Namibia Diamond Miners Seek Government Funding as Prices Slump
October 20, 26
Namibia's two main diamond mining companies, the land-based miner Namdeb and offshore operator Debmarine Namibia, have asked the government for financial assistance as falling diamond prices erode revenues. Namdeb Holdings, the holding company... Read More...
US Holiday Sales to Top $1 Trillion, but Jewelry Faces Spending Pressure
October 20, 26US holiday retail sales are forecast to rise 4.2% year on year to $1.013 trillion in November and December, but consumer research points to pressure on jewelry spending. The National Retail Federation (NRF) issued its forecast on October 15, predicting that ... Read More...
Family's $200,000 Attic Jewelry Collection Heads to Auction
October 19, 26More than 200 antique and vintage jewels that were stored in a family's attic for decades are to be sold without reserve at auction in the UK, with a presale estimate of £150,000 ($200,000). The collection, spanning more than 200 years of jewelry design, will be ... Read More...
$3m Patek Philippe Leads "Highest Value Watch Auction in US"
October 19, 26A rare second-series Patek Philippe Reference 2499 in 18-karat pink gold is expected to lead Phillips' New York Watch Auction XV, with an estimate in excess of $3 million. The auction is scheduled for December 5 and 6 and is described as the highest-value ... Read More...
Fantasy Bra With 1,373 Carats of Diamonds Valued at $50m
October 19, 26Jacob & Co. has created a $50 million Fantasy Bra set with 1,373 carats of diamonds and featuring a 75.54-carat fancy vivid yellow centerpiece. It is billed as the most valuable Fantasy Bra ever made and was worn by Kylie Jenner, the American reality ... Read More...
Memo by John Jeffay
October 15Why would anyone invest millions of dollars reopening a diamond mine when other mines are closing, suspending operations or cutting production, when prices are weakening, when demand is under pressure, and when the outlook for the industry is, to say the... Read More...