Gemfields' Rubies Hit Record High Price
December 12, 24
Gemfields achieved a record high price of $322 per carat at its latest series of mixed-quality rough ruby auctions. The UK-based gemstone miner said the auction represented a "positive outcome under the current market conditions"... Read More...
Botswana Economy Hit by Diamond Slump
December 12, 24Botswana is braced for its worst economic downturn since the Covid crisis, amid the ongoing slump in demand for diamonds. Finance Minister Ndaba Gaolathe this week warned that it could contract by 1.7 per cent this year as a direct result ... Read More...
Burmese Ruby Smashes Estimate, Sells for $5.5m
December 12, 24A 10.33-carat Burmese ruby and diamond ring smashed its $2m high estimate and sold for $5.5m at Sotheby's New York. The cushion-cut ruby, described as having a "pigeon blood" hue, is flanked by two pear-shaped D-color diamonds weighing... Read More...
Jeweler Accused of Selling Cocaine at Store
December 11, 24The owner of a US jewelry store has been arrested on suspicion of selling cocaine. Pedro Martinez, 54, is accused of using the premises of his Three J Jewelers, in Florida, for the sale and trafficking (supplying over an ounce) of the drug. Officers from... Read More...
Postal Warning over "Free Diamond Rings"
December 11, 24Residents in the US are being sent unsolicited "diamond rings" in what's known as a "brushing scam". They receive a red jewelry box in the mail containing what turns out to be a fake diamond ring, together with a QR code for them to "register" the... Read More...
Memo by John Jeffay
December 12Think diamonds, think jewelry. OK, so some are used in industry to cut and grind stuff. But diamonds have been prized for their beauty more than their hardness or any other property. That's now changing. Partly because diamonds grown in a lab are now so readily... Read More...