02202017Mon
Last updateTue, 14 Feb 2017 4pm

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Retailers, vendors warm up to watch enthusiasts RedBar Group

RB watches in handsSocial media websites give enthusiasts of all wants and desires a place to share common interests. But all the sharing and thumbs-up liking can’t replace good old human interaction. That was the impetus behind the founding of RedBar Group, a watch enthusiast group with chapters in major cities across America, with sister organizations in South America, Europe and Asia.


Choosing the right POS system

 

How many of you remember when cell phones made the leap from transportable handsets to flip phones? Just the other day while standing at the checkout counter of my supermarket, the person in front of me was using a flip phone!

It can be said the old flip phones had better capability of hearing and being heard than the smart devices of today. Yet the flip phones could not multi-task as we have become accustomed to today with e-mail and apps.

The evolution of mobile technology has taken us into another sphere altogether where information can be acquired with just a few taps and details delivered on your mobile device regardless of where you are as long as cellular or WIFI is available. Simply amazing!

Interesting facts about record setting Millennium Jewel 4 blue diamond

rare blue diamond

Last week the De Beers Millennium Jewel 4, a 10.10-carat oval-shaped fancy vivid blue diamond, was auctioned by Sotheby’s at the Hong Kong sale of Magnificent Jewels and Jadeite. Sold for $31.8 million, the Millennium broke the record for the most expensive diamond ever sold in Asia.

CNN has compiled a list of 5 facts about the stone you may not have known.

Jewelers Mutual’s 6 takeaways from JSA's 2015 Annual Crime Report

jsa logo

Criminal activity usually captivates mainstream media outlets for all the wrong reasons. This is especially true when it comes to crimes against the jewelry industry, where extravagant heists and daring robberies seem like something you would see from Hollywood.

Unfortunately, these occurrences are very real and have adverse impacts that last long after they are reported.

At the beginning of each year, the Jewelers Security Alliance analyzes the crimes committed in the U.S from the prior year and, thankfully, there are mostly positive results from the 2015 Annual Crime Report.

JVC CEO/President to step down in 2017

(NEW YORK) - The Jewelers Vigilance Committee (JVC) has announced that Cecilia Gardner, CEO/President and General Counsel, has decided to step down from her role as CEO/President at the beginning of 2017, after the planned celebration of JVC’s 100th year.

Discussions are ongoing with the Executive Committee to determine the scope of a continued role at JVC for Gardner. The JVC Executive Committee is currently conducting a review of JVC’s overall staffing requirements as it looks to secure leadership and management for the future.

De Beers claims greater accuracy, consistency in diamond grading

IIDGR Lab7RAPAPORT... An announcement in February that the International Institute of Diamond Grading and Research (IIDGR) has launched its generic diamond grading program surprised very few, but was noteworthy. Through it, the De Beers Group entered what arguably is the most contentious space in the diamond distribution chain where concerns have grown over grading consistency and standards, or lack thereof, in the past few years. 

Rapaport reports polished diamond prices stable in March

One-Carat RAPI +1.4% in 1Q

(NEW YORK) - Polished diamond prices were stable in March supported by steady dealer trading even though the outlook for consumer demand remains uncertain. In the first quarter, sentiment improved as polished prices rose and profitability increased on select new production. The RapNet Diamond Index for 1-carat, GIA-graded diamonds was flat in March. RAPI for 0.30-carat diamonds fell 0.6 percent and RAPI for 0.50-carat diamonds was unchanged. RAPI for 3-carat diamonds slipped 0.4 percent. In the first quarter, RAPI for 1-carat diamonds rose 1.4 percent, extending the uptrend from the fourth quarter. However, the index fell 4.6 percent below its level last year.

The Rapaport Monthly Report revealed that some new polished production sold better than left-over stock. Prices of desirable RapSpec A2 polished held firm at the March Hong Kong show but prices of old stock softened as dealers looked to replace difficult-to-sell inventory. The diamond pavilion at the show was busy but the jewelry section was quiet, reflecting restrained Chinese consumer demand.

RAP

The positive energy among diamond dealers in Hong Kong was replaced by frustration at the Basel show, which demonstrated cautious European luxury demand and weak economic sentiment. Demand was good for rare intense pink and blue diamonds, while big-stone demand was limited to bargains.

A larger volume of polished is expected to enter the market in the coming months given an estimated 20 percent rise in manufacturing levels this year following a decline of 40 percent in the second half of 2015. The number of RapSpec A3 diamonds listed on RapNet - Rapaport’s Diamond Trading Network - increased 30 percent in the first quarter.

Rough demand is expected to soften in the second quarter as polished production has increased ahead of demand. Rough trading slowed in March with De Beers goods in short supply as the company did not hold a sight during the month. ALROSA kept its rough prices unchanged for the sixth consecutive month, while rough sold at auctions softened in March but remains expensive.

Following De Beers price reduction of 7 percent to 10 percent in January, manufacturers’ profitability returned as polished prices improved due to shortages created in the second half of 2015. De Beers rough is in demand as many believe it is currently offering the best value to manufacturers.

The first quarter of 2016 was relatively positive for the diamond trade. However, trading was largely driven by dealers looking to replenish select inventory to fill existing orders. Jewelers and diamond dealers are carefully managing their inventory, while consumer demand is uncertain.

See www.diamonds.net/Prices/RapaportSpecs.aspx for full explanation of Rapaport Diamond Specifications.

The Rapaport Monthly Report can be purchased at store.rapaport.com/monthly-report.

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