Last updateWed, 07 Oct 2015 11pm

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Rapaport "Market Correction" article calls for increased profitability

(NEW YORK) - Martin Rapaport has released a comprehensive editorial entitled “Market Correction” that calls on the diamond trade to end unsustainable business practices. Citing the imbalance between high rough and low polished diamond prices, Rapaport calls on the banks to stop financing unprofitable diamond manufacturing until polished prices rebound and profitability returns. He urges the trade to prioritize the purchase of polished diamonds over rough. Rapaport encourages the industry to promote confidence in diamonds by supporting competition among buyers who provide transparent, firm bid prices.

New Jersey jeweler awards winner of Junior Jeweler contest

Elementary School student has original design created just in time for Mother’s Day

(TOMS RIVER, N.J.) – Toms River, New Jersey-based Corinne Jewelers has announced the winner of their Junior Jeweler competition.

Carly Stopera, a fourth-grade student at North Dover Elementary, won the competition with her drawing depicting a dolphin leaping through sunlit waters. Carly designed the piece for her mother as a special Mother’s Day gift, and it was transformed into a sterling silver heart pendant by the artisans at Corinne Jewelers. Ryan Blumenthal, owner of Corinne Jewelers and head designer, Allyson Berlen, made the announcement at a school assembly May 4th, where he also awarded a Junior Jeweler certificate to every student who entered the competition

Synthetic Diamonds: The Products, the Perceptions, and the Retailers

AGA Las Vegas Conference 2015 - delving deeper in the synthetic diamond trade

As a follow up to last year's highly successful conference, the Accredited Gemologists Association (AGA) has tapped gem industry expert Gary Roskin, GG, FGA, and host of the Roskin Gem News Report, to moderate this half-day program featuring some of the most important industry leaders handling synthetic gem quality diamonds. And speaking of handling, a hands-on, discovery hour provides attendees with the opportunity to handle and become familiar with gem quality synthetic diamonds.

Gems One launches www.MyBridalBells.com dealer iFrame website

Gems One Corporation, a global diamond jewelry manufacturer with offices in New York, Dayton, Hong Kong and Mumbai, has announced the launch of an iFrame website designed to create traffic for their retail dealer network carrying Bridal Bells. According to Anuj Jain, President of Gems One: “As we have increased our focus on marketing support for our customers, we’re using our ability to achieve scale to fund and create tools that our customers simply can’t do themselves. We’re convinced that the investment required to build the www.MyBridalBells.com iFrame is money well spent, for us, as well as for our dealers.”

Rapaport Melee Diamond Index down 4% in 1Q 2015

Rapaport Auctions sells over 135,000cts of polished for $28.9 million in 1Q

(NEW YORK) - The Rapaport Melee Index (RMI™) for small diamonds decreased by 4% to 124.50 during the first quarter of 2015. Year over year the index is down 9.5% from its level of 137.60 in March 2014.

Rapaport reports polished prices declined throughout the first quarter of 2015 as retailers were largely absent from the market and diamond trading remained slow in March. Jewelry retailers refrained from their usual first quarter buying and avoided unnecessary buildup of inventory. Diamond manufacturers significantly reduced their polished production in an effort to diminish their existing polished stock, as overall demand was weak and profit margins remained slim. Furthermore, liquidity continued to be tight due to weak demand, manufacturers’ lack of profitability, and the increased self-financing of rough purchases as banks restrict and reduce credit limits.

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