CollectionsFeb 03, 2023
Chipotle Spices Up Valentine’s Day with Jewelry CollectionThe fast-casual chain partnered with Anna Sheffield’s Bing Bang NYC brand on a capsule collection and it’s a little “extra.”
SourcingNov 20, 2018
This Is Who Bought Gemfields’ 5,655-Carat Emerald
It is an Indian company known for its high-end colored gemstone jewelry.
Rajkumar and Rishabh Tongya of Dia-Color purchased the 5,655-carat “Inkalamu” rough emerald at Gemfields’ recent auction in Singapore.
London—After financing issues hurt its May emerald auction, Gemfields bounced back at its most recent sale, even finding a buyer for one particularly large piece of rough.
The colored gemstone mining company held an auction of higher-quality rough emeralds in Singapore from Nov. 14 to 17 that generated revenues of $28.4 million, with an average price per carat of $68.03.
The gemstone miner said “improved liquidity” among trade customers led to 74 percent of the carats on offer being sold. This compared with 56 percent at the last auction of higher quality emeralds held in Zambia in May, when Gemfields said the Nirav Modi fraud scandal made it difficult for Indian clients to get financing.
The auction was 77 percent sold by lot, up from 59 percent in May.
“The results of what was our first Singapore emerald auction in more than three years clearly reflect the emerging recovery among our trade customers after a protracted period of difficulty,” said Gemfields Managing Director of Product and Sales Adrian Banks. “The marked increases in the percentage of carats and number of lots sold, combined with the uptick in per carat price, bode well for further improvement in 2019.”
The highlight of the sale was the purchase of Inkalamu, the 5,655-carat emerald uncovered at Kagem in early October. Rajkumar and Rishabh Tongya of Dia-Color, an Indian company that specializes in high-end gemstone jewelry, purchased the rough gemstone.
Gemfields is not disclosing the purchase price but has said it will donate 10 percent of the proceeds to its conservation partners the Zambian Carnivore Programme and the Niassa Carnivore Project.
The Inkalamu emerald utilizes the Gübelin Provenance Proof nano-tagging, allowing all future stones cut from the rough to be traced not only to the mine of origin but to the gem of origin.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
EditorsFeb 03, 2023
Piece of the Week: Gismondi 1754’s ‘Marea’ CuffThe diamond and tanzanite bracelet was inspired by the waves of the Italian gulf near Genoa.
CollectionsFeb 02, 2023
Lowe’s Is Now Selling JewelryThe home improvement store’s website features an “Empowerment Tools” demi-fine jewelry collection.
Brought to you by
Bringing Over 130 Years of Diamond Expertise to Modern GradingDe Beers Institute of Diamonds provides the very best in diamond verification, education and diamond services.
Events & AwardsFeb 02, 2023
Registration is Now Open for JIS Spring 2023The show will feature a new pavilion of 30 jewelry designers and manufacturers from Surat, India.
Weekly QuizFeb 02, 2023
This Week’s QuizTest your jewelry news knowledge with this short test.
Policies & IssuesFeb 02, 2023
Tiny Radioactive Capsule Lost in Australian Outback FoundA government official said search crews “found the needle in the haystack” when they located the capsule belonging to Rio Tinto along an 870-mile stretch of road.
TrendsFeb 02, 2023
Amanda’s Style File: Purple and Playful Amanda Gizzi welcomes February with a selection of amethyst jewelry, a birthstone that “deserves its own time to shine.”
Brought to you by
De Beers Institute of Diamonds Expands to Offer Education De Beers is sharing over 130 years of experience and expertise through the De Beers Institute of Diamonds with a selection of courses.
EditorsFeb 01, 2023
Designers to Watch in 2023: BoochierBehind the playful and nostalgic brand lies deeper meaning.
Events & AwardsFeb 01, 2023
New Miami Jewelry Center Slated to Open in Q1The Time Century Jewelry Center is located in downtown Miami’s jewelry district.
SurveysFeb 01, 2023
Consumer Confidence Falls in JanuaryWariness about the year ahead offset a more positive view of the current economic situation.
MajorsFeb 01, 2023
Six New Retailers Appointed to IJO’s Board of DirectorsThe IJO also welcomed one new vendor member to its 13-member board, Brecken Farnsworth of Parlé Jewelry Designs.
ColumnistsJan 31, 2023
Squirrel Spotting: How About a Word for the New Year?It begins with a “t” and ends with a “c” and is imbued with warmth and positivity, Peter Smith writes.
Policies & IssuesJan 31, 2023
Rio Tinto Issues Apology After Radioactive Capsule Goes Missing The tiny capsule, which is believed to have fallen out of a truck, was lost somewhere along an 870-mile stretch of desert road.
MajorsJan 31, 2023
Indian Jewelry Brand Tanishq Opens First U.S. Store, More on the WayThe jeweler’s expansion plans include 20 to 30 more stores in North America and the Middle East over the next two to three years.
Events & AwardsJan 31, 2023
Gucci Is Getting a Gem AwardThe Italian luxury brand will receive the first Gem Award for High Jewelry Excellence.
MajorsJan 31, 2023
Martin Flyer Names New VP of Business DevelopmentIndustry veteran Kevin Lane has stepped into the role.
MajorsJan 30, 2023
Researchers Uncover Bejeweled ‘Golden Boy’ MummyThe ancient Egyptian teenager was buried 2,300 years ago with 49 amulets to guide him through the afterlife.
SurveysJan 30, 2023
Consumers Embracing Non-Traditional Ways to Mark Valentine’s Day The NRF’s annual survey shows that consumer attitudes about how, or even whether, to celebrate Feb. 14 continue to evolve.
Events & AwardsJan 30, 2023
JA Is Searching for the Next Retail ’20 Under 40’ Nominations are open now through March 24.
MajorsJan 30, 2023
10 Jewelry News Stories You Might Have MissedA column detailing how independent jewelers did last year and the top watch brands of 2022 were among the most-read stories last week.
FinancialsJan 27, 2023
Tiffany & Co. Shines for LVMH in 2022Acquired in 2021, the brand’s high jewelry sales have doubled and its new “Lock” collection was an instant hit.
MajorsJan 27, 2023
Diamond Council of America Appoints Treasurer, Board MemberExecutives from Fred Meyer Jewelers and Riddles Jewelers have filled the roles.
CollectionsJan 27, 2023
Piece of the Week: Heavenly Vices’ Lock NecklaceThe Victorian-inspired design is a functional lock and key.
Supplier BulletinJan 26, 2023
JA New York Spring Brings the Industry TogetherFor over 100 years, JA New York has played an integral role in facilitating the evolution of our industry, while also honoring past traditions.
TrendsJan 26, 2023
At Vicenzaoro, Paola De Luca Gazes Into Jewelry’s FutureThe trend forecaster and her guests explored unconventional jewelry designs, NFTs, AI art, and more during her Trendvision presentation.
CollectionsJan 26, 2023
NDC and Lorraine Schwartz Announce New ‘EDDI’ ClassThe Emerging Designers Diamond Initiative provides diamond credit and mentorship to young brands helmed by BIPOC designers.
