Author: Steven Joseph

Antwerp’s diamond district is experiencing a sharp increase in trading activity this September, with eight rough diamond auctions scheduled across the month. Four of these are being held simultaneously in the first week alone, drawing more than 1,800 diamantaires from across the globe to bid on 900 parcels of rough stones. According to the Antwerp World Diamond Centre (AWDC), the volume of tenders and number of participants highlight Antwerp’s continued role as a key international hub for rough diamond trade. Infrastructure and Capacity Enabling Concurrent Auctions The auctions are being hosted by Bonas, a long-established Antwerp-based diamond auction house. Bonas…

The World Jewelry Confederation (CIBJO) will consider revisions to its standards on diamond terminology and grading at its 2025 Congress, scheduled to take place in Paris from 27 to 29 October. The proposals, led by Udi Sheintal, President of CIBJO’s Diamond Commission, address terminology for synthetic diamonds, the use of the 4Cs grading system, and increased disclosure around diamond origins. The proposed changes come at a time when the natural diamond sector is facing falling demand, reduced production and growing overlap in how natural and synthetic diamonds are described and marketed. Revisiting Earlier Decisions At the 2010 CIBJO Congress in…

The third edition of Antwerp Jewelry Week (AJW) will take place from 8 to 12 October 2025, featuring over 50 jewellers, designers and students from Belgium and abroad. The event will include exhibitions, talks, workshops and guided tours across various venues in the city, with a focus on both traditional craftsmanship and contemporary design. Programme Highlights and Thematic Focus This year’s theme, Back to Basics, focuses on the historical foundations of jewelry craftsmanship in Antwerp. The programme will include a presentation on Wim Ibens, who established Atelier 35 at the Royal Academy of Fine Arts in Antwerp. The atelier is…

The Gemological Institute of America (GIA) has examined the second largest rough diamond ever recorded, weighing 2,488.32 carats. The examination took place in July 2025 at the GIA laboratory in Gaborone, Botswana. The diamond, recovered by Lucara Diamond Corporation at the Karowe mine in August 2024, was originally 2,492 carats before minor breakage during cleaning and analysis. Known as ‘Motswedi’—meaning ‘water spring’ in Setswana;the stone was named through a public competition in Botswana. It is surpassed in size only by the 3,106-carat Cullinan diamond discovered in 1905 in South Africa. Type IIa with no detectable nitrogen GIA’s analysis confirmed that…

The Gemological Institute of America (GIA) has announced changes to its grading services for D-to-Z laboratory-grown diamonds, effective from 1 October 2025. Current GIA services for these diamonds will remain available until 30 September. New Assessment Structure Under the updated framework, GIA will no longer apply the natural diamond grading system to laboratory-grown diamonds. Instead, stones will be categorised as either ‘Premium’ or ‘Standard’ based on combined evaluations of clarity, colour and cut. Pritesh Patel, GIA president and CEO, stated: “Using descriptive terms for the quality of laboratory-grown diamonds is appropriate as most fall into a very narrow range of…

De Beers Group has published its 2024 sustainability report, highlighting advancements across its four priority areas: climate, livelihoods, nature and provenance.  The update also includes details on new consumer propositions that use blockchain technology to support transparency across the diamond supply chain. Climate Goals and Energy Initiatives De Beers has reduced its Scope 1 and 2 greenhouse gas emissions by 7% compared to its 2021 baseline. The group is working toward near-term targets validated by the Science Based Targets initiative (SBTi), which include reducing absolute Scope 1 and 2 emissions by 42% and Scope 3 emissions by 25% by 2030.…

A 21.25-carat pink diamond worth $25 million was stolen in Dubai during a planned theft involving individuals posing as prospective buyers. The stone, brought to the city by a European trader for a private sale, was recovered within eight hours following a police operation and the arrest of three suspects. Long-term set-up According to Dubai Police, the suspects spent over a year preparing for the theft. They posed as representatives of a wealthy client and arranged multiple meetings with the trader at luxury hotels. To build credibility, they hired an individual to act as a gem expert and inspected the…

Claire’s Holdings LLC has agreed to sell its intellectual property and a number of its North American retail stores to an affiliate of Ames Watson. The announcement forms part of Claire’s wider restructuring efforts under Chapter 11 proceedings in the United States and the Companies’ Creditors Arrangement Act (CCAA) in Canada. The proposed transaction includes the acquisition of Claire’s business operations in North America and remains subject to court approval in both jurisdictions and other standard closing conditions. Impact on Store Closures and Operations Claire’s has paused the liquidation process at a significant number of its North American stores included…

Lucapa Diamond Company, the ASX-listed miner with operations in Angola and Australia, is set to be acquired by Dubai-based Gaston International, a subsidiary of Jemora Group. The proposed A$15 million (US$10 million) deal follows Lucapa’s entry into administration in May. Creditor Approval Sought for Acquisition The administrators, KordaMentha, have signed a deed of company arrangement with Gaston International. The plan includes full repayment of creditors and a partial return to shareholders. It remains subject to creditor and court approval, with a vote scheduled for 20 August. Lucapa entered administration following a downturn in natural diamond prices, increased competition from laboratory-grown…

Pandora has announced plans to close up to 100 underperforming concept stores in mainland China as part of efforts to optimise its global retail footprint. This is double the number of closures previously expected. The company has already closed 22 stores in China so far this year. China’s share of Pandora’s global revenue declined from 9% in 2019 to 1% in 2024. The brand’s customisable ‘bracelet + charm’ concept initially attracted interest from younger consumers, but the category has since become common among domestic gold jewelry retailers, reducing its distinctiveness in the market. Global Store Openings to Continue While the…

Angola’s state-owned diamond company Endiama has financed the construction of a university campus in the diamond-producing region of Lunda Norte. The facility, which includes faculties for law and economics, was opened last week by Angola’s president João Lourenço. The reported investment totalled over $69 million. Campus Capacity and Facilities The campus has 87 classrooms and can accommodate up to 8,718 students across three daily shifts. Facilities include two computer rooms, a library, a cafeteria and two sports courts. The site also includes access features for students with limited mobility. Statements from Government and Endiama Speaking at the opening ceremony, Diamantino…

A new research report from jewelry and watch insurer BriteCo has revealed that lab-grown diamonds accounted for more than 45% of engagement ring purchases in the US by 2024. The findings are based on BriteCo’s analysis of proprietary appraisal and insurance data gathered over the past five years. The report, titled The Lab-Grown vs Natural Diamond Revolution: New Data Reveals Consumer Insights, Trends and Predictions, outlines changes in consumer behaviour and purchasing patterns as lab-grown diamonds gain market share against natural diamonds. Pricing and Consumer Behaviour BriteCo’s data indicates that by 2025, the average retail price of a 1-carat lab-grown…

The Jewelers Vigilance Committee (JVC) has launched an online Tariff Tracker providing information on U.S. tariff changes that apply to jewelry, gemstones and precious metals. Funded in part by a grant from the JCK Industry Fund, the tracker will be updated when tariff provisions change and is designed to provide information for businesses assessing potential cost, supply chain and compliance implications. Supporting Trade Compliance JVC said the tool is intended to help members stay informed about U.S. trade policy changes and their effect on the import of jewelry-related goods. It will not offer legal advice, and the organisation recommends that…

India’s Gem and Jewelry Export Promotion Council (GJEPC) has raised concerns over the United States’ decision to impose a 50% tariff on all Indian goods, warning that the measure could disrupt India’s gem and jewelry exports. The US accounts for over $10 billion of exports from India’s gem and jewelry sector, representing around 30% of total global trade. According to GJEPC, 85% of exports from the Santacruz Electronics Export Processing Zone (SEEPZ) Special Economic Zone, which employs around 50,000 people, are directed to the US. For cut and polished diamonds, half of India’s exports are US-bound. GJEPC Chairman Vipul Shah…

Pandora has confirmed a cyberattack that resulted in customer names and email addresses being accessed via a third-party platform. The Danish jewelry group said the incident has been contained and that no passwords, payment card details or other sensitive information were involved. Details of the Breach In notification emails sent to affected customers, Pandora stated: “We are writing to inform you that Pandora has experienced a cyber security attack, where some customer information was accessed through a third-party platform that we use. We want to reassure you that the attack has been stopped, and as a result we have further…

Claire’s, the US-based jewelry and accessories retailer with around 2,750 stores worldwide, has filed for Chapter 11 bankruptcy protection in the US for the second time in seven years, citing mounting debt, reduced store footfall, changing consumer spending patterns and tariff-related cost increases on imported goods. The filing, made in the US Bankruptcy Court for the District of Delaware on 6 August, comes as Claire’s faces a $496 million loan due in December 2026. The retailer is seeking a buyer and may close around half of its US outlets, with the potential for full store closures if no sale is…

The India–UK Free Trade Agreement (FTA), signed on 24 July 2025, is expected to significantly increase bilateral trade in the gem and jewelry sector by removing import tariffs on nearly all Indian exports to the UK. The agreement, signed at Chequers by UK Prime Minister Sir Keir Starmer and Indian Prime Minister Shri Narendra Modi, grants zero-duty access to 99% of Indian exports. Jewelry products expected to benefit include plain gold and gemstone-studded items. Tariff Removal and Trade Projections In 2024, gem and jewelry trade between the two countries totalled $3.6 billion—comprising $941 million in exports from India to the…

A US fusion energy startup has published early-stage research outlining a method for producing gold as a by-product of fusion power generation. While the process is not yet proven or commercially viable, the proposal suggests that gold could one day be manufactured inside fusion reactors using mercury. Marathon Fusion, based in San Francisco, says the process could improve the economics of fusion energy by generating gold alongside electricity. The company’s yet-to-be-peer-reviewed paper estimates that each power plant could theoretically produce several tonnes of gold per year without affecting energy output. How the Gold Is Made The proposed method involves adding…

Gemological Science International (GSI) is marking 20 years since its founding in 2005 by Debbie Azar and Mark Gershburg. Over the past two decades, the organisation has expanded its operations globally, providing gemological services to both manufacturers and retailers across the jewelry supply chain. Since its founding, GSI has focused on supporting manufacturers and retailers through laboratory services grounded in gemological research. While much of the industry has focused primarily on diamond grading, GSI has invested heavily in building robust grading and identification standards for coloured gemstones. Focus on Coloured Gemstones and Lab-Grown Detection “Coloured gemstones are incredibly complex, but…

Lab-grown diamond wholesale prices continued to decline in 2025, with significant year-on-year reductions across key size categories. Industry analyst Edahn Golan’s LGD Wholesale Price List, based on Mumbai trading data for IGI-certified stones, recorded a 6.7% decrease in the second quarter, following an 8.9% drop in the first quarter. Ongoing Reductions Across Key Sizes Consecutive quarterly declines have led to substantial annual price reductions. Prices for one- to three-carat round lab-grown diamonds are now 42% lower than in the same quarter of 2024. Three-carat rounds saw the sharpest drop, with wholesale prices halving year on year. The pace of decline…

The International Gemological Institute (IGI) has confirmed it will continue to apply the universally recognised 4Cs grading system – cut, colour, clarity and carat weight – to both natural and lab-grown diamonds. The announcement follows recent decisions by other major gemmological laboratories to modify or withdraw grading standards for synthetic stones. IGI’s Position on Lab-Grown Diamond Grading In a statement released earlier this week, IGI said it would “continue applying the universal 4Cs grading to all diamonds, whether natural or lab-grown,” reinforcing its long-standing policy of using the same evaluative framework regardless of a diamond’s origin. The Institute stated: “Since…

Kim Kardashian appeared at Balenciaga’s Fall 2025 Haute Couture show in Paris on 10 July wearing a pair of diamond pendant earrings formerly owned by Elizabeth Taylor. The earrings were loaned for the occasion by jeweller Lorraine Schwartz, who has previously worked with both Taylor and Kardashian. The show marked the final presentation by Demna as creative director of Balenciaga. Kardashian’s appearance wearing Taylor’s jewelry added a heritage element to the event, connecting a well-known piece from a private collection with a contemporary fashion context. Provenance and Auction History The diamond pendant earrings were originally a gift from Taylor’s third…

The Gemological Institute of America (GIA) has confirmed that Pritesh Patel will become its next President and Chief Executive Officer, effective 4 August 2025. Patel, currently Chief Operating Officer, will succeed Susan M. Jacques, who will continue as a strategic advisor until her retirement at the end of 2025. The announcement follows a global search process led by the GIA Board of Governors and a dedicated CEO search committee. Candidates from within GIA and across the gem and jewelry industry were considered. Background and Experience Patel joined GIA in 2015 as Chief Information Officer and was appointed Senior Vice President…

David Kellie will step down as Chief Executive Officer of the Natural Diamond Council (NDC) at the end of 2025, following six years in the role. The announcement was made by Kellie via his LinkedIn profile and follows recent developments that secure new funding for the NDC from African producers and other stakeholders through the Luanda Accord. Leadership and Rebrand Kellie was appointed CEO in December 2019, succeeding Jean-Marc Lieberherr at what was then the Diamond Producers Association. Under his leadership, the organisation rebranded to the Natural Diamond Council in mid-2020, as part of a shift to engage younger consumers…

The Jewelers’ Security Alliance (JSA) has issued updated recommendations for jewelry retailers in response to ongoing incidents of smash-and-grab robberies. The non-profit organisation, which has provided crime prevention support to the jewelry industry since 1883, has detailed several measures intended to reduce losses and support safety. Focus on Personal Safety During Incidents The JSA advises against resisting during a smash-and-grab robbery, as offenders may be armed with hammers, knives, or firearms. These incidents tend to occur rapidly, and attempting to intervene may increase the risk of injury. Physical Deterrents and Alarm Systems The JSA recommends installing burglary-resistant, laminated glass in…

The Natural Diamond Council (NDC), in collaboration with Choron Group and the Fancy Color Research Foundation (FCRF), has released a new industry report focused on fancy colour diamonds. The report examines the formation, market dynamics, rarity, and historical significance of these diamonds, providing an informational resource for jewellers, collectors, auction houses, and retailers. Market Context and Report Purpose The release follows a series of notable sales and media coverage involving fancy colour diamonds. In June 2025, the Marie-Thérèse Pink diamond achieved nearly $14 million at Christie’s New York, while a 5.02-carat fancy pink diamond ring at Sotheby’s was estimated between…

Pandora has partnered with Amazon to take action against a network involved in the sale of counterfeit jewelry, resulting in a criminal prosecution in China. The collaboration followed a multi-year investigation by Pandora’s Intellectual Property and Brand Protection team, supported by Amazon’s Counterfeit Crimes Unit. Chinese law enforcement, acting on the information gathered, conducted a raid leading to the seizure of counterfeit Pandora items. Investigation and Legal Proceedings The inquiry was launched in 2020 after customs authorities intercepted shipments suspected of containing counterfeit goods. Pandora and Amazon linked the activity to two sellers based in China operating at scale across…

Russia remained the leading country for rough diamond production by value in 2024, holding its position for a second consecutive year. According to data released by the Kimberley Process, the Russian Federation produced 37.3 million carats of rough diamonds, valued at $3.34 billion, despite continued international sanctions and a subdued global market. Production Trends and Market Conditions Global rough diamond production increased by 6% in volume to 118 million carats. However, the total value declined by 10% year-on-year to $11.48 billion, reflecting weaker consumer demand and lower average prices across key producing countries. Russia’s output matched the previous year’s volume…

Governments of major diamond-producing countries and industry leaders have signed the Luanda Accord, committing to allocate 1% of annual revenues from rough diamond sales to support the marketing of natural diamonds through the Natural Diamond Council (NDC). Backing for Natural Diamond Promotion The agreement was signed during a Ministerial Round Table in Luanda, Angola, where participating countries and companies expressed a unified approach to enhancing global consumer awareness of natural diamonds. This initiative aims to address a decline in category marketing investment and respond to the impact of synthetic alternatives on consumer perceptions. Angola’s Minister of Mineral Resources, Oil and…

HRD Antwerp, the diamond grading laboratory subsidiary of the Antwerp World Diamond Centre (AWDC), has announced it will cease issuing quality certificates for loose laboratory-grown diamonds from 2026. The decision is part of an effort to reinforce the distinction between natural and synthetic diamonds. Scope of the Change The laboratory will stop grading loose lab-grown diamonds intended for commercial sale, but will continue to certify jewelry that contains synthetic diamonds. HRD will also continue to analyse synthetic diamonds for research and technical purposes, but not for grading or commercial use. Ellen Joncheere, CEO of HRD Antwerp, stated: “As of 2026,…