News
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Oct- 2016 -11 October
Iconic 100 Hatton Garden building to be sold by the end of the year
A Singaporean investment company, UOL Group, will acquire the 120 Holborn site in Hatton Garden by the end of the year. The site incorporates the iconic 100 Hatton Garden building, which houses many jewellery businesses including the London Diamond Bourse (LDB), along with retail units along Hatton Garden. UOL announced…
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11 October
Jewellery and watch profits up 4% for LVMH
The jewellery and watches division of luxury goods group (LVMH) has reported a 4% increase in revenues for the first nine months of the year. The division was boosted by a strong performance from Bvlgari, which continued to gain market share. The brand showed “major creative” momentum by enhancing its…
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11 October
Deadline for Make Your Mark Awards draws near
Submissions for the inaugural Make Your Mark Awards are set to close next week on Friday, 21 October at 5pm. Entrants to the awards, which is run by The Goldsmiths’ Company Assay Office, will have the opportunity to win various prizes as well as having their work seen by a…
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11 October
‘Extremely rare’ blue diamond Cartier ring could fetch £20.3m
Sotheby’s has announced it will auction an “extremely rare” fancy-vivid blue diamond ring by Cartier, which could fetch up to $25m (£20.3m). ‘The Sky Blue Diamond’ will be one of the star lots at Sotheby’s Geneva Jewellery sale on 16 November and will be exhibited in the auction house’ New…
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10 October
Brexit strategy ‘must focus on fair deal for consumers’, says BRC
The British Retail Consortium (BRC) has called on the government to put consumers first in the forthcoming Brexit talks. In a letter to Secretary of State for International Trade Liam Fox, the BRC said the government’s strategy must focus on finding opportunities for lowering import costs as well as avoiding…
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7 October
Beaverbrooks to support Payroll Giving campaign
Beaverbrooks the Jewellers has announced its support for the launch of a new phase of the Geared for Giving campaign. The campaign, which is calling for every employer in the UK with over 250 employees to offer Payroll Giving to their staff, aims to double the amount raised for charities…
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7 October
First drop in gold price since Brexit ‘likely to spur jewellery demand’
The price of gold has fallen for the first time since the Brexit announcement in June, dropping 3% to $1,300 per ounce on 4 October. Consumers and investors may see the price decline as a good buying opportunity, according to the latest report from the World Gold Council (WGC). It…
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6 October
Diamond prices stable in September
The diamond market was steady in September with better-than-expected sentiment at the Hong Kong Jewellery & Gem Fair. The latest RapNet Diamond Index (RAPI) from the Rapaport Group found the polished market was supported by “relatively high” rough prices as suppliers held polished prices firm, preferring to delay sales rather…
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5 October
UK jewellers consider legal challenge to BAO over Indian hallmarking
A group of jewellers and silversmiths in the UK are considering a legal challenge to the Birmingham Assay Office over its practice of using UK hallmarking overseas. The news comes after the Birmingham and Sheffield Assay Offices’ marks have been approved by the British Hallmarking Council for use in their…
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4 October
De Beers’ rough diamond sales ‘ahead of expectations’
The De Beers Group of Companies has reported that sales of rough diamonds were “ahead of expectations” in its eighth sales cycle of the year. Provisional sales for the company’s eighth sales cycle of 2016 stood at $485m (£379m). This was down on the $639m (£500m) raised in its seventh…
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