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On Thursday July 27, De Beers released financial results for the first half of the year, which show just how much it’s been battered by COVID-19—with total revenue coming in at $1.2 billion, a 54% drop from the year before, which itself was not a great period.
A necklace featuring a 115.83-carat diamond was the top seller at Christie’s in New York on Wednesday July 29, bringing in $6.3 million at the live Magnificent Jewels auction.
LVMH, which owns Bulgari and Chaumet, saw sales of watches and jewelry slump in the first half of 2020 as the coronavirus reduced tourist spending and affected demand from wholesale customers.
For this exceptional summer, the Houses have vied with each other to show their audacity and creativity, and present their expertise with sumptuous collections of fine jewelry.
A twin-stone diamond ring sold for $9.3 million at Christie’s Geneva Magnificent Jewels sale after “spirited bidding” from several participants competing via telephone, the auction house reported.
Press release – ALROSA retains its commitment to support its clients and the diamond industry and announces a new set of unprecedented measures to offer additional flexibility to its rough diamonds’ buyers.
The possibility of a “Warby Parker for fine jewelry” debuting and disrupting the status quo of jewelry retail has been anticipated within the industry for years.
Press release – The merger will expand opportunities for companies, consumers, and source communities.
De Beers’ sales and production nosedived in the second quarter as the coronavirus crushed diamond demand throughout the pipeline and forced shutdowns at several mines.
Alrosa’s sales and production slumped to their lowest levels in over a decade in the second quarter amid unprecedented weak demand for rough diamonds during the coronavirus crisis.
Two fancy-colored, heart-shaped diamonds led the Magnificent Jewels sale at Sotheby’s in Hong Kong, fetching a combined $18.7 million.
Lab-grown diamonds may soon develop their own distinct price scale that differs from that of natural diamonds, Andrey Zharkov, the former chief executive officer of Alrosa who now heads the lab-grown diamond company Ultra C, predicted during a recent webinar.