The Desert Rose sold for $8.8 million at Sotheby’s inaugural Collector’s Week in Abu Dhabi, setting a new auction record for a fancy orangy pink diamond. Five bidders competed for the pear-shape, 31.68-carat, fancy vivid orangy pink, VVS1-clarity diamond, Sotheby’s said.

 

Christie’s Hong Kong Magnificent Jewels online sale totaled HKD 35.2 million ($4.5 million). The top lot, a ring set with an oval-cut, 12.78-carat ruby flanked by pear and round diamonds, fetched HKD 3.1 million ($391,688).

 

The US jewelry sector shrank 3.1% year on year to 22,152 active businesses in the third quarter, according to the Jewelers Board of Trade (JBT). Retailers accounted for 16,822 of them. The JBT recorded 95 closures or exits in the period, along with 89 new openings.

 

Watches of Switzerland reported revenue rose 8% year on year to GBP 845 million ($1.13 billion) in the half-year ending October 26. US sales jumped 15%, while the UK and Europe advanced 2%, and Roberto Coin wholesale revenue grew 16%. Profit increased 54% to GBP 44.4 million ($59.2 million).

 

Diamond wholesale prices continued to fall in November, with the sharpest declines in smaller goods, according to Rapaport. The RapNet Diamond Index (RAPI) for 0.30-carat stones dropped 6%, while 0.50-carat fell 5.1%, 1-carat slipped 2.6% and 3-carat inched up 0.1%. The IDEX Polished Price Index declined 1.7% for the month.

 

Wesley Tucker will step down as CEO of Tracr at the end of February 2026, De Beers announced. Tucker, who joined the group in 2021, oversaw Tracr’s evolution from a pilot to a scaled traceability platform with more than four million diamonds registered. De Beers added that it will name his successor in due course as the platform moves into its next growth phase.

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Signet Jewelers reported third-quarter sales rose 3.1% year on year to $1.4 billion, while net income nearly tripled to $20 million. Growth came from watches and services, with bridal flat and fashion up 1%. The retailer slightly raised its full-year revenue outlook to between $6.7 billion and $6.83 billion.

 

Online spending during Cyber Week – the 5-day period from Thanksgiving to Cyber Monday – rose 7.7% year on year to $44.2 billion, according to Adobe. The increase was fueled by record online sales on Black Friday. Adobe projects full-season holiday ecommerce spending will grow 5.3% to $53.4 billion.

 

Jewelry was one of the fastest-growing categories on Black Friday, with sales up 2.8% year on year, according to Mastercard. Overall retail spending rose 4.1% as “savvy” consumers shopped early and hunted for value. Online sales jumped 10.4%, including a 4.2% lift in jewelry e-commerce.

 

Petra Diamonds has appointed Juan Kemp and Vivek Gadodia as joint CEOs on a permanent basis. The two had led the company in an interim capacity since Richard Duffy’s departure in February. Petra said the move provides continuity as it advances its operational and financial plans.

 

Christie’s achieved $69.5 million at its Hong Kong Magnificent Jewels sale in late November, selling 92% of lots. The top lot was “The Royal Blue,” a necklace featuring 16 Kashmir sapphires totaling 104.61 carats, which fetched $16.2 million. Christie’s said the result set a new auction record for a Kashmir sapphire necklace.

 

Christie’s London Jewels online sale totaled GBP 9.5 million ($12.5 million), the auction house said. The top performer was a Cartier art deco emerald and diamond bracelet that sold for GBP 1.1 million ($1.4 million). The piece achieved nearly triple its pre-sale high estimate.​​​