New York: Diamond markets were positive in March after the Hong Kong show demonstrated steady Chinese demand for commercial-quality diamonds. The recent Basel shows signaled robust demand for top-quality large diamonds, fancy colored diamonds and fine-cut fancy shape diamonds.
The RapNet Diamond Index (RAPI™) for 1-carat diamonds increased 0.8 percent during the month, while RAPI for 0.30-carat diamonds grew 3.8 percent and RAPI for 0.50-carat diamonds rose 2 percent. RAPI for 3-carat diamonds increased 1.4 percent. Prices firmed in all categories during the first three months of 2014 and the trade enjoyed its strongest quarter since early 2011.
The De Beers Group of Companies today announced the qualification of five new Sightholders for the remainder of the 2012–2015 Supplier of Choice (SoC) contract period. De Beers’ modified SoC re-planning process, announced in 2011, enables non-Sightholder businesses that have demonstrated sufficient demand through De Beers’ auction sales in 2013 to qualify for Sightholder status and term contract supply (subject to availability).
Sightholder status in the current contract period is subject to De Beers’ forecast rough diamond availability and eligible applicants’ submission of a Contract Proposal Questionnaire (CPQ) as part of the 2014 Intention to Offer (ITO) re-planning process. Each applicant for a SoC contract under the 2014 ITO re-planning process has been subject to the same rigorous and objective selection process as those applicants that applied for supply at the start of the 2012–2015 contract period in 2011. Additionally, all applicants are required to adhere to the De Beers Best Practice Principles, ensuring that Sightholders are “living up to diamonds” by adopting strict ethical standards in their business practices.
Rapaport Auctions will be holding its next single stone polished diamond auction and sale in Israel during the U.S. & International Diamond Week from April 6 to 10. As the leading recycler of diamonds in the world, Rapaport expects to offer over 2,000 diamonds at the sale.
Israel is a very strong supporter of the recycled market due to the expertise of its cutters who optimize the value of recut diamonds. Rapaport is pleased to be coordinating its efforts with the Israel Diamond Exchange and expects the upcoming event to attract hundreds of international buyers. The Rapaport sale will provide unprecedented opportunities for buyers to source a large quantity and wide variety of diamonds at fair market prices.
Forevermark, the diamond brand from the De Beers group of companies, announced a strong year of growth, driven predominantly by continued consumer demand in core markets, China, U.S., India and Japan. Stephen Lussier, Forevermark CEO commented, “The brand has performed exceptionally well in the last year. We are now fully established as a globally recognised brand with presence in over 1,300 retail outlets across 12 major markets.”
Expansion has progressed rapidly since the brand launched in 2008. In the last year alone, the number of stores selling Forevermark diamonds has increased by almost 40%. Forevermark’s licensee program also saw launches in Australia, Brunei, Kuwait and producer country, Namibia in 2013.
The De Beers Group of Companies has made three new appointments to its Executive Committee, adding 75 years of diamond experience. Paul Rowley, Executive Vice President of Global Sightholder Sales, Neil Ventura, Executive Vice President of Auction Sales and Balisi Bonyongo, CEO of Debswana, will join the Executive Committee with immediate effect.
Paul Rowley joined De Beers in 1983 and has filled a variety of senior positions in the organisation. He has served on both the DTC Botswana and Namibia DTC boards and was Acting CEO of DTC Botswana prior to his current role. His earlier experience also includes key account management, rough diamond purchasing in various African diamond producing countries and heading the Global Sightholder Sales Diamond Division.
The Diamond Show is set to bring a sparkling revolution to the Basel jewelry and watch week. Opening its doors on March 27, at Basel’s Markthalle in Viaduktstrasse, the show will provide an opportunity for retailers, jewelers, designers, dealers and watch makers to source their diamonds and diamond jewelry from the best manufacturers around the world.
A large contingent of U.S. diamond manufacturers will be exhibiting top-quality diamonds in a pavilion organized by the Diamond Dealer’s Club of New York. “New York specializes in the finest quality of large diamonds and fancy color diamonds. The Diamond Show will provide international buyers with a great opportunity to access an extensive range of diamonds direct from the source,” said Mordy Rapaport, Director of Rapaport Exhibitions.
The Rapaport Melee Index (RMI™) for small diamonds increased by 4% to 130.54 during the fourth quarter of 2013. Year on year the index is up 3.5% from its level of 126.05 in December 2012.
The diamond market stabilized toward the end of the year after a period of weak demand and price declines in the second and third quarters. Melee diamond prices increased during the last quarter of 2013 as overall trading was boosted by holiday demand in December combined with shortages in supply. Sales during the holiday period exceeded the trade’s low expectations and despite continued consumer caution. Polished trading is expected to improve during the first quarter driven by the Chinese New Year and as U.S. retailers start to replenish sold inventory.
A new exclusive diamond show featuring the best diamonds from the world’s leading diamonds manufacturers and dealers will open in Basel, Switzerland on March 27, 2014. The show will be located in the iconic Markthalle building, only 300 meters from the Basel SBB train station and will be open to the trade, as well as private collectors and investors.
The Diamond Show will provide an innovative trading environment for buyers and sellers of diamonds and diamond jewelry. The exhibition will provide direct access to the finest quality diamonds from 60 of the best diamond manufacturers and dealers in the world. It will also include a specialized salon for natural fancy colored diamonds.
Certified polished diamond prices were stable in November supported by improving demand during the Christmas shopping season. Diamond dealers were focused on supplying U.S. jewelers with strong demand for lower priced commercial quality diamonds as consumers tighten their holiday shopping budgets.
The RapNet Diamond Index (RAPI™) for 1-carat certified diamonds was down 0.1 percent in November. RAPI for 0.30-carat diamonds rose 1.4 percent during the month, while RAPI for 0.50-carat diamonds increased 0.2 percent. RAPI for 3-carat diamonds declined 0.3 percent.
RapLab, a Rapaport Group company, is now offering synthetic diamond detection services to the diamond trade. The service will utilize DiamondSure® and DiamondView® technology developed by De Beers. RapLab will begin providing services in Ramat Gan, Israel and Mumbai, India on December 2. Additional service centers in New York and Surat will be available in the near future.
RapLab will provide testing for individual diamonds as well as implement statistical sampling protocols for parcels of diamonds.
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