A diamond held by dop is polished on rotating automatic cast iron lap
Prices showed signs of stabilizing during April, with an even mix of increases and decreases in many sizes, especially fancy cuts. Overall there were more clusters of price rises than we have seen of late.
It’s too early to positively identify a clear upward trend, but the “end of the lab grown boom” is arguably having an impact. Lab grown prices are now so low – in some case just 10 per cent of natural – that many jewelers are opting not to stock them in inventory and are only buying them on consignment.
In addition the G7 sanctions, in place since 1 March, are now starting to bite, and to slowly push up prices.
They have effectively restored the De Beers monopoly, although its rough production is down by almost a quarter so far this year (as is Rio Tinto’s) and rough sales remain sluggish (down 18 per cent on last year). Meanwhile polished exports from India fell by 27 per cent during March to $1.2bn
Diamond is one of the hardest materials on Earth, as its super-strong carbon lattice structure makes it incredibly resistant to compression.
Theoretical predictions suggest there is another structural form of carbon out there that could surpass diamond in hardness – the problem is, nobody has ever been able to make it.
Now, simulations performed using the fastest exascale supercomputer in the world are helping researchers better understand the stability of diamond at very high pressures. These simulations are also helping create new potential synthesis methods that could one day see this “super-diamond” become a reality. The research is published in the Journal of Physical Chemistry Letters.
Is BC8 diamond 2.0? The basis for this hypothetical “super-diamond” is the eight-atom body-centered cubic (BC8) crystal structure. BC8 is a tetragonally bonded structure that packs atoms even more efficiently than the face-centered cubic (FCC) structure of traditional diamond. BC8 phases for both silicon and germanium have been synthesized at high pressures – and successfully recovered to ambient conditions – but the same is not true for carbon.
“The BC8 phase of carbon at ambient conditions would be a new super-hard material that would likely be tougher than diamond,” said senior study author Ivan Oleynik, a physics professor at the University of South Florida (USF).
“The BC8 structure maintains this perfect tetrahedral nearest-neighbor shape, but without the cleavage planes found in the diamond structure,” explained Jon Eggert, study co-author and chief scientist at the Lawrence Livermore National Laboratory (LLNL) High Energy Density Science (HEDS) Center. Eggert agrees with Oleynik that “the BC8 phase of carbon at ambient conditions would likely be much tougher than diamond.”
Theoretical predictions indicate that a BC8 phase of carbon is possible – and that it would be around 30% more resistant to compression than diamond – but so far scientists have been unable to produce it in a lab.
One step closer to lab-grown super-diamond For this new study, the team was able to carry out multi-million atomic molecular dynamics simulations on Frontier, the fastest exascale supercomputer in the world. These simulations were designed to investigate the extreme metastability of diamond at very high pressures, in conditions that well-exceeded its known range of thermodynamic stability.
This new research was possible thanks to the recent development of very accurate machine learning models for interatomic potentials. These simulations can describe interactions between individual atoms with unprecedented accuracy, even when considering very high-pressure and high-temperature systems.
“By efficiently implementing this potential on GPU-based (graphics processing unit) Frontier, we can now accurately simulate the time evolution of billions of carbon atoms under extreme conditions at experimental time and length scales,” Oleynik said. “We predicted that the post-diamond BC8 phase would be experimentally accessible only within a narrow high-pressure, high-temperature region of the carbon phase diagram.”
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The simulation showed that, at pressures above 10 million atmospheres and temperatures above 4000 Kelvin, the BC8 carbon phase is the most stable form of carbon.
The significance of this is two-fold, the researchers explain. Firstly, this explains the previous failed attempts to synthesize the elusive BC8 phase of carbon seeing as it is only stable under a very narrow range of temperatures and pressures. But it also allows for further predictions of viable compression pathways that might make BC8 synthesis achievable.
Based on their simulations, the research team has proposed a double-shock compression pathway for BC8 synthesis, which is currently being explored in further experiments at the LLNL’s National Ignition Facility. Their ultimate goal is to be able to synthesize a small amount of this BC8 “super-diamond” and then find a way to recover a seed crystal of the material back to ambient conditions.
Super-diamond could already be hiding in distant exoplanets Investigating the properties of “super-diamond” is important, not just because scientists love it when there is a mystery to solve.
Astrophysical observations have discovered a number of carbon-rich exoplanets beyond our solar system. The ultra-high pressures in the interior of these planets may be enough to form diamond as well as the BC8 phase of carbon, the researchers believe.
“Consequently, the extreme conditions prevailing within these carbon-rich exoplanets may give rise to structural forms of carbon such as diamond and BC8,” Oleynik said. “Therefore, an in-depth understanding of the properties of the BC8 carbon phase becomes critical for the development of accurate interior models of these exoplanets.”
Reference: Nguyen-Cong K, Willman JT, Gonzalez JM, et al. Extreme metastability of diamond and its transformation to the BC8 post-diamond phase of carbon. J Phys Chem Lett. 2024
Prices of round, lower-clarity diamonds have performed better this year than their higher-clarity counterparts, as is clear from this graph showing the trend for 1-carat, D to H polished goods. Stones with SI clarity in those categories rose 5% for the period from January 1 to March 12, compared with a 2.2% increase for VS. VVSs slipped 0.4%, while prices of internally flawless (IF) goods fell 3.1%. The figures from RapNet reflect asking prices. Prices of fancies were down for the same period due to high inventories.
This is a correction from the situation in 2023, when prices of round, 1-carat, D to H, SI stones slumped 33% for the full year as consumers shifted from flawed naturals to eye-clean synthetics. The category has regained only some of that ground. Still, the improvement during those nearly two-and-a-half months has been considerable. Why has this happened, and why have higher clarities performed less strongly?
1. What goes down (faster) must come up (faster).
Having lost a third of their value in 2023, SI diamonds had more potential for a base effect going into 2024. By contrast, prices of round, 1-carat, D to H, VS diamonds fell 23% last year, with VVS and IF for the same range both falling 20%.
2. Lab-grown
The improvement in SIs reflects reduced pressure from lab-grown. Competition from synthetics is still there, but the impact appears to be easing. This is partly because price declines for lab-grown at retail have made them feel like less of a luxury product to consumers and damaged their appeal among jewelers. Retailers have the power to guide consumers toward whichever product gives them the most profit.
Last year, the damage to the lower-clarity segment in natural came largely from the fact that consumers could buy a lab-grown diamond with a higher color and clarity for the same or less money. SIs can have visible flaws if you pick the wrong one.
“The customers who wanted natural VS2 plus were never going to buy lab-grown,” said Ari Jain, chief financial officer at New York-based wholesaler House of Diamonds.
3. Impact of price decline and stabilization
Connected to the first two reasons is the fact that severe declines in prices of natural SIs in 2023 have made the category more affordable and therefore more popular for consumers. Jewelers, however, have a different consideration: The price stabilization for natural stones in the past few months has encouraged those who were investing in lab-grown to return to the mined product.
“Prices have come down over the course of 2023 to a place that made natural more attractive,” said Andrew Rickard, vice president of operations at Rochester-based wholesaler RDI Diamonds. “As they’re reverting back to natural, SIs still becomes the economic place to enter.”
4. High-end brands not buying
Many top luxury brands are not buying diamonds at the moment, several market sources observed. This inevitably affects the IF to VVS categories, the preferred clarities for these high-end houses.
The reason could be the state of consumer demand, especially in China, where purchasers lean toward higher clarities than in the US. One of the more compelling explanations is that high-end houses stocked up in 2023 because of concerns that a Group of Seven (G7) ban on Russian diamonds would raise prices of non-Russian production. They later realized that finding the right diamonds with confirmed origin was easier than they expected and are in no rush to add to their inventories.
The US has sanctioned Zimbabwe President Emmerson Mnangagwa for corruption in connection with gold and diamond smuggling, as well as human-rights abuses.
The Treasury Department’s Office of Foreign Assets Control (OFAC) accused Mnangagwa of “providing a protective shield” to gold- and diamond-smuggling networks that operate in Zimbabwe, it said last week. He is also accused of directing Zimbabwean officials to “facilitate the sale of gold and diamonds in illicit markets” and taking “bribes in exchange for his services.”
The US has also restricted Mnangagwa for being a leader or official of entity, including any government entity, that has “engaged in, or whose members have engaged in, serious human-rights abuses,” OFAC explained.
“The Zimbabwe president is a foreign person who is a current or former government official, or a person acting for or on behalf of such an official, who is responsible for or complicit in, or has directly or indirectly engaged in, corruption, including the misappropriation of state assets, the expropriation of private assets for personal gain, corruption related to government contracts or the extraction of natural resources, or bribery,” OFAC stated.
OFAC issued the new sanctions after US President Joe Biden signed an executive order that terminated Zimbabwe’s national emergency and revoked sanctions on the entire country, so as not to target its citizens.
“The US remains deeply concerned about democratic backsliding, human-rights abuses, and government corruption in Zimbabwe,” said Wally Adeyemo, deputy secretary of the treasury. “The changes we are making today are intended to make clear what has always been true: Our sanctions are not intended to target the people of Zimbabwe. Today we are refocusing our sanctions on clear and specific targets.”
Sales slumped at Indian diamond manufacturer Asian Star in the final three months of the year amid a weak market and an oversupply in the midstream.
Revenue on a consolidated basis — which includes subsidiaries in the US, Dubai and Hong Kong — fell 13% year on year to INR 6.98 billion ($84.1 million) in the company’s third fiscal quarter, which ended December 31, it reported last week. Sales slid 24% compared to the previous quarter. Net profit grew 37% to INR 182.5 million ($2.2 million).
Those figures reflected weak demand for diamonds in the US and Chinese markets, which discouraged jewelers from restocking. In China, gold jewelry was more popular throughout the period than those set with diamonds, according to Hong Kong jewelry retailers Chow Tai Fook and Luk Fook.
Revenue from the company’s diamond segment dropped 17% to INR 5.7 billion ($68.7 million), while sales of gold jewelry increased 9% to INR 1.74 billion ($20.9 million).
India will lead demand for natural diamonds in 2024, says David Kellie, CEO of Natural Diamond Council (NDC), as US buyers increasingly switch to lab grown.
“The Indian market remains the strongest growth market in the world because of its strong financial position and changing demographics,” he told The Economic Times, in India.
“Indian women are now financially stronger, and they are driving the demand. The key economic indicators in the US are not yet favourable for a demand recovery in diamond purchase.”
Kellie (pictured) predicts a polarization between the natural and lab grown markets, with a price difference currently at 80 per cent to 90 per cent.
Natural diamonds will become increasingly rare, he said, with no new mines in prospect, and with miners digging deeper, and spending more, to reach remaining deposits.
US polished-diamond imports dropped 21% to $1.5 billion in October, recording a fifth consecutive year-on-year decline, according to recent data from the US Commerce Department. The decrease reflected a fall in the volume of imports as well as a lower average price. Polished imports have not seen a year-on-year rise since May, when the timing of the JCK Las Vegas show prompted an 18% increase.
Source: US Commerce Department data; Rapaport archives.
About the data: The US, the world’s largest diamond retail market, is a net importer of polished. As such, net polished imports — representing polished imports minus polished exports — will usually be a positive number. Net rough imports — calculated as rough imports minus rough exports — will also generally be in surplus. The nation has no operational diamond mines but has a manufacturing sector, so it normally ships more rough in than out. The net diamond account is total rough and polished imports minus total exports. It is the US’s diamond trade balance, and shows the added value the nation creates by importing — and ultimately consuming — diamonds.
Signet Jewelers’ sales fell in its third fiscal quarter as the US economy weakened and engagement-ring demand underwent an expected downswing.
Revenue decreased 12% year on year to $1.39 billion for the three months that ended October 28, the retailer reported Tuesday. Same-store sales those at branches open for at least a year were also down 12%, while net profit slid 69% to $11.7 million.
“These declines were driven by the impact of heightened inflationary pressure on consumers’ discretionary spending and the decline in the bridal category, driven by lower engagements,” the jeweler said in a filing with the US Securities and Exchange Commission.
Sales dropped at all of the company’s store chains, the largest of which are Kay Jewelers, Zales and Jared. Overall bridal revenue slumped 15% to $664.6 million, while sales of fashion jewelry dipped 12% to $448.2 million. Signet’s services division including jewelry rental and repairs offset the declines with a 5% increase for a total of $169.9 million.
The results were in line with Signet’s expectations: The company had forecast sales of $1.36 billion to $1.41 billion for the period and projected that engagement-ring sales would only start recovering in the fourth fiscal quarter, which began October 29. A lull in dating during Covid-19 manifested as a drop in proposals this year, management had explained in the past.
The jeweler barely changed its sales outlook for the full year, predicting revenue of $7.07 billion to $7.27 billion down only slightly from an earlier projection of $7.1 billion to $7.3 billion.
Bridal demand rallied in November as anticipated. Still, sales in the fourth fiscal quarter, which includes most of the holiday shopping season, will likely range from $2.4 billion to $2.6 billion, the company said a decline of up to 10% from last year’s $2.67 billion.
“Trends through Black Friday weekend, including sequential improvement in engagement trends, are performing in line with guidance expectations for the fourth quarter,” said Signet CEO Virginia Drosos. “As we enter the holiday season, jewelry remains a top-of-mind gifting category for consumers in a value-conscious shopping environment.”
Total sales for the jeweler’s first three fiscal quarters fell 10% year on year to $4.67 billion. Net profit for the nine-month period, which ended October 28, rose 85% to $184.2 million because of charges in the previous year relating to litigation and a pension settlement.
Hong Kong retail sales rose in October as tourism to the municipality continued to improve and the government implemented initiatives to stimulate the economy.
Revenue from jewelry, watches, clocks and valuable gifts climbed 27% year on year to HKD 5.1 billion ($653.1 million) for the month, according to data the government’s Census and Statistics Department released Thursday. Retail sales across all product categories increased 6% to HKD 33.77 billion ($4.32 billion).
The growth also reflected a favorable comparison with the same period last year, when the municipality was still operating under strict Covid-19 restrictions, leading to extremely low tourism. Hong Kong derives a large portion of its luxury revenue from tourists — primarily from China — who come to purchase goods. The border between Hong Kong and the mainland reopened at the beginning of the year.
For the first 10 months, proceeds from jewelry, watches, clocks and valuable gifts surged 55% to HKD 50 billion ($6.4 billion). Total retail sales for the period grew 17% to HKD 336.06 billion ($43.03 billion).
In October, 3.5 million visitors arrived in Hong Kong, compared to 80,524 during the same month of 2022. Of those, 2.7 million were from the mainland, versus 47,607 the year before.
“The value of total retail sales increased further in October over a year earlier alongside the continued revival of inbound tourism,” a government spokesperson said. “Further recovery of visitor arrivals should benefit the retail sector. Continued improvement in household income and various activities that bolster the economy, including the ‘Night Vibes Hong Kong’ [events], should also provide support. Yet factors such as tight financial conditions and economic uncertainties could weigh on consumption sentiment.”
Rio Tinto is reshuffling its interests in two Canadian projects as the global miner seeks to focus on assets considered key for the world’s transition to a green economy, such as copper and lithium.
The company has decided to sell its 75% interest in the Fort à la Corne diamond project in central Saskatchewan to joint venture partner Star Diamond Corp. in exchange for shares in the junior.
As a result, Rio Tinto Exploration Canada will own a 19.9% stake in the exploration and development company.
Rio Tinto’s head of exploration Dave Andrews said the company was now “firmly focused” on identifying opportunities in metals and minerals that support the energy transition.
“We are grateful to Rio Tinto for the significant monetary investment and expertise it has contributed to the project over the past more than five years, which has meaningfully advanced what Star Diamond believes is one of the most promising diamond projects in the world,” president and CEO Ewan Mason said in a statement.
Rio Tinto’s move follows years of tension between the partners over the terms of their development agreement. The situation saw both companies face off in court and, at one point Star Diamond considered cutting RTEC out of the project.
The partners reached an agreement on the subject in December 2021, after which RTEC put the project on hold until it could determine whether it wanted to continue or exit the venture. The camp was demobilized, and the project put on care and maintenance in the first quarter of 2023.
Copper and lithium Rio Tinto has also moved to increase its stake in Canada’s Western Copper and Gold Corporation (TSX: WRN), which is advancing the Casino project in the Yukon Territory.
Under the deal, RTEC is acquiring 3,468,208 common shares at a price of C$1.73 per share, or about C$6 million ($4.4m) total. This increases Rio Tinto’s ownership to 9.7% of Western’s outstanding common shares.
Vancouver-based Western Copper and Gold, which remains the sole owner of the Casino project, said it would use the proceeds of this fresh investment to fund specific areas of study with the aim of progressing through permitting to a development phase of the proposed mine.
“We are pleased that Rio Tinto has elected to continue to invest and work with Western to advance the Casino project, with a focus on furthering infrastructure development and streamlining the regulatory process,” CEO Paul West-Sells said in the statement.
Rio Tinto chief executive officer Jakob Stausholm recently said in an interview that the company continued to look for ways to increase exposure to key minerals and metals, particularly copper and lithium.
India saw a slump in polished-diamond exports but an increase in rough imports in October as global demand remained slow and manufacturers brought goods into the country ahead of a two-month shipment freeze.
Polished exports fell 33% year on year to $1.26 billion, the Gem & Jewellery Export Promotion Council (GJEPC) reported earlier this month. Inbound rough shipments rose 9% to $1.02 billion despite a two-month voluntary pause on imports aimed at reducing inventories. The policy came into effect on October 15.
A decline in rough prices ahead of the optional freeze and the Diwali holiday created an opportunity for Indian companies to buy, added GJEPC chairman Vipul Shah.
About the data: India, the world’s largest diamond-cutting center, is a net importer of rough and a net exporter of polished. As such, net polished exports — representing polished exports minus polished imports — will usually be a positive number. Net rough imports — calculated as rough imports minus rough exports — will also generally be in surplus. The net diamond account is total rough and polished exports minus total imports. It is India’s diamond trade balance, and shows the added value the nation creates by manufacturing rough into polished.
Hong Kong-based jeweler Tse Sui Luen (TSL) reported a loss in the first fiscal half amid economic challenges in China and dwindling demand for diamond jewelry.
The company’s net loss came to HKD 58.3 million ($7.5 million) for the six months that ended September 30, compared with a profit of HKD 1.8 million ($230,000) a year ago, TSL said last week. Sales for the period rose 8% to HKD 1.35 billion ($172.8 million).
Revenue in mainland China, TSL’s biggest market, decreased 3.2% to HKD 870.6 million ($111.7 million) as consumers tightened their budgets in light of the challenging economy. The company also sold more gold products as diamond demand dropped.
“Affected by international economic concerns and China’s property sector challenges, consumers are more conservative in their spending,” the company stated. “The Chinese government has rolled out measures to bolster consumer confidence and speed up economic recovery, which has led to some improvement in retail sales. Riding on the uptrend of pure gold demand, the group has focused more on [that] business to partially compensate for the loss of sales caused by the sharp decline in diamond demand.”
In Hong Kong and Macau, sales surged 41% to HKD 407.5 million ($52.3 million) as the municipality saw a steady rebound in tourism following the reopening of its border with mainland China. The company also benefited from the Hong Kong government’s distribution of new stimulus vouchers, as well as large-scale campaigns to stimulate the economy.
“These government initiatives helped the group to achieve a notable increase in the turnover of its Hong Kong and Macau retail business,” Tse Sui Luen added.
Pandora has lifted its outlook for the full year as third-quarter and early fourth-quarter sales remain strong amid the implementation of a new strategy and increased tourism.
The Danish jeweler now expects sales will rise 5% to 6% on an organic basis for 2023, compared with the 2% to 5% rise it had reported earlier in the year, it said last week. The earnings before interest and taxes (EBIT) is unchanged at around 25%.
“We are very pleased with our results this quarter,” said Pandora CEO Alexander Lacik. “Our investments in the brand are attracting more consumers into our stores. We have delivered strong broad-based growth.”
Current trading at the start of the fourth quarter is “healthy,” with like-for-like growth in the high-single-digit levels, Pandora noted.
The company’s sales increased 6% to DKK 5.57 billion ($812.1 million) in the three months ending September 30. Organic growth was 11%, while sales rose 9% on a like-for-like basis. The increase in sales was a result of the jeweler’s investment in further measures through its Phoenix program, a growth and brand transformation strategy it started in 2021. An unexpected pickup in both domestic spending and tourist purchases also drove sales. In addition, the company benefited from the expansion of its lab-grown diamond line, which increased 84% on a like-for-like basis, it said.
Pandora to Woo Gen Z-ers for Revenue Boost
Online sales grew 11% year on year in the third quarter, representing 16% of total revenue for the period. Profit slipped 26% to DKK 543 million ($78.9 million).
“Initiatives under Phoenix are on track and yielding positive results,” the company added. “Additionally, the brand has demonstrated its strength amid a weak macro in 2023. Pandora therefore enters the fourth quarter, the biggest quarter of the year, with confidence.”
Growth at the retail division of Warren Buffett’s Berkshire Hathaway slowed in the third quarter amid a drop in customer traffic.
The unit which includes jewelry chains Borsheims, Helzberg Diamonds and Ben Bridge Jeweler saw sales increase 1% year on year to $4.85 billion, the company reported Saturday. That represented a gentler rise than the 5% gain the company noted the previous year. Pretax earnings for retail rose 4.5% to $414 million.
The decline in the number of shoppers was primarily at the conglomerate’s home furnishings businesses. However, strong sales of cars, which make up the largest portion of Berkshire’s retail division, offset that decrease.
Revenues from the manufacturing of consumer products, including jewelry maker Richline Group, grew 2% to $3.77 billion, while pretax earnings surged 78% to $483 million.
Visit rapaport.com/sanctions for facts and support. Martin Rapaport will fast for three days next week — Tues.-Thurs., Nov. 7-9 — to protest WDC’s support for Kimberley Process that certifies Russian diamonds. Trade is urged to fast for one day, Tuesday, Nov. 7, as WDC and KP meet in Zimbabwe. Prices of rounds stabilizing; 1 ct. RAPI +0.3% this week but -2.2% for Oct. Fancies still falling. Surat factories to close for three weeks over Nov. 12 Diwali holiday. NY DDC to hold Israel trade week Nov. 27-30.
Van Cleef & Arpels’ Legend of Diamonds High Jewellery collection is an epic statement of the maison’s most exceptional crafts.
It could be said that the story behind Van Cleef & Arpel’s Legend of Diamonds collection began in 2018 with the discovery of an extraordinary rough. The Lesotho Legend is the fifth-largest diamond rough found in the southern African country’s Letseng Mine – which, apart from having provided this and other legendary gemstones, is known for its commitment to complete traceability of rough stones. Van Cleef & Arpels, which for decades had bought no roughs, preferring to start with cut and faceted stones that are already suitable for use in jewellery, found the stone much too rare to pass up. Breaking with its own customs, the French jeweller acquired it. In the words of President and CEO, Nicolas Bos: “This is the first time in decades that we’ve been involved in a project from its starting point – the extraction of the stone – to the creation of a High Jewellery collection. The appearance of this extraordinary rough stone gave us this unique opportunity to tell a story around the diamond.”
And tell a story the maison certainly did.
The Lethoso Legend was sent to the best diamond cutters in Antwerp and yielded 67 diamonds totalling 441.74 carats. They were perfect Type 2A, D colour diamonds, with clarity ranging from Flawless to Internally Flawless (the highest standard) and, more importantly, the diamonds were cut to the taste and standards of Van Cleef & Arpels. The maison has a penchant for fancy cuts, ovals, pears, emeralds and Asscher, and, among them, the biggest specimen was a 79.35-carat oval-shape.
Collerette Mystérieuse transformable necklace
Van Cleef & Arpels told the story of the Legend of Diamonds over two chapters, envisioning first, a chapter that paid tribute to the Mystery Set technique that’s synonymous with the house, and the second, a chapter rendered in all white diamonds paying tribute to trends and timeless styles from its archives.
When the collection was finished in 2022, four years after its conception, it toured the world. After restrictions are lifted on this side of the world, the high jewellery pieces arrived in Japan earlier this Spring, and we flew over to join the launch event.
A legendary collection deserves to be spotlighted at a legendary location – and Meiji Kinenkan was it. The venue was built in 1881 as a dining and reception hall to receive important envoys to the Akasaka Temporary Palace, and it was there, under an exquisite Meiji Era mural of golden pheasants and peonies, that the Legend of Diamonds were presented to us. Over a fine meal of white asparagus mousse, smoked lobster and wagyu prepared by three-Michelin-starred chef Kei Kobayashi, who had flown in from Paris for the special occasion, we watched models glide between our tables and gasped over the extraordinary pieces that adorned their necks, ears, wrists and hands.
Chevron Mystérieux necklace and earrings with detachable pendants
The brief to Van Cleef & Arpels’ Design Studio, its workshops at Place Vendôme, was an ambitious one. Not only were the designers tasked to work with hugely important diamonds that were cut from the Lesotho Legend, but they were also tasked to uphold one of Van Cleef & Arpels’ most recognizable style through the 25-piece collection – the Mystery Set technique. Director Thomas Pozsgai recalls the first six months of designing the collection as “particularly intense” as the Design Studio rarely designs with diamonds that had not taken their final shape. The next challenge lay with the artisans, who used more than 30,000 hours of work to produce the pieces, taking into consideration the designs, the mechanical elements, the wearing comfort, and the transformative magic of the pieces.
The 25 Mystery Set Jewels chapter marks the first time Van Cleef & Arpels has used the Mystery Set technique on its entire collection. The setting technique, which was patented in 1933, conceals the metal on the pieces entirely so that only the beauty and sparkle of the stones come through. Only a handful of artisans today know the immensely difficult process of mystery setting. The gemstones, usually rubies, but also sapphires and more rarely emeralds and diamonds – are fitted onto gold rails that hold the jewels in place. Each jewel is meticulously, masterfully hand-cut with grooves so that they can be slid snugly on to the metal structure.
Traditional Mystery Set emeralds
The Legend of Diamonds – 25 Mystery Set celebrates the unique setting style, but it also celebrated another hallmark of Van Cleef & Arpels’ technical ingenuity – the transformability of its jewels, which is embodied by pieces such as 1938’s Passe-Partout model or the Zip necklace from the 1950s.
These techniques are best exemplified by key pieces like the Chevron Mystérieux necklace, which takes inspiration from 1950s fashion and the crossover collars that were a popular detail on evening gowns of the era. From the collar necklace, three majestic pear-cut diamonds hang precociously, the centre stone measures over 31 carats, flanked by two others weighing 12.18 and 12.07 carats respectively. And then of course, the beautiful composition of the sapphires and Mystery Set emeralds that make up the rest of the necklace, the complex setting showcasing the emerald’s intense and uniform gleam, uninterrupted by any hint of metal, and contrasted with the deep hue of the blue sapphires. The necklace is not just transformable in one way, but six. The central motif for example, could be worn as a pendant upon a simpler chain, and the two other diamonds can be worn as earrings.
Setting the rubies on the bezel
The Collerette Mystérieuse is another couture-inspired collar necklace that drapes across the wearer’s neck in a stunning explosion of diamonds and Mystery Set rubies, edged with a line of pink sapphires and square-cut diamonds that depicts delicate lace, fastened at the nape with a beautifully set diamond bow. Two shining white diamonds take centre stage – both perfectly proportioned emerald cuts, with one over 51 carats and the other just over 10 carats. The larger diamond can be detached to form a ring, and is complimentary to the Individual Mystery Set ruby design which can be placed on the pendant. The Individual Mystery Set technique is a later technique that the maison mastered in 1937, in which the stones could be held in the metal individually.
The second chapter, Legend of Diamonds – White diamond variations highlights the purity of white diamonds itself, celebrating Van Cleef & Arpels’ connections to the precious stone since 1906. The maison’s first jewellery sale, according to its archives, was said to be a heart set with brilliant white diamonds. White diamonds have always been reserved for Van Cleef & Arpels’ most precious motifs – and in this chapter, the maison has rendered some of the most meaningful motifs and pieces in its heritage into new high jewellery pieces.
Legend of Diamonds Envol de diamants necklace
We’re invited to see this important connection to its heritage for ourselves at the Legend of Diamonds event in Tokyo. The maison had arranged for a selection of its archived jewellery to be displayed alongside the new High Jewellery collection. The 1950s was a period of glamour and success, jewellery dripping with diamonds found its way to Hollywood and the big screen. Designs from this period prioritized the interplay of different gem-cuts on an openworked structure, and from the collection, the Fabulous Fifties necklace features this popular style splendidly. Complimenting the necklace is the Chemin de diamants ring, which embodies a distinct style the maison has used since the 1940s – the snowflake setting, which combines round diamonds of various sizes to create depth and sparkle.
The Envol de Diamants necklace was one that caught our attention. The original was a creation Van Cleef & Arpels made in 1956, a commission by Marcel Dassault to the famed pilot Jacqueline Auriol, who in 1953 became the first European woman to break the sound barrier. Paying homage to the 1956 necklace, the new Legend of Diamonds piece creates the illusion of an airplane’s tail in only white diamonds and gold.
Chemin de diamant ring and Fabulous Fifties necklace
Van Cleef & Arpels’ classic clips and brooches are honoured in the Face À Face Clips, a double facing jewellery brooch that imitates the arch formation of dancers in Diamonds, one of the three tableaux in the George Balanchine ballet Jewels. Ballet has fascinated Van Cleef & Arpels since the 1940s and ballerinas have featured heavily in its portfolio since then. This more abstract aesthetic of the Face À Face clip is more akin to the trends of 1930s, but maybe in some ways, more easily wearable on various occasions today.
The Legend of Diamonds collection, at long last arriving in Hong Kong, is not just an immensely beautiful collection to see and to own, but a celebration of an incredible milestone – the acquisition of a legendary stone, encapsulated in a legendary collection that spotlights the most important years in the maison’s history.
A 7 year old girl on a birthday trip to Crater of Diamonds State Park in Arkansas found a big present a 2.95 carat diamond.
Arkansas State Parks said Aspen Brown of Paragould, Ark., was visiting the park with her family to celebrate her birthday when she spotted the diamond in the park’s north search area.
Officials said the 2.95 carat diamond is about the size of a green pea, with a golden-brown color.
The diamond is the second largest found by a park visitor this year, officials said. The largest was a 3.29 carat brown diamond found in March.
The Murfreesboro park was mined by commercial diamond hunters before becoming a state park in 1972.
Hong Kong retail sales continued to gain speed in July as tourists flocked back to the municipality and the job market improved.
Hong Kong retail sales from jewelry, watches, clocks and valuable gifts climbed 20% year on year to HKD 4.95 billion ($632.9 million) for the month, according to data the government’s Census and Statistics Department released last week. Retail sales across all product categories rose 17% to HKD 33 billion ($4.22 billion).
The growth also reflected a favorable comparison with the same period a year ago, when Hong Kong was experiencing tight Covid-19 restrictions. Tourism to the municipality was exceptionally low at the time. Much of Hong Kong’s luxury revenue is derived from visitors — primarily from China — who travel there to purchase goods. Hong Kong’s border with the mainland reopened at the start of the year.
For the first seven months, proceeds from jewelry, watches, clocks and valuable gifts surged 64% to HKD 35.36 billion ($4.52 billion). Total retail sales for the period jumped 20% to HKD 238.05 billion ($30.43 billion).
In July, 3.6 million visitors arrived in Hong Kong, compared to 48,048 during the same month last year. Of those who traveled to the municipality in June, 3 million were from the mainland, versus 40,083 in 2022.
“The value of total retail sales continued to increase visibly in July over a year earlier alongside the increase in visitor arrivals and positive consumption sentiment,” a government spokesperson said. “The revival in inbound tourism should continue to benefit the retail sector in the coming months. Improved labor-market conditions and the government’s various measures to support consumption should also help.”
