Last updateWed, 06 Dec 2017 6am

Other News

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.


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.

Stuller wraps up “most exciting” Bench Jeweler Workshop to date


(LAFAYETTE, La.) - Stuller hosted their annual Bench Jeweler Workshop last weekend welcoming more than 200 jewelers from across the country to its global headquarters in Lafayette, Louisiana.

“Workshop has always been a customer favorite. It draws a dynamic, enthusiastic crowd each year,” says Vice President of Merchandising, Tammy Kidder. “Attendees can count on making lifelong friends, learning something new, and having a good time at Workshop. And the Battle of the Benches competition we added this year just gave it an additional layer of excitement.”

Life changing event inspires heartfelt new line

Jackie JuliaTimeless Fine Jewelry launches “My Story”

(NEW YORK) - Timeless Fine Jewelry has just released a brand new jewelry line that is more than a mere conversation piece. My Story began when Chief Marketing Officer of Timeless, Jackie Cohen decided she wanted to have a baby. After years and thousands of dollars spent on attempting to get pregnant without any success, Jackie took the alternative route and applied to be an adoptive mother.

GN Diamond announces increased inventory of GIA certified diamonds

GN Diamond, a Philadelphia-based  direct cutter and manufacturer of diamonds and fine diamond jewelry, has announced they have increased their GIA certified inventory making them one of the strongest GIA vendors in the industry.

“We are humbled to partner with independent jewelers across the country,” said  GN Diamond CEO Asaf Herskovitz. “We listen to over 2000 retailers every day and have made a quick shift and dramatic increase in our inventory of GIA certified diamonds.  We are now one of the top 5 manufacturers in GIA goods from a ½ ct J SI2 to a 5ct D VS1. 

JA announces new and updated Member benefits

(NEW YORK) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, has announced several new and updated benefits to their extensive list of services available to JA Member companies. Designed to help jewelers stay competitive and increase their profitability, the benefits include competitive rates on business loans, web services and worker’s compensation coverage.