De Beers Diamond Jewellers Opens in Kowloon

Today De Beers Diamond Jewellers opened at ELEMENTS in Kowloon, an urban area of Hong Kong. The luxury group defined ELEMENTS as being at the epicenter of luxury shopping and it marks the company's second store in Hong Kong after The Landmark in Central.

The highlight of this opening was the world debut of the Swan Lake Collection by De Beers. Inspired by the fluidity, beauty and elegance of ballet, intertwining lines of specially selected fancy-cut diamonds (pear, oval and marquise cuts) are reminiscent of the complexity and sophistication of a dancer’s choreography and performance. The special “Red Carpet” Swan Lake necklace features 258 white, fancy cut diamonds for a total of almost 123 carats.

The new 850-square-foot ELEMENTS store features a completely new design concept of glass, light and openness. At the opening ceremony, François Delage, the chief executive of De Beers Diamonds Jewellers, said, ''We are thrilled to open our first store in Kowloon, and further more our second location in Hong Kong. The magnetic energy at ELEMENTS has the ability to draw the most sophisticated shoppers in Hong Kong to the mall.''

Also presiding over the grand opening ceremony was Andrew Coxon, the president of De Beers Institute of Diamonds, who said, ''Fire is the scintillation or spread of color that we see, Life is the sparkle and, brilliance is the natural transparency of the diamond. We know that the highly discerning clients in Hong Kong will no doubt appreciate the superior fire, life and brilliance that our specially selected diamonds exhibit.''

-Rapaport

Hong Kong's Polished Diamond Imports +29% in 3Q

Hong Kong’s diamond imports rose 29 percent year on year to $4.84 billion in the third quarter of 2011, according to data published by the Diamond Federation of Hong Kong, China. By volume, the polished imports fell 17 percent to 6.464 million carats as their average price grew 56 percent to $746.88 per carat.

Polished exports rose 18 percent to $3.34 billion and net polished imports, representing polished imports less exports, increased 62 percent to $1.49 billion.

Hong Kong’s rough imports more than doubled to $598.7 million, while rough exports increased 53 percent to $468.4 million. Net rough imports, representing imports less exports, rose to $130.3 million compared to a deficit of $41.6 million a year earlier.

Hong Kong’s net diamond account, representing total imports of polished and rough less total exports, grew 41 percent to $1.36 billion.

During the first nine months of the year, Hong Kong’s polished imports rose 33 percent to $13.32 billion driven by strong growth in imports from all its main trading partners. Imports from India rose 25 percent to $6.4 billion, while from Israel they increased by 69 percent to $1.86 billion and from Belgium by 35 percent to $1.46 billion. Imports from the U.S. grew 14 percent to $1.47 billion and from the United Arab Emirates (UAE) they rose 53 percent to $675.4 million.

Polished exports grew 35 percent to $9.87 billion in the nine months as net polished imports rose 27 percent to $3.45 billion.

Rough imports jumped 89 percent to $1.57 billion and rough exports rose 51 percent to $1.26 billion. Net rough imports rose to $312 million compared to negative $1.4 million in the same period a year earlier. Hong Kong’s net diamond account for January to September increased 16 percent to $3.14 billion.

-Rapaport

SOTHEBY’S HONG KONG AUTUMN SALE ACHIEVED OVER $411 MILLION (US)

Patti Wong, Chairman of Sotheby’s Asia, said: “Following on from our strong Hong Kong sale series this past Spring, Sotheby’s international network has been extraordinarily successful in sourcing some remarkable collections across a range of categories from around the world – from Europe comes the second part of one of the world’s great private collections of Imperial porcelain, Fine Chinese Paintings and 20

th Chinese Oils from English, European and American collections built up over different periods during the past 50 years, Contemporary Asian Art from the Collection of Belgian Baron Guy Ullens, and wine from a truly extraordinary cellar in America. Over the past six days in the now truly international marketplace of Hong Kong, collectors from all over Asia, in particular Greater China, and from around the world, some established collectors and some new to our business, have competed with one another and wi th Western collectors for this group of choice works, achieving these stellar results.” Kevin Ching, Chief Executive Officer of Sotheby’s Asia, said: “Sotheby’s Hong Kong has completed one of the most successful sales this Autumn from 1 to 6 October, selling over 3,000 lots for a stunning total of over HK$3.2 billion / US$411 million (est. HK$2.7 billion / US$350 million). We have seen Record Various-Owner Sales of Contemporary Asian Art, 20th Century Chinese Art, Fine Chinese Paintings, Magnificent Jewels and Jadeite, Important Watches, and the Second Highest Total For A Various-Owner Sale Of

Southeast Asian Paintings. In addition, records were set for Ming Porcelain, the Highest Price Per Carat for a Fancy Vivid Blue Diamond and a Fancy Vivid Orange Diamond, as well as for the key 20th Century artist Zao Wou-ki. The very successful results achieved this season bring Sotheby’s Hong Kong’s 2011 Sotheby’s Hong Kong’s 2011 AAuction AAuction TTotal TTota l to to an impressive sum of to to an impressive sum of H HK$7.49 billion / US$960 million HHK$7.49 billion / US$960 million, 40% increase from the 2010 Auction Total (HK$5.34 billion / US$685 million).

* Estimates do not include buyer’s premium

-Diamond News