Sales of rough at BlueRock Diamonds more than doubled in 2021 as strong demand drove up the average price for its goods.Revenue came to GBP 7.8 million ($9.5 million), compared with GBP 3.6 million ($4.4 million) the year before, BlueRock said last week. The average price surged 59% year on...
RAPAPORT... India has increased the rate of goods and services tax (GST) on polished diamonds — a move that, perhaps surprisingly, has received a positive welcome from the industry.The levy for the category has risen to 1.5% from 0.25%, the country’s Gem & Jewellery Export Promotion...
Hong Kong’s hard-luxury sales saw an upturn in May amid an improved health situation, even as total retail revenue dipped slightly.Sales of jewelry, watches, clocks and valuable gifts climbed 7% year on year to HKD 3.33 billion ($424.4 million) for the month, the municipality’s Census and...
RAPAPORT... The number of crimes against US jewelers exceeded pre-coronavirus levels last year — but the value of losses fell, according to the annual Jewelers’ Security Alliance (JSA) report on the subject.
The tally rose 17% to 1,687 events in 2021 compared with 1,438 in 2019, the JSA...
Rough prices jumped at Petra Diamonds’ sixth tender of the year as demand increased.The June sale realized $93 million, up 8% from $86.1 million in May, the miner reported last week. Like-for-like prices rose 8%. The average price climbed 21% month on month to $163 per carat, according to...
RAPAPORT... De Beers Forevermark will require its partners to sell the brand’s own jewelry designs in a strategic shift aimed at achieving greater consistency.Previously, Forevermark customers were able to select loose diamonds from the brand and place them in their own or third-party...
French auction house Artcurial will offer a 17.5-carat diamond at its upcoming Monaco Luxury week, where it expects the stone will realize up to EUR 1.5 million ($1.6 million).The emerald-cut, D-color mounted diamond will lead a series of three sales, that will take place on July 18, 19 and 20,...
RAPAPORT... Luk Fook’s sales weakened in the past months as Covid-19 dampened retail spending across greater China, the Hong Kong-based jeweler reported.Group same-store sales — in Hong Kong and the mainland — declined in March and April amid a resurgence of the virus in both locations, the...
Rio Tinto has put the Star-Orion South diamond project in Canada on hold until the end of the year while it weighs a possible exit from the venture.The Australian miner will not contribute financially to the Fort à la Corne (FalCon) exploration during that time other than for care and...
RAPAPORT... Digital-marketing expert Ben Smithee, founder of The Smithee Group, joins Rapaport’s Avi Krawitz to discuss how the rapidly changing media space is impacting the industry.
In this episode of the Rapaport Diamond Podcast, the two delve into how the trade can use data and...