Watches of Switzerland: US Surge Drives Sales to $2.4bn
May 18, 26
Watches of Switzerland (WoS) reported a 13% increase in annual sales to $2.4 billion, driven largely by strong momentum in its US retail business. Over the 12 months to the end of April, US sales rose 24% in constant currency (18% reported), and now... Read More...
India Hikes Gold Tariff from 6% to 15%
May 18, 26India has more than doubled tariffs on gold and silver - up from 6% to 15% - in a move aimed at easing pressure on its foreign exchange reserves. The increase took effect on 13 May, just three days after Prime Minister Narendra Modi called on people to stop buying... Read More...
Ocean Dream Sells for a Record $17.3m
May 17, 26The Ocean Dream, a 5.50-carat fancy vivid blue-green diamond, sold for a record $17.3 million at Christie's Geneva. It was a record price for a stone of its color and intensity - way above $9 million to $13 million pre-sale estimate and double the $8.65 million... Read More...
Chaos and Tear Gas as Swatch Launches AP Watch
May 17, 26The launch of Swatch's latest watch collection - a collaboration with Audemars Piguet (AP), triggered scuffles, arrests, and temporary store closures as shoppers fought to get their hands on the $400 timepieces. Outside a Swatch store near Paris, police... Read More...
Sporting First: Relay Athletes Win Diamond Medals
May 14, 26Medals awarded to the 120 winners at the World Athletics Relays in Botswana were all embedded with a locally-sourced diamond. It was the first time in the event's history that traditional gold, silver, and bronze medals were set with a diamond. The gems... Read More...
Memo by John Jeffay
May 14All is not well in the world of diamond mining. Owners of Ekati, in Canada's Northwest Territories filed for insolvency protection last week, just months after agreeing almost $130 million in federal loans. In South Africa, the troubled Ekapa mine is up.... Read More...