First off, no, this isn’t the shortest Diamond Shavings ever. The people who designed this blog tool now cut off our posts after a certain point on the main blog page. Click “read more” and you will see this post (and all the others for that matter) in its glorious entirety. I don’t know why they did that, but the blog Lords work in mysterious ways.
Secondly, I may have been too optimistic about holiday sales last week. Check out the pretty downbeat reports below.
Also, as Monday is the big sightholder decision D-day, I will probably spend a lot of time on the 17th figuring out who is on or off the list. To make things easier, if you’re a sightholder, or anyone else with good info, feel free to email me: rbates – at- reedbusiness.com. Hopefully I can get something on here as the day develops.
Anyway, here is the news:
Holiday reports (Jewelry/luxury)
– Gassman/Idex: “Modest” holiday for majors.
– Also Gassman: Sterling has credit woes. Uh-oh.
– JCOC says Black Friday jewelry purchases down.
– Luxury customers more price conscious (Video.)
– On the plus side, Overstock.com says diamond business is booming.
Quote of the week (from a diamond manufacturer): “We used to say it was Christmas in July. Now it’s July at Christmas.”
Christmas jewelry made in sweatshops? Oy.
Rio Tinto to BHP: OK, you had your fun. Now leave us alone.
– BHP mulls next step. May go hostile.
– More speculation about diamond holdings in a merger.
– Report that Blackstone will bid for Rio Tinto most likely bogus.
Journey jewelry has sold $1.5 billion.
Arkansas park produces 1000th diamond – and millionth news story.
Have a great weekend …