Policies & IssuesNov 27, 2024
G7 Announces Botswana as Second Verification ‘Node’ for Rough DiamondsBotswana joins Antwerp as a certification center for rough under the G7 ban on Russian diamonds.
SourcingJan 05, 2017
Diamond Trade ‘Optimistic’ for 2017
Diamond dealers are echoing the same sentiment expressed by jewelers--they gotta feeling that this year is going to be a good, good year.
Diamond traders and manufacturers are looking to the United States to continue to support global demand for diamonds in 2017 as trading in other markets remains subdued.
New York--According to Rapaport, diamond dealers are echoing the same sentiment expressed by jewelers--they gotta feeling that this year is going to be a good, good year.
In its monthly report for December, the Rapaport Group stated that initial indications from the holiday season were “encouraging,” noting the increase in consumer confidence in December and the rising stock market.
Interviews conducted by National Jeweler with jewelers across the country Tuesday seemed to affirm the notion that the holiday season just past was indeed a merry one, with all who were interviewed reporting they had a strong holiday season.
A number of jewelers said it was their best Christmas-Hanukkah stretch in years, leaving them extremely bullish on 2017.
The Rapaport Group said diamond dealers are optimistic about U.S. demand for polished diamonds in 2017, with the expectation that President-elect Donald Trump is going to reduce taxes and create jobs--pledges that have both come under scrutiny--“largely expected to improve trading conditions.”
Polished diamond prices, meanwhile, softened in December and diamond trading was quiet, as is normally the case during the month.
The RapNet Diamond Index (RAPI) for 1- and 3-carat GIA-graded diamonds was down 1 percent in December, while the RAPI for 0.50-carat stones fell 2 percent.
The only size tracked by the index to show a gain, albeit very slight, was 0.30-carat stones, up less than 1 percent.
For the full year, prices finished down 8 percent for 3-carat diamonds, down 5 percent for 1-carat diamonds, down 1 percent for half-carat stones, and down 0.5 percent for diamonds that are 0.30 carats.
The Rapaport report again noted the impact that Indian demonetization, which pulled the widely used 500 and 1,000 rupee notes out of circulation, is having on demand for lower-quality and smaller rough and polished diamonds.
RELATED CONTENT: Indian Demonetization Delays Gemfields Auction
De Beers and Alrosa both made the same observation when releasing their last sales reports of the year in December.
As for rough diamond demand, the Rapaport Group report said after being seasonally slow in the fourth quarter, it is expected to pick up in the first quarter 2017.
More on Sourcing
The Latest
CollectionsNov 27, 2024
Piece of the Week: Mignon Faget’s ‘Crescent Starry Night’ Tassel EarringsMignon Faget honors its hometown of New Orleans with a piece inspired by “The Crescent City.”
TechnologyNov 27, 2024
Nivoda Secures Additional Funding The London-based business-to-business diamond and gemstone marketplace just closed on a $51 million round of Series C funding.
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
AuctionsNov 26, 2024
Christie’s To Auction Collection of Suzanne Belperron JewelsIt’s one of the most impressive assemblages of the French designer’s pieces ever to come to auction, Christie’s said.
Weekly QuizNov 26, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsNov 26, 2024
The Smart Lab: 7 Strategies for Refining Your Holiday Email Marketing CampaignsSuccessful email marketing campaigns are all about timing, personalization, and compelling CTAs, Emmanuel Raheb writes.
MajorsNov 26, 2024
GIA’s Board of Governors Adds 2 New MembersRetail leader Lisa Bridge and geology professor Dr. Wendy Bohrson joined the organization’s board.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
MajorsNov 26, 2024
Ben Bridge Jeweler Unveils This Year’s ‘Benny Bear’ Look out for a black bear wearing a purple Santa hat and its zippered tummy pouch made for holding a holiday gift from Ben Bridge Jeweler.
SourcingNov 25, 2024
William Goldberg Celebrates 2 Major Milestones With New Book“The William Goldberg Way” was released in honor of the company’s 75th anniversary and 25 years of its proprietary Ashoka diamond.
Lab-GrownNov 25, 2024
Lab-Grown Co. Lusix Sold to 2 Companies for $4M Fenix and Dholakia Lab-Grown Diamonds have jointly acquired the Israel-based company, which grows diamonds using solar power.
IndependentsNov 25, 2024
Sophie Bille Brahe Opens First US StoreThe Danish brand has opened an appointment-only location on Madison Avenue in New York City.
Events & AwardsNov 25, 2024
The Original Miami Beach Antique Show Panel to Feature Fred SavageThe actor and watch enthusiast will be part of the show’s education lineup.
EditorsNov 22, 2024
Out & About: Inside the CD Peacock MansionStep inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
CollectionsNov 22, 2024
Piece of the Week: Xander Jane’s ‘Spiked’ Pearl StudsThese punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
SourcingNov 22, 2024
Facets of Fire Expands to Include Pear, Marquise DiamondsThe company brings its nanotechnology to two new fancy cuts for diamonds that feature its signature color and brilliance.
Supplier BulletinNov 21, 2024
Tasha R Releases 2025 Labbelle Lab Diamond Jewelry CatalogSponsored by Tasha R
AuctionsNov 21, 2024
Gold Watch Gifted to Titanic Rescue Ship Captain Sells for $2MThree Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
MajorsNov 21, 2024
Harris Jewelry Ordered to Reopen Claims Portal for Refund RequestsA federal court found that the jewelry store chain violated terms of the settlement reached after it was accused of defrauding customers.
CollectionsNov 21, 2024
Channel Elphaba in Muse’s ‘Have a Heart x Cynthia Erivo’ CollectionCynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
MajorsNov 21, 2024
Rocksbox Opens Pop-Up Store in San FranciscoThe new space was designed to evoke a warm, inviting vibe.
IndependentsNov 21, 2024
Mary Moses Kinney Is Now Part of The Edge’s Team Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
CrimeNov 20, 2024
Sotheby’s to Pay $6.25M Settlement to NY State for Alleged Tax FraudThe auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
Events & AwardsNov 20, 2024
Kering Debuts New Jewelry Award With Sustainability FocusThe four finalists will present their pieces at the 2025 JCK Las Vegas show.
CollectionsNov 20, 2024
Pamela Love Channels Surrealist Artists in New CollectionThe “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
Policies & IssuesNov 20, 2024
Columbia Gem House Raises $10K for Reforestation EffortsThe money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
Events & AwardsNov 20, 2024
The Jewelry Symposium Opens Registration, Scholarship ApplicationsThe event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
