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

Strong Demand Sends Ekati Rough Sales Surging

Revenue from the Ekati deposit’s rough production soared during the fourth quarter as demand for its goods strengthened, according to owner Burgundy Diamond Mines.

Sales from the Canadian mine rose 37% year on year to $166 million for the three months that ended December 31, Burgundy reported last week. Sales volume jumped 41% to 1.8 million carats, from 1.3 million carats a year before, outweighing a 2% drop in the average price to $93 per carat.

Output increased 19% to 1.2 million carats for the October-to-December period. During the quarter, Burgundy held four auctions, including one for special stones. The miner sold all of its available inventory during those auctions, it noted.

“Each of our four auctions during the December quarter were oversubscribed due to significant customer demand,” said Burgundy CEO Kim Truter. “This has put us in a strong position with a healthy cash balance to fund the upcoming winter-road resupply and to commence the important work activities to extend the mine life at Ekati.”

Burgundy is currently retrieving ore from two sites at Ekati: an open-pit operation at Sable and an underground one at Misery. It is also working on extending Sable underground and is optimizing the Point Lake area.

Burgundy purchased Ekati from Arctic Canadian Diamond Company for $136 million in March.

Source: DCLA

US Blocks $26m of India Diamond Payments to Russia

 

The US has reportedly blocked $26m of payments made by Indian businesses attempting to buy rough diamonds from Russia.

OFAC, the Office of Foreign Assets Control, is said to have instructed banks in recent months to halt the transfer of funds, mostly from UAE subsidiaries of Indian companies.

Neither India nor the UAE has sanctioned rough diamonds from Russia. The US has, although its ban does not apply to diamonds cut and polished outside Russia.

Leaders of the G7 nations concluded their summit in Hiroshima, Japan, in May without the clear mandate to fully sanction Russian diamonds that many had expected.

The US is believed to have halted the bank transfers over suspicions they were being made to sanctioned entities in Russia, but industry representatives in India insist otherwise.

The Gem & Jewellery Export Promotion Council (GJEPC) is lobbying the Indian Ministry of Commerce and the Indian embassy in the UAE to resolve matters.

Vipul Shah, chairman of the Gem and Jewellery Export Promotion Council (GJEPC), told Economic Times: “We are trying to explain to OFAC that the payments were made to non-sanctioned entities and even to some Russian entities well before the sanctions came into place. There is very little direct import of diamonds from Russia.”

The $26m of blocked purchases represent only a small proportion of the average $1.3bn of rough a month that India has been importing from all sources (GJEPC figures for April to June).

Source: DCLA

The gold, diamond, and ruby ring that Tupac Shakur wore days before his death sold at auction for over $1 million

Tupac Shakur’s custom crown-shaped ring, which he wore shortly before he died, sold for nearly $1.02 million Tuesday, becoming the most valuable hip-hop artifact ever sold at auction.

Sotheby’s in New York sold the ring as part of a large sale of hip-hop artifacts, including autographed letters from Shakur and a demo tape for his single “Trapped,” per a press release from the auction house. Prior to auction, the ring was estimated to sell between $200,000 to $300,000.

The lots, meant to commemorate the 50th anniversary of the musical genre, also included memorabilia from many other memorable names — Mos Def, De La Soul, and Wu-Tang Clan, to name a few.

The 14-Karat gold ring, encrusted with diamonds and rubies, features an inscription on the side that reads “Pac & Dada 1996” — a reference to his engagement to actress Kidada Jones.

According to the press release, Yaasmyn Fula, the artist’s godmother, offered the ring for auction, telling Sotheby’s it was custom designed by Pac and assembled by jewelers in New York City following his months behind bars and his newly signed deal with Death Row Records.

“Reflecting his recent affinity for Niccolo Machiavelli’s political manifesto ‘The Prince’ (Tupac would start going by “Makaveli” after reading The Prince while incarcerated), Tupac modeled his design after the crowns of the medieval kings of Europe in ‘an act of self-coronation,’ according to Fula, a celebration of survival through a tumultuous year in an oft tumultuous life,” per the press release.

The ring also appeared on his finger during the September 4, 1996, MTV Video Music Awards — his last public appearance before his tragic murder three days later in Las Vegas.

Source: DCLA

DCLA THE HOME OF DIAMOND KNOWLEDGE

 This advice 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 dcladiamondexchange.com.au or bluenile.com.

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.

Visit www.dcla.com.au for information advice or to make an appointment.

Petra’s Sales Slide Amid Large-Stone Scarcity

Petra Diamonds’ sales dropped 44% for the full fiscal year as the miner recovered a lower proportion of high-value stones and pushed off its final tender due to low demand.

Revenue fell to $328.4 million for the 12 months ending June 30, the company reported Tuesday. Sales volume decreased 34% to 2.3 million carats.

The company, which operates the Cullinan, Finsch and Koffiefontein mines in South Africa, as well as the Williamson mine in Tanzania, attributed the decline to a drop in the number of large and exceptional diamonds it sold during the year. The segment contributed only $12.6 million in revenue for the year, compared to $89.1 million in fiscal 2022.

Petra also postponed its sixth and final tender of the financial year as a result of lower rough prices and deferred the sale of 75,900 carats of predominantly higher-value stones from its fifth tender, it explained. A drop in production also hit sales, as the miner had lower availability of rough to offer.

In the fourth fiscal quarter, from April to June, Petra’s rough prices grew 2% on a like-for-like basis versus the same period a year ago, it said. Meanwhile, the miner’s inventories increased to 715,200 carats at the end of the quarter as a result of the deferrals, up from 381,700 on June 30, 2022.

“Our strong balance sheet and flexible sales process enabled us to postpone the majority of our…rough-diamond sales [for the sixth tender] into fiscal year 2024 on the back of what we believe to be a temporary slowdown in demand for rough diamonds,” said Petra CEO Richard Duffy. “We continue to expect a supportive diamond market in the medium to longer terms as a result of the structural supply deficit, which will benefit our strong growth profile.”

Production fell 20% to 2.7 million carats for the fiscal year due to the recovery of lower-grade ore at Cullinan and Finsch. That total was just under the miner’s previous guidance of between 2.75 million and 2.85 million carats for the year.

Petra now expects output for the new fiscal year ending June 2024 to be between 2.9 million and 3.2 million carats, down from the 3 million to 3.3 million carats it previously forecast. It has also lowered its guidance for fiscal 2025 to the 3.4 million and 3.7 million carat range, rather than the 3.6 million to 3.9 million carats it originally estimated. The decrease is the result of a slower-than-expected ramp-up at both Cullinan and Finsch following a delay in work to extend the mines, Petra added.

Source: DCLA

How do I know where my diamond was mined ?

 

It can be challenging to determine the exact location where a diamond was mined, but there are several ways to get an idea of its origin:

1. Diamond certificate: A diamond certificate or grading report from a reputable laboratory such as GIA, AGS,HRD, IGI or DCLA will provide information about the diamond's characteristics, including its colour, clarity, and carat weight. Some certificates may also include information about the diamond's origin or a statement that the diamond is of natural origin.

2. Inscription: Some diamonds may have a laser inscription on the girdle (the thin outer edge) of the diamond that identifies the diamond's report and sometimes brand origin or other information about the diamond. The inscription is a laser inscription or a micro-inscription that can only be viewed under magnification.

3. Jewellers and diamond dealers: An experienced jeweller or diamond dealer may be able to provide information about the diamond's origin based on their knowledge and experience in the industry.

4. Diamond tracing programs: Some diamond companies offer programs that trace the origin of their diamonds from the mine to the consumer. For example, the De Beers Group has a program called Tracr that provides a digital certificate of a diamond's journey from mine to retailer. It's important to note that not all diamonds can be traced to their exact origin, but the above methods can provide some information about a diamond's potential source. Diamonds can be found in various places around the world, but the most famous diamond sources are:

1. Botswana: Botswana is the world's leading producer of diamonds by value and is responsible for about 25% of the world's diamond supply.

2. Russia: Russia is the world's largest diamond producer by volume, accounting for about 27% of global diamond production. The majority of diamonds mined in Russia come from the Yakutia region in northeastern Russia.

3. Canada: Canada is the world's third-largest diamond producer, and its diamond mines are known for producing high-quality gemstones. The majority of Canada's diamond mines are located in the Northwest Territories.

4. Australia: Australia is known for producing some of the world's most valuable pink and red diamonds. The Argyle Diamond Mine in Western Australia was the world's largest source of pink diamonds until its closure in 2020.

5. South Africa: South Africa is one of the earliest sources of diamonds, and the country's Kimberley region is famous for its diamond mines. The Cullinan Diamond, the largest rough diamond ever found, was discovered in South Africa in 1905.

Source: Certin 

Adele ‘engaged to beau Rich Paul’ with dazzling diamond ring worth $1million

Adele has sparked speculation she is engaged to her beau Rich Paul after she was spotted wearing a huge diamond ring.

The singer, 34, and her sports agent partner, 41, have been dating for two years and are thought to be planning a summer wedding this year.

Rich reportedly popped the question with a dazzling ring, which has been estimated to be worth a massive $1million (£830,000).

Adele was seen wearing the sparkler on her wedding finger at her latest Las Vegas show over the weekend.

The stunning piece of jewellery features a pear-shaped diamond in the centre of a sparkling silver band.

A jewellery expert has estimated that the ring is approximately 10 carats and comes with a very hefty price tag.

“This one looks sparkly on all fronts, and makes us believe it would be very high quality indeed,” Apeksha Kothari diamond expert from Rare Carat said.

She told PageSix that the ring could be “close to the $1million mark.”

Another expert told the publication: “There’s no doubt that finding a fancy cut diamond of this size took lots of time and careful selection.”

Singing sensation Adele has been wearing the dazzling ring for over a year now, after she debuted it at the BRIT Awards in 2022.

Source: mirror.co.uk

How to Take Care Of Your Engagement Ring

Diamonds, Gemstones and precious metals can all be damaged. 

Caring for your engagement ring or Jewellery will maintain the quality and beauty. 

Rule of thumb is gently cleaning your ring and jewellery every so often with soapy water and light brushing. An Old tooth brush will help get into the hard to reach places. 

Visit your Jeweller at least once a year for a ring health check. This should include a check of the strength of the setting and the stability of the stone. 

 

When storing your ring, like during overseas travel,  ensure the jewellery is in a secure place. 

It is recommend insuring your ring for its full replacement value.  If you bought at a reduced price, it may not be possible to replace at the same value in the future. 

An engagement ring or heirloom may be a prized possession, with irreplaceable sentimental value. Be Certin it is protected correctly.

 

When visiting your Jeweller ask for the jewelry to be cleaned.

This is usually done while you wait in an ultra sound cleaner. 

Avoid using chemicals or bleach when cleaning your jewelry. Some could damage gems and the finish of the item.

Never use abrasives on precious metals. The finish and integrity could be compromised and require a Jeweller to repair or polish. 

All precious metals will lose the high polished shine over time. It is easy for your Jeweller to bring back the shine. Have your Jeweller check the item annually and advise on maintenance. 

It is realistic to re-polish Platinum and Gold Jewellery every couple of years to maintain its smooth surface and shine.

White metal may be rhodium plated, this will wear in time and needs to be redone every few years to restore its colour and luster. 

This process is inexpensive and will bring back the original look.

 

Store your jewellery safely.

If you’re not wearing your ring be sure you have a safe or a good lockup place for your ring or jewellery .

 

Remove your ring during hands-on activities.

Jewellery is easily damaged so avoid wearing the item while doing -heavy handed activities like moving furniture, gardening, lifting weights. 

Depending on the type of gem, You may also want to remove your ring when you swim in chemically treated water.

 

Don’t remove your ring in public.

While it may be tempting to remove your ring while washing your hands, Don’t, it could slide down the drain or you might forget it altogether.

 

Insuring Your Engagement Ring

Have your ring valued, and have the value checked if the currency rate changes.

Make sure you insure it for its full like for like replacement.

Source: Certin Diamond Insurance 

Botswana Diamonds licensed for South African kimberlite cluster

              Diamond mining Botswana

The kimberlite cluster is located around 110km north-east of a Finsch diamond mine.

Diamond mining company Botswana Diamonds has secured a five-year prospecting licence on ground containing the Reivilo cluster of kimberlites in Barkley West, South Africa.

The kimberlite cluster is located around 110km north-east of a Finsch diamond mine owned by Petra Diamonds.

According to an exploration by the previous licence holder, the area holds a delineated a cluster of three kimberlite pipes, all within a 250m radius.

The prospecting licence is effective until June 2027.

Botswana Diamonds chairman John Teeling said: “When the ground became recently available, we immediately applied for the area.

“Botswana Diamonds management have long been aware of the diamond potential of this ground, and so we are delighted to have finally been awarded this high-profile exploration ground and look forward to updating shareholders in the near future on developments.”

Botswana Diamonds plans to finalise its exploration programme after carrying out a review of all the available data on the Reivilo cluster.

The firm said in a statement: “Samples of the drilling core produced G10 and eclogitic garnets, which are the optimal indicators for diamondiferous kimberlites.”

In July this year, Botswana Diamonds purchased an additional stake in the prospective Maibwe joint venture (JV) in Botswana.

The company holds a 51.7% stake in Siseko Minerals, which increased its stake in the JV from 29% to 50%.

At the time, Botswana Diamonds said it was involved in three companies focused on diamond exploration in Botswana, as well as owned assets in South Africa.

Maibwe currently holds 11 prospecting licences in Botswana’s area of the Kalahari Desert, which include several kimberlite pipes.

In October 2019, Botswana Diamonds received a mining permit for gravels and unprocessed stockpiles around the Marsfontein mine in South Africa via its associate, Vutomi Mining.

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

 The World’s Most Expensive Apple Watch Case

Apple watch Golden Concept

Apple Watches can do everything. You can use one to track your blood pressure or unlock your car. You can use it to pay when you’re shopping or even to order a pizza. But as fans of traditional mechanical watches, we have to ask – where’s the elegance? Where’s the extravagance? You can’t flex with an Apple Watch the way you can with a Rolex Daytona and there’s no smartwatch that catches the eye like James Bond’s Omega Seamaster. Well, that was until the Swedish luxury tech accessory brand Golden Concept announced its outrageous new diamond-encrusted Apple Watch case – the most expensive in the world.

Golden Concept

You read that correctly, these are the first and only Apple Watch cases decorated with real diamonds, and if you have $15,000 spare you can grab one. But be quick as there are only 7 of these spectacular cases available, each housing 443 diamonds. Based in Stockholm, Golden Concept is a world leader when it comes to crafting exclusive and ultra-high-quality cases for Apple products, but this new release had even its biggest fans doing a double take.

So what’s all the fuss about? Quite simply, it’s the diamonds. For a start, each watch case has nearly five hundred of them and they take a week to set and hand finish. And these are exceptional E colour grade diamonds – this is the second-highest colour grade, meaning they have exceptional clarity and colourlessness. They are set into a case carved from a single block of solid titanium, a metal both stronger and lighter than the stainless steel more commonly used for watch cases.

Golden Concept

The result is a stunning design and the select buyers can have a case created for an Apple Watch 7 or opt to preorder one for the upcoming Series 8. In addition, each watch can be personalized with an engraving on the case back and, in a nice touch, the Golden Concept watches also come with a customised strap fashioned from high-performance fluoroelastomer. This is a famously durable material that is also resistant to changing temperatures making it ideal for sports use.

Yes, the price of the Diamond Edition case is insane, but we’re sure that buyers are going to love the opulence regardless. These Apple watches are neither sensible nor utilitarian. Instead, they’re over the top and excessive – ideal if you like your tech to be something to flaunt.

Golden Concept

Source: DCLA

Lucapa says 204 carat diamond recovered at Mothae mine in Lesotho

                    

Lucapa Diamond Company yesterday announced the recovery of a 204 carat diamond from the Mothae mine in Lesotho.

According to the company’s statement, the 204 carat white stone is the eighth +100 carat diamond and third +200 carat to be recovered from the Mothae mine since commercial mining commenced in January 2019, underlining its unique large stone nature.

Lucapa Diamond Company is an ASX listed diamond miner and explorer with assets in Africa and Australia. It has interests in two producing diamond mines in Angola (Lulo) and Lesotho (Mothae).

“The large, high-value diamonds produced from these two niche African diamond mines attract some of the highest prices per carat for rough diamonds globally,” the company said.

The Lulo mine has been in commercial production since 2015, while the Mothae mine commenced commercial production in 2019.

Source: DCLA

Christie’s to Sell the Red Cross Diamond

            205.7 ct Red Cross Diamond

One of the world’s largest yellow diamonds weighing 205.7 ct and known as the Red Cross Diamond is to be auctioned by Christie’s London.

The fancy intense yellow, cushion-shaped stone has a pavilion distinctively faceted in the shape of a Maltese cross.

The original rough gem was recovered by De Beers, in South Africa, in 1901 and was sold in 1918 in aid of the British Red Cross Society and the Order of St John.

It raised $13,000 equivalent to $780,000 in today’s money when it was sold at Christie’s London to the famous London firm S.J. Phillips.

It was sold again in November 1973, achieving CHF 1.8 million at Christie’s Geneva and returned to private ownership.

The diamond will again be offered for sale at Christie’s London on 11 May, with an undisclosed part of the sale revenue to be donated to the International Committee of the Red Cross.

We have asked Christie’s for the estimate, which is available “on request”.

Source: DCLA

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Diacore Buys 32ct. Pink Diamond

               32.32 carat Pink Rough Dimond

Manufacturer Diacore has purchased a rough pink diamond weighing 32.32 carats for $13.8 million.

The stone originated from Petra Diamonds’ Williamson mine in Tanzania, Diacore said last week. It was among the goods Petra offered at its first tender of Williamson rough since the resumption of operations at the site following a near two-year shutdown due to Covid-19. Diacore will analyze, design and cut the diamond.

“This rare masterpiece of nature is a natural fit to our unique offering as cutters and marketers of special diamonds,” said Diacore chairman Nir Livnat.

The pink is not the first colored diamond Diacore has purchased from the miner. In July, it partnered with De Beers to buy a blue diamond of 39.34 carats from Petra’s Cullinan mine in South Africa for $40.2 million. Last year, the two bought five rough blue diamonds from the same deposit ranging from 9.61 to 25.75 carats for a combined $40.4 million.

In June, Diacore acquired a 204.36-carat, yellow diamond known as the Dancing Sun — the largest polished diamond of North American origin — for $5 million at a Christie’s auction in New York.

Source: DCLA

Diacore Buys 32ct. Pink Diamond

               32.32 carat Pink Rough Dimond

Manufacturer Diacore has purchased a rough pink diamond weighing 32.32 carats for $13.8 million.

The stone originated from Petra Diamonds’ Williamson mine in Tanzania, Diacore said last week. It was among the goods Petra offered at its first tender of Williamson rough since the resumption of operations at the site following a near two-year shutdown due to Covid-19. Diacore will analyze, design and cut the diamond.

“This rare masterpiece of nature is a natural fit to our unique offering as cutters and marketers of special diamonds,” said Diacore chairman Nir Livnat.

The pink is not the first colored diamond Diacore has purchased from the miner. In July, it partnered with De Beers to buy a blue diamond of 39.34 carats from Petra’s Cullinan mine in South Africa for $40.2 million. Last year, the two bought five rough blue diamonds from the same deposit ranging from 9.61 to 25.75 carats for a combined $40.4 million.

In June, Diacore acquired a 204.36-carat, yellow diamond known as the Dancing Sun — the largest polished diamond of North American origin — for $5 million at a Christie’s auction in New York.

Source: DCLA

Colored Diamonds Set to Sparkle at Sotheby’s

                             

A blue diamond ring is among the top lots at the Sotheby’s Magnificent Jewels sale in New York next month.

The piece contains a cut-cornered rectangular modified brilliant-cut, 6.11-carat, fancy-intense-blue, VS2-clarity diamond surrounded by round diamonds. It is estimated to bring in up to $6.5 million at the December 7 auction, Sotheby’s said Monday.

A cut-cornered rectangular mixed-cut, 6.69-carat, fancy-intense-pink, VS2-clarity diamond ring with a high valuation of $6 million will also star in the sale, as will a cushion-cut, 3.01-carat, fancy-vivid-blue diamond. The stone, which is set in a ring and flanked by two heart-shaped diamonds, is expected to sell for up to $4.5 million.

Other notable items include a pear-shaped, 62.65-carat, D-color, VVS2-clarity diamond ring with a high price tag of $3.5 million, and an emerald-cut, 9.97-carat emerald and diamond ring with an upper valuation of $2.5 million.

An unmounted, heart-shaped, 15.01-carat, D-color, internally flawless diamond will also be up for grabs. The stone, which is being offered without reserve, has a high estimate of $2.5 million. Sotheby’s is collaborating with Brilliant & Black designer Lauren Harwell Godfrey to make a finished jewelry piece for the diamond, it noted. She has created two original designs that utilize her signature triangle inlay pattern — for a necklace and a ring.

Meanwhile, 30 jewels from an American private collector will also go under the hammer. The entire group is estimated at more than $6 million and includes one of the most significant collections of Bulgari pieces ever to come to market, Sotheby’s explained.

In total, the auction house will offer more than 200 lots, with the sale forecast to fetch as much as $70.1 million — the highest estimate for a New York Magnificent Jewels sale since December 2018, Sotheby’s added.

Source: DCLA

Colored Diamonds Set to Sparkle at Sotheby’s

                             

A blue diamond ring is among the top lots at the Sotheby’s Magnificent Jewels sale in New York next month.

The piece contains a cut-cornered rectangular modified brilliant-cut, 6.11-carat, fancy-intense-blue, VS2-clarity diamond surrounded by round diamonds. It is estimated to bring in up to $6.5 million at the December 7 auction, Sotheby’s said Monday.

A cut-cornered rectangular mixed-cut, 6.69-carat, fancy-intense-pink, VS2-clarity diamond ring with a high valuation of $6 million will also star in the sale, as will a cushion-cut, 3.01-carat, fancy-vivid-blue diamond. The stone, which is set in a ring and flanked by two heart-shaped diamonds, is expected to sell for up to $4.5 million.

Other notable items include a pear-shaped, 62.65-carat, D-color, VVS2-clarity diamond ring with a high price tag of $3.5 million, and an emerald-cut, 9.97-carat emerald and diamond ring with an upper valuation of $2.5 million.

An unmounted, heart-shaped, 15.01-carat, D-color, internally flawless diamond will also be up for grabs. The stone, which is being offered without reserve, has a high estimate of $2.5 million. Sotheby’s is collaborating with Brilliant & Black designer Lauren Harwell Godfrey to make a finished jewelry piece for the diamond, it noted. She has created two original designs that utilize her signature triangle inlay pattern — for a necklace and a ring.

Meanwhile, 30 jewels from an American private collector will also go under the hammer. The entire group is estimated at more than $6 million and includes one of the most significant collections of Bulgari pieces ever to come to market, Sotheby’s explained.

In total, the auction house will offer more than 200 lots, with the sale forecast to fetch as much as $70.1 million — the highest estimate for a New York Magnificent Jewels sale since December 2018, Sotheby’s added.

Source: DCLA

Christie’s Sells Pink Diamond for Record $29M

 

                     The Sakura diamond ring. 

The Sakura ring was the star at Christie’s Hong Kong, setting a world-record auction price for a purple-pink diamond.

The cushion-cut, 15.81-carat, fancy-vivid, internally flawless stone sold within its estimate for $29.3 million, or $1.9 million per carat, at the May 23 Magnificent Jewels auction, Christie’s said Sunday. The piece, purchased by a private Asian buyer, was also the most valuable jewel sold at auction so far this year. Overall, the Hong Kong sale raked in $76.8 million, the auction house’s highest total for a jewelry auction in four years.

“We are very excited to have marked another important chapter in jewelry-auction history today, with The Sakura realizing a record-breaking price,” said Vickie Sek, chairman of Christie’s Asia Pacific jewelry department. “The strong sell-through rates and exceptional prices achieved for top-quality colored diamonds and gemstones reflect a robust market demand.”

However, even with the record pricing, the pink diamond still fell short of its $38 million high estimate.

“I would not consider this to be at the lower end of the market price, but there was room for it to go [further] if the current economic stability and situation was better,” Harsh Maheshwari, executive director of colored-diamond dealer Kunming Diamonds, told Rapaport News. “Post-Covid-19, if a similar item were to be auctioned, it would possibly touch, or break, the higher end of the estimated price.”

Meanwhile, The Sweet Heart, a heart-shaped, 4.19-carat, fancy-vivid-pink diamond ring, brought in $6.6 million, or $1.6 million per carat, within its presale valuation.

Other notable items include a necklace with a 50.05-carat, D-flawless, type IIa briolette diamond pendant, which garnered $2.7 million. That price, which comes to $53,399 per carat, was just above its low estimate. A square emerald-cut, 31.17-carat, fancy-vivid-yellow, VS2-clarity diamond ring went for $2.2 million, smashing its high estimate, as did a Cartier necklace with diamonds and five Colombian emeralds weighing a total of 16.43 carats, which achieved $2.1 million.

Overall, Christie’s sold 82% of items on offer at the auction.

Source: DCLA