MONTH IN REVIEW
www.jewelleryfocus.co.uk
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AUCTIONS INTERNATIONAL OPENINGS
An exceedingly rare fine fancy pink
diamond weighing 5.03ct will headline
Bonhams London Fine Jewellery sale
on 26 September. According to market research provider
Euromonitor International, the Indian
fine jewellery market will be worth USD
$62.8bn (£48.9bn), $4bn more than US
retail spend which will reach $58.6bn
(£45.6bn), by the end of 2018.
The US market for fine jewellery has
grown by 12% over the last five years
but the Indian market has increased by
74% over the same period.
China remains the biggest market for
fine jewellery with sales reaching $86.3bn
(£67.2bn) at the end of 2017, and expected
to reach $92bn (£71bn) by the end of this
year. Overall Chinese market has grown
by over 21% in the last five years.
According to Euromonitor
International, all of the top five markets
(China, India, USA, Japan and Hong
Kong) will have grown to the end of
2018, although the smallest of the five,
Hong Kong, has seen a small decline
over the last five years (going from
$7.8bn in 2014 to $7.2bn in 2018).
The UK market for fine jewellery is
eighth biggest international market
with a retail value of $4.46bn (£34.7bn)
at the end of 2017 and predicted to rise
to £4.6bn by the end of the year.
Fotoulla Michael, head of sales,
International Jewellery London (IJL)
said: “IJL is delighted to welcome
Indian designers, manufacturers and
gem dealers to IJL this week including
Kohinoor, Karats & Carats, Videotron
Gems & Jewellers, Spectrum Jewels and
Lotus Gems.
“This research shows that the Indian
market for fine jewellery has grown
enormously over the last five years.
There has been news in recent months
about increased appetite for platinum,
diamonds and also coloured stones,
alongside the more traditional demand
for gold jewellery. India’s growing
domestic market will have a huge
impact on worldwide jewellery trade.” Blackpool-based luxury jewellery and
watch retailer, Leonard Dews, is set
to almost double its retail space with
the launch of a new 850 sq ft area -
that will be the largest bridal and fine
jewellery showroom in the North West
of England.
Five carat fancy
pink diamond
could fetch
£800,000 at
auction
The diamond, which has VS1 clarity,
is estimated worth between £600,000-
800,000. According to Bonhams unlike
all other coloured diamonds, the gem’s
colour is caused not by trace elements
in its chemical composition but by a
“lucky miracle of nature”, a distortion
within their atomic lattice caused by
the pressure exerted on them during
their formation.
Emily Barber, director of jewellery
at Bonhams UK, said: “This pink
diamond, offered at auction for the
first time, possesses an exceptional
combination of characteristics. It is
extremely unusual to find a pure pink
diamond, of even saturation, with
no secondary component colours,
weighing over 5.00 carats.
“This diamond’s significant size
and elegant, unmodified square
cut, coupled with its high clarity
grade distinguishes it further. It is of
extraordinary beauty.”
Hallmarking in
August fell by
2.3%
to 810,062 items
(compared with the
previous August)
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JEWELLERY FOCUS
India to overtake
US as second
biggest market
for fine jewellery
by the end of 2018
Leonard Dews
to launch the
largest bridal
showroom in the
North West
Building works and renovations are
already underway at the family-owned
and run jewellers, which was founded
in 1877, with plans to unveil its new
bridal boutique in May 2019.
Leonard Dews’ new showroom
will be dedicated to its own fine
bridal jewellery and gift collections,
with commissions from international
award-winning fine jewellery designer
Vicki Smith, as well as jewellery from
Chopard and Fope.
On top of its investment in the new
development, Leonard Dews is set to
create new sales consultant roles as
the retail space expands.
Michael Hyman, owner and third
generation jeweller at Leonard Dews,
said: “We’re thrilled that the expansion
works to almost double our retail space
in Blackpool have begun. We love
Blackpool, and our long heritage here,
and are delighted that we can bring
investment, new jobs and hopefully new
customers to the town for an exciting,
and exceptional, customer experience.”
Gabrielle McNamara, Leonard Dews’
general manager, added: “The bridal
space will be set away from the in-
store homes of our iconic watch and
jewellery brands, creating an intimate
venue for those looking to purchase
their engagement rings or bridal
jewellery and gifts.”
October 2018 | jewelleryfocus.co.uk