Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
US consumer demand for diamonds ‘consistent’
Polished diamond prices continued their slide in September, with U.S. demand for diamonds described as steady but growth in other key markets restrained.
New York--Polished diamond prices continued their slide in September, with U.S. demand for diamonds described as steady but growth in other key markets restrained.
According to the Rapaport Monthly Report for October, the RapNet Diamond Index (RAPI) for 1-carat, Gemological Institute of America-graded diamonds was down 3 percent in September and has dropped 7 percent year-to-date. Compared to Oct. 1, 2014, 1-carat polished prices are down 14 percent.
The RAPI for September showed that prices for 0.3, 0.5 and 3-carat diamonds were down as well.
Globally, it is consistent U.S. consumer demand that is buoying the trade, providing stability and compensating for weakness in other markets, Hong Kong and China particularly. In fact, the U.S. market actually is experiencing a shortage of SI-clarity diamonds, which are in high demand.
Because of weak demand globally, wholesale and retail buyers aren’t taking on any excess inventory and are buying to fill existing orders, the Rapaport report stated. There are few very new diamonds coming into the market, though manufacturers hope for strong sales this holiday season so retailers start buying again in the first quarter 2016.
U.S. jewelry sales showed signs of life in July, increasing 4 percent year-over-year with diamond and platinum jewelry particularly strong.
So far, analysts’ predictions for the months of November and December are generally optimistic. It will not be a great holiday season but sales will continue to grow, albeit slowly.
One industry analyst said he is cautiously optimistic about the upcoming holiday season because consumers seem ready to spend and a number of economic indicators are positive.
The National Retail Federation also seems to be erring on the side of optimism, predicting a 4 percent year-over-year increase in retail sales for the months of November and
The Latest
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.