News

£1.6bn of jewellery lost in Britain’s sewers

As much as £1.6bn worth of jewellery may have disappeared down Britain’s drains over the years, according to new research from drainage specialist Lanes Group. The YouGov survey of 2,011 adults found that 14% of Britons had personally lost a piece of jewellery to a drain, with an average value…

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RapNet suspends members suspected of falsifying GIA reports

RapNet, the diamond trading network from Rapaport, has suspended 10 members pending further investigations surrounding alleged falsifications of Gemological Institute of America (GIA) reports. RapNet said the members have also been suspended by the GIA for allegedly participating in a scheme that hacked into the GIA’s computer system and upgraded…

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Retail sales to grow 2.5% in December, says Mintel

Retail sales in the UK are to grow 2.5% during December taking total sales up to £42bn, according to forecasts from market research firm Mintel. According to the company’s Christmas Shopping Habits UK 2015 report 21% of Britons say they will spend more online this Christmas, down from 25% in…

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Dix Noonan Webb enters jewellery market with Bonhams hires

International coins and medals specialists Dix Noonan Webb is entering the jewellery market with two Bonhams hires briefed to launch a new jewellery department. The new division will open for business on 11 November 2015, headed up by Frances Noble (assisted by Laura Smith), both of whom join from Bonhams. The new…

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70% of jewellery shoppers look for a ‘trust mark’ online

More than 90% of shoppers say knowing their online jewellery purchase is the genuine article is ‘very important’, while 70% of consumers will look for a trust scheme on the site before committing to a purchase. This is according to a survey commissioned by the Edinburgh Assay Office in partnership…

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UK smugglers gold could fetch £2.5m at auction

Almost 150 kilos of smuggled gold jewellery, estimated to be worth more than £2.5m, is set to be sold at auction in Belfast this week. The gold was seized during an investigation by HM Revenue and Customs (HMRC) into a £9m smuggling plot that saw the gang’s leader, Chaudry Ali…

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Drakes named ‘Best Independent Fashion Retailer’ in Plymouth

Drakes has been named the ‘Best Independent Fashion Retailer’ at Plymouth’s City and Waterfront Awards. The family-run business, which last year opened a new store in Drakes Circus Shopping Centre, picked up the award at the James Bond-themed black tie event at Plymouth Pavilions on Thursday, October 22. The City…

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£1bn to be spent online by UK consumers this ‘Black Friday’

Retailers have been warned to prepare for a rise of almost a third in spending on ‘Black Friday’ this year, according to new figures. The annual discount day on November 27, which caught on from a trend by US retailers, will be the first time ever that UK online retail…

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Gem-A names Nick Jones interim CEO

After several months without a chief executive, the Council of the Gemmological Association of Great Britain (Gem-A) has appointed Nick Jones as interim CEO. A retired chartered accountant, Jones’s role as interim CEO is to manage the association, and advise the council on the future structure of the association. In a…

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North West jeweller opens London store

Steven Stone, an independent jeweller located in Hale, Cheshire, has opened a new store in London’s Marleybone. Opening on St Christopher’s Place, the design of the store is sleek and modern and was overseen by the third generation of the family, Zack Stone. Stone said: “In recent years our business…

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