Headlines

Don’t Expect a ‘Stellar’ Diamond Market, De Beers Says

Published

7 years ago

September 16, 2016

Global demand for diamonds fell last year.

The diamond market isn’t likely to be “stellar” in the near future, according to De Beers.

Bruce Cleaver, CEO of the company, tells Rapaport News: “The rest of 2016 and 2017 are not going to be stellar years from a global GDP point of view or in terms of diamond jewelry consumption.”

De Beers is maintaining a cautious outlook, according to the article. De Beers recently released a new Diamond Insight Report.

In 2015, worldwide demand for diamonds dropped 3 percent to 79 billion, according to De Beers.

Cleaver notes, however, that millennials represent a “major opportunity” going forward,” as they are still “10 years away from their most affluent life stage.”

Read more at Rapaport News

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”