The report shows that couples are searching for vintage and antique rings, gold jewelry, pearls, and colorful pieces.
Indian Demonetization Delays Gemfields Auction
The company’s higher quality rough emerald auction, originally scheduled for this month, has been postponed until February.
London--Gemfields has announced that its auction of predominantly higher quality emeralds from the Kagem mine in Zambia has been postponed until February due to India’s recent demonetization policy.
The gemstone miner and marketer originally was slated to hold the sale this month.
In November, Indian Prime Minister Narendra Modi banned 500 and 1,000 rupee notes in an effort to tackle corruption and terrorism in the country by cracking down on “black money”--cash holdings that haven’t been accounted for or taxed--and catching counterfeit bills.
The two banned bills account for the vast majority of all currency in circulation, The New York Times reported, adding that the government is giving India’s citizens until the end of the year to change their 500 and 1,000 rupee notes in for other bills.
Gemfields CEO Ian Harebottle said that the majority of those who buy the company’s rough emeralds are from India.
“As has been widely covered in the international media, the new demonetization program will require an adjustment period to allow industries and stakeholders to adapt to the new policies,” he said.
Gemfields’ auction of predominantly mixed quality rubies from the Montepuez mine in Mozambique will proceed in Singapore in December as planned because it has a different customer base, drawing buyers from Thailand, Sri Lanka, Myanmar and China.
The mining company added that there has been no change to its revenue guidance for the 2016 financial year.
The Latest
He’s remembered as a “font of passion,” leaving behind a legacy of dedication to his craft and community.
The first one will take place next month during the Jewelers of Louisiana’s and Mississippi Jewelers Association’s conventions.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The redesigned boutique features interactive displays and a workshop space for hands-on learning about watchmaking.
A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Ho Brothers offers scalable solutions for the future of custom jewelry.
The company plans to invest $25 million in marketing initiatives to boost awareness around its namesake and licensed brands.
Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.
The former WJA executive director is MFM’s new managing director.
DDG encourages retailers to educate customers on the positive impact of purchasing natural diamonds.
Highlighting the most iconic Tiffany collections, it’s inspired by the company’s late window designer, Gene Moore.
Jen Cullen Williams and Duvall O’Steen explore how jewelers can save time and money by using AI to analyze engagement and create content.
The retailer previously turned down an $8.4 billion offer in 2018.
The Florida store’s owner Miguel Gonzalez is retiring.
The lab stresses the importance of accurate identification, as the difference in price is “substantial.”
The brand also plans to expand its retail footprint from 138 to 200 stores over the next three years.
One is reserved for a NAJA member, the other for a non-member.
Longtime employees Carie Lehrke and Megan Mattice have received promotions.
Three guests joined National Jeweler and Jewelers of America to discuss trending time periods, spotting reproductions, and more.
Chris Clipper and Robert Lepere join the company with 50 years of combined experience.
The trendy, metallic earrings wink at classic spring colors.
JSA said a man and woman pulled the safe out of an Oakland jewelry store but couldn’t quite get it into their van.
The miner’s March auction generated $19 million.
Helen McCluskey will succeed H. Todd Stitzer when he meets his 12-year term limit in June.
“Chopard x Julia Roberts” showcases the first gems cut from the 6,000-carat-plus “Insofu Emerald."