Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

"585*GOLDEN" made a rating of jewelry with precious stones in terms of sales

02 august 2023

The analytical center of "585*GOLDEN" conducted a federal study of jewellery sales with precious and semi-precious stones from January to July 2023 and found out how much Russian citizens spent on average on purchases and which jewellery pieces were in the highest demand.

Analysts have compiled a rating of products with stones by sales volume. The largest share fell on diamond jewelry, amounting to 29%. Products with topaz were in the second place (25.9%). This is followed by jewelry with garnets (13.9%), amethysts (6.4%) and emeralds (5%).

The most popular decoration was a gold studded earrings with a diamond. In second place in demand among buyers are classic gold earrings with light blue Swiss-type topaz and diamonds.

The top 5 also included an engagement ring with a hidden diamond, an "eternity ring" with small diamonds around the entire circumference and earrings with rectangular-cut emeralds.

"From January to July 2023, we recorded a noticeable increase in demand for products with precious and semi–precious stones. 42.5% more products were sold than in the same period of 2022. The average receipt for such a purchase also increased by an average of 25.9%. There are a number of reasons for this: people consider jewelry with stones as an investment in their style, a way to please themselves, or they choose a talisman stone according to their zodiac sign - that is, they are guided by emotional motives. But there are also rational reasons that make it easier to make a purchase decision: for example, layaway payment is becoming more popular – and it allows you to make a choice in favor of a more expensive product without compromising the family budget," commented Nikolay Kondratiev, director of the department of analysis, forecasting and research of the jewelry chain "585*GOLDEN".

Alex Shishlo for Rough&Polished