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Industry News: Diamond Prices Dip; Jewelers’ Charities Get Grants; DEF To Honor Botswana; More November 06, 2013 (0 comments)
Certified Polished Diamond Prices Dip in October
New York, NY—Certified polished diamond prices fell in October, as trading volume did not meet expectations for this time of year, according to the latest figures from Rapaport. The U.S. continues to be the dominant market for polished ahead of the Christmas season, but India’s pre-Diwali demand was weak and Chinese demand soft after the National Day Golden Week (October 1). Trading is selective with steady demand for 0.30-carat to 0.50-carat goods in commercial qualities (H-K, SI-I1).
The RapNet Diamond Index (RAPI) for 1-carat certified diamonds fell 1.7% in October. RAPI for 0.30-carat diamonds rose 0.4% during the month, while RAPI for 0.50-carat diamonds increased 0.2%. RAPI for 3-carat diamonds declined 0.7%.
Rapaport’s October monthly report notes that U.S. retail buyers are delaying inventory purchases for the holiday season amid persistent price uncertainty and diminished consumer confidence stemming from the political stalemate in October over the debt ceiling.
Polished diamond trading is expected to improve before the end of the year influenced by a late surge in U.S. holiday demand and strong, selective competition to source the right “in-demand” goods. Forecasts for the season remain below that of previous years. Read more here.
JFC Awards Grants To Jewelers’ Favorite Local Charities
New York, NY—Jewelers For Children announces the winners of its recent Local Grants program, giving retail jewelers across the country an opportunity to give back to their local community under the auspices of JFC.
JFC set aside $100,000 to be awarded in the form of 10 grants at $10,000 each, to organizations that benefit children. Retail jewelers were encouraged to nominate an organization in their own community, which was then posted on JFC’s Facebook page. Retailers were responsible for driving votes to their chosen organization, via social media or any other form of marketing.
10 winners from among 30 submitted charities were selected last week, with grants to be presented before the end of the year. They are: Carrie Lynn Children's Center, Rockford, IL (Gruno’s Diamonds); Matthew’s Giving Tree Foundation, Sayville, NY (Kay Cameron Jewelers); The Coffee Oasis, Bremerton, WA (Dahlquist’s Fine Jewelry); Youth Enrichment Services, West Islip, NY (Harel Jewelers ); Connor Flanagan Foundation, Boston, MA (Charles Frederick Jewelers); Camp Sunshine, Casco, ME (Day’s Jewelers ); Cystic Fibrosis Foundation Georgia Chapter, Atlanta, GA (J.C. Grant Company); American Family Children’s Hospital, Madison, WI (Goodman’s Jewelers ); Kenny Rogers Children’s Center, Sikeston, MO (Bo’s Jewelry & Pawn Shop ); and Camp Imagine, Avon Lake, OH (Peter & Co. Jewelers).
Former Ring Manufacturer Launches Consulting Group
Norwood, NJ—Ann Schonwetter Arnold, former CEO of wedding ring brand Lieberfarb, announces the creation of Arnold Advisory Group (AAG), a comprehensive consultancy dedicated to helping clients increase their efficiency through financial modeling and analysis, time management and organizational strategies, and best business practices.
Arnold, who holds a CPA, is a 27-year veteran of the fine jewelry industry and is also the CFO of H. Arnold Wood Turning, Inc., a premier supplier of wood products founded in 1919.
Arnold is the former national president of the Women’s Jewelry Association and currently is the association’s vice president of leadership development. She is the vice chair of the Manufacturers Jewelers and Suppliers of America (MJSA), sits on the board of the Jewelers Board of Trade (JBT) and is the treasurer of the 24 Karat Club of The City of New York.
Ann Arnold
Arnold Advisory Group is available for long and short term, project and retainer based consulting services such as strategic financial analysis, inventory analysis, management strategies, and the creation of systems that help achieve business goals and strategies. Email ann@arnoldadvisorygroup.com
DEF To Honor President of Botswana At Las Vegas Gala
New York, NY--Following successful Diamonds in the Sky Gala events in London and Hong Kong, the Diamond Empowerment Fund (DEF) announced Wednesday that its third Diamonds In The Sky Gala will be held in Las Vegas on Thursday, May 29, immediately preceding the JCK Show. The evening will include networking, a live auction, chart-topping music and a special performance to be announced. The black-tie-optional affair will take place in the Four Seasons Ballroom, adjacent to Mandalay Bay.
Presentation of the Diamond Empowerment Fund 2014 Global Diamond Industry Achievement Award will be made to H.E. President Ian Khama and the Government of the Republic of Botswana in recognition of their global leadership and contributions to democracy, sustainable economic development, and the growth and expansion of the international diamond industry.
“On behalf of the Republic of Botswana, we are grateful for this global recognition by the Diamond Empowerment Fund,” said H.E. Tebelelo Seretse, Ambassador of the Republic of Botswana to the United States. DEF president Phyllis Bergman added, “We are thrilled to honor the country of Botswana at Diamonds in the Sky Las Vegas.”
The inaugural Diamonds In The Sky was held November 2010 in London, honoring Nicky Oppenheimer, chairman of the De Beers Group, and Peter Sands, group chief executive of Standard Chartered Bank. Diamonds In The Sky Hong Kong in September 2011 honored Dr. Cheng Yu-tung, chairman of Chow Tai Fook Group and Cynthia Carroll, chief executive of Anglo American plc.
Diamonds In The Sky Las Vegas will bring together a unique mix of the international diamond jewelry industry, government officials from diamond producing nations, dignitaries, and celebrities from fashion and entertainment. The proceeds will benefit DEF’s ‘Diamonds Do Good’ mission of providing higher education scholarships for youth from diamond producing countries. For more information on Diamonds In The Sky Las Vegas, click here.