Sapphire Necklace Sells for $15M at Christie’s

A rare sapphire necklace was the top seller at Christie’s Magnificent Jewels auction in Hong Kong, which garnered about $60 million in total on Tuesday.

The Peacock Necklace, which had a presale estimate of $12 million to $15 million, became the most expensive Kashmir sapphire necklace per carat in auction history, Christie’s said.

 The piece contains 21 cushion-cut Kashmir sapphires weighing a total of 109.08 carats. It fetched $15 million at the sale, achieving a price of $137,146 per carat.

Christie’s also garnered $1.3 million from the sale of the 24.04-carat, fancy-yellow Moon of Baroda pendant, which Marilyn Monroe wore to the premiere of her 1953 movie, Gentlemen Prefer Blondes. The piece smashed its estimate of $500,000 to $750,000. An autographed photo of the actress wearing the necklace fetched $35,302, compared with its original estimate of $10,000 to $15,000.

An oval-shaped, 10.04-carat, Burmese pigeon’s blood ruby and diamond ring brought in $7.2 million in line with an expected $6.9 million to $8.7 million. A set of pear brilliant-cut, fancy-pink earrings weighing 5.21 carats and 5.01 carats sold for $4.3 million, within its presale valuation range of $3.8 million to $4.5 million .

Christie’s sold 70% of lots on offer at the auction.

Image: The Peacock Necklace. (Christie’s)

Source: DCLA

Sapphire Necklace Sells for $15M at Christie’s

A rare sapphire necklace was the top seller at Christie’s Magnificent Jewels auction in Hong Kong, which garnered about $60 million in total on Tuesday.

The Peacock Necklace, which had a presale estimate of $12 million to $15 million, became the most expensive Kashmir sapphire necklace per carat in auction history, Christie’s said.

 The piece contains 21 cushion-cut Kashmir sapphires weighing a total of 109.08 carats. It fetched $15 million at the sale, achieving a price of $137,146 per carat.

Christie’s also garnered $1.3 million from the sale of the 24.04-carat, fancy-yellow Moon of Baroda pendant, which Marilyn Monroe wore to the premiere of her 1953 movie, Gentlemen Prefer Blondes. The piece smashed its estimate of $500,000 to $750,000. An autographed photo of the actress wearing the necklace fetched $35,302, compared with its original estimate of $10,000 to $15,000.

An oval-shaped, 10.04-carat, Burmese pigeon’s blood ruby and diamond ring brought in $7.2 million in line with an expected $6.9 million to $8.7 million. A set of pear brilliant-cut, fancy-pink earrings weighing 5.21 carats and 5.01 carats sold for $4.3 million, within its presale valuation range of $3.8 million to $4.5 million .

Christie’s sold 70% of lots on offer at the auction.

Image: The Peacock Necklace. (Christie’s)

Source: DCLA

DCLA has opened a second diamond laboratory

Australia’s International listed and recognised diamond grading laboratory DCLA, has opened a second office under the directorship of Mr Matthew Zamel.

The new office Address 319/38 Gawler Place Adelaide SA 5000 This is the first after 17 years as Australia’s trusted name in diamond analysis certification.

DCLA employs the most qualified, knowledgeable people using the most technologically advanced gemmological equipment and references available worldwide.

DCLA remains the only laboratory who can guarantee all diamonds ever graded are untreated and natural mined origin.

DCLA founded in 2001 is an Australian based company and proudly the only Diamond grading laboratory recognised by international bodies from its founding.

About US

The DCLA is an Australian owned company.

The DCLA shareholders and directors have a heritage of over 3 generations in the industry.

The DCLA directors come from a long line of professional diamond cutters and markers.

Our involvement in the diamond trade has been from Diamond mining and in Africa, to our Cutting works in South Africa and most recently the formation in 2001 of the DCLA laboratory in Australia.

Source: DCLA

DCLA has opened a second diamond laboratory

Australia’s International listed and recognised diamond grading laboratory DCLA, has opened a second office under the directorship of Mr Matthew Zamel.

The new office Address 319/38 Gawler Place Adelaide SA 5000 This is the first after 17 years as Australia’s trusted name in diamond analysis certification.

DCLA employs the most qualified, knowledgeable people using the most technologically advanced gemmological equipment and references available worldwide.

DCLA remains the only laboratory who can guarantee all diamonds ever graded are untreated and natural mined origin.

DCLA founded in 2001 is an Australian based company and proudly the only Diamond grading laboratory recognised by international bodies from its founding.

About US

The DCLA is an Australian owned company.

The DCLA shareholders and directors have a heritage of over 3 generations in the industry.

The DCLA directors come from a long line of professional diamond cutters and markers.

Our involvement in the diamond trade has been from Diamond mining and in Africa, to our Cutting works in South Africa and most recently the formation in 2001 of the DCLA laboratory in Australia.

Source: DCLA

Lucapa Diamonds highest dollar per carat miner dazzles the market

Lucapa Diamond Company is well advanced with a strategic plan to unlock greater wealth from its asset portfolio by expanding production of large, premium value diamonds and continuing exploration programmes to make new discoveries.

Its operations include an extensive exploration programme at its 40% owned Lulo alluvial mine to locate the hardrock source or sources of the exceptional alluvial diamonds and the development of a second high value diamond mine at Mothae in Lesotho.

Source: DCLA

Lucapa Diamonds highest dollar per carat miner dazzles the market

Lucapa Diamond Company is well advanced with a strategic plan to unlock greater wealth from its asset portfolio by expanding production of large, premium value diamonds and continuing exploration programmes to make new discoveries.

Its operations include an extensive exploration programme at its 40% owned Lulo alluvial mine to locate the hardrock source or sources of the exceptional alluvial diamonds and the development of a second high value diamond mine at Mothae in Lesotho.

Source: DCLA

De Beers Sales Slip to $440M

De Beers recorded its lowest-value sales cycle this year as weak Indian demand prompted it to drop prices of cheaper goods.

Proceeds fell to $440 million in November as the miner reduced prices by high-single-digit percentages for rough diamonds costing $100 per carat or less, sightholders said last week.

The Indian manufacturing sector has struggled with thinning profit margins due to relatively high rough prices and the weak rupee, while tighter bank lending has further contributed to a decline in demand.

November is also seasonally slow as factories close for the Diwali festival.

Proceeds from the ninth sales cycle fell 6% compared with the equivalent period a year ago, and were down 9% versus the $482 million it garnered in October, De Beers reported Tuesday.

“As the industry’s focus turns towards the key end-of-year retail selling season, rough-diamond sales continued to be in line with expectation during the ninth cycle of the year,” said De Beers CEO Bruce Cleaver.

“While demand for smaller, lower-quality rough diamonds continues to see some challenges, the latest cycle saw some signs of improvement in this area as factories in India begin to reopen after Diwali.”

Rough-diamond sales came to $4.85 billion for the first nine cycles of the year, in line with a year ago, according to Rapaport calculations. The company offers its rough goods at 10 sales cycles across the year, mainly at sights in Gaborone, Botswana. Its sales figures also include auction proceeds.

Image: A De Beers sightholder examines a parcel of rough diamonds. (Kieran Doherty/De Beers)

Source: Diamonds.net

De Beers Sales Slip to $440M

De Beers recorded its lowest-value sales cycle this year as weak Indian demand prompted it to drop prices of cheaper goods.

Proceeds fell to $440 million in November as the miner reduced prices by high-single-digit percentages for rough diamonds costing $100 per carat or less, sightholders said last week.

The Indian manufacturing sector has struggled with thinning profit margins due to relatively high rough prices and the weak rupee, while tighter bank lending has further contributed to a decline in demand.

November is also seasonally slow as factories close for the Diwali festival.

Proceeds from the ninth sales cycle fell 6% compared with the equivalent period a year ago, and were down 9% versus the $482 million it garnered in October, De Beers reported Tuesday.

“As the industry’s focus turns towards the key end-of-year retail selling season, rough-diamond sales continued to be in line with expectation during the ninth cycle of the year,” said De Beers CEO Bruce Cleaver.

“While demand for smaller, lower-quality rough diamonds continues to see some challenges, the latest cycle saw some signs of improvement in this area as factories in India begin to reopen after Diwali.”

Rough-diamond sales came to $4.85 billion for the first nine cycles of the year, in line with a year ago, according to Rapaport calculations. The company offers its rough goods at 10 sales cycles across the year, mainly at sights in Gaborone, Botswana. Its sales figures also include auction proceeds.

Image: A De Beers sightholder examines a parcel of rough diamonds. (Kieran Doherty/De Beers)

Source: Diamonds.net

Mumbai Exchange Mulls Lifting Synthetics Ban

Mumbai’s Bharat Diamond Bourse (BDB) is considering allowing synthetic-diamond trading on the exchange premises, its president told Rapaport News.

Some members have asked management to reconsider its 2015 ban on selling lab-grown diamonds anywhere in the BDB’s vast office complex, Anoop Mehta said this week. The bourse will consult with members after the Diwali vacation season, and could call a vote in the first quarter of next year, he added.

“One of the prime reasons [for outlawing lab-grown diamonds] was that detection was a major problem at that time,” Mehta explained. “Detection has come a long way, so we will relook at it.”

Most diamantaires are unlikely to back the change as it would damage their business, according to a trader at a member company, who was not aware that the matter was on the table.

The bourse expects to brief members in informal meetings in December once traders have returned from Diwali, Mehta said. It will also use those events to discuss the issues and ensure voters make an informed decision, he added.

The BDB declared the bourse a “natural-diamond zone” in October 2015, claiming it was the first exchange to do so.

Which exchanges allow trading in laboratory-grown diamonds?

Belgium: Antwerp’s bourses admit companies that trade synthetics, provided that they give full product disclosure.
Dubai: The Dubai Diamond Exchange doesn’t track whether traders are dealing in natural or lab-grown diamonds, but members must comply with its bylaws and make appropriate disclosures.
Hong Kong: The Diamond Federation of Hong Kong, China, does not currently admit lab-grown-diamond companies to its membership.
India: The Bharat Diamond Bourse banned synthetics from the entire complex in 2015, and is now considering requests to change that.
Israel: Members can’t deal in synthetics on the Israel Diamond Exchange trading floor, but the rule doesn’t apply to offices in the bourse building.
US: The Diamond Dealers Club of New York had not confirmed its policy to Rapaport News at press time.
Sources: Bourse and organization spokespeople

Mumbai Exchange Mulls Lifting Synthetics Ban

Mumbai’s Bharat Diamond Bourse (BDB) is considering allowing synthetic-diamond trading on the exchange premises, its president told Rapaport News.

Some members have asked management to reconsider its 2015 ban on selling lab-grown diamonds anywhere in the BDB’s vast office complex, Anoop Mehta said this week. The bourse will consult with members after the Diwali vacation season, and could call a vote in the first quarter of next year, he added.

“One of the prime reasons [for outlawing lab-grown diamonds] was that detection was a major problem at that time,” Mehta explained. “Detection has come a long way, so we will relook at it.”

Most diamantaires are unlikely to back the change as it would damage their business, according to a trader at a member company, who was not aware that the matter was on the table.

The bourse expects to brief members in informal meetings in December once traders have returned from Diwali, Mehta said. It will also use those events to discuss the issues and ensure voters make an informed decision, he added.

The BDB declared the bourse a “natural-diamond zone” in October 2015, claiming it was the first exchange to do so.

Which exchanges allow trading in laboratory-grown diamonds?

Belgium: Antwerp’s bourses admit companies that trade synthetics, provided that they give full product disclosure.
Dubai: The Dubai Diamond Exchange doesn’t track whether traders are dealing in natural or lab-grown diamonds, but members must comply with its bylaws and make appropriate disclosures.
Hong Kong: The Diamond Federation of Hong Kong, China, does not currently admit lab-grown-diamond companies to its membership.
India: The Bharat Diamond Bourse banned synthetics from the entire complex in 2015, and is now considering requests to change that.
Israel: Members can’t deal in synthetics on the Israel Diamond Exchange trading floor, but the rule doesn’t apply to offices in the bourse building.
US: The Diamond Dealers Club of New York had not confirmed its policy to Rapaport News at press time.
Sources: Bourse and organization spokespeople

Marie Antoinette Pendant Sells for $36M

A natural pearl and diamond pendant belonging to Marie Antoinette smashed its price estimate and capped off a record-breaking sale at Sotheby’s Geneva auction.

The jewel went for $36.2 million, beating its presale valuation of $1 million to $2 million, and setting a new auction record for a natural pearl, Sotheby’s said Wednesday.

All jewels on offer at the auction found a buyer, including 10 belonging to the French queen. The entire collection sold for $53.1 million, more than seven times the total presale high estimate of $7 million.

“Tonight we saw the Marie Antoinette factor work its magic,” said Daniela Mascetti, Sotheby’s jewelry chairman for Europe. “No other queen is more famous for her love of jewels, and her personal treasures, pearls and diamonds that survived intact the tumults of history captivated the interest of collectors around the world.”

A monogrammed diamond ring with the initials MA, containing a lock of Marie Antoinette’s hair, garnered $443,786, 50 times its presale estimate of $8,000 to $10,000, while a three-strand pearl necklace went for $2.3 million against its original valuation of $200,000 to $300,000. The French queen’s white and yellow diamond brooch also well exceeded its estimate of $50,000 to $80,000, selling for $2.1 million.

The auction was also the highest-value sale of royal jewels in history, Sotheby’s said. The previous record was set in 1987, when the jewels of the duchess of Windsor, Wallis Simpson, sold for $50.3 million at Sotheby’s.

“More than 30 years ago, I was part of the specialist team entrusted with the landmark sale of the jewels of the duchess of Windsor — a sale that has held a legendary status ever since,” said David Bennett, worldwide chairman of Sotheby’s international jewelry division. “Tonight a new benchmark was established in the sale of royal and noble jewels.”

The sale also included jewels belonging to the Royal Bourbon Parma family, to whom Marie Antoinette sent her jewels for safekeeping before being taken into captivity. Some 90% of those lots sold above their high estimate.

Image: Marie Antoinette’s record-setting natural pearl and diamond pendant. (Sotheby’s)

Source: Diamonds.net

Marie Antoinette Pendant Sells for $36M

A natural pearl and diamond pendant belonging to Marie Antoinette smashed its price estimate and capped off a record-breaking sale at Sotheby’s Geneva auction.

The jewel went for $36.2 million, beating its presale valuation of $1 million to $2 million, and setting a new auction record for a natural pearl, Sotheby’s said Wednesday.

All jewels on offer at the auction found a buyer, including 10 belonging to the French queen. The entire collection sold for $53.1 million, more than seven times the total presale high estimate of $7 million.

“Tonight we saw the Marie Antoinette factor work its magic,” said Daniela Mascetti, Sotheby’s jewelry chairman for Europe. “No other queen is more famous for her love of jewels, and her personal treasures, pearls and diamonds that survived intact the tumults of history captivated the interest of collectors around the world.”

A monogrammed diamond ring with the initials MA, containing a lock of Marie Antoinette’s hair, garnered $443,786, 50 times its presale estimate of $8,000 to $10,000, while a three-strand pearl necklace went for $2.3 million against its original valuation of $200,000 to $300,000. The French queen’s white and yellow diamond brooch also well exceeded its estimate of $50,000 to $80,000, selling for $2.1 million.

The auction was also the highest-value sale of royal jewels in history, Sotheby’s said. The previous record was set in 1987, when the jewels of the duchess of Windsor, Wallis Simpson, sold for $50.3 million at Sotheby’s.

“More than 30 years ago, I was part of the specialist team entrusted with the landmark sale of the jewels of the duchess of Windsor — a sale that has held a legendary status ever since,” said David Bennett, worldwide chairman of Sotheby’s international jewelry division. “Tonight a new benchmark was established in the sale of royal and noble jewels.”

The sale also included jewels belonging to the Royal Bourbon Parma family, to whom Marie Antoinette sent her jewels for safekeeping before being taken into captivity. Some 90% of those lots sold above their high estimate.

Image: Marie Antoinette’s record-setting natural pearl and diamond pendant. (Sotheby’s)

Source: Diamonds.net

19 carat Pink Legacy sets a world record at a Christie’s auction

Renowned jeweller Harry Winston purchased the exceptional pink diamond for more than $50 million USD.

The rectangular cut, 18.96 carat, fancy vivid pink diamond sold for $50.4 million at the Christie’s Magnificent Jewels sale in Geneva.

The diamond previously owned by the Oppenheimer family of South Africa had a presale estimate of $30 million to $50 million. The new owners have renamed the stone the Winston Pink Legacy.

“This exceptional diamond captured the imagination of international collectors across the globe, with over 30,000 people visiting Christie’s sale previews to see this remarkable stone,” said Rahul Kadakia, Christie’s international head of jewelry.

 “It has taken its rightful place among the world’s greatest diamonds.”
Magnificent Jewels auction sold 86% of lots grossing a total of $110.2 million USD.

Source: DCLA 

19 carat Pink Legacy sets a world record at a Christie’s auction

Renowned jeweller Harry Winston purchased the exceptional pink diamond for more than $50 million USD.

The rectangular cut, 18.96 carat, fancy vivid pink diamond sold for $50.4 million at the Christie’s Magnificent Jewels sale in Geneva.

The diamond previously owned by the Oppenheimer family of South Africa had a presale estimate of $30 million to $50 million. The new owners have renamed the stone the Winston Pink Legacy.

“This exceptional diamond captured the imagination of international collectors across the globe, with over 30,000 people visiting Christie’s sale previews to see this remarkable stone,” said Rahul Kadakia, Christie’s international head of jewelry.

 “It has taken its rightful place among the world’s greatest diamonds.”
Magnificent Jewels auction sold 86% of lots grossing a total of $110.2 million USD.

Source: DCLA 

De Beers Cuts Prices of Cheaper Rough

De Beers significantly reduced prices of lower-quality rough diamonds at this week’s sight in response to a slowdown in the Indian manufacturing sector, dealers reported.

Prices fell by high-single-digit percentages versus the previous sale, sightholders told Rapaport News Tuesday. The drops were for rough costing $100 per carat or less, including both small and large stones that produce polished with low color and clarity.

Those segments of the Indian manufacturing market have suffered most from the depreciation of the rupee and tighter bank lending to the trade in recent months. De Beers’ move also reflects the seasonal weakness due to the Diwali festival, when many companies close their factories for two weeks or longer.

“There were a few corrections to align prices with the markets,” a broker said. “It was nothing earth-shattering — what [De Beers] did was sensible given the time of year.” The miner scheduled the drop to ensure manufacturers returned from Diwali to a market with lower rough prices and therefore stronger profit margins, the broker added.
De Beers mostly maintained prices for higher-value rough as demand has been strong for polished that comes from those categories, a sightholder said. Even so, manufacturing profits are tight, he noted.

“Generally things are good, but it’s challenging to make a profit,” the sightholder added. “Because of rough prices this year, it’s been tough to make good money. It’s not about losing money, but there’s less money to be made.”
De Beers is scheduled to release the value of its ninth sales cycle next week. The miner declined to comment Tuesday.

Image: Inspection of De Beers rough diamonds. (De Beers)

Source: DCLA

De Beers Cuts Prices of Cheaper Rough

De Beers significantly reduced prices of lower-quality rough diamonds at this week’s sight in response to a slowdown in the Indian manufacturing sector, dealers reported.

Prices fell by high-single-digit percentages versus the previous sale, sightholders told Rapaport News Tuesday. The drops were for rough costing $100 per carat or less, including both small and large stones that produce polished with low color and clarity.

Those segments of the Indian manufacturing market have suffered most from the depreciation of the rupee and tighter bank lending to the trade in recent months. De Beers’ move also reflects the seasonal weakness due to the Diwali festival, when many companies close their factories for two weeks or longer.

“There were a few corrections to align prices with the markets,” a broker said. “It was nothing earth-shattering — what [De Beers] did was sensible given the time of year.” The miner scheduled the drop to ensure manufacturers returned from Diwali to a market with lower rough prices and therefore stronger profit margins, the broker added.
De Beers mostly maintained prices for higher-value rough as demand has been strong for polished that comes from those categories, a sightholder said. Even so, manufacturing profits are tight, he noted.

“Generally things are good, but it’s challenging to make a profit,” the sightholder added. “Because of rough prices this year, it’s been tough to make good money. It’s not about losing money, but there’s less money to be made.”
De Beers is scheduled to release the value of its ninth sales cycle next week. The miner declined to comment Tuesday.

Image: Inspection of De Beers rough diamonds. (De Beers)

Source: DCLA

8ct. Bulgari Blue Diamond to Lead Christie’s New York

A Bulgari diamond ring will be the top lot at next month’s Christie’s New York auction, with a presale estimate of $13 million to $18 million.

The cushion-cut, 8.08-carat, fancy-vivid-blue piece will go under the hammer at the Magnificent Jewels sale on December 5, the auction house said last week.

The stone is one of a number of colored diamonds on offer, including a heart-shaped, 15.56-carat, fancy-intense-pink diamond-pendant necklace estimated at $9.5 million to $12 million.

Christie’s will also offer a pair of earrings weighing a combined 77.71 carats from the 187.7-carat Diavik Foxfire, North America’s largest known gem-quality rough diamond.

The earrings are valued at $1 million to $3 million, with the buyer getting something extra for the money: a trip to the Diavik diamond mine in Canada’s Northwest Territories, where Rio Tinto unearthed the stone in 2015.

Other notable lots include a 28.70-carat, D-color, VVS2-clarity, type IIa diamond ring from the estate of art collector Lee Vandervelde. Proceeds from the piece, estimated at $1.5 million to $2.5 million, will benefit the Los Angeles-based Children’s Hospital and Children’s Institute.

An Old European-cut, 15.19-carat, D-color, internally flawless diamond ring will also go under the hammer with a presale estimate of $1.5 million to $1.8 million.

An 8.09-carat fancy-vivid-yellow diamond ring by Gillot & Co. will also be up for auction, as will signed pieces from Bulgari, Cartier, Harry Winston, Tiffany & Co., Van Cleef & Arpels, Suzanne Belperron and René Boivin.
The auction house will preview the jewels between November 30 and December 4, ahead of the sale.

Image: The 8.08-carat Bulgari blue diamond ring. (Christie’s)

Source: DCLA

8ct. Bulgari Blue Diamond to Lead Christie’s New York

A Bulgari diamond ring will be the top lot at next month’s Christie’s New York auction, with a presale estimate of $13 million to $18 million.

The cushion-cut, 8.08-carat, fancy-vivid-blue piece will go under the hammer at the Magnificent Jewels sale on December 5, the auction house said last week.

The stone is one of a number of colored diamonds on offer, including a heart-shaped, 15.56-carat, fancy-intense-pink diamond-pendant necklace estimated at $9.5 million to $12 million.

Christie’s will also offer a pair of earrings weighing a combined 77.71 carats from the 187.7-carat Diavik Foxfire, North America’s largest known gem-quality rough diamond.

The earrings are valued at $1 million to $3 million, with the buyer getting something extra for the money: a trip to the Diavik diamond mine in Canada’s Northwest Territories, where Rio Tinto unearthed the stone in 2015.

Other notable lots include a 28.70-carat, D-color, VVS2-clarity, type IIa diamond ring from the estate of art collector Lee Vandervelde. Proceeds from the piece, estimated at $1.5 million to $2.5 million, will benefit the Los Angeles-based Children’s Hospital and Children’s Institute.

An Old European-cut, 15.19-carat, D-color, internally flawless diamond ring will also go under the hammer with a presale estimate of $1.5 million to $1.8 million.

An 8.09-carat fancy-vivid-yellow diamond ring by Gillot & Co. will also be up for auction, as will signed pieces from Bulgari, Cartier, Harry Winston, Tiffany & Co., Van Cleef & Arpels, Suzanne Belperron and René Boivin.
The auction house will preview the jewels between November 30 and December 4, ahead of the sale.

Image: The 8.08-carat Bulgari blue diamond ring. (Christie’s)

Source: DCLA

TFG takes American Swiss jewellery brand to Australia

South African retailer TFG (The Foschini Group) has expanded its American Swiss jewellery brand into Australia in the hope of shaking up the jewellery market there, chief executive Anthony Thunström said on Thursday.

The move aims to show whether TFG’s local brands can thrive in more developed markets than Sub-Saharan Africa where weak economies are seen to be limiting their potential.
“We launched an American Swiss Australia. We just opened our first four stores, we’re planning on opening another two so we’ll have six in total by the end of the year,” Thunström told Reuters after the clothing and homeware retailer reported half-year results.

“The stores are quite a big step forward in relation to other jewellery stores in Australia, it’s a 3.5 billion Australian dollar per annum market and we believe we can shake that up and disrupt it a bit.”

Thunström said the six stores were split between Melbourne, Sydney and Brisbane and will give the group “enough of the critical mass to gauge the reception and over the next six months we’ll see how they trade.”
TFG, which owns 28 brands in 32 countries, started in Australia in 2017 when it bought menswear chain Retail Apparel Group (RAG), boosting TFG Australia’s sales, up 170.7% in Australian dollars for the six-months ended September.

Group turnover grew by 28.6% to R15.9 billion ($1.14 billion), while headline earnings per share (EPS) rose to 506 cents, up from 467.1 cents a year earlier.

Shares closed up 2.67% at R170.95.

TFG has been making more of its brands available online in a market where trading has shifted rapidly from brick and mortar stores to online retail.

With the recent launch of online selling for two additional TFG Africa brands, Donna and The FIX, online turnover through 22 of the group’s 28 brands now contributes 7.9% of group turnover, the company said.
On Wednesday TFG launched e-commerce platform myTFGworld.com, pitting it against rivals such as Naspers’ Takealot.com online retailer and fashion retailer Superbalist.

Thunström said the group will leverage its 13.4 million customers and omni-channel formula to stay ahead of competitors.

“We’ve had a big push with online from the last couple of years but we’ve upped the ante over the last 12 months. We’re spending an increasingly amount of capex and operating expenditure on our online offering,” Thunström said.

Online shopping’s share of total retail sales in South Africa is still hovering around 1%, but barriers to entry, such as a lack of internet access, are being overcome while the convenience of online shopping is drawing more and more customers.

Source: DCLA

TFG takes American Swiss jewellery brand to Australia

South African retailer TFG (The Foschini Group) has expanded its American Swiss jewellery brand into Australia in the hope of shaking up the jewellery market there, chief executive Anthony Thunström said on Thursday.

The move aims to show whether TFG’s local brands can thrive in more developed markets than Sub-Saharan Africa where weak economies are seen to be limiting their potential.
“We launched an American Swiss Australia. We just opened our first four stores, we’re planning on opening another two so we’ll have six in total by the end of the year,” Thunström told Reuters after the clothing and homeware retailer reported half-year results.

“The stores are quite a big step forward in relation to other jewellery stores in Australia, it’s a 3.5 billion Australian dollar per annum market and we believe we can shake that up and disrupt it a bit.”

Thunström said the six stores were split between Melbourne, Sydney and Brisbane and will give the group “enough of the critical mass to gauge the reception and over the next six months we’ll see how they trade.”
TFG, which owns 28 brands in 32 countries, started in Australia in 2017 when it bought menswear chain Retail Apparel Group (RAG), boosting TFG Australia’s sales, up 170.7% in Australian dollars for the six-months ended September.

Group turnover grew by 28.6% to R15.9 billion ($1.14 billion), while headline earnings per share (EPS) rose to 506 cents, up from 467.1 cents a year earlier.

Shares closed up 2.67% at R170.95.

TFG has been making more of its brands available online in a market where trading has shifted rapidly from brick and mortar stores to online retail.

With the recent launch of online selling for two additional TFG Africa brands, Donna and The FIX, online turnover through 22 of the group’s 28 brands now contributes 7.9% of group turnover, the company said.
On Wednesday TFG launched e-commerce platform myTFGworld.com, pitting it against rivals such as Naspers’ Takealot.com online retailer and fashion retailer Superbalist.

Thunström said the group will leverage its 13.4 million customers and omni-channel formula to stay ahead of competitors.

“We’ve had a big push with online from the last couple of years but we’ve upped the ante over the last 12 months. We’re spending an increasingly amount of capex and operating expenditure on our online offering,” Thunström said.

Online shopping’s share of total retail sales in South Africa is still hovering around 1%, but barriers to entry, such as a lack of internet access, are being overcome while the convenience of online shopping is drawing more and more customers.

Source: DCLA

Everything Changes, Some Things Stay the Same

The diamond and jewelry trade tends to be reactive rather than proactive.
That was clear during the recent conference season, with the World Federation of Diamond Bourses (WFDB), the International Diamond Manufacturers Association (IDMA), the World Jewellery Confederation (CIBJO) and the World Diamond Council (WDC) all holding their annual meetings in October.

Much of the discussion, according to reports from the meetings, was centered on how the trade should relate to synthetic diamonds. It’s a difficult question following the recent decision by the Federal Trade Commission (FTC) to expand the definition of “diamond” to include those grown in a laboratory.

How does that apply to invoicing, advertising or grading reports? Having reached equal footing with mined diamonds in the eyes of the FTC, should lab-grown stones be allowed on the bourse trading floors? Of course not. And the trade restated its position that the use of the word “diamond,” without any qualifiers before it, refers to a natural stone by default.

But language isn’t really the issue. Behind the debate lies a deep concern about the growing acceptance of synthetics — both in retail and within the trade. De Beers’ entry into the market has played a significant role in that development, giving others a green light to follow suit.

Forget De Beers’ claim that it is helping differentiate natural from synthetic diamonds through pricing. The company is encouraging demand for a product that will ultimately eat into the natural-diamond market. We’re seeing that already, with more retailers, such as Macy’s and JCPenney, convinced that consumers will “grow in love” with synthetic-diamond jewelry.

The trade’s leadership claims it was blindsided by De Beers and the FTC. But its efforts at this point to engage with the FTC to revoke the decision will ultimately prove to be a case of too little, too late.

Rather, we must recognize that the industry trade groups that met in Mumbai, along with CIBJO, which met in Colombia, failed their constituents. So did the Diamond Producers Association (DPA), of which De Beers holds the current chairmanship.

Why was the natural-diamond-industry lobby ineffective a year ago — if active at all — while synthetics producers were convincing the FTC to include them in its definition? Where is the outrage from DPA members over their chairman actively working against the group’s mandate to promote natural diamonds as real and rare?

The industry’s reactive approach to the synthetics issue signals a need to update its strategy. Perhaps an initiative to combine the roles of the WFDB and IDMA into one organization would bring them new energy and purpose.

For now, the inability to change leadership at these organizations suggests the rest of the trade sees them as ineffective. As the WFDB and IDMA begin another term with the same leadership and a new committee working to spread the WFDB’s influence, we urge trade groups to be more proactive in dealing with the many challenges facing the natural-diamond market.

Source: diamonds.net

Everything Changes, Some Things Stay the Same

The diamond and jewelry trade tends to be reactive rather than proactive.
That was clear during the recent conference season, with the World Federation of Diamond Bourses (WFDB), the International Diamond Manufacturers Association (IDMA), the World Jewellery Confederation (CIBJO) and the World Diamond Council (WDC) all holding their annual meetings in October.

Much of the discussion, according to reports from the meetings, was centered on how the trade should relate to synthetic diamonds. It’s a difficult question following the recent decision by the Federal Trade Commission (FTC) to expand the definition of “diamond” to include those grown in a laboratory.

How does that apply to invoicing, advertising or grading reports? Having reached equal footing with mined diamonds in the eyes of the FTC, should lab-grown stones be allowed on the bourse trading floors? Of course not. And the trade restated its position that the use of the word “diamond,” without any qualifiers before it, refers to a natural stone by default.

But language isn’t really the issue. Behind the debate lies a deep concern about the growing acceptance of synthetics — both in retail and within the trade. De Beers’ entry into the market has played a significant role in that development, giving others a green light to follow suit.

Forget De Beers’ claim that it is helping differentiate natural from synthetic diamonds through pricing. The company is encouraging demand for a product that will ultimately eat into the natural-diamond market. We’re seeing that already, with more retailers, such as Macy’s and JCPenney, convinced that consumers will “grow in love” with synthetic-diamond jewelry.

The trade’s leadership claims it was blindsided by De Beers and the FTC. But its efforts at this point to engage with the FTC to revoke the decision will ultimately prove to be a case of too little, too late.

Rather, we must recognize that the industry trade groups that met in Mumbai, along with CIBJO, which met in Colombia, failed their constituents. So did the Diamond Producers Association (DPA), of which De Beers holds the current chairmanship.

Why was the natural-diamond-industry lobby ineffective a year ago — if active at all — while synthetics producers were convincing the FTC to include them in its definition? Where is the outrage from DPA members over their chairman actively working against the group’s mandate to promote natural diamonds as real and rare?

The industry’s reactive approach to the synthetics issue signals a need to update its strategy. Perhaps an initiative to combine the roles of the WFDB and IDMA into one organization would bring them new energy and purpose.

For now, the inability to change leadership at these organizations suggests the rest of the trade sees them as ineffective. As the WFDB and IDMA begin another term with the same leadership and a new committee working to spread the WFDB’s influence, we urge trade groups to be more proactive in dealing with the many challenges facing the natural-diamond market.

Source: diamonds.net

LUCAPA FINDS NEW ALLUVIAL SOURCE FOR LARGE DIAMONDS

Lucapa Diamond Company has found a new alluvial source of “large and premium value diamonds” at its Lulo diamond mine in Angola, according to press release.

Lucapa said that it has been exploring the extensive flood plains along the 50km stretch of Cacuilo River valley within the Lulo diamond concession, and found that they are host “to exceptional alluvial diamonds”.

The tested area yielded 17 Specials larger than 10 carats, including an exceptional 55 carat Type IIa D colour white. A total of 1,502 carats were recovered so far from 11,155 bulk cubic metres processed.

Lucapa said that it will continue testing “other flood plain areas at Lulo in parallel with alluvial mining activities in established areas”.
Source: DCLA

LUCAPA FINDS NEW ALLUVIAL SOURCE FOR LARGE DIAMONDS

Lucapa Diamond Company has found a new alluvial source of “large and premium value diamonds” at its Lulo diamond mine in Angola, according to press release.

Lucapa said that it has been exploring the extensive flood plains along the 50km stretch of Cacuilo River valley within the Lulo diamond concession, and found that they are host “to exceptional alluvial diamonds”.

The tested area yielded 17 Specials larger than 10 carats, including an exceptional 55 carat Type IIa D colour white. A total of 1,502 carats were recovered so far from 11,155 bulk cubic metres processed.

Lucapa said that it will continue testing “other flood plain areas at Lulo in parallel with alluvial mining activities in established areas”.
Source: DCLA

PRICES OF PINK AND BLUE DIAMONDS RISE IN Q3 2018

The recently published Fancy Color Diamond Index shows that in the third quarter of 2018, prices of fancy color blue and pink diamonds rose by 0.7% and 0.4% respectively in all sizes and saturation levels when compared to Q2 2018. When compared to Q3 2017, the index rose 0.4%; blue prices were up 5.9% and yellow and pink prices down by 1.6% and 0.5%, respectively.

According to the Fancy Color Research Foundation (FCRF), “overall fancy color diamond prices showed no significant change and increased by only 0.1%”. The only decrease was in yellow fancy color diamonds (-1%). The biggest increase was for Fancy vivid blue diamonds, which rose 8.5% in the past 12 months and 1.1% in Q3 2018. In the 1-carat category, prices of pink diamonds remained stable, blue diamonds rose 4.7%, yellow diamonds fell by 2.2%, and intense yellow 1 carat diamond prices rose 1.1%.

FCRF Advisory Board member Eden Rachminov said: “In my opinion, the price of fancy yellow is influenced by the general mood of many diamond traders that carry a mixed inventory of colorless and yellows. Due to the slowdown in the colorless business and to compensate in their general turnover, these traders slightly lower the prices of yellows”.

Source: israelidiamond.co.il

PRICES OF PINK AND BLUE DIAMONDS RISE IN Q3 2018

The recently published Fancy Color Diamond Index shows that in the third quarter of 2018, prices of fancy color blue and pink diamonds rose by 0.7% and 0.4% respectively in all sizes and saturation levels when compared to Q2 2018. When compared to Q3 2017, the index rose 0.4%; blue prices were up 5.9% and yellow and pink prices down by 1.6% and 0.5%, respectively.

According to the Fancy Color Research Foundation (FCRF), “overall fancy color diamond prices showed no significant change and increased by only 0.1%”. The only decrease was in yellow fancy color diamonds (-1%). The biggest increase was for Fancy vivid blue diamonds, which rose 8.5% in the past 12 months and 1.1% in Q3 2018. In the 1-carat category, prices of pink diamonds remained stable, blue diamonds rose 4.7%, yellow diamonds fell by 2.2%, and intense yellow 1 carat diamond prices rose 1.1%.

FCRF Advisory Board member Eden Rachminov said: “In my opinion, the price of fancy yellow is influenced by the general mood of many diamond traders that carry a mixed inventory of colorless and yellows. Due to the slowdown in the colorless business and to compensate in their general turnover, these traders slightly lower the prices of yellows”.

Source: israelidiamond.co.il