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Gemfields unveils 40-carat ruby from Mozambique

(Dec 3 ‘14, National Jeweler)
London–Gemstone miner Gemfields discovered a 40.23-carat ruby–which it has called “one of the most important rubies unearthed in recent times”–at its Montepuez ruby deposit in Mozambique.

The Gübelin Gem Lab in Switzerland has appraised the piece of rough ahead of Gemfields’ December auction in Singapore, with Gübelin Managing Director Daniel Nyfeler noting in a statement that, “Although difficult to judge in the rough state, the transparency and color of the crystal indicate an important gemstone might be cut from this piece of rough. We are looking forward to following the development of this remarkable rough from its current state to a cut gem.”

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Kiran Gems invests in girls’ education in India

(Nov 20 ‘14, National Jeweler)
Mumbai–Diamond manufacturer Kiran Gems is partnering with the Smile Foundation to bring quality education to underprivileged children in India through the Mission Education program.

The collaboration will begin with the support of 100 girls across the country. Kiran will be investing in their education and healthcare for the coming academic session.

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JSA Warns of Fraudsters Impersonating Jewelry Vendors

(Nov 24 ‘14, JCK Online)
The Jewelers’ Security Alliance is warning the industry of a new seemingly sophisticated con in which jewelry companies are asked to send payments meant for vendors to fraudulent bank accounts.

The New York City–based security group says that it’s received two reports in the last month in which jewelry companies received startlingly on-target communications from vendors informing them of changes in their bank accounts. But when the principals checked with the vendors, they found the vendors had nothing to do with them.

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Gold fashion jewelry leads the way for Tiffany

(Nov 25 ‘14, National Jeweler)
New York–While results were mixed for Tiffany & Co. globally, sales in the U.S. market were relatively strong, led by consumer demand for fashion jewelry in karat gold.

The New York-based retailer reported Tuesday that same-store sales in the Americas rose 11 percent year-over-year in the third quarter ended Oct. 31. Total sales also increased 11 percent on a constant exchange rate basis, reaching $459 million.

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Gold Demand Trends Q3 2014

(Nov 13 ‘14, World Gold Council)
Gold demand totalled 929t in the third quarter, which proved to be a generally subdued quarter for the gold market. Jewellery demand softened by 4% year-on-year, but the comparison continues to be heavily influenced by the events in 2013. Longer term analysis shows a jewellery market in good health. Investment demand posted a 6% increase, reaching 204t, although a stable price caused investors to hold back. Central Banks added a further 92.8t to their coffers. Supply was down 7% in Q3; the volume of recycled gold continuing to shrink.

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IDI reviving diamond pop-up shop for Cyber Monday

(Nov 25 ‘14, National Jeweler)
Ramat Gan, Israel–The Israel Diamond Institute announced Monday that it will launch a direct-to-consumer, pop-up sales platform for loose diamonds and diamond jewelry on Dec. 1, the day known as Cyber Monday because of the high volume of online shopping.

The pop-up “mini-site” will be up through the end of December to allow various diamond companies the chance to sell directly to consumers for the entire month, IDI said. It will offer considerably discounted goods from a number of top Israeli diamond companies, ranging from 4 percent to 33 percent off, with list prices from $995 to $211,200.

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$5 Million Red Diamond Sets World Auction Record

(Nov 25 ‘14, JCK Online)
A heart-shape fancy red diamond ring by Moussaieff set a world auction record at Christie’s Hong Kong today.

The 2.09 ct. ring sold for $5,095,872 ($2.44 million per carat) to a private Asian investor.

“Colored stones and colored diamonds were keenly sought by private collectors and members of the international trade at Christie’s Hong Kong,” said Vickie Sek, deputy chairman of Christie’s Asia and director of Christie’s jewelry and jadeite department. “One of the finest red diamonds ever offered for sale achieved a world record price of well over $2 million per carat. It is also the most expensive red diamond ever sold at auction.”

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Online spending to reach $61B this holiday season

(Nov 20 ‘14, National Jeweler)
Reston, Va.–Though Comscore Inc. is predicting double-digit gains for online spending this holiday, the digital metrics firm notes that wage stagnation and lack of discretionary income among the middle class could weigh on the season.

Data released by the company Tuesday shows that total online retail spending is forecast to reach $61.1 billion during the two-month period, a 16 year increase as compared with last year.

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9.75 Carat Blue Fetches $3.3 Million a Carat, Sets All-Time Record

(Nov 21 ‘14, JCK Online)
On Nov. 20, a 9.75 ct. fancy vivid blue pear-shape fetched $3.3 million a carat at the Sotheby’s New York auction, setting a new high-water per-carat price for any diamond.

That price tops by a full $1 million the per-carat record set just one year ago, when a 14.82 ct. fancy vivid orange scored $2.3 million a carat ($35.3 million total) at a Christie’s Geneva auction.

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A plan for pulling in customers on Black Friday

(Nov 17 ‘14, National Jeweler)
Albany, N.Y.–With a little more than a week to go until Black Friday, Northeastern Fine Jewelry has a plan to compete with the big-box mania of the day, and it involves a camera and a television.

The retailer, which has two stores in New York state and one in Vermont, is marking Black Friday and Small Business Saturday by offering spend-and-receive deals on both days at all three of its stores. Small Business Saturday is a day designed during the holiday season to celebrate, and encourage consumers to shop at, small locally-owned businesses.

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