IDEX Price Report for 1 May: Prices Show Signs of Stabilizing

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

Highlighted changes

Rounds

1.00-1.24 ct. D-F / VVS2-VS1 +4-5%, F-I / IF-VVS1 -1-7%

2.00-2.99 ct. D-G / VVS2-VS2 +2.5-5%, G-N / IF-VVS1 -2-5%

4.00-4.99 ct. E-I / VS1-2 +1-4%, K-M / VS2-SI1 -1-2%

Fancy Cuts

1.25-1.49 ct. D-I / VVS1-SI1 -1-6.5%

1.50-1.99 ct. D-E / VVS1-VS2 +1-5%, I-J / IF-VS2 -4.5-5.5%

2.00-2.99 ct. D-H / VVS2-VS2 +2.5-3%, H-N / IF-VVS1 -2-5%

Source: DCLA

Rare Orange-Red Diamond Appears at Auction

 Rare Orange-Red Diamond Appears at Auction

                    1.21-carat, fancy-orangey-red

Heritage Auctions has unveiled a 1.21-carat, fancy-orangey-red diamond that will go under the hammer at its Fall Fine Jewelry Signature auction on September 29.

“This gem is one of only a few diamonds to display enough saturation and intensity to be graded as a true red,” said Jill Burgum, Heritage Auctions’ executive director of fine jewelry. “Adding to the allure, the cause of a red diamond’s color remains a mystery to scientists, making this stone even more of a marvel.”

The stone has a presale estimate of $100,000 to $150,000.

Other notable diamonds included in the sale are a 17.63-carat, fancy-intense-yellow diamond ring from the estate of Dallas philanthropist Mary Anne Sammons Cree, which is expected to fetch $300,000 to $400,000. More than 125 jewels from Cree’s collection are up for sale, with the proceeds going to the Communities Foundation of Texas as well as Dallas-area nonprofits.

Source: DCLA

Christie’s Gets Colorful with New York Auction

 

Three rings featuring diamonds with fancy-vivid color will head up the Christie’s Magnificent Jewels auction in New York next month.

The trio of jewels, called the Perfect Palette, comprises a 2.13-carat, fancy-vivid-blue diamond ring, estimated at $2 million to $3 million, Christie’s said Tuesday. Also included are a 2.34-carat, fancy-vivid-orange diamond ring and a 2.17-carat, fancy-vivid-purplish-pink diamond ring, both with a high valuation of $2.5 million. Each will be offered as a separate lot at the April 13 sale, the auction house added.

Other notable items are two oval modified brilliant-cut diamonds. The first — a 25.55-carat, fancy-vivid-yellow, VS1-clarity diamond ring — has a high estimate of $1.2 million, while the 6.56-carat, fancy-intense-orangey-pink, VVS1-clarity diamond ring carries an upper valuation of $1 million.

An oval mixed-cut, 3.02-carat, fancy-vivid-purplish-pink, SI2-clarity diamond ring, set with round pink diamonds on the band, is estimated at up to $1.5 million. Christie’s will offer that piece without reserve.

Meanwhile, a pear brilliant-cut, 38.04-carat, D-flawless, type IIa diamond ring with a high estimate of $3.5 million will feature as a top lot. An emerald-cut, 14.50-carat, D-color, internally flawless, type IIa diamond valued at up to $1 million is also up for sale, as are signed pieces by designers Suzanne Belperron, Bulgari, Cartier, David Webb, Harry Winston, Van Cleef & Arpels, and Verdura.

Christie’s will hold a concurrent Online Jewels auction from April 8 to 20, featuring a selection of items from Bulgari, Cartier and Elsa Peretti for Tiffany & Co., among others. The auction house has not decided whether it will hold an in-person sale or conduct live bidding over the phone and online, a spokesperson told Rapaport News.

Source: DCLA

Christie’s Gets Colorful with New York Auction

 

Three rings featuring diamonds with fancy-vivid color will head up the Christie’s Magnificent Jewels auction in New York next month.

The trio of jewels, called the Perfect Palette, comprises a 2.13-carat, fancy-vivid-blue diamond ring, estimated at $2 million to $3 million, Christie’s said Tuesday. Also included are a 2.34-carat, fancy-vivid-orange diamond ring and a 2.17-carat, fancy-vivid-purplish-pink diamond ring, both with a high valuation of $2.5 million. Each will be offered as a separate lot at the April 13 sale, the auction house added.

Other notable items are two oval modified brilliant-cut diamonds. The first — a 25.55-carat, fancy-vivid-yellow, VS1-clarity diamond ring — has a high estimate of $1.2 million, while the 6.56-carat, fancy-intense-orangey-pink, VVS1-clarity diamond ring carries an upper valuation of $1 million.

An oval mixed-cut, 3.02-carat, fancy-vivid-purplish-pink, SI2-clarity diamond ring, set with round pink diamonds on the band, is estimated at up to $1.5 million. Christie’s will offer that piece without reserve.

Meanwhile, a pear brilliant-cut, 38.04-carat, D-flawless, type IIa diamond ring with a high estimate of $3.5 million will feature as a top lot. An emerald-cut, 14.50-carat, D-color, internally flawless, type IIa diamond valued at up to $1 million is also up for sale, as are signed pieces by designers Suzanne Belperron, Bulgari, Cartier, David Webb, Harry Winston, Van Cleef & Arpels, and Verdura.

Christie’s will hold a concurrent Online Jewels auction from April 8 to 20, featuring a selection of items from Bulgari, Cartier and Elsa Peretti for Tiffany & Co., among others. The auction house has not decided whether it will hold an in-person sale or conduct live bidding over the phone and online, a spokesperson told Rapaport News.

Source: DCLA

Alrosa finds first large coloured diamond at new Yakutia mine

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.

Source: DCLA

Alrosa finds first large coloured diamond at new Yakutia mine

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.

Source: DCLA

Most Expensive Coloured Diamonds

Blue

The 9.75 carat Zoe Diamond which sold for more than $32 million.

Zoe Diamond

Green

5.03 carats Aurora Green sold for $16.8 million

Aurora Green

Orange

14.82 carat pear shaped Orange diamond sold for more than $35 million.

The Orange

Red

The 1.56 carat Fancy Red Phoenix diamond sold for $2 million

Phoenix diamond

Pink

59.60 carat Pink Star $71.2 million

Pink Star

Yellow

Vivid Yellow 100.09 carat sold for $16.3 million.

Graff Vivid Yellow

Source: DCLA

Most Expensive Coloured Diamonds

Blue

The 9.75 carat Zoe Diamond which sold for more than $32 million.

Zoe Diamond

Green

5.03 carats Aurora Green sold for $16.8 million

Aurora Green

Orange

14.82 carat pear shaped Orange diamond sold for more than $35 million.

The Orange

Red

The 1.56 carat Fancy Red Phoenix diamond sold for $2 million

Phoenix diamond

Pink

59.60 carat Pink Star $71.2 million

Pink Star

Yellow

Vivid Yellow 100.09 carat sold for $16.3 million.

Graff Vivid Yellow

Source: DCLA

Lucara finds blue and pink diamonds at Botswana mine

Canada’s Lucara Diamond continues to find gem quality, coloured diamonds at its Karowe mine, in Botswana, which in April yielded the 1,758 carat Sewelô meaning “rare find” diamond, the largest ever recovered in the African country.

The Vancouver based miner has now recovered a 9.74 carat blue and a 4.13 carat pink diamond from direct milling of the South Lobe, the area that yielded the famous 1,111 carat “Lesedi La Rona” in 2015.

The announcement comes on the heels of last week’s display of a 123 carat gem quality, top white, Type II diamond, found at the same section of the mine.

It also follows the recent sale of a 2.24 carat blue for $347,222 per carat.

Karowe, which began commercial operations in 2012, has this year yielded 22 diamonds larger than 100 carats, eight of them exceeding 200 carats.

Since the start of the year, the miner has sold 19 diamonds each with an individual price in excess of $1 million at its quarterly tender sales. This includes seven diamonds that fetched more than $2 million each, and one diamond that carried a final price tag of over $8 million.

“Lucara is extremely pleased with the recovery of these rare, sizeable, fancy coloured diamonds, which have the potential to contribute meaningful value to our regular production of large, high-value type IIa diamonds,” chief executive, Eira Thomas, said in the statement.

The precious rocks will be put up for sale in December, during the company’s fourth quarter tender.

Lucara, which has focused efforts on the prolific Botswana mine this year, is close to completing a feasibility study into potential underground production and life of mine expansion at Karowe.

Source: DCLA

Lucara finds blue and pink diamonds at Botswana mine

Canada’s Lucara Diamond continues to find gem quality, coloured diamonds at its Karowe mine, in Botswana, which in April yielded the 1,758 carat Sewelô meaning “rare find” diamond, the largest ever recovered in the African country.

The Vancouver based miner has now recovered a 9.74 carat blue and a 4.13 carat pink diamond from direct milling of the South Lobe, the area that yielded the famous 1,111 carat “Lesedi La Rona” in 2015.

The announcement comes on the heels of last week’s display of a 123 carat gem quality, top white, Type II diamond, found at the same section of the mine.

It also follows the recent sale of a 2.24 carat blue for $347,222 per carat.

Karowe, which began commercial operations in 2012, has this year yielded 22 diamonds larger than 100 carats, eight of them exceeding 200 carats.

Since the start of the year, the miner has sold 19 diamonds each with an individual price in excess of $1 million at its quarterly tender sales. This includes seven diamonds that fetched more than $2 million each, and one diamond that carried a final price tag of over $8 million.

“Lucara is extremely pleased with the recovery of these rare, sizeable, fancy coloured diamonds, which have the potential to contribute meaningful value to our regular production of large, high-value type IIa diamonds,” chief executive, Eira Thomas, said in the statement.

The precious rocks will be put up for sale in December, during the company’s fourth quarter tender.

Lucara, which has focused efforts on the prolific Botswana mine this year, is close to completing a feasibility study into potential underground production and life of mine expansion at Karowe.

Source: DCLA