Artisanal small-scale diamond mining initiative launched

Petra Diamonds has launched an artisanal small-scale mining initiative in South Africa. This follows a process of extensive consultation and cooperation with relevant stakeholders.

These include the Department of Mineral Resources and Energy (DMR&E), as mining sector regulator, the Letsemeng Local Municipality, as elected representatives of the community, and the community itself.

Richard Duffy, CE of Petra Diamonds, comments:

“We regard this initiative as another milestone in the Petra legacy and we welcome the Koffiefontein Community Mining Primary Cooperative (KCM) artisanal miners as partners in our industry to complement our own operations and extract optimal benefit from the diamond reserves in Koffiefontein.

“We wish KCM all of the best with this venture and thank our Government and community partners for their continued support of both the project and the KCM.”

Read more about diamond mining

During this project, the aim is to create a framework within which artisanal small-scale mining can be conducted by community members in a legal and regulated manner.

Petra believes that there is a space for artisanal small-scale miners to co-exist with formalised, large-scale mining, since artisanal small-scale mining can often profitably recover diamonds from resources that would be unprofitable, or at best marginal, for a larger operator due to the capital and overhead costs involved.

A decision was taken to make available some of the Tailings Mineral Resources (TMR), notably the resource generally referred to as the “Eskom dump”, for the benefit of the community of Koffiefontein.

The intention is that properly regulated artisanal mining, which would comply with the Kimberley Process Certification Scheme, as well as other standards for such operations set by, inter alia, the United Nations, will be conducted on this resource.

Read more about mining in southern Africa

This is the second artisanal small-scale mining initiative put in place by the company, further to Petra’s efforts and involvement in establishing the artisanal small-scale mining sector in Kimberley.

This culminated in the landmark agreement in 2017 between Kimberley Ekapa Mining JV, in which Petra had a majority interest at the time, and other stakeholders, with the result that available TMRs in Kimberley were allocated to two community-based primary mining co-operatives, Batho Pele and Goede Hoop.

Work on the project at Koffiefontein commenced soon after the conclusion of the above agreement, with the intention to take into account the learnings from the initiative in Kimberley and put in place an artisanal small-scale mining dispensation in Koffiefontein that would be able to both optimally exploit the available resource, and accrue maximum benefit to the community.

To this end, the KCM has been officially established and registered as the primary beneficiaries of this project and the infrastructure and processes required to ensure the operation of this venture have been put in place.

Source: DCLA

Artisanal small-scale diamond mining initiative launched

Petra Diamonds has launched an artisanal small-scale mining initiative in South Africa. This follows a process of extensive consultation and cooperation with relevant stakeholders.

These include the Department of Mineral Resources and Energy (DMR&E), as mining sector regulator, the Letsemeng Local Municipality, as elected representatives of the community, and the community itself.

Richard Duffy, CE of Petra Diamonds, comments:

“We regard this initiative as another milestone in the Petra legacy and we welcome the Koffiefontein Community Mining Primary Cooperative (KCM) artisanal miners as partners in our industry to complement our own operations and extract optimal benefit from the diamond reserves in Koffiefontein.

“We wish KCM all of the best with this venture and thank our Government and community partners for their continued support of both the project and the KCM.”

Read more about diamond mining

During this project, the aim is to create a framework within which artisanal small-scale mining can be conducted by community members in a legal and regulated manner.

Petra believes that there is a space for artisanal small-scale miners to co-exist with formalised, large-scale mining, since artisanal small-scale mining can often profitably recover diamonds from resources that would be unprofitable, or at best marginal, for a larger operator due to the capital and overhead costs involved.

A decision was taken to make available some of the Tailings Mineral Resources (TMR), notably the resource generally referred to as the “Eskom dump”, for the benefit of the community of Koffiefontein.

The intention is that properly regulated artisanal mining, which would comply with the Kimberley Process Certification Scheme, as well as other standards for such operations set by, inter alia, the United Nations, will be conducted on this resource.

Read more about mining in southern Africa

This is the second artisanal small-scale mining initiative put in place by the company, further to Petra’s efforts and involvement in establishing the artisanal small-scale mining sector in Kimberley.

This culminated in the landmark agreement in 2017 between Kimberley Ekapa Mining JV, in which Petra had a majority interest at the time, and other stakeholders, with the result that available TMRs in Kimberley were allocated to two community-based primary mining co-operatives, Batho Pele and Goede Hoop.

Work on the project at Koffiefontein commenced soon after the conclusion of the above agreement, with the intention to take into account the learnings from the initiative in Kimberley and put in place an artisanal small-scale mining dispensation in Koffiefontein that would be able to both optimally exploit the available resource, and accrue maximum benefit to the community.

To this end, the KCM has been officially established and registered as the primary beneficiaries of this project and the infrastructure and processes required to ensure the operation of this venture have been put in place.

Source: DCLA

Hong Kong Protests Depress Luk Fook Sales

Luk Fook’s same-store sales fell 37% in the second fiscal quarter amid protests in Hong Kong and the continued impact of the US-China trade war.

Total same-store sales — at Luk Fook outlets open for more than a year — in Hong Kong and Macau dropped 39% in the three months ending September 30. Same-store gold sales plunged 46%, while gem-set-jewelry purchases slid 26%. The figures are for shops the jeweler operates itself, excluding franchises.

The decline was the “result of high gold prices, high base effect, together with the substantial decline in the number of visitors to Hong Kong due to recent ongoing social activities,” the company noted. “Both the sales volume and average selling price of gem-set jewelry products saw a double digit drop.” Luk Fook is negotiating its rental agreement with all of its landlords in Hong Kong to avoid having to cut jobs, it said.

Overall same-store sales in mainland China slipped 25%, with revenue from gold products falling 28% and gem-set jewelry dropping 18%. While stores in mainland China showed some improvement in the first two weeks of October, sales in Hong Kong and Macau declined even further after the close of the quarter, as the tourism rate to the area continued to descend, the retailer noted. The most recent figures, reported for August, showed a 42% drop in mainland visitors to Hong Kong, according to data from the Hong Kong Tourism Board.

At the end of the quarter, Luk Fook had 210 self-operated stores, of which 136 were in mainland China, 51 in Hong Kong, 12 in Macau and 11 in other locations. The retailer also has 1,745 licensed shops.

Source: DCLA

Hong Kong Protests Depress Luk Fook Sales

Luk Fook’s same-store sales fell 37% in the second fiscal quarter amid protests in Hong Kong and the continued impact of the US-China trade war.

Total same-store sales — at Luk Fook outlets open for more than a year — in Hong Kong and Macau dropped 39% in the three months ending September 30. Same-store gold sales plunged 46%, while gem-set-jewelry purchases slid 26%. The figures are for shops the jeweler operates itself, excluding franchises.

The decline was the “result of high gold prices, high base effect, together with the substantial decline in the number of visitors to Hong Kong due to recent ongoing social activities,” the company noted. “Both the sales volume and average selling price of gem-set jewelry products saw a double digit drop.” Luk Fook is negotiating its rental agreement with all of its landlords in Hong Kong to avoid having to cut jobs, it said.

Overall same-store sales in mainland China slipped 25%, with revenue from gold products falling 28% and gem-set jewelry dropping 18%. While stores in mainland China showed some improvement in the first two weeks of October, sales in Hong Kong and Macau declined even further after the close of the quarter, as the tourism rate to the area continued to descend, the retailer noted. The most recent figures, reported for August, showed a 42% drop in mainland visitors to Hong Kong, according to data from the Hong Kong Tourism Board.

At the end of the quarter, Luk Fook had 210 self-operated stores, of which 136 were in mainland China, 51 in Hong Kong, 12 in Macau and 11 in other locations. The retailer also has 1,745 licensed shops.

Source: DCLA

More Brides Buying Their Own Engagement Rings

US women increasingly buy engagement rings for themselves, and spend more on them than their partners do, De Beers said Monday in its annual Diamond Insight Report.

The proportion of engagement rings financed solely by brides rose to 14% in 2017 from 11% in 2015 and 7% in 2013, according to the report. The trend reflects growth in female purchasing power, one of several social changes impacting the segment De Beers refers to as “commitment jewelry.”

During the four years ending 2017, grooms’ average outlay on engagement rings dropped 13%, while brides’ spending rose 19%, De Beers noted. In 2017, brides who reported buying the ring themselves shelled out an average of $4,400, while grooms spent $3,300, the company said.

“This emphasizes that growing purchasing power among women is a factor to be reckoned with in the commitment space, and not only when it comes to self-purchasing of diamond jewelry,” the company noted.

The 2019 Insight Report focuses on how consumers view love and diamonds amid changing attitudes to relationships. While marriages rates have declined in the US and engaged couples are waiting longer to tie the knot, “love remains a constant,” and consumers are buying diamonds in a wider variety of ways to symbolize it, De Beers explained.

Commitment jewelry — diamond engagement rings, and diamond wedding bands or rings for women — has retained its important place in the market, with just over 70% of US brides acquiring a diamond engagement ring.

However, the global value of men’s gifts of diamond jewelry to women before or after a wedding now exceeds the value of the engagement- and wedding-ring market. Women in the US who cohabit with their partners now account for 10% of the female diamond-jewelry market. Meanwhile, more than 70% of people in same-sex relationships view diamonds as important for celebrating life’s special events, the report continued.

Those four trends — commitment jewelry, “love gifting,” cohabitation and same-sex couples — are the focus of this year’s edition of the De Beers research. Consumers are still attracted to diamonds as an emblem of love, but are approaching the product in new ways that mirror those contemporary modes of living, the company argued.

“While diamonds are still seen as the ultimate symbols of love, the diamond industry must focus on continuing to offer jewelry, brands and retail experiences that meet the modern consumer’s desire for individual products and experiences that reflect their own unique love story,” said De Beers CEO Bruce Cleaver.

Source: DCLA

More Brides Buying Their Own Engagement Rings

US women increasingly buy engagement rings for themselves, and spend more on them than their partners do, De Beers said Monday in its annual Diamond Insight Report.

The proportion of engagement rings financed solely by brides rose to 14% in 2017 from 11% in 2015 and 7% in 2013, according to the report. The trend reflects growth in female purchasing power, one of several social changes impacting the segment De Beers refers to as “commitment jewelry.”

During the four years ending 2017, grooms’ average outlay on engagement rings dropped 13%, while brides’ spending rose 19%, De Beers noted. In 2017, brides who reported buying the ring themselves shelled out an average of $4,400, while grooms spent $3,300, the company said.

“This emphasizes that growing purchasing power among women is a factor to be reckoned with in the commitment space, and not only when it comes to self-purchasing of diamond jewelry,” the company noted.

The 2019 Insight Report focuses on how consumers view love and diamonds amid changing attitudes to relationships. While marriages rates have declined in the US and engaged couples are waiting longer to tie the knot, “love remains a constant,” and consumers are buying diamonds in a wider variety of ways to symbolize it, De Beers explained.

Commitment jewelry — diamond engagement rings, and diamond wedding bands or rings for women — has retained its important place in the market, with just over 70% of US brides acquiring a diamond engagement ring.

However, the global value of men’s gifts of diamond jewelry to women before or after a wedding now exceeds the value of the engagement- and wedding-ring market. Women in the US who cohabit with their partners now account for 10% of the female diamond-jewelry market. Meanwhile, more than 70% of people in same-sex relationships view diamonds as important for celebrating life’s special events, the report continued.

Those four trends — commitment jewelry, “love gifting,” cohabitation and same-sex couples — are the focus of this year’s edition of the De Beers research. Consumers are still attracted to diamonds as an emblem of love, but are approaching the product in new ways that mirror those contemporary modes of living, the company argued.

“While diamonds are still seen as the ultimate symbols of love, the diamond industry must focus on continuing to offer jewelry, brands and retail experiences that meet the modern consumer’s desire for individual products and experiences that reflect their own unique love story,” said De Beers CEO Bruce Cleaver.

Source: DCLA

Letšeng Yields 161ct. Rough

Gem Diamonds has recovered a diamond weighing 161 carats from its Letšeng mine in Lesotho.

The miner found the “high-quality” white, type IIa stone on October 28, it said. Including this rough, Gem Diamonds has retrieved five white stones over 100 carats this year. It also produced a further three of that size in other colors.

In 2018, the mine, known for its large, high-quality stones, yielded 15 diamonds over 100 carats.

Source: DCLA

Letšeng Yields 161ct. Rough

Gem Diamonds has recovered a diamond weighing 161 carats from its Letšeng mine in Lesotho.

The miner found the “high-quality” white, type IIa stone on October 28, it said. Including this rough, Gem Diamonds has retrieved five white stones over 100 carats this year. It also produced a further three of that size in other colors.

In 2018, the mine, known for its large, high-quality stones, yielded 15 diamonds over 100 carats.

Source: DCLA

The Diamond Journey

The Diamond Journey

Botswana Diamonds receives mining permit for Marsfontein

Botswana Diamonds associate Vutomi Mining has secured a mining permit for the diamond bearing gravels and residual unprocessed stockpiles around the Marsfontein mine.

The Marsfontein diamond mine is located in Limpopo, South Africa.

Last month, Botswana Diamonds and Vutomi signed an agreement with Eurafrican Diamond Corporation to mine and process the identified deposits on the Marsfontein project.

EDC has started site establishment, while the commissioning is expected to begin within the next two weeks, thereby ramping up production.

Proceeds from Marsfontein will be used to fund ongoing exploration work in Botswana and South Africa.

Botswana Diamonds chairman John Teeling said: “I am delighted that the Marsfontein Mining Permit has been granted and that site establishment has already commenced.

“I look forward to updating shareholders as the company progresses towards being a diamond producer.”

The Marsfontein mine comprises a kimberlite blow development and the mine’s run of mine grade was 172cpht, at a bottom cut off of +1.2mm.

Marsfontein’s assortment was known to host fancy coloured diamonds.

Evaluation on the gravels and residual stockpiles in and around the mine, conducted at the time of mining, indicated them to be diamondiferous. These deposits were overlooked after the closure of the mine.

BOD, which has a 15% interest in Vutomi, entered an option and earn-in agreement with the latter in 2017 to explore its prospecting rights covering 50,000ha of prospective ground in the Limpopo, North-West and Free State Provinces of South Africa.

Last month, Vutomi secured environmental authorisation over part of the residual diamond-bearing gravels produced from the Marsfontein mine.

In June, Vutomi received approval to sell diamonds recovered during a bulk sampling programme at the Thorny River project.

Source: DCLA

Botswana Diamonds receives mining permit for Marsfontein

Botswana Diamonds associate Vutomi Mining has secured a mining permit for the diamond bearing gravels and residual unprocessed stockpiles around the Marsfontein mine.

The Marsfontein diamond mine is located in Limpopo, South Africa.

Last month, Botswana Diamonds and Vutomi signed an agreement with Eurafrican Diamond Corporation to mine and process the identified deposits on the Marsfontein project.

EDC has started site establishment, while the commissioning is expected to begin within the next two weeks, thereby ramping up production.

Proceeds from Marsfontein will be used to fund ongoing exploration work in Botswana and South Africa.

Botswana Diamonds chairman John Teeling said: “I am delighted that the Marsfontein Mining Permit has been granted and that site establishment has already commenced.

“I look forward to updating shareholders as the company progresses towards being a diamond producer.”

The Marsfontein mine comprises a kimberlite blow development and the mine’s run of mine grade was 172cpht, at a bottom cut off of +1.2mm.

Marsfontein’s assortment was known to host fancy coloured diamonds.

Evaluation on the gravels and residual stockpiles in and around the mine, conducted at the time of mining, indicated them to be diamondiferous. These deposits were overlooked after the closure of the mine.

BOD, which has a 15% interest in Vutomi, entered an option and earn-in agreement with the latter in 2017 to explore its prospecting rights covering 50,000ha of prospective ground in the Limpopo, North-West and Free State Provinces of South Africa.

Last month, Vutomi secured environmental authorisation over part of the residual diamond-bearing gravels produced from the Marsfontein mine.

In June, Vutomi received approval to sell diamonds recovered during a bulk sampling programme at the Thorny River project.

Source: DCLA

De Beers banks on ‘diamonds are for me’

Anglo American unit De Beers said its 2019 marketing budget will exceed last year’s figure of $170 million and will focus on the biggest market the United States, where women lavishing diamonds on themselves has boosted sales.

While U.S. demand has held firm, the diamond market has weakened elsewhere and trade tensions and protests in Hong Kong have dented sales in China, the second largest diamond market.

But luxury groups see potential for growth in jewelry demand, as shown by LVMH’s nearly $14.5 billion offer, made public on Monday, to buy Tiffany & Co.

Esther Oberbeck, group head of strategy at De Beers, the world’s biggest diamond producer by value, said in an interview the company was about to launch new marketing campaigns, focused on the U.S. and China.

She did not specify the budget, but said De Beers’ 2019 spend would exceed last year’s $170 million and was the highest in more than a decade.

The campaigns, which she said would concentrate on “self-purchase and the bridal market”, are based on research carried out for De Beers, published on Monday.

It found the share of U.S. women buying their own engagement ring doubled from 7% to 14% over the five-year period 2013-2017 and that women on average spent a third more than men – $4,400 compared with $3,300.

De Beers sells rough diamonds and jewelry through its Forevermark brand.

Its research anticipates the rough diamond market will recover from a period of oversupply as some mines reach their end of their lives, notably Rio Tinto’s Argyle mine in Australia.

Global consumer demand for diamonds rose by 2% in 2018 to $76 billion and, in dollar terms, China and the United States were the fastest-growing regions, both increasing by 5% year on year, it said.

Demand for diamond jewelry in the U.S. rose by 5% to $36 billion, representing just under half of total global diamond jewelry demand, underpinned by “solid macro-economic factors”, the De Beers research found.

Diamonds are still the leading choice for engagement rings, whether between same sex or heterosexual couples.

But demand for diamond jewelry as a gift to mark all kinds of special occasions, including rewards to oneself, now outweighs demand directly related to weddings, De Beers said.

Source: DCLA

De Beers banks on ‘diamonds are for me’

Anglo American unit De Beers said its 2019 marketing budget will exceed last year’s figure of $170 million and will focus on the biggest market the United States, where women lavishing diamonds on themselves has boosted sales.

While U.S. demand has held firm, the diamond market has weakened elsewhere and trade tensions and protests in Hong Kong have dented sales in China, the second largest diamond market.

But luxury groups see potential for growth in jewelry demand, as shown by LVMH’s nearly $14.5 billion offer, made public on Monday, to buy Tiffany & Co.

Esther Oberbeck, group head of strategy at De Beers, the world’s biggest diamond producer by value, said in an interview the company was about to launch new marketing campaigns, focused on the U.S. and China.

She did not specify the budget, but said De Beers’ 2019 spend would exceed last year’s $170 million and was the highest in more than a decade.

The campaigns, which she said would concentrate on “self-purchase and the bridal market”, are based on research carried out for De Beers, published on Monday.

It found the share of U.S. women buying their own engagement ring doubled from 7% to 14% over the five-year period 2013-2017 and that women on average spent a third more than men – $4,400 compared with $3,300.

De Beers sells rough diamonds and jewelry through its Forevermark brand.

Its research anticipates the rough diamond market will recover from a period of oversupply as some mines reach their end of their lives, notably Rio Tinto’s Argyle mine in Australia.

Global consumer demand for diamonds rose by 2% in 2018 to $76 billion and, in dollar terms, China and the United States were the fastest-growing regions, both increasing by 5% year on year, it said.

Demand for diamond jewelry in the U.S. rose by 5% to $36 billion, representing just under half of total global diamond jewelry demand, underpinned by “solid macro-economic factors”, the De Beers research found.

Diamonds are still the leading choice for engagement rings, whether between same sex or heterosexual couples.

But demand for diamond jewelry as a gift to mark all kinds of special occasions, including rewards to oneself, now outweighs demand directly related to weddings, De Beers said.

Source: DCLA

Alrosa finds diamond over 230 carats, largest in three years

The world’s top diamond producer by output, Alrosa , has unearthed a unique rough diamond weighing over 232 carats, the largest gem-quality specimen found in more than three years.

THE GEM nQUALITY OCTAHEDRON WAS FOUND AT THE UDACNHAYA KIMBERLITE, IN THE YAKUTIA REGION OF SIBERIA

Alrosa 232 carat rough diamond at yakutia

The diamond, dug up at the Udacnhaya kimberlite pipe on October 19, is an octahedron of yellowish hue with several chips. Its dimensions are 40х39х23 mm.

“Such large gem-quality crystals are extremely rare,” deputy chief executive, Evgeny Agureev, said in the statement. “We have not seen them since 2016, when two diamonds weighing over 200 carats were mined.”

Discovered in 1955, the Udachnaya kimberlite pipe is one of the largest primary diamond deposits in the Yakutia region of Siberia and globally. Its diamond output reached 2.385 million carats in the first nine months of 2019.

Alrosa produced more than 43 million carats of diamonds in 2018 from its Russian mines, or about 27% of the world’s total. That’s 18% more than its closest competitor, Anglo American’s De Beers.

Alrosa finds diamond over 230 carats, largest in three years

Source: DCLA

Alrosa finds diamond over 230 carats, largest in three years

The world’s top diamond producer by output, Alrosa , has unearthed a unique rough diamond weighing over 232 carats, the largest gem-quality specimen found in more than three years.

THE GEM nQUALITY OCTAHEDRON WAS FOUND AT THE UDACNHAYA KIMBERLITE, IN THE YAKUTIA REGION OF SIBERIA

Alrosa 232 carat rough diamond at yakutia

The diamond, dug up at the Udacnhaya kimberlite pipe on October 19, is an octahedron of yellowish hue with several chips. Its dimensions are 40х39х23 mm.

“Such large gem-quality crystals are extremely rare,” deputy chief executive, Evgeny Agureev, said in the statement. “We have not seen them since 2016, when two diamonds weighing over 200 carats were mined.”

Discovered in 1955, the Udachnaya kimberlite pipe is one of the largest primary diamond deposits in the Yakutia region of Siberia and globally. Its diamond output reached 2.385 million carats in the first nine months of 2019.

Alrosa produced more than 43 million carats of diamonds in 2018 from its Russian mines, or about 27% of the world’s total. That’s 18% more than its closest competitor, Anglo American’s De Beers.

Alrosa finds diamond over 230 carats, largest in three years

Source: DCLA

Diamond Buying And Selling Tips

You may experience uncertainty when purchasing a diamond, particularly an engagement diamond. This is not unjustified with the increased incidence of treated diamonds, synthetic diamonds and diamond simulants, no to mention incorrectly certified or graded diamonds.

Some Quick Tips

• Buy from a reputable jeweller. A reputable jeweller sells with genuine Diamond Grading Reports or Certificates.
• Buy with a diamond grading report or certificate from an independent and recognised diamond grading laboratory. This ensures you have a natural, untreated diamond that has been graded accurately. DCLA is the only independent and internationally recognised laboratory in Australia.
• Note that a “valuation” or “appraisal” is NOT a certificate.
• Read the certificate carefully to ensure that you make an informed decision
• Price comparison is only possible if you are comparing certified diamonds. Diamond Grading Reports and Certification allows you to compare prices without unknowingly sacrificing quality or natural origin.
• Be cautious of “sales” which appear to be genuine but are nothing more than a large discount off an inflated price. If it seems to good to be true, it probably is.
• Be cautious of internet retailers offering a huge selection of diamonds. Often many are not available – this is a classic baiting scam.
• Buy a diamond that is cold laser inscribed. This identifies the diamond and ensures you get the one described by the diamond’s report or certificate.
• Do not buy your diamond overseas, buy locally. This ensures you have recourse if anything is wrong.
• Diamonds are priced the same way worldwide -there are no cheap diamonds, only lower quality.
• Never buy a diamond without seeing it first. The internet has become the perfect marketplace for selling the “leftovers,” which are impossible to sell for the asking price through traditional diamond channels.
• Do not buy a diamond with a bogus or in-house diamond “certificate”. If you are unsure, do your research on the laboratory that issued the diamond grading report. Examples of in-house “certificates” are manufacturer reports and appraisals generated by the seller.
• The seller’s valuation or certificate it is not independent and may be overstated. Genuine diamond grading laboratories do not sell diamonds nor do the employees have any interests in the jewellery trade, as this represents a significant conflict of interest.
• Do not accept unknown diamond certificates or photocopies of the original diamond grading report or certificate.
• Never shop based on price alone – this generally results in a lower quality, not a better deal. Generally speaking, you will get what you pay for.

Knowledge is key to any decision. Certification is vitally important to ensure you make an informed diamond purchase.

For more information, feel free to contact the DCLA on our Diamond ‘Trustline,’ established as a hotline for all of your diamond inquiries.

When Trading or Selling a Diamond:

DCLA can help you sell or auction your diamond jewellery and get you the correct value:

If you are you considering selling your diamond, but feel as though you have no idea how or where to begin with the process?

This article will give you a few tips to help you along the way.

TIP #1 Diamonds are usually given to display love, making the sentimental value higher to the seller than the actual value to a buyer. Should you be in the market to sell your diamond, make sure you are ready to part with the diamond before beginning the process.

TIP #2 Be sure of the quality and authenticity of what you are trying to sell. Make sure of the quality and the grade of the stone. This is most important for the ultimate value of the diamond. There have been many instances where a seller is committed to selling their diamond only to find out the quality isn’t as described when originally purchased.

There are Jewellers or services available, who will give an unbiased assessment of your stone. But it is far more valuable in the long run to get a report from a recognised Laboratory.

It is also recommended to verify the report matches the Laser inscription before placing your diamond on the market, to assure your diamond is the same stone should it not sell.

TIP #3 Now that you have an accurate report of the quality, make sure you get a realistic selling value. Believing the diamond holds a higher value than it truly possesses will lead to a challenging, frustrating experience which can be dragged out.

An appraiser can assist you with determining a fair selling, price so you can avoid this pitfall. Diamonds are priced in US dollars, so your diamonds price will be affected when converted to your local currency.

A good way to see current retail values is to visit online stores like www.dcladiamondexchange.com.au or bluenile.

TIP #4 There are many ways to sell a preloved diamond or diamond jewellery. Research your selling options to make an educated decision that works best for you. Be it an online market or exploring options through a local jeweller or dealer, be sure you are using the best option for your needs.

Example, if time is not of the essence, an online market or an auction house could be the best way forward. If you want a quick sale, visiting your local dealer may be the best option.

DCLA Diamond Laboratory provides an internationally recognised and respected report to any seller or prospective buyer.

DCLA will provide you with an experience expert to advise you and give you the accurate value protecting you when selling. Our goal is to provide you with as much knowledge as possible.

Source: DCLA 

Diamond Buying And Selling Tips

You may experience uncertainty when purchasing a diamond, particularly an engagement diamond. This is not unjustified with the increased incidence of treated diamonds, synthetic diamonds and diamond simulants, no to mention incorrectly certified or graded diamonds.

Some Quick Tips

• Buy from a reputable jeweller. A reputable jeweller sells with genuine Diamond Grading Reports or Certificates.
• Buy with a diamond grading report or certificate from an independent and recognised diamond grading laboratory. This ensures you have a natural, untreated diamond that has been graded accurately. DCLA is the only independent and internationally recognised laboratory in Australia.
• Note that a “valuation” or “appraisal” is NOT a certificate.
• Read the certificate carefully to ensure that you make an informed decision
• Price comparison is only possible if you are comparing certified diamonds. Diamond Grading Reports and Certification allows you to compare prices without unknowingly sacrificing quality or natural origin.
• Be cautious of “sales” which appear to be genuine but are nothing more than a large discount off an inflated price. If it seems to good to be true, it probably is.
• Be cautious of internet retailers offering a huge selection of diamonds. Often many are not available – this is a classic baiting scam.
• Buy a diamond that is cold laser inscribed. This identifies the diamond and ensures you get the one described by the diamond’s report or certificate.
• Do not buy your diamond overseas, buy locally. This ensures you have recourse if anything is wrong.
• Diamonds are priced the same way worldwide -there are no cheap diamonds, only lower quality.
• Never buy a diamond without seeing it first. The internet has become the perfect marketplace for selling the “leftovers,” which are impossible to sell for the asking price through traditional diamond channels.
• Do not buy a diamond with a bogus or in-house diamond “certificate”. If you are unsure, do your research on the laboratory that issued the diamond grading report. Examples of in-house “certificates” are manufacturer reports and appraisals generated by the seller.
• The seller’s valuation or certificate it is not independent and may be overstated. Genuine diamond grading laboratories do not sell diamonds nor do the employees have any interests in the jewellery trade, as this represents a significant conflict of interest.
• Do not accept unknown diamond certificates or photocopies of the original diamond grading report or certificate.
• Never shop based on price alone – this generally results in a lower quality, not a better deal. Generally speaking, you will get what you pay for.

Knowledge is key to any decision. Certification is vitally important to ensure you make an informed diamond purchase.

For more information, feel free to contact the DCLA on our Diamond ‘Trustline,’ established as a hotline for all of your diamond inquiries.

When Trading or Selling a Diamond:

DCLA can help you sell or auction your diamond jewellery and get you the correct value:

If you are you considering selling your diamond, but feel as though you have no idea how or where to begin with the process?

This article will give you a few tips to help you along the way.

TIP #1 Diamonds are usually given to display love, making the sentimental value higher to the seller than the actual value to a buyer. Should you be in the market to sell your diamond, make sure you are ready to part with the diamond before beginning the process.

TIP #2 Be sure of the quality and authenticity of what you are trying to sell. Make sure of the quality and the grade of the stone. This is most important for the ultimate value of the diamond. There have been many instances where a seller is committed to selling their diamond only to find out the quality isn’t as described when originally purchased.

There are Jewellers or services available, who will give an unbiased assessment of your stone. But it is far more valuable in the long run to get a report from a recognised Laboratory.

It is also recommended to verify the report matches the Laser inscription before placing your diamond on the market, to assure your diamond is the same stone should it not sell.

TIP #3 Now that you have an accurate report of the quality, make sure you get a realistic selling value. Believing the diamond holds a higher value than it truly possesses will lead to a challenging, frustrating experience which can be dragged out.

An appraiser can assist you with determining a fair selling, price so you can avoid this pitfall. Diamonds are priced in US dollars, so your diamonds price will be affected when converted to your local currency.

A good way to see current retail values is to visit online stores like www.dcladiamondexchange.com.au or bluenile.

TIP #4 There are many ways to sell a preloved diamond or diamond jewellery. Research your selling options to make an educated decision that works best for you. Be it an online market or exploring options through a local jeweller or dealer, be sure you are using the best option for your needs.

Example, if time is not of the essence, an online market or an auction house could be the best way forward. If you want a quick sale, visiting your local dealer may be the best option.

DCLA Diamond Laboratory provides an internationally recognised and respected report to any seller or prospective buyer.

DCLA will provide you with an experience expert to advise you and give you the accurate value protecting you when selling. Our goal is to provide you with as much knowledge as possible.

Source: DCLA 

Happy Diwali

Happy Diwali

Phillips to Sell Rare Pink Diamond Collection

Rare pink diamonds from Rio Tinto’s Argyle mine in Australia will lead the upcoming Hong Kong Jewels and Jadeite auction at Phillips next month.

The collection comprises 16 jewelry pieces, each incorporating stones from the Argyle deposit, which is the only known source of pink diamonds and is due to close next year. Chief among these will be a ring that can be converted into a pair of ear studs. The piece, which features two heart-shaped, fancy-intense-purplish-pink diamonds, has a presale estimate of HKD 5.8 million to HKD 6.8 million ($739,860 to $867,423).

Other items include a pair of fancy pink diamond, seed pearl and white diamond earrings designed by London-based jeweler Sarah Ho, which is expected to fetch HKD 110,000 to HKD 150,000 ($14,031 to $19,134). A ring by Singapore-based gemologist Paige Parker, featuring pink, yellow and white diamonds, has a presale estimate of HKD 260,000 to HKD 320,000 ($33,166 to $40,820). Another ring by Hong Kong jewelry designer Karen Suen, in which pink and white diamonds are set around a conch pearl, is meanwhile valued at up to HKD 620,000 ($79,087).

Two further items from the collection, also up for auction, feature Columbian Muzo emeralds alongside Argyle pink diamonds. A necklace, expected to garner up to HKD 2.2 million ($280, 640), will go under the hammer alongside a pair of emerald, white and pink diamond pendant earrings with a presale estimate of up to HKD 630,000 ($80,367).

Additional pieces, outside of the pink diamond collection, include a jadeite bead and diamond necklace, which is expected to fetch between HKD 8.5 million and HKD 11 million ($1.1 million to $1.4 million). A rare Van Cleef & Arpels zip necklace, including diamonds, sapphires and lapis lazuli, is expected to net up to HKD 4.5 million ($574,042).

The auction will take place at the JW Marriott in Hong Kong on November 25. It will be preceded by a three-day public exhibition at the same location.

Source: DCLA

Phillips to Sell Rare Pink Diamond Collection

Rare pink diamonds from Rio Tinto’s Argyle mine in Australia will lead the upcoming Hong Kong Jewels and Jadeite auction at Phillips next month.

The collection comprises 16 jewelry pieces, each incorporating stones from the Argyle deposit, which is the only known source of pink diamonds and is due to close next year. Chief among these will be a ring that can be converted into a pair of ear studs. The piece, which features two heart-shaped, fancy-intense-purplish-pink diamonds, has a presale estimate of HKD 5.8 million to HKD 6.8 million ($739,860 to $867,423).

Other items include a pair of fancy pink diamond, seed pearl and white diamond earrings designed by London-based jeweler Sarah Ho, which is expected to fetch HKD 110,000 to HKD 150,000 ($14,031 to $19,134). A ring by Singapore-based gemologist Paige Parker, featuring pink, yellow and white diamonds, has a presale estimate of HKD 260,000 to HKD 320,000 ($33,166 to $40,820). Another ring by Hong Kong jewelry designer Karen Suen, in which pink and white diamonds are set around a conch pearl, is meanwhile valued at up to HKD 620,000 ($79,087).

Two further items from the collection, also up for auction, feature Columbian Muzo emeralds alongside Argyle pink diamonds. A necklace, expected to garner up to HKD 2.2 million ($280, 640), will go under the hammer alongside a pair of emerald, white and pink diamond pendant earrings with a presale estimate of up to HKD 630,000 ($80,367).

Additional pieces, outside of the pink diamond collection, include a jadeite bead and diamond necklace, which is expected to fetch between HKD 8.5 million and HKD 11 million ($1.1 million to $1.4 million). A rare Van Cleef & Arpels zip necklace, including diamonds, sapphires and lapis lazuli, is expected to net up to HKD 4.5 million ($574,042).

The auction will take place at the JW Marriott in Hong Kong on November 25. It will be preceded by a three-day public exhibition at the same location.

Source: DCLA