Inventory at Sotheby’s rose significantly due to acquisition of the Pink Star, renamed the Pink Dream the 59.60 ct, internally flawless, fancy vivid pink diamond which was sold to diamond cutter Isaac Wolf in November for $83,187,381 USD. The reason Sotheby’s acquired the rare stone is due to Wolf’s default.
Sotheby’s are quite comfortable with their valuation and comfortable in owning it at this price. Sotheby’s is currently pursuing a resolution with the buyer, while also considering other alternatives against the default.
Petra Diamonds has recovered a 29.6 ct blue diamond, possibly the rarest and most coveted in the world.
Cailey Barker at brokers Numis said the diamond could fetch between $15 million and $20 million at auction.
Chief Executive Johan Dippenaar said “this is probably the most significant stone we’ve ever, in terms of blue stones, recovered”. At the mine is located in South Africa.
The world’s largest rough diamond miner De Beers has introduced forward contracts for rough diamond sales.
DTC site holders can order diamonds supply ahead, including the specific quantities and qualities of stones required for monthly productions. Indian jewellers believe the new system could artificial increase rough diamond prices.
The first contract was issued in London on Tuesday and it is anticipated the contracts to bid for supplies for the year will be introduced in 2014.
De Beers posted a 6.29 per cent rise in rough diamond production for the first two quarters of 2013. Overall rough diamond production rose to 14.295 million carats form 13.449 million carats in the period last year.
The producer of gem quality, laboratory grown diamonds is offering one of the purest and largest Type IIa white diamond yet created.
The diamond is that weighs 1.78 carats, is G colour, and SI1 clarity. This follows the 1.29-carat, E colour, VVS2 clarity, which the firm said at the time was the world’s largest, whitest lab-grown diamond. Gemesis current inventory includes more than 1,200 VVS2 and VVS1 clarity grades, as well as a range of E and F colour diamonds.
Gemesis also recently introduced pink laboratory grown diamonds on its e-commerce site last month. The diamond is certified by the International Gemmological Institute.
Our industry is facing a serious crisis with regards to the non-disclosure of synthetic diamonds by certain unscrupulous persons in our trade.
It is a crisis that if it is not halted could lead to loss of confidence in our product bringing with it serious consequences for our industry.
Given the above we all have a collective role and duty to play in protecting our industry.
To this end the World Federation of Diamond Bourses has instructed its Presidents of the Bourses around the world what to do, compiled a statement that is to be incorporated on every invoice/memo and adopted a zero tolerance stance.
We, the World Federation of Diamond Bourses, in conjunction with your laboratory need to collaborate in combating this scourge, each party cannot act alone if we wish to eradicate the problem.
I therefore ask you to please inform us when stones are submitted for the certification without disclosure.
The time has come for us to act and stand together to make sure that consumer confidence and our businesses will be protected at all costs.
A spectacular Deep Orange fancy vivid pear shape diamond found in South Africa, weighing 14.82 carats. The largest known Orange diamond was auctioned for a record price of $35.54m in Geneva.
It is a world record price per carat for any coloured diamond, said Christie’s auction house. The purchaser left the room to a round of applause. Christie’s did not reveal his identity.
Pure orange diamonds, also known as "fire diamonds", are extremely uncommon and few have been auctioned, with the largest never more than 6 carats.
Much has been written in the past month concerning synthetic diamonds being represented as natural diamonds. We at the DMIA believe that it is imperative that the industry respond immediately and forcefully.
DMIA issued a formal call to action 18 months ago in May of 2012 (reprinted below in its entirety) and do so again now. In our view, one of the major problems in attacking this issue is the lack of cohesion from stakeholders all of whom are rightfully very concerned.
As an industry leader DMIA is indeed making progress as we are in constant contact with local as well as Federal law enforcement agencies, the United States Department of State, and our domestic industry leaders; among them GIA, JA, AGS, MJSA, JVC, to mention just a few.
We once again call on the international and domestic leaders from industry, law enforcement, and laboratories to physically gather together as soon as possible and for as long as is necessary to finalize the best approach.
To that end, we reiterate today that we are ready to host a conclave in New York City and will work immediately with our colleagues to make it a reality.
Ronnie VanderLinden, President
Diamond Manufacturers & Importers Association of America
The World Federation of Diamond Bourses (WFDB) has noted with concern the growing tendency of undisclosed synthetic diamonds to enter the market.
The Federation has put out an official warning that it will not stand for the passing off of synthetics as natural. The diamond and Jewellery industry needs to understand that they are personally responsible for what they sell, which is why it is of the utmost importance to know your supplier and the legitimacy of their product whether it is ensuring they are Kimberley Process compliant or disclosing synthetics.
The law is clear and the punishment for fraud will be pursued. The WFDB will work with all legal agencies across the globe to assist in the prosecution of those who participate in this type of fraud in the diamond industry.
DCLA is the only laboratory that guarantees all diamonds have been tested for treatments and natural origin. DCLA is the only laboratory working to the International Diamond Council (IDC) rules in Australia.
An Argyle 1.56 ct, fancy red diamond, has sold for over $2 million the highest price per carat for an Argyle produced diamond ever.
Another 2.51 ct fancy deep pink diamond has set a record for the highest price for a Pink diamond. The total tender has sold but the value for the 64 stones ranging in size from 0.20 carats to 3.02 cts was not disclosed by the Argyle mine in Australia.
