Design is the key to all markets

Besides being an astute businessman, Mumbai-born Laksh Pahuja is a designer par excellence known globally for his awe-inspiring unusual jewellery pieces. Trained at the Gemological Institute of India and Harrow College of Art England, Laksh combines...

10 june 2019

Mutual mass destruction will not serve anybody’s purposes

The recent moves by the U.S. Federal Trade Commission (FTC), including its letters urging some companies to abide to the revised edition of FTC Jewelry Guides and the explanations from FTC attorney Robert Frisby posted on the FTC website were...

03 june 2019

Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

27 may 2019

“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 2019

Lucara rakes in $661k from inaugural digital diamond sale

09 january 2019

lucara_news.pngLucara Diamond said it generated revenue of $660,865 from its inaugural diamond sale through Clara Diamond Solutions, its wholly-owned digital sales platform.
The sale achieved +8% over its market price and +15% over the company's reserve price for the goods.  
A total of seven manufacturers participated in the sale, five of whom matched and received their orders.  
“Though we are delighted with the prices achieved for the rough diamonds sold in this first sale, Clara's longer-term value will be realised through its scalability, increasing the volume of rough diamonds transacted by adding production from other global diamond producers,” said Lucara chief executive Eira Thomas.
“Onboarding of additional manufacturers is continuing and Lucara is in active discussion with a number of leading diamond producers who are also interested in trialing the platform in 2019.”  
The company said the next sale was scheduled to take place later this month and diamonds would be added onto the platform gradually in the coming weeks.  
Lucara would also progress into continuous sales of appropriate, qualifying goods through Clara once supply and demand are optimised.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished