Qatari Royal Family in Court over Idol’s Eye Diamond

A legal battle over the Idol’s Eye, a 70.21 carat very light blue, eye shaped Golconda diamond, began on Monday (11 November) at the High Court, London.

Two branches of Qatar’s royal family are in dispute over the value of the gem – which could be anywhere between $10m and $27m.

The disagreement is between Qipco, a private investment company run by art collector Sheikh Hamad bin Abdullah al-Thani – a cousin of Qatar’s ruler Sheikh Tamim bin Hamad Al Thani – and Elanus Holdings, a company linked to the family of former culture minister Sheikh Saud bin Mohammed Al Thani.

Elanus loaned the diamond to Qipco in 2014 for 20 years, with an option to buy but the two sides disagree over the value of the stone. It is reported to be worth at least $10m, but according to a Reuter’s report, Elanus’s diamond expert has valued it at $27m.

Qipco says Elanus offered to sell the gem in February 2020, but then pulled out. Elanus disputes this.

Qipco is asking the High Court to force Elanus to go through with the sale.

The Idol’s Eye has a long and complex history. It was recovered in 1600 in the Kollur Mine, part of the Golconda Sultanate in southern India, was initially owned by Prince Rahab of Persia, and was auctioned by Christie’s London in 1865.

It has changed hands many times and has, at various stages, been owned by Harry Winston and Laurence Graff.

Source: DCLA

5 carat Blue Diamond with $10m US Estimate

A stunning platinum ring featuring a 5.02 carat blue diamond is set to headline Christie’s Hong Kong auction later this month, with an estimated value of up to US $10.3 million (HKD 80 million).

The centerpiece is an internally flawless, fancy deep blue marquise brilliant-cut diamond, graded by the Gemological Institute of America (GIA).

Dating back to 1923, the ring is listed in the auction catalog as “property of a lady,” though further details about the owner remain undisclosed.

This exquisite piece will lead the highly anticipated 124-lot Magnificent Jewels live sale on October 29, alongside a pair of diamond “Oriental Sunrise” earrings.

These earrings showcase two fancy vivid orange yellow diamonds (12.20 carats and 11.96 carats) and share the same US $10.3 million (HKD 80 million) high estimate.

Source: DCLA

Blue and Pink Diamond Ring Fetches $3.7m

A “Toi et Moi” ring featuring blue and pink diamonds – both over 5.0-cts – sold for $3.7m (£3m) almost double its high estimate, at Bonhams London.

The ring was crafted and signed by Mouawad, the Geneva-based jeweler to royalty and high society, which was founded in 1890. It carried a pre-sale estimate of $1.3m to $1.9m (£1m to £1.5m).

The radiant-cut fancy intense blue diamond, weighing 5.03 carats, is obliquely-set with a radiant-cut fancy purple-pink diamond, weighing 5.13 carats. The gallery and shoulders are pave-set with brilliant-cut diamonds of pink and blue tint.

The 113-lot sale, on 13 June, made a total of £6,590,562, with 78 per cent sold by lot and 99 per cent sold by value.

Source: DCLA

Petra’s Prices Boosted $8.2m Blue

Petra Diamonds sold fewer carats but achieved higher prices earlier this month at its fifth tender of FY 2024, boosted by the sale of an $8.2m blue diamond.

The UK-based miner achieved an average $136 per carat on sales of 362,000 carats for $49m.

Like-for-like figures for its fourth tender, in February, were $112 per carat on sales of 429,000 carats for $48m.

Sales for the year to date are, however, lagging behind FY 2023, at $285m, down 10 per cent down on $316m.

The 14.76ct exceptional color and clarity blue diamond recovered from Cullinan, South Africa, sold for $8.2m, although it was not classified as an “exceptional stone” (over $15m).

Total revenue for Q3 FY 2024 was $66m, down 27 per cent on the previous quarter, due to the lower production and the timing of receipts from the fifth tender.

“Production for the quarter is consistent with the preceding quarter and in-line with expectations.,” said CEO Richard Duffy.

Production guidance for FY 2024 is 2.75m to 2.85m carats.

Earlier this month Petra announced the sale of its loss-making Koffiefontein mine, in South Africa, to Dubai-based Stargems for a nominal sum.

Source: DCLA

Bulgari Laguna blue diamond could fetch $28m in auction

A rare 11.16 carats fancy vivid blue diamond could fetch between 22 to 25 million Swiss francs ($24 to $28 million) when it goes under Sotheby’s hammer next week in Geneva.

Named the Bulgari Laguna Blu, the pear-shape cut diamond boasts a rich blue hue that the auction house qualifies as “extraordinary” and “mesmerizing”.

It is the highest grade blue diamond ever graded by the Gemological Institute of America (GIA) and the third-largest pear-shaped fancy vivid blue diamond to ever go for sale on an auction, according to Olivier Wagner, head of jewellery at Sotheby’s Geneva.

The gem, first exhibited at the famous Met Gala fashion show in New York on Monday, is expected to attract the interest from global collectors.

Source: DCLA

Fancy colour diamond prices up 3.9% in 2022

 

     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.

Source: Mining.com

Fancy-Color Price Index Rebounds

                         Natural Pink and Blue diamonds

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.

Source: DCLA

Fancy-Color Price Index Rebounds

                         Natural Pink and Blue diamonds

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.

Source: DCLA

Fancy-Color Price Index Beats Expectations

 

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.

Source: DCLA

Fancy-Color Price Index Beats Expectations

 

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.

Source: DCLA

Forevermark Unveils New Concept Store in China

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.
 
Source: diamonds.net

Credit: Matt Crabb/De Beers

Forevermark Unveils New Concept Store in China

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.
 
Source: diamonds.net

Credit: Matt Crabb/De Beers

Blues Lead Fancy Colour Prices

Fancy blue diamonds out performed other major color categories in price terms during the first quarter, the Fancy Color Research Foundation said.

Prices for fancy blues jumped 5% year on year for the three months ending March 31, according to the FCRF, which released its quarterly Fancy Color Diamond Index on Monday.

By contrast, prices of fancy pink diamonds declined 1.7%, while the index for yellows slipped 0.6%, the organization said. The overall index for fancy color diamonds edged up 0.1%.

Vivid blues and vivid pinks weighing 2 carats showed the best performance in their respective color categories during the quarter.

The Fancy Color Diamond Index tracks prices of fancy yellow, pink and blue diamonds in Hong Kong, New York and Tel Aviv.

Source: DCLA

Blues Lead Fancy Colour Prices

Fancy blue diamonds out performed other major color categories in price terms during the first quarter, the Fancy Color Research Foundation said.

Prices for fancy blues jumped 5% year on year for the three months ending March 31, according to the FCRF, which released its quarterly Fancy Color Diamond Index on Monday.

By contrast, prices of fancy pink diamonds declined 1.7%, while the index for yellows slipped 0.6%, the organization said. The overall index for fancy color diamonds edged up 0.1%.

Vivid blues and vivid pinks weighing 2 carats showed the best performance in their respective color categories during the quarter.

The Fancy Color Diamond Index tracks prices of fancy yellow, pink and blue diamonds in Hong Kong, New York and Tel Aviv.

Source: DCLA

$5.3 USD Million Record Price for a Fancy Intense Blue

A 3.09 carat emerald cut fancy intense blue diamond has sold for more than $5.3 million.

Setting a new record price per carat for an intense blue diamond.

The Polished Blue Diamond was set in a platinum ring flanked by tapered baguette cut diamonds.

The Fancy Intense Blue Diamond sold well above its high total estimate of $3 million.

Source: DCLA

$5.3 USD Million Record Price for a Fancy Intense Blue

A 3.09 carat emerald cut fancy intense blue diamond has sold for more than $5.3 million.

Setting a new record price per carat for an intense blue diamond.

The Polished Blue Diamond was set in a platinum ring flanked by tapered baguette cut diamonds.

The Fancy Intense Blue Diamond sold well above its high total estimate of $3 million.

Source: DCLA