https://www.owlfinancialgroup.com/about daily 0.75 2026-03-18 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1509722202729-HGBOSX4EC36J027KIYA0/About-Standing-blue.jpg About - Let Owl Be Your Bank. Founded in 2011. Built on 45+ Years of Diamond Industry Expertise. https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/b1a205c7-3bdf-43be-b544-3727cf36e196/headshot+kh.jpg About https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1509984388819-205SFDS8ZXW3PNOOKMZH/Kalman.jpg About https://www.owlfinancialgroup.com/industryinsights daily 0.75 2026-03-06 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1534798875708-P4W6RRUILM6FQ4TB8RBT/Jewels-blue.jpg Industry Insights https://www.owlfinancialgroup.com/industryinsights/2024/oct23-pgne3-n5cjk-cnhsf-rmjt9 monthly 0.5 2025-01-23 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/a8095cf3-22b6-4b84-89e0-a1ffdb6e6818/1.jpg Industry Insights - Diamond industry news recap -January 23, 2025 - Petra Diamonds Lowers Price Forecast Amid Market Weakness Petra Diamonds has revised its rough diamond price forecast for the second time in two months due to ongoing market challenges. The miner now expects rough from its Finsch mine in South Africa to sell for $70–$80 per carat, a significant drop from earlier predictions of $98–$105. Sales and production volumes have also declined, though Petra remains optimistic about a potential rebound driven by increased U.S. online jewelry demand and strong sales in India during Diwali. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1166e5df-34a3-4701-8c63-b4e44bfecd15/2.jpg Industry Insights - Diamond industry news recap -January 23, 2025 - Lab-Grown and Natural Diamonds: Room for Both? Ahmed Bin Sulayem, CEO of Dubai Diamond Exchange’s parent body, DMCC, suggests that lab-grown and natural diamonds can coexist in harmony. In an open letter, he emphasized the unique benefits of lab-grown diamonds, such as profitability and sustainability, and urged the industry to view them as a catalyst for growth rather than competition. Sulayem also highlighted the need for the natural diamond industry to adapt to evolving demand and market dynamics. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/f91a14d0-a187-4a8f-bc34-639f24bbd563/3.jpg Industry Insights - Diamond industry news recap -January 23, 2025 - Smart Rings Enter the Luxury Market Indian startup Ultrahuman has disrupted the wearable tech space with its launch of luxury smart rings made of 18k gold and platinum. Priced between $1,900 and $2,250, these rings track sleep, stress, heart rate, and more. This move challenges market leader Oura Ring, which dominates the smart ring market with an 80% share. Ultrahuman’s innovation reflects a growing trend of integrating technology with luxury. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/ebefc778-0031-4704-b516-dd081efc7132/4.jpg Industry Insights - Diamond industry news recap -January 23, 2025 - Younger, Diverse Consumers Drive Jewelry Market Growth The jewelry sector is projected to grow by 4%–6% over the next two years, outperforming other luxury categories, according to a McKinsey & Co. and Business of Fashion report. The study attributes this growth to a younger, more diverse customer base and rising demand for branded jewelry. However, it warns that the natural diamond market faces challenges from lab-grown alternatives and post-pandemic engagement trends. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/d1432f48-1e94-4719-b9d4-1d160ce9131e/5.jpg Industry Insights - Diamond industry news recap -January 23, 2025 - Independent Jewelers Shine Amid Economic Challenges Despite economic uncertainties, independent jewelers thrived in 2024, driven by increased consumer spending and higher average ticket prices. While overall diamond sales dipped slightly, categories like diamond bracelets and necklaces saw double-digit growth. A balanced focus on natural and lab-grown diamonds has helped retailers navigate changing consumer preferences while maintaining healthy margins. Read more https://www.owlfinancialgroup.com/industryinsights/2024/oct23-pgne3-n5cjk-cnhsf monthly 0.5 2025-01-16 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/9e7296e5-d76f-4a66-be1e-83025b5a8359/1.jpg Industry Insights - Diamond industry news recap -January 16, 2025 - Oversize Diamonds: Holding Strong in a Weak Market Oversize diamonds, polished stones just shy of round numbers like 1.50 or 3.00 carats, continue to outperform other categories amid market downturns. Their popularity in the U.S. bridal market stems from offering a larger appearance at a lower price point. These diamonds have maintained narrower discounts compared to other sizes during 2024, driven by their desirability and structural pricing advantages. This trend reflects a growing consumer emphasis on value and spread. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/fca0241f-82aa-4ea9-beb0-21ad1d741489/2.jpg Industry Insights - Diamond industry news recap -January 16, 2025 - UAE Shifts VAT Rules for Precious Stones The UAE has implemented a reverse charge VAT mechanism, transferring the responsibility for tax reporting from sellers to buyers in transactions involving diamonds, pearls, and precious metals. Effective January 1, 2025, this move aims to reduce administrative burdens and improve cash flow for businesses, aligning the UAE with global best practices. The change is part of the government’s ongoing commitment to support the precious metals and gemstones trading sector. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/a46d255c-14f5-4cbd-854a-aad4d7b31f84/3.jpg Industry Insights - Diamond industry news recap -January 16, 2025 - LA Wildfires Devastate Jewelry Businesses The Los Angeles wildfires have destroyed at least two jewelry stores, displacing families and businesses. Elyse Walker and Jaimie Geller Jewelry, both located in Pacific Palisades, are among the affected. Jewelers have expressed heartbreak but vow to rebuild. The International Gemological Institute and industry organizations have extended thoughts and prayers to those impacted, showcasing solidarity within the community. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/6edb4d0c-d439-44da-bdc7-4d389b5f59e4/4.jpg Industry Insights - Diamond industry news recap -January 16, 2025 - Zambia Reinstates Export Duty on Precious Gemstones The Zambian government has reinstated a 15% export duty on gemstones, shocking the industry. Effective January 1, the tax adds to an already significant 6% mineral royalty tax and a 30% corporation tax. This decision impacts companies like Gemfields, which operate the Kagem emerald mine, and raises the total effective tax rate to 21%. The move has been met with criticism from industry stakeholders, who plan to lobby for its reversal. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/cace58db-4642-4911-9308-e8a657c801d7/5.jpg Industry Insights - Diamond industry news recap -January 16, 2025 - Jewelers Relief Fund Reopens to Support LA Fire Victims The Jewelers Relief Fund, managed by Jewelers of America and the Diamond Council of America, has reopened to aid businesses affected by the Los Angeles wildfires. Donations will go directly to jewelry retailers and manufacturers who sustained physical damages. The initiative highlights the industry’s collective effort to support its members during times of crisis. Contributions can be made through Jewelers.org. Read more https://www.owlfinancialgroup.com/industryinsights/2024/yearrecap monthly 0.5 2025-01-16 https://www.owlfinancialgroup.com/industryinsights/2024/oct23-pgne3-n5cjk monthly 0.5 2024-12-24 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/e4bb0810-bc66-463f-9e99-71b111c8045f/1.jpg Industry Insights - Diamond industry news recap -December 18, 2024 - US Retail Sales Rise in November Amid Strong Holiday Shopping Retail sales in the US increased by 0.7% in November, reaching $724.6 billion, despite losing two major shopping days to December due to calendar shifts. This growth was driven by early holiday shopping and a robust job market. Notably, online sales surged by 21% year-over-year, while the clothing and accessories sector, which includes jewelry, saw a 4.2% annual increase. Industry experts remain optimistic about the holiday season's impact on the economy. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/c4403b92-23a4-47ca-9e91-87c81028219a/2.jpg Industry Insights - Diamond industry news recap -December 18, 2024 - Tiffany Acquires Historic Titanic Timepiece for Record $2 Million Tiffany & Co. has purchased an 18-karat gold pocket watch with a direct connection to the 1912 Titanic voyage for a record-breaking $2 million. The timepiece was originally gifted to Captain Arthur Rostron of the RMS Carpathia by three Titanic survivors as a token of gratitude for rescuing passengers from the disaster. This acquisition highlights Tiffany's rich horological heritage dating back to the 19th century. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/00f4a4cc-5e4f-49e7-b74f-df31bd446872/3.jpg Industry Insights - Diamond industry news recap -December 18, 2024 - US Imposes Sanctions Over Zimbabwe Gold Smuggling Network The United States has sanctioned 28 individuals and entities involved in a large-scale gold smuggling and money laundering operation based in Zimbabwe. Among those sanctioned is businessman Kamlesh Pattni, previously implicated in a major gold scandal in Kenya during the 1990s. The network is accused of exploiting natural resources, bribing officials, and undermining public trust, with proceeds allegedly enriching corrupt officials and criminal actors. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/a2401492-dbad-4d13-9fd6-6f7b8ee53c5a/4.jpg Industry Insights - Diamond industry news recap -December 18, 2024 - AI Technology Uncovers New Diamond Targets in Botswana Botswana Diamonds, a UK-based exploration company, announced that artificial intelligence has identified seven significant kimberlite targets in Botswana, indicating potential new diamond reserves. One target is described as having extremely high interest. By analyzing extensive geophysical data, the AI system has accelerated the discovery process, reinforcing Botswana's status as a key player in the diamond industry. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/d927cad3-ce1a-438e-9b6b-9af5afba8ddf/5.jpg Industry Insights - Diamond industry news recap -December 18, 2024 - Chanel to Receive Gem Award for High Jewelry Excellence Chanel has been named the recipient of the 2025 Gem Award for High Jewelry Excellence by Jewelers of America and the Gem Awards committee. The award recognizes the brand's exceptional craftsmanship and innovation in high jewelry design, particularly for its "Haute Joaillerie Sport" collection launched earlier this year. Chanel continues to embody traditional French savoir-faire while captivating consumers with fresh and artistic creations. Read more https://www.owlfinancialgroup.com/industryinsights/2024/oct23-pgne3-89mxe monthly 0.5 2024-12-24 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/699e715f-5f31-4c08-bf48-d341d4de6ef7/1.jpg Industry Insights - Diamond industry news recap -November 20, 2024 - Swiss Watch Exports Continue to Decline Amid Weak Chinese Demand Swiss watch exports declined for the second consecutive month in October, falling 16.6% year-on-year to $2 billion. The decline was driven by a sharp drop in demand from China, with exports to the region plummeting by 45%. While high-end watches fared slightly better, the overall outlook for the luxury watch sector remains challenging. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/0364c2b8-674a-4b41-aee3-a014573f580e/2.jpg Industry Insights - Diamond industry news recap -November 20, 2024 - Diamond Industry Discusses $65 Million Fund to Promote Natural Diamonds Industry leaders are in talks to establish a $65 million fund aimed at supporting global marketing efforts for natural diamonds. Proposed at the Dubai Diamond Conference, the fund would impose a 0.05% levy on rough diamond imports to reinvigorate consumer interest. The initiative underscores the urgency to counteract the rise of lab-grown diamonds and declining demand for natural stones. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/73dbfc9d-1048-42b9-a00f-21c4bdf5829b/3.jpg Industry Insights - Diamond industry news recap -November 20, 2024 - Botswana President Reassures Long-Term Partnership with De Beers Botswana’s new president, Duma Boko, has expressed confidence in the country’s long-standing partnership with De Beers. Following his recent election victory, Boko highlighted plans to finalize an agreement to increase Botswana’s share of rough diamond output from 25% to 50% over a decade. He emphasized the importance of maintaining a mutually beneficial relationship to drive the nation’s economic growth. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/eff3b06c-a5d1-46d0-a10e-55b29130b83c/4.jpg Industry Insights - Diamond industry news recap -November 20, 2024 - India’s Part-Time Diamond Diggers Face Market Challenges Hundreds of carats of diamonds mined by part-time diggers in India’s Panna region remain unsold due to declining global demand and competition from lab-grown diamonds. Despite their potential value, stones from state-run auctions failed to attract buyers. The situation reflects broader challenges in the diamond market as consumer preferences continue to shift. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/2afe437a-9c4a-4bea-ae34-c28f3a5b30f6/5.jpg Industry Insights - Diamond industry news recap -November 20, 2024 - Observations from Paris Jewelry Week Paris Jewelry Week 2024 showcased bold and innovative designs, emphasizing sustainability and intricate craftsmanship. The event highlighted a shift toward storytelling and personal expression in jewelry design, catering to consumers’ growing desire for meaningful and sustainable luxury pieces. Read more https://www.owlfinancialgroup.com/industryinsights/2024/oct23-pgne3 monthly 0.5 2024-12-24 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/b0bca292-5468-4433-9e57-ea8d094f51ee/IMG_0283.JPG Industry Insights - Diamond industry news recap -November 7, 2024 - GIA to Close Israel Gem Lab by End of 2024 GIA to Close Israel Gem Lab by End of 2024 The Gemological Institute of America (GIA) announced it will close its gem laboratory in Israel by year-end as part of a strategic global restructuring. This move comes after decades of operations in the region and aims to streamline services and allocate resources to other locations. Israeli clients will still have access to GIA services through alternative channels. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/ad3dcd5b-3efb-4a9e-86af-59b554777040/IMG_0284.JPG Industry Insights - Diamond industry news recap -November 7, 2024 - GIA Graders Spot Unusual Inclusions in Natural Diamonds GIA graders have identified rare inclusions in natural diamonds that provide new insights into Earth’s deep mantle. These unusual formations not only offer a glimpse into geological processes but also highlight the scientific value of diamonds beyond their aesthetic appeal. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/fc77b5dc-558c-4154-b2f6-2130758edde7/IMG_0285.JPG Industry Insights - Diamond industry news recap -November 7, 2024 - Jewels from the Sassoon Dynasty to Go Under the Hammer Jewels from the Sassoon Dynasty to Go Under the Hammer Jewelry from the famed Sassoon dynasty, including an Art Deco Cartier diamond necklace, will be auctioned at Christie’s Geneva on November 12. The necklace, which survived a WWII bombing, is estimated to sell for $1 million to $1.5 million. Other pieces include a Cartier ruby and diamond necklace and an Art Deco Colombian emerald bracelet, showcasing the Sassoons’ legacy of fine jewelry and cultural influence. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/602e2c2d-75fa-4e98-8866-f3650de35ae4/IMG_0286.JPG Industry Insights - Diamond industry news recap -November 7, 2024 - US Watch and Jewelry Sales See Sustained Growth The U.S. watch and jewelry market continued its recovery in August, marking the 12th consecutive month of growth, with sales up 8.4% year-on-year. Much of this resurgence is driven by multi-line retailers like Amazon, Costco, and Walmart, which account for two-thirds of all watch and jewelry sales. Specialty jewelers, however, face challenges, as reflected by Signet’s 3.7% drop in Q2 same-store sales in North America. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/23987bb4-cd52-43ec-a7e1-660fdb6cade6/IMG_0287.JPG Industry Insights - Diamond industry news recap -November 7, 2024 - Titanic-Era Rolex to Be Auctioned by Sotheby’s A unique Rolex watch linked to the Titanic disaster is expected to fetch between $1.5 million and $3 million at Sotheby’s Geneva auction. This historic timepiece, steeped in cultural significance, underscores the enduring appeal of collectible luxury watches. Read more https://www.owlfinancialgroup.com/industryinsights/2024/oct23 monthly 0.5 2024-12-24 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/13414a44-b6dc-4d24-b4cd-508980990ce0/1.jpg Industry Insights - Diamond industry news recap -October 30, 2024 - US Holiday Spending to Reach New Record Holiday spending in the US is set to reach an all-time high, with the average consumer projected to spend $902, according to the National Retail Federation (NRF). Over half of this amount will go toward gifts for family, friends, and coworkers. Online shopping remains the top destination, and younger consumers are increasingly turning to thrift stores and resale shops for gifts, highlighting sustainability trends. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/fe392e3f-c413-44d5-b609-18cfc5aa9ea8/2.jpg Industry Insights - Diamond industry news recap -October 30, 2024 - WJA Foundation Awards $63,000 in Scholarships The Women’s Jewelry Association (WJA) Foundation announced the recipients of its annual scholarships, awarding a total of $63,000 to support emerging talent in the jewelry industry. Scholarships were granted across six categories, benefiting students from watchmaking to gemology. The funds aim to empower the next generation of jewelry professionals and are raised through donations and events like the upcoming Future of Forty Gala Fundraiser in New York. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/6d3038cf-8179-48b4-8eca-6314262b2969/3.jpg Industry Insights - Diamond industry news recap -October 30, 2024 - Sharp Decline for Swiss Watch Exports Swiss watch exports saw their steepest decline of the year in September, dropping 12.4% as demand from key markets like Hong Kong and China fell sharply. Lower-priced luxury watches took the biggest hit, with a 33% decline in value, while high-end luxury watches were less affected. The Federation of the Swiss Watch Industry noted that US and Japanese markets saw slight increases, helping offset some losses. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/160269e6-b160-4d5b-a1e4-3f2282060a02/4.jpg Industry Insights - Diamond industry news recap -October 30, 2024 - De Beers Will Now Disclose Diamond Origins In a shift toward transparency, De Beers will now disclose the country of origin for diamonds over 1.25 carats through its Tracr tracking program. Retailers, labs, and manufacturers will be able to access this data, enhancing the storytelling potential for natural diamonds. This initiative is set to expand in January to include polished diamonds over 0.5 carats, offering more detailed provenance information across the market. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/aa01681f-ab80-4626-976d-3601402e20b3/5.jpg Industry Insights - Diamond industry news recap -October 30, 2024 - The Can’t-Miss Events of 2024 New York City Jewelry Week New York City Jewelry Week (NYCJW) returns November 18-24, offering over 100 events for jewelry enthusiasts, including designer showcases, exhibitions, and a treasure hunt. This year’s theme, “Wonder & Wander,” celebrates jewelry as both art and personal expression, with luxury brands like David Yurman and Oscar Heyman joining the festivities. NYCJW is an annual highlight for collectors and industry professionals alike. Read more https://www.owlfinancialgroup.com/industryinsights/2024/oct23-6n8ak monthly 0.5 2024-12-24 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/a1fd5564-049f-4b12-bfc2-c20aa39be231/1.jpg Industry Insights - Diamond industry news recap -October 23, 2024 - Shuttering of US Jewelry Companies Slows The rate of jewelry business closures in the US has slowed, with 158 companies shuttering in the third quarter, compared to 171 a year ago, according to the Jewelers Board of Trade (JBT). Despite the slowdown, the overall number of active companies in the US jewelry industry fell by 3.3% year on year. However, there was positive news as 112 new businesses opened, marking a 25% increase compared to last year. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/f30cdf1a-b991-4d52-ae04-c201b71c4492/2.jpg Industry Insights - Diamond industry news recap -October 23, 2024 - US Retail Sales Rise in September in Lead-Up to Holidays US retail sales continued to grow in September, climbing 0.4% from August to $714.4 billion, driven by a strong job market and lower inflation. The increase comes as shoppers prepare for the holiday season, with clothing and accessories sales, including jewelry, rising 1.1% compared to August and 10% year on year. Online sales led the growth, up 15% from last year. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/e97aaed2-8c4f-47fb-944e-0cadce49fa1f/3.jpg Industry Insights - Diamond industry news recap -October 23, 2024 - De Beers and Signet Launch Zillennials Campaign De Beers and Signet Jewelers have launched a new campaign targeting "Zillennials" (those born between 1993 and 1998) with a focus on natural diamonds. The "Worth the Wait" campaign highlights the unique journey of modern couples, featuring diverse representation across racial, ethnic, and LGBTQIA+ communities. This collaboration aims to boost post-pandemic engagement sales among a new generation of US consumers. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/47b21e1d-b5da-43e8-be5b-f31ae40fc81d/4.jpg Industry Insights - Diamond industry news recap -October 23, 2024 - Mountain Province Sales Up, Prices Down Mountain Province reported a 12% increase in sales for the third quarter, despite a 27% drop in average diamond prices. The Toronto-based miner sold 679,599 carats during the quarter but noted that market conditions remained unsettled, with rough diamond prices continuing to fall. The Gahcho Kue mine is expected to produce 4.2 to 4.7 million carats in 2024, with production forecasted to extend until early 2031. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/95442ed2-b0a0-46d9-b4e4-aa652ecf9659/5.jpg Industry Insights - Diamond industry news recap -October 23, 2024 - One-of-a-Kind Philippe Dufour Watch Heads to Auction A unique Philippe Dufour Grande et Petite Sonnerie wristwatch is set to make history at Phillips' New York Watch Auction in December. With an estimated sale price exceeding $2 million, this one-of-a-kind timepiece features both petite and grande complications and is poised to break auction records. Dufour, a revered name in traditional watchmaking, has crafted only eight of these models, making this an extraordinary opportunity for collectors. Read more https://www.owlfinancialgroup.com/industryinsights/2024/oct16 monthly 0.5 2024-10-23 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/bd2ae57d-77a6-4280-bca8-c043bb359908/1.png Industry Insights - Diamond industry news recap -October 16, 2024 - Amplifying the Message: Natural Diamond Industry’s Push for Demand The natural diamond industry is ramping up its marketing efforts to stimulate demand during the crucial holiday season. De Beers and the Natural Diamond Council (NDC) have partnered with major jewelers like Signet Jewelers, rolling out campaigns to emphasize the unique attributes of natural diamonds. With natural diamonds losing market share to synthetics and challenges from US and China market slowdowns, the industry is urgently seeking a turnaround. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/c2fd302f-f7ae-4f6d-8c43-2d10292fcdd3/2.png Industry Insights - Diamond industry news recap -October 16, 2024 - China ‘Kaput,’ Synthetics Are Biggest Disruptor, Says Martin Rapaport In a recent address, Martin Rapaport highlighted China’s decline in diamond demand, calling the market “kaput.” Rapaport cited competition from synthetic diamonds as the biggest threat to natural diamonds. He predicted that synthetics, while appealing in the short term, may eventually decline, leaving room for natural diamonds to regain value, particularly as older generations pass down $72 trillion in wealth. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/499702e2-958b-49e1-98cf-a33ae334721e/3.png Industry Insights - Diamond industry news recap -October 16, 2024 - Call for Clear Lab-Grown Labels in India The Gems and Jewellery Export Promotion Council (GJEPC) is calling on the Indian government to adopt US guidelines requiring clear labeling for lab-grown diamonds. The lack of standardization and mandatory disclosure in India is causing confusion, with GJEPC arguing for stricter rules to differentiate between natural and lab-grown diamonds.. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/61f02f09-0480-4912-8df3-2b5e73ddaf24/4.png Industry Insights - Diamond industry news recap -October 16, 2024 - Global Supply of Diamonds Has Peaked Moses Madondo, CEO of De Beers group managed operations, announced that global diamond supply has peaked, with future production expected to decline due to mine closures. While limited supply may create price growth potential, Madondo emphasized the importance of new deposits, such as the Luele mine in Angola, which is projected to ramp up production in the 2030s. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/397ad6e1-12e1-4da2-83b6-b8a5a772638a/5.png Industry Insights - Diamond industry news recap -October 16, 2024 - Costco Now Selling Platinum Bars Following its success in selling over $100 million in gold bars, Costco has added platinum bars to its offerings, retailing at $1,089 for a 1 oz. bar. Manufactured by PAMP Suisse, the bars are available exclusively to Costco members and have generated considerable interest, furthering Costco’s entry into the precious metals market. Read more https://www.owlfinancialgroup.com/industryinsights/2024/oct9 monthly 0.5 2024-10-09 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/5162fa72-7458-4dbd-a951-13ddd0adb01f/IMG_0191.jpeg Industry Insights - Diamond industry news recap -October 9, 2024 - Martin Rapaport on Natural Diamond Markets Geopolitical and economic changes are reshaping the diamond market, with the natural diamond industry facing competition from lab-grown alternatives. Martin Rapaport discusses major factors such as declining Chinese demand, the rise of India as a diamond consumer, and a shift towards diamond resale opportunities. The industry has lost nearly 50% of global demand, but new strategies can help navigate these turbulent times. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/3704c7d9-432d-4e38-995f-fefa06624bfc/IMG_0192.jpeg Industry Insights - Diamond industry news recap -October 9, 2024 - Diamond Prices Decline in September Diamond prices continued to drop in September due to oversupply, as indicated by the RapNet Diamond Index (RAPI™). Indian manufacturers reduced production to balance inventory levels, while demand remained weak in China and stable in the US. Leading diamond miners, including De Beers and Alrosa, held rough prices steady, aiming to prevent market oversaturation. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/cc5fd65f-a97c-4ee2-83fa-59960b103705/IMG_0193.jpeg Industry Insights - Diamond industry news recap -October 9, 2024 - Lucara Sells Digital Sales Platform to ex-CEO Lucara has sold its digital diamond sales platform, Clara, to former CEO Eira Thomas and HRA Group. The transaction allows Lucara to concentrate on expanding its Karowe mine, while the new owners plan to scale Clara as a premier marketplace for rough diamonds. Lucara retains a 3% profit interest and a five-year rough diamond supply agreement. . Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/0cdf82cd-8efe-4766-bfe1-69bda7e54d8e/IMG_0194.jpeg Industry Insights - Diamond industry news recap -October 9, 2024 - Cartier Clock and 17-ct Ring Lead Paris Auction An upcoming Bonhams auction in Paris will feature an Art Deco Cartier jeweled clock and a 17.19-carat diamond solitaire ring. With 174 lots, the event will showcase pieces from renowned brands like Cartier, Bulgari, and Van Cleef & Arpels, offering a range of designs from the 1930s to contemporary collections. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/dc4d3868-e4d0-4836-8dd1-7d7c18599820/IMG_0195.jpeg Industry Insights - Diamond industry news recap -October 9, 2024 - New Jewelry Company Disrupts How People Wear Hearing Aids Auzi, a London-based startup, is revolutionizing the hearing aid market by turning these devices into luxury fashion items. Co-founders Daniela Groza and Declan McLaughlin designed jewelry cases for hearing aids using precious metals and gemstones, blending technology with style. The company plans to expand globally and integrate AI for future product enhancements. Read more https://www.owlfinancialgroup.com/industryinsights/2024/oct2 monthly 0.5 2024-10-02 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/861f730c-35ee-471f-9d6b-93767385714b/1.jpg Industry Insights - Diamond industry news recap -October 2, 2024 - India’s Manufacturing Sector Faces Decade-Low Revenues India’s diamond polishing revenues are forecasted to hit their lowest in a decade, with sales expected to drop up to 27% to $12 billion by March 2025, according to Crisil Ratings. The slowdown stems from weak demand in the US and China, falling diamond prices, and a growing shift toward lab-grown diamonds. The Indian industry has responded by limiting rough purchases and curbing manufacturing to stabilize margins in the coming fiscal year. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/639d9c21-b6ff-4910-91a9-f47f196a8699/2.jpg Industry Insights - Diamond industry news recap -October 2, 2024 - Synthetics Maker Lusix to Sell for $2.5M Israeli synthetic diamond producer Lusix is set to be sold to Japanese company EDP for $2.5 million, following significant financial struggles. Despite receiving over $150 million in investments, Lusix amassed debts of $28 million, and most of its workforce will be laid off as part of the sale. The decline in synthetic diamond prices has been a major factor in Lusix’s challenges. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1d066ee1-dbf0-43ea-91ab-2bb99af8abc9/3.jpg Industry Insights - Diamond industry news recap -October 2, 2024 - $20,000 Apple Watch Case with 1,068 Diamonds A Swedish company has introduced a diamond-encrusted case for the Apple Watch, priced at $20,000. Featuring 1,068 hand-set VVS diamonds, the limited-edition case is a luxurious addition to Apple’s technology, with only 10 pieces being produced to mark the company’s 10th anniversary. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/3e4ddf78-744e-4a04-a2d3-c8723023d219/4.jpg Industry Insights - Diamond industry news recap -October 2, 2024 - IDEX Price Report: Decline Continues for Rounds and Fancies September saw further price drops for both round and fancy-cut polished diamonds, with few signs of recovery. The decline has been driven by weak consumer demand and the growing popularity of lab-grown diamonds. India’s manufacturing sector has been particularly hard-hit, with year-on-year production down by nearly a quarter. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/24b78bf2-ad6a-4c42-9dc9-1719880e2754/5.jpg Industry Insights - Diamond industry news recap -October 2, 2024 - Is Current Diamond Industry Turbulence Shaping a ‘New Normal’? The Indian diamond industry has been navigating significant challenges as polished inventories grow while prices remain flat. Companies are now adopting different strategies, including shorter work weeks and extended vacations, to manage the volatility. Some, like Venus Jewel, are focusing more on the domestic Indian market, while others are re-evaluating their operations to cope with the ongoing turbulence. Read more https://www.owlfinancialgroup.com/industryinsights/2024/sept26 monthly 0.5 2024-10-01 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/c6781eee-e1d7-49bc-8c9c-2413be0b1506/1.png Industry Insights - Diamond industry news recap -September 26, 2024 - Sotheby’s to Offer Diamond Necklace with Link to Marie Antoinette A rare diamond necklace, potentially linked to Marie Antoinette, is set to be auctioned by Sotheby’s in Geneva. This exquisite piece, boasting approximately 300 carats of diamonds, was worn during two royal coronations. Valued at up to $2.8 million, the necklace may include diamonds from the infamous “Affair of the Necklace” scandal. This masterpiece of Georgian design will tour multiple cities before the auction in November. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/3442be4f-0f0a-43ab-8536-2a77a3487157/2.png Industry Insights - Diamond industry news recap -September 26, 2024 - Letšeng Mine Yields 213-Carat Rough for Gem Diamonds Gem Diamonds continues to discover massive stones at its Letšeng mine in Lesotho. The company’s latest find is a 212.91-carat rough diamond, the 13th stone over 100 carats discovered this year alone. Operational improvements at the mine have enabled the recovery of larger stones with fewer breakages, contributing to Gem Diamonds’ strong production forecast for 2024. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1137fefe-d46e-466e-afb8-994a744a0d5e/3.png Industry Insights - Diamond industry news recap -September 26, 2024 - Swiss Watches Bounce Back in August, but Uncertainty Looms Swiss watch exports increased by 6.9% year-on-year in August, a stronger recovery than July’s modest growth. However, the overall trend for 2024 remains negative, with watchmakers citing poor visibility in the medium term. With demand from key markets like China and Hong Kong declining, the outlook for the remainder of the year remains cautious, despite the temporary upswing. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/a6b86212-770e-4c16-9e84-e2454db70552/4.png Industry Insights - Diamond industry news recap -September 26, 2024 - Jewels From My Inbox: September 2024 Edition As the holiday season approaches, jewelry retailers are preparing for a whirlwind of activity. This month’s trends include hoop earrings, tennis bracelets, and vibrant sapphires. As consumers get ready for the festive rush, jewelers are blending the warmth of autumn with the lingering glow of summer in their collections. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/4bb39a4a-d2c2-4527-b048-aa06fdc02f3c/5.png Industry Insights - Diamond industry news recap -September 26, 2024 - Is Current Diamond Industry Turbulence Shaping a ‘New Normal’? The Indian diamond industry has been navigating significant challenges as polished inventories grow while prices remain flat. Companies are now adopting different strategies, including shorter work weeks and extended vacations, to manage the volatility. Some, like Venus Jewel, are focusing more on the domestic Indian market, while others are re-evaluating their operations to cope with the ongoing turbulence. Read more https://www.owlfinancialgroup.com/industryinsights/2024/sept518 monthly 0.5 2024-10-01 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/cc75ac00-990f-4ed9-8973-8b492c4d5d9a/1.jpg Industry Insights - Diamond industry news recap -September 18, 2024 - US Retail Sales Rise in August as Inflation Eases Retail sales in the US saw continued growth in August, driven by rising consumer demand amid lower inflation and softened unemployment rates. The US Census Bureau reported a 0.1% increase from July, bringing total sales to $710.8 billion. National Retail Federation (NRF) CEO Matthew Shay noted that while job growth is slowing, unemployment remains low, ensuring consumer stability heading into the holiday season. Online sales led the way with a 17% year-on-year increase, while clothing sales saw a 2.1% rise from July. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/950d133b-3405-4a48-abdd-aaa28b33283f/2.jpg Industry Insights - Diamond industry news recap -September 18, 2024 - Jewelers Mutual, JSA Warn of Jewelry-Store Crime ‘Crisis’ Jewelers Mutual and the Jewelers' Security Alliance (JSA) have raised alarms about a surge in jewelry-store robberies in the US. Organized crime groups, primarily from South America, have been targeting stores through innovative break-in techniques, such as accessing safes through rooftops and neighboring walls. Jewelers are urged to strengthen their security systems to combat these sophisticated tactics. JSA Vice President Scott Guginsky said, “I haven’t seen this level of severity and frequency in all of my 30 years involved with jewelry crimes.” Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/91986cc7-5953-45d3-b0cf-1f6be9519b25/3.jpg Industry Insights - Diamond industry news recap -September 18, 2024 - Buy a House, Get a Free 6-Carat Diamond Ring! In a unique real estate promotion, jeweler Nashwa Ahmed is offering a free 6-carat diamond ring to the buyer of her $1 million luxury home in Canning Vale, Australia. The $30,000 ring is seen as a "goodwill gesture" to sweeten the deal. Ahmed, who owns five Blackbox Jewellers stores, purchased the home in 2015 for AUD 525,000 and has listed it with Stratton Realty. Offers close on September 24. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/9a4a479c-551e-43a5-b9b7-00d449983a8f/4.jpg Industry Insights - Diamond industry news recap -September 18, 2024 - Lucara Diamond Strikes Gold with Another Jumbo Gem Lucara Diamond continues its streak of unearthing massive diamonds at its Karowe mine in Botswana. The company recently announced the discovery of a 1,094-carat rough diamond, the sixth stone over 1,000 carats found at the site. This follows the recovery of a record-breaking 2,492-carat diamond just weeks earlier. The diamond will be sold through Lucara’s partner, HB Antwerp, though no decision has been made on whether to cut or auction the stone. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/eaa73fa9-529b-4105-87c8-be3be22279f7/5.jpg Industry Insights - Diamond industry news recap -September 18, 2024 - Boucheron Opens First US Store in New York City Luxury jewelry house Boucheron has made its US debut by opening a flagship store on Madison Avenue in New York City. The 3,900-square-foot boutique is inspired by Art Deco architecture, blending New York's iconic style with elements from Boucheron's Parisian heritage. Inside, visitors can immerse themselves in the brand's rich history while admiring bespoke furnishings and pieces from Boucheron’s private collection, including the Art Nouveau butterfly brooch worn by Elizabeth Taylor. Read more https://www.owlfinancialgroup.com/industryinsights/2024/sept12 monthly 0.5 2024-10-01 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/a714fefc-4f0f-4866-8e99-5c252a0dab02/1.png Industry Insights - Diamond industry news recap -September 12, 2024 - US Diamond Market: A Tale of Two Sides The US diamond market presents a curious picture. While retail sales remain steady, with a year-on-year increase of 8.5% in August for natural diamonds, there's a hesitation from retailers to buy new inventory. This cautiousness stems from price declines, leading to a preference for memo diamonds (diamonds held on consignment for potential sale) to minimize risk. This situation highlights how retailers are managing their inventory levels, impacting dealer sentiment despite stable consumer demand. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/d9b9ed41-925c-4235-ac6c-86a33a3f4171/2.png Industry Insights - Diamond industry news recap -September 12, 2024 - Gem Diamonds Unearths Another Large Rough Diamond Continuing its streak of impressive finds, Gem Diamonds has recovered a 126.21-carat rough diamond from its Letšeng mine in Lesotho. This marks their 12th stone exceeding 100 carats retrieved this year alone! This success is attributed to operational improvements at their processing plant, enabling them to handle large diamonds with greater efficiency. As a result, the company has revised its production and sales volume forecasts upwards for the full year. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/82da4397-38b8-46ad-99ab-ff9af878a9eb/3.png Industry Insights - Diamond industry news recap -September 12, 2024 - Rolex Seeks to Combat Counterfeiting with Tech Luxury watchmaker Rolex is stepping up its fight against counterfeiting with a novel solution. They've filed a patent application for an integrated system using an NFT chip embedded in their timepieces. This chip, along with a dedicated smartphone app, would store vital information about the owner, the watch itself, and a security key. Additionally, the chip could track service history, all secured on a blockchain for enhanced security. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/9ea99810-afc0-4d66-9f4e-25759cc6a20c/4.jpg Industry Insights - Diamond industry news recap -September 12, 2024 - Fabergé Conjures "Beetlejuice Beetlejuice" Collection Diamond Industry Needs Global Traceability Standards** The need for universally accepted traceability and transparency standards in the diamond industry is gaining traction. A new report by the Dubai Multi Commodities Centre (DMCC) highlights the importance of high-tech solutions to ensure the integrity and sustainability of the diamond supply chain. While acknowledging concerns about potential delays, costs,and regulatory burden, the report proposes a collaborative approach to define minimum requirements for traceability and transparency. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/43de219f-9ea6-49ea-80d9-eea80403dfd9/5.png Industry Insights - Diamond industry news recap -September 12, 2024 - Elizabeth Taylor's Jewels Up for Grabs (No Auction Required! This week, legendary actress Elizabeth Taylor's captivating jewelry collection has resurfaced. M.S. Rau, a prestigious antiques dealer, has acquired this extraordinary assortment, offering collectors a unique opportunity. Unlike traditional auctions, these pieces are available for purchase directly through the store, potentially at a more favorable price point. The collection boasts a diverse range of signed and unsigned pieces, some holding deep personal significance in Taylor's life,like a bracelet engraved with her children's names. Read more https://www.owlfinancialgroup.com/industryinsights/2024/sept5 monthly 0.5 2024-09-05 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/70b8e2ce-60bf-4cb0-a714-96ada1365b63/1.jpg Industry Insights - Diamond industry news recap -September 5, 2024 - Diamonds in Decline? The global diamond mining industry appears to be settling into a new normal of reduced production. Weaker market conditions and dwindling prospects for new mines are leading industry giants like De Beers to cut back on output. This trend is expected to continue in the foreseeable future, with historic lows set in 2023 likely to be surpassed. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/7a0f1d8b-b0b2-45be-9de3-4927caf92f34/2.jpg Industry Insights - Diamond industry news recap -September 5, 2024 - US Clarifies Diamond Import Rules Good news for American diamond enthusiasts! The US government has issued new guidelines for importing "grandfathered" diamonds – those purchased before the March 2024 sanctions on Russia. This clarifies the initial confusion and allows for the import of certain types of diamond jewelry and loose stones under specific carat weight restrictions. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/c331c663-6b39-4c8a-9ced-4be87b7f4b28/3.jpg Industry Insights - Diamond industry news recap -September 5, 2024 - Angola and Russia Work to Keep Mine Operational Angola and Russia are collaborating to maintain operations at the massive Catoca diamond mine, despite sanctions on Russia's Alrosa, which holds a significant stake in the mine. Whether or not Alrosa retains its ownership remains to be seen. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/e7a0e0af-aa49-4d3e-bfca-5a11490f4abf/4.jpg Industry Insights - Diamond industry news recap -September 5, 2024 - Fabergé Conjures "Beetlejuice Beetlejuice" Collection Luxury jeweler Fabergé has teamed up with filmmaker Tim Burton to create a stunning fine jewelry collection inspired by the iconic Beetlejuice movies. Featuring emeralds, rubies, and white diamonds, this playful and elegant collection captures the spirit of the films. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/d399ec0f-d40b-4d07-917e-e5204108a0c7/5.jpg Industry Insights - Diamond industry news recap -September 5, 2024 - De Beers Looks to India for Growth With diamond demand softening in traditional markets, De Beers is turning to India for a boost. The company has partnered with Tanishq, India's largest jewelry retailer, to educate consumers and retailers about natural diamonds and fuel sales growth. Read more https://www.owlfinancialgroup.com/industryinsights/2024/aug28 monthly 0.5 2024-08-28 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/414587b1-3de0-4702-a0cd-f2182e774620/1.jpg Industry Insights - Diamond industry news recap -August 28, 2024 - US Clarifies Diamond Import Rules: The US government has established guidelines for importing "grandfathered" diamonds - those purchased before March 2024's sanctions on Russia. This clarifies some initial confusion and allows for the import of certain diamond jewelry and loose stones under specific carat weight restrictions. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/da6e941c-528e-4248-a890-8609aaed40ad/2.jpg Industry Insights - Diamond industry news recap -August 28, 2024 - US Expands Diamond Sanctions: The US Treasury Department has added more diamond entities to its sanctions list,including Russia's largest manufacturer, Kristall, and prominent jewelry maker Miuz Diamonds. This move further tightens the grip on Russia's diamond industry. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/f6ff55be-b570-4a58-8a18-90814e55eb7d/3.jpg Industry Insights - Diamond industry news recap -August 28, 2024 - De Beers and Tanishq Partner for Diamond Promotion: De Beers and Tanishq, India's leading jewelry retailer, have announced a long-term collaboration to boost consumer education and confidence in natural diamonds. This strategic partnership aims to tap into India's growing diamond market. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/da4bf055-baa2-4624-9e2f-6f4fb4ebc9c6/4.jpg Industry Insights - Diamond industry news recap -August 28, 2024 - Israel Diamond Exchange Membership Declines: The Israel Diamond Exchange (IDE) is experiencing a shrinking membership base for the first time in its history. Factors like global recession, reduced foreign travel, and regional conflicts are cited as contributors to this trend. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/aa029a94-0c7b-4f8e-818a-acd47e724e20/5.jpg Industry Insights - Diamond industry news recap -August 28, 2024 - Saks Fifth Avenue Unveils Dazzling High Jewelry Collection: Luxury retailer Saks Fifth Avenue makes a grand entrance into the high jewelry arena with a collection boasting over 200 pieces. Featuring mega-carat diamonds in both classic and trendy styles, the collection caters to discerning clientele seeking exceptional quality and bespoke experiences. Read more https://www.owlfinancialgroup.com/industryinsights/2024/aug21 monthly 0.5 2024-08-28 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/d09c1497-a2e0-4e1e-9417-3261151906c2/1.jpg Industry Insights - Diamond industry news recap -August 21, 2024 - Diamond Tech Companies Race to Trace Goods The demand for ethically sourced diamonds is higher than ever, and diamond tech companies are scrambling to develop the most effective tracking systems. While there are several different technologies available, no single solution has emerged as the clear winner. Interoperability between different systems is also a major challenge. However, with deadlines for G7 restrictions and the EU's traceability mechanism looming, collaboration across the industry appears to be the key to success. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/6c9c3321-a0b9-4a64-9276-27a8b544a3e9/2.jpg Industry Insights - Diamond industry news recap -August 21, 2024 - A Step Closer to EU's First Diamond Mine Europe may soon have its first diamond mine! After resolving a land dispute with local farmers, a company in Ireland is moving forward with plans to develop a diamond deposit in eastern Finland. This mine is expected to produce a significant percentage of pink diamonds. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/f6ff55be-b570-4a58-8a18-90814e55eb7d/3.jpg Industry Insights - Diamond industry news recap -August 21, 2024 - Alrosa Profits Halved as Sanctions Bite The war in Ukraine continues to have a significant impact on the Russian diamond industry. Alrosa, the world's largest diamond miner by volume, saw its quarterly revenue fall by 34% in the second quarter of 2024. Sanctions imposed by the G7 and EU nations are taking a major toll on the company's operations. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/d57058b1-bf12-4687-a782-accc901fa662/4.jpg Industry Insights - Diamond industry news recap -August 21, 2024 - Jewels Stolen During Green Vault Heist Back on Display There's good news for history buffs! Most of the jewels stolen from the Green Vault Museum in Dresden, Germany in 2019 have been recovered and are now back on display. While a few pieces are still missing, the majority of the collection can once again be enjoyed by visitors. Read more https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/3055c4d6-b181-4d85-a58b-1a18d306e228/5.jpg Industry Insights - Diamond industry news recap -August 21, 2024 - 5 Special Sapphire Jewels for September September's birthstone, the sapphire, takes center stage this month! This beautiful and durable gemstone comes in a variety of colors, making it a versatile choice for any jewelry collection. Check out this list of stunning sapphire pieces to inspire your next purchase. Read more https://www.owlfinancialgroup.com/industryinsights/2024/wja monthly 0.5 2024-08-19 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/274df9fa-9369-4037-accb-c8d9010581db/Webside+announcement.png Industry Insights - Exciting News: Kathy Hillelson Joins the WJA Foundation Board! - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/583faaca-e5fd-4e6a-9067-e75a12217e93/logo+wja.png Industry Insights - Exciting News: Kathy Hillelson Joins the WJA Foundation Board! - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.owlfinancialgroup.com/industryinsights/2024/july10 monthly 0.5 2024-08-21 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1cd81c69-2f88-4a19-8fda-6c587c7dad6e/1.png Industry Insights - Diamond industry news recap -July 10, 2024 - Russia Takes the Lead in Rough Diamond Production Value: In a surprising turn of events, Russia has surpassed Botswana for the first time in terms of rough diamond production value for 2023. This is despite ongoing sanctions and a sluggish market. While the reasons behind this shift are complex, it highlights the ever-changing landscape of the diamond industry. Read more on Rapaport https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/f708d552-4f13-4732-a232-630d95d48dff/2.png Industry Insights - Diamond industry news recap -July 10, 2024 - Titan Company Feels the Pinch of High Gold Prices: Leading Indian diamond jewelry company Titan Company witnessed a slowdown in sales growth during their first fiscal quarter. This can be attributed to the rising price of gold,which dampened consumer demand, especially for gemstone-studded jewelry. Despite these challenges, Titan managed to maintain positive sales growth thanks to strategic factors and a diversified business portfolio. Read more on Rapaport https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/05ae7670-39f2-4fef-8099-3238253476da/3.png Industry Insights - Diamond industry news recap -July 10, 2024 - Spanish Police Bust Alleged "Blood Diamond Boss": In a victory for justice, Spanish authorities arrested a man suspected of trafficking "blood diamonds" from Sierra Leone. The suspect is accused of laundering money from diamonds mined under horrific conditions to fund a rebel group responsible for the country's brutal civil war. This arrest serves as a powerful reminder of the importance of ethical sourcing in the diamond industry. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/b4d6747e-2016-477b-b031-01c210e0fa67/4.png Industry Insights - Diamond industry news recap -July 10, 2024 - Tiffany Stevens Takes Helm at IGI North America: Industry veteran Tiffany Stevens has been appointed the new chief business officer and head of sustainability for the International Gemological Institute's (IGI) North American branch.Stevens brings her vast experience in leading organizations like the Jewelers Vigilance Committee (JVC) to champion gemology education, transparency, and responsible practices within the North American diamond market. Read more on JCK Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/5c5e7e65-ae14-4b79-8810-4bd8ad6252ca/5.png Industry Insights - Diamond industry news recap -July 10, 2024 - US Customs Seizes Counterfeit Jewelry Worth Millions: U.S. Customs and Border Protection (CBP) intercepted a significant haul of counterfeit jewelry at the Port of Louisville. The three packages contained fake designer pieces from renowned brands, with a combined estimated retail value exceeding $10 million if they were genuine. This incident highlights the ongoing battle against counterfeiting, which not only hurts consumers but also undermines the integrity of the diamond and jewelry industry. Read more on National Jeweler https://www.owlfinancialgroup.com/industryinsights/2024/july3 monthly 0.5 2024-07-03 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/b39343f2-d1aa-4e2e-84da-ccad4ca0dd9b/1.png Industry Insights - Diamond industry news recap -July 3, 2024 - Russian Gold Mine Acquisition by Alrosa: Russian diamond giant Alrosa strengthens its portfolio by acquiring the Degdekan gold mine, aiming to bolster financial stability. This move comes amidst ongoing Western sanctions . Read more on Rapaport https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/3c91dd60-e410-4c57-9e61-0b48905cceb8/2.png Industry Insights - Diamond industry news recap -July 3, 2024 - Lab-Grown Diamond Disrupts Wedding Plans: A cautionary tale for couples! A bride-to-be calls off her wedding upon discovering her "expensive" engagement ring was actually lab-grown. This incident highlights the growing role of lab-grown diamonds and the importance of transparency in the industry. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/20ce4867-9bbe-4ce4-a42a-2cde53b697f3/4.png Industry Insights - Diamond industry news recap -July 3, 2024 - Industry Analyst Shares Diamond Market Insights: Paul Zimnisky, a diamond industry analyst, predicts a low- to mid-single-digit demand decrease for 2024. He cites factors like rising interest rates and a "lukewarm" economy as potential hurdles for consumer spending. However, Zimnisky also points to a bright spot: limited natural diamond production could lead to higher prices in the future if demand recovers. Read more on JCK https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/e92d18c2-a760-4228-b387-1b2d4ff29fcb/3.png Industry Insights - Diamond industry news recap -July 3, 2024 - Diamond Market Slowdown Persists: The latest IDEX price report confirms a sluggish market with declining prices for rounds and fancies under 2 carats. Lab-grown diamond prices continue to fall, exerting additional pressure on the natural diamond market. Indian polished diamond exports also reflect the slowdown. De Beers' rough diamond sales hit a low point, attributing it to economic challenges in China. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/6a761341-234e-4dff-bfae-c3944462d6d4/5.png Industry Insights - Diamond industry news recap -July 3, 2024 - Jewelry Outperforms in Stalled Luxury Market: A study by Bain & Company reveals a surprising trend: jewelry remains a top performer within the luxury market despite a slowdown in other sectors. This highlights a shift towards "investment-led" purchases and a continued interest in both entry-level and high-end jewelry pieces. Read more on National Jeweler https://www.owlfinancialgroup.com/industryinsights/2024/vintage-inspired-diamond-jewelry monthly 0.5 2024-08-16 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/7b643069-bc3b-44f9-af03-b736e176ca44/let+owl+be+your+bank+.png Industry Insights - From Past to Present: The Allure of Vintage-Inspired Diamond Jewelry - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.owlfinancialgroup.com/industryinsights/2024/june26 monthly 0.5 2024-06-26 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/32a1bb9a-f793-4140-ab4f-2c504614134f/1.jpg Industry Insights - Diamond industry news recap -June 26, 2024 - EU Refines Russian Diamond Sanctions: The European Union (EU) has extended the grace period for sanctions on imported Russian diamonds by six months until March 1, 2025. This provides additional time for establishing the G7 traceability system to prevent conflict diamonds from entering the market. Read more on Rapaport https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/5d524290-e280-4c69-8bb1-10814611fbe6/2.png Industry Insights - Diamond industry news recap -June 26, 2024 - GIA Announces New Jewelry Reports: The Gemological Institute of America (GIA) is piloting a new service offering comprehensive jewelry reports. These reports detail the metal composition, gemstone characteristics, and existing engravings, providing valuable insights for consumers considering pre-owned jewelry. Read more on Rapaport https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/bf841a52-3678-495c-a977-18e083aebb57/3.png Industry Insights - Diamond industry news recap -June 26, 2024 - De Beers Sales Dip Amidst Market Challenges: De Beers, a leading diamond producer, experienced a decline in rough diamond sales during its June sales cycle. This decrease is attributed partly to sluggish economic growth in China. Despite a resurgence in US retail interest, De Beers anticipates a gradual demand recovery. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/6894533d-0071-42b8-b0bf-86cfc4eb7a37/4.png Industry Insights - Diamond industry news recap -June 26, 2024 - Natural Diamonds: Desirability is Key: A report by Boston Consulting Group (BCG) commissioned by De Beers acknowledges the uncertainties facing the natural diamond industry. While supply is expected to decrease due to limited exploration and maturing mines, maintaining consumer desire for diamonds remains a critical challenge in the face of competition from lab-grown diamonds and other luxury goods. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/46ec7ac7-9ca4-4934-9499-59e1dd37c37b/5.png Industry Insights - Diamond industry news recap -June 26, 2024 - Summer Wedding Sparkle: Bold & Beautiful (For a lighter touch) Looking to add a touch of summer flair to your wedding attire? Here's a quick trend update to get you inspired: embrace color and personal style, mix metals for a trendy vibe, make a statement with chandelier earrings, and for the gents,consider bolder bands or chunky bracelets. Shine bright this summer season! Read more on JCK Online https://www.owlfinancialgroup.com/industryinsights/2024/may16 monthly 0.5 2024-05-16 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/8283d906-7352-497b-89b1-2d1a556cd903/2.png Industry Insights - Diamond industry news recap -May 16, 2024 - De Beers: A New Chapter? In a surprising move, De Beers' parent company, Anglo American, announced plans to sell the iconic diamond miner. This strategic restructuring aims to unlock value within both businesses and allow Anglo American to focus on other core assets. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/ec5bb2a3-6978-4f91-ba7d-1cf930d13b68/3.png Industry Insights - Diamond industry news recap -May 16, 2024 - EU Sanctions and Diamonds: A Carve Out? There's a potential glimmer of hope for the diamond industry as the EU considers exempting pre-2024 rough and polished diamonds from Russia's sanctions. This could provide some relief for those impacted by the recent import restrictions. Read more on Rapaport https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/efafc980-aa6f-45d2-a076-7066ec63c71f/4.png Industry Insights - Diamond industry news recap -May 16, 2024 - Titanic Treasure Fetches Record Price: History buffs and watch enthusiasts alike were captivated by the news of a record-breaking $1.5 million sale! A gold pocket watch, recovered from the wreckage of the Titanic, fetched this impressive sum at auction. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/f3aef2f8-6b53-4ec8-894c-7b6b33eed071/5.png Industry Insights - Diamond industry news recap -May 16, 2024 - Christie's Auction Postponed Due to Tech Issue: The world of high-end auctions encountered a hurdle this week. Christie's was forced to postpone a watch auction after experiencing a website security issue. Read more on JCK Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/0f5ad8e5-b162-457a-9988-e451c278f141/6.png Industry Insights - Diamond industry news recap -May 16, 2024 - Red Diamond Makes History at Phillips Geneva: Breathtaking colored diamonds continue to captivate collectors! Phillips Geneva auction saw a fancy red diamond, aptly named "The Argyle Phoenix," break world records for price and price per carat. Read more on National Jeweler https://www.owlfinancialgroup.com/industryinsights/2024/mothersday monthly 0.5 2024-07-03 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/7b643069-bc3b-44f9-af03-b736e176ca44/let+owl+be+your+bank+.png Industry Insights - Mother's Day Jewelry Gift Ideas: A Guide for Businesses - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.owlfinancialgroup.com/industryinsights/2024/april18 monthly 0.5 2024-04-18 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/c3a9e7fa-bc9b-4d6d-a6cd-1c4b16165c76/1.jpg Industry Insights - Diamond industry news recap -April 18, 2024 - Lab-Grown Diamonds: High Margins, Lower Profits? While lab-grown diamonds might boast high margins, retailers are finding they need to sell larger volumes to maintain profits due to dropping prices. This trend highlights the importance of understanding both wholesale and retail pricing structures within the industry. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/ab3acf41-ecbb-4d1d-85f6-83e558e6d1d0/2.jpg Industry Insights - Diamond industry news recap -April 18, 2024 - De Beers Sales Indicate Market Recovery: De Beers' latest rough diamond sales figures show a positive trend, with sales increasing for the third sales cycle in a row. Although down slightly year-over-year, these figures suggest the diamond market may be on the road to rebounding after a period of sluggish demand. Read more on Rapaport https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/3f81363c-0c2a-4e5a-a647-11928cceeeae/3.jpg Industry Insights - Diamond industry news recap -April 18, 2024 - AI Enters the Diamond Hunt: Botswana Diamonds is taking a high-tech approach to diamond exploration by utilizing artificial intelligence. This technology will allow the company to analyze vast amounts of data and potentially identify new diamond deposits more efficiently. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/85e8e46e-aec8-4434-b003-e9c3f165c35b/4.jpg Industry Insights - Diamond industry news recap -April 18, 2024 - Sotheby's "Rough Diamonds" Auction Sells Out in Record Time: Sotheby's recent auction of rare and avant-garde timepieces, titled "Rough Diamonds," was a smashing success. All 24 lots found buyers within an hour, showcasing the continued strong market for unique and unconventional watches. Read more on National Jeweler https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/ee06a074-d627-4682-a909-6b95fc44905c/5.jpg Industry Insights - Diamond industry news recap -April 18, 2024 - Embrace the Green! 10 Emerald and Peridot Jewels to Celebrate Earth Day (and Every Day): From vibrant peridot to captivating emerald, green gemstones offer a timeless and symbolic representation of nature. Check out this collection of gorgeous green pieces to inspire your next purchase or simply appreciate the beauty of these natural treasures. Read more on JCK Online https://www.owlfinancialgroup.com/industryinsights/2024/march20 monthly 0.5 2024-03-20 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/f246f028-fff7-4411-a073-d806a1abc86b/1.jpg Industry Insights - Diamond industry news recap -March 20, 2024 - Sanctions and the Diamond Trade: The Rapaport Group is calling for exemptions to the sanctions on Russian diamonds, arguing that the current restrictions, while intended to put pressure on Russia, are causing unintended consequences and hurting the trade in legitimate diamonds outside of Russia. The Group has submitted recommendations to the US Office of Foreign Assets Control (OFAC) for making the rules more effective and reducing disruption to the broader diamond industry. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/735228b9-be04-4d91-b412-f3504cd639c8/2.jpg Industry Insights - Diamond industry news recap -March 20, 2024 - Innovation in Diamond Tracking: A new platform called Authentia.io has been launched to track diamonds from mine to consumer, aiming to bring greater transparency and trust to the diamond purchasing process. This blockchain-based technology promises to provide a more secure and verifiable record of a diamond's origin and journey, potentially benefiting both consumers seeking ethical stones and businesses committed to responsible sourcing. Read more on Rapaport https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/fa4e8c8d-eeb4-4da4-8989-9935ab565500/3.jpg Industry Insights - Diamond industry news recap -March 20, 2024 - G7 Sanctions Impact Antwerp: Antwerp diamond traders are experiencing week-long delays in getting shipments cleared due to the G7 sanctions on Russia. These delays highlight the logistical challenges that arise from implementing sanctions, and the Antwerp World Diamond Centre (AWDC) is working to streamline the process to minimize disruption to the legitimate diamond trade while upholding the integrity of the sanctions regime. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/9cd0456f-c6b3-4472-9765-455c1b29c5ce/4.jpg Industry Insights - Diamond industry news recap -March 20, 2024 - Greenwashing Concerns for Jewelers: Jewelers are being warned about the rise of lawsuits against companies that make misleading environmental claims. The Federal Trade Commission has guidelines that companies should follow to avoid being sued, with the advice particularly relevant as consumer awareness of sustainability grows. By adhering to these guidelines and ensuring the accuracy of their environmental marketing, jewelers can protect themselves from legal challenges and build trust with environmentally conscious consumers. Read more on JCK Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1d586a86-323f-410f-b970-ef8aa0985038/5.jpg Industry Insights - Diamond industry news recap -March 20, 2024 - Fuli Gemstones Unveils New Cut: Fuli Gemstones has unveiled a new gemstone cut called the Aura Cut, featuring 101 facets and designed to enhance the brilliance and fire of the peridot gemstone. This innovative cut, introduced at the recent Hong Kong International Diamond, Gem & Pearl Show, showcases the beauty and potential of this often-overlooked gemstone. Read more on National Jeweler https://www.owlfinancialgroup.com/industryinsights/2024/march7-dkj3h monthly 0.5 2024-03-13 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/12ecea5e-3050-4c54-83ef-9568a9f4eb36/1.jpg Industry Insights - Diamond industry news recap -March 13, 2024 - US Diamond Sanctions: Questions Remain: The recent US import restrictions on Russian diamonds raise questions about enforcement and potential disruptions in the supply chain. Unresolved details regarding "substantially transformed" stones require further clarification. The industry is closely monitoring the situation and awaiting clear guidance to ensure smooth operation and consumer confidence. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/3a39aa2e-630d-477d-8f25-e4b9d2926b38/2.jpg Industry Insights - Diamond industry news recap -March 13, 2024 - Lucapa Unearths Gemstone Giants: The Angolan mine produces two exceptional diamonds exceeding 100 carats within days of each other, marking a significant discovery. These impressive stones are sure to generate excitement among collectors and high-end jewelers worldwide. Read more on Idex Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/848be13a-c800-4a90-8f7c-6aa68ae33e31/3.jpg Industry Insights - Diamond industry news recap -March 13, 2024 - Caution Prevails as Diamond Price Index Dips: he IDEX Polished Price Index continues its downward trajectory, reflecting cautious sentiment prevalent across various industry sectors. Ongoing global economic uncertainties and concerns surrounding the potential impact of G7 sanctions on Russian diamond imports contribute to this trend. Read more on JCK Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/f9c40b2a-1336-424f-a5da-f69b24523847/4.jpg Industry Insights - Diamond industry news recap -March 13, 2024 - International Women's Day: Empowering Women in Jewelry: Jewelry brands celebrate female entrepreneurs through mentorship programs and donations, showcasing the industry's commitment to diversity and female empowerment. These initiatives create opportunities and pave the way for future generations of female leaders in the gem and jewelry world. Read more on JCK Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/2050f3ce-d359-4502-90c7-3dd348894d4d/5.jpg Industry Insights - Diamond industry news recap -March 13, 2024 - Oscars Dazzle with Glamorous Jewelry: The 96th Academy Awards red carpet showcased vibrant gemstones, layered diamond pieces, and statement brooches, emphasizing timeless elegance and a touch of history. Celebrity stylists and designers used jewelry to elevate their clients' looks and create a truly unforgettable night. Read more on National Jeweler https://www.owlfinancialgroup.com/industryinsights/2024/banksvsassetbased monthly 0.5 2024-05-07 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/7b643069-bc3b-44f9-af03-b736e176ca44/let+owl+be+your+bank+.png Industry Insights - Navigating Finance: Traditional Banks vs. Asset-Based Lending in the Diamond Industry - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.owlfinancialgroup.com/industryinsights/2024/march7 monthly 0.5 2024-03-07 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/aec9000d-3d48-498f-826a-191199b0a15f/1.jpg Industry Insights - Diamond industry news recap -March 7, 2024 - US Customs Tightens Diamond Import Regulations: The industry grapples with new US Customs guidelines requiring self-certifications for all imported diamonds exceeding one carat. This includes "Russian Source" diamonds, even if cut outside Russia. Both exporters and importers face potential complexities and logistical hurdles in adhering to these new regulations. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/2c3efe22-222d-43e3-b429-4dbc0a80a17d/2.jpg Industry Insights - Diamond industry news recap -March 7, 2024 - IDEX Unveils Platform Upgrade and Groundbreaking Financing Option: Embracing innovation, IDEX announces a significant upgrade to its platform, featuring a modern user experience, streamlined workflows, and enhanced features based on valuable customer feedback. Additionally, IDEX introduces a groundbreaking "IDEX Financing" feature, marking the industry's first offering of complementary financing options for its general customer base. Read more on Idex Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/2c78a37c-48b5-46fc-81da-b5d4b99b0052/3.jpg Industry Insights - Diamond industry news recap -March 7, 2024 - Caution Prevails as Diamond Price Index Dips: he IDEX Polished Price Index continues its downward trajectory, reflecting cautious sentiment prevalent across various industry sectors. Ongoing global economic uncertainties and concerns surrounding the potential impact of G7 sanctions on Russian diamond imports contribute to this trend. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/f927e3df-32cf-43d1-b953-def692747aea/4.jpg Industry Insights - Diamond industry news recap -March 7, 2024 - Lab-Grown Diamonds: Are We Witnessing a Turning Point?: A thought-provoking article explores potential parallels between the current state of the diamond industry, particularly the lab-grown diamond segment, and the past experiences of the media industry. The article ponders whether the lab-grown diamond market might be entering a "pivot" phase, similar to the shift witnessed in the media landscape with the rise of digital platforms. The article highlights concerns about declining prices for lab-grown diamonds and potential changes in consumer preferences as factors contributing to this potential shift, prompting reflection and analysis of the industry's potential evolution. Read more on JCK Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/3ade8d4b-6d45-4832-bd73-4e7bc86f5c87/5.jpg Industry Insights - Diamond industry news recap -March 7, 2024 - Rolex Maintains Dominance, MoonSwatch Steals the Show: The highly anticipated annual report on the Swiss watch industry reveals that Rolex continues to reign supreme, achieving a 9% increase in turnover, translating to a retail value of approximately $17.2 billion in 2023. Notably, Rolex boasts a staggering 30% share of the global market. However, the report also throws a curveball: the immense popularity of the Swatch Group's MoonSwatch. This affordable timepiece inspired by the Omega Speedmaster Moonwatch has witnessed phenomenal demand, potentially signifying a shift in consumer preferences towards more accessible luxury options. Read more on Watch Pro https://www.owlfinancialgroup.com/industryinsights/2024/shesaidno monthly 0.5 2024-03-07 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/3e251c8f-5cd1-4206-80a8-7665c6ba341b/1.png Industry Insights - Kathy Hillelson, CEO of Owl Financial Group, Celebrated in World Diamond Council Series In her feature, Kathy Hillelson recounts her journey, traversing from the realm of advertising to the intricate world of financing, all while maintaining a profound connection to the diamond sector. Undeterred by the male-dominated landscape or the shadow of being "the boss's daughter," Kathy embraced the challenge with fervor, determined to showcase her capabilities and expertise, establishing herself on the basis of merit and resilience. https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/e408050b-a65d-48aa-9146-da45d81695ba/2.png Industry Insights - Kathy Hillelson, CEO of Owl Financial Group, Celebrated in World Diamond Council Series "I would like to express my sincere gratitude to the World Diamond Council for featuring my story in their 'Women of the Diamond Industry' series," remarked Kathy. "It was truly an honor to be recognized alongside such inspiring women who are shaping the future of this industry. Sharing my journey, from my father's footsteps to building Owl Financial Group, LLC, was a privilege. The WDC’s platform for amplifying women's voices is invaluable, and I'm proud to be a part of it. Together, we can encourage and empower others as well as build a more inclusive, stronger diamond industry. I would not have achieved this without the amazing support and guidance along the way. Thank you, WDC, for this opportunity to promote diversity and inclusion in our industry." https://www.owlfinancialgroup.com/industryinsights/2024/february28 monthly 0.5 2024-02-29 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/cc035da9-a0dd-4179-9d2d-e967675b81e6/1.png Industry Insights - Diamond industry news recap - February 28, 2024 - France Mandates "Synthetic" Label for Lab-Grown Diamonds: The French government has ruled that all lab-grown diamonds must be labeled as "synthetic." This decision is seen as a victory by the natural diamond industry, aiming to differentiate between mined and man-made stones. This regulation aims to bring clarity and transparency to diamond labeling in France. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/9b1c401e-f21f-4a11-878b-44c6cafb8335/2.png Industry Insights - Diamond industry news recap - February 28, 2024 - Lab-Grown Diamond Prices Could Fall Further: An industry expert predicts that lab-grown diamond prices could drop by another 80%, widening the gap with natural diamonds. This highlights the ongoing price competition within the diamond market. Lab-grown diamond prices might experience significant drops, impacting the market landscape. Read more on Idex Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/0cc362c8-df8c-4670-b1ea-d69314cba45b/3.png Industry Insights - Diamond industry news recap - February 28, 2024 - Swiss Court Defines Legality of Customized Rolex Watches: Switzerland's highest court has ruled that customizing a Rolex watch for a specific client is legal. However, generally marketing modified Rolex watches remains prohibited. This decision provides clarity on intellectual property rights and customization practices within the luxury watch industry. The Swiss court ruling offers guidance on acceptable practices for customizing and selling Rolex watches. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/aede64ea-d88d-4953-8af0-3808199023cc/4.png Industry Insights - Diamond industry news recap - February 28, 2024 - De Beers' Value Written Down Due to Lower Demand: Anglo American, De Beers' parent company, has written down De Beers' value by $1.6 billion. This is primarily attributed to lower-than-expected consumer demand, potentially linked to economic uncertainties in the US and China. De Beers' valuation reflects a cautious outlook due to potential softening in consumer demand. Read more on JCK Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/284cdd67-b265-43ad-bb9c-2d75da363e4b/5.png Industry Insights - Diamond industry news recap - February 28, 2024 - Tech on the Rise: De Beers Unveils Automated Diamond Sorter Marking a significant advancement in diamond processing efficiency, De Beers Group Ignite introduced the AMS Micro, a high-throughput melee screener. This innovative technology analyzes thousands of diamonds per hour, automatically separating natural stones from lab-grown variations and other materials. This development has the potential to revolutionize the sorting process, streamlining it and enhancing accuracy, which ultimately benefits both diamond producers and consumers. Read more on JCK Online https://www.owlfinancialgroup.com/industryinsights/2024/february7-xnsyr monthly 0.5 2024-02-28 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/4f72207b-521f-4c20-b74c-15c891f3ed1d/1.png Industry Insights - Diamond industry news recap - February 21, 2024 - Retail Sales See Post-Holiday Slump, But Diamonds May Still Shine Retail Sales See Post-Holiday Slump, But Diamonds May Still Shine: While US retail sales slipped in January compared to December, this could be attributed to the usual post-holiday lull and a shift in consumer spending towards services. While some may interpret this as a potential decrease in demand for diamond jewelry, others believe the industry's resilience and strategic marketing could mitigate any significant impact. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/e6144f6d-9735-440c-b44b-5b8dc9ac0590/2.png Industry Insights - Diamond industry news recap - February 21, 2024 - South Africa's Small-Scale Diamond Mining: A Balancing Act Between Opportunity and Sustainability South Africa's Small-Scale Diamond Mining: A Balancing Act Between Opportunity and Sustainability:Beyond the glimmer of unearthed diamonds lies a complex reality for South Africa's small-scale diamond mining sector. This article delves into the challenges these miners face, from limited resources and safety concerns to fluctuating market prices. Yet, amidst these struggles, there are glimmers of hope. Initiatives like the "Communal Artisanal Miners Diamond Jig Sorting House" aim to create a more transparent and sustainable ecosystem for these miners, emphasizing responsible practices and fair market access. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/cd8422ad-3acb-4702-9cb9-2aa794a10769/3.png Industry Insights - Diamond industry news recap - February 21, 2024 - Grading Goes Global: GIA Expands Its Reach in a Changing Landscape: The Gemological Institute of America (GIA) recently established a new grading lab in Dubai, strategically positioning itself to serve the thriving diamond market in the Middle East. This move follows the closure of their Antwerp lab in 2022, highlighting the dynamic shifts within the industry. The Dubai lab reflects GIA's commitment to providing reliable and globally recognized grading services, contributing to the overall transparency and trust within the diamond trade. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/370870c2-fb42-47c4-903a-9ca9ef275069/4.png Industry Insights - Diamond industry news recap - February 21, 2024 - Luxury Unveiled: Where Diamonds Meet Automotive Finesse Stepping into the realm of high-end opulence, Mercedes-Benz's limited-edition G550 model boasts a unique feature – each door lock pin adorned with a 0.25-carat diamond. This extravagant detail caters to a specific clientele seeking to elevate their car ownership experience beyond mere functionality. Beyond this specific example, the continued use of diamonds in luxury goods reinforces their enduring image as symbols of status and exclusivity. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/14fba931-8202-42d4-a869-dfd42d52400a/5.png Industry Insights - Diamond industry news recap - February 21, 2024 - Tech on the Rise: De Beers Unveils Automated Diamond Sorter Marking a significant advancement in diamond processing efficiency, De Beers Group Ignite introduced the AMS Micro, a high-throughput melee screener. This innovative technology analyzes thousands of diamonds per hour, automatically separating natural stones from lab-grown variations and other materials. This development has the potential to revolutionize the sorting process, streamlining it and enhancing accuracy, which ultimately benefits both diamond producers and consumers. Read more on JCK Online https://www.owlfinancialgroup.com/industryinsights/2024/february7 monthly 0.5 2024-02-07 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/d76dbb13-d485-44a7-9071-dc2a95184a11/1.png Industry Insights - Diamond industry news recap - February 7, 2024 - GIA helps recover stolen diamonds: The Gemological Institute of America (GIA) helped recover two stolen diamonds, each over 4 carats, that were stolen from a home in Colorado. The diamonds were recovered after a wholesale diamond dealer sent them to the GIA for grading. The GIA matched the stones to their reports and alerted law enforcement, which led to an arrest. This is a great example of how the GIA's expertise can be used to help protect consumers from fraud. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/40f7ee49-3ff4-4144-90ac-545723a09287/2.png Industry Insights - Diamond industry news recap - February 7, 2024 - Undisclosed lab-grown diamonds on the rise: There has been a recent increase in undisclosed colored lab-grown diamonds being sold as natural diamonds. The Gemological Science International (GSI) has issued a warning to the jewelry trade about this trend. These diamonds are often mixed in with natural colored diamonds and can be difficult to detect, even by experts. This is a reminder to be careful when buying diamonds and to only purchase from reputable jewelers Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1efc979c-f779-4b36-bc26-283d13e823b7/3.png Industry Insights - Diamond industry news recap - February 7, 2024 - Fancy colored diamonds continue to grow in popularity: There has been a recent increase in undisclosed colored lab-grown diamonds being sold as natural diamonds. The Gemological Science International (GSI) has issued a warning to the jewelry trade about this trend. These diamonds are often mixed in with natural colored diamonds and can be difficult to detect, even by experts. This is a reminder to be careful when buying diamonds and to only purchase from reputable jewelers. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/ba4fef4c-2727-44e4-8e8b-c41784659a40/4.png Industry Insights - Diamond industry news recap - February 7, 2024 - Statement necklaces were a major trend at the Grammy Awards: Celebrities at the Grammy Awards sported some truly eye-catching jewelry, with necklaces being a major trend. Some of the most notable looks included Taylor Swift's watch choker by Lorraine Schwartz and Doja Cat's diamond cross necklaces by Loree Rodkin. Read more on JCK Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/c1c893a7-d032-42d3-b93c-565cd39df57a/5.png Industry Insights - Diamond industry news recap - February 7, 2024 - Consumer confidence reaches highest level since December 2021: The Conference Board's Consumer Confidence Index rose to 114.8 in January, marking the third consecutive monthly increase and the highest level since December 2021. This increase is attributed to slower inflation and anticipation of lower interest rates. Consumers are still concerned about rising prices, but their expectations fell to a three-year low. Read more on National Jeweler https://www.owlfinancialgroup.com/industryinsights/2024/valentinesday monthly 0.5 2024-02-29 https://www.owlfinancialgroup.com/industryinsights/2024/february1 monthly 0.5 2024-02-01 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/37735227-1da0-48ee-bf41-da78194861b1/1.jpg Industry Insights - Diamond industry news recap - February 1, 2024 - Diamond Industry Gears Up for Tighter Controls The diamond industry is bracing for significant change in 2024, as new sanctions on Russia will fast-track the adoption of traceability programs across the supply chain. The Group of Seven (G7) wants to limit Russia’s ability to fund its war in Ukraine by restricting diamond sales. They will require companies to prove that their diamonds were not sourced from Russia. This will likely increase the cost of diamonds, and the industry is concerned about the feasibility of implementing this system. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/3dbd8518-9946-4717-af26-b4666fb72af1/2.jpg Industry Insights - Diamond industry news recap - February 1, 2024 - Valentine’s Day Jewelry Spending to Hit New Record US shoppers are expected to spend a record $6.4 billion on jewelry this Valentine’s Day, according to the National Retail Federation (NRF). This makes jewelry the biggest spending category for the holiday, ahead of flowers, clothing, and an evening out. The increase is due to a number of factors, including the fact that more people are celebrating the holiday and that they are planning to focus their spending on their significant others. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/a926308f-93bb-4ba5-aa55-d0b49cae514e/3.jpg Industry Insights - Diamond industry news recap - February 1, 2024 - Super Bowl “Almost Champions” Get Lab-Grown Diamond Rings The losing team in Super Bowl LVIII will receive “M&M’s Almost Champions Rings of Comfort” made with lab-grown diamonds from M&M’s peanut butter candies. This is a new tradition, as only winners traditionally received Super Bowl rings. M&M’s is not the first food company to make jewelry out of their food; Taco Bell and Burger King have also done so. Read more on JCK Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/013e813e-8748-4024-9c1e-52f7e86a20a8/4.jpg Industry Insights - Diamond industry news recap - February 1, 2024 - Lucapa’s Diamond Sales Increase Slightly in 2023 Lucapa’s total rough diamond sales increased by 1% to $102.2 million in 2023. The company recovered two large, high-value diamonds from its Lulo mine in Q4. However, performance at its Mothae mine was impacted by a lower dollar per carat average. The overall diamond price index began to trend upwards towards the end of 2023. Read more on IDEX Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/378a9a2c-71d4-49f0-8927-cfe9508da60d/5.jpg Industry Insights - Diamond industry news recap - February 1, 2024 - Louis Vuitton Unveils New Diamond Cut Louis Vuitton has introduced a new diamond cut called the Monogram Star, which is based on the brand’s iconic pattern. The cut will be used in rings, earrings, and pendants. It is a homage to the historic LV Monogram pattern, designed by Georges Vuitton in 1896. Read more on The Israeli Diamond https://www.owlfinancialgroup.com/industryinsights/2022/6/23/a-time-for-change-gwdb7-jebpp-34te5-3fyed-wghxa-65p3f-adjkl-eypf2-crc39-ryr7y-fhwyx-4jwfs-ydb3d monthly 0.5 2024-02-01 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/12cb1131-1dbd-4fcd-afe8-1fe3662e1fe4/1.jpg Industry Insights - Diamond industry news recap - January 24, 2024 - India Trade Seeks Tax Reduction on Polished Diamonds, Gold India's diamond industry is lobbying the government to slash import duties on polished diamonds, arguing that it would solidify the country's position as a global trading hub. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/652961dd-959c-4cb5-8e47-caf63ae6eeab/2.jpg Industry Insights - Diamond industry news recap - January 24, 2024 - Diamonds Do Good Reveals New Board The non-profit Diamonds Do Good has appointed Kathy Corey as president of its board, bringing fresh perspectives to the organization. Read more on RAPAPORT https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/f84f439a-137f-4177-93f0-bfd84a52f37d/3.jpg Industry Insights - Diamond industry news recap - January 24, 2024 - SCS Wants to Rate Colored Stones on Sustainability Sustainability is a growing concern in the colored gemstone industry, and SCS Global Services is exploring the development of a rating system similar to its existing program for diamonds. Read more on JCK Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1583196e-618f-4a64-8b45-49b7ecdc43c4/4.jpg Industry Insights - Diamond industry news recap - January 24, 2024 - Registration Open for 2024 JCK Show in Las Vegas Registration is now open for the 2024 JCK Show in Las Vegas, offering jewelers and industry professionals a chance to connect and discover the latest trends. Read more on JCK Online https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/9bd183be-2eb9-4ee2-951c-d7485a1a0a30/5.jpg Industry Insights - Diamond industry news recap - January 24, 2024 - Sarine's New Planning Software "Adds 5% to Polished Value" Sarine Technologies is unveiling its Most Valuable Planning (MVP) software, which it claims can add up to 5% to the value of polished diamonds through optimized rough planning. Read more on IDEX Online https://www.owlfinancialgroup.com/industryinsights/2024/owlxcenturion monthly 0.5 2024-01-17 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/627bbdfd-7b10-4d0a-a1e3-778438798ac9/55.png Industry Insights - Owl Financial Group and Centurion Jewelry Show – Your Gateway to Success! - Why Centurion Jewelry Show? The Centurion Jewelry Show is one of the world’s premier jewelry trade events, and is known as “the better retail jeweler’s favorite trade show”. Now in it’s 24th year, Centurion is invitation-only and features only the whos-who of the jewelry industry. Come enjoy 4 days of business among the biggest and best jewelry brands and independent jewelers in the country and beyond. https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/03fb5018-cd97-46e5-92ef-c5636b2b7470/%27.png Industry Insights - Owl Financial Group and Centurion Jewelry Show – Your Gateway to Success! - How Can Owl Assist You? Preparing for Centurion? We’ve got you covered! Owl Financial Group can provide quick access to funds without the hassle of credit checks. Have dead inventory in the form of jewelry or diamonds? Let us help you turn them into valuable assets. 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ALTERNATIVE FINANCING FOR THE DIAMOND AND JEWELRY INDUSTRY - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.owlfinancialgroup.com/industryinsights/2022/6/23/a-time-for-change-gwdb7-jebpp monthly 0.5 2023-07-13 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1657211555316-IAD4TKWX7DS7Z4IB2UTG/08A6CCBA-8A68-4168-B89F-24245A563757.jpeg Industry Insights - “Reinvent your inventory” - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.owlfinancialgroup.com/industryinsights/2022/6/23/a-time-for-change-gwdb7 monthly 0.5 2023-07-13 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1657210074603-TG9QQ3OVVH5TZ729WMCM/455EDFEA-96D3-4516-8C2A-5C3E200CF79E.jpeg Industry Insights - REFERRAL PROGRAM - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.owlfinancialgroup.com/industryinsights/2022/6/23/a-time-for-change monthly 0.5 2023-07-13 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1656010092863-5AK1RK2FL6Y9PGQGGA1M/198B68D6-8A9A-44BD-8AD4-11C5F7A39ACD.jpeg Industry Insights - Diamond industry global market situation. - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.owlfinancialgroup.com/industryinsights/2022/6/23/a-time-for-change-kcz7m monthly 0.5 2023-07-13 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1656010092863-5AK1RK2FL6Y9PGQGGA1M/198B68D6-8A9A-44BD-8AD4-11C5F7A39ACD.jpeg Industry Insights - A TIME FOR CHANGE - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.owlfinancialgroup.com/industryinsights/2019/8/2/where-to-go-when-banks-stop-lending-to-the-diamond-industry monthly 0.5 2019-08-02 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1564754517431-KLXOVPIPJRWTVL7BS7LJ/final+1.png Industry Insights - Where to go when banks stop lending to the Diamond Industry. https://www.owlfinancialgroup.com/industryinsights/2019/7/12/lab-grown-diamonds-and-its-place-in-the-industry monthly 0.5 2019-08-02 https://images.squarespace-cdn.com/content/v1/59a70fa98dd041ec3b771e28/1562951475787-Z63AOUT1OF55LJADZKYJ/gemologist+111.png Industry Insights - 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