56 posts categorized "Colored Diamonds"

Two Large Rough Diamonds Found in Lesotho

New York--Two large diamonds have been uncovered in Africa in as many weeks, putting an end to the drought of big diamond finds the industry seems to have been experiencing.
Lesotho diamonds
Gem Diamonds uncovered the 114-carat D color, Type II rough diamond on the left at Letšeng while Firestone Diamonds found the 110-carat light yellow rough diamond at right at its Liqhobong project.

Mining company Gem Diamonds Ltd. announced the recovery of a 114-carat rough diamond from its Letšeng mine in Lesotho on Friday.

The company described it as a D color, Type II diamond of “exceptional quality.”

The Letšeng mine is known for producing large, high-quality white diamonds, selling at an average price of $2,000 per carat, according to Bloomberg, which is the highest in the industry.

It is the deposit responsible for producing the 357-carat chunk of rough that was cut into the 118.78-carat “Graff Venus,” the world’s largest flawless heart-shaped diamond.

Since Gem Diamonds acquired Letšeng in 2006, the mine has produced four of the 20 largest gem-quality white diamonds ever recorded, though last year it only recovered five stones bigger than 100 carats, less than half what it found the year prior.

The news of Gem’s find came on the heels of another big diamond find from a rival miner in Lesotho, a small kingdom within a country that’s located in the southeastern portion of South Africa.

On April 5, Firestone Diamonds said it had unearthed a 110-carat diamond, its biggest discovery so far, at its new mine in Lesotho.

The light yellow stone was discovered at the Liqhobong project, confirming its beliefs that the deposit has the potential for large diamonds, the company said.

Firestone has spent $185 million to build up the mine, which just began production in October.

In addition to its Liqhobong mine in Lesotho, Firestone also owns and operates the BK11 kimberlite mine in northern Botswana.

via www.nationaljeweler.com


The Pink Star’ Sells for $71M at Sotheby’s

Hong Kong--The 59.60-carat ‘Pink Star’ diamond has, once again, become the most expensive jewel ever sold at auction, and maybe this time it will stick.

Pink-Star-1The Pink Star is a 59.60-carat oval mixed-cut Type IIa pink diamond and is the largest internally flawless fancy vivid pink diamond the Gemological Institute of America has ever graded. The diamond came from a 132.5-carat piece of rough mined by De Beers in Africa in 1999 and was cut and polished over a two-year period.

Chow Tai Fook paid $71.2 million for the stone on Tuesday at Sotheby’s Magnificent Jewels and Jadeite sale in Hong Kong. The Hong Kong-based retailer and manufacturer edged out two other buyers to snag the stone, Sotheby’s said.

Sotheby’s experts had estimated before the sale that The Pink Star would sell for more than $60 million.

It set a new world record price for any jewel sold at auction, surpassing the rectangular-cut, 14.62-carat “Oppenheimer Blue,” which sold for $57.5 million at Christie’s Geneva last May.

This isn’t the first time The Pink Star has found a buyer at auction, though the first sale fell through.

The nearly 60-carat pink stone went up for auction in November 2013 at Sotheby’s Geneva, where four different bidders competed for it. New York diamond cutter Isaac Wolf placed the winning bid of $83 million, which, at the time, marked a new auction record for any jewel ever sold at auction.

In February 2014, though, Wolf defaulted on the payment for the diamond he had named “The Pink Dream” and as a result, Sotheby’s had to take the stone back into its inventory because it had been sold under an auction guarantee.

Last summer, the auction house formed a partnership with Diacore and Mellen Inc. to acquire an ownership interest in the diamond, meaning that when the stone sold, proceeds would be split among the three companies per their ownership percentage.


The 2016 JCK Jewelers’ Choice Awards: The Winners | JCK

The 2016 JCK Jewelers’ Choice Awards: The Winners

 

De Beers Millennium Jewel Sells for $32 Million | JCK

De Beers Millennium Jewel Sells for $32 Million

 
The 10.1 ct. internally flawless fancy vivid blue was nearly stolen in a famed failed heist

via www.jckonline.com


Three Of The World's Costliest Diamonds Now Belong to Josephine

Josephine diamondsHong Kong billionaire Joseph Lau has spent Rs 317 crores ($69 million) for a rare 12.03 carat liquid blue diamond. He has gifted the blue stone to his seven-year-old daughter Josephine.

The diamond was also renamed 'Blue Moon Of Josephine'. This comes just a day after the tycoon, affectionately known as Big Liu, spent a whopping $40.4 million (Nearly Rs 268 crores) over a 16.08 carat pink diamond for his daughter that he also renamed 'Sweet Josephine'.

Six years back, he bought then 1-year-old Josephine her first major diamond; a 7.03-carat blue diamond for US$9.48 million (Nearly Rs 63 crores). This diamond was renamed by him as the 'Star of Josephine'.

While you marvel at the luck that follows the young josephine, let us tell you that she is not the only lucky daughter of Joseph. Her elder half-sister, 14-year-old Zoe also got two amazing gifts last year. She was gifted with a 9.75-carat 'Zoe Diamond'(US$32.6 million), and a 'Zoe Red' ruby (S$11.9 million).

Big Liu surely knows his way into his daughters' hearts and he knows the one universal truth that"Diamonds are a girl's best friend".

via www.indiatimes.com


Sotheby’s to sell 12-carat blue diamond

12.03 Cushion Vivid Blue Moon-bigThis fall, the largest cushion-shaped fancy vivid blue diamond ever to appear at auction will go up on the block at Sotheby’s, with a chance of setting a new auction record.

The 12.03-carat diamond, named the “Blue Moon” because of its rarity, will lead Sotheby’s Magnificent Jewels and Noble Jewels sale scheduled to take place Nov. 11 in Geneva. 

The cushion-shaped, brilliant-cut stone boasts an exceptional clarity, declared internally flawless by the Gemological Institute of America.

It comes to market with an estimate of between $35 million and $55 million. If it sells at the high end of that range, the stone could become the most expensive diamond in auction history.

The current record is held by the Graff Pink, a 24.78-carat fancy intense that went for $46.2 million at Sotheby’s Geneva in November 2010.  (Sotheby’s actually topped the Graff Pink sale in November 2013 when it sold the 59.6-carat “Pink Star” for $83.2 million, but the record didn’t hold as the buyer couldn’t pay for it, requiring Sotheby’s to acquire the stone itself.)

Scientists from the National Gem and Mineral Collection at the Smithsonian Institution were able to study the Blue Moon diamond, noting that the color of the blue diamond is “true and saturated” throughout, with no other colors present.

The polished stone was cut from a 29.62-carat piece of rough unearthed at Petra Diamonds’ Cullinan mine in South Africa in January. A month later, Cora International NY purchased it for $25.6 million, or $862,780 per carat.

RELATED CONTENT: Nearly 30-carat blue diamond found in S. Africa

Sotheby’s also currently holds the world auction record for a blue diamond. This was set by the Zoe diamond, a 9.75-carat fancy vivid blue diamond that sold for $32.6 million in November 2014 during its sale of the late “Bunny” Mellon’s jewelry.

“Weighing in at 12.03 carats, the Blue Moon diamond is a simply sensational stone of perfect color and purity, combined with a superb cushion shape,” said David Bennett, worldwide chairman of Sotheby’s International Jewellery Division. “Blue, for me, is the most mysterious and magical of all the colors of diamond, and the Blue Moon will now take its place among the most famous gems in the world.”

via www.nationaljeweler.com


Rio Tinto’s Argyle Pink Diamonds Tender


Rio Tinto once again has four fancy reds in its annual tender of special stones from the Argyle in Western Australia, the mine that produces the vast majority of the world’s pink and red diamonds.

Including the four fancy reds, there are total of 65 diamonds in this year’s Argyle Pink Diamonds Tender, up from 55 last year.

There also are five “hero” stones this year, top-quality diamonds to which Rio Tinto assigns a name.

This year, Rio Tinto’s partnership with The Australian Ballet inspired the names assigned to the hero stones.

-- Argyle Prima, a 1.20-carat pear-shaped fancy red

1.20 pear red Argyle Prima

-- Argyle Aurora, a 1.47-carat fancy red oval shape named for the princess in Sleeping Beauty

1.47 oval red Argyle Aurora

--Argyle Allegro, a 0.79-carat fancy red radiant-shaped diamond, named after the brisk and lively movement in ballet

0.79 radiant red Argyle Allegro

--Argyle Spectre, a 1.93-carat fancy-vivid purplish-pink shield-shaped diamond that takes its name from the ballet Le Spectre de la rose

1.93 shield red Argyle Spectre

--Argyle Élevé, a 1.44-carat fancy-intense pink emerald shape inspired by a movement in ballet

1.44 emerald intense pink Argyle Eleve

Viewings of the Argyle Pink Diamonds Tender in Hong Kong are by invitation only. Following the viewings there, Rio Tinto will bring the diamonds to New York and then back to Australia.

Tender bids are scheduled to close Oct. 21.

via www.nationaljeweler.com


A 25 Carat Ruby Is Now the World’s Most Expensive Colored Stone - JCK

 The auction market got a shot of adrenaline last night, as the Sotheby’s Geneva sale set a world record for any jewelry auction—and capped that with six more world records, almost all for colored stones.  

The auction fetched $160.9 million, or 149.9 CHF (Swiss francs). That tops the previous record holder, the Christie’s November auction in Geneva, which fetched 147.2 million CHF. (Sotheby’s briefly claimed the title for its $199 million November 2013 sale, but that didn’t stand after an $83.1 million pink diamond sale was canceled.)

The sale gives a nice boost to the Sotheby’s jewelry sales, which were down two percent in the first quarter of 2014, according to its 10-Q. 

The Sunrise Ruby-1The 25.59 ct. Burmese Sunrise Ruby sold for $30.3 million ($1.1 million a carat), doubling the low end of its $12 million to $18 million estimate. The stone set records for a ruby, both in total price and per-carat price; for any non-diamond jewel; and any stone by Cartier. The buyer was not named. 

The blood-red stone was a favorite of Sotheby’s worldwide jewelry chairman David Bennett, who said last month: “I have remained in awe of the Sunrise Ruby since the first moment I set eyes on it. In over 40 years, I cannot recall ever having seen another Burmese ruby of this exceptional size possessing such outstanding color.”

The Sunrise sale significantly tops the ruby record set just six months ago by the 8.62 ct. Graff Ruby, which sold for $8.6 million at Christie’s Geneva in November 2014.

Historic Pink Diamond-1The Historic Pink Diamond, an 8.72 ct. fancy vivid pink, achieved $15.9 million, which fell within its $14 million to $18 million estimate, and also went to an unnamed buyer. The diamond is believed by the Gemological Institute of America to have been part of the outstanding collection of Princess Mathilde of Bonaparte, Napoleon I’s niece. It only recently resurfaced, having been kept in a bank vault since the 1940s.

 

The other records were set for sapphires and pearls: 

- A pair of very fine Burmese sapphire and diamond ear clips with a combined weight of 32.67 cts. sold for $3.2 million, setting a world record price for a pair of Burmese sapphire earrings.

- A Kashmir sapphire and diamond brooch weighing 30.23 cts. sold for $6.1 million, setting a record for a Kashmir sapphire (the previous record was set in November).

- A rare natural pearl and diamond necklace sold for $7 million, setting a record for a two-row natural pearl necklace.

 


Colored Diamonds: Asia's New Fancy Best Friend

The popularity and price of fancy colored diamonds have been on the rise globally, driven by Asian investors.

From 2006 to 2014, fancy colored diamonds (pink, yellow, and blue diamonds) experienced an average total appreciation of 154.7%, according to the Fancy Color Research Foundation (FCRF), a non-profit colored diamond index that was established last year. In the same time period, the colorless, white diamond increased by 62.4%, according to the Diamond Prices Index.

China and Hong Kong now represent approximately 40% of sales of the fancy colored diamond market, according to FCRF. “Most increases in fancy colored diamond prices, particularly for pink diamonds, is driven by Asian customers,” says Tracey Greenstein, director of research at FCRF.

Green Diamond ring

The high demand and extreme rarity of the colored diamond are what keep pushing up its price: It’s formed when a non-carbon element—such as nitrogen and hydrogen— is accidentally trapped during the crystallization process of the diamond. The foreign element is what renders the diamond colorful.

Outside of Asia, colored diamonds are often considered assets with highly attractive investment potential whereas colorless diamonds are more suitable for gifting. But in Asia, they are seen as both.

 

Edward Alvarado, director of colored diamond dealer, Diamintel notes that he often sees Chinese couples coming to his office looking for a colored diamond ring “for her” but walk out with “her ring and his ring.”

“A lot of men liked colored diamonds in China,” says Alvarado. “With white diamonds they might think it looks girly or flashy but with colored diamonds, they can choose some of the more masculine colors.”

Red diamond ring

As a Venezuelan company that supplies clients globally, Diamintel now sees 80% of their revenue coming from Greater China. Three years ago, Europe and the United States took up 50% of their total revenue.

Major auction houses have been bringing some of the most valuable natural color diamonds to market through the Hong Kong sales, whereas Geneva and New York were the two main focal points before, according to the Natural Color Diamond Association (NCDIA).

Sotheby’s Hong Kong sold an 8.41-carat purple-pink diamond for a record $17.77 million U.S. dollars in last year’s Magnificent Jewels and Jadeite Autumn Sale. Just two months ago, a 13.88-carat yellow diamond ring and a pair of 6.30 and 6.15-carat diamond earrings sold for $466,667 and $312,821 U.S. dollar, respectively, in Hong Kong.

Pink diamonds

And the colored diamond phenomenon is not exclusive to Asia’s super rich. Many of the private buyers at the Hong Kong wholesale jewelry trade shows are part of the growing middle class nowadays.

“We live in a time of a democratisation of the diamond market,” says Diamintel’s Alvarado. “The market is getting a lot more educated and global- and it’s not just the traditional elites that are collecting but the savvy Asian investors as well.”

via www.forbes.com


Diamonds.net - Fancy Color Diamonds Identified as Stable, High Growth Alternative Asset Class

Fancy colored diamondsA new index by The Fancy Color Research Foundation (The FCRF) shows that fancy color diamonds have delivered strong and consistent price increases, outperforming key global asset indices  since 2005.
Fancy color diamonds, predominantly  yellow, pink and blue diamonds, have always been highly prized and rare assets. They are found randomly and unpredictably in diamond mines throughout the world and are enjoyed by sophisticated jewelry buyers and gem collectors alike. Consistent recent growth in values has reflected the changing dynamics of global wealth notably the fast paced growth of emerging markets and the appeal of fancy color diamonds as an investment product. 

The Fancy Color Diamond Index (The Index) has been developed by The FCRF from proprietary access to tens of thousands of fancy color diamond transactions since 2005 and will be updated on a quarterly basis. The Index provides greater knowledge and understanding of fancy color diamond pricing trends to jewelry retail, wholesale and mining industries.

Fancy color diamonds, across pinks, yellows and blues, have increased in value by 167 percent on average since January 2005, outperforming other leading assets in a similar period, for example, the Dow Jones industrial average has increased 58 percent,  Standard & Poor’s 500 has increased 63 percent and London house prices have increased 82.1 percent. 

Looking in more detail the Index shows that pink diamonds have shown the greatest growth in value, up by 360 percent in the last nine years, with blues showing less dramatic but equally consistent growth of a 161 percent by value. Crucially, both pink and blue diamonds were unaffected by the global financial crisis with blues keeping their value and pinks still increasing through 2008 to 2010. 

The publication of the Index marks the launch of The FCRF, which is an independent, non-profit organization formed to promote fair-trade, ethics and transparency in the fancy color diamond retail, wholesale and mining industry.

The FCRF activity will encompass:

• Developing innovative research and digital tools that will support the fancy color diamond retail selling process for consumers, retailers and collectors;

• Promoting fair trade in fancy color diamonds throughout the value chain underpinned by reliable data analysis to create a uniform knowledge base across all industry layers;

• Authoring publications to clarify the complex methodology for evaluating fancy color diamonds;

• Correcting common misconceptions about evaluating fancy color diamonds.

The FCRF expects that together these activities will enhance consumer demand and retail understanding of fancy color diamonds.

The FCRF was initiated by Eden Rachminov, author of "The Fancy Color Diamond Book" and winner of the NCDIA education award. Ambitions and activities of The FCRF will be guided and evaluated by an experienced board of advisors that work throughout the diamond pipeline.

Rachminov, a member of the board of advisors for The FCRF, commented, “The launch of The Fancy Color Research Foundation is in response to the growth in fancy color diamonds transactions and the resulting need for greater education, understanding and clarity in the industry.

“The process and skills for evaluating fancy color diamonds are unique to this exceptional product. As a result there is a need to clarify misconceptions and to highlight the differences to evaluating colorless diamonds. 

“In addition to publishing the Index, The FCRF is developing and publishing a series of practical tools, targeted at retailers. We are confident that The Fancy Color Research Foundation will be a significant influence on increasing demand within the fancy color diamond industry.”

Membership of the FCRF is open to retailers, auction houses, wholesale traders/manufacturers, financial institutions, insurance appraisers and mining companies. Organizations interested in membership of The FCRF should visit fcresearch.org to register details.

About the Fancy Color Diamond Index:
The Index is a first of its kind tracker of changes in the market prices of yellow, pink and blue fancy color diamonds, the three most commonly traded fancy color diamond categories (a market price is a wholesale transaction taking place in one or more of the global diamond trading centers). 

The Index is a composite representation of changes in price points gathered since 2005, based on a statistically significant sample size. It offers insight into variations in the appreciation of diamonds of different colors and sizes. 

The Fancy Color Research Foundation oversees proprietary prevalence and pricing data aggregation and production of the index. A third party New York-based audit firm reviews the development of The Index from the various data points gathered.

The Index can be used to understand and track the historical price behavior of different rare fancy color diamonds.

via www.diamonds.net