Christie’s to Offer 92ct. Pendant

A 92.15 carat diamond pendant worth up to $20 million will lead Christie’s Magnificent Jewels auction in Geneva next month.

The heart shaped, D colour, flawless diamond is the centerpiece of La Légende, a diamond and pearl necklace by designer Boehmer et Bassange.

The stone is the largest of its shape, color and clarity ever to be put up for auction, according to Christie’s.

Another Boehmer et Bassange piece, a pair of chandelier ear pendants titled La Vie Bohème, will also be on offer, with an estimated value of $2 million to $3 million.

Each earring consists of an asymmetrical pink diamond bow, a pear shaped diamond connecting link, and a marquise cut, D colour, flawless diamond weighing just over 10 carats, Christie’s said. Source: Diamonds.net

Graff Unveils 105-Carat D-Flawless Diamond

Graff Diamonds has unveiled the 105.07 carat D flawless pear shaped diamond, it has named the Graff Vendôme after its new retail outlet at Place Vendôme in Paris.

The diamond was cut from a 314 carat rough that was recovered in May 2015 at Gem Diamonds’ Letšeng mine, that was named “The Destiny” and sold into a partnership in June of that year according to a statement by the miner.

The stone was cut and polished by Graff’s own master cutters, who first used a 3D computerised mapping system to plan the cut and then laser cut and hand polished the stone over “many months”.

The rough yielded 12 other diamonds, the largest of which was 17.1 carats. Nine of them were of D flawless quality.

Letseng Mine Yields 114ct. Diamond

Gem Diamonds has found a 114-carat rough diamond at its Letšeng mine in Lesotho, the miner reported Friday.

The discovery of the D-color, type-II stone follows a drop in recovery of large diamonds at the mine, which yielded only five stones above 100 carats last year compared with 11 in 2015.

The deposit is one of the highest-value in the world by average price per carat, producing four of the 20 largest gem-quality white diamonds in history since Gem Diamonds acquired it in 2006.

Source:diamonds.net

Sotheby’s Sells 59.6 carat pink for $94.2 million AUD

Steinmetz Diamonds owned by Israeli billionaire Benny Steinmetz, spent two years cutting and polishing the Rough diamond. Which was mined by De Beers in Botswana, Southern Africa.

The stone was then worn by Danish model Helena Christensen around her neck to exhibit it to the public for the first time in Monaco in 2003.

Chow Tai Fook a Hong Kong based jewellery retailer bought the 59.6 carat pink diamond for $US 71.2 million (AUD $94.2 million), setting a world record for any gem.

The world’s largest jeweller Chow Tai Fook, was founded in 1929, operating more than 2,000 stores throughout greater China.

The Pink star is highest colour grade of vivid pink, and the highest purity of IF.

De Beers, Luk Fook to Co-Brand Grading Reports

De Beers’ polished-grading unit has partnered with Hong Kong-based jeweler Luk Fook to produce co-branded diamond reports for the retailer’s customers. 

The arrangement with the International Institute of Diamond Grading & Research (IIDGR) will enable Luk Fook to present customers with a magnified image of a diamond’s “light performance pattern,” giving them more information about the jewelry on offer, De Beers said Thursday. 

The program, which launched Thursday in Hong Kong and Macau, will potentially expand to other parts of Greater China at a later stage, De Beers added. 

“As customers continue to seek ever-greater confidence in diamonds, we are seeing increased demand from major diamond jewelry retailers for the innovative solutions that IIDGR can provide,” said Jonathan Kendall, the institute’s president. “This new initiative with Luk Fook highlights the rapid international growth we are seeing in the business, and we look forward to a long and successful partnership.”

Source: Rapaport

59.6 carat Vivid pink diamond

Sotheby’s plans to auction the famous "Pink Star" diamond an internally flawless, fancy vivid pink stone at its sale in Hong Kong on April 4.

The 59.6 ct Vivid Pink diamond is expected to sell for more than $60 million.

The Pink Star could become the most expensive diamond ever auctioned, when it comes up for sale next month.

"The extraordinary size of this 59.60-carat diamond, paired with its richness of colour, surpasses any known pink diamond recorded in history," said David Bennett, worldwide chairman of Sotheby’s Jewellery division.

Originally named the Steinmetz pink, the diamond was recovered at a mine in South Africa.

Sotheby’s financial statements have valued the stone at $72 million as part of its inventory.

GIA Finds Significant Undisclosed Synthetics

The Gemological Institute of America (GIA) recently uncovered an unusually large number of undisclosed synthetic diamonds mixed in with natural melee diamonds, the lab confirmed with Rapaport News on Monday.

A parcel of 323 melee diamonds with an average size of 0.014 to 0.015 carats was found to contain 101 chemical vapor deposition (CVD) synthetic stones at the GIA’s Mumbai lab, reported Wuyi Wang, the institute’s director of research and development. The goods had been submitted to the GIA’s Melee Analysis Service, which made the discovery.

The GIA launched the service in December of last year and has regularly identified small quantities of undisclosed synthetic melee diamonds in some parcels submitted for analysis, Wang said.

However, he explained, “this is the first time we have seen such a significant percentage of CVD melee mixed with natural melee.” Fewer cases of undisclosed mixing have been reported recently as more testing facilities and detection machines have come to market, Praveenshankar Pandya, chairman of India’s Gem & Jewellery Export Promotion Council (GJEPC), said at the World Federation of Diamond Bourses’ Presidents’ meeting last month.

The first major discovery of undisclosed synthetics was in May 2012, when several hundred CVD diamonds were sent to the International Gemological Institute ??(IGI) in Antwerp and Mumbai to be certified as natural diamonds.? Still, concerns of such fraudulent activity are on the rise as synthetic diamond production increases, the GIA and De Beers International Institute of Diamond Grading & Research (IIDGR) said in separate presentations at last week’s Hong Kong Diamond, Gem & Pearl show.

Production has largely been focused on High Pressure-High Temperature (HPHT) synthetics, while you don’t see a lot of CVD melee in the market, Wang said in his presentation. Regardless, the risk of undisclosed synthetics has increased as synthetic-diamond growth technology has developed, especially in the very small melee sizes, given that the market has lacked an efficient, affordable means to detect them, the GIA said in its Monday statement to Rapaport News.

“The GIA has screened larger diamonds for treatment and to determine whether they are of natural versus synthetic origin for decades, but the small size and vast quantities have made doing the same for melee impossible until now,” the company said. “The GIA Melee Analysis Service gives the industry – as well as the consumer – confidence in knowing what they are getting for the most prevalent stones in the market.”

De Beers Profit Jumps as Diamond Market Stabilises

Profit more than doubled for De Beers last year as trading conditions in the diamond-manufacturing sector improved and inventory levels stabilized.

Underlying earnings jumped to $667 million in 2016 from $258 million a year earlier, parent company Anglo American said in a statement Tuesday. This came as revenue grew 30 percent to 6.07 billion, reflecting a 37-percent hike in rough-diamond sales to $5.6 billion.

The midstream of the diamond industry returned to buying rough after a 2015 slump in demand that resulted from oversupply of polished and inflated rough prices. Manufacturers started working down their polished inventories in the second half of that year before restocking their rough supplies in 2016.

De Beers also lowered prices, with its rough-price index declining 13 percent across 2016. The miner consequently reduced its rough stockpiles during the year, management said. De Beers production fell 5 percent to 27.3 million carats, while sales volume leapt 50 percent to 30 million carats, meaning it sold a larger volume of stones than it mined. “2016 generally was a much better year for the diamond industry,” said Bruce Cleaver, De Beers chief executive officer. “The midstream performed much better than 2015, largely as a result of the strong and decisive action we took in 2015 to reduce production in accordance with demand.

The fruits of that tough action we took in 2015 was seen through 2016." The company projected production would rise to 31 to 33 million carats in 2017, “because we see the market has recovered from where it was at the end of 2015,” noted Cleaver. The company maintained a conservative outlook for the diamond jewelry market given prevailing global macro-economic conditions and geopolitical risk.

Performance will be dependent on a number of macro issues, including the attitude of the new U.S. administration, the strength of the dollar, continued recovery in China and the impact of Indian demonetization, Cleaver explained. “All other things being equal, we think diamond demand will continue to grow along with GDP growth,” he said. Source: diamonds.net

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Pink Diamond sells for $18M at Christie’s Geneva

Christie’s a pink diamond at its Magnificent Jewels auction in Geneva on Tuesday at $2 million per carat.

The pear shaped 9.14 carat fancy vivid pink VS2 clarity diamond was sold for a total of $18.2 million.

Sales at the auction totaled $97.1 million.