The Diamond Certification Laboratory of Australia (DCLA)
Buy and sell diamonds with the help of the experts
De Beers sight for October is estimated at $460 million USD. De Beers reported the prices for several different categories of goods were down between 2 percent and 4 percent.
Sightholders also said that De Beers changed the assortment for some of its boxes for higher qualities which may offset the lower prices.
Sotheby’s auctioneers announced a world record auction price for a fancy vivid pink diamond. The sale of an 8.41 ct Internally Flawless Fancy Vivid Purple Pink Diamond sold for $17.77 million beating the estimate $13 million to $15.5 million.
The Magnificent Jewels and Jadeite Sale in Hong Kong on Tuesday raised $75 million.
After 13 years the DCLA laboratory has moved to a new office, DCLA now resides at 901/9 floor Citiside House 155 Castlereagh Street. We now have an office with a view. All customers welcome to visit.
KAO Mine in Lesotho has recovered a second exceptional pink diamond weighing 23.82 cts. The diamond has been named the ‘Lesotho Storm’.
The KAO Mine is the largest diamond-bearing diamond pipe in Lesotho and the fourth-largest in South Africa and Lesotho. The mine regularly produces a broad spectrum of sizes and qualities, including exceptional large white and fancy coloured stones.
A fancy intense pinkish purple VS2 diamond will be on display to the public at the Hong Kong Fair, and the Purple Orchid has an asking price of $1.2 million per carat.
The exceptional diamond belonging to Israeli firm Leibish & Co originated from an unnamed South African mine, one of the few in the world where purple diamonds can be found.
There is nothing more unique on the market right now, and this incredible 3 carat purple diamond is more than a cut above the rest.
Founded in Tel Aviv in 1974 and now with eight offices worldwide, EGL (European Gemological Laboratory) is the target in a lawsuit in US courts after claims of “over-grading” diamonds, certifying them as being worth more than they really are – a charge the service vehemently denies.
Whether the issue for EGL’s alleged over-certification of the diamonds is fraud – or the result of a decades-old difference of opinion on how to fix and rate the value of stones – will be for the courts to decide.
EGL suffered the latest blow this week when Martin Rapaport, chairman of the Rapaport Group, which publishes an authoritative diamond price list and table that is considered the standard for diamond pricing in the US, said that his service would no longer list stones evaluated and certified by EGL for the all-important “four C’s” that determine the value of a diamond – carat, color, clarity and cut. In a statement, Rapaport said that his service “is opposed to the misrepresentation of diamond quality. The over-grading of diamonds is an unfair practice that destroys consumer confidence and the legitimacy of the diamond industry.”
The brouhaha stems from a series of lawsuits against Genesis Diamonds, a retailer in Nashville, brought by several customers who claim they were sold overpriced diamonds. In one case, a customer paid $135,000 for two stones, one weighing 3.01 carats and the second 3.04 carats, rated as “excellent” and “very good” cuts by EGL. But another appraisal placed the stones a grade lower, at “very good” and “good.” That appraisal valued them at just $22,500. The case was covered on a local Nashville television station, which highlighted the issue of the EGL report. Since then, other suits have been filed against Genesis.
But EGL CEO Guy D. Benhamou said that the reports got it all wrong — the issue is not fraud, but subjective interpretations of what constitutes a “good” diamond. In a statement, Benhamou said that “it is well known that since gemology is not an exact science, the same diamond sent to several gem labs could produce different grading results. You can receive different grades for the same diamond from several different labs. That does not mean that any of the diamond labs made a mistake, it is simply in the nature of the business. Any diamond grader and lab will tell you that.”
232.08 carat D colour Type IIa diamond recovered by Petra diamonds at the Cullinan mine in South Africa. The diamond is of exceptional size and clarity, and is a incredible example of the large, high quality diamonds for which the Cullinan mine is renowned.
Gem Diamonds Ltd has had a 50 percent value increase this year. Rough diamond prices have risen about 14 percent year to date on Chinese demand.
Gem Diamonds average sales were at $2,747 per carat an increase 58 percent. Gem Diamonds Letseng mine in Lesotho has produced some of the world’s biggest diamonds, including the 603-carat Lesotho Promise.
A polished diamond from the Lesotho Promise is at Graff Diamonds in London. Gem Diamonds reported first two quarter profit of $19.7 million. And Gem reported an increase in sales of 54 percent to $148.9 million.
Gem Diamonds recovered 198-carat the type IIa diamond at its Letseng mine at the end of July. The diamond a top white with no fluorescence will fetch an exceptional price when sold this later this year.
Debswana in Botswana and De Beers Consolidated Mines in South Africa year to date production has increased by 12%.
Total diamond sales were also up 15%, to $3.5 billion. This reflected the reasonably positive outlook for polished diamonds in the key markets of the US, China and India De Beers said in a statement.
De Beers group said that due to the seasonal nature of polished diamond consumption, it expects that H2 will see lower demand for rough diamonds.