Escolar Documentos
Profissional Documentos
Cultura Documentos
"
-ISO
PM:t\\II\b~J3
S~~
OUR
W~BSIH
NEWS REVIEW
M.I.D. Leads
Israel's Exports
Anglo American
Updates Strategy
De Beers
Revenue Falls
IGDA Launches
1,111-(arat
Diamond Named
JNS Jewelry News Se ..... ice
From left: Michael Steinmetz, [eo Schachter Diamonds; Anna Marlin, G/A; Dave Bonaparte, }A;
David Bouffard, Signet JeweJers; Erik jens, ABN AMRO; John Hall, Signet Jewelers; Cecilia Gardner, Jve
RAPAPORT
MARCH 2016
COVER
36 THE MARKET
FOR SUPERGEMS
Martin R apaport goes one-on-one
with Sotheby's David Bennett to
discuss diamonds and the auction
mystique.
OPED
34 RAPAPORT CALLS FOR
STANDARDIZATION OF
DIAMOND GRADING
TERMINOLOGY
In an open letter to the
Federal Trade Commission,
Martin Rapaport comments on
the proposed FTC Jewelry Guides.
NEWS REVIEW
8 SIGNET ANNOUNCES
NEW STANDARDS
28 M.!.D. LEADS
ISRAEt:S EXPORTS
AWDC Launches New Databa.se;
Zimbabwe Seizes Diamond M ines;
Rapaport Adds Grading Service.
30 ANGLO AMERICAN
UPDATES STRATEGY
D e Beers R evenue Falls; BlueR ock
to Buy Diamond Resources.
32 IGDA LAUNCHES
124
INDUSTRY
18 ROUGH STRONG.
POLISHED STILL SHAKY
Rough demand surged at the start
of2016 as polished inventories were
reduced in the second half of 2015 .
H owever, polished demand
remained sluggish.
RAPAPORT
MARCH 2016
INTERNATIONAL
COLORED GEMSTONE
48 U.S. RETAIL
Election year impact.
50 U.S. WHOLESALE
Market shim to more specialized good~.
122
52 HONG KONG
Chinese New Year period challenging.
54 ISRAEL
Economic, political
impact market.
i.~mes
56 INOlA
Inventory streamlines.
58 RUSSIA
ALROSA 2015 production up,
sales down.
Rapaport Oiaroond Report ~ 0712-350; !S5N: 0746-9829)
is published monthly by Rapaport USA Inc.
60 ANTWERP
Business mixed at Antwerp Fair.
LEGACY
122 BETTER THAN EXPECTEO
While some dealers came to
the annual Miami antique show
with low expectations, they left
cautiously optimistic.
STYLE
124 NOW TRENDING
The recent NY NOW gift show
revealed a shift in design trends.
126 DESIGNER LINES
128 JEWELRY CONNOISSEUR
RETAIL
Rapaport Diamond
Repo~, Inde~,
Index-The Internet
108 RETAILRAP
This month Rapaport Magaz ine asks
retailers, "What are you restocking
after the holidays?"
110 RETAIL 8ULLETIN
112 RETAIL SCOPE
ECONOMICS
74 PARCEL PRICES
77 RAPNET PRICE SHEET
80 TRADE SHEETS
92 ECONOMIC BULLETIN
94 IMPORT EXPORT
DEPARTMENTS
15 LETTER FROM EDITOR
90 ADVERTISER DIRECTORY
96 CALENDAR
98 TAKE NOTE
RAPAPORT
observations
Volume 39 Nu mber 3
iDITORIAL
EDITOR IN CHIEF: Ambe r Michelle
EXECUTIVE EDITOR: Phyllis Schiller
SENIOR EDITOR: Joyce Kauf
SENIOR ANALYST: A~ i Kraw itz
ASSOCIATE EDITOR: Shuan Sim
INTERNATIONAL CORRESPONDENTS:
U 5 RETAIL lara Ewen
HONG KONG: Mary Kavanagh
INDIA: Za inab A Morbiwala
RUSSIA: Svetlana Shelest
BELGIUM: Marc Goldstein
COLORED GEMSTONE: Sheryl Jones
SPECIAL CORRESPONDENT: Ettagale Blauer
DISIGN
PHOTO EDITOR: luciena Kardonsk.y
SENIOR DESIGNER: Irena Sapilak
ASSOCIATE DESIGNER: Ira Cook
DESKTOP PUBLISHING CONSULTANT: Pete Lambusta
MARKnlNG
VP MARKETING: Eileen Farrell
phones, emailing and texting all day, consumers' interests have turn ed to
Eileen Farrell
Tel: 646.572_8560: eileen@diamonds _net
TO CONTACT EDITORIAL
Amber Michel le, Editor in (hief
Tel: 212 535.2283; amber@diamol"ldsl"let
The above editorial, design and marketing services
are provided to Rapaport Magazine by
Diamond Research and Marketing Institure LLC
shopping, help them tell a story. If a man comes into your store looking for
an engagement ring, become part ofthe experience, select rings that he can
post on social media to get input from his friends, ask about the proposal
and provide suggestions for those men who are clueless, be part of what he
is doing.A woman may come into your store to buy a piece ofjewelry a<; a
RAPAPORT
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Road; Suite 100
Las Vegas, Nevada 89119
Tel: 702 893.9400
Fax: 702 ,893 9440
info@Rapaport,com
WWN,Rapaport.com
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Tel: 32 3.232 3300
Fax: 32.3.232.4990
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Ramat Gan 52521,Israel
Tel: 972 3 613 3330
Fax: 972.3.613.3111
israel@Rapaport.com
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Tel: 91 22 6628.6500
Fax: 91.22.6628 ,6555
il"ld ia@Rapaportcom
RAPAPORT INDIA- SURAT
50 1-504 (Wil"lg, DiamOl"ld
World Buildil"lg, Mini Bazaar,
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Varachha Road,
Surat 395 006
Tel: 91 261 254.9583
Fax: 91.261 ,254,9584
il"ld ia@Rapaportcom
RAPAPORT DUBAI
Dubai Diamond Exchal"lge
Level 2, Office D06
Almas Tower,
lumeirah Lake Towers
RAPAPORT HONG KONG PO Box 340600
Un it 2206, Kinwick. (entre Dubai, UAE
32 Hollywood Road
Tel: 971 ,4 ,363 8403
(entral, Hong KOl"lg
Fax: 971 ,4.369 ,7243
Tel: 852 2805.2620
Fax: 852 ,2805 2605
Subscriptions: U.S. $180 per year, Overseas $350 ro
Rapaport Magazine, 133 East Warm Springs,
Las Vegas, Nevada 89119.
Copyright<> 2016 by Rapaport USA. All Rights Reserved.
Reproduction is strictly prohibired, Rapaport Diamond
Reporr-, Rapaport Magazine-, Ind~, Index-The Internet
Diamond Exchange-, Jewelry Connoisseu"', RapNer-,
Rapaporr-, Diamonds.Ner- and JNS are rrademarks of
Martin Rapaport,
reward for herself.Again,help her show the pieces she is comidering through
social media. Ask her questions about when and where she might wear a
piece, find out about her lifestyle, help her create a story about the piece she
Willow
Editor in C hief
Rapaport March 2016 15
-25%
1 2 3 4 5
FEBRUARY 2016
.30el.
10
11
12
.50d
13
14
ld .
15
16
17
18
19
20
21
3d
The Ra pNet Diamond Index (RAPI "") is based on the average asking price in hundred $/ct. of
the 10 bestpriced diamonds, for the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded,
RapSpec-A3 and better), which are offered for sale on RapNet-Ra paport Diamond Trading Network.
.Q
-.;= :-J.-
$6,000
$5,000
en $3,000 -
:::J $2,000 -
~ $4,000 -
r-
$1,000 -
lQ
2013
-
2Q
3Q
4Q
Polished Imports
t-
l- I-
J II
10
2014
20
Polished Exports
- r
.....
$.
- r- r-
30
_
40
10
2015
I-
20
BUILDING CONFIDENCE
$4,000
.2
"
$3,000
if>
=>
t-
$2,000
$1,000
$1$1,000)
- -
I- -
lH
2H
2010
_
:-b.
Ie:!-
'V'
lH
2H
2009
l- I--
lH
2H
2011
Other Sales _
lH
2H
2012
Rough Sales -
lH
2H
2013
lH
2H
2014
Underlying Earnings
lH
2H
2015
~
.2
$7.000
$6.000
$5.000
"
".000
::>
$2.000
if>
$3.000
,.
$1.000
($1.000)
($2,000)
'"
2H
2009
1H
2H
2010
lH
2H
2011
Rough Imports _
lH
2H
2012
Rough Exports -
lH
2H
2013
lH
2H
2014
lH
2H
2015
Based on monthly data published by the Antwerp World Diamond Centre (AWDC).
Council (GJEPC).
De Beers management explained that
rough demand in 2016 will depend
on consumer demand for diamond
jewelry and the resultant levels of
restocking by retailers and, consequently,
the midstream .
At least in the first quarter, manufacturers
required some restocking as evident in the
recent surge in the rough market. However,
while the current polished price levels
reflect shortages in the market rather than
a rise in demand, there is an overriding
concern among diamond dealers about
how the market will evolve as polished
supply increases in the coming months
while overall demand remains weak .
Rapaport March 2016 21
Margaux Dandie r
28 Rapaport March 20 16
30 Rapaport March 20 16
IGDA LAUNCHES
32 Rapaport March 20 16
OP-ED
RAPAPORT
CALL TO ACTION
COVER
Sotheby's
ICHELlE
the trade uses to describe a particular, very small spectrwn of the red end of the
color scale. So you really need to determine if this is a good pigeon blood.The
only way you can determine ifsomething is good or exceptional is by mentally
comparing it w ith many other top-quality stones you've seen. A laboratory
certificate is not going to do that.
The same is true for colored diamonds . In my experien ce, no blue diamond
is like another one.A blu e diamond can only refer to other blue diamonds. It's
not like any other gemstone. Don't think a blue diamond is going to look like
a sapphire. It's an entirely different and special color and gem.We have to stop
thinking of particular types of colored diamonds, particularly blue, pink, as a
category of gemstones - they're individuals.
Beau Saney
38 Rapaport March 20 16
MR: D o the auction /tOl/ses appraise jewelry? Hillen you appraise it, is there any
conflict if interest?
DB: B ecause I've worked so long in the auction business, I have a very high
opinion of the process . Selling at auction is a wonderful process. It b eats
m ost oth er ways of selling things, b ecause fi st of all, it takes the worry out
of it, you 're presenting it to an international audience on a very sophisticated
and open platform.The other thing I like about the auction busin ess is that
the seller and th e auctioneer are on the same side. The simple dynamic is
the more we sell it for, the more conunission we make. It's not like we're
trying to beat people down. In my experience, the least su ccessful auction
examples are w h en people have insisted on very high reserves that we've
counseled against. If I were selling at au ction , I'd put a very low reserve and
let the auction take effect.
e want to
remind people
of the mag ie,
history,
glamour and
luxury of these
wonderful
treasures.
- David Bennett
0/ tlte
'lhajaa/
SINCE 1835
608 Fifth Avenue New York , NY 10020 212-541 -7202 800-525-3250
www.thedeyoungcollection.com
COVER
[0
NICHE JEWELERS
Yet it's not all doom and gloom. Some
jewelers seem to be more resistant to the
challenging retail environment.These tend
to be niche operators who offera customized
service,such a~ Ryder Diamond~, a bespoke,
appoinmlent-only firm that specializes in
tailor-made wedding and engagement ring;
from design through production. "Most of
our clients come to us for an emotional
reason, such as to buy an engagement ring
or jewelry to celebrate another special
occasion,so our business ha.~n't been affected
so much by the economic climate," said
company founder, Sally Ryder, whose
clients are predominantly expatr iates in
Hong Kong and overseas. The wedding
market is still robust according to Ryder,
who is expanding her business. "We've
seen consistent growth. One trend I've
noticed is that we are selling larger and
more expensive stones," she added, which,
she said, might have something to do ,'lith
FORGING PARTNERSHIPS
R ecognizing the difficult market, the
IDE used the International Diamond
Week as a platform to announce new
opportunities for the trade. T he IDE signed
a memorandum of lUlderstanding (MOll)
with the Istanbul ChamberofJewelry (TKO),
with th e aim of increasing commercial
CLOSER TO CONSUMERS
The goal of raising consumer demand
came under the spotlight during an
Int erna t ional Diamond Week panel
dis c ussion on marke ting di amonds,
which featured Jea n- Marc Liebe rherr,
the newly appointed chief exec utive
officer (CEO) of the Diamond Producers
Association (DPA), Alex Popov, chairman
of the World Diamond Mark Foundation,
Patricia Syvrud, executive director of the
World Diamond Council (WD C), and
jewelry d<.-'Signer Stephen Webster.
Inventory Streamlines
BY ZAINAB MORBrvYAlA
BALANCE
Spcakingexch<;ivclywith Rnpaport ~I!c,
Pravcenshankar Pandya, chairman,
Gem & Jewellery Export Promotion
Council (CJEPc), explaincd,"T hc month
of February was just right in terms of
COUNCIL INITIATIVES
I n a r ecent press statement, the
Gem & J ew e llery Skill Council of
India (GJ SCI), announced it had signed
a m e morandum of understanding
(MOV) with the Maharash tra State
Skill D evel opm e nt Society (MSSDS)
to explore a collaboration for increasing
employment potential in Maharashtra by
developing a supply of skilled manpower.
The MOV also states that MSSDS, along
with GJSC I, would undertake the training
of 12,000 young girls from remote areas
starting in the next two years. Furthermore,
additional training and improvement in
the working conditions of th e artisans
in the gem and jewelry sector will be
routed through GJSCLThis move is aimed
at strengthening the polishing industry a.~
well as the jewelry industry and expanding
the existing workforce.
In February, the GJEPC presented two
shows: the ninth edition of the Signature
India International Jewellery Show (I1JS)
and the third edi tion of India G em &
Jewellery Machinery Expo (IGJME). Both
shows m et with a renewed and positive
response this year, with visitors at IIJS aho
including many mom-and-pop jewelry
stores in Ind ia. IlJ S saw a 10 pe rce nt
increase in preregistration as compared to
2015; the number of overseas visitors rose
by 20 percent. Speaking at the inauguration
of " JS, Pandya shared that the council
plans to integrate the small and medium
ONLINE SELLING
Th e ecommerce boom in India is
making players from rhe gem and jewelry
industry pay heed to th e changing
dynamics of shopping in India, which is
applicable to jewelry as well. D edicated
portals like Jewel Hu b, Carat Lane,
Blu e Stone, among other s, are luring
custome rs with offers and discounts on
diamond jewelry. R ecently, one of the
o ldest names in j ewelry, Tribhovandas
Bhimji Zaveri (TBZ), also join ed the
bandwagon w ith an online presence. T he
jewelry is currently selling through two
portaL~ , Snapdeal and Flipkart.
At the Hong Kong International Jewellery
Show this month , Kapu Gems launched
a new w ebsite and mobile application.
Bt"Sides facilitating the buying of certified
diamond~, tile high-definition video feature
will enable buyers to have an accurate view
of the items they would want to purchase.
According to the company spokesperson,
" A new thoroughly detailed matched pair
section will address the retailers' universal
challenge of making the right matche d
pair of diamonds."
Visit us ot:
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THE UPSIDE
On the upside. all visitors and buyers
concurred that coming to Antwerp
for this show is an opportunity to meet
THE DOWNSIDE
On the flip side of the coin, it turned
out that the exhibitors were globally
still displeased by the poor quality of the
visitors and buyers. Bazzy noted," A lot of
the buyers appeared to be active in the
semiprecious business . Those who are
here to really do business in diamonds
can be counted on the fingers of one
hand." A major diamond manufacturer
and exhibitor, who preferred to remain
anonymous, explained, "T he show was
okay, but the quality of the buyers should
be drastically improved. Small jewelers
came here who were not at all interested
in buying diamonds. T hey just came
and enj oyed a three- day holiday tour
of B elgium offered by us. Such buyers
are not effective enough for susta ining
our diamond company. Therefore, while
we had a full booth over the past three
shows, thi~ time we decided to share one.
I don't know w hether we'll come next
year, and many of my colleagues are facing
the same question . Not to mention that
during the whole of day one, workers were
completing several technical aspects of
the booth~' hardware, drilling and sawing
all day long."
Eitan R epin,ofOnyx DiamondsEurope,
agreed: " T he show was too expensive
for the poor qu ality of the buyers."
Tony H addad of Paris-based Diamprest
also concur red, noting, "Most peop le
were not here to buy. T hey were tourists,
so we had to sort through them to identify
the buyers." T he cherry on the cake was
undoubtedly the comment of a diamond
manufacturer, who explained off the
record that one of the visitors didn't even
know how to hold his loupe.
Looking for ways to improve the
situation, Bazzy suggested, " I strongly
believe we can have a much better show
here if we manage to move the whole
Basel diamond pavilion here to Antwerp.
But it'll have to be done by people who
are much more rooted in the trade and
Po lished :
20-poin t ers t o 1. S-carat roun ds in
com mercia l goods - D-H, VS-SI - are
going up in price by 3 percent to
S perce nt d ue t o sho rtages in productio n
over t he past six months.
Difficult t o move 3D-pointers and
40-pointers, VS, SI, H and up.
. 2- caraters t o 3-carate rs are the w eakest
part of t he larg er-size segment.
Shortages seen for f ancy shape s: princess
cuts fro m 5 po ints t o 70 points, W S-SI
and emerald sha pes from 1S poin ts to
70 points.
Rough:
Ro ug h prices are hot again: 10 percent
to 15 percent an d up, across t he board
fro m t he chea pest to t he m ost expensive
big st on es.
1_00-1_49
14.575/ 20.839
-47/-24%
ECONOMICbulletin
u.s. Imports Slide
u.s. polished diamond imports for 2015 lowered 4 percent year on year to $23.1 billion. Po lished diamond
imports for December declined 12.7 percent to $1.63 billion.By voltune, poli~hed diamond imports for 2015
and December fellS percent and 3 percent to 11.1 million carats and 793,776 carats respectively.
~27,L
Polished diamond exports for 2015 and December dipped 12 percent and 9 percent to
/
$18.32 billion and $1.26 billion respectively. By volume, polished diamond exports
for 2015 and December lost 14 percent and 9 percent to 11.9 million carats and
763,015 carats respectively.
Rough diamond imports plununeted 44.2 percent to $306 million for 2015, but Iincreased 26 percent to $29 million for December. By volum e for 2015 and
December, polished diamond import~ grew 1.2 percentto 434,645 carats and
89.2 percent to 42,567 percent respectively.
\
Rough diamond exports for 2015 and December dropped 47.5 percent to
$192 million and 4.8 percent to $20 million respectively. By volume, rough
diamond exports spiraled 56 percent to 264,512 carats and 71.5 percent to
16,098 carat~ respectively.
Rough Imports
,-
$8000
'-
"
,;
0
$6000
$4000
Polished Imports
-~
r
L
' 3000
"
$2000
'0
,--
' 4000
1Q
2Q
3Q
4Q
2015
2015
2015
20 15
' 2000
-'"
--""
, '000
$0
Jon
Feb Mar Apr May June July Aug Sep Ocl Nov Dec
2015
___ U.S.
J-"
,
,
Rio Tinto's diamond revenue for 2015 declined 23.5 percent year on year to $698 million and earnings before
interest and tax (EB IT) slipped 7 percent to $293 million. The decrease was attributed to weaker rough diamond
prices, driven by lower demand from India and China, higher rough and polished diamond inventory and lower
trade manufacturing margins .
Diamond production grew 25 percent to 17.4 million carats.
Rio Tinto's output guidance for 2016 increased 21 percent to 21 million carat"_
~~S~~s::;;~ The mining company's new A21 kimberlite pipe at the Diavik mine in Canada is progressing as planned.
fProduction is expected to start in 2018.
!Z:=~~2=~:
Lucara Diamond Corp. reported revenue receding 7.5 percent year on year to
$65.2 million in the fourth quarterthat ended December 31, 2015 and 15.7 percent
to $223.8 million for the full year.The fall in revenue was attributed to a weakening diamond market.
Despite the fall in revenue, Lucara achieved a n et income of$19 million for the quarter - the company had a
net loss of.$16 .8 million in the fourth quarter 2014 .
Net income for the year skyrocketed 70.2 percent year on year to .$77 .8 million .
Polished Exports
.Q
$4000
$3200
$2400
$1600
$800
$0
Jul
2015
2016
__ U.S.
__ Belgium __ Ind ia
Precious Metals
PLATINUM
DATE
GOLD
LONDON PM
PM
SILVER
1/27/16
1/28116
1116.25
1114.00
876.00
883.00
14.3800
13.5800
1/29/16
1111.80
866.00
14.0800
2/1/16
1126.50
867.00
14.3300
212116
1128.50
863 .00
14.2600
2/3/16
1132.00
861 .00
14.4100
2/4/16
1156.35
897.00
14.7400
2/5/16
1150.35
899.00
14.9100
2/8/16
1193.25
913.00
14.9400
2/9/16
1191.00
932.00
15.3400
2110/16
11 90.00
926.00
15.1200
2111 /16
1241.00
948.00
15.6500
2112/16
1239.75
957.00
15.6400
2115/16
1208.20
938.00
15.2600
2116/16
1209.50
933.00
15.3500
2117/16
1210.00
939.00
15.2500
2118116
1210.10
933.00
15. 2500
2119/16
123 1.15
941 .00
15.3700
2122/16
1211.00
922.00
15.0000
,!
8
"
CALENDAR
of events
MARCH 2016
1-5
3-7
5-8
7-12
10-12
10-13
10-13
13-15
13-15
13-15
16-19
17-24
18-20
19-22
APRIL 2016
5
5-9
7-10
8-11
9-11
10
13-16
14-17
17-19
19
20
20-22
23-36
MAY 2016
3-7
7-"
7-11
11-13
15-17
17
18
19-22
2S-29
30-6/2
31
UCHELLE
Preview Dates
Tuesday March 1st & Wednesday, 2nd
Waldorf Astoria, 301 Park Avenue, NY
4th Floor, Herbert Hoover Room
, lam to Spm
Additional New York Preview Dates
Tuesday, March 8th & Wednesday, March 9th
By Appointment Only
For an appointment call: 212-740-7600
Illustrated Catalog Available Online
Address
580 Fifth Avenue, New York, NY 10036
Contact
212-819- 1899
info@josephdumouchelle.com
PALM BEACH
NA PLES
Platinum, Rubyand Diamond L~dy' Necklace and Earring<. Set with 35 unh,m,d Burmese
rubies totaling approx. 42.55a. ALm set with 426 di~mond. towling ~pprox. 26.06a.
lmport~nt 54 .59a N~rur~1 U"he~ted C,ylon S~pphi'" ~nd Di~mond
L~dy:' Nuklace with over 100 c~r~ts of diamond, ~"d AGUGubelin Report
Ruby ~nd Di~mond L~dy' Ring. Ce"rr~1 'me .... 1d cut ruby ~t ~pprox. 1O.36ct., unh'M,d Burmese
19.14c/ He~rt 5h~p, Di~mond L~dy' Ring. GlA report, VSI Po/ential, K Color
7.06c/ Emer~1d Cut Di~mond L~dy' Ring. GIA report, F Color, S1114kt Y,lIow Gold ~nd
7./5a S~pphire ~nd Di~mond L~dys Ring, Centrol S~pphi'" ~ / ~pprox. 27.00ct
He
replaces J ean-Ma rc Lieberherr, who was rece ntly
managing director of R io T into's diam o nd division.
Lussier, who is also executive vice president of marketing
at De Beers, moved up from his role as vice chairman of
the DPA . Ji m Pou nds, executive vice president at
Do m inion Diamo nd Corporation, will m ove toto
Lussier's previous position.
for 2016.
AhmedbinSulayem,executivechainnanDubaiMultiCommodities
E li Izhakoff, chairman of WJ H,
presented the membership when bin Sulayem visited the
country as a guest of the trading center in Panama.
{WJH} in Panama City.
::G~';,",::,,'.";;:';'!'~'~':~=':':::::~
DoOtto
17a~
_I'n:ln.
/III ........, :
-.,
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RETAIL PROFILE
Erica Courtney
DESIGNERS AS MENTORS
"We specialize in many one-of-a-kind
pieces," notes Bill, who has three top criteria for
selecting designers. " I really have to be inspired by the
design, excited about the way the piece is made and it has
to be exclusive to us." In addition to having long-standing
perso nal relationships with the design ers, Bill credits
them as his mentors when he was starting out, especially
H enry Dunay. "They guided me and helped me along
the way from the beginning.You get spoiled when you
have the best of th e b est." Top-selling designers include
Erica Courrney, Kwiat, Alex Sepkus, Pamela Froman and
Paul Morelli.
"We love color," says Bill, citing garnet, rubellite and
tourmaline as customer favorites, adding that opals in
designer pieces do very well in the store."We're definitely
a ring sto re," says Elizabeth, followed by earrings and
bracelets. However, the ring categor y is disrinct from
their bridal business, which she describes as "building."
Bridal best sellers are Simon G. and H enri Daussi, with
the average srone size ranging between 1 carat and 2 carats.
EASY BROWSING
With its cream-colored walls, picture windows and
designared sitting areas with couches and armchairs , the
store reflects Bill and Elizabeth's desire to create a warm
and welcomingenvironment."People spend hours in the
store - even lithey do not buy anything," says Bill, who
notes they are welcome to read a paper, enjoy cookies
and coffee or later in the day sip wine and Champagne.
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Konstantino
:!j..:,
2124116
1128116
%CHANGE
Blue Nile
26.28
33.38
-21%
Signet Group
97.07
113.98
-15%
COMPANY
64.22
61.02
5%
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F
M
2005
J
2016
OowJones lndex -
Rap Jewelrylndex
lII-
2011 1.65 2.27 2.01 2.23 2.67 2.11 2.02 2.22 2.12 2.04 2.50 5.72
2012 1.67 2.60 2.05 1.95 2.67 2.14 1.94 2.11 2.04 2.05 2.53 6.03
2013 1.78 2.53 2.13 2.23 2.70 2.12 2.00 2.14 2.01 2.23 2.67 5.77
2014 tag 2.61 2.14 2.211 2.63 2.16 2.13 2.22 2.03 2.16 2.51 5.56
2D15 1.77 2.47 2.03 2.22 2.77 2.28 2.19 2.22 2.02 2.13 2.57 5.89
Total Year Year-to Date % Change
2011
2012
2013
2014
2015
19.56
29.78
23.84
23.75
1%
30.31
24.54
3%
30.52
30.53
24.96
30.53
3%
0%
0%
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JFMAMJJASOND
B K Jewellery
www.bkjewelry.com lE)
THE
D ESTIN ATIO N
TO D ISCOV ER
W H AT' S N EW A ND
W H AT' S N EXT I N
THE FINE J EW E L RY
MARK ET
REGISTRATION IS OPEN
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I JCKONLINE.COM/LASVEGAS
@JCKLASVEGAS
COLORED GEMSTONE
1-carat to 3-carat rangeThese are more sellable than large for the unusual or odd stoneThe demand for these types
unheated or treated sapphires,mbies and emeralds." Hucker of stones is growing, along with an increase in prices
says the lack ofsales in these categories ~ emeralds, rubies for them . Keswani says, " In the colored stone world ,
and unheated sapphires ~ was due to " price resistance the gemstone shows in Tucson are kn own for a great
to those items." As many in the
selecti on of all the weird odditi es
industry know, prices for
but nothing was cheap
this yea r. These item s
unheated ruby, sapphire
and emerald have been
were commanding
on a meteoric rise over
serious prices and real
competition among
the past couple ofyears,
so buyers were playing
exhibitors." Keswani
it safe purcha sing
sees this as go in g
stones they knew
from a trend to a
they could sell easily.
bifurcation in the
Keswani says, "The
indu stry. "Th ere is
US. is a strong market
a hu ge mark e t
developing for all
for 2-carat to 5-carat
sapphires but to sell
the unusual t h ings
a 5-carat to 7-carat
that all the designers
ston e that is $10,000
are using, including
to $15,000 per carat
natura l and icy
at Tucson is tough. This
~ opaque and gray ~
event is much stronger across
diamonds. " It used t o be that
the conunercial band generally
Tsavorite . Photo by leff5covil for Bridges Tsavorite .
there were one or two people
speaking, and most buyers this year were in the mood to at these shows servicing these niches and that is no
buy cautiously."
longer true; it is not a one-off esoteric purchase. That
This seemed to be the case with other fine gemstones part of the market is grow ing and it is no longer a
as well.Bridges says stones in the 4-carat to 6-carat range, single-digit market share," notes Keswani .And this new
his "bread-and-butter"sizes,did really well. H e was happy market extends beyond th e U.S. Keswani goes on to
with the show because he exhibited with a filll production observe that her clients from Colombia and Uruguay
of hundreds of calibrated goods and in sizes of8x6nun, are buying opaque and icy diamonds for markets in
7x5nml and 6x4null and those sizes yielded strong sales. South America that were not traditionally known for
Bridges went on to say buyers were not buying the big using these diamonds. The creativity that American
"wow" at the show.Those who were interested in larger designers are exhibiting using nontradition al ston es
sizes followed up after the show to close the deals. Other and m etals is having a ripple effect in other markets.
Another trend is how new young designers and buyers
exhibitors echoed these observations saying that buyers
were serious, but more price-focused and buying more are finding wholesalers and manuacnrrers. It used to be that
volume, but what amounted to smaller sales.
ifan exhibitor bought a lot ofshow ad~ there was a certain
level of guaranteed visibility. But the internet has leveled
the playing field. Now a younger group of20-year-old to
TRENDS
In 2015, Romanenko says, "Everyone was looking 40-year-old buyers are looking for new vendors based on
for morganite. This year, I didn't see as much." Hucker the firm's presence on social media. Keswani said several
offered an explanation that the Pantone color for 2014 new buyers found her through Imtagram. Th ey were
was radiant orchid and its popularity carried over to 2015. familiar with her gemstones and diamond~ and came ready
There was the perception that morganite was the least with a list of goods they wanted to see.
TheTucson gemstone shows continu e to be inlportant
expemive stone closest to that hue. The 2016 Pantone
colors are rose quartz and serenity. Some exhibitors have for new and established buyers.As Hucker says, " If you
already seen an increase in demand for rose quartz and see it in Tucson, you have to buy it because you won't
pairing those shades \vith the slightly darker tourmalines see it again at another show." A good buy on a layout of
and rubellites as accent stones.
calibrated stones or the chance to find a unique piece
While Pantone's selection of the color of the year can make a season for buyers, retailers and designers .
may increase the demand for color gemstones in that Gemstone enthusiasts know the only place to find a stone
pal ette range, many new designers and bu yers look with such power is in Tucson .
Rapaport March 2016 121
LEGACY
WHAT SOLD
According to Levy, better goods sold quickly the first
day or two, " mostly among th e dealers," and lower-end
merchandise "sold to buyers there for bargains," but the
middle range is very soft. Agrees Davis, "What was not
selling were the smaller items, lower to mid-range, that
" I think this show was steady, and I expect the market
will be the same over the next year," opines Russak. Davis
points out that the recent stock market dips and the fact
that it is an election year are making people cautious.
"People are buying, but not so much of the over-thetop things ."
Causing some consternation at the show was the fact
that there will be a venue change to the Miami-Dade
County Fair Expo Center next year while the Miami
Beach Convention Center, which normally houses the
show, is renovated. " There was a lot of negativity about
the new venu e," says Davis. "But I'm positive about it.
I think it will be very interesting. Miami is still the big
show for the trade and it is a real pulse of the market."
One thing this show made clear, says Cohen, is that
the market is changing. " Prices have changed, in melee,
in big diamonds . Some jewelry that had been bringing a
good dollar is now a little soft." But, Cohen sums up, " I
think going forward, the future of our industry still looks
good.These beautiful j ewels and luxury goods have been
bought, sold and traded for thousands of year. They're
not necessities but they're what keeps life interesting. So
people will indulge and buy, sell or collect them. And
that's what will keep the industry strong." .
Rapaport March 2016 123
STYLE
ICHELlE
TREND TALK
DESIGNERlines
by Amber Michelle
beautiful m ovie star, a tal ented design er, fabu lous gemstones and a
humanitarian mission all play into the yellow citrine necklace donated to
the Smithsonian National Gem Collection by film actress
Angelina Jolie Pitt. D esigned with 64 graduated bezel-set
cushion-cut citrines set in 1S-karat yellow gold , the
necklace features a 177 .tt -carat pear-shaped citrine
drop. Named th e Jolie Citrine Necklace , the
jewel is on display in the Janet Annenberg
Hall of Geology, Gems and Minerals
of the Smithsonian National Museum
of Natural History in Washington, D. C.
It "vill be on display indefinitely.
The necklace is from the Style ofJolie
jewelry collection, a collaboration between
Jolie Pitt and Amer ican j ewelry designer
Robert Procop. Th e collection was
d evelo ped by Jolie Pitt to promote edu ca tion
and es tablish sc ho ols in nati o n s affected b y
conflict. Proceeds from the sale ofjewelry from the
Style ofJolie collection are donated to the Education
Partnership for Children in Conflict, w hich builds
sch ools for children around the world. Th e first sch ools
were built in Mghanistan . " Robert and I are honored to have
this great institution feature on e of our jeweled creations," says
Jolie Pitt."As the Smithsonian has edu cated so many of us, thisj ewel
is a symbol of o ur efforts to help educate underprivileged children in
conflict areas of the world ."
This is the first piece of dtrin e j ewelry in the National Gem collection.
C itrine is a variety of quartz composed o f silicon and oxygen. It gets its color
fro m traces of iron and ranges in shades from golden yellow to orange. The name
dtr ine com es fro m the French word dtrO tl , which m eans lemon, and references th e
yellow color of the stone. "We are thrilled to receive this important piece for the
Smithsonian ," conm1ents Jeffrey Post, curator of the National Gem Collection.
" It is the first piece of citrine j ewelry in the collection. The fact that it was
personally designed by AngelinaJolie Pitt and Robert Procop makes it all the
m ore significant."
The JanetAnnenberg Hall of Geology, Gems and Minerals is one ofthe most
visited exhibitions at the Smithsonian and is home to the Hope Diamond.
" I am honored and also humbled to have our d trine necklace placed among
the great jewels of the permanent collection of the Smithsonian Institution;'
concludes designer Procop. " From one endeavor, Angelina's creative vision
draws two equally impressive outcomes: to transform the finest gems into works
of art and ultimately to improve the lives of many that are in need." "
126 Rapaport March2016
You won't need luck to find the large diamond you're lookingfor!
MEMO