The Diamond Certification Laboratory of Australia (DCLA)
Buy and sell diamonds with the help of the experts
South Africa’s Petra Diamonds has found yet another big rock at its iconic Cullinan mine, the third coloured diamond over 100 carats since March that has been unearthed at the operation.
“It is the third Type II D colour gem quality diamond weighing more than 100 carats recovered at Cullinan since March”
The 209.9 carat, D colour, Type II gem quality diamond is also the fourth such stone discovered by Petra so far this financial year.
De Beers jewelry subsidiary Forevermark has promoted chief operating officer Nancy Liu to CEO, as Stephen Lussier steps back.
She will take over the day-to-day running of the brand, allowing Lussier, who has been CEO since 2009, to increase his focus on shaping De Beers’ strategy at the consumer level, the company said last week. He will also continue in his position as Forevermark chairman, and will oversee its strategic role within the De Beers portfolio.
Liu joined Forevermark in 2008 as president of its Asia Pacific region. She was previously employed by L’Oréal, Louis Vuitton and the Boston Consulting Group.
“ Liu is an outstanding candidate to take over as CEO of Forevermark,” said Lussier. “As the brand sees rapid growth in Asia, Nancy’s exceptional expertise and knowledge of the region provides us with excellent continuity.”
De Beers appointed Liu to its executive committee in 2017.
Source: diamonds.net
Botswana’s state run Okavango Diamond Company unveiled on Wednesday what is believed to be the largest blue diamond ever discovered in the southern African country, which is one of the world’s top producers.
The 20.46 carat, oval-shape fancy precious rock has been named “The Okavango Blue” in honour of the Okavango Delta, the country’s wildlife rich world heritage site.
From all coloured diamonds, blue stones are the most unusual and so the miner says its find is one of the rarest in the world.
“It is incredibly unusual for a stone of this colour and nature to have come from Botswana a once in lifetime find, which is about as rare as a star in the Milky Way,” Okavango Diamond Company managing director Marcus ter Haar said in a statement.
“It sits in the very top bracket of all time historical blue diamond finds especially because only a very small percentage of the world’s diamonds are classified as fancy colour,” he noted, adding the company expects to sell the stone by the end of the year.
In 2016, a massive intense blue diamond, known as The Cullinan Dream, sold for $25.4 million at a Christie’s auction in New York, breaking all records and becoming the most expensive gem of its kind ever sold at auction.
Last year, a 6.16 carat blue diamond, secretly passed down through European royalty over three centuries, fetched $6.7 million at a Sotheby’s auction in Geneva $1.4 million more than what experts expected it to be sold for.
Arguably, the most famous is the Hope Diamond, also known as Le Bijou du Roi “the King’s Jewel”, Le bleu de France “France’s Blue”, and the Tavernier Blue. The massive, 45.52 carat, deep blue diamond is now kept at the U.S. National Museum of Natural History in Washington, D.C.
Botswana, which was overtaken by Russia as the world’s top diamond producing country in 2014, is grappling with aging mines, as well as power and water shortages.
Still, diamonds are the country’s main source of income and account for about 80% of its exports.
The nation is home to some of the world’s most prolific diamond mines, including Lucara Diamond’s Karowe operation, where the now famous Lesedi la Rona, the second-largest gem-quality diamond to ever be found, was unearthed in 2016.
Source: Mining.com
Tiffany & Co. has been expanding its workforce in sub-Saharan Africa, a region of almost one billion people where the jewelry giant doesn’t have a single store.
More than a quarter of the New York based company’s 1,500 global diamond cutters and polishers are now based in Africa, Chief Executive Officer Alessandro Bogliolo said in an interview in Cape Town.
Tiffany has factories in Botswana and Mauritius with staff subject to “intensive training” over two years, he said, making it the only western luxury brand that doesn’t outsource production of its African stones.
Botswana is the world’s largest diamond producer after Russia, and is the only African country where Tiffany both buys and prepares its stones.
While it also sources diamonds from mines in South Africa, Namibia and Sierra Leone, it won’t do business in Zimbabwe and Angola because of the human-rights situation in those countries, Bogliolo said.
“If you buy from a world class brand, it’s because you trust that this brand has done all that is humanly possible to guarantee that the product is not only crafted to the highest standard, but also ethical and traceable in its manufacturing,’’ the CEO said.
Ethical Jewelry
The move to hire and train African polishers and cutters comes as Tiffany strives to be completely transparent about how its diamonds progress from deep underground to the engagement rings of wives to be. That’s in line with a wider trend in consumer goods industries to tap into demand for products that younger shoppers see as ethical.
This year, the company started to share the origin of its diamonds with customers, an initiative Bogliolo believes will push the entire industry to follow suit.
Tiffany has been trying to recoup sales that have been hit by a slowdown of Chinese tourist spending in the U.S., including an expansion of the business in Beijing and Shanghai.
While Bogliolo said the jeweler has a lot of customers in Africa, they’re forced to leave the continent to make purchases as the retailer’s only outlets there are in Egypt.
However, the CEO said South Africa is an “interesting market” where the company might eventually open at least one store.
“There’s no doubt that we will have a more robust presence on this continent,” he said. “It’s just a matter of finding the right location and the critical mass in order to have a sustainable business.”
Tiffany shares have gained 32 percent this year, valuing the company at $12.9 billion.
Source: bloomberg.com
This record breaking perfume bottle is covered in 3,500 diamonds.
The new unisex fragrance made by Spirit of Dubai Par fums is also described as the world’s most expensive at a cost of $1.295 million.
The bottle was designed by Asghar Adam Ali Ibrahim, and sits in a wheeled pedestal.
It is also the tallest commercially available remote controlled fragrance spray bottle at 1.97 m.
Users can adjust the sprayer height and direction with a remote control.
Spirit of Dubai says SHUMUKH, which translates to ‘deserving the highest’, unites both jewellery and perfume to create a product that “tells the tale of Dubai through seven core design elements”.
After the certificate presentation on 12 March, the record-breaking bottle was displayed in The Dubai Mall’s Fashion Avenue as part of its ART+ series.
Source: Guinness world records
Diamonds with this trait may fetch lower prices on the market, but some in the trade are embracing the opportunities they offer.
With an inconvenient leading letter, fluorescence falls outside of the 4Cs. Yet that hasn’t stopped it from becoming an essential element when it comes to haggling the price of diamonds.
In the grading world, fluorescence refers to “the visible light some diamonds emit when they are exposed to ultraviolet rays,” according to the Gemological Institute of America (GIA). Most of the time, the light is blue, though occasionally it can be white or yellow (see box).
“The first thing you do when you tip out a parcel of diamonds is put it under the fluo lamp to see how highly fluo it is,” admits Satta Matturi, founder of rough-diamond-buying service Ideal Luminescence.
While GIA studies show that this trait has no noticeable effect on a diamond’s appearance in the vast majority of cases, “diamantaires have generally looked down upon fluorescence” as reducing the stone’s value, notes Eddie LeVian, chief executive of American jeweler Le Vian.
Indeed, most industry buyers latch on to this diamond feature as a gateway to lower prices. The Rapaport Price List has a section dedicated to the discounts one can expect for diamonds with blue fluorescence. Depending on the stone’s color and clarity, the discount can be as high as 25% if the fluorescence is very strong, or as low as 1% if it’s faint (though lower colors may have no discount at all).
Why the bad rap?
Despite the stigma, there is little science to back up claims that fluorescent diamonds are inferior stones. Fluorescence is a commonplace trait, occurring in somewhere between 25% and 35% of all diamonds, according to the GIA. Only 10% of these would have a grading classification of “medium,” “strong” or “very strong” fluorescence — the levels that the lab says “may impact appearance.”
One of the most serious — and popular — criticisms is that fluorescence can cause diamonds to look milky. Yet the GIA reports that fewer than 0.2% of the fluorescent diamonds it’s received for testing have appeared “hazy or oily” as a result of the fluorescence, so that phenomenon is incredibly rare.
“There is a perception that fluorescence affects the value of a diamond, and I think that is probably true,” comments gemologist, dealer and gemstone educator Eric Emms. “Whether that is fair or not is a moot point.”
While Emms says the negative valuation is very much a trade issue, the vilification of these stones might have started with a lack of education among consumers. “There are tales from retailers in the past where clients have bought a diamond ring, gone to a disco [where UV lights reveal the fluorescence] and brought it back, complaining that one of the diamonds is blue, so ‘it can’t be a real diamond, can it, Mr. Jeweler?’” says Emms. “This is one of the reasons fluorescence is thought of in negative terms. Wholesalers don’t want to explain this phenomenon to the public.”
A win for the budget-conscious
Though fluorescence is still an influential factor in the pricing matrix, attitudes toward these diamonds are softening as the market tries to shift away from a rigid 4Cs approach to selling — and also as tightening budgets lead trade and consumer buyers to tinker with their ideal specifications.
“The public perception of fluorescence is, in my opinion, very misguided,” says Mo Hanzi, managing director of jewelry manufacturer Pugata, who blames the internet for fueling confusion. But by explaining the reality of fluorescence, Pugata has managed to persuade shoppers to switch — which can mean that “a client who can’t afford a carat can suddenly afford a carat,” Hanzi says. “The market has been forced to sell stones with fluorescence at a cheaper price. The winners in this case are those who understand this, and they will get a cheaper price for the exact same stone.”
Luminous jewels
One buyer reaping the benefits of this situation is Costan Eghiazarian, managing partner of Austrian jewelry brand Aenea. He collects D-color diamonds of 3.50 carats and above with very strong (VST) fluorescence. “I love the effect,” says Eghiazarian, who enjoys watching the color emerge from these stones when the sunlight hits them. “There is no design in our stock without at least strong fluorescence, regarding stones over 3 carats. We just bought a beautiful marquise-cut, 4-carat, D VST. It’s fantastic.”
British jewelry designer Cora Sheibani feels similarly. Her Glow collection not only accepts fluorescence, but celebrates it: Clients are encouraged to view the highly fluorescent gems she has picked out for her jewels — such as the aptly named Disco ring — under UV light and marvel as the colors change. In addition to diamonds, Sheibani has used colored gemstones that fluoresce, such as spinels, rubies and tourmalines. These glow-in-the-dark jewels will be coming to New York in May, with a deliberately darkened exhibition space showing them off in all their luminous glory.
Not always unloved
While Eghiazarian and Sheibani love the color play, some buyers believe fluorescence can enhance the brilliance of white diamonds in the right color grades. Research by Venus Jewel, which specializes in manufacturing solitaires, has shown that in the top three colors — D, E and F — fluorescence enhances the stone’s luminance for a stronger sparkle.
Others in the trade report similar findings, with the GIA saying that “in many instances, observers prefer the appearance of diamonds that have medium to strong fluorescence.” Emms disagrees with those observers, but does feel that yellowish diamonds tend to look better when blue fluorescence is present.
As with the 4Cs, the beauty of this much-debated “F” is in the eye of the beholder. “The overall objective needs to be achieved [through] looking at a stone and making sure it’s sparkly,” says Hanzi. “I don’t see people walking around with microscopes.” Or, indeed, UV lamps.
Facts on fluorescence
Up to 35% of diamonds display some level of fluorescence.
In more than 95% of cases, the emitted light is blue, though there are instances of other colors, such as white or yellow.
The GIA bases its fluorescence grades on the strength of the light the stone emits when exposed to long-wave ultraviolet rays: “none,” “faint,” “medium,” “strong” or “very strong.” If the fluorescence is medium or stronger, the grading certificate will also note the color of the fluorescence.
Studies show that fluorescence has no impact on a diamond’s structural integrity, and in the majority of cases, no noticeable effect on its appearance.
Source: diamonds.net
Luxury jeweler, Graff, has unveiled its latest, and perhaps its greatest, big diamond creation, the “Graff Lesedi La Rona,” a 302.37-carat D-color, high-clarity stone that is being lauded as the world’s largest square emerald cut diamond. The London-based company also says it is the “largest highest clarity, highest color diamond ever graded by the Gemological Institute of America (GIA).”
Laurence Graff, the prestigious diamond dealer and founder of the eponymous international luxury jewelry brand known for its gem-centric high jewels, who has cut and polished the majority of the 20 largest diamonds discovered this century seemed humbled by his latest creation.
“My love affair with diamonds is life-long and crafting the Graff Lesedi La Rona has been an honor. This diamond, our diamond, is beyond words,” he said. “All our expertise, skill and accomplishment went into crafting this incredible diamond masterpiece, which is extraordinary in every way. The Graff Lesedi La Rona is an exceptional diamond with an exceptional cut and exceptional proportions, earning its place in history as the largest and finest of its kind in the world.”
The gem’s D color grade (meaning colorless) is the highest end of the GIA color scale. It is rare for any diamond to achieve this, much less one of more than 300 carats. While Graff noted its high clarity, meaning that the diamond has few or no inclusions or blemishes, it did not reveal the GIA clarity grade.
It is the principal diamond cut and polished from the 1,109-carat Lesedi La Rona rough, which was purchased in 2017 by Laurence Graff. In addition to the main diamond, 66 “satellite” diamonds have been polished from the rough, ranging in size from under a carat to more than 26 carats. Each diamond is inscribed with “Graff, Lesedi La Rona” and its unique GIA number, and is accompanied with a certificate of authenticity from Graff and the GIA. Graff began alerting its clients in November 2018 that they can purchase jewels with stones from the rough gem.
The 1,109-carat rough diamond, about the size of a tennis ball, has had a brief but storied existence. It was discovered by Lucara Diamond Corp., a Canadian diamond mining company, in November 2015, at its Karowe mine in Botswana. It is the largest gem-quality diamond discovered in more than 100 years and the second-largest in history. Its size is exceeded only by the legendary 3,016.75-carat Cullinan Diamond, mined in South Africa in 1905, which produced nine major diamonds that are part of the British Crown Jewels.
“There is a huge amount of good fortune involved in unearthing a rough diamond of this extraordinary beauty and importance,” Laurence Graff said. “We had an immense duty to cut the very, very best diamond imaginable from this rough.”
The gem was given the name, Lesedi La Rona, which means “our light” in Botswana’s Tswana language.
Lucara Diamond Corp. originally tried to sell the Lesedi La Rona in a standalone public auction at Sotheby’s London on June, 2016. It was an unusual way to sell a rough diamond. Normally, rough diamonds are sold privately to diamond dealers who then cut and polished it into a finished gem. It created controversy among these dealers. One of those who criticized the sale was Laurence Graff. It had an estimate of more than $70 million. However, it failed to meet its reserve price as bidding stalled at $61 million.
The Graff gemologists and master polishers spent 18 months analyzing, cutting and polishing the stone in order to reveal the 302.37-carat Graff Lesedi La Rona Donald Woodrow
In September 2017, Graff Diamonds announced that it had purchased the diamond for $53 million in a handshake deal between Graff and William Lamb, former president and CEO of Lucara. Once purchased, the diamond was moved to South Africa where Graff’s cutting and polishing processes are carried out.
Laurence Graff said he was confident the Lesedi La Rona would result in “sensational polished gems.” In May 2016, he purchased a 373-carat rough diamond that was believed to have come from the same rough stone. His experience with this gem gave him enough confidence to think he could predict what the Lesedi La Rona might produce.
Even with this experience the Lesedi La Rona presented a unique challenge for Graff’s gemologists. They had never analyzed a stone this large. In fact it was so large that it couldn’t be viewed with existing equipment. A scanner had to be custom built specifically for the Lesedi La Rona with new imaging software capable of probing its immense interior.
With the new equipment, the gemologists were able to explore deep within the diamond and map out the maze of imperfections. They used this information to plot which cuts would yield the largest and highest clarity diamonds possible.
At first, the technical analysis of the Lesedi La Rona concluded that a 300-carat diamond wasn’t possible. However, Laurence Graff said he was convinced that this exceptionally rare weight could be achieved and challenged his staff to accomplish this.
After months of analysis, the plan for cutting and polishing the diamond was so precise there was no room for error. It took hundreds of hours just to polish the table facet, the largest facet at the top of the diamond.
By the time the final finessing of the diamond’s facets had taken place, more than 18 months had elapsed.
”Cutting a diamond of this size is an art form, the ultimate art of sculpture,” Laurence Graff said. “It is the riskiest form of art because you can never add and you can never cover up a mistake, you can only take away. You have to be careful and you have to be perfect.”
The GIA identified the Lesedi La Rona rough as part of an elite group of “super deep” diamonds formed three times deeper than most other diamonds. Rare emissaries of geological information, Graff donated fragments of the Lesedi La Rona to the Smithsonian Institute to help advance diamond research.
Source: forbes.com
African focused Firestone Diamonds has dug up a 72 carat yellow, whole makeable diamond at its Liqhobong Mine in Lesotho, the second one over 70 carat it has found this year.
The stone, recovered over the weekend together with a 22 carat makeable white stone, followed by an 11 carat fancy light-pink diamond found at the asset.
“Makeable” diamonds are those whose shape allows to cut one large diamond from it. In contrast, “sawable” stones can be cut in half in order to create two smaller diamonds.
“The stone, recovered over the weekend together with a 22 carat makeable white one, followed by an 11 carat fancy light pink diamond found at the asset.”
The two diamonds, found within the northern lower grade part of the pit, will go on sale at Firestone’s next tender, which is scheduled to take place during May 2019.
Shares in the company were 7.3% higher at 2.2p following the news.
Last month, a white 70 carat diamond from also from the Liqhobong mine was auctioned for an undisclosed price, following a 46 carat precious rock, also from the same mine, which was sold for $1 million in December.
Diamond prices have been under pressure and miners are struggling across the board, especially those producing cheaper and smaller stones where there is too much supply. In December, some of Rio Tinto’s customers refused to buy cheaper diamonds, while De Beers has been forced to cut prices and offer concessions to buyers.
Firestone spent $185 million building Liqhobong, which started production in late 2016, and boasts over 11 million carats in reserve. The total open pit resource contains over 17 million carats to a depth of 393 metres.
Source:mining.com
De Beers is shutting its diamond-recycling division, as digital advancements in the sector have lessened the need for its services.
The International Institute of Diamond Valuation (IIDV) was set up in 2016 to repurchase and recycle diamond jewelry that consumers no longer wanted. De Beers began the operation after noting the difficulty consumers faced in trying to sell their jewelry at a fair price. The venture provided a means of emphasizing the enduring value of diamonds, De Beers said.
However, since IIDV launched, technology in the industry has improved, and online consumer-to-consumer selling platforms have become a more popular option, the company explained.
“Following a number of years gaining experience in the diamond-recycling sector, we have taken the decision to suspend the activities of the International Institute of Diamond Valuation,” David Johnson, De Beers’ senior manager for media and commercial communications, told Rapaport News Thursday.
While the project is no longer a viable option, it has provided De Beers with valuable insight into consumer behavior and the needs of its retail partners, Johnson explained.
“We know that consumer acceptance of the consumer-to-consumer market is growing and likely to be the future of this sector, and we will therefore continue to look for opportunities in this space,” he added.
Image: Diamond solitaire earrings. (De Beers)
Source: Diamonds.net
A “twin stone” fancy vivid blue diamond ring of 3.06 and 2.61 carats with an estimate of $6 million to $8 million is the top lot of Christie’s New York Magnificent Jewels sale.
The April 16 auction at Christie’s Rockefeller Center headquarters will also feature three D colored diamonds of more than 15-carats, including a 16.69 carat marquise cut diamond ring Type IIa, and potentially internally flawless, from The Collection of Elizabeth Stafford with an estimate of $1.2 million to $1.8 million.
Colored diamonds will be represented with a 6.11 carat fancy pink diamond ring estimate $1.2 million to $1.5 million, fancy deep yellow diamond earrings of 7.55 and 7.51 carats estimate $700,000 to $1 million, a 37.65 carat fancy intense yellow diamond ring estimate $600,000 to $800,000 and a 35.06 carat fancy intense yellow diamond pendant of estimate $500,000 to $700,000.