Sometimes people say reporters focus only on bad news, so I will note that I’ve heard almost uniformly positive reviews for the Basel show, which means possibly that things are waking up a bit. There didn’t seem to be many American buyers, but Basel is not generally considered an indicator of the American market. It’s safe to say things are still pretty slow in the U.S., as everyone gets ready for Vegas. There are mixed predictions about how Vegas will be: Some people think that retailers have been spending so little this year they’ll just have to replenish; others think it will be as weak as the year has been (and there are rumors of big names not coming). I am hopeful; a lot of money is being pumped into this economy. We’ll see, pretty soon …
And now the news:
– could “prosper in downturn.”
– Rebound “unlikely.”
De Beers announces price increases.
– Charles is confused.
– Reuters write-up.
Avi Taub indicted.
– Chopard warns of false diamond requests.
– Hong Kong jewelry chain owner convicted.
Consumers don’t see jewelry value. Very true.
House of Taylor faces NASDAQ delisting.
BIDZ repurchases shares.
Namibia seeks better De Beers deal.
GCAL wins ISO accreditation.
– IGI’s “eco-friendly” reports.
MVI Acquires interest in ITECH.
Ashlee Simpson’s fiancé avoids conflict diamonds. Also wears t-shirt: “Coltan is a conflict diamond.” Plus, check out this article: Clearly in the finals for the cherished Cutting Remarks Stupidest Article Ever Award. Can’t someone do something about those coltan diamonds!?!?!?! (P.S. This is wrong, too.)
NY Times article on cancelled Christie’s auction.
Forbes: Stephen Lussier on diamonds and Botswana.
Trader’s Daily on Rapaport’s futures plan.
London Times article on big diamonds seems to contradict headline.
From the Blog:
Have a great weekend …