GemFind Weekly Newsletter March 21st, 2017

March 21, 2017
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De Beers Buys Out LVMH, Now Owns All of Retail Chain
JCK                     March 21

The diamond giant and luxury giant have been 50-50 partners in the joint venture since it was first announced in 2001. The chain, meant to take advantage of consumer awareness of the De Beers name, opened its first store in London that year. 

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Dominion Diamond Receives $1.1Bn Offer From Billionaire Dennis Washington
IDEX                             March 21

Billionaire Dennis Washington has gone public with a $1.1 billion offer for Canada’s Dominion Diamond Corp. following weeks of private talks which are stalemated. Washington Cos. proposed $13.50 a share for Dominion Diamond last month, but Dominion’s board has stalled on the offer, 

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Rapaport to India: Scrap Diamond Import Tax

 Diamonds.net            March 20

“American demand will grow significantly due to new economic policies, and the U.S. government will insist on a level playing field,” he added, citing President Donald Trump’s policy of leveraging American power to rebalance what he considers to be unfair trade ties with large export nations such as China.

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JEWELRY-LINKED CRIMES IN THE US RISE 6% IN 2016  The Israeli Diamond Industry    March 21 

The Jewelers Security Alliance’s (JSA) annual report shows that the total number of crimes committed against US jewelry firms reported to JSA increased from 1,177 in 2015 to 1,245 in 2016 – an increase of 5.8%.  

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Please visit GemFind at the AGS Conclave. GemFind is a benefit provider for AGS and would love to meet you and evaluate your overall online strategy. Please schedule your appointment here for a FREE online presence review. Your participation at the show will also register you for a drawing to win a FREE tablet computer. 

Are Malls Dying?
Rob Bates           JCK            March 16
It has become an article of faith that mall traffic is down, from Signet to  Victoria’s Secret to Gap. And while it’s hard to get solid data on this­—ShopperTrak told me it longer offers it—no one doubts traditional shopping malls face tricky days ahead.
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59-Carat ‘Pink Star’ Diamond Could Fetch At Least $60 Million In Sotheby’s Second Attempt To Sell It

Jewelry News Network        March 20

“The Pink Star” diamond will be given a second chance to smash world auction records. The Largest Internally Flawless Fancy Vivid Pink diamond ever graded by the Gemological Institute of America will be placed on the auction block for the second time at Sotheby’s Hong Kong Magnificent Jewels and Jadeite sale on April 4.

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Softly does it: the allure of unusual coloured diamonds
The Jewellery Editor          March 13 

Some of the most memorable gems The Jewellery Editor team saw at Paris Couture Week were De Beers’ Master Diamonds in unusual hues, from Fancy Dark Brown Yellow to Fancy Greenish Yellow. But most arresting was a 4.27-carat Fancy Grey marquise-cut diamond with a hint of blue set into a ring, below.

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‘A gift from God’: Sierra Leone pastor finds 706-carat diamond then hands it over to government

National Post      March 16

The gem, a bit smaller than a hockey puck, is the second largest diamond found in Sierra Leone. In 1972, the 968.9-carat Star of Sierra Leone was found by miners and sold for about $2.5 million. It is believed to be the 13th-largest uncut diamond ever to be pulled from the ground, industry analysts say.

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Gold continues Fed enhanced Rally 
 Art of Jewellery      March 21
For the fourth consecutive day, gold prices have closed higher, now trading to a 2 ½ week high. Gold futures today rose roughly 3 dollars to close at $1233 per ounce. This a continuation of the dramatic rise in gold prices witnessed on Wednesday of last week, immediately following the conclusion of this month’s FOMC meeting. Read More

JewelCloud Member Spotlight 

Allison-Kaufman is one of the oldest and most respected diamond jewelry artisans in the US. For three generations, Allison-Kaufman has earned its reputation as one of the world’s finest jewelry manufacturers.  >>>>

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Lucara Diamond To Hold First 2017 Exceptional Stone Tender in May
The Diamond Loupe            March 20
Lucara Diamond has announced the dates for its first Exceptional Stone Tender of 2017 from its 100% owned Karowe Mine in Botswana. Viewings for the tender will take place from May 3, 2017 through May 11, 2017 with the sale closing at 4:00pm CET on May 11, 2017, Read More
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