Dominion Diamond lowers prices as sales, profits fall
Sales and profits have plunged at Dominion Diamond, the world’s third-largest diamond producer, and the company has followed other producers and lowered prices in August.
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What the Tiffany ruling means for the industry
In a week of big stories, the outcome of Tiffany v. Costco was certainly the biggest, as a federal court in New York handed down a decision that answered the question
Artist Chan turns 507-ct Cullinan Heritage diamond into jewelry masterpiece
Hong Kong-based jewelry retailer, Chow Tai Fook, debuted “A Heritage in Bloom” Thursday by world-renowned jewelry artist Wallace Chan.
Former Apple exec joins LVMH
LVMH has named Ian Rogers, a veteran of Apple and Beats Music, its chief digital officer. Rogers was the CEO of Beats Music and joined Apple in 2014 as a senior director when it acquired Beats Music.
A sustained diamond supply surplus
Don’t be fooled by the pitch that touts shortage as a reason for investors to plough dollars into the diamond mining sector. In fact, like many other commodities in the world today, the diamond industry is also drowning in a supply glut.
Sightholders don’t see relief in sight
Pop quiz: Rough diamond prices were reduced at Sight 7 by: 13%, 9% or 5%? If you examine the price list, you’ll see that the price of some goods decreased by as little as 2.5%, whereas others were cut by as much as 20%.
GIA plans melee screening service,will grow synthetics
The Gemological Institute of America lab will soon have the ability to mass-screen smaller stones to check for synthetics, chief laboratory and research officer Thomas M. Moses said in a speech delivered Aug. 31 at the Israel Diamond Exchange.
Tiffany closes diamond polishing plant in Namibia
Windhoek, Namibia – Tiffany & Co. confirmed Monday that Laurelton Diamonds, its diamond sourcing, cutting and polishing subsidiary, has closed its polishing factory in the Namibian capital of Windhoek and laid off all 157 employees in the process.
The Melee market
Used as accents or for pavé, melee is an integral part of the diamond market. Melee has always been an important player in the diamond market, accenting jewelry and creating sparkling pavé.
Russia outshines Botswana as world’s top diamond producer in 2014
Global diamond output grew 4 percent in value last year to $14.5 billion as the average price per carat jumped 8 percent to $116.17
Op-Ed: insanity of the diamond industry
Veteran Philadelphia, Pennsylvania jeweler Neil Reiff last month published the following commentary on LinkedIn. With “Insanity of the Diamond Industry”*, the president of N.D. Reiff Company Ltd. raises a number of compelling concerns and questions for our industry. The article is reposted here with Reiff’s permission.
GIA to open diamond synthesis center
Speaking at the International Diamond Week in Ramat Gan, Tom Moses, GIA executive vice president, announced that the lab is planning to open a diamond synthesis facility in New Jersey.