Author: Alastair Smith

Diamond prices experienced a notable decline in September, with the market facing challenges from increased competition from synthetic diamonds and a slowdown in retail sales. Despite a decrease in production, there was a mismatch as polished inventories remained high, not aligning with sales expectations RapNet Diamond Index (RAPI™) Insights The RAPI™ for 1-carat diamonds saw a significant drop of 5.2%, marking it as the most challenging month since the Covid-19 downturn peak in March 2020. Other categories also faced declines: 0.30-carat RAPI: Decreased by 3.5% 0.50-carat goods: Slid by 7.1% 3-carat diamonds: Declined by 2.5% The RAPI, which focuses on…

During the recent conference of the Independent Jewelers Organization (IJO) held in Cleveland, OH, Owner and Chairman Jeff Roberts introduced a significant change to the organization’s leadership. Stephen Barnes has been appointed as the new President of IJO. Roberts expressed his meticulous search for the right candidate, stating, “For several years I have met with, interviewed and talked with several candidates for this position I wanted to fill, but no one possessed the qualities I was seeking – until recently.” He further elaborated on Barnes’s qualifications, emphasizing his experience in running a profitable retail jewelry store and his expertise in…

After 108 years of serving the jewelry industry, Modern Jeweler is suspending publication. We’d like to thank all the people who worked hard over the years to make every issue worth reading. We’d also like to thank the retailers and manufacturers who shared their time and expertise with our readers each month. We hope to find a buyer who believes in the future of the jewelry industry as much as we do. But even if we don’t and the August issue of Modern Jeweler is truly the last, we are sure that the jewelry industry’s strong community and generosity of spirit will ensure its…