45 Carat yellow diamond could fetch $3.5m

A 45.07 carat fancy vivid yellow diamond is forecast to sell for $2.8m to $3.5m at Phillips New York on Wednesday (12 June).

It leads the New York Jewels Auction, featuring colored diamonds and gemstones, period jewelry, and signed jewels by Cartier, Bulgari, and Van Cleef & Arpels.

The square emerald-cut VS1-clarity stone has classic step-cut faceting, considered an unusual choice to best show off the color and draw out the illusion of greater saturation.

The Fancy Color Research Foundation (FCRF) gives the diamond a total visual score of 11 out of 12, based on inner grade (3), color dispersion (4) and undertone (4), noting that despite its depth percentage, excellent polish and symmetry grades, its visual presence translates to “a diamond appearing smaller in carat weight”.

The diamond will realize $77,657 per carat if it hits its high estimate. In March a 15.51-carat VS2 fancy vivid yellow diamond sold for $1.14m – $73,253 per carat – at Phillips Hong Kong Jewels Auction, beating its low estimate.

Source: DCLADCLA

Past producing yellow diamonds mine in Australia set to reopen

Australia’s Gibb River Diamonds is getting closer to restarting the mothballed Ellendale diamond mine in West Kimberley after being granted three mining leases that are key for the project.

The permits mark a significant step in reviving production at Ellendale, which was a major diamond producing mine. The operation was particularly know for being a source of fancy yellow diamonds, being responsible for more than 50% of the annual world’s supply until it was shut down in 2015.

As part as the reopening steps, Gibb River said it is scheduled to conduct a heritage clearance survey in the first week of June. The company is also studying financing options for the project, including debt, equity, earn-in partner, joint venture partner, a North Australian Infrastructure Fund (NAIF) partnership, or other government funding schemes available.

The exploration and development company became Ellendale’s sole owner in March last year, after acquiring the project from Burgundy Diamonds.

Shares in the company soared on the news, closing 48% higher at 37 Australian cents each. This leaves Gibb River Diamonds with a market capitalization of A$6.52 million ($4.4m).

Source: DCLA

Christie’s Holds 2 Sales Despite Cyberattack

Geneva Christie’s went ahead with two of its Geneva auctions, one for jewelry and one for watches, despite the fact that its website has been down since late last week following a cyberattack.

“The Yellow Rose” diamond, pictured above, was the top lot in its “Magnificent Jewels” sale in Geneva.

The 202 ct. Yellow Rose diamond sold for $6.7 million at Christie’s Magnificent Jewels sale in Geneva on Wednesday.

On Tuesday, a smaller but historically significant yellow diamond the 101.29 ct. fancy vivid Allnatt was pulled from Sotheby’s Magnificent Jewels auction at the last minute, despite carrying a $6.1 million to $7 million estimate.

Source: DCLA