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Christie’s and Sotheby’s auction sales rose to new records for both the auction houses.
Jewellery sales topped $740 million and $602.5 respectively.
A notable sale was The Graff Vivid Yellow diamond reaching $16.3 million, a record price for any yellow diamond to date.
During 2014 Sotheby’s jewellery sold over 3,900 lots of which 77 items topped $1 million. With an overall sell through rate in was 81 percent.
Gem Diamonds reported that it saw an encouraging end to a very positive year after the fourth quarter of 2014.
CEO Clifford Elphick said the despite a drop in diamond recovery, 25,525 carats down from 28,365 carats in the third quarter. The Letseng mine in Lesotho has continued to perform strongly.
Gem Diamonds remains on track to declare a maiden dividend in March 2015, Based on the positive results and the rise in the price per carat from $2,043 in 2013 to $2,540 in 2014.
Being the ultimate possession for diamond lovers, Natural fancy Orange diamond is extremely rare. To be classified as a fancy orange, there can be no brown in the diamonds colour.
Orange colour in diamond is rarer in nature than most other fancy colours, so rare even the GIA rarely grades an orange diamond.
As a result, orange diamonds that receive pure orange are even rarer than the natural fancy red or blue diamonds. And have therefore set records per carat exceeding any other fancy colour.
Orange is the colour of the true fancy diamond connoisseur.
Assortment and qualities showed no significant changes.
Although with the first sight of 2015 having an estimated value of $450 million, De Beers has anticipated the slowing rough market with an estimated 4 percent price adjustment across the board.
In the open rough market prices for similar goods are 20 percent lower than the contract sales, by the major miners. According to a sightholder.
General sentiment in the rough market was negative among sightholders and brokers. “I don’t know of a single box at the sight on which people will make money,” said a sightholder
De Beers has relaxed sightholder allocation rules for the January sight, allowing the deferment of 25 percent for two months without a penalty.
20 percent of the sight boxes buy values were deferred.
A diamond mine outside of Prieska in the Northern Cape of South Africa, became the latest victim of a robbery on Monday.
South African police are looking for a group of sixteen men who tied up security guards, before they demanded the safe keys from two employees.
Unable to access the safe, they broke into the sorting room, and managed to get away with an undisclosed quantity of rough diamonds.
Two laboratory grown diamonds, the largest D colour internally flawless lab-created diamonds have been certified by IGI Antwerp laboratory.
Both stones are triple excellent and have no colour overtones or fluorescence. The diamonds were submitted by Diamaz International a leading supplier of laboratory grown diamonds based in Antwerp.
Technological advancements in HPHT have made it possible to grown diamonds in D to F colours from 1ct to 3 t with great consistency.
It is predicted demand for these high quality HPHT diamonds will soon outstrip supply.
ABN Amro, Standard Chartered, State Bank of India and IDBI Bank continue to reduce credit levels to jewellery companies.
Winsome Diamonds and Forever Precious Diamond had defaulted on a $970 million debt owed to creditors prompting banks to act. The Banks have classified gems and jewellery into the high risk category.
Jewellery industry representatives will meet with Finance Ministry officials on Tuesday In a bid to bring much needed liquidity into the industry.
Rio Tinto has identified a cluster of eight diamondiferous pipes in India.
Rio Tinto Global mining giant would invest $500 million in the diamond mine in Madhya Pradesh India. The potential project would create thirty thousand jobs when approval for the mining lease is granted by local authorities.
Rio Tinto’s CEO said the project would commence once the company has environmental clearance.
Recently there has been a lot of controversy in the diamond and jewellery trade regarding over graded diamonds. This led to one laboratory being banned from listing on Rapaport. Video
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DCLA continues to see overgraded diamonds with no alert to the puplic from the industry associations in Australia.
Unscrupulous dealers have created havoc in the industry again, selling Lab grown diamonds in a mix with natural diamonds.
18 months after laboratory grown diamonds were found mix with natural mined diamonds, the industry is again dealing with the issue.
Leading diamond companies including (DTC) sightholders have been caught up in the illegal practice.
In a statement the GJEPC and SDA clarified that various steps have been initiated to curb the menace including stringent legal action against those caught selling the lab grown diamonds mixed with natural diamonds. As well as manufacturing lab grown diamonds without disclosure.