News of the day
Luxury jeweler Tiffany & Co.'s worldwide net sales increased 4 percent to US$1.2 billion in the fourth quarter, while net earnings rose 1 percent US$180 million.
For the fiscal year ended January 31, 2013, worldwide net sales increased 4 percent to US$3.8 billion, while net earnings declined by 5 percent to US$416 million.
Alrosa's diamond reserves last year increased by around 35.8 million carats, partly as a result of exploration of the Ebelyakh and Gusiny placers, the company's executive committee was told.
Alrosa reported in November last year that it has diamond reserves, proven and probable in Russia, of 630.6 million carats.
Sotheby’s will put 400 lots with a total presale estimate of more than $35 million up for sale at its annual spring Magnificent Jewels auction in New York on April 17.
The highlight of the sale may be an exceptional 74.79-carat, D, VVS1, potentially flawless, Type IIA, pear-shaped diamond with a presale estimate of $9 million to $12 million.
Auction house Christie's will commence its spring auction season with a large selection of diamonds and jewelry at its Magnificent Jewels sale in New York on April 16.
Almost 300 jewels, including high-end colored and colorless diamonds, gemstones, natural pearls and signed vintage creations, will be on sale at the auction.
Israel's net diamond exports in the first three months of this year fell 8.3 percent to US$1.60 billion from US$1.75 billion a year before, according to figures published by the diamond administration of the Economy Ministry.
Net polished imports in the first quarter fell 13 percent to US$962 million from US$1.11 billion in the same period last year.
A visitor to the Crater of Diamonds State Park in Arkansas came away with a 2.10-carat brown diamond on a trip to the park to celebrate to celebrate her 30th birthday.
Imports to Japan of polished goods dropped 24 percent on a year earlier to $53.6 million in February, according Finance Ministry data.
Japan imported more diamonds in carat terms, up 10 percent to 149,219 carats, but the average price dropped 31 percent to $359 per carat.
Japan's polished diamond imports declined by 10 percent to $127.8 million in January-February.
Gaetano Cavalieri, the president of CIBJO, the World Jewellery Confederation, visited the Armenian capital of Yerevan this week, where on Tuesday he was invited to attend the official inauguration celebrations of President Serzh Sargsyan, who recently was elected for a second term in office.
The International Colored Gemstone Association (ICA) has joined the United Nations Research Institute on Crime and Justice (UNICRI) to develop a mechanism to certify and track colored gemstones from their countries of origin. The initiative is being held with the assistance of the Vienna International Justice Institute (VIJI).
De Beers says production at its Venetia diamond mine, the largest in South Africa, should return to normal in the second half of this year, retaining its production at 2012 levels.
Of De Beers' production from South Africa last year of four million carats, three million carats were mined at the Venetia operation.