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If the cause is declining consumer share of wallet, then the effect is a sharp drop in rough sales. This means that we can expect rough diamond price reductions, fewer goods purchased at the December and January Sights, and bank financing to continue to be difficult.
De Beers has announced the dates of its sights in 2016: Sight 1: Monday January 18 – Friday January 22 Sight 2: Monday February 22 – Friday February 26
Vancouver, B.C. – Lucara Diamond Corp. President and CEO William Lamb knew that it was either very good or very bad news when his phone rang at 1:28 a.m. Monday morning Vancouver time.
The Diamond Producers Association (DPA), the organization set up by ALROSA, De Beers, Rio Tinto, Dominion Diamond Corporation, Lucara Diamond Corporation, Petra Diamonds Ltd, and Gem Diamonds Ltd. to support the development of the diamond sector, has appointed creative agency Mother New York as its global strategic marketing partner.
The civil society coalition that traditionally participates in the Kimberley Process will sit out next year’s meetings in response to United Arab Emirates serving as 2016 chair.
Here are some of this year’s biggest diamond stories: – De Beers is bringing back “A Diamond Is Forever.” – It’s also reviving its “Seize the Day” ads as part of a (quasi-)generic campaign.
Just imagine if she were to have a bat mitzvah. Hong Kong billionaire and fugitive from justice Joseph Lau reportedly purchased the two top record-setting lots at this week’s Geneva auctions.
The hype surrounding Sotheby’s and Christie’s auctions in Geneva this week created a buzz in the diamond trade that is otherwise starved for excitement.
This morning, Diamond Foundry premiered, a new California-based lab-grown diamond producer that is backed by Leonardo DiCaprio as well as “10 billionaires,” including the founder of Twitter. DiCaprio, who starred in Blood Diamond, tweeted about the company today.
Geneva – Richemont reported strong sales growth among its jewelry brands in the first half of the year, noting that jewelry now accounts for one-third of its total sales.
De Beers recorded one of its smallest ever contract sales in November as last week’s sight closed with an estimated value of $70 million. The rough diamond supplier kept prices stable and enabled extra flexibility due to the slump in sightholder demand.
Third quarter prices for blue diamonds were up 2 percent, with fancy vivid blue prices up 6 percent.