M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
De Beers’ Rough Diamond Sales Dip to $630M
The diamond miner and marketer’s sales were down 5 percent in the fourth sales cycle of the year, the first time they have decreased this year.
London--For the first time this year, rough diamond sales were down for De Beers.
The miner and marketer said Tuesday that preliminary results indicated rough diamond sales totaled $630 million in the fourth sales cycle of the year, down from the revised $666 million total reported in the third cycle.
Results from the fourth sales cycle, which ran up to May 23, include auction sales as well as the sight De Beers held from May 16 to 20 in Gaborone, Botswana.
Since it began disclosing rough diamond sales data on a cycle-by-cycle basis at the beginning of this year--a move designed to increase transparency so the market doesn’t “rely on rumors” when it comes to rough diamond prices--De Beers has reported consistent rough sales increases, though the fourth sales-cycle slowdown is not entirely unexpected. It is a period of the year when rough diamonds sales historically have been lower.
In its first sales cycle of the year, the company said rough diamond sales totaled $545 million in January after a positive holiday season. This was followed by another bump to $617 million in the second sales cycle.
De Beers holds 10 sights throughout the year.
“As normal seasonal trends return to the market, we are encouraged by the continued stability of demand for rough diamonds shown in the fourth sales cycle of 2016,” De Beers CEO Philippe Mellier said.
The Latest
The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.