It can be challenging to determine the exact location where a diamond was mined, but there are several ways to get an idea of its origin:
Diamond certificate: A diamond certificate or grading report from a reputable laboratory such as GIA, AGS, HRD, IGI or DCLA will provide information about the diamond’s characteristics, including its colour, clarity, and carat weight. Some certificates may also include information about the diamond’s origin or a statement that the diamond is of natural origin.
Inscription: Some diamonds may have a laser inscription on the girdle (the thin outer edge) of the diamond that identifies the diamond’s report and sometimes brand origin or other information about the diamond. The inscription is a laser inscription or a micro-inscription that can only be viewed under magnification.
Jewellers and diamond dealers: An experienced jeweller or diamond dealer may be able to provide information about the diamond’s origin based on their knowledge and experience in the industry.
Diamond tracing programs: Some diamond companies offer programs that trace the origin of their diamonds from the mine to the consumer. For example, the De Beers Group has a program called Tracr that provides a digital certificate of a diamond’s journey from mine to retailer. It’s important to note that not all diamonds can be traced to their exact origin, but the above methods can provide some information about a diamond’s potential source.
Diamonds can be found in various places around the world, but the most famous diamond sources are:
Botswana: Botswana is the world’s leading producer of diamonds by value and is responsible for about 25% of the world’s diamond supply.
Russia: Russia is the world’s largest diamond producer by volume, accounting for about 27% of global diamond production. The majority of diamonds mined in Russia come from the Yakutia region in northeastern Russia.
Canada: Canada is the world’s third-largest diamond producer, and its diamond mines are known for producing high-quality gemstones. The majority of Canada’s diamond mines are located in the Northwest Territories.
Australia: Australia is known for producing some of the world’s most valuable pink and red diamonds. The Argyle Diamond Mine in Western Australia was the world’s largest source of pink diamonds until its closure in 2020.
South Africa: South Africa is one of the earliest sources of diamonds, and the country’s Kimberley region is famous for its diamond mines. The Cullinan Diamond, the largest rough diamond ever found, was discovered in South Africa in 1905.
HRD Antwerp has sued its former Turkish partner company following allegations the Belgian laboratory had routinely “upgraded” diamonds.
The organization is in a dispute with Enstitü Istanbul Bilim Akademisi Yönetim Danışmanlığı, with which it ended a longstanding collaboration in 2021.
The messy divorce intensified last week when the Belgian press reported allegations that HRD, in 2020, had introduced a strategy of giving diamonds higher grades than other laboratories. On Wednesday, HRD said it had taken legal action against its former partners in Turkey for “damaging its business reputation.”
Belgian lawsuit
The disagreement revolves around a civil lawsuit that Enstitü Istanbul Bilim Akademisi Yönetim Danışmanlığı filed in late 2021 against HRD at an Antwerp court, according to a March 9 report by Belgian newspaper De Tijd. Investigators have also been looking into whether there was anything suspicious about the HRD’s grading methods, the report added.
Nearly six years ago, according to De Tijd, the International Diamond Council (IDC) — which the World Federation of Diamond Bourses (WFDB) set up in the 1970s to unify diamond grading around the world — excluded HRD from its membership. In a letter to HRD’s then CEO Michel Janssens, IDC president Harry Levy wrote that it was “no longer the case” that HRD graded according to IDC rules, the newspaper reported.
By then, HRD was in a bad financial state, according to leaked internal slides that the newspaper cited. This was still the case in 2020, when another leaked document read: “With current results, HRD is out of business,” the Dutch-language report said.
In a new strategy, HRD determined that stones that already had Gemological Institute of America (GIA) reports were allowed to receive one or two color “upgrades” or one clarity “upgrade,” the report alleged. The lab was not to downgrade the diamonds unless there had been a genuine mistake, the report continued. Stones from IGI were not allowed to receive an upgrade, it said. The paper cited an internal online meeting in which Mike Davey, then director of HRD Antwerp Istanbul, shot down the policy as a “way to commit market fraud.”
In the same meeting, HRD Istanbul owner Mehmet Can Özdemir said, according to the report: “Valuing diamonds involves a certain amount of subjectivity. If things are really tight, graders can go higher or lower. But that is never about one full degree. In our scenario, we immediately jump up two.”
HRD performed an audit of its standards following the allegations and found no irregularities, its CEO, Ellen Joncheere, told Rapaport News Wednesday.
“We are in fact a bit more lenient [than the GIA] on color but stricter on cut and fluorescence, but this is known by the market,” Joncheere said.
Trademark disagreement
On Wednesday, HRD also responded with allegations that Özdemir had “made shady deals” and had used HRD’s power and reputation unfairly.
“One of the main reasons for the termination [of the partnership] was that the partners holding the management of the company did not transfer the trademark ‘HRD,’ which was unfairly registered in the name of HRD Istanbul, to the clients [HRD Antwerp], despite their previous commitments,” said Tuncay Çaltekin, HRD Antwerp’s attorney, in a statement Wednesday.
The partners also placed liens on the HRD trademark through other companies owned by their family members and transferred HRD’s assets into those companies, Çaltekin alleged. “In other words, they committed irregularities contrary to the agreement,” he claimed.
Meanwhile, Joncheere gave an interview to Belgian newspaper Het Laatste Nieuws (HLN), published Wednesday, in which she alleged there had been “tax and financial fraud” at the Turkish counterpart.
Özdemir dismissed the CEO’s claims as “pathetic, dishonest and desperate.”
As of 2021 the laboratory-grown diamond trade market was estimated to be worth around $1.9 billion, according to a report by Frost & Sullivan.
This market is expected to grow significantly in the coming years, with some estimates suggesting that it could reach a value of over $15 billion by 2035.
laboratory-grown diamond trade has been growing steadily in recent years. There are several factors driving this growth.
Price: Laboratory-grown diamonds are typically less expensive than natural diamonds, which makes them an attractive option for consumers who are looking for high-quality jewelry at a more affordable price.
Ethical concerns: Some consumers are hesitant to purchase natural diamonds due to concerns about ethical issues such as conflict diamonds. Laboratory-grown diamonds are considered to be a more ethical alternative, as they are produced in a controlled environment and do not have the same potential ethical issues as natural diamonds.
Environmental concerns: The process of mining natural diamonds can have a significant environmental impact. Laboratory-grown diamonds are generally considered to be more environmentally friendly, as they do not require mining.
Advancements in technology: The technology used to produce laboratory-grown diamonds has improved significantly in recent years, making it easier and more cost-effective to produce high-quality diamonds. All of these factors have contributed to the growth of the laboratory-grown diamond trade, and it is expected to continue to grow in the coming years.
The answer is not yet: It is worth noting that natural diamonds still hold a significant share of the diamond market, and it remains to be seen how much of an impact laboratory-grown diamonds will have on the industry as a whole over the next decade.
Diamond Colour is one of the 4c’s used to calculated diamond value
Polished diamond prices are derived from a variety of factors, including supply and demand, the quality and characteristics of the individual diamond, and market conditions.
The prices of polished diamonds are primarily determined by the 4Cs: carat weight, colour, clarity, and cut. These factors are assessed by gemologists and other experts who evaluate the diamond’s physical properties, such as its size, colour, clarity, and overall quality of cut.
Other factors that may influence the price of polished diamonds include the type of diamond, such as whether it is a natural or lab-grown diamond, the country of origin, and the overall market conditions for diamonds. Additionally, the reputation and credibility of the seller or the dealer can also affect the price of the polished diamond.
Overall, polished diamond prices are determined by a complex combination of factors, and can fluctuate over time based on changes in supply and demand, market conditions, and other economic and industry factors. There is no single diamond price list that accurately reflects the prices of all diamonds. This is because the price of a diamond depends on a number of factors, including its size, shape, colour, clarity, and other characteristics.
That being said, there are various industry-standard diamond price lists that are commonly used as references by professionals in the diamond trade. These lists are typically based on a standardized grading system and provide price ranges for diamonds of different sizes, shapes, and quality grades.
The most commonly used diamond price list is the Rapaport Diamond Report, which provides a benchmark price for diamonds based on their 4Cs grading (carat weight, colour, clarity, and cut). However, it is important to note that the Rapaport price list only reflects the wholesale price of diamonds and may not necessarily reflect the retail price that consumers will pay.
Other diamond price lists include the International Diamond Exchange Price List, the Idex Diamond Price Report, and the Polished Prices Diamond Index, among others. These price lists may differ in their methodologies and grading systems, and the prices they list may vary slightly from one another.
Ultimately, when buying or selling a diamond, it is important to work with a reputable and knowledgeable diamond professional who can help you evaluate the diamond’s characteristics and provide you with an accurate price estimate based on current market conditions. Source: Michael Cohen DCLA
Diamond traceability refers to the ability to track the journey of a diamond from its source to the market. This includes tracing the diamond’s origin, the path it takes through the supply chain, and the ultimate destination where it is sold to consumers.
Diamond traceability is important for a number of reasons. For one, it can help ensure the ethical and sustainable sourcing of diamonds, by allowing for greater transparency and accountability in the supply chain. This can help prevent the trade of conflict diamonds, which are used to finance armed conflict and human rights abuses. Additionally, diamond traceability can help provide assurance to consumers that the diamonds they purchase are of high quality and have been sourced responsibly.
The diamond industry has established various initiatives to promote diamond traceability, including the Kimberley Process Certification Scheme, which aims to prevent the trade of conflict diamonds, and the Responsible Jewellery Council, which sets standards for responsible sourcing practices in the industry. Additionally, some diamond producers have implemented blockchain technology to enable the secure tracking of diamonds throughout the supply chain.
Certification is another key aspect of diamond traceability. By obtaining a diamond certificate, which includes a record of the diamond’s characteristics and its journey through the supply chain, consumers can be assured that the diamond they are purchasing is of high quality and has been sourced responsibly. Overall, diamond traceability is an important aspect of the diamond industry, as it can help promote responsible sourcing practices and provide assurance to consumers about the quality and authenticity of the diamonds they purchase.
While it may not be possible for an individual to physically track a diamond from the source, certification and other industry initiatives can help ensure the ethical and sustainable sourcing of diamonds, as well as provide assurance to consumers about the quality and authenticity of the diamonds they purchase.
One technique used to determine the origin of diamonds is through the analysis of their chemical composition. Diamonds from different geographic locations can have different trace elements and isotopic compositions, which can be used to identify their origin. For example, diamonds from different mines in South Africa can have different isotopic signatures.
Another method to determine the origin of a diamond is through the use of spectroscopy, which involves analyzing the unique spectral characteristics of a diamond. This can provide clues about its origin and the geological conditions under which it formed.
It’s worth noting that while these techniques can provide clues about a diamond’s origin, they are not foolproof and may not provide a definitive answer in every case. Nonetheless, advances in technology and the diamond industry’s commitment to responsible sourcing have made it increasingly possible to track and trace diamonds from their source.
Argyle pink diamonds are extremely rare and highly sought-after, making them some of the most valuable diamonds in the world. The Argyle diamond mine in Western Australia is the primary source of pink diamonds, and it is estimated that only 0.01% of the diamonds recovered from the mine are pink in colour, with an even smaller percentage being of the highest quality.
The Argyle mine ceased operations in 2020, which has led to speculation that the prices of pink diamonds, including argyle pink diamonds, may increase in the coming years. With the mine no longer producing new stones, the limited supply of these rare diamonds is expected to drive up demand and prices. However, like any investment, it’s important to carefully consider market trends and consult with a qualified professional before making any decisions.
The largest pink argyle diamond found to date is the Argyle Pink Jubilee, which was discovered at the Argyle mine in Western Australia in 2011. The diamond weighs 12.76 carats and is a vivid pink colour, making it one of the largest and most valuable pink diamonds ever found. The Pink Jubilee was cut and polished over a period of ten months, during which time the rough diamond was studied and analyzed extensively to determine the best way to bring out its natural beauty and maximize its value. The diamond was sold at auction in 2013 for an undisclosed sum, but it is believed to have fetched a record-breaking price per carat for a pink diamond.
Red diamonds are extremely rare, even more so than pink diamonds. It is estimated that only a handful of natural red diamonds are found each year, and most of them are less than half a carat in size. Red diamonds are so rare that many jewelers and gemologists may go their entire careers without ever seeing one.
The red colour in diamonds is caused by the presence of a rare mineral which causes “graining,”, This occurs when the crystal structure of the diamond is distorted during its formation. The graining causes the diamond to absorb green light and reflect red light, resulting in a beautiful and distinctive red hue. Because of their rarity, red diamonds are among the most valuable and expensive gemstones in the world. They are highly sought-after by collectors and investors, and prices for top-quality stones can reach millions of dollars per carat at auction.
Blue diamonds are also quite rare, but not as rare as pink or red diamonds. Blue diamonds account for only about 0.02% of all diamonds mined worldwide. The blue colour in diamonds is caused by the presence of trace amounts of boron during their formation, which causes the diamond to absorb red, yellow, and green light, resulting in a blue hue.
Blue diamonds are highly prized for their unique colour and rarity, and they can command very high prices at auction. The value of a blue diamond depends on a variety of factors, including its size, colour intensity, clarity, and overall quality. Blue diamonds range in colour from pale blue to vivid blue, with the most valuable stones being those with a deep, rich blue colour.
One of the most famous blue diamonds is the Hope Diamond, which is a 45.52-carat blue diamond that is part of the Smithsonian Institution’s collection of natural history specimens.
The most expensive diamond ever sold is the Pink Star, a 59.60-carat oval-cut pink diamond that was sold for $71.2 million at a Sotheby’s auction in Hong Kong in 2017. The diamond, which is the largest internally flawless fancy vivid pink diamond ever graded by the Gemological Institute of America (GIA), was mined in Africa in 1999 and took two years to cut and polish.
The Pink Star was originally sold at auction in 2013 for a record-breaking $83 million, but the sale was later cancelled after the buyer defaulted on the payment. The diamond was put back up for auction in 2017 and sold to a jewelry retailer in Hong Kong for $71.2 million, setting a new world record for the most expensive diamond ever sold at auction.
Yellow diamonds are not as rare as pink, red, or blue diamonds, but they are still considered rare and highly prized. Yellow diamonds are formed when nitrogen atoms are trapped in the crystal lattice structure of the diamond during its formation, causing it to absorb blue light and reflect yellow light.
The intensity of the yellow colour in a diamond can vary widely, ranging from a pale yellow or light lemon colour to a deep, intense yellow. The most valuable yellow diamonds are those with a deep, rich colour that is evenly distributed throughout the stone.
Yellow diamonds are mined in various parts of the world, including South Africa, Australia, and Canada. While yellow diamonds are not as rare as some other coloured diamonds, high-quality yellow diamonds can still command very high prices at auction, especially those with a large carat weight and intense colour.
Orange diamonds are considered rare and highly valuable. The orange colour in diamonds is caused by the presence of nitrogen and other impurities in the crystal lattice structure of the diamond, which absorb blue and green light, resulting in an orange hue.
Orange diamonds can range in colour from pale orange to a deep, vivid orange, with the most valuable stones being those with a pure and intense colour. Orange diamonds are not as commonly found as white or yellow diamonds and are considered much rarer than brown or gray diamonds.
The most famous orange diamond is the Pumpkin Diamond, a 5.54-carat fancy vivid orange diamond that was mined in South Africa. The Pumpkin Diamond was sold at auction in 1997 for over $1.3 million, and it is now part of the collection at the Smithsonian Institution’s National Museum of Natural History in Washington, D.C.
The Bank of Tanzania announced that the country’s diamond exports increased significantly to $63.1 million (USD) in value by November 2022. This is more than seven times of the $8.4 million export value that was recorded in the year-over year analysis since November 2021.
The good performance of the company has been attributed to the country’s diamond producer Williamson Mines which has temporarily shut down operations due to a recent tailings breach on November 7, 2022. The mine is an open pit operation located on the 146-hectare Mwadui kimberlite pipe, which is one of the world’s largest economic kimberlites.
The company belongs to the parent company Petra Diamonds, which owns 75 percent of the company, and the Tanzanian government owns the remainder. According to Petra’s official statement, production at the Williamson mine will resume in the 2024 fiscal year.
Sarine Technologies has agreed to acquire a majority share in New York-based Gem Certification and Assurance Lab (GCAL) amid a push to expand in the American market.
“At the beginning of last year, we started ramping up our activities in the US,” Sarine CEO David Block told Rapaport News on Thursday. “Due to that, the discussions with regard to this [deal] ramped up along with our involvement in the US market. This [deal] should be quite a significant jump in the scope of our business in the US.”
Israel-based Sarine has signed a nonbinding memorandum of understanding (MoU) to purchase the stake for an all-cash consideration, it announced in a statement on Wednesday. The parties plan to reach a final agreement in a few months once due diligence is complete, Block said. The companies have not disclosed the sale price or the size of the share.
GCAL will continue to offer its customers the same products and services as before the deal, and its executives will remain in charge, Sarine said.
However, while currently operating out of a single location in New York, GCAL will be able to implement Sarine’s e-Grading — an automated grading service using artificial intelligence (AI) — to develop the lab’s capabilities across the US and globally. The companies will begin integrating their technology and services even before the deal closes, Block explained. Sarine will continue to offer its services independently outside the US.
Founded in 2001 by Don Palmieri, family-owned GCAL is known for providing diamond certificates carrying a guarantee, rather than just reports that act as a description of grades. In 2021, it launched 8X, a cut-grading standard that it claims is more exacting than the industry’s triple Ex score.
“Sarine’s technologies will allow us to continue to abide by [our] key code of ethics while still expanding our services to meet the growing demand by consumers seeking confidence that their acquired products and services meet all norms of quality and sustainability,” said GCAL chief operating officer Angelo Palmieri.
Pink and yellow diamonds from two iconic Rio Tinto mines – Argyle and Diavik – have been brought together to create a unique ring.
It’s called Diavik Midnight Sun and has been valued at $1.24m.
An 18.08 carat fancy intense yellow oval diamond from Diavik, in sub-Arctic Canada, contrasts with an intricate setting of rare Argyle pink diamonds, from the now-closed mine in in the remote East Kimberley region of Western Australia, weighing 4.09 carats in total.
The yellow diamond was cut from a 36.75-ct rough gem, described as one of the finest large yellow diamonds uncovered at Diavik.
Rio Tinto’s general manager of sales and marketing for its diamonds business, Patrick Coppens said “This combination of a rare yellow Diavik diamond and Argyle Pink Diamonds, the rarest diamonds in the world, is a special moment in the history of Rio Tinto’s unique place in the natural fancy coloured diamond industry.
He paid tribute to luxury jeweler Musson for creating the ring. The Diavik Midnight Sun takes its inspiration from the exquisite natural phenomenon that occurs when the sun is seen at midnight in the Arctic, exhibiting beautiful golden and pink hues.
A rivière diamond necklace was the top seller at Christie’s Magnificent Jewels in Hong Kong on Monday, bringing in $5.9 million.
The sale price for the piece, which features 52 round brilliant-cut, D-flawless and internally flawless diamonds weighing a total of 104.84 carats, was within estimates. In total, the November 28 auction achieved $46.2 million, with 50% of the jewels on offer exceeding their high estimates, Christie’s said Monday.
The company sold 86% of available lots, or 82% by value, and drew global participation from 21 countries across three continents.
The auction also included a collection of jewels from Hong Kong actress Rosamund Kwan, which fetched a combined total of $11.1 million. The two leading lots from that sale saw heavily competitive bidding, lasting over 15 minutes, Christie’s noted. The top item in the group was a necklace featuring a pear brilliant-cut, 22.18-carat, D-color, VVS1-clarity diamond pendant with rubies and pink diamonds, which went for $2.1 million, within estimates.
Here are the rest of the top five:
A jadeite, diamond and sapphire necklace by Etcetera sold for $2.8 million against a presale estimate of $2.6 million to $3.8 million.
This cushion modified brilliant-cut, 60.79-carat, fancy-vivid-yellow, VS2-clarity diamond ring brought in $2.7 million, in the middle of its $2.3 million to $3.6 million presale range.
A round brilliant-cut, 19.61-carat, D-flawless, type IIa diamond ring exceeded its $1.7 million to $2.3 million presale estimate, bringing in $2.4 million.
This oval-cut, 5.32-carat Burmese pigeon’s blood ruby ring with pear-shaped diamonds by Cartier Paris achieved $2.1 million, within its expected range of $1.9 million to $2.3 million.
