London-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.
Store Closures Continued to Slow in Q2, JBT Says
Even as fewer industry businesses are discontinued, new openings also have slowed down, the most recent data from the Jewelers Board of Trade shows.
Warwick, R.I.--Even as the trend of jewelry businesses closing up shop remains, the pace with which they are closing has been slowing, continuing a trend seen in the first quarter.
The most recent data from the Jewelers Board of Trade shows that in the second quarter in North America, 194 jewelry retailers, wholesalers and manufacturers ceased operations, compared with 442 in the same period last year. The bulk of this continues to be retail jewelers closing, representing 160 of those closures.
Breaking down the numbers by region, in the United States there were 187 jewelry retailers, wholesalers and manufacturers that ceased operations during the second quarter, down 56 percent from 428 in the same period in 2016.
Meanwhile, year-to-date in the U.S., businesses ceasing operations declined 38 percent to 464.
But while that pace has abated, the total listings of companies registered with the JBT also are down, from 29,092 in Q2 last year to 27,620 this year--a 5 percent decrease.
Additionally, there also are fewer new businesses opening.
In North America, 29 new businesses opened in the second quarter across retail, wholesale and manufacturing, which is down drastically from the 83 new businesses that opened in the second quarter 2016.
In the U.S., there were 22 new jewelry retail stores, 1 new wholesale business and 2 new manufacturers. This compares with 60 new retailers, 15 new wholesalers and six new manufacturers in the same three-month period last year.
The year-to-date numbers also have decreased, with JBT reporting 77 new businesses in North America in the first half of 2017, compared with 156 in the six months starting 2016. For the U.S., those numbers are 71 in 2017 and 154 in 2016.
Other notable finds from the data are an increase in sales and mergers in North America--up from 21 in the second quarter last year to 43 in Q2 of 2017--and a decrease in the number of bankruptcies--12 last year versus eight this year.
The Latest

The workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.

The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.

As the holiday season quickly approaches, consider stocking one category that sometimes gets overlooked: earrings.

Founder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.


The luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.

The struggling diamond mining company, which owns the historic Cullinan mine, has launched a rights issue to raise about $25 million.

You deserve to know what you are selling–to protect your customers as well as your business and your reputation.

The book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.

Alexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.

The superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.

Retailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.

The nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.

The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.

Chief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.

Five dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.

Recently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.

The stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.

Hollywood glamour meets Milanese sophistication in the design of Pomellato’s new store in Beverly Hills, California.

The New York City store showcases a chandelier with 1,500 carats of lab-grown diamonds designed by an FIT student.

The Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.

Making its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.

They were attacked on Oct. 15, as approximately 40 miners without licenses marched on the mine’s gate.

It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.

Gemologist Lauren Gayda has previously worked at The Clear Cut, Taylor & Hart, and Effy Jewelry.

In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.

The new showcase dedicated to Italian jewelry design is set for Oct. 29-30.




















