New York Diamonds articles from November 2010

New York Diamonds archives from November 2010

Message from the Publisher.
November 1, 2010... Dear readers, I write these word just days before the Kimberly Process convenes its annual Plenary Meeting in Jerusalem, Israel. This has been a tumultuous period for the KP, which is ironic inasmuch as 2010 has been a year in which civil war...

Jewelry Information Center announces Jeffrey Post as 2011 Lifetime Achievement Award winner.(Trade Notes)
November 1, 2010... The Jewelry Information Center (JIC), the consumer education arm of Jewelers of America, has announced that the 2011 GEM Lifetime Achievement Award, due to be presented on January 7, will go to Dr. Jeffrey E. Post, Curator of the U.S. National...

Diamond-set saucepan promoted as investment at Moscow Millionaire Fair.(Trade Notes)
November 1, 2010... For the multi-millionaire who has everything, there is an opportunity to buy a special saucepan for his head cook. A diamond-studded saucepan was among the ostentatious objects on display at Moscow's top annual luxury fair, along with fast cars...

Pink diamond expected to sell at Sotheby's auction for up to $38 million.(Trade Notes)
November 1, 2010... A rare rectangular 24.78-carat pink diamond with rounded corners set in a ring between two white diamonds could sell for as much as $38 million when it is auctioned by Sotheby's in Geneva in mid-November. The gemstone has been graded by the...

British jeweler Stuart Hughes creates the world's most expensive diamond-set mobile phone.(Trade Notes)
November 1, 2010... Well-known British jeweler Stuart Hughes, who creates diamond set cell phones, has launched a diamond-set iPhone 4 valued at $8 million which makes it the world's most expensive mobile phone. [ILLUSTRATION OMITTED] Made of rose gold, it is...

Tempered optimism in run-up to holiday shopping season.
November 1, 2010... As the trade prepares for the start of the 2010 holiday shopping season, there is reason to be cautiously hopeful that this year's retail sales will show a modest improvement on last year's, and especially on the deep pit sales fell into during...

Record-setting Bulgari Blue steals the show at Christie's New York jewelry sale: with a global recovery well underway, and continuing strong interest from Asian buyers in prestigious diamond jewelry, the stage was set for headline-making sales in New York in October. And that is exactly what happened as Christie's sold a range of diamonds.
November 1, 2010... Auction house Christie's raised $55.5 million on Wednesday from its jewels: The New York Sale which was 90 percent sold by lot, and 95 percent by value. The highlight of the sale was The Bulgari Blue, a two-stone ring featuring a rare fancy...

Canadian diamond jewelry market set for growth after weathering the economic storm.
November 1, 2010... U.S. diamond dealers who think Canada is a smaller mirror of their own country, and that it must therefore be suffering from a struggling economy and sluggish demand for diamonds at the moment, might be surprised by the true picture of a...

Marine mining output playing a bigger role in Namibia's diamond production.
November 1, 2010... Given the huge potential diamond deposits that marine mining offers, especially off the coastline of South Africa and Namibia, it comes as something of a surprise that it receives relatively little attention. All the more so in light of the fact...

Tighter bank credit: becoming a permanent fact of life for diamond firms.
November 1, 2010... 'For the diamond trade, the name of the game now is transparency and how you've weathered the crisis. If you've raised money, it will be possible to raise credit. But if you're lost money and you're sitting on inventory, it could be difficult.'...

Business as usual, says Lussier, despite concerns over penny's departure: despite the fact that De Beers' diamond production in the 20 years has halved to around 40 percent of global output, it nonethless remains an important player. In this interview, Lussier answers questions regarding De Beers' intentions in the medium term as well as other issues of significane to the diamond sector.(Interview)
November 1, 2010... De Beers' CEO Gareth Penny is, perhaps, the best-known global diamond figure. It therefore came as a big surprise to hear in July that he was stepping down from the top post at the company, all the more so given that De Beers seems to have dealt...

Diamond demand and ethics: which way forward? The insatiable Indian appetite for diamonds, the growing demand for improved ethics in the jewelry business and the awareness that the Kimberley Process needs to be improved all came together in a perfect storm at this year's Rapaport conference, held at the times conference center in New York city.
November 1, 2010... The conference comprised two themes: the morning was devoted to diamond demand, while the afternoon focused on the ethical issues of human rights. The two themes coalesced dramatically when Aagam Sanghavi, director of Sanghavi Exports...

Tender is not the sight of Choice for some diamantaires: do diamond tenders, or auctions, present a snapshot of current market conditions, as diamond producers claim? Or do they serve to squeeze out the smaller players who sometimes cannot even afford to attend the events, and effectively lead to speculation as buyers push prices constantly higher as many diamond manufacturers claim.
November 1, 2010... In recent years, the growing trend towards selling rough diamonds at tender has served to create something of a division in the diamond industry. On the one hand, the diamond producers who see it as a transparent means for finding the market...

Tough road to recovery for Sierra Leone despite lifting of UN sanctions: Sierra Leone has come a long way in its reconstruction efforts following the destruction of the 11-year civil war. With the memory of conflict diamond fuelled conflict fading, the country is moving in a positive direction. But, despite rising revenues from its diamond industry, Sierra Leone still has a long way to go in its rebuilding efforts.
November 1, 2010... The huge media coverage of the appearance by model Naomi Campbell when she gave evidence at the Special Court for Sierra Leone in August regarding diamonds she received from former Liberian ruler Charles Taylor in 1997 focused attention on the...

Diamond industry reports good business at Hong Kong September show.
November 1, 2010... Although there has been a recovery in rough diamond prices since around the middle of 2009, polished prices have lagged behind while retail jewelry prices, certainly in the United States, have not yet taken off. Consequently, the global diamond...

Asia set to play greater role in Rio Tinto's diamond distribution.
November 1, 2010... Although De Beers and Alrosa dominate global diamond production, with around 40 percent and 25 percent, respectively, other miners also play an important role. Among them is Rio Tinto, with well-known mines in Western Australia, Canada and...