We are living in turbulent times, but there’s a silver lining. Thanks to the slight ease of COVID-19 restrictions in several locations, the diamond market is steadily recovering. In this digest, we share five highlights of September about diamonds.
De Beers cuts its prices
The long-term monopolist in the diamond industry announced a huge sale. Since August, De Beers has started cutting prices on diamonds smaller than one carat, according to IDEX Online. Israeli Diamonds mentions that the company increased its total revenue to $436 million.
New ISO 24106 Standard appeared
The International Standards Organization entered the diamond industry with its first grading standard. Labeled ISO 24106:2020, this norm is a large document defining all the key concepts, types, and grading methods for diamonds larger than 0.25 carats. The exclusions for the new rule include fancy-colored, lab-grown, and assembled diamonds.
First-ever virtual congress on diamonds
The 39th World Diamond Congress, one of the most remarkable events in the diamond industry, happened online during September 14-15. Its arrangers are the World Federation of Diamond Bourses and the International Diamond Manufacturers Association. The list of spokesmen included the leaders of CIBJO, Alrosa, and Get Diamonds.
2020 Argyle Pink Diamonds Tender: Happening and virtual preview
The selection of Argyle Pink Diamonds Tender appeared online at the beginning of September. The collection has 62 jewels, including 6 ‘heroes’ and 12 Petite Suites, or diamond miniatures in pink, red, blue, and violet color. The happening is inspired by the Japanese spirit, as pink diamonds resemble the cherry blossoms.
Alrosa sales rose by 19%
The reduction of rough prices caused positive dynamics in Alrosa sales. According to Diamonds.Net, the sales rose to $216.7 million thanks to this move. Given the pandemic situation and the long recovery of the company, this news brings hope.