De Beers Sale: Botswana Plus One or Two Buyers
October 13, 25
Anglo American CEO Duncan Wanblad says the sale of De Beers will involve one or two shortlisted buyers alongside the government of Botswana, rather than the usual two-round selection process. Wanblad told the Financial Times Metals and Mining Summit... Read More...
Two Arrested over $540,000 Online Diamond Fraud
October 13, 25Two men have been arrested in India, accused of a sophisticated online fraud in which they obtained diamonds worth $542,000 (Rs 4.80 crore). They and their accomplices allegedly posed as genuine US-based buyers on the RapNet trading platform... Read More...
Burgundy Halts Some Rough Sales over "Finance Breach"
October 13, 25Loss-making Burgundy Diamond Mines has suspended sales of rough diamonds to one of its biggest shareholders, over concerns that it breached Australian Securities Exchange (ASX) rules. The company, based in Perth, Australia, received AUD 24.9m (USD 16.2m) ... Read More...
Swiss Government Extends Aid to Watchmakers
October 12, 25Switzerland has extended the terms of its short-time work compensation scheme for watchmakers, after the US introduced a 39 per cent tariff on their goods from August. Companies initially sought government help after global demand slumped during the... Read More...
Best Jewelry and Watch Results at Sotheby's Paris for Seven Years
October 12, 25Sotheby's sales of fine jewelry and watches in Paris raised over $10.9m (EUR 9.3m) last week - the best results for the twin events since 2018. It was the fourth consecutive white glove sale - an auction in which no lot is left unsold - for fine watches, and nearly ... Read More...
Memo by John Jeffay
October 09There are Fabergé eggs, and there are Fabergé eggs. The originals (there were just 50 of them) were the preserve of Russian royalty. They were the ultimate Easter gift, presented by the tsar to his wife or mother. Money was no object. They were designed and Read More...