IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 YearsThe independent jeweler first opened its doors in 1888.
EditorsApr 18, 2012
Diamonds, the new safe haven?
Major changes are afoot at the world’s largest diamond miners: De Beers, BHP Billiton and Rio Tinto. After 80 years in the business, the Oppenheimer family likely will be out of the diamond trade by years’ end. Both BHP Billiton...
Major changes are afoot at the world’s largest diamond miners: De Beers, BHP Billiton and Rio Tinto. After 80 years in the business, the Oppenheimer family likely will be out of the diamond trade by years’ end. Both BHP Billiton and Rio Tinto have said they want to exit as well.
In a recent column, IDEX Online’s Edahn Golan said that he expects to see diamond funds and other forms of investment in diamonds begin operations within the year. He reiterated that same point when quoted in a story called “Diamonds as a Commodity” (which led with the question, “Could diamonds be the new gold?”) published by The New York Times on Friday.
The idea of diamond investment funds is one that has been talked about since I started working at National Jeweler more than four years ago. But is now the time for it to happen?
As noted above, there are major changes taking place in the industry. Though it has been said that it will be “business as usual” at De Beers, Anglo American is bound to have a different take on the business once the Oppenheimers are gone. While there has been much speculation about the future owners of the diamond mines operated by Rio Tinto and BHP Billiton, the latest reports have named a leveraged buyout firm called Kohlberg Kravis Roberts & Co. as a front-runner in the bidding war.
It’s also worth noting that last May, Harry Winston Diamond Corp., which reportedly also is interested in the diamond assets of BHP Billiton and Rio Tinto, announced that it was teaming up with a company based in Zurich to create a diamond investment fund. (Interestingly, it’s been noted how Harry Winston CEO Robert Gannicott said during the company’s recent conference call that diamonds are “too complex” to be treated as a commodity. Except for when, I guess, Harry Winston wants to treat them that way?)
There’s also the current world economic situation to consider. On Monday evening, I had dinner with an independent jeweler who said he was investing in natural color diamonds because he knows they are going to go up in value, unlike his stagnant stock portfolio, which still is struggling to recover from the
Editors' Picks
Sponsored by
beating it took during the downturn.
This retailer has at least one client who feels the same way; the two actually share ownership of a nice yellow diamond, which they (obviously) hope to sell for a profit eventually. And he said he’s interested in investing in more natural color diamonds.
I understand that one jeweler investing in a natural color diamond is not nearly as complex as launching an entire diamond investment fund. But I use this anecdote to make a point: Given all the economic instability in the world, people are looking for somewhere stable to put their money.
Are diamonds going to be it?
This retailer has at least one client who feels the same way; the two actually share ownership of a nice yellow diamond, which they (obviously) hope to sell for a profit eventually. And he said he’s interested in investing in more natural color diamonds.
I understand that one jeweler investing in a natural color diamond is not nearly as complex as launching an entire diamond investment fund. But I use this anecdote to make a point: Given all the economic instability in the world, people are looking for somewhere stable to put their money.
Are diamonds going to be it?
More on Editors
The Latest
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in FloridaThe debut event will take place in Miami’s Coconut Grove neighborhood this fall.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor ShortageThe roundtable will take place May 17 ahead of the trade show’s welcome dinner.
Weekly QuizMar 27, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry CollectionThe “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
TrendsMar 31, 2025
Amanda’s Style File: Dripping in DiamondsDiamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With AcquisitionThe Utah-based company known for making wedding bands has acquired Doubloon Golf.
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH WatchesThe longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
SourcingMar 28, 2025
19th-Century Jade Book Now Available in EnglishLotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
MajorsMar 26, 2025
QVC Group Appoints New PresidentAlex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat RubyThe ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft RecoveredThe two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More JewelryThe time to start experimenting with video content is now, writes columnist Emmanuel Raheb.
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic DesignFrom striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid TurnaroundThe jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.
