down from $2,410 in 2012. Thirty-eight percent of couples defined an ''appropriate'' price tag for an engagement ring to be less than $1,000, while 16% chose the highest option at a price of $5,000 or more.

Meanwhile, IBISWorld determined that the average gift spending budget would increase 82 cents to $135.10 and that jewelry gift spending would increase 4% to $1.7 billion out of a holiday total of $21.6 billion. Top gifts for Valentine's Day by the amount of spending were: dining out, candy, romantic getaways, flowers, jewelry, clothing and greeting cards.

Raymond Weil Debuts Toccata

Raymond Weil presented its new toccata collection with entry-level price points meant to appeal to a wider audience. Raymond Weil pays homage to the source of its inspiration right from the beginning, by celebrating the one who is behind every great musical work – the composer. Toccata embodies the brand’s boldness and creativity. The dials display a simple but precise musical score under the baton of the orchestra’s conductor, which sweeps back and forth incessantly over the indexes or Roman numerals.

U.S. Credit Cards are Antiquated

Following the highly publicized cyber attacks on consumer credit data at two major U.S. retailers, the Retail Industry Leaders Association (RILA) told a Senate hearing that retailers, together with banks and credit card firms, must advance technology and collaborate to prevent security breaches in order to safeguard consumers’ financial data.

RILA recently establishment a trusted forum through which retailers can share threat information and advance effective security solutions and collaborate with other stakeholders in the payments system. But retailers have no influence over third parties and need cooperation from the banks and credit card companies. Retailers have long held the belief that U.S. credit card technology is antiquated, which invites criminal behavior.


Trade Group Condemns Gem Ban

The Peshawar-based All Pakistan Commercial Exporters Association (APCEA) called a recent gemstone export ban unfair because it resulted in 3,000 gem and jewelry exporters losing their business. Pakistan exports ruby, emerald, sapphire, lapis, quartz, tourmaline, aquamarine and peridot, and all shipments since January 23 have been held by the Pakistan Customs authority at the Peshawar airport. The government ordered the export ban in an attempt to discourage smuggling gold into India. However, Pakistan's Ministry of Commerce told Plus News that exporters simply needed to register and pay a fee of $285 (PKR 30,000). APCEA vowed to protest the ban and new registration measures.

DMCC Expands Responsible Sourcing

The Dubai Multi Commodities Centre (DMCC) launched its responsible sourcing market deliverable brand (MDB) accreditation to certify gold and silver refineries. The certification evaluates responsible sourcing of gold bars in accordance with the DMCC Guidance and Review Protocol. The measure provides industry participants with the assurance that they can trade with confidence, knowing that upcoming refineries in the UAE comply with international trade and responsible sourcing, according to the DMCC.

De Beers Adds to Its Executive Board

De Beers Group appointed the following three men to its executive committee: Paul Rowley, the executive vice president of global sightholder sales, Neil Ventura, the executive vice president of auction sales and Balisi Bonyongo, the CEO of beers Rowley joined De Beers in 1983, Ventura joined the firm in 1989 and Bonyongo started his career with Debsw

Dominion Updates Mine Plans

Diamond production from reserves at the Diavik mine in Canada is expected to decline about 7% to 5.97 million carats in 2014, Dominion Diamond Corporation reported. An updated mine plan also anticipates the company's operating costs will decline 16% to about $400 million (CAD 408 million) in 2014 as Dominion mines an increased amount of ore. The expected reduction in operating costs is mainly as a result of completion of the underground development in 2013, with no additional capital requirements. In 2014, operating costs will include mainly mine maintenance, human resources and fuel costs for power and equipment. Based on the mine plan, Diavik's reserve base will support mining up to 2023.

Dominion also owns an 80% stake in the Ekati mine, which is projected to produce 1.22 million carats in 2014 from the Fox, Misery, Pigeon and Lynx open pits and the Koala and Koala North underground operations. Ekati's operating costs in 2014 are anticipated to reach about $310 million and include development for the Misery pipe, Pigeon and Lynx. Production at Ekati is forecast to run through to fiscal 2020.

Winter Ice Road in Full Operation

The Diavik diamond mine in Canada’s Northwest Territories began its annual mine resupply program and expects to transport approximately 2,700 loads of fuel, cement and other operating supplies using the winter ice road. The Tibbitt to Contwoyto Winter Ice Road opened on January 30 with an ice thickness of 28 inches, in line with previous years. The first deliveries were dispatched from Yellowknife and had gross vehicle weights of up to 32,000 kilograms or about half the maximum capacity.

The Diavik, Ekati and Snap Lake diamond mines and other smaller exploration companies, expect to transport approximately 7,000 loads on the winter ice road. This year is expected to be the busiest year for the ice road since 2007 and prolonged frigid weather has helped support building the road. The Tibbitt to Contwoyto Winter Road is the world’s longest heavy haul ice road and extends 600 kilometers, when built into Nunavut. The vast majority of the road is constructed over frozen lakes that are connected by 60 land portages. Weather permitting, the ice road is open for approximately 10 weeks each winter and is a joint venture managed by the owners of Diavik, Dominion Diamond Corporation and De Beers Canada.

Lace Underground is Ahead of Budget

DiamondCorp reported that underground development at its Lace mine in the Free State province of South Africa continues on schedule and within budget. As of December 31, Lace's underground tunnel development was 15% complete and at 94% of planned budget. The company plans to hire two additional mining crews to complete the project by the end of March. The company anticipates holding a rough sale in February from Lace tailing and has scheduled nine additional sales this year.

Rio Tinto Funds Hospital Expansion

Rio Tinto donated $50,000 to fund a new ward in the Chhatarpur district hospital in Madhya Pradesh, home to the mining giant's Bunder diamond project. The contribution will fully fund the construction of a 215-square-meter ward, providing much needed hospital beds in this under resourced region. Rio Tinto’s initiatives have also included, providing free health clinics and mobile medical camps, mother and child nutrition programs in the local villages to address high rates of child malnutrition and efforts to eradicate communicable diseases such as HIV/AIDS and tuberculosis.

Rockwell Introduces BEE Partner

Rockwell Diamonds Inc. formally announced that its new black economic empowerment (BEE) partner is African Renaissance Holdings Limited of South Africa, a company that agreed to acquire 30% equity interest in the mining company's Middle Orange operations. Rockwell has been vetting its new BEE partner since December and confirmed that African Renaissance fulfilled most of the conditions required. African Renaissance Holdings was established early in 1994 and it pursues investment opportunities in both listed and unlisted entities in sectors such as telecommunications, mining, diamonds and related services.


Diamond Industry Stock Report

Investor worries prevailed in the U.S. for a second week as Blue Nile (-18%) disappointed the market with weaker than expected results, in the face of its brick-and-mortar competitors gaining steam with their own ecommerce channels. Only Charles & Colvard (+4%), Kohl's (+1%), Sotheby's (+4%) and Tiffany (+3%) posted gains. European shares were all higher, led by LVMH (+9%). Indian shares were mostly higher as Suashish (+14%) led the way and Goenka (-6%) led declines. Mining shares were mostly lower with biggest declines from Peregrine (-15%), Rockwell (-11%) and Shore (-14%). View the extended stock report.
Feb. 6 Jan. 30 Chng.
$1 = Euro 0.734 0.738 -0.004
$1 = Rupee 62.24 62.58 -0.3
$1 = Israel Shekel 3.53 3.49 0.04
$1 = Rand 11.03 11.21 -0.18
$1 = Canadian Dollar 1.11 1.12 -0.01

Precious Metals
Gold $1,257.50 $1,243.00 $14.50
Platinum $1,373.00 $1,379.00 -$6.00

Stock Indexes Chng.
BSE 20,301.74 20,498.25 -196.51 -1.0%
Dow Jones 15,628.46 15,848.61 -220.15 -1.4%
FTSE 6,558.28 6,538.45 19.83 0.3%
Hang Seng 21,423.13 22,035.42 -612.29 -2.8%
S&P 500 1,773.43 1,794.19 -20.76 -1.2%
Yahoo! Jewelry 948.88 922.99 25.89 2
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Feb. 14, 2014

Polished markets stable as prices firm but buyers are selective and waiting for Hong Kong show results. Far East sentiment improves after good Chinese New Year jewelry sales. Chow Tai Fook’s holiday revenue +32% with gem-set jewelry same-store sales +13%. Rough prices surging to unsustainable levels as Indian manufacturers make use of easy government supported bank credit that may end in April. Rio Tinto diamond revenue +15% to $852M, net earnings of $53M vs. loss of $25M in previous year. China’s 2013 gold consumption +41% to 1,176t., gold jewelry +43% to 716.5t. U.S. 2013 polished imports +16% to $22.9B, polished exports +15% to $19.1B, net diamond account +23% to $4B.

RapNet Data: Feb. 13

Diamonds 1,039,660
Value $7,006,426,001
Carats 1,139,089
Average Discount -26.92%
Get Current Price List | Subscribe to Rapaport | Join RapNet

We are experiencing some increase in rough diamond prices but are happy to note that the prices of polished diamonds have also started to rise in sync with the rough prices. We are also pleased to see the rise in demand in the U.S. market, as well as in the Middle East, India and China. While the rise in demand is marginally lower than last year, the trends are positive. The ongoing quarter is important for us and we are pleased with the way it is progressing so far.

Shreyas Doshi | Shrenuj & Co. Ltd.


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


U.S. Jewelry Store Sales +2%

U.S. jewelry store sales rose 1.6% year on year to $6.545 billion in December, the weakest sales increase of the year. Jewelry store sales surged 15.1% in October, followed by an equally strong increase of 11.1% in November. As reported earlier by Rapaport News, total U.S. jewelry and watch sales in December increased 6.4% year on year to $16.585 billion.

Despite the lackluster sales growth rate for the most important retailing month of the year, jewelry store sales increased 8% to $34.01 billion in 2013, while the consumer price index for jewelry was flat and it rose 2.8% for watches. Comparatively, preliminary sales for jewelry in 2013 rose 7.7% to $71.3 billion and watch sales improved 8.1% to $9.5 billion. Jewelry sales and store sales performed extremely well during the year when compared with department store chains, where sales declined 4.7% to $174.7 billion. Advanced estimates for department store sales in January continued to show weakness as revenue declined 3.9% year on year to $11.232 billion.

Sales Jump at Chow Tai Fook

Chow Tai Fook reported that group revenue grew 32% year on year during the Chinese New Year period, continuing the momentum of strong gold and gem-set jewelry sales that dominated the company's fourth quarter. Chow Tai Fook did not provide hard totals. During the period January 17 to February 3, revenue from Mainland China jumped 34%, while revenue from Hong Kong and Macau rose 28%. Same-store sales growth during the festival increased 15% with same-store sales growth up 18% in Mainland China and 11% for Hong Kong and Macau.

Shrenuj's Profit -1%

Shrenuj & Company Ltd. reported that group sales fell 10.7% year on year to $205 million (INR 12.772 billion) for the third quarter that ended on December 31. Diamond revenue dropped 10.4% to $173 million and studded jewelry sales declined 12.3% to $35.2 million. Profit after minority interest slipped 1.4% to $3.4 million. Revenue for the first nine months of the company's fiscal year improved 15.8% to $552 million and profit after minority interest jumped 19.3% to $10.1 million.

Shrenuj & Company defined the third quarter as a ''fairly challenging'' period, with mixed demand and consumption patterns across the luxury segment; however, the company optioned not to sacrifice margins just to improve revenue.

TBZ's Profit -23%

Tribhovandas Bhimji Zaveri (TBZ) Ltd. reported that its revenue fell 10.1% year on year to $83.3 million (INR 5.189 billion) for the third quarter that ended on December 31. Expenses dropped 10.8% to $76.7 million. Profit after taxes and minority interest dropped 22.9% to $3.1 million. Revenue came under pressure from difficult market conditions as demand softened and government restrictions limited the availability of gold, according to the firm.

Renaissance's Profit Improves

Renaissance Jewellery Ltd. reported that revenue surged 41.9% year on year to $58.3 million (INR 3.63 billion) in the third quarter that ended on December 31. The manufacturing firm's expenses jumped 37.9% to $55.1 million and profit grew to $2.4 million from $350,000 one year ago. Renaissance Jewellery manufactures and sells studded jewelry in gold, silver, platinum, polished diamonds and precious color stones.

Lypsa's Profit -31%

Lypsa Gems and Jewellery Limited reported that revenue rose 56% to $20.4 million (INR 1.27 billion) in the third quarter that ended on December 31. Expenses declined by 17% to $19.9 million, however, profit fell 31% to $328,705. Lypsa Gems operates in Mumbai and Gujarat. The company's business activities include rough diamond preparation and polishing, manufacturing and trading.

Tara Jewels' Profit -33%

Tara Jewels Limited reported that its revenue rose 0.4% year on year to $81.3 million (INR 5.05 billion) for the third fiscal quarter that ended on December 31. The company's profit fell 33% to $3.5 million. The company experienced 6% growth across its international business, which accounted for 85% of its revenue. Demand primarily stemmed from the U.S., China and Australia. Tara's retail business in India was flat largely due to the challenging regulatory environment restricting gold imports.

Omni-Channel Benchmarks for 2014

Forrester and IBM collaborated on an insights webinar to help retailers prepare for the 2014 Christmas selling season. One key takeaway from the previous holiday was that more than half of online shoppers made self-purchases in November, prior to Thanksgiving Weekend, which presents an opportunity this year to tap into that consumer niche with personalized product promotions. Online shoppers switched to primarily gift purchases beginning CyberMonday and continuing through to when shipping offers expired before Christmas Eve.

A second trend confirmed by ShopperTrak was that more shoppers chose to avoid chaos and crowded stores during the 2013 holiday season. Forrester found that 80% of those who shopped online between Thanksgiving and Christmas did so just to avoid crowds. And they are increasingly tapping their tablet devices to make those gift purchases, while using mobile phones to search ahead of time.

Consumers can always find better prices online and mobile apps are becoming the most popular way for shoppers to track them down, according to IBM. The tech firm suggested that today’s excellent marketing and merchandising operations represent an omni-channel strategy that personalizes products and creates dynamic pricing along with offering delivery options. This is nearly impossible for a retailer that hasn't integrated its supply chain; however, smaller-scale enterprises could adopt a modular solution that can be expanded over time or an open solution that integrates into its existing backend to accommodate these trends. Two stellar mobile retail examples that retailers should study and emulate are provided by Uber and Domino's Pizza, according to IBM.

Free shipping is now expected by consumers, according to Forrester, and the group anticipates that shipping rates will increase this year, which will further pressure retail margins. Their advice to retailers is to build upon instore pickup or ship-to-store options as part of their omni-channel strategy to save on delivery costs. The group also warned retailers not to utilize upstart local delivery services due to widespread complaints.

Earrings for Girls, Watches for Boys Inc. surveyed 800 consumers in the U.S. and found that this year, 45% of couples simply plan an old fashioned and simple Valentine's Day date with their significant other. Additionally, 62% plan to express their Valentine's Day wishes on a hand-written card, while 27% will text message their thoughts and 15% will use social media to convey their feelings.

Of those in the survey who did choose jewelry as a gift choice this year, 52% of women preferred earrings, about the same percentage as the survey revealed in 2013. Necklaces ran a close second place and bracelets were in third. Engagement rings did not make the top five jewelry choices. Sixty-seven percent of men who chose jewelry as a Valentine's Day gift selected watches.


Diamond Earnings Rise for Rio Tinto

Rio Tinto reported that revenue from its diamond unit rose 15% year on year to $853 million in 2013. The diamond division posted net earnings of $53 million compared with a loss of $25 million. The company noted that polished diamond prices were relatively stable throughout 2013 with slightly greater volatility experienced in rough diamond prices.

Production attributed to the company ‎rose 22% year on year to 16.027 million carats. Rio Tinto forecast diamond ‎production of 16 million carats in 2014.‎ The underground Argyle diamond mine in Australia commenced production and continues to ramp up to full capacity, which will extend its life through 2020.

Gem Uncovers Two Large Stones

Gem Diamonds recovered a 162.06-carat, type II diamond and a 161.74-carat, type I diamond from the Letšeng mine in Lesotho at the end of January. Both diamonds were mostly undamaged in the extraction process, which the company attributed to implementing technology to reduce diamond breakage.

Gem anticipates the two stones will achieve top prices this month through a tender sale.

Zimbabwe Holds a Second Rough Sale

Zimbabwe's Mines and Mining Development Minister, Walter Chidhakwa, told Xinhua that Antwerp is hosting a second rough sale of Marange diamonds through February 21. Due to U.S. sanctions, these diamonds may not be traded, in rough or polished form, by companies operating in the states. Chidhakwa expressed hope that this second auction would achieve higher prices than Zimbabwe's first sale in December, when 300,000 carats generated about $10.7 million.

The minister added that Zimbabwe also plans sales in China, the United Arab Emirates and Botswana. Discussions are also underway to create a Zimbabwe Diamond Exchange to hold sales in Harare.

NDTC Sales Contracts End in 2015

Namibia Diamond Trading Co. (NDTC) anticipates assigning rough sales contracts next year at the end of its current sightholder period with 12 firms. The number of sightholders for the new contract period could change, depending upon market conditions and the availability of goods. The company offered about $850 million worth of rough diamonds in the current contract cycle.

Kimberley Preps E9 at Ellendale

Kimberley Diamonds will recommence mining at the E9 west pit of the Ellendale mine in Western Australia as soon as the wet season ends in order to access higher-grade ore. Mining at E9 was suspended in June 2013 as a result of slippage of the pit wall due to heavy rain. The company completed the construction of a buttress to allow safe access to the pit in November 2013.

Court Upholds Lucara

Lucara Diamond Corporation confirmed that Botswana's Court of Appeals upheld the High Court's dismissal of a royalty claim against the mining company's subsidiary African Diamonds Plc. Lucara was taken to court in August 2011 by two former directors of African Diamonds, alleging that they were entitled to a 3% royalty on production from the Karowe (AK6) diamond mine. The High Court dismissed the claim in June 2011, the plaintiffs appealed and the Court of Appeals heard the case on January 21.


Dec. $Mil. %Chng. 2013 $Mil. %Chng.
Polished imports $1,684 25% $22,850 16%
Polished exports $1,273 2% $19,098 15%
Net imports $411 $3,752 23%

Rough imports $81 -17% $551 0%
Rough exports $45 -17% $312 -11%
Net imports $36 -16% $239 11%

Net diamond account $447 $3,991 23%

Diamond Industry Stock Report

U.S. shares mainly lower led by Blue Nile (-7%), while Hong Kong and Europe were higher led by Chow Sang Sang (+9%) and Richemont (+3%). Indian shares mainly flat, but positive and Suashish (+6%) led gains. Mining shares all higher with a blowout for Stornoway (+17%) in heavy trading, but ALROSA (-3%) was the exception. View the extended stock report.
Feb. 13 Feb. 6 Chng.
$1 = Euro 0.730 0.734 -0.004
$1 = Rupee 62.43 62.24 0.2
$1 = Israel Shekel 3.51 3.53 -0.02
$1 = Rand 10.97 11.03 -0.06
$1 = Canadian Dollar 1.09 1.11 -0.02

Precious Metals
Gold $1,301.90 $1,257.50 $44.40
Platinum $1,412.00 $1,373.00 $39.00

Stock Indexes Chng.
BSE 20,193.35 20,301.74 -108.39 -0.5%
Dow Jones 16,027.59 15,628.46 399.13 2.6%
FTSE 6,659.42 6,558.28 101.14 1.5%
Hang Seng 22,165.53 21,423.13 742.40 3.5%
S&P 500 1,829.82 1,773.43 56.39 3.2%
Yahoo! Jewelry 960.73 948.88 11.85 1.2%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Feb. 21, 2014

Far East demand improves with rising expectations for Hong Kong show. Polished trading stable with firm asking prices, shortages and selective demand. Rough markets very strong and speculative as Indians dominate market and dealers expect further price hikes at next week’s sight. De Beers 2013 revenue +5% to $6.4B, rough sales +5% to $5.8B, earnings +5% to $532M, average prices +5%. Petra Diamonds sells 29.62ct. blue rough diamond for $25.6M ($863K/ct.), 1H revenue +19% to $185M, profit of $28M vs. loss of $15M. Signet Jewelers to buy Zale Corp. for $1.4B. Gitanjali Gems 3Q revenue -37% to $447M, profit -71% to $8.2M. India’s Jan. polished exports -2% to $1.7B, rough imports +27% to $1.3B.

RapNet Data: Feb. 20

Diamonds 1,048,864
Value $6,956,706,010
Carats 1,148,116
Average Discount -26.92%

Get Current Price List | Subscribe to Rapaport | Join RapNet


Rapaport Melee Auction

New York & Hong Kong

View details.
Rapaport at HK Intl. Diamond, Gem & Pearl Show

Exhibiting at the Hong Kong March show? Upload your show diamonds here for display on RapNet's show listing page.

Visit Rapaport in Hall 2, Booth F09


Rapaport Single Stone Auction

New York & Israel

The Diamond Show

Markthalle Building, Basel, Switzerland

Millennials will reject their parents' materialistic status symbols in favor of celebrating achievements. Unity's research found that millennials are far more satisfied by earning a degree or completing an athletic event than they are by status symbols available for purchase. What will it mean when millennials are more interested in a $500 Ironman triathlon watch to mark an achievement rather than a $5,000 brand name piece?

Pam Danziger | Unity Marketing


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.

Gold Jewelry Demand by Value Declines

Global gold demand by value plummeted 28% year on year to $170.4 billion in 2013, according to the World Gold Council. By volume, gold demand dropped 15% to 3,756 tonnes. However, gold jewelry demand by weight surged 17% year on year to 2,209.5 tonnes even though gold jewelry demand by value fell slightly to $100.25 billion compared with $101.75 billion in 2012. The World Gold Council noted that that average price of gold fell 27% during 2013 to $1,411.20 per ounce.

During the fourth quarter, gold jewelry demand by weight fell 2% year on year in India to 150.7 tonnes; however, demand jumped 10% to 160.5 tonnes in Greater China. Gold jewelry demand surged 21% in the U.S. to 48.4 tonnes and rose 8% in Europe to 24.1 tonnes. Demand from the Middle East fell 2% to 33.3 tonnes, primarily due to severe economic strife in Egypt.

By dollar value, jewelry demand fell across the board during the fourth quarter due to lower prices. India's gold jewelry demand dropped 27% to $6.183 billion, China's demand fell 18% to $6.585 billion, the Middle East declined 4% to $496 million, while in the U.S., gold jewelry demand plunged 10% to $1.986 billion and in Europe demand plummeted 20% to $989 million.

Signet to Buy Zale, Law Firms Cry Foul

Once approved by shareholders and regulators, Signet Jewelers Limited intends to acquire long-time rival Zale Corporation for $21 per share, or approximately $1.4 billion in total. The deal was kept under wraps until being announced Wednesday and prompted numerous law firms, including Johnson & Weaver, Bernstein Leibhard, Farugi & Farugi, Pomerantz LLP and Levi & Korsinsky, to name a few, to charge that Zale's board breached its fiduciary duties to shareholders by selling the company short and for not seeking alternative bids.

Jim Baker, the lead analyst for Johnson & Weaver, said that, “Signets’ offer appears to be inadequate and not in the best interest of Zale’s shareholders. Zale shareholders weathered a long turnaround and now when the company is back on track the company is being sold from underneath them.”

Nonetheless, Signet's offer represents a premium of 41% over Zale's closing price of $14.91 on February 18. Signet has also entered into a voting and support agreement with Golden Gate Capital, the beneficial owner of approximately 22% of Zale's common stock. The transaction is expected to be high single-digit percentage accretive to earnings in the first full fiscal year after closing the deal.

Signet claimed the merger strengthens its omni-channel presence, product diversity and combined operations would ultimately create better choices for consumers in the U.S., Canada and the U.K. Prior to the announcement, financial services firm Stephens Inc. downgraded Zale due to unfavorable mall traffic trends in February and concerns about weak spending on Valentine's Day. Stephens lowered Zale's price target to $15 from $16.50 per share. Sterne Agee analyst Ike Boruchow wrote in a note to clients prior to this news that Signet's rating was lowered to ''neutral,'' with a price target of $79.28, as the consumer environment for jewelry is growing increasingly choppy. Sterne Agee favored Tiffany & Co.'s fundamentals.

De Beers Profit Improves

De Beers revenue rose 5% year on year to $6.4 billion in 2013, rough sales also rose 5% to $5.8 billion. De Beers rough diamond price index increased 2% with an ''average realized'' rough diamond price hike of 5% in 2013. De Beers noted that rough prices rose strongly during the first half of last year but this trend reversed during the second half. De Beers operating profit jumped to $1.003 billion from a revised $474 million in 2012. The diamond firm's contributing share of Anglo's profit nearly doubled to 15% from 8%.

De Beers share of profit rose 5% to $532 million. Capital expenses during the year increased to $551 million from $161 million. As reported earlier, De Beers production increased by 12% to 31.2 million carats, driven by improvements from operations in all regions, but in particular, Botswana and Canada.

De Beers reported that Forevermark polished sales were strong in 2013, without citing hard totals, and the number of doors increased 39% due primarily to expanding the brand in the U.S., China, Japan and India. The brand is now available at more than 1,200 retail partners in 12 major markets. De Beers expects only a slight but steady improvement in growth for polished diamonds and diamond jewelry in 2014, with the U.S. and China being the main drivers.


U.S. Jewelry Inflation -2%

The U.S. consumer price index (CPI) for jewelry declined 1.7% year on year to 173.78 points in January, the lowest index reading since July 2012. The CPI for watches was basically flat in January, down by just 0.3%, at 120 points or four points lower than the record high of 124.3 that was just set in July 2013.

Contributing to a slightly lower jewelry price index during the month was continued price pressures on commodities. The price for gold in January was about 18% lower year on year, while platinum was down 12%. The RapNet Diamond Index (RAPI), the global benchmark for polished diamond prices, fell 3.4% year on year for 1-carat diamonds, while RAPI for 3-carat diamonds dropped 3.5%. RAPI for 0.50-carat stones increased 1.7% and the index jumped 10.9% for 0.30-carat diamonds.

Meanwhile, the CPI for all product categories in January increased 1.6% year on year to set a new record high of 234.93 points.

Pandora's Profit +85%

Pandora Jewelry reported that revenue surged 35.4% year on year to $1.66 billion (DKK 9.01 billion) for fiscal year that ended on December 31. Cost of sales also rose 35.4% and reached $555 million, while sales, distribution and marketing expenses increased 15% to $441 million and administration expenses rose 5.9% to $170 million. Pandora's profit during 2013 jumped 84.7% to $409 million.

During the fourth quarter, which included the Christmas season, group revenue improved 29.8% year on year $520 million, led by strong growth in all regions. Sales in local currency jumped 20% for the Americas where same-store sales rose 5.1% and revenue improved 45.3% in Europe, with same-store sales jumping by 17.9%. Revenue surged 59.5% in the Asia Pacific and comparable-store sales increased 25.5%. Pandora's gross margin during the fourth quarter improved to 68% compared with 64.5% one year earlier. The average price per item sold dipped 4.5% to $23.21 (DKK 126) as the company changed the product mix.

Rajesh Exports' Profit -30%

Rajesh Exports reported that its revenue fell 36% year on year to $808.7 million (INR 50.23 billion) in the third quarter that ended on December 31. The company's profit fell 30% to $14.8 million. The quarter was highly challenging in light of the various government restrictions on gold and gold jewelry businesses to contain India's current account deficit. The company intends, however, to continue expanding its retail presence, which operates under the brand name SHUBH Jewellers.

Gitanjali's Profit -71%

Gitanjali Gems Ltd. reported that its revenue declined 37% year on year to $447 million (INR 27.59 billion) in the third quarter that ended on December 31. The company's profit fell 71% to $8.2 million. By segment, diamond sales fell 27% to $222 million, while jewelry sales declined by 37% to $262 million. During the first nine months of the fiscal year, revenue decreased 17% to $1.56 billion and profit plunged 79% to $20.6 million.

Winsome Anticipates a Loss

Winsome Diamonds & Jewellery Ltd. reported preliminary revenue from sales for the quarter that ended on December 31 dropped to $189,000 (INR 11.7 million) compared with $230 million one year earlier. Total revenue fell to $449,000 from $230.5 million. The company filed its preliminary quarterly details on the Bombay Stock Exchange (BSE), stating that manufacturing operations and normal revenue-generating activities have come to a standstill from lack of access to capital. Total expenses were $642,000, down from $226.4 million one year earlier. Finance costs jumped to $20.2 million from only $2.9 million, leading the company to report a loss of $20.2 million compared with profit of $2 million.

USPTO Assigns 'Cafe Au Lait Diamonds'

The U. S. Patent & Trademark Office (USPTO) assigned the trademark ''Café Au Lait Diamonds'' on February 11 to Columbia Insurance Company of Omaha, Nebraska with the registration number 4482759. The company manages trademarks on behalf of its parent company Berkshire Hathaway, which owns Helzberg Diamonds, Ben Bridge Jeweler and Borsheim's Jewelry. The trademark was requested on February 26, 2013 and first used in commerce in September that year. The ''Café Au Lait Diamonds'' trademark refers to jewelry, namely, rings, pendants and earrings.


Petra Returns a Profit

Petra Diamonds Limited sold an exceptional 29.62-carat blue rough diamond recovered from the Cullinan mine in South Africa during a highly competitive bidding process. The diamond fetched $25,555,555 or $862,780 per carat. The diamond was bought for Cora International NY through the South African company Golden Yellow Diamonds.

In financial news, Petra Diamonds posted a net profit of $28.4 million during the fiscal half year that ended on December 31, which was up from a loss of $15.2 million one year earlier. Profit was driven by a significant increase in the company's revenue and production during the period. Petra reported that revenue grew 19% year on year to $185.5 million during the six months, while the volume of sales rose 33% to 1,140,479 million carats.

Petra’s production increased 31% to 1,635,716 million carats and it intends to produce 3 million carats for the whole of fiscal 2014. Petra's diamond inventory was worth $49.4 million on December 31, compared with $45.4 million one year ago.

Lucara's Profit Tops $65M

Lucara Diamond Corp. reported fiscal year revenue of $180.5 million in 2013, up from only $41.8 million in 2012. Rough sales achieved an average price of $411 per carat, while operating expenses totaled only $100 per carat. With such a tremendous improvement in margins, naturally, the mining company reported a profit, which came in at $65.2 million compared with a loss of $7.5 million one year earlier. Lucara had a year-end cash balance of $49.4 million and management expects to use the existing resources to finance Karowe's plant upgrade capital expenditure during 2014. Lucara remains debt free and has a $25 million Scotiabank credit facility available.

Trans Hex Tender Achieves $10M

Trans Hex reported that its February tender of rough production from its South African operations achieved $9.9 million, or an average price of $1,379 per carat from the sale of 7,124 carats. Five diamonds achieved over $10,000 per carat and included a pink diamond recovered at the Baken mine, which sold for $65,000 per carat. At the end of January, production at Trans Hex's South African operations amounted to 41,774 carats and included 21,849 carats recovered during the first six months of the financial year.

Diamcor Recovers Large Stone

Diamcor Mining Inc. recovered a gem-quality 43.90-carat diamond from its Krone-Endora at Venetia project in South Africa. The recovery of this high-quality rough diamond occurred during commissioning and testing exercises. The stone has been sent for evaluation and preparation for sale at an upcoming tender. For the first nine months of the company's fiscal year that ended on December 31, it sold 15,411.74 carats of rough diamonds for proceeds of $3.2 million, or $208.52 per carat. The total included a gem-quality, 91.72-carat octahedron diamond that sold for $8,917.58 per carat.

KD Acquires Smoke Creek

Kimberley Diamonds (KD) Limited acquired the Argyle Smoke Creek alluvial diamond project, which includes 22 prospecting licenses and is located in the Kimberley region of Western Australia. The company purchased the project from Venus Metals Corporation Limited for $250,000 in cash and it will issue 625,000 ordinary shares at $1.20 per share to Venus Metals for a 100% interest. The Smoke Creek diamond project also has one mining lease application covering 11 kilometers of unmined diamondiferous gravels located within the downstream portion of Smoke Creek, a tributary leading from Rio Tinto’s Argyle diamond mine.

Merlin Raises $2M

Merlin Diamonds raised $1.76 million (AUD 1.95 million) through the placement of 26 million ordinary shares at a price of 7.5 cents each with Singapore based Blumont group. Proceeds from the placement will be used to further develop the company's Merlin diamond mine in Australia's Northern Territory. On completion of the settlement, which is scheduled to be finalized by the end of March 2014, Blumont will hold a 10.9% stake in Merlin.

ALROSA Recommends Andreyev

ALROSA's supervisory board recommended renewing Fyodor Andreyev's contract as company president for a second five-year term. The board acknowledged Andreyev's leadership since he first took over the role. Board chair, Ilya Yuzhanov, will notify federal state property fund Rosimuschestvo to reappoint Andreyev as ALROSA's president through July 14, 2019.

Firestone to Delist From Botswana

Firestone Diamonds will cease trading on the Botswana Stock Exchange on February 28, a move that was cited to be in line with the company's strategy to focus on developing its Liqhobong diamond mine in Lesotho. Firestone's shares trade on the London Stock Exchange's Alternative Investment Market (AIM). Firestone owns the BK11 mine in Botswana but the mine ceased production one year ago and was placed on care and maintenance so that the company could focus on its Lesotho asset. The board is considering various strategic alternatives for its Botswana operation, including disposal or a joint venture, but it recognizes that extracting fair value from the asset in the current investor climate could be challenging.



$Mil. Jan. YOY %Chng.
Polished exports $1,650 -2%
Polished imports $512 -15%
Net exports $1,138 4%

Rough import $1,257 27%
Rough exports $124 -28%
Net imports $1,133 39%

Net diamond account $5 -98%

Synthetic exports $9 148%
Synthetic imports $18 42%


Diamond Industry Stock Report

U.S. shares mainly lower led by Charles & Colvard (-8%); however, hedge funds and private investors snapped up shares of of Signet (+19%) and Zale (+43%) following the merger announcement. Hong Kong and Europe mixed with Chow Sang Sang (-5%) leading declines and Damiani (+5%) out ahead. Indian shares lower except for C. Mahendra (+14%), Titan (+2%) and Classic (+1%). Mining shares mainly higher led by Shore and Petra (+11%). View the extended stock report.
Feb. 20 Feb. 13 Chng.
$1 = Euro 0.728 0.730 -0.002
$1 = Rupee 62.11 62.43 -0.3
$1 = Israel Shekel 3.51 3.51 0.00
$1 = Rand 11.01 10.97 0.04
$1 = Canadian Dollar 1.11 1.09 0.02

Precious Metals
Gold $1,322.90 $1,301.90 $21.00
Platinum $1,410.00 $1,412.00 -$2.00

Stock Indexes Chng.
BSE 20,536.64 20,193.35 343.29 1.7%
Dow Jones 16,133.23 16,027.59 105.64 0.7%
FTSE 6,812.99 6,659.42 153.57 2.3%
Hang Seng 22,394.08 22,165.53 228.55 1.0%
S&P 500 1,839.78 1,829.82 9.96 0.5%
Yahoo! Jewelry 1,014.78 960.73 54.05 5.6%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Feb. 28, 2014

Polished markets optimistic with high expectations for important Hong Kong show. Suppliers hope polished prices will catch up to rough prices, enabling a return of profits to the diamond manufacturing sector as De Beers acts responsibly by keeping rough prices stable. De Beers Feb. sight estimated at $650M. Liquidity improves as inventory levels decline but GIA backlog causing shortages. Zale’s 2Q revenue -2% to $656M, profit +23% to $51M. Sarine 4Q revenue +18% to $17M, profit +25% to $5M. Belgium’s Jan. polished exports +10% to $976M, rough imports +21% to $1.4B. Israel to lower polished import duty from 0.135% to 0.1%. Rapaport to offer 60,000cts. of polished at HK show.

RapNet Data: Feb. 27

Diamonds 1,036,519
Value $6,933,096,631
Carats 1,143,221
Average Discount -26.69%
Get Current Price List | Subscribe to Rapaport | Join RapNet

Rapaport Melee Auction

New York & Hong Kong

View details.


Rapaport at HK Intl. Diamond, Gem & Pearl Show

Exhibiting at the Hong Kong March show? Upload your show diamonds here for display on RapNet's show listing page.

Visit Rapaport in Hall 2, Booth F09


Rapaport Single Stone Auction

New York & Israel

The Diamond Show

Markthalle Building, Basel, Switzerland

Visit - Exhibit - Learn More:

Zimbabwe is a clear case of a tragic failure in leadership. There's massive potential for revenue from the diamond fields to do a lot of good. But a lack of transparency has compounded the massive corruption scandal that has already rocked the mining industry and speaks a lot of the wider corruption problem...Embracing the World Bank's principles on best practices for the extractive sector will allow the mining companies and the government to do a number of things, like disclose revenue and also allow Zimbabweans to know how much the government is generating from the sector.

Jeffrey Smith | RFK Center for Justice & Human Rights


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.


Swiss Watch Exports +6%

Swiss Watch exports rose 5.6% year on year to $1.76 billion (CHF 1.56 billion) in January, according to the Federation of the Swiss ‎Watch Industry.‎ The rise in exports was due to an increase in exports of steel watches and watches from other metals coupled with strong demand from the United Arab Emirates, U.S. and Japan. Wristwatch exports rose 4.6% to $1.656 billion, while the number of units shipped increased by 2.5% to 2.181 million. The value of other products grew by 13% to $47.7 m
Israel to Lower Import Duty

Israel will lower the import duty on polished diamonds from 0.135% to 0.1% following approval from The Knesset's Finance Committee. The decrease in duty was negotiated with members of the local diamond industry, the Israel Diamond Institute (IDI) and diamond controller Shmuel Mordechai.

Zale's Turnaround Takes Shape

Zale Corporation's revenue slid 2.1% year on year to $656.4 million for the second fiscal quarter that included Christmas and ended on January 31. Same-store sales were basically flat in terms of dollar denomination, but improved 1.9% at constant-exchange-rates. Zale reduced its cost of sales 6.7% to $308.8 million and gross margin improved to 53% from 50.6% one year ago. Profit jumped 23.3% to $50.8 million.

On February 19, Signet Jewelers Limited and Zale entered into a definitive agreement for Signet to acquire all of the issued and outstanding stock of Zale for $21 per share in cash consideration. The transaction is subject to Zale stockholder and regulatory approvals and it is anticipated the deal will close by the end of the year. Sterne Agee analyst Ike Boruchow believes that Zale's turnaround is clearly underway and continues to see an opportunity for margins to move much higher over the next few years.

Zale's gross margin expanded 240 basis points in the second quarter driven by improved sourcing, more moderate promotional activity and commodity cost benefits. Unlike most jewelers, Zale noted a very strong Valentine's Day weekend, and constant-currency comps are expected to be 3.5% or better in February. Zale's operating performance is still significantly below Signet's but Boruchow believes the larger jeweler can accelerate the pace of Zale's turnaround due to its expertise in marketing, sourcing, branded merchandise and consumer credit. As a result, Sterne Agee estimates mid- to high-single-digit comps for Zale this year with operating margins eventually reaching 10% or higher.

Sterne Agee anticipates that Signet's earnings per share will approach $6.35, independent of the merger, and expects Zale to contribute about $3 per share by 2017. After accounting for $1.60 to $1.70 in synergies from the merger, Sterne Agee projects pro-forma earnings per share of $10 to $11 for the combined company in 2017. Boruchow's price target on Signet is $120
Sears Ahead of the Troubled Retail Curve

Sears Holdings reported that sales declined 13.6% year on year to $10.6 billion for the fourth quarter that ended on February 1 and included the Christmas period. Gross margin dropped to 23.4% from 25.8%. The retail giant reported a loss, attributable to shareholders, of $358 million or $3.37 per share, which was an improvement from the loss of $489 million or $4.61 per share one year ago. Fiscal year revenue slid 9.2% to $36.2 billion, gross margin fell to 25.9% from 26.7% and the retailer's net loss attributable to shareholders rose to $1.37 billion or $12.87 per share from $8.78 per share in 2013.

In a note to shareholders, Sears chairman and CEO, Edward S. Lampert, stated that the financial year marked a transformation from a traditional, store-based retailer to a membership company that serves shoppers across an integrated platform. Lampert said that Sears Holdings should begin to demonstrate financial advantages of this transformation in 2014 and that he believes the entire U.S. retail industry is catching up to where Sears is at now. As for his critics, who called for Sears to invest millions of dollars on, essentially, store facelifts, Lampert reiterated the company's mission is succeeding to transform itself into an integrated platform that builds long-term relationships with its members.

To that end, Sears ''Shop Your Way'' program is helping its members live better and sales accounted for 72% of full-line Sears stores in the fourth quarter, up from 58% one year ago. Sears may spin off Lands' End and it is evaluating alternatives for Sears Auto Centers, among other efforts, which Lampert said would raise in excess of $1 billion this year to further fund its ongoing transformation. Sears generated $2 billion of liquidity in 2013 from real estate sales and by reducing inventory and fixed expenses

Macy's FY Profit +11%

Macy's Inc. revenue fell 1.6% year on year to $9.2 billion in the fourth quarter that ended on February 1 and included the Christmas season. However, Macy's maintained a gross margin of 40.6% and lowered its administrative expenses slightly, helping to improve profit to $811 million from $730 million one year earlier. For the fiscal year, Macy's reported that revenue barely improved, rising 0.9% year on year to $27.9 billion; however, profit jumped 11% to $1.5 billion. Comparable-store sales for the fourth quarter increase 1.4%, while they rose 1.9% for the fiscal year. The company maintained that its long term investment in creating the best-in-class omnichannel strategy has proven successful in serving and attracting customers.

JCPenney's FY Loss Jumps to $1.4B

J.C. Penney Company Inc. reported that revenue fell 2.6% year on year to $3.78 billion for the fourth quarter that included the Christmas season and ended on February 1. However, JCPenney's cost of goods sold fell 8.5% to $2.7 billion and total operating expenses were reduced 27.4% to $1.2 billion. The retailer reported a profit of $35 million compared with a loss of $552 million one year earlier. For the company's fiscal year, revenue fell 8.7% to $11.9 billion, cost of goods sold dropped 6.2% to $8.4 billion and operating expenses declined 8.6% to $4.9 billion. JCPenney's loss for the year climbed to $1.4 billion from a loss of $985 million in 2013.

Investors were pleased with results as shares rose following results; however, JCPenney's shares are down 73% from one year ago. Myron Ullman, III, the CEO of JCPenney, said, the most challenging and expensive portion of its turnaround program is now behind and the focus will be on improving gross margin, managing expense and steadily growing sales in 2014.
Loeb Sets Up Battle With Sotheby's

Activist investor Daniel S. Loeb, the chairman of Third Point LLC, is seeking three seats on Sotheby's board of directors, a move that Sotheby's stated was disappointing following extensive, behind the scenes negotiations. Third Point is Sotheby's largest shareholder with a 9.53% stake. Third Point added that it was convinced the current board of Sotheby's will benefit greatly from new perspectives and different expertise to move the company forward.

With that, Third Point nominated its founder, Loeb, Harry J. Wilson, who is the CEO of corporate turnaround firm MAEVA Group LLC and Olivier Reza, a the lead designer and head of the House of Alexandre Reza. Sotheby's faces a challenged operational structure, cultural malaise and lack of experience in corporate restructuring, Third Point contended and it will file a proxy statement with the Securities and Exchange Commission (SEC) to solicit stockholders.

Sotheby's reported that its fiscal year revenue rose 11.1% year on year to $853.7 million for the period that ended on December 31. Profit surged 20% to $130 million or $1.90 per sha

Tiffany & Co. Selects O&M

Tiffany & Co. selected global advertising firm Ogilvy & Mather Worldwide as its marketing communications partner to complement internal marketing capabilities. The selection process involved screening a number of professional firms during a four-month period. Ogilvy & Mather plans to provide brand positioning and advertising support for Tiffany & Co. globally with creative and strategic hubs in New York and Paris. The scope of the assignment will cover print, digital, video and out-of-home.

U.S., India Issue Trademarks

The U.S. Patent & Trademark Office (USPTO) approved the trademark term ''She's Got Dreams, Be Ready!'' on February 18 to Ashi Diamonds LLC of New York with the registration number 4486116. Ashi Diamond applied for trademark on October 24, 2012, first used the term in May 2013 and it applies to alloys of precious metals and jewelry.

The USPTO also approved the trademark ''Basch Jewelers'' on February 18 with the registration number 4486553 for Don Basch Jewelers Inc. of Macedonia, Ohio. The term refers to jewelry goods and services and it was originally filed for trademark protection on February 26, 2013.

India's Office of The Trade Marks Registry approved the trademark ''GIA Knowledge, Integrity, Excellence'' on February 17 for the Gemological Institute of America (GIA) of Carlsbad, California, with the registration number 2426423. GIA filed for the trademark on November 9, 2012 under the Class 41 Trademark classificat
F.D. Worldwide Achieves Certification

F.D. Worldwide Merchandise Group Inc. of New York achieved Responsible Jewellery Council (RJC) certification by meeting the highest ethical, social and environmental standards established by the organization. F.D. Worldwide Merchandise Group is also the first RJC member to use their audit to verify ''Provenance Claims,'' in this case to provide assurance to their customers on the source of their gold.

The RJC’s updated code of practices includes a new provision that enables members to have Provenance Claims audited as part of their RJC certification. A Provenance Claims Bolt-on module has been developed for members who wish to implement the Provenance Claims provision in conjunction with certification. F.D. Worldwide Merchandise Group’s audited claim states that they will only accept gold traceable to refiners on the current London Bullion Market Association good delivery list and is in compliance with the Signet Responsible Sourcing Protocol for gol
U.S. Consumer Confidence Improves

U.S. consumer confidence in February rose to 78.1 points (1985=100) compared with 69.6 points one year ago, according to The Conference Board Consumer Confidence Index&reg;. The Present Situation Index jumped to 81.7 points from 63.3 points and The Expectations Index improved slightly to 75.7 points from 73.8 points. While the indexes posted healthy gains year-on-year, The Conference Board observed that February's readings were softer compared with January as the short-term outlook for business, jobs and earnings deteriora
Nordstrom, Kohl's Top Satisfaction Rates

U.S. consumer satisfaction with customer service from the retail sector overall in 2013 improved 1.7% year on year to 77.9 points, according to the American Customer Satisfaction Index (ACSI). However, the department store segment remained unchanged at 77 points and the Internet retailer score fell 4.9% to 78 points. With more shoppers choosing to purchase online, customer service may have hit a rough patch for web retailers during the Christmas season, the group concluded.

While the ACSI benchmark for department stores was unchanged, Nordstrom, which recorded the best customer satisfaction score of all, fell 1% to 83 points, while Kohl's was unchanged at 81 points. Dillard's score increased 3% to 81 points, but JCPenney's score fell 2% to 79 points. Target's score dropped 5% to 77 points, in part due to the highly publicized security breach; Sears score increased 3% to 77 points, but Macy's declined 3% to 76 points and Walmart was unchanged at 71 points, the lowest satisfaction rating in the category.

Specialty retailers, which included wholesale clubs and office supply stores, experienced a 2.6% overall improvement in the satisfaction rating to a score of 80 points. The two retailers on the list that sell diamond jewelry included Costco, which rated highest overall at 84 points -- up 1% year on year -- and Sam's Club, which was unchanged at 80 points. Specialty retailers earned strong ratings for staff courtesy and for store layout, cleanliness and the ability to provide name-brand merchandise, compared with department stores, according to ACSI. Customer satisfaction with Internet retailers fell to its lowest rating since 2001 and suffered in part due to unsatisfactory service on smaller retailer websites, according to the survey. Pure-play Internet retailer scored best, up 4% to 88, but eBay fell 4% to 80 points and ''all others'' plunged 9% to 75 points

Rio Tinto Appoints Dallow

Rio Tinto Diamonds appointed Brandee J. Dallow to manage its U.S. representative office in New York. Dallow will take up her new post on March 1. Dallow's career spans marketing and brand management from over 15 years in the diamond industry. She previously held the position of vice president of global communications at the Julius Klein Gr


ALROSA, Endiama Sign Agreement

ALROSA and Angola's national diamond company, Endiama, established an exploration joint venture in Angola on February 26. The companies initially agreed to cooperate on joint projects in June. The agreement sets out a timeline to acquire the Cassango area for exploration work, which requires an investment of about $16 million. Production will be equally divided.
Gemfields Tender Tops $36M

Gemfields sold 840,000 carats of high-quality emeralds and beryl from its Kagem mine in Zambia for $36.5 million, or an average of $59.31 per carat. The auction set a company record for the highest aggregate revenue and the highest average per carat price achieved to date. The auction, which was held in Lusaka, was 88% sold by lot and 86% sold by value, with 34 companies participating. Gemfields reported that market conditions for higher quality stones remain robust, yielding solid increases in per carat prices.
Lucara Approves Dividend Policy

Lucara Diamond Corporation plans to hold its first exceptional rough diamond tender, including 20 individual diamonds for a combined weight of 1,191.71 carats, on April 10. Diamond viewing will take place in Gaborone from March 25 to 28 and in Antwerp from April 2 to 10. The largest stone is a 167.08-carat diamond (lot 401) and the smallest is 16.32-carats (lot 415), according to the sale brochure.

Additionally, Lucara's board approved a dividend policy providing for the payment of semi-annual dividends. The policy also covers a special dividend based on revenue generated from these exceptional stone tenders, subject to the company's overall financial position. Lucara intends to declare its first semi-annual dividend of 2 cents per share in May for payment in June. This proposed dividend payment and the payment of any cash dividend under the policy is subject to the board's determination.

CH-6 Valuation Returns $213 Per Ct.

Peregrine Diamonds Ltd. released diamond valuation results for a 1,013.5 carat parcel of commercial-size diamonds that were recovered from its CH-6 kimberlite pipe at the Chidliak diamond project on Baffin Island in Canada. The average price was $213 per carat with the modeled price range from a minimum of $162 per carat to a high of $236 per carat with a base case modeled price of $188 per carat.

Within the parcel there were four larger stones; an 8.87-carat diamond was valued at $4,076 per carat, a 5.83-carat diamond was valued at $3,455 per carat, a 4.62-carat diamond was valued at $2,900 per carat and a 4.11-carat diamond had a market value of $2,633 per carat, according to WWW International Diamond Consultants.

Lucapa to Tender Parcel From Lulo

The Lucapa Diamond Company plans to sell a second parcel of rough diamonds that were recovered from its Lulo diamond concession in Angola. This sale will offer 371.35 carats of diamonds, which were valued by Jaguar Consultants Ltd. at $3.2 million. The parcel also includes a 95.45-carat and a 32.20-carat, type IIa diamond that were recovered from Lulo in January as well as a 4.40-carat rough pink diamond that the company valued at $10,250 per carat. Once the date is determined for the sale, the tender will be conducted by Angola's diamond sales division, SODIAM
Stellar Raises $525K

Stellar Diamonds raised $525,016 (GBP 314,914) after two shareholders, Foradex Invest SRL and Hottinger, exercised 28,628,545 warrants at a price of 1.1 pence each. The funds will be used to further progress being made at the company's Tongo dyke-1 diamond exploration project in Sierra Leone, which is currently undergoing a definitive feasibility stu
Brazil Minerals Sells Polished Parcel

Brazil Minerals Inc. sold the first round of cut and polished diamonds from its Duas Barras processing plant in Brazil to an unnamed jewelry chain, according to a regulatory filing. The mining firm added that the retail chain purchased the diamonds without requiring Gemological Institute of America (GIA) certificates. The amount of the sale was not provided. Brazil Minerals mines diamonds and recently took up cutting and polishing some of its inventory for sale. The mining firm also produces gold, titanium, vanadium and iron ore.

KDL to Reopen Ellendale E4

Kimberley Diamonds Limited plans to recommence diamond mining at its Ellendale E4 mine this year and anticipates producing 200,000 carats of diamonds from the parcel in 2015. The company currently produces 120,000 carats from E9. Ellendale's E4 operation was placed on care and maintenance in February 2009 by Gem Diamonds Limited, which operated the mine until Kimberley Diamonds acquired the property.

JORC-compliant E4 indicated resource was measured at 6.1 million tonnes of ore and 6.66 carats per hundred tonnes (cpht), while inferred resources registered 50 million tonnes of ore at 3.92 cpht for a total of 2.37 million carats.

Kimberley Diamonds completed the acquisition of Mantle Diamonds Limited, which included the Lerala diamond mine in Botswana. Lerala's operations will target a production rate of approximately 400,000 carats per year once the asset is brought out of care and maintenance. The Lerala project provides the junior explorer with a foothold in Botswana. Kimberley Diamonds estimated that Lerala contains probable reserves of 8.38 million tonnes of ore with an average grade of 29.68 cpht.

Paragon Lease Approved

Meso Diamonds, a subsidiary of Paragon Diamonds Limited, finalized the terms and conditions of its 10-year mining lease agreement with the government of Lesotho for the Lemphane kimberlite pipe concession. The agreement allows the company to initiate preparations for, and commence, stage 1 production at Lemphane, targeting 500,000 tonnes of ore per year with estimated recovery of 10,000 carats per year at a minimum average value of $750 per carat. The company now expects to conclude advanced stage negotiations on financing stage 1.

Sierra Leone Values Stone at $6M

Sierra Leone announced the recovery of a 153.44-carat rough diamond this past week and valued it at $6.2 million. The diamond originated in the eastern district of Kono and is significantly larger than a 125-carat diamond that was produced in the area in 2013. It was graded as D+ and cleavage in shape.


Jan. $Mil. %Chng.
Polished exports $976 10%
Polished imports $1,291 14%
Net exports ($315)

Rough imports $1,349 21%
Rough exports $1,245 18%
Net imports $104 82%

Net diamond account ($419) 39%

Diamond Industry Stock Report

Investors drove U.S. retail shares higher, except for Birks (-4%), as quarterly results showed expense and inventory restraint during a difficult 4Q. European and Indian shares mixed although Damiani (+10%) and Suashish (+11%) pulled far ahead. Mining shares mainly lower except for Lucara (+6%), ALROSA (+3%) and Gemfields (+2%). View the extended stock report.
Feb. 27 Feb. 20 Chng.
$1 = Euro 0.729 0.728 0.001
$1 = Rupee 62.03 62.11 -0.1
$1 = Israel Shekel 3.50 3.51 -0.01
$1 = Rand 10.69 11.01 -0.32
$1 = Canadian Dollar 1.11 1.11 0.00

Precious Metals
Gold $1,331.70 $1,322.90 $8.80
Platinum $1,447.00 $1,410.00 $37.00

Stock Indexes Chng.
BSE 20,986.99 20,536.64 450.35 2.2%
Dow Jones 16,272.65 16,133.23 139.42 0.9%
FTSE 6,810.27 6,812.99 -2.72 0.0%
Hang Seng 22,828.18 22,394.08 434.10 1.9%
S&P 500 1,854.29 1,839.78 14.51 0.8%
Yahoo! Jewelry 1,022.18 1,014.78 7.40 0.7%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Mar. 7, 2014

Hong Kong show meets expectations with steady Chinese and Far East demand for VS-SI diamonds and larger stones. Suppliers complain they cannot replace polished at current rough prices, with many buying polished instead of rough. Polished prices firm with Feb. RapNet Diamond Index (RAPI) for 1ct. +0.3%. Liquidity improves but bank credit tightening and cutters concerned steady HK show will signal further unsustainable rough price hikes. Gem Diamonds sells 162.06ct. diamond for $11M ($69K/ct.). Marange Antwerp auction sells 959,931cts. for $70M ($73/ct.). Sotheby’s 4Q revenue +17% to $339M, profit +37% to $91M; buyer defaults on $83M oval, 59.60ct., IF, fancy vivid pink diamond.

RapNet Data: Mar. 6

Diamonds 1,051,754
Value $6,962,795,257
Carats 1,140,511
Average Discount -26.34%

Get Current Price List | Subscribe to Rapaport | Join RapNet

Rapaport Single Stone Auction

New York & Israel

Rapaport Melee Auction

New York

View details.

The Diamond Show

Markthalle Building, Basel, Switzerland

The Hong Kong show last September had half the number of buyers. This time, there were lots of buyers, new people and new connections.

Leah Kraitenberg | Olympic Diamond


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs now.

Polished Prices Move Higher

Diamond market sentiment improved in February as polished diamond prices rose, while rough diamond prices remained stable. Polished trading was driven by U.S. and Chinese demand as jewelers began to replenish inventory sold during the Christmas and Chinese New Year shopping seasons.

In February, the RapNet Diamond Index (RAPI™) for 1-carat certified polished diamonds increased 0.3%, while RAPI for 0.30-carat jumped 2.9%, RAPI for 0.50-carat rose 2.2% and RAPI for 3-carat improved 0.6%. There is strong demand for 0.30-carat to 0.50-carat, GIA dossiers with large inventory building up at the Gemological Institute of America (GIA) due to delays.

HK Trade Show Improves

Trading during the Hong Kong International Diamond, Gem & Pearl Show at AsiaWorld-Expo met expectations and many noted that buyers came prepared to buy specific goods. Dealers indicated that the shortage of goods helped to boost demand as well. Popular goods included 0.10-carat to 0.50-carat and 1-carat to 3-carat rounds, fancy yellow diamonds in cushion- and emerald-cut, certified rubies, untreated sapphires and fine-quality colored gemstones.

De Beers Sight at $650M

De Beers kept its prices basically stable as the February sight closed with an estimated value of $650 million. Sightholders expressed relief and observed a more positive mood across the pipeline. Rough trading on the secondary market was strong before the sight, which prompted expectations for a price increase.

De Beers contended that it is taking a cautious approach to raising prices as rough premiums had run ahead of the polished market. De Beers boxes were trading at low single-digit premiums on average with the strongest boxes yielded premiums of up to 10%. There is good demand for rough that yields polished below 1-carat and SI and lower clarity diamonds.

HK Jewelry Sales +15%

Hong Kong's retail sales rose 14.5% year on year to $7 billion (HKD 54.599 billion) in January, according to the Census & Statistics Department. The volume of sales also rose 14.5%. The government noted that retail sales tend to exhibit volatile movement in January and February due to the timing of the Lunar New Year festival. The value of jewelry, watches, clocks and other luxury goods surged 10.8% year on year to $1.5 billion in January. The volume of sales rose 18.5%. The value of jewelry, watches and other luxury items that sold just in department stores jumped 38.3% to $41 million.

U.S. Jewelry Sales +1%

U.S. jewelry and watch sales were off to a weak start this year as preliminary sales for the sector increased only 1.2% year on year to about $4.7 billion. Jewelry sales increased 1.2% to $4.163 billion, while watch sales improved 1.3% to $557 million. One year ago, jewelry sales jumped 9%.

Furthermore, government figures were revised lower for jewelry and watch sales in both December and November 2013. The rate of sales growth for jewelry and watches in December was cut to 2.5% from a preliminary increase of 6% and sector revenue of $15.696 billion. The rate of growth for November was revised to 6.9% from 9.8% with sales of $7.255 billion. The impact on jewelry and watch sales growth for 2013 was slightly weaker, although still strong, as U.S. jewelry sales increased 6.7% year on year to $70.651 billion, while watch sales improved 7.6% to $9.464 billion.

U.S. Chain-Store Sales +3%

U.S. chain-store sales rose 2.7% year on year for the month of February, according to the International Council of Shopping Centers (ICSC). The group initially anticipated that same-store sales would grow by between 3% and 3.5%, but ICSC narrowed their projections to 3% on Tuesday. ICSC research forecasts that comparable-store sales will increase by about 3% in March.

EFG-Hermes Sells Damas Stake

EFG-Hermes sold its 19% stake in Damas to Qatari Mannai Corporation for $150 million, nearly doubling its initial investment. Qatari Mannai now holds 100% stake in Damas, which operates more than 300 outlets in The United Arab Emirates, Bahrain, Qatar, Kuwait, Oman and Saudi Arabia. Since going private, Damas has doubled its annual profit and increased operating earnings nearly 10 times, according to its parting investor.

Berkshire's Retail Sales +15%

Berkshire Hathaway reported that revenue from its retail division grew 15% year on year to $4.29 billion in 2013. Pre-tax earnings for the division, which includes Ben Bridge Jeweler, Borsheims Fine Jewelry, Helzberg Diamonds, Richline Group and non-jewelry brands, climbed 23%, which amounted to an increase of $70 million. The company did not disclose the actual total.

Berkshire explained that revenue and operating profit at its jewelry business rose during the year, however, real growth at its retail division was driven by its acquisition of party and school supplies retailer Oriental Trading Company at the end of 2012. The retail division is also comprised of four home furnishing companies and See’s Candies.

Forevermark Expands Reach

Forevermark stated that sales growth was driven predominantly by continued consumer demand in core markets such as China, U.S., India and Japan. The brand has a presence in over 1,300 retail outlets across 12 major markets, representing tremendous expansion since launching in 2008. Forevermark’s licensee program also saw launches in Australia, Brunei and Kuwait, and producer country Namibia in 2013. Since 2009, grading and inscription numbers have increased by 666% and 426% respectively. More than 870,000 diamonds have now been inscribed with a Forevermark unique inscription number and icon.

Razny Opens Breitling Shop-in-Shop

Chicago-area Razny Jewelers expanded its offerings of Swiss watch manufacturer Breitling's collection with a shop-in-a-shop concept. The jeweler will showcase a complete assortment of more than 125 Breitling timepieces, including exclusive products such as the Breitling for Bentley series. The Breitling shop evoked positive feedback from customers, according to the store.

Chow Tai Fook to Offer Aaron Shum Jewels

Chow Tai Fook Jewellery Group entered into an exclusive distribution agreement with Aaron Shum Jewelry, a Hong Kong-based jewelry designer. Under the agreement, Chow Tai Fook will launch a new diamond collection in Mainland China, Hong Kong, Taiwan and Macau using Aaron Shum’s patented Coronet design. Chow Tai Fook expects the Coronet Solitaire to spur growth for its product portfolio. The Coronet Solitaire design is comprised of seven diamonds set without prongs holding the center diamond.

Titan, Montblanc Enter Partnership

The Titan Company Ltd. entered into a joint-venture agreement with Montblanc Services B.V., Netherlands, on February 26 for the purpose of establishing Montblanc as a single brand retailer in India. According to the attorneys who completed the deal, Montblanc could operate in India on its own, however, the agreement with Titan helps it to avoid a mandatory 30 percent sourcing requirement. The Economic Laws Practice (ELP) advised Titan and AZB & Partners assisted Montblanc in the deal.

U.S., India Approve Trademarks

The U.S. Patent & Trademark Office (USPTO) approved the trademark ''America's Leading Online Jewelry Store'' for Gold & Diamond Source Inc. of Clearwater, Florida, with the registration number 4489716 on February 25. In addition, the USPTO issued the patent number 8,659,389 on February 25 to The Jewellery Store of Dubai for a secure inventory control system that tracks high-value goods.

India's Office of The Trade Marks Registry reapproved the trademark ''Le Vian'' for diamond brand Le Vian Corporation of New York on February 27, with the serial number 2324512 under Class 14 trademark classification.

IDE Pilots New Security System

The Israel Diamond Exchange (IDE) is pilot testing an advanced security system to identify exchange members by their facial features, body language and behavior. The system has been installed at the Diamond Tower building's entrance to the rough diamond trading hall. The pilot project will be followed by an expanded trial during the U.S./International Diamond Week this April. For the expanded trial the system will be installed at all three entrances to the trading hall and will identify visitors and foreign buyers in addition to exchange members.

DDE Appoints Mhlanga

The Dubai Diamond Exchange (DDE) appointed Robert Mhlanga, the chairman of Mbada Diamonds, to its board. This new appointment follows two additional appointees in 2013 when the DDE added Francis Pedzana Gudyanga, Zimbabwe's permanent secretary of Mines and Mining Development, and Levy Rapoo, the CEO of the South African Diamond and Precious Metals Regulator (SADPMR) to its board.

Peter Meeus, the chairman of DDE's board, said, “The prominence of high profile industry executives on the DDE’s board of directors reflects our truly global status in the diamond trade.”

Forbes Names World's Richest

A number of diamond and jewelry industry players made Forbes' annual list of billionaires again in 2014. Overall the list grew to 1,645 names from 1,426 one year ago and its aggregate net worth surged to $6.4 trillion, up from only $5.4 trillion in 2013. The richest person in the world was Bill Gates with a net worth of $76 billion. The richest retail family was Walmart's Waltons, occupying numbers 9, 10, 13, 14, 305 and 367 on the list and representing a combined net worth of $150 billion.

Rank Change Name Company Net $Bil.
No. 4 0 Warren Buffett Berkshire $58.2
No. 15 -5 Bernard Arnault LVMH $33.5
No. 18 1 Jeff Bezos Amazon $32.0
No. 58 -5 Francois Pinault Kering $15.5
No. 173 2 Johann Rupert Richemont $7.6
No. 205 -30 Nicky Oppenheimer Private $6.7
No. 234 -59 Patrizio Bertelli Prada $6.0
No. 305 -6 Laurence Graff Graff $4.8
No. 367 -51 Beny Steinmetz Steinmetz $4.1
No. 551 -184 Edward Lampert Sears $3.0
No. 1,270 0 Mark Vadon Blue Nile $1.4
No. 1,284 -310 Lev Leviev Leviev $1.3
No. 1,372 -30 Nirav Modi Firestar $1.2
No. 1,565 -223 T.S. Kalyanaraman Kalyan $1.0


Gem Sells Two Large Stones

Gem Diamonds sold a 162.06-carat, type II diamond for $11.1 million, or $68,687 per carat, during its recent tender in February. The company also sold a 161.74-carat, type I diamond for $2.4 million, or $14,636 per carat. Both diamonds were recovered in January at the Letšeng mine in Lesotho. Gem Diamonds noted that the diamonds achieved top prices in line with their respective color, clarity and expected polished yield.

Gemfields' Profit -70%

Gemfields plc reported that its revenue soared 137% year on year to $65.7 million during the six months that ended on December 31. The company attributed the rise to strong demand at its three emerald and beryl auctions that were held over the period, coupled with revenue from its jewelry business Fabergé, the direct sale of low-quality beryl and the sale of cut and polished gemstones.

However, profit fell 70% to $1.4 million. The company had $14.8 million cash in hand, while its inventory at the end of the period was valued at $69.3 million. During the period, emerald production at the company's Kagem mine in Zambia fell 28% to 10.4 million carats as a result of higher production costs.

Firestone's Loss at $8M

Firestone Diamonds reported that revenue fell 49% year on year to $4.3 million (GBP 2.6 million) during the six months that ended on December 31. The company reported a loss of $8.2 million, in line with the loss of one year ago. Firestone's costs dropped 19% to $12 million. The company sold 58,086 carats from its Liqhobong mine, 27% less compared with one year ago. The average price fell 32% to $69 per carat.

Greenland Approves Mining License

True North Gems Inc. was awarded an exclusive 30-year mining license for the Aappaluttoq ruby deposit in southwestern Greenland. The Aappaluttoq ruby deposit will be an open-pit development with an initial life expectancy of nine years. True North expects the mine to produce 80 new jobs in Greenland with roles from its mining operations on through to gemstone grading in the Nuuk Processing Facility. The project will also act as a stimulus for other investment in both secondary and supporting industries, the company surmised.

Marange Diamond Sale Achieves $70M

Zimbabwe generated $70 million from the sale of 959,931 carats of rough diamonds at an Antwerp auction. The first auction, in December, generated $10.5 million from the sale of 279,723 carats. Zimbabwe's minister of mines contended that stronger prices were realized in part because the goods were cleaned and better organized.

Six mining companies contributed to the goods offered, including Marange Resources, Mbada Diamonds and the Zimbabwe Mining Development Corporation, which means companies in the U.S. may not deal with these stones due to OFAC sanctions.


Diamond Industry Stock Report

U.S. shares were little changed, except for JCP (+16%) and funds place bets the retailer will offer stronger returns. Europe and India mainly lower led by LVMH (-3%) and Suashish (-5%). Mining shares mixed as True North, Rockwell and Peregrine post double-digit increases against broader declines for their competitors. View the extended stock report.
Mar. 6 Feb. 27 Chng.
$1 = Euro 0.720 0.729 -0.009
$1 = Rupee 61.11 62.03 -0.9
$1 = Israel Shekel 3.45 3.50 -0.05
$1 = Rand 10.61 10.69 -0.08
$1 = Canadian Dollar 1.10 1.11 -0.01

Precious Metals
Gold $1,350.30 $1,331.70 $18.60
Platinum $1,477.00 $1,447.00 $30.00

Stock Indexes Chng.
BSE 21,513.87 20,986.99 526.88 2.5%
Dow Jones 16,421.89 16,272.65 149.24 0.9%
FTSE 6,788.49 6,810.27 -21.78 -0.3%
Hang Seng 22,702.97 22,828.18 -125.21 -0.5%
S&P 500 1,877.03 1,854.29 22.74 1.2%
Yahoo! Jewelry 1,027.13 1,022.18 4.95 0.5%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Mar. 14, 2014

Positive sentiment spreads to trading centers after Hong Kong show demonstrates strong Chinese demand for under the carat certs. Smaller size 0.25-0.50ct., H-L, VS-SI certs very strong as Far East shifts to lower colors, with non-certs selling due to GIA delays. Strong Israeli demand for large rough at International Rough Diamond Week. Antwerp chases Zimbabwean rough supply, strengthens ties with Russia. U.S. Jan. jewelry store sales +7% to $2.1B. U.S. Jan. polished imports +13% to $1.9B, polished exports -12% to $1.3B.

RapNet Data: Mar. 13

Diamonds 1,054,273
Value $6,955,451,593
Carats 1,149,179
Average Discount -26.39%

Get Current Price List | Subscribe to Rapaport | Join RapNet

The Diamond Show

Markthalle Building, Basel, Switzerland

Learn More:

Rapaport Polished Diamond Auction

Takes Place During U.S. &
International Diamond Week in Israel

View Detailed Information
I have strong reservations about (selling diamonds in) Antwerp because they are Zimbabwe's yesteryear enemies. We have actually reeled under sanctions, thanks to Brussels, and for us now because they have claimed to have lifted sanctions -- we run to them.

Robert Mhlanga | Mbada Diamonds


The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants and entry-level positions for our offices in New York, Antwerp, Mumbai, Dubai and Shanghai. View jobs


U.S. Jewelry Store Sales +7%

U.S. jewelry store sales rose 6.9% year on year to $2.113 billion in January, according to government data. The increase was further strengthened by a 1.7% decline in the consumer price index (CPI) for jewelry. Jewelry store sales also performed stronger than the jewelry and watch sector as a whole, given that preliminary data revealed January sales increased only 1.2% to $4.72 billion, as Rapaport News reported on March 3.

Meanwhile, advanced sales estimates for U.S. department stores fell 5.2% year on year to $11.787 billion in February. However, U.S. retail and food services sales increased 1.5% to $427.2 billion, retail trade sales improved 1.3% and nonstore retailers experienced sales growth of 6.3%.

Israel Week Boosts Rough Trade

Rough dealers observed strong interest in their goods during Israel's International Rough Diamond Week. Diamonds offered were primarily run-of-mine production; however, there were some notably large and exceptional single stones up for sale, as well as high-value fancy colored stones. Buyers appeared to be shopping for specific and immediate orders in their respective niche markets. ALROSA, De Beers and Rio Tinto each hosted sales during the week and their spokespeople agreed that Israel is an important target market for marketing rough goods right now.

Israeli French auction house Tzoffey's 1818 offered two very large rough stones, a 600-carat and a 1,000-carat, among its 300 lots available. The results of the large stone tender will be announced next week.


Zale Shareholder Chances Legal Advice

Within 24 hours of the proposed $1.4 billion merger between Zale Corporation and long time rival Signet Jewelers on February 19, at least dozen law firms informed the world that they were standing by to take legal action on behalf of Zale's shareholders, claiming that the Signet bid was -- just too low at $21 a share.

On March 7, Mary Smart, who stated that she is a Zale shareholder, filed two claims against the retailer for ''breaching its fiduciary duty'' and undervaluing the company at ''a meager'' 41% premium to the price of its shares on February 18. Additionally, the class action suit seeks to unravel how top executive personnel contracts unfairly excluded competing and, ideally, better offers.

Smart is represented by Rigrodsky & Long, a firm that called for an investigation into whether Zale’s board of directors failed to adequately shop for the best possible value, and Kahn Swick & Foti. The case is expected to be first reviewed in the Court of Chancery of the State of Delaware, where Zale is incorporated. Zale's headquarters are in the Dallas suburb of Irving, Texas.

CIRCA Acquires Portero

Pre-owned jewelry trading firm CIRCA acquired pre-owned luxury goods retailer Portero for an undisclosed sum. CIRCA stated that adding to its portfolio, as a strategic selling platform, very much complemented existing buying services and addressed ways to meet demand from its client base. The partnership pairs the knowledge of jewelry from CIRCA with Portero's buying and selling experience that guarantees authenticity and integrity.

CIRCA is based in New York and has 14 locations worldwide. Portero will relocate its offices to CIRCA's headquarters. Both brands will re-launch websites within the next couple of months with an enhanced, cross-functional shopping experience.

Investments of Passion Highlight Jewelry

Jewelry is the top ''investment of passion'' for the world's wealthy this year, according to Knight Frank Research's ''The Wealth Report 2014.'' Art ranks second followed by watches, wine, diamonds, classic cars, photography, furniture, musical instruments, coins, stamps and ceramics. However, there are regional nuances to the rankings.

Jewelry is the most collected investment of passion asset for the wealthy in Africa, Asia, Latin America, the Middle East and Russia, whereas jewelry ranks third in the Australasia region, behind art and classic cars and it ranks fourth in Europe behind wine, art and watches. In North America, jewelry as an investment of passion ranks third behind art and watches. Watches as an investment of passion fell into either second or third place for all regions except Australasia where it ranked sixth.

Diamonds as an investment of passion ranked fifth globally, placing third in Asia, taking fourth place for the wealthy investors in Africa, the Middle East and Russia, fifth place in Australasia and Latin America and sixth place for Europe and North America. Knight Frank Research found that 36% of wealthy investors globally expect to increase their spending on luxury goods this year, with the great increase anticipated from the wealthy in Africa. Fifty-seven percent of wealthy will spend the same as they had in 2013. Only 7% anticipate spending less on luxury with the greatest decline coming out of Latin America.

The Knight Frank Luxury Investment Index (KFLII), which measured performance of collectable luxury asset classes noted that jewelry improved 2% year on year in 2013. However, the investment performance for the past five years has increased 46% and for the past decade it has increased 156%, according to the index. Watches gained 4% in 2013, supporting a five year increase of 32% and a 10 year jump of 82%.

Kingold Jewelry Enters Kuwait

Kingold Jewelry Inc. signed a joint-venture agreement with Kuwait Support Services Company in Kuwait to form a group that would source and finance gold, and develop, market and distribute gold products, including coins, bullion, jewelry and other items. Kingold Jewelry anticipates the partnership will market products initially to customers in Kuwait and then expand offerings to customers in Bahrain, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

Kingold Jewelry is located in Wuhan City, China where it designs and manufactures 24-karat gold jewelry, ornaments and investment-oriented products.

Attract Young Affluents

The affluent consumer segment in the U.S. has remained fairly resilient in the past several years, but Unity Marketing warned luxury goods marketers of a bumpy road ahead, especially if they fail to play into the sensibilities of a ''generous spending'' pattern observed by wealthy, young shoppers. Furthermore, Unity Marketing found that luxury marketers must now confront a dilemma as the ''Luxury Market Trends for 2014'' report revealed higher prices at top luxury brands are pressuring affluent consumers to trade down to less expensive brands.

Pam Danziger, the president of Unity Marketing, found that affluents' overall demand for luxury goods, including jewelry and watches, rose at the end of 2013, but spending collapsed 31% from one year ago. This trend signaled that shoppers hit sales and discounters and bypassed prestigious brands.

Marketers need to build connections with the young affluents, ages 24 to 44, with incomes of $100,000 or more, and who are more willing than their seniors to trade up to luxury brands. Knowing that a prospective customer has enough money to pay is not enough. Focus on the customers that offer the best prospects for growth both now and into the future, and that is the younger generation of consumers on the road to affluence, according to Danziger.

"Demand for high-end luxury goods and services is greater across the board among young affluents than matures, 45 years and older. What's more, young affluents consistently spend about 50% more than mature affluents on luxury. Understanding this young consumer and what they value is critical to find growth in 2014 and in coming years," Danziger said.

Antwerp, Moscow Strengthen Ties

Industry executives from Antwerp met with representatives of the Gokhran, ALROSA and others in Moscow where leaders signed a memorandum of understanding, outlining ways to exchange market data, knowledge and technology and agreeing to collaborate on strengthening the reputation of natural diamonds.

The deal was set into motion by the Antwerp World Diamond Centre (AWDC), which has been working on ways to form strategic partnerships between its membership and Russia. ALROSA recently signed a new cooperation agreement with the AWDC that formalized rough and polished trade initiatives for the upcoming three years.
U.S. Expands Ivory Ban

The Jewelers Vigilance Committee (JVC) informed the trade of new comprehensive rules banning ivory to further protect African elephants. The U.S. bans all commercial imports of African elephant ivory, including antiques; prohibits all commercial exports, except for bona fide antiques, certain noncommercial items, and in exceptional circumstances permitted under the Endangered Species Act and bans all sales of ivory across state lines and within a state, unless the seller can demonstrate an item was lawfully imported prior to 1990 for African elephants and 1975 for Asian elephants.

The U.S. defines an antique as item that must be more than 100 years old and meet other requirements under the Endangered Species Act. The burden of proof is on the importer, exporter or seller to demonstrate that an item meets these critera. Individuals are limited to importing two African elephant sport-hunter trophies per year, whereas previously the number was unlimited. The current rules for Asian ivory remain in place.


Mining Execs. Rank Best Locations

The most attractive jurisdictions for mining and exploration investment include one diamond-producing region but several others did score in the top 50 in the annual survey of mining companies, which was conducted by The Fraser Institute.

Overall, mining firms rated 112 jurisdictions and concluded that the 10 least attractive regions were Kyrgyzstan, Venezuela, Philippines, Argentina—La Rioja, Angola, Argentina—Mendoza, Zimbabwe, Cote d'Ivoire, Indonesia and Madagascar. The Fraser Institute suggested that nations with vast mineral wealth would benefit from following best practices that are deployed by Sweden and Finland, for example, by enacting sound environmental protections and transparent taxation and legal processes.

While mining executives gave Sweden the top score, diamond-producer Westerns Australia ranked sixth place. According to the Fraser Institute, other diamond producers ranked as follows:
Region Rank Index = 100
Botswana 25 74.1
Ontario 28 73.1
Namibia 34 68.3
Nunavut 44 60.4
NWT 47 57.5
Zambia 57 48.0
Tanzania 62 43.0
India 63 40.0
South Africa 64 39.8
Brazil 65 39.1
Liberia 66 38.2
Myanmar 67 37.9
Mozambique 76 29.9
DR Congo 85 23.9
Russia 91 19.4
Sierra Leone 96 17.2
Cote d'Ivoire 105 14.9
Zimbabwe 106 14.6
Angola 108 10.7
Venezuela 111 6.5

KDL Auction Achieves $4M

Kimberley Diamonds Ltd. sold 18,903 carats of rough diamonds from its Ellendale project through an online trading system this week to achieve $3.92 million or $207 per carat.

The company stated that these gem-quality rough diamonds were outside of its off-take agreement with Tiffany & Co.'s cutting and polishing firm Laurelton.

Diamcor Placement Oversubscribed

Diamcor Mining Inc. closed its previously announced private placement of 2,142,858 units at a price of $1.40 per unit for gross proceeds of $3 million, with an oversubscription of 5,000 units for a final closing amount of $3.007 million. Each unit consists of one common share and one-half of one common share purchase warrant whereas each warrant entitles the holder to purchase one share at an exercise price of $1.80 until March 11, 2017.

In addition, Diamcor Mining issued an aggregate of 114,471 non-transferable warrants to its agents (Roth Capital Partners and Euro Pacific Canada), representing 6% of the number of units sold to subscribers.


Jan. $Mil. %Chng.
Polished imports $1,887 13%
Polished exports $1,335 -12%
Net imports $552 237%

Rough imports $53 36%
Rough exports $57 128%
Net imports $(4)

Net diamond account $548 209%


Diamond Industry Stock Report

Broad selloff across retail and mining resulted in share price declines this week except for Birks (+9%), Movado (+1%), Damiani (+2%), Lyspa Gems (+4%), Titan (+2%), Michael Hill (+3%) and Gemfields (+3%). View the extended stock report.
Mar. 13 Mar. 6 Chng.
$1 = Euro 0.720 0.720 0.000
$1 = Rupee 61.19 61.11 0.1
$1 = Israel Shekel 3.47 3.45 0.02
$1 = Rand 10.80 10.61 0.19
$1 = Canadian Dollar 1.11 1.10 0.01

Precious Metals
Gold $1,372.40 $1,350.30 $22.10
Platinum $1,473.00 $1,477.00 -$4.00

Stock Indexes Chng.
BSE 21,774.62 21,513.87 260.75 1.2%
Dow Jones 16,108.89 16,421.89 -313.00 -1.9%
FTSE 6,553.78 6,788.49 -234.71 -3.5%
Hang Seng 21,756.08 22,702.97 -946.89 -4.2%
S&P 500 1,846.34 1,877.03 -30.69 -1.6%
Yahoo! Jewelry 1,003.09 1,027.13 -24.04 -2.3%
Múdry sa teší objaveniu pravdy, hlupák falošnosti.

Nové téma Další příspěvek

Stránka: « < ... 7 8 9 10 11 12 13 14 15 ... > »

Sbě » Minerály » Týždenný prehľad zaujímavostí vo svete diamantov .

Diskusní fórum | | články | inzerce | katalog | mince | sběratelé | zápalky |

Sbě je poháněno systémem UseBB 1