寶啾寶石報報： 阿蓋爾粉鑽要絕礦了嗎？ Industry Analysis Is the Swan Song for Argyle Pink Diamonds Close at Hand?

寶啾寶石報報： 阿蓋爾粉鑽要絕礦了嗎？ Industry Analysis Is the Swan Song for Argyle Pink Diamonds Close at Hand? 

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 The 2.11 ct Argyle Everglow is the largest Fancy red diamond ever sold by Argyle at its tender sales. The Everglow was the cornerstone of Arglye's 2017 Pink Diamond Tender that consisted of 58 stones totaling 49.39 carats. Photo courtesy of Rio Tinto/Argyle

 

 The flow of those distinctive Argyle fancy pink diamonds may end in 2020 if prices of the more commercial stones the mine produces do not improve.

Argyle mined 17.1 million carats of diamonds last year, a 23% increase over 2016. The vast majority of its production comprises lower quality diamonds under 0.15 carats that are used in promotional jewelry – those $299 diamond studded bracelets and pendants, for example. Prices for these have declined slightly in the five years since the mining company completed its estimated $1 billion underground redevelopment.

In planning the redevelopment, the company had targeted 2020 as its closing date. However, in its original plan, Argyle had been scheduled to close in 2002 but rising diamond prices allowed Rio Tinto, its owner, to keep the mine open and, ultimately, redevelop it into an underground operation.

Closing the mine could cause economic difficulty in several cities in India that specialize in cutting Argyle goods and possibly create shortages in the very low end goods that sustain the commercial jewelry market, especially in the U.S.

The mine, however, is famous for the 100 carats or so of the fancy pink, red and other strongly colored diamonds it offers each year. Argyle selects the best of these colored diamonds for its highly publicized tender auctions. While the company does not reveal prices, they often fetch well in excess of $1 million per carat.

Last year's October tender included some of the most spectacular fancy colored diamonds the company has offered since its first sale in 1984: a 2.11 ct Fancy red, which it named the Argyle Everglow; a 1.14 ct Fancy red; a 2.42 ct Fancy purple-pink; a 1.50 ct Fancy deep pink; and a 0.91 ct Fancy deep gray-violet. All were graded by GIA.

De Beers' second cycle (Feb. 29-March 1) sales of $555 million reflects the company's optimistic statements about the market. The total, which includes sight sales and individual sales to clients, is 17% below January's total – traditionally the year's largest – and slightly above its February 2017 sales totals. The company held the line on prices.

De Beers reported that the two largest consumer markets, the U.S. and China, both appeared strong. 

Alrosa, the world's largest producer by volume, nearly equaled De Beers' rough sales in February with an allocation of $533 million, equaling its January sale.

Demand at the recent Hong Kong International Diamond, Gem & Pearl Show was slightly below expectations, because traffic was down from last year, even after a successful New Year's selling season.

Despite the obvious pick-up in consumer demand, banks will certainly continue their tight rein on industry financing in the wake of the nearly $2 billion alleged fraud by Indian retailer Nirav Modi and a related diamond manufacturing and retailing company, Gitanjali. Some of Modi and Gitanjali's issues stem from alleged defrauding of banks and Indian consumers, as well an ongoing investigation that has made international headlines. In addition, the companies are accused of involvement in "roundtripping" practices – exporting and importing the same parcels of diamonds to inflate a company's balance sheet to obtain additional bank credit and better credit terms.

Gitanjali and Nirav Modi deny the accusations and neither company has filed for bankruptcy. Three U.S. affiliates, bridal jewelry manufacturer A. Jaffe, and jewelry manufacturers Firestar Diamond Inc. and Fantasy Inc., have filed Chapter 11 proceedings, but all expect to remain in business.

The banks are already further tightening credit, according to Indian gem dealers. Bidding at the Feb. 26 Gemfields auction of commercial and low-quality emeralds in Jaipur had fewer bidders because the investigations reduced their credit availability, the company said. Gemfields sold $10.8 million worth of emerald rough for an average of $3.08 per carat. The company said the results were satisfactory, despite the diminished bidder base.

寶啾寶石報報：The violet effect 2018年寶石的靛紫色效應

寶啾寶石報報：The violet effect 2018年寶石的靛紫色效應

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With Ultra Violet as the Pantone Color of the Year for 2018, designers are anticipating heightened interest in jewellery pieces adorned with gemstones in rich, violet hues while gem traders are preparing for increased requests for such stones. Demand, however, will also depend on seasonality, the emergence of a new type of consumers and ever-changing buyer preferences, according to industry players.

The colour violet has always been associated with royalty, respect and sophistication. In jewellery, these symbolisms become even more pronounced particularly for consumers who view jewellery as one of the highest forms of self-expression. With the announcement of Ultra Violet as the 2018 Color of the Year by the Pantone Color Institute, the jewellery and gemstone sector is expecting a surge in demand for products that fall under this colour category, according to Clement Sabbagh, president of the International Colored Gemstone Association (ICA).

"We expect steady demand for violet gemstones especially amethyst and tanzanite, which are both readily available in the market," Sabbagh told JNA. "The fashion industry will be showing a great deal of products following the Ultra Violet trend. We expect jewellery designers and manufacturers to do the same."

Amethysts, which come in a range of pale pinkish to deep rich violet and reddish purple, are perhaps the most accessible and affordable among violet gemstones while tanzanite, mined from a single source in Tanzania, Africa, may be harder to source particularly in special sizes.

Tanzanite however is primarily sought after for its vivid blue to violet colour, which commands higher prices. Demand for tanzanite in luscious purple hues are seen to push prices up, noted the ICA official.

Other gemstone options include iolite; purple garnets from Mozambique and most recently from Malawi; purple sapphires, which are easily available in melee, calibrated sizes; and purple spinels with a pinkish hue from Tajikistan.

The purple cuprian (copper-rich) tourmaline from Mozambique is quite visible in the market albeit in smaller quantities while other alternatives include ornamental gems such as charoite, sugilite and pietersite.

"The US was the first to actively buy purple garnets and demand continues to increase. Europe has likewise taken interest in these gems. We also anticipate the strong appetite for tanzanite in dominant purple hues in China and the US to continue. Europe will no doubt follow suit," remarked Sabbagh.

Fashion-forward

Violet gemstones are seen to inspire fresh jewellery collections, according to jewellery designers and manufacturers. Antonio Calvo Garcia, commercial director of Spanish fine jewellery manufacturer Magerit, said violet gemstones are woven into the very fabric of his company's design and production philosophy. In fact, purple is the company's corporate colour.

"Violet conveys energy, originality and creativity. It's the colour that defines us. Majority of our collections include violet and purple gemstone jewellery pieces because they are highly preferred by our target audiences across major markets," Garcia said in a separate interview. "We hope the Ultra Violet trend will further boost existing demand for these gems."

Magerit remains bullish about prospects for violet gemstone jewellery in 2018, adding that the jewellery sector will take cues from the fashion industry.

Bobby Budhrani, director of Hong Kong-based fine jeweller Magia, said the vivid blue-violet hue of Ultra Violet implies "change" as the industry strives to become more dynamic and forward-looking after surviving challenging times.

"Ultra Violet will create a wave of fashion trends in clothes and other products, and this is where jewellers come into the picture. Jewellery manufacturers are expected to produce pieces based on the 'it' colour," noted Budhrani. "We foresee increased demand for pieces with amethysts, purple or lilac sapphires and lavender moonstones."

The company is currently designing pieces following the Ultra Violet motif but "with a certain twist," using amalgamated violet and pink stones.

This trend is expected to last for a season until the next colour of the year is announced, he added.

Millennials

A younger generation of jewellery buyers is also expected to jump on the Ultra Violet bandwagon, jewellery designer Achillea Teng of Singapore-based Caratell said.

Millennials, who represent a more innovative, aesthetically adventurous and trend-savvy customer profile, are likely to follow what's hot in the retail scene, particularly in fashion and jewellery.

"Some customers may want to follow trends while others may opt to stick to their unique personal preferences," noted Teng. "Buyers will also likely consider the jewellery design itself and whether the  gemstone's colour complements their skin tone."

She also noted a possible increase in sales of violet gemstones in the wholesale and retail front. This however may also result in a surge in prices if there is more demand than supply.

Teng described Ultra Violet – a rich combination of blue and red with a higher percentage of blue – as neither warm nor cool but still exuding a calming effect. The colour is also associated with spirituality and connection to the cosmos.

"We will continue to design jewellery pieces using violet gemstones as long as the stone is of high quality and not treated. We take inspiration from the gems," she stated.

"Ultra Violet will create a wave of fashion trends in clothes and other products, and this is where jewellers come into the picture. Jewellery manufacturers are expected to produce pieces based on the 'it' colour." – Bobby Budhrani, Magia

Classic allure

While violet gemstones are projected to attract more attention worldwide, this market development will most likely not be felt by high jewellery manufacturers, according to Gübelin Jewellery.

"We do not expect an impact on high jewellery sales as a result of short-term colour trends. Clients in the luxury business are well-informed about the products they want to buy," revealed Gübelin President Raphael Gübelin.

High-end consumers choose gemstones that are most pleasing to them regardless of colour trends, he added.

"For coloured gemstones, the choice is highly individual and goes deeper than trends. Generally speaking, high jewellery is less influenced by such factors as it has a longer lifespan than fashion or designer jewellery. High jewellery pieces are even handed down from one generation to the next," he noted.

Gübelin Jewellery however offers a variety of coloured gemstone pieces, including those adorned with amethyst, in its Sparks of Fire line. Top-quality violet sapphires are likewise featured in its other  collections, added the company official.

"Violet sapphires are a niche and can be appealing to collectors. Therefore, we also offer them to connoisseurs. In general, we recognise that coloured gemstones are becoming more important over the last few years, especially rubies, sapphires and emeralds," the jeweller said.

Tag: #Coloured Gemstones #Jewellery design #Gemstones

寶啾寶石報報：6-Carat ‘Farnese Blue’ Diamond Could Garner $5.3M 6卡藍鑽售出5300萬美元

寶啾寶石報報：6-Carat 'Farnese Blue' Diamond Could Garner $5.3M  6卡藍鑽售出5300萬美元

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The 6.16-carat pear-shaped "Farnese Blue" diamond will be on the auction block at Sotheby's Geneva on May 15. It has made its way through some of Europe's most important families for the past three centuries.

 March 22, 2018

Geneva--A historic blue diamond that's been in the same family for more than three centuries will hit the market for the first time this spring. 

"The Farnese Blue," a 6.16-carat pear shaped fancy dark gray-blue diamond, will be offered at the Magnificent Jewels and Noble Jewels sale at Sotheby's Geneva on May 15, where it is expected to sell for between $3.7 million and $5.3 million. 

It was uncovered in the Golconda mines of India, which also produced the famous Hope and Wittelsbach diamonds. 

The stone was given to Elisabeth Farnese, Queen of Spain (1692-1766) and descendant of Pope Paul III, following her wedding to King Philip V of Spain, grandson of Louis XIV, King of France.

The wedding was celebrated in Parma, Italy in 1714, after the War of the Spanish Succession, which had depleted the country's finances. To be able to offer a suitable dowry for the new queen, the Spanish government sent word to its colonies, demanding they send wedding presents to Madrid. 

Then, in August 1715, the Golden Fleet sailed from Cuba: 12 ships carrying a fortune in gold bullion and emeralds. But after only 10 days of sailing, a hurricane destroyed most of the fleet in the gulf of Florida. Only one ship survived. 

The emeralds were thought to be lost in one of the sunken ships, but one diamond made its way to Spain: a pear-shaped blue diamond, gifted to the new Spanish queen by the governor of the Philippine Islands.  

For the next 300 hundred years, as Elisabeth and Philip of Spain's descendants married, the stone was passed down through four of the most important royal families in Europe: Spain, France, Italy and Austria. 

Elisabeth Farnese passed it to her favorite son, Philip (1720-1765), Duke of Parma and founder of the House of Bourbon-Parma. When he died, his son Ferdinand inherited the jewel, which then passed to his son, Louis I, made King of Etruria, during Napoleon's invasion of Italy, followed by his grandson, Charles II, who become Duke of Lucca, following the Congress of Vienna in 1815. 

Charles II had a tie-pin setting created for the stone. He abdicated in 1849 and the title of Duke of Parma passed to his son, Charles III, who was assassinated just five years later. The Farnese Blue then was inherited by Charles II's grandson, Robert I (1848-1907), the last ruling Duke of Parma.  

Robert I sought refuge in Austria after the unification of Italy. During his exile, the diamond was mounted on a diadem that had belonged to his mother, Louise Marie Thérèse of Artois. She had inherited the jewel from her aunt and adoptive mother, Marie-Thérèse de France, the first child of Louis XVI and Marie-Antoinette and their only child to survive the French Revolution. It is believed that the diamonds that adorn the diadem belonged to Marie-Antoinette herself. 

After the death of Robert I in 1907, his son Elias of Bourbon, Duke of Parma, inherited both the diadem and the Farnese Blue. 

These jewels even have a written record of their journey, thanks to a detailed inventory of the family jewelry compiled by Maria Anna von Habsburg (1882-1940), Archduchess of Austria.

The Farnese Blue has been kept a secret by the family and family jewelers over the centuries and hidden in a royal casket.

寶啾寶石報報：Tiffany Sees Q4 Comps Rise, Outlines Priorities 帝芬尼去年第四季業績提升

寶啾寶石報報：Tiffany Sees Q4 Comps Rise, Outlines Priorities  

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Tiffany saw same-store sales increase in both the fourth quarter and full year 2017, with fashion and designer jewelry outperforming sales of engagement rings for the New York-based jeweler.

March 16, 2018

New York--Tiffany & Co. reported Friday that its fourth quarter comps increased as its new CEO outlined six priorities for the company going forward, including a focus on omnichannel and store renovations.

In the Americas, Tiffany's same-store fourth quarter sales rose 5 percent (4 percent on a constant-exchange-rate basis) year-over-year while total sales in the period also rose 5 percent (flat on a constant-exchange-rate basis).  

Total net sales were up 5 percent to $619 million in Q4 and rose 2 percent (1 percent on a constant-exchange-rate basis) to $1.9 billion for the full year.

The Americas started 2017 with a decline in sales, but improved as the year progressed, allowing the retailer to finish with a slight increase. Tiffany saw higher spending from local customers in the market, with sales to tourists unchanged year-over-year.

Globally, Tiffany's fourth-quarter comps were up 3 percent (1 percent on a constant-exchange-rate basis) and net sales grew 9 percent (6 percent on a constant-exchange-rate basis) to $1.3 billion. 

For the year, same-store sales were flat on both a reported and a constant-exchange-rate basis. Net global sales were up 4 percent to $4.2 billion, with sales growing in most regions. 

Product-wise, Tiffany said sales of fashion and designer jewelry, its new fragrance, watches and home and accessories were strong. Engagement ring sales were weaker, ending 2017 down when compared with the previous year.  

Tiffany's fourth quarter and full year earnings call held Friday morning—a marathon call that lasted nearly two hours and included Tiffany taking calls from analysts, which the retailer has not done in the past—sounded similar to the one held Wednesday morning by Signet Jewelers.

Both retailers are under new leadership, and both outlined multi-step plans to improve sales that contained like elements: emphasizing omnichannel, improving the in-store experience, fine-tuning the product assortment and making the company more efficient overall. 

The Tiffany brand is healthy, CEO Alessandro Bogliolo, who came on board in October, said Friday, but it also has "a tremendous opportunity to grow." 

Also on the call, Bogliolo shared a few details of the new jewelry line coming soon from Reed Krakoff. It will feature platinum and diamonds—the first for Tiffany in "many years," Bogliolo said—and will be an "addictive" type of product that is "very nice surprise for the market." 

He also mentioned watches, particularly women's watches, as a priority for the retailer going forward.  

Tiffany's store count remained relatively unchanged year-over-year. The retailer said it opened nine new stores in 2017 but closed seven. 

As of Jan. 31, Tiffany had a total of 315 stores worldwide, including 124 in the Americas, one less than it had a year ago. 

In 2018, the retailer said it plans to open nine, at least one in each region worldwide; close two; relocate 15, primarily in the Americas and Asia-Pacific markets; and renovate "many" stores.

The pop-up stores that Tiffany experimented with in the latter half of the year in the United States, Canada and Tokyo are not included in the store count.

寶啾寶石報報： 展會調查指業者普遍看好前景

展會調查指業者普遍看好前景

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2018年03月07日

超過4,550家參展商的香港國際鑽石、寶石及珍珠展及香港國際珠寶展圓滿結束。兩項合共吸引來自全球145個國家及地區，約87,000名買家入 場參觀，按年升2%。主辦方香港貿易發展局表示，展會期間訪問了接近1,300名參展商及買家，約九成半表示預期今年銷售表現持平及上升，顯示更多業界對 前景樂觀。

香港貿易發展局副總裁周啟良表示︰「環球經濟持續好轉，去年香港貴重珠寶的出口有3.6%增長。我們樂見兩展的參展商數目創歷年新高，本地及海外買 家數目更刷新紀錄，足證香港作為環球珠寶業採購平台的重要地位。」他續指，參展商普遍滿意參展成績，而來自日本、緬甸、菲律賓、越南、柬埔寨、伊朗、土耳 其的買家的數字錄得顯著升幅，反映這些國家的市場潛力理想，港商應多加發掘當中的機遇。