Alrosa Sales Drop Due to Early Diwali

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RAPAPORT… Alrosa’s sales fell sharply in September as Indian cutting
factories closed ahead of the Diwali festival, the miner said last week.

Total rough- and polished-diamond sales dropped 32% year on year to $309.7 million, based
on a comparison with figures Alrosa reported for September last year.
September sales this year were 20% higher than the previous month.

Rough-diamond re…

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Contemporary Ring Designs Lead Bonhams Sale

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RAPAPORT… Diamond
rings by contemporary designers Cindy Chao and Stephen Webster will headline
the Bonhams Rare Jewels & Jadeite Sale in Hong Kong on November 26.

The top lot
is a dress ring by Chao featuring an oval-cut, 4.23-carat, fancy
pink-purple diamond, estimated at $1 million (HKD 8 million) to $1.3 million (HKD 10 million). The diamond is wrapped
within a ribbon-design…

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Rapaport to Auction Historic Sierra Leone 709ct. Peace Diamond

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RAPAPORT PRESS RELEASE, October 15, 2017, New York… The Government
of Sierra Leone is pleased to announce the appointment of the Rapaport Group as
the marketing and sales agent of the Peace Diamond. This 709-carat diamond,
discovered by diamond diggers in the village of Koryardu, is the third-largest
diamond ever found in Sierra Leone and the 14th-largest worldwide. The Peace
Diamond is speci…

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LVMH Sees Strong Jewelry and Watch Growth

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RAPAPORT… LVMH Moët Hennessy Louis Vuitton’s revenue from jewelry and watches increased 8% year on year to $1.12 billion (EUR 951 million) in the third quarter. Overall group revenue jumped 14% to $12.26 billion (EUR 10.38 billion) during the period, the luxury-product company reported Tuesday.The company noted a “remarkable performance” at Bulgari thanks in particular to the rapid growth of its…

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De Beers to Verify Diamond Investment Product

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RAPAPORT… De Beers has partnered with the Singapore Diamond Mint Company (SDM) to provide verification services that confirm the natural origins of diamonds being used for a new investment-grade product.Under the agreement, the International Institute of Diamond Grading & Research (IIDGR), a subsidiary of De Beers, will inscribe a unique identification number on the tables of each diamond us…

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Royal Asscher to Open Flagship Tokyo Store

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RAPAPORT… Royal Asscher, renowned for cutting some of the world’s most celebrated diamonds, plans to open its largest, flagship store in the Ginza district of Tokyo in late November, the jeweler announced.The new two-story branch will feature the diamond store’s current and traditional bridaI collections, and a VIP and high jewelry fIoor, the company said.As well as its retail offerings, th…

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Alrosa Mulls Next Step for Mir Mine

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RAPAPORT… Alrosa is considering its options for the Mir mine, where operations were suspended in August due to a flood that claimed eight lives. The company has engaged with independent auditors to investigate the cause of the accident before it embarks on a reconstruction program, a spokesperson told Rapaport News.“No decisions on the reconstruction will be made until we get a complete understa…

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GIA to Launch Educational Program in Japan

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RAPAPORT… The Gemological Institute of America (GIA) is planning to open an educational campus in Tokyo featuring courses in gemstones and diamonds to help strengthen Japan’s industry, the organization announced.“The expansion of our activities with updated educational offerings will help support the dynamic Japanese gem and jewelry industry, and advance GIA’s mission to ensure the public trust …

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Canadian Jewelry Groups Combine

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RAPAPORT… The Canadian Jewellers Association (CJA) has merged with Jewellers Vigilance Canada (JVC), aiming to create a stronger trade body, the groups said last week. The CJA appointed Brian C. Land, a past president of JVC who has extensive senior-management experience in Canadian retail, as its general manager.“We are very excited about our opportunities to make the voice of the jewelry and w…

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Record 37ct. Fancy Intense Pink Diamond Up for Sale

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RAPAPORT… Sotheby’s will auction the Raj Pink diamond next month for an estimated $20 million to $30 million, the company announced Sunday. Weighing 37.30 carats, the diamond is the largest fancy intense pink diamond on record, according to Sotheby’s. It will headline the auction house’s Magnificent Jewels and Noble Jewels sale in Geneva on November 15. “The discovery of any pink diamond is exc…

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