TanzaniteOne sales point toward partial recovery

by eyetee | January 4, 2010 12:00 am

[1]

Sales results for the second half of 2009 at TanzaniteOne indicate stabilizing demand, although prices remain below 2008 peaks.

Third-quarter production results totalled 567,897 carats, an increase of 21.4 per cent over the previous three months, bringing yearly results up to that point to 1.71 million carats and surpassing a target of 1.7 million carats.

The company said new marketing and a revised sales direction helped push its second-half sales to nearly $2.5 million.

The sole producer of the purplish-blue gemstone said it achieved a 42 per cent price increase in smaller, included, fractured stones of lighter colour.

A third formal sight conducted in November in Dubai saw all six parcels (56,450 carats) sell for a total revenue of $1.82 million. While the sight achieved an average per carat price of $32, this is a 15 per cent decrease over parcels sold in August due to the stone’s lower quality. Revenue for the period between August and November totalled $4.3 million. Sales to date for 2009 totalled $11.22 million.

“We are pleased to report an increase of over 40 per cent in the average per carat price of the smaller, included, fractured, and lighter stones,” said TanzaniteOne managing director Zane Swanepoel. “This is testimony to the success of the company’s new grading, marketing, and sales initiative. We are also very pleased the tanzanite mine has already achieved its 1.7 million carat production target.”

Source URL: https://www.jewellerybusiness.com/news/tanzaniteone-sales-point-toward-partial-recovery/

---