Last week, the Correctional Court of Antwerp delivered a verdict in regards a case concerning the deliberate provision of incorrect diamond certificates by employees in 2012. Following the verdict, the Court imposed severe sanctions on the involved parties including effective incarceration, forfeiture of certain rights and substantial financial penalties and compensations.
At the start of the process in 2012, HRD Antwerp and parent company AWDC both have declared themselves civil party due to significant reputational damage. Throughout this case, HRD Antwerp has had full confidence in the investigation by the prosecutor’s office but has never been directly involved.
The involved diamond companies and their representatives have since been declared persona non grata and are no longer customers at HRD Antwerp. The involved employees where immediately fired due to severe professional errors.
“HRD Antwerp fully supports the recent ruling of the Court in regards this unfortunate case. It’s extremely important such violations do not remain without consequences. The imposed sanctions are therefore a strong signal towards the industry that such practices are not tolerated. We like to thank our customers for their loyalty and confidence despite this isolated case†says Peter Macken, CEO HRD Antwerp.
The Blue Moon Diamond has been sold for a record US$48.26m at Sotheby’s in Geneva.
The sale price is a record per carat and for total value for any gemstone.
Blue Moon Diamond has no inclusions and has been officially declared flawless.
The 29.62-carat diamond was found at the Cullinan Mine in South Africa in January last year, blue diamonds make up only 0.1% of diamonds unearthed at the mine.
It was then cut and polished in New York, a process which took six months and eventually produced the 12.03 carat vivid blue gem.
DCLA valuation services for loose or set diamond jewellery. Valuations for insurance or resale with optional cold laser inscription.
The GIA has invalidated another 1042 diamond reports.
GIA alert
Sarine Launchs a Super-Fast small rough mapping technology system for rough diamonds.
The Galaxy technology is now implemented in Meteor, a system specifically targeted at the smaller rough diamond segment, enabling a fast, efficient inclusion mapping solution for manufacturers of smaller goods. The Meteor will increase the speed of scanning up to 220 stones per day.
Sarine technologies Israel’s foremost diamond equipment producer, focuses on the evaluation, planning, processing, finishing, grading and trade of diamonds and gemstones, said the new system will provide faster, cost-effective inclusion mapping for small rough diamonds.
This vivid pink diamond could break records at auction. The 16.08 ct is featured at the Christie’s auction and it’s estimated to bring as much as $28 million.
Fancy vivid pink colour is the purest and strongest saturation; this could mean a record price per carat for the 16.08 carat vivid pink diamond when it’s offered in Geneva on Nov. 10.
Christie’s auction house said it is the largest cushion cut vivid pink diamond of its kind to come to auction.
A 8.72 carat pink diamond of the same grade and shape sold for $15.9 million at auction in May.
Sotheby’s Magnificent Jewels auction in Geneva this November will showcase ‘The Blue Moon’, diamond.
The exceptional 12.03 carat internally flawless fancy vivid blue diamond, the highest possible grade for one of the largest fancy vivid blue diamond’s known to exist.
Sotheby’s estimate the Blue Moon diamonds value between $35 and $55 Million USD
The Blue Moon was discovered in South Africa
It is important to understand there are two very different categories of lasers used for diamond inscription; hot lasers and cold lasers. Hot lasers are YAG lasers and Cold lasers use Excimer laser technology.
Simply put the PhotoScribe Cold laser system is the only laser system guaranteed 100% safe for diamond inscriptions.
Hot lasers will chip or fracture diamonds. High quality polished girdles are especially at risk for fracturing or chipping with "Hot" lasers.
The picture is a classic case of the damage done by hot laser. This will lower the value of your diamond by changing the clarity grade or polish grade of the diamond.
Make sure your diamond is Cold Laser inscribed before you buy it.
Call or visit DCLA for more information.
Gem Diamonds LTD has sold the 357 carat exceptional white diamond recovered from the Letšeng mine for $19.3 million USD.
Gem Diamonds owns 70% of the Letšeng mine in Lesotho and 100% of the Ghaghoo mine in Botswana which is producing the exceptional rough diamonds.
The 314 carat diamond recovered in May 2015 sold in June 2015, and the 357 carat diamond which sold on the Antwerp tender last week for $19.3 million.
Both rough diamonds achieved top prices in the current market showing price resilience of large top quality diamonds.
Producing four of the twenty largest white gem quality diamonds ever recorded, Letšeng mine is renowned as highest dollar per ct kimberlite diamond mine in the world.
De Beers which produces thirty percent of world rough diamonds has cut prices by 10 percent for the sight.
This comes after two reductions in its annual production output by 15 percent failed to slow slump in prices of rough.
Rough diamond prices have dropped 14 percent in some categories and are in their fifth consecutive quarterly loss, which is the longest in a decade.
De Beers cut the size of the sight to $250 million and reduced the prices by 9 percent, according to sight holders.
De Beers has also contributed tens of millions to a jewellery advertising campaign. Its advertising campaign will promote diamond jewellery in the U.S. and to Chinese consumers.
