The Diamond Certification Laboratory of Australia (DCLA)
Buy and sell diamonds with the help of the experts
Martin Rapaport has released a comprehensive editorial entitled “Honest Grading” that discloses the systematic over grading of over one hundred thousand diamonds, valued at more than a billion dollars.
Rapaport calls upon the legitimate jewellery trade to reject those selling over graded diamonds that fool consumers into believing they are getting better diamonds than they are receiving.
Minister of Mines Walter Chidhakwa said that Zimbabwe is considering repealing 15 percent tax royalties on locally polished diamonds. This is likely be announced in the 2015 budget set for later this month.
The change is in order to attract investment in the diamond production sector.
Currently 90 percent of Zimbabwe’s diamonds are sold as rough in Belgium and Dubai.
Zimbabwe rough diamonds sales are estimated at 1.34 million carats during the first quarter of this year, according to ministry of mines figures.
The question is how many synthetic or Laboratory grown Diamonds are there in the market.
The Gem and Jewellery Export Promotion Council estimated current laboratory created or synthetic diamond production at 350,000 carats per year.
A report on laboratory grown diamonds by Frost and Sullivan, estimates that synthetics currently constitute up to 0.6 percent of the total value of the polished diamond market or up to $135 million by value. With a anticipated three percent growth in two years.
In 2013 there were numerous reports of undisclosed Synthetic stones discovered at laboratories with the technology to identify the Synthetic diamonds.
Since De Beers and the GIA introduced new testing machines and De Beers launched an Indian testing service, the trade is more protected.
In Australia DCLA has tested every diamond ever submitted to the DCLA laboratory.
The Gemmological Institute of America (GIA) has suspended duplicate reports diamond and diamond sealing services at all locations.
The action is being taking this action after receiving a sealed diamond for verification that did not match the data label in the sealing packet.
GIA, along with a corporate investigation firm, is investigating the circumstances surrounding the submission to determine the source of the sealing packet.
Lost, stolen or damaged GIA reports will not be replaced but the online Report Check service will show a data document.
GIA customers with concerns may submit the sealed diamonds to GIA for examination. GIA will verify that the diamond matches the report information and return it in a sealing packet at no charge.
Rio Tinto mine in Western Australia sold a 1.21 ct red diamond for a record price, the miner won’t disclose the price of the radiant cut rare red diamond, but said the total price for Argyle pink diamonds has tripled over the past decade.
Named the Argyle Cardinal, the diamond is one of 13 red diamonds larger than one carat, and one of 54 pink and red diamonds sold at the latest international tender.
U.S. online jeweller Blue Nile experiments with brick and mortar
With diamond rings on display for shoppers to inspect the gems quality up close. It is the first time Blue Nile has turned to brick and mortar, showcasing products in two Nordstrom stores.
Blue Nile, which reports results next week lets shoppers buy at prices are up to 40 percent below diamonds sold in stores, the company cut its prices in 2012 while increasing its marketing budget, reaching $450 million in sales last year.
We think that over time, the brand builds with incremental sales, incremental customers, all by referral, Binder said.
Blue Nile sold far more engagement rings than biggest online competitor Amazon.
Christie’s Geneva magnificent jewels Auction on 11 of November, features over 390 lots.
The jewellery auction is estimates sales to exceed $80 million.
The auction is highlighted by a pair of earrings by Bulgari set with a 6.95 carat fancy vivid blue diamond and a 6.79 carat fancy vivid pink diamond, with an estimate of $12 million and $15 million.
The exceptional 232.08 ct white diamond was recovered at the Cullinan mine in South Africa.
Cullinan mine owned and operated by Petra Diamonds earned its place in history in 1905 with the discovery of the largest rough gem diamond ever found weighing 3,106 carats.
Petra sold the 232.08 ct gem for $15,219,219 or $65,577 per carat.
DCLA offers the only qualified service for rough diamonds direct from our South African DCW.
Our diamond expertise in the DCW (Diamond Cutting Works) is third generation.
Diamond companies in India, Antwerp and Dubai receive $15 billion worth of finance per annum.
Leading private and public sector banks have started to visit the Surat diamond hub to evaluate the financial strength of diamond companies that were using large facilities.
After the closure of Antwerp Diamond Bank and the Standard Chartered Bank cutting exposure to the diamond industry alarm bells are ringing in the Indian banking sector.
Bank officials from Mumbai visited diamond companies in Katargam and Varachha, and conducted meetings with their owners on diamond prices and demand of diamonds from the US and China.