Jewelry

American jewelry retailer Reeds Jewelers says it will start accepting bitcoins as payment at its 64 stores and on its website.

The retail jeweler claimed it is the first retailer of fine jewelry to accept the virtual currency.

The firm said it will also allow customers to buy gold ingots and GIA-certified diamonds with bitcoins.

In order to make purchases with bitcoin, customers must have a bitcoin wallet. The retailer said it will accept bitcoin payments at all of its physical locations using digital tablets.

EGL International Managing Partner and CEO Guy D. Benhamou said he categorically refutes claims made on a regional television station in the United States that EGL’s grading standards were lower than those of its competitors.

“It is well known that since gemology is not an exact science, the same diamond sent to several gem labs could produce different grading results,” Benhamou said in a statement.

De Beers' Forevermark diamond brand has appointed a local licensee partner, Zen Diamond, for its expansion into Turkey.

Forevermark diamonds are available at 25 Zen Diamond stores in the main cities of Istanbul, Antalya, Ankara, Samsun and Mersin.

The launch in Turkey follows the ongoing expansion of the brand across Asia, North America, the Middle East, southern Africa and, most recently, Australia.

Jewelry company Pandora reported a 29.5 percent rise on the year in revenue in the first quarter of this year to $478 million.

The bracelets and charms maker reported profit for the quarter of $130 million – up significantly on $81 million for the same period last year.

“Following a good start to 2014, Pandora has decided to increase revenue guidance to more than $1.94 billion (previously guided more than $1.84 billion),” the firm said in a statement.

India: Jewels that Enchanted the World, billed as the most comprehensive exhibition of Indian jewelry ever staged, has gone on display in the State Museums of Moscow Kremlin.

Auction house Christie’s will be holding a sale called Spring Jewels, an online-only auction of contemporary jewelry and watches by luxury brands such as Bulgari, Chanel, Cartier, Rolex and Tiffany late this month.

The sale features over 70 lots ranging in style from classic to contemporary, with price points accessible to a wide range of collectors. The auction will run from May 6 to 20.

Online retailer of diamonds and fine jewelry Blue Nile, Inc. posted a 6.8-percent increase in net sales to $103.7 million for the first quarter ended March 30.

U.S. engagement net sales for the first quarter increased 8.0 percent to $59.7 million, compared to $55.3 million for the first quarter of 2013.

U.S. non-engagement net sales for the first quarter 2014 increased 7.6 percent to $26.1 million, compared to $24.2 million for the first quarter of 2013.

Industry leaders joined senior United Nations officials and representatives of UN-affiliated organizations for a special conference organized by CIBJO, to discuss the commitment of the jewelry and gemstone business to facilitate sustainable development in the countries and regions in which it is active at the United Nations headquarters in New York.

Diamond and other exceptional jewelry items were everywhere to be seen at the 86th Annual Academy Awards – the Oscars. Jewelry featuring De Beers' Forevermark diamond brand was widely seen and worn by leading Hollywood ladies. Most notably, Forevermark diamond pieces were worn awards presenter and Dallas Buyers Club actress Jennifer Garner, and The Wolf of Wall Street star Margot Robbie.

For anyone who had not noticed, there is a new world out there. In particular, there is a new environment regarding the sale of jewelry to women, because it is increasingly being bought by women themselves. A number of reasons have been given for the growing phenomenon.