Weekly Digest: Spectacular fancy colours, Russian experiments and highs from Hong Kong
Following a busy week of news from the international diamond and diamond jewellery industries, CARAT+ reporter, David Brough, rounds-up the biggest headline stories, including diamond trials in Russia, positive sales in Hong Kong, steps forward for HRD Antwerp and stable polished prices.
Polished diamond market stable in March
There were relatively few price changes in March, with an equal mix of risers and decliners, IDEX Online reported.
There were a particularly small number of changes in categories under 0.50-0.69 carats, while diamonds in the 2.00-2.99 carat, 4.00-4.99 carat and 5.00-5.99 carat categories saw more risers than decliners, it said.
Fancy diamonds also saw relatively few price changes, particularly in the smallest categories of under 0.45-0.49 carats, and larger diamonds of 4.00-4.99 carats and 5.00-5.99 carats.
Diamonds weighing from 0.50-0.69 carats to 2.00-2.99 carats saw a clear downward trend, IDEX Online said.
Sotheby’s New York to sell 33.25 ct. diamond necklace
Sotheby’s Magnificent Jewels and Fine Jewels sales in New York on April 18 and 19 will feature a 33.25-carat, D-flawless diamond pendant necklace with an estimate of $4-5 million, the auction house said.
The diamond pendant necklace to be sold by Sotheby’s (Lot 67), featuring a 33.25 carat pear-shaped diamonds and a 1 carat marquise diamond. Image Credit: Sotheby’s.
A 7.01-carat, fancy intense pink, SI2-clarity diamond ring is expected to sell for $4.2-5.2 million, and a ring with an emerald-cut, 7.37-carat, fancy intense orangy-pink, VS1 stone has been valued at $3-5 million.
Lot 48 in the sale will be this emerald-cut, fancy intense orangy-pink diamond of 7.37 carats, set in a ring and accented by two emerald-cut diamonds, near colourless diamonds and pink diamonds. Image Credit: Sotheby’s.
Related News: Ethical jewellery conversation to continue at CARAT+ 2018
Diamond marking experiment to be held in Russia
Russia’s government has issued a decree to carry out an experiment on marking certain types of precious metals and stones, including rough and polished diamonds, which will be held from June 1 to November 1, 2018, analyst Rough & Polished reported.
The decree was signed in March by Russian Prime Minster Dmitry Medvedev.
The experiment will be carried out to assess the effectiveness of marking precious metals, precious stones and goods containing them by legal entities and individual entrepreneurs to control their turnover, confirm their authenticity and legal origin, Rough & Polished said.
Hong Kong jewellery sales rise on jobs, tourism growth
Sales of jewellery and other luxury goods rose in the first two months of the year in Hong Kong driven by higher visitor arrivals and growth in jobs, the Census and Statistics Department said.
The sale of luxury goods in Hong Kong rose in the first two months of 2018. Image Credit: Pexels.
Sales of jewellery, watches, clocks and valuable gifts rose 21% to $2.1 billion (HKD 16.1 billion) in January and February, it said in a statement on April 3.
Hong Kong’s total retail sales for January and February, which included Chinese New Year, rose a provisional 16% by value year on year, standing at $11.5 billion (HKD 90.13 billion).
HRD Antwerp opens jewellery grading lab in Mumbai
HRD Antwerp has announced the opening of a jewellery grading lab in the Santacruz Electronics Export Processing Zone (SEEPZ) in Mumbai, established for manufacturers exporting to various international locations.
“Our customers will have safe, reliable and easy access to our services,” said Ravi Chhabria, Managing Director of HRD Antwerp India.
Related News: HRD Antwerp on why lab services have ramped-up in 2018
He added: “The growth potential of the jewellery market is substantial, and we expect to double our activities in a short period of time.”
Related News: CARAT+ welcomes GIA GemFest to 2018 edition
Words by David Brough
Discover more industry news on the CARAT+ website every week.
To secure your entrance pass to the event, please REGISTER TODAY via the website.
CARAT+ is The World’s Premier Diamond Event, covering the full spectrum of the diamond and diamond jewellery trades. The show specialises in four sectors: loose diamonds, branded diamond jewellery, non-branded diamond jewellery and services for the diamond jewellery industry.
Taking place in Hall 1 and Hall 4 of the Antwerp Expo on 6, 7 and 8 May, entry to the show is restricted exclusively to industry professionals, including diamond and jewellery wholesalers and manufacturers from around the world, and jewellery retailers from across Europe and the wider world.