(Oct 22, ‘14, National Jeweler)
Geneva–Sotheby’s anticipates that the 8.62-carat pigeon’s blood “Graff ruby,” one of the finest privately owned rubies in the world, will sell for as much as $9 million at its auction in Geneva next month.
Sotheby’s Nov. 12 sale of “Magnificent Jewels and Noble Jewels” brings together a group of exceptional jewels and gems from the collection of Dimitri Mavrommatis as well as pieces with a noble provenance.
(Oct 22, ‘14, National Jeweler)
New York–Platinum prices are expected to rise slightly in 2015, analysts say, with jewelry demand anticipated to increase as well.
Earlier this month, the white metal hit its low for the year, plummeting to $1,229 on the London PM fix.
(Oct 21, ‘14, JCK Online)
The Ebola outbreak is grabbing all the headlines, yet most of us don’t think about whether it affects our industry. But it does—West Africa is a significant source of diamonds, and the artisanal miners in the affected countries produce (depending on the estimates) about 1 percent of the world’s diamonds by value. That is, perhaps, not statistically significant, but it’s still a good deal of diamonds—and diamond mining in West Africa involves a good deal of people.
Babar Turay is an experienced ecologist who has worked for the U.S. Agency for International Development and Estelle Levin Ltd., with a focus on gold and diamond mining in Sierra Leone. A Sierra Leone native currently living in the diamond district of Kono, Turay has written about his personal experiences in a series of blog posts for Estelle Levin Ltd. (the first one is here), and he agreed to answer questions from JCK about the disease and how it’s affected the diamond sector in Sierra Leone.
(Oct 9, ‘14, National Jeweler)
Seattle–Online jeweler Blue Nile has launched a new mobile shopping application that includes the addition of augmented reality to its “Dream Box” feature, allowing consumers to see what a Blue Nile ring will look like on their hand.
The Dream Box feature, which was a component of the original app that came out in 2010, contains thousands of one-of-a-kind rings from Blue Nile. A shake of the phone reveals a custom Blue Nile diamond engagement ring, and for the first time, users can take a picture of their hand to virtually try on the ring.
(Oct 13, ‘14, National Jeweler)
New York–Shoppers will be cautious this holiday season, with average spending per household expected to decline from $735 in 2013 to $684 in 2014, according to a recent survey by PricewaterhouseCoopers U.S.
Findings for the company’s “2014 Holiday Outlook: Top trends, consumer behaviors and implications for retailers” were based on a survey of more than 2,200 shoppers nationwide.
(Oct 8, ‘14, National Jeweler)
Washington–The most recent holiday sales forecast, released Tuesday by the National Retail Federation, predicts that consumers will spend 4 percent more this November and December than they did last year.
Jewelers who spoke to National Jeweler Tuesday said while they don’t see this forecast as overly optimistic, it will be the high end of the market that’ll drive the growth.
(Oct 14, ‘14, Worthly.com)
Spending $743,590 on a wrist watch is excessive to most. The vast majority of timepieces cost nowhere near that much, even when designed by the most upscale, high-end, famous designers in the world. However, not all designers are Patek Philippe. Sotheby’s Important Watches Sale in Hong Kong on October 8 was more successful than even the auction house imagined, with Patek Philippe watches taking the top seven spots in timepiece sales. The most expensive being the diamond and platinum wristwatch with a perpetual calendar, which sold for more than $740,000.
(Oct 7, ‘14, Circa)
Several distinctive diamonds have hit the auction block since 2013.
Sotheby’s sold an 8.41-carat vivid pink diamond at an Oct. 7 auction in Hong Kong for $17.8 million, a record for that type of diamond. The diamond was predicted to sell between $12.9 million and $15.5 million.
(Oct 7, ‘13, BBC News)
A white diamond the size of a small egg has sold for $30.8m (£19.1m) at an auction in Hong Kong.
A phone bidder bought the 118-carat rock, edging out a previous price record for a white diamond of $26.7m.
(Oct 15, ‘14, JCK Online)
At the De Beers forum at this year’s JCK Las Vegas show, CEO Philippe Mellier surprised attendees by declaring that one of the industry’s biggest problems was diamond trade-ins. When consumers receive low prices for their used gems, he pronounced, that adds to a low opinion of the product.
Just two months later, De Beers launched the International Institute of Diamond Valuation (IIDV), which is nothing less than an attempt to reinvent diamond buying. The service is built around a New York City lab that will value trade-ins for retailers. So far, it’s signed up four jewelers, representing 14 stores—R.F. Moeller, the three-store chain in Minneapolis; two out of nine Rogers Jewelers stores; some Reeds stores; and Padis Gems, San Francisco—in what it stresses is only a pilot project.