A pair of fancy vivid orange-yellow diamond earrings sold for almost $8m at Christie’s Hong Kong.
They were the lead item in the Magnificent Jewels sale that raised just over $60m on 29 October.
The Oriental Sunrise earrings feature a pair of Type 1b oval mixed-cut diamonds – 12.20 carats (VVS2) and 11.96 carats (VS1) – surrounded by white shield and tapered baguette-cut diamonds, set in platinum and gold. The pre-sale estimate for the earrings was $6.4m to $10.3m.
Among other highlights was a necklace of 26 oval-shaped rubies (5.38 carat to 1.27 carat), some of them listed as “pigeon blood red” – with white pear and marquise-shaped diamonds, that sold for $6.4m.
A Cartier ring, set with a Type IIa 12.60-carat D-color, IF clarity round-cornered rectangular brilliant-cut Goloconda diamond, sold for $1.4m. The high estimate was $1.1m.
Fancy colour diamonds saw slower growth in the last three months, with an increase of just 0.5 per cent in the FCRF Index, which tracks prices across all colours, sizes and intensities.
That compares with a 1.3 per cent rise during the first quarter of 2023, as reported by the New York-based Fancy Colour Research Foundation, with the biggest increases among yellows.
During Q2, yellows diamonds again drove the increase, with a rise of 6.5 per cent across all categories. Pinks were up 0.2 per cent and blues rose by 0.6 per cent.
The FCRF noted that fancy colour diamonds had again out-performed white diamonds, which saw prices fall 3.5 per cent during the quarter.
Board member Eden Rachminov said: “The first six months of 2023 were intriguing. We experienced notable spikes in certain sub-categories within the yellow category, particularly in the intense and vivid grades with a high inner-grade.
“Meanwhile, the blue and pink categories remained stable. If the world economy continues to maintain its positive momentum, we can anticipate a robust price behavior after the summer.”
The FCRF tracks pricing data for fancy colour diamonds in Hong Kong, New York, Geneva and Tel Aviv.
Only one in 10,000 diamonds found are coloured, according to the Gemological Institute of America.
Average prices for fancy coloured diamonds of any size climbed by 3.9% in 2022, led by yellows and pinks, the Fancy Color Research Foundation (FCRF), a non-profit that promotes transparency and fair trade in the market, said on Wednesday.
The industry body said prices for all yellow diamonds climbed by 4.6% from the previous year, followed by a 3.9% rise in pinks and 1.8% in blues.
The improved prices reached by these diamonds, the FCRF said, contrast with the annual decline in white diamonds prices.
“2022 was a very good year for yellow fancy colour diamonds in all sizes and saturations. It seems like yellow diamonds with high visual grades and in certain shapes increased by more than what is reflected in the Index,” FCRF data supplier, Israel Papushado, said in a statement.
Source: FCRF.
“Pink fancy colour diamonds performed with no significant change in comparison to previous years; however, blue diamonds did not perform as expected, probably due to limitations in the Chinese market,” he noted.
The prices reported by the FCRF are based on its own Fancy Colour Diamond Index, which is built on tracked data for yellow, pink, and blue fancy colour diamonds’ performance in major global trading centres such as Hong Kong, New York, Geneva and Tel Aviv.
Nature bestows fancy colours on about one in every 10,000 rough diamonds of gem quality that are mined around the world.
The precious stones that can be blue, pink or green form a special asset class, relying on a consumer preference for exotic and unusual items. This also means they are less affected by other factors driving supply and demand in the main diamond market.
Sotheby’s will offer a yellow diamond weighing more than 300 carats at its upcoming New York auction, where it is expected to bring in more than $15 million.
The pear-shaped, 303.10-carat, fancy-deep-brownish-yellow stone is one of the largest polished diamonds in the world. It is also the largest flawless or internally flawless diamond ever graded by the Gemological Institute of America (GIA), Sotheby’s said Monday.
Initially called the Incomparable Diamond, the stone was recut from its original 407-carat shield shape to deepen the color and brighten the hue, and renamed the Golden Canary. As the highlight of the December 7 Magnificent Jewels sale, it will be offered without reserve, with bidding starting at $1, Sotheby’s noted.
The Golden Canary was first discovered in the early 1980s in a pile of rubble by a young girl playing in the backyard of her uncle’s house, Sotheby’s noted. Miners from the nearby Miba diamond deposit had considered the stone to be too bulky to be diamond bearing and had discarded it. The girl gave the 890-carat rough to her uncle, who sold it to local diamond dealers. The diamond has since been displayed in multiple museums.
“The demand and appetite for [extraordinary colored diamonds] continues to grow,” said Quig Bruning, head of jewelry for Sotheby’s Americas. “Steeped in history, the Golden Canary is one of the most exquisite diamonds to ever be discovered, not only for its sheer size and intensity in color, but for its stunning beauty that is sure to captivate collectors around the world.”
Sotheby’s will showcase the diamond on a world tour prior to the auction, with stops in cities including Dubai; Taipei, Taiwan; Geneva; and Hong Kong.
Sotheby’s will offer a fancy-vivid-yellow diamond ring at its New York sale next month, estimating the piece could fetch up to $3 million.
The cut-cornered square step-cut, 73.11-carat, VS2-clarity jewel by Mayfair designer Glenn Spiro, called The Sienna Star, is one of the largest fancy-vivid-yellow diamonds to come to auction, Sotheby’s said Wednesday. The piece is one of the top items at the June 9 Magnificent Jewels sale. The auction will feature jewelry for the “Roaring Twenties 2.0” as people return to the social scene following long lockdowns, Sotheby’s noted.
A private collection of six jewels with a combined estimate of more than $13 million are another headline lot at the New York sale. Those include a necklace by Andrew Clunn, set with 28 oval-shaped diamonds totaling over 168 carats, which carries a high estimate of $3 million, and an emerald-cut, 23.59-carat, D-color, internally flawless, type IIa diamond ring with an upper valuation of $2.8 million.
A Colombian emerald and diamond garland necklace by Harry Winston, estimated at up to $2.5 million, and a 13.02-carat Burmese ruby ring, mounted by Carvin French, with a $2 million high valuation, are also part of the collection. Proceeds from the sale of those six items will be donated to charity.
Additionally, Sotheby’s will showcase a Bulgari ring with a 25.29-carat Kashmir sapphire flanked by diamonds, which it expects will bring in up to $3 million. Meanwhile, a modified square brilliant-cut, 3.75-carat, fancy-intense-pink, VVS1-clarity diamond ring, accented by triangle-shaped and round diamonds, is estimated to fetch up to $2.5 million.
The auction house will present jewels from the collection of philanthropist Margaret Jonsson Rogers, the daughter of Texas Instruments founder and Dallas mayor J. Erik Jonsson, as well as property from the estate of Mary Ethel Weinmann, the daughter of Count and Countess André de Limur, it added.
Sotheby’s will offer a fancy-vivid-yellow diamond ring at its New York sale next month, estimating the piece could fetch up to $3 million.
The cut-cornered square step-cut, 73.11-carat, VS2-clarity jewel by Mayfair designer Glenn Spiro, called The Sienna Star, is one of the largest fancy-vivid-yellow diamonds to come to auction, Sotheby’s said Wednesday. The piece is one of the top items at the June 9 Magnificent Jewels sale. The auction will feature jewelry for the “Roaring Twenties 2.0” as people return to the social scene following long lockdowns, Sotheby’s noted.
A private collection of six jewels with a combined estimate of more than $13 million are another headline lot at the New York sale. Those include a necklace by Andrew Clunn, set with 28 oval-shaped diamonds totaling over 168 carats, which carries a high estimate of $3 million, and an emerald-cut, 23.59-carat, D-color, internally flawless, type IIa diamond ring with an upper valuation of $2.8 million.
A Colombian emerald and diamond garland necklace by Harry Winston, estimated at up to $2.5 million, and a 13.02-carat Burmese ruby ring, mounted by Carvin French, with a $2 million high valuation, are also part of the collection. Proceeds from the sale of those six items will be donated to charity.
Additionally, Sotheby’s will showcase a Bulgari ring with a 25.29-carat Kashmir sapphire flanked by diamonds, which it expects will bring in up to $3 million. Meanwhile, a modified square brilliant-cut, 3.75-carat, fancy-intense-pink, VVS1-clarity diamond ring, accented by triangle-shaped and round diamonds, is estimated to fetch up to $2.5 million.
The auction house will present jewels from the collection of philanthropist Margaret Jonsson Rogers, the daughter of Texas Instruments founder and Dallas mayor J. Erik Jonsson, as well as property from the estate of Mary Ethel Weinmann, the daughter of Count and Countess André de Limur, it added.
Prices of fancy-color diamonds increased in the first quarter as the American market showed renewed demand for high-end products, according to the Fancy Color Research Foundation (FCRF).
The group’s Fancy Color Diamond Index gained 0.3% compared with the previous three months, the organization reported Thursday. Prices of blue fancy-color diamonds jumped 0.5%, while pinks increased 0.4%, outweighing a 0.2% decline in the yellow category.
“As the USA rebounds from Covid-19, we are witnessing an uplift in spirits, which in turn affects the demand for luxury goods,” said David Shara, founder and CEO of Optimum Diamonds, one of the companies that supplies pricing data to the FCRF. “We see now, and will see, a continuous rise in prices of fancy-color diamonds.”
The strongest items during the quarter were 2-carat, fancy-intense colored diamonds, for which prices advanced 2.6%, following by 3-carat, fancy-intense stones, which saw a 1.9% increase. The weakest was the 2-carat fancy category, which witnessed a drop of 1.1%.
The fancy-color market ground to a halt during the peak of the Covid-19 pandemic last year, forcing the FCRF to hold off publishing its index for the first and second quarters. Prices in the fourth quarter were 0.8% lower than during the same period of 2019.
Prices of fancy-color diamonds increased in the first quarter as the American market showed renewed demand for high-end products, according to the Fancy Color Research Foundation (FCRF).
The group’s Fancy Color Diamond Index gained 0.3% compared with the previous three months, the organization reported Thursday. Prices of blue fancy-color diamonds jumped 0.5%, while pinks increased 0.4%, outweighing a 0.2% decline in the yellow category.
“As the USA rebounds from Covid-19, we are witnessing an uplift in spirits, which in turn affects the demand for luxury goods,” said David Shara, founder and CEO of Optimum Diamonds, one of the companies that supplies pricing data to the FCRF. “We see now, and will see, a continuous rise in prices of fancy-color diamonds.”
The strongest items during the quarter were 2-carat, fancy-intense colored diamonds, for which prices advanced 2.6%, following by 3-carat, fancy-intense stones, which saw a 1.9% increase. The weakest was the 2-carat fancy category, which witnessed a drop of 1.1%.
The fancy-color market ground to a halt during the peak of the Covid-19 pandemic last year, forcing the FCRF to hold off publishing its index for the first and second quarters. Prices in the fourth quarter were 0.8% lower than during the same period of 2019.
Prices of fancy-color diamonds slipped marginally in the fourth quarter of 2020 as stability in the yellow category helped the sector stave off a heavier slump, according to the Fancy Color Research Foundation (FCRF).
“Although 2020 was challenging in terms of logistics and travel, contrary to market expectations, fancy-color diamond prices proved to be resilient, with minor price decreases across the board,” the FCRF said Monday.
The organization’s Fancy Color Diamond Index for yellows inched down 0.3% year on year in the three months ending December 31, while prices for blues fell 1.3%. Pink fancy-color diamonds decreased 0.9%, with the overall index slipping 0.8%.
The 1.50- and 5-carat categories were the strongest for fancy blues, increasing 0.5% versus the previous quarter, while fancy-vivid blues decreased 0.6%, led by soft prices for 1-carat stones in that category. Pinks stayed mainly flat compared to the third quarter, with 2-carat fancy pinks seeing the highest rise, up 1.4%. In yellows, the fancy-intense, 5-carat segment grew 0.8%, and the price for fancy-vivid, 3-carat stones was up 0.7%. Fancy-yellow, 1.50-carat diamonds increased 0.6% during the period.
The FCRF believes prices of yellows will continue to remain strong throughout 2021.
“2020 was a fascinating year; wholesalers and retailers alike had to overcome many logistical hurdles in order to finalize simple transactions, while demand for fancy-color diamonds was solid,” said FCRF advisory board member Eden Rachminov. “I expect 2021 to be a bullish year for yellows; their current price is relatively low and I think that a price increase is inevitable.”
The index tracks prices of yellow, pink and blue fancy-color diamonds in Hong Kong, New York, Geneva and Tel Aviv.
Prices of fancy-color diamonds slipped marginally in the fourth quarter of 2020 as stability in the yellow category helped the sector stave off a heavier slump, according to the Fancy Color Research Foundation (FCRF).
“Although 2020 was challenging in terms of logistics and travel, contrary to market expectations, fancy-color diamond prices proved to be resilient, with minor price decreases across the board,” the FCRF said Monday.
The organization’s Fancy Color Diamond Index for yellows inched down 0.3% year on year in the three months ending December 31, while prices for blues fell 1.3%. Pink fancy-color diamonds decreased 0.9%, with the overall index slipping 0.8%.
The 1.50- and 5-carat categories were the strongest for fancy blues, increasing 0.5% versus the previous quarter, while fancy-vivid blues decreased 0.6%, led by soft prices for 1-carat stones in that category. Pinks stayed mainly flat compared to the third quarter, with 2-carat fancy pinks seeing the highest rise, up 1.4%. In yellows, the fancy-intense, 5-carat segment grew 0.8%, and the price for fancy-vivid, 3-carat stones was up 0.7%. Fancy-yellow, 1.50-carat diamonds increased 0.6% during the period.
The FCRF believes prices of yellows will continue to remain strong throughout 2021.
“2020 was a fascinating year; wholesalers and retailers alike had to overcome many logistical hurdles in order to finalize simple transactions, while demand for fancy-color diamonds was solid,” said FCRF advisory board member Eden Rachminov. “I expect 2021 to be a bullish year for yellows; their current price is relatively low and I think that a price increase is inevitable.”
The index tracks prices of yellow, pink and blue fancy-color diamonds in Hong Kong, New York, Geneva and Tel Aviv.
Gibb River Diamonds has completed a review of the mothballed Ellendale diamond mine in Western Australia that will help it edge closer to a proposed restart.
The independent appraisal, which was completed by which was completed by Independent Diamond Valuers International (IDVI) valued gems from the Ellendale 9 East Lobe at $US750 ($1120) per carat.
This price represents a 20 per cent increase since 2008, largely due to the high number of fancy yellow diamonds unearthed at the West Kimberley-based mine.
With these results, a mine revival is looking ominous for the site, which was closed in 2015.
Last December, Gibb River Diamonds accepted an offer from the Western Australian Government apply for new tenements at the site.
“This review is important as it helps Gibb River Diamonds to make commercial decisions regarding mine planning and development priorities at Ellendale,” the company stated.
“Previous operators had a contract to sell the fancy yellow component of their production to Laurelton Diamonds (the jeweller Tiffany & Co).
“It is uncertain if similar premium prices can be achieved with any future fancy yellow goods.
“However, there is a potential opportunity to capitalise in the uniqueness of these fancy yellow goods to sell above market prices.”
The independent appraisal showed a further 18 per cent increase at the Ellendale 9 deposit to $US559 per carat since 2008.
The Ellendale 4 deposit also experienced an increase in value to $US135 per carat, representing a 5 per cent rise in 12 years.
IDVI uncovered 16 per cent fancy yellow diamonds within the Ellendale East Lobe, compared with 9 per cent in the West Lobe.
Gibb River has affirmed that as this information is based on generic sales data, future sales results could “vary significantly” from those in the report, as no sales have occurred since 2015.
Gibb River Diamonds has completed a review of the mothballed Ellendale diamond mine in Western Australia that will help it edge closer to a proposed restart.
The independent appraisal, which was completed by which was completed by Independent Diamond Valuers International (IDVI) valued gems from the Ellendale 9 East Lobe at $US750 ($1120) per carat.
This price represents a 20 per cent increase since 2008, largely due to the high number of fancy yellow diamonds unearthed at the West Kimberley-based mine.
With these results, a mine revival is looking ominous for the site, which was closed in 2015.
Last December, Gibb River Diamonds accepted an offer from the Western Australian Government apply for new tenements at the site.
“This review is important as it helps Gibb River Diamonds to make commercial decisions regarding mine planning and development priorities at Ellendale,” the company stated.
“Previous operators had a contract to sell the fancy yellow component of their production to Laurelton Diamonds (the jeweller Tiffany & Co).
“It is uncertain if similar premium prices can be achieved with any future fancy yellow goods.
“However, there is a potential opportunity to capitalise in the uniqueness of these fancy yellow goods to sell above market prices.”
The independent appraisal showed a further 18 per cent increase at the Ellendale 9 deposit to $US559 per carat since 2008.
The Ellendale 4 deposit also experienced an increase in value to $US135 per carat, representing a 5 per cent rise in 12 years.
IDVI uncovered 16 per cent fancy yellow diamonds within the Ellendale East Lobe, compared with 9 per cent in the West Lobe.
Gibb River has affirmed that as this information is based on generic sales data, future sales results could “vary significantly” from those in the report, as no sales have occurred since 2015.
Russia’s Alrosa, the world’s top diamond miner by output, has found a 17.4-carat bright yellow gem-quality precious rock at its new Verkhne-Munskoye deposit in Yakutia, which started operations in 2018.
The diamond, recovered in mid-February from the Zapolyarnaya kimberlite pipe, is the first large coloured stone found at the site, the company said.
Alrosa, which did not disclose the estimated value of the diamond, said it would be assessed and evaluated by its experts in coming days.
Diamond miners and traders have been hit hard in the past year by weak market conditions. These factors have taken a major toll on producers of small stones due to an oversupply in that segment.
De Beers reported Thursday its worst set of earnings since Anglo American (LON:AAL) acquired it in 2012.
The world’s No. 1 diamond miner by market cap said demand for rough diamonds from polishers and cutters was weak last year due to the impact of US-China trade tension and the closure of US retail outlets. Many companies in the so-called midstream are struggling to obtain financing, it said.
Alrosa believes the situation is about to change as it’s already seeing the first signs of stabilization in the sector.
Increasing demand for synthetic diamonds has also weighed on prices. Man-made diamonds require less investment than mining natural stones and can offer more attractive margins.
Industry consultant Bain & Co., however, believes that while glut that’s depressing the diamond market will probably be cleared early this year, it will take at least another 12 months for the market to fully recover.
“The industry’s first and strongest opportunity to rebalance and regain growth will be 2021,” said Bain in a report released in December, adding that supply could fall 8% that year.
Russia’s Alrosa, the world’s top diamond miner by output, has found a 17.4-carat bright yellow gem-quality precious rock at its new Verkhne-Munskoye deposit in Yakutia, which started operations in 2018.
The diamond, recovered in mid-February from the Zapolyarnaya kimberlite pipe, is the first large coloured stone found at the site, the company said.
Alrosa, which did not disclose the estimated value of the diamond, said it would be assessed and evaluated by its experts in coming days.
Diamond miners and traders have been hit hard in the past year by weak market conditions. These factors have taken a major toll on producers of small stones due to an oversupply in that segment.
De Beers reported Thursday its worst set of earnings since Anglo American (LON:AAL) acquired it in 2012.
The world’s No. 1 diamond miner by market cap said demand for rough diamonds from polishers and cutters was weak last year due to the impact of US-China trade tension and the closure of US retail outlets. Many companies in the so-called midstream are struggling to obtain financing, it said.
Alrosa believes the situation is about to change as it’s already seeing the first signs of stabilization in the sector.
Increasing demand for synthetic diamonds has also weighed on prices. Man-made diamonds require less investment than mining natural stones and can offer more attractive margins.
Industry consultant Bain & Co., however, believes that while glut that’s depressing the diamond market will probably be cleared early this year, it will take at least another 12 months for the market to fully recover.
“The industry’s first and strongest opportunity to rebalance and regain growth will be 2021,” said Bain in a report released in December, adding that supply could fall 8% that year.
Forevermark has launched a concept store in Shanghai tailored to millennial shopping habits, marking its 1,000th branch in China.
The opening of the store, named Libert’aime, also celebrates the brand’s 10th anniversary of entering the country. The De Beers-owned brand designed the branch’s diamond-jewelry line with a young, self-purchasing consumer in mind, it said Tuesday.
The store combines online and offline platforms, including a WeChat store. It also features digital experiences such as a 3D diamond wall, and a “magic mirror” that allows customers to share pieces with friends and family.
The store includes sections dedicated to different product types. The “diamond bar” will feature daily-wear diamond jewelry, while fancy-cut and multi-diamond pieces will be located in the “spectacular diamond” area.
“[Libert’aime] brings together an innovative in-store offering with online and social channels to provide customers with a highly engaging and personalized buying experience,” Forevermark CEO Stephen Lussier said. “We recognize that our consumer continues to evolve and, with Libert’aime by Forevermark, we are thrilled to be offering a diamond-jewelry range that has been designed with a younger, more fashion-forward consumer in mind, who might just be starting their diamond journey.”
The Shanghai store will also feature a new collection, LE LIGHT, designed by popular Chinese actor and musician Timmy Xu Weizhou.
In addition, De Beers Diamond Jewellers has opened a new store in the luxury SKP shopping mall in Xi’an, its sixth in mainland China. The new branch will feature three separate divisions: one for bridal jewelry, a second with collections such as the Talisman, Enchanted Lotus and Dewdrop lines, and a third showcasing high-jewelry pieces.
Forevermark has launched a concept store in Shanghai tailored to
millennial shopping habits, marking its 1,000th branch in China.
The opening of the store, named Libert’aime, also celebrates the
brand’s 10th anniversary of entering the country. The De Beers-owned
brand designed the branch’s diamond-jewelry line with a young,
self-purchasing consumer in mind, it said Tuesday.
The store combines online and offline platforms, including a WeChat
store. It also features digital experiences such as a 3D diamond wall,
and a “magic mirror” that allows customers to share pieces with friends
and family.
The store includes sections dedicated to different product types. The
“diamond bar” will feature daily-wear diamond jewelry, while fancy-cut
and multi-diamond pieces will be located in the “spectacular diamond”
area.
“[Libert’aime] brings together an innovative in-store offering with
online and social channels to provide customers with a highly engaging
and personalized buying experience,” Forevermark CEO Stephen Lussier
said. “We recognize that our consumer continues to evolve and, with
Libert’aime by Forevermark, we are thrilled to be offering a
diamond-jewelry range that has been designed with a younger, more
fashion-forward consumer in mind, who might just be starting their
diamond journey.”
The Shanghai store will also feature a new collection, LE LIGHT,
designed by popular Chinese actor and musician Timmy Xu Weizhou.
In addition, De Beers Diamond Jewellers has opened a new store in the
luxury SKP shopping mall in Xi’an, its sixth in mainland China. The new
branch will feature three separate divisions: one for bridal jewelry, a
second with collections such as the Talisman, Enchanted Lotus and
Dewdrop lines, and a third showcasing high-jewelry pieces.
Christie’s Magnificent Jewels auction was held on November 28th in Hong Kong.
The Stand out diamond was the incredibly rare 14.93 carat Fancy Vivid Pink Diamond with a VVS1 Clarity.
The Vivid Pink Diamond described by Christie’s as the “Picasso of the Pink Diamond world,” sold for an incredible $31,861,000 approximately $2.13 million per carat.
Only one in every Thousand diamonds mined is classified as Fancy Colour.
The Pink Promise Diamond is Fancy Vivid which is the highest possible colour grade for Fancy Colour Diamond.
Christie’s Magnificent Jewels auction was held on November 28th in Hong Kong.
The Stand out diamond was the incredibly rare 14.93 carat Fancy Vivid Pink Diamond with a VVS1 Clarity.
The Vivid Pink Diamond described by Christie’s as the “Picasso of the
Pink Diamond world,” sold for an incredible $31,861,000 approximately
$2.13 million per carat.
Only one in every Thousand diamonds mined is classified as Fancy Colour.
The Pink Promise Diamond is Fancy Vivid which is the highest possible colour grade for Fancy Colour Diamond.
