IDEX Online

Sharp decline in U.S. rough diamond trade in March

The U.S. imported $36.8 million worth of rough diamonds in March, declining 18.4% from last year. Net imports dropped 87.9% to just $3.1 million, based on the latest data from the department of commerce.

2010: Year of Replenishment, Speculation and Recycling

Any analysis of the 2010 diamond pipeline will need to focus on at least three factors: replenishment throughout the value chain, enormous speculation in rough fuelled by an overabundance of Indian banking credit and – […]

NJN: Mother’s Day Sales Up For Jewelers

Mother’s Day sales improved for many jewelers compared to last year, retailers interviewed by National Jeweler reported.

Sotheby’s Q1 sales rise 23%

Sotheby’s reported a net income of $2.4 million in the first quarter ended March 31. Traditionally the auction house posts a loss in the first quarter, however this year the company benefited from higher auction […]

Helped by strong growth abroad, Blue Nile Q1 sales at record $80m

Blue Nile’s first quarter net sales increased 8.3% to $80.2 million, a record first quarter sales level. Net income totaled $2.4 million, inching up from last year.

GSI opens office in Israel

Gemological Science International (GSI), the third-largest gemological laboratory in the U.S., recently opened a satellite office in Israel. GSI Israel is located in the Diamond Tower, inside the Israel Diamond Exchange compound.

BHP Billiton appoints new president of diamonds unit, announces Ekati expansion

BHP Billiton is moving forward with the Misery open pit project at its Ekati diamond mine in Canada, expecting to start producing ore in late 2015. BHP Billiton has also announced the appointment of Tim […]

De Beers to sell Namaqualand to Trans Hex for $33.5M

De Beers announced that it will sell the Namaqualand diamond mine in South Africa to Trans Hex for 225 million Rand ($33.5 million). The sale joins a number of low producing diamond mines the company has sold in South Africa in the past few years. No details about the transaction were made available, and it’s not clear if this is a cash-only agreement. The timeline of the agreement is not known either, though in the past the approval of the South African government was needed, which may determine the ownership transfer.

Buffett behind Borsheim’s counter, says diamond ring ‘a good investment'

Warren Buffett stood behind the counter of a Borsheim’s jewelry store in Omaha this weekend. The chairman and CEO of Berkshire Hathaway took to the jewelry trenches following the company’s annual shareholder meeting.

Harry Levy appointed president of London Diamond Bourse

The London Diamond Bourse (LDB) has announced the appointment of Harry Levy as LDB president, replacing Freddy Hager who passed away in April. Menachem E. Prager has been appointed vice president.

IDEX Online Research: Polished Prices Rise 1.9% in April, Index Breaks Record

Polished diamond prices rose by about 1.6% during the month of April, according to the IDEX Online Polished Diamond Index. The average price of polished diamonds increased by 1.9% in April compared to March, bringing […]

Tanishq opens large-format outlet in Mumbai

Tanishq opened a large-format jewelry boutique at Andheri in suburban Mumbai on April 29. The 20,000 sq. ft. store was inaugurated by bollywood actor Amitabh Bachchan. Photo from Tanishq.

Charles & Colvard posts Q1 loss as it invests in business initiatives

Charles & Colvard’s first quarter net sales increased 4% to $3 million, the moissanite maker reported Thursday. The increased income did not prevent the company from falling into the red, posting a net loss of […]

Mother’s Day jewelry sales expected at $3 billion

Jewelry will be a popular gift option this Mother’s Day, with 31.2 percent of celebrants planning to buy mothers silver, gold or diamonds, up 19 percent from last year, according to a recent survey. Total […]

28 People Arrested in Diamond-Smuggling Ring Bust

Chinese police said they have shut down a Hong Kong-based diamond-smuggling ring, in three months of arrests and confiscations. Twenty eight people were arrested between January and March and diamonds worth $31 million were confiscated, making it one of the largest busts in diamond history.

Botswana’s diamond exports cool in February

Diamond exports from Botswana totaled $202.2 million (1,367 million pula) in February. Year over year, the exports are a small 0.6% increase in dollar values. Compared to January, exports dropped by 42.9%, based on figures […]

Basel show good for diamonds, but not great

Diamond traders collected goods and left for the Baselworld show with high hopes, fueled by a fantastic Hong Kong show earlier this month. However, as the show closes today, traders are reporting solid sales, but […]