11 Carat Purple Diamond Expected to Fetch Over $10M

Hong Kong based M&B Diamonds expects to sell a record setting purple diamond for more than $10 million, after buying the stone from Alrosa.

The cushion modified brilliant cut, 11.06 carat diamond is the largest fancy deep purple pink stone the Gemological Institute of America (GIA) has examined, according to the August 2018 grading report.

Alrosa originally debuted the gem as part of its “True Colour” collection in September at the Hong Kong Jewellery & Gem Fair. M&B bought it at tender in Moscow about two months ago, Roi Sheinfeld, owner of M&B Diamonds, told Rapaport News Wednesday.

M&B will preview the stone to customers by appointment only at its M&B Private Jewelers retail shops in Hong Kong and Singapore. While Sheinfeld chose not to reveal the stone’s purchase price, he expects the sale to yield more than $10 million, depending on the design.

“As it’s one of a kind…we will exhibit it as [a] polished loose diamond,” Sheinfeld added. “The client who buys it will have the privilege of sitting with our design team and creating a one of a kind bespoke piece.”

Source: DCLA

11 Carat Purple Diamond Expected to Fetch Over $10M

Hong Kong based M&B Diamonds expects to sell a record setting purple diamond for more than $10 million, after buying the stone from Alrosa.

The cushion modified brilliant cut, 11.06 carat diamond is the largest fancy deep purple pink stone the Gemological Institute of America (GIA) has examined, according to the August 2018 grading report.

Alrosa originally debuted the gem as part of its “True Colour” collection in September at the Hong Kong Jewellery & Gem Fair. M&B bought it at tender in Moscow about two months ago, Roi Sheinfeld, owner of M&B Diamonds, told Rapaport News Wednesday.

M&B will preview the stone to customers by appointment only at its M&B Private Jewelers retail shops in Hong Kong and Singapore. While Sheinfeld chose not to reveal the stone’s purchase price, he expects the sale to yield more than $10 million, depending on the design.

“As it’s one of a kind…we will exhibit it as [a] polished loose diamond,” Sheinfeld added. “The client who buys it will have the privilege of sitting with our design team and creating a one of a kind bespoke piece.”

Source: DCLA

Miner Petra Diamonds sells its 425 carat legacy diamond

Petra Diamonds said on Tuesday it sold its 425-carat ‘Legacy of the Cullinan Diamond Mine’ diamond to Belgium-based Stargems Group for $15 million.

The miner, which recovered the diamond at its flagship Cullinan mine in March, said the sale was significant for the company.

Petra has been struggling to clear its multi-million-dollar debts after it borrowed heavily to revamp the Cullinan facility and began mining a new section of ore last July.

However, Cullinan has been profitable every year since Petra acquired it in 2008 and the mine is expected to generate free cash flow this year.

Source: DCLA

Miner Petra Diamonds sells its 425 carat legacy diamond

Petra Diamonds said on Tuesday it sold its 425-carat ‘Legacy of the Cullinan Diamond Mine’ diamond to Belgium-based Stargems Group for $15 million.

The miner, which recovered the diamond at its flagship Cullinan mine in March, said the sale was significant for the company.

Petra has been struggling to clear its multi-million-dollar debts after it borrowed heavily to revamp the Cullinan facility and began mining a new section of ore last July.

However, Cullinan has been profitable every year since Petra acquired it in 2008 and the mine is expected to generate free cash flow this year.

Source: DCLA

Cartier Sues Alleged Counterfeiter

Cartier and Van Cleef & Arpels have filed a lawsuit against a Florida jeweler, claiming willful infringement on a number of the luxury jewelers’ famous trademarked collections.

Scott King Inc., registered for business as Florida Diamond Brokers and King Jewelers, allegedly sold imitations of jewelry belonging to the Richemont-owned divisions, the May 6 suit, filed in the US District Court of Florida, claims.

In November 2018, an agent of Cartier and Van Cleef visited King Jewelers, and noticed the store was selling counterfeit copies of the jewelers’ pieces. Those imitations included Van Cleef’s Alhambra and Perlée collections, as well as Cartier’s Love and Juste un Clou collections, engraved with the brands’ trademarked name, the suit claims. The prices for the items ranged from $900 to $1,125 for earrings, and more than $6,000 for bracelets, a similar range to Cartier and Van Cleef’s own prices.

The agent returned to the store the following month, and again in February, according to the lawsuit. During the first visit, employees of King Jewelers allegedly informed the agent that the jewelry was not authentic Van Cleef and Cartier pieces, but rather “inspiration” jewels made to look like them. An employee also said the products were not listed in the store’s catalogues because they “don’t want to get in trouble.”

Cartier and Van Cleef are asking the court to order King Jewelers to turn over all its counterfeit jewelry to them for destruction, and to recall any pieces it has distributed to retailers and other customers. They are also suing for the total amount of profits King Jewelers has made from all sales of the copied pieces, plus up to $2 million per counterfeited collection and per each jewelry category (bracelets, rings, etc.) within those collections.

Source: DCLA

Cartier Sues Alleged Counterfeiter

Cartier and Van Cleef & Arpels have filed a lawsuit against a Florida jeweler, claiming willful infringement on a number of the luxury jewelers’ famous trademarked collections.

Scott King Inc., registered for business as Florida Diamond Brokers and King Jewelers, allegedly sold imitations of jewelry belonging to the Richemont-owned divisions, the May 6 suit, filed in the US District Court of Florida, claims.

In November 2018, an agent of Cartier and Van Cleef visited King Jewelers, and noticed the store was selling counterfeit copies of the jewelers’ pieces. Those imitations included Van Cleef’s Alhambra and Perlée collections, as well as Cartier’s Love and Juste un Clou collections, engraved with the brands’ trademarked name, the suit claims. The prices for the items ranged from $900 to $1,125 for earrings, and more than $6,000 for bracelets, a similar range to Cartier and Van Cleef’s own prices.

The agent returned to the store the following month, and again in February, according to the lawsuit. During the first visit, employees of King Jewelers allegedly informed the agent that the jewelry was not authentic Van Cleef and Cartier pieces, but rather “inspiration” jewels made to look like them. An employee also said the products were not listed in the store’s catalogues because they “don’t want to get in trouble.”

Cartier and Van Cleef are asking the court to order King Jewelers to turn over all its counterfeit jewelry to them for destruction, and to recall any pieces it has distributed to retailers and other customers. They are also suing for the total amount of profits King Jewelers has made from all sales of the copied pieces, plus up to $2 million per counterfeited collection and per each jewelry category (bracelets, rings, etc.) within those collections.

Source: DCLA

Bubble Gum Pink Diamond Will Lead the Christie’s Sale

A 3.44 ct. fancy vivid purplish-pink diamond (pictured)—which has been dubbed the Bubble Gum Pink—will lead the Christie’s May 28 Hong Kong Magnificent Jewels auction.

The ring, by jewelry design house Moussaieff, carries a $6 million–$8 million estimate.

And for those who prefer diamonds in darker colors, also on offer is a 3.01 ct. fancy vivid blue VS1 diamond, which carries a $4.7 million–$7 million estimate.

fancy vivid blue

fancy-vivid-blue

The ring features a step-cut 3.01 ct. fancy vivid blue diamond flanked by heart-shape brilliant-cut fancy intense purple-pink diamonds.
The auction will also be highlighted by a pair of emerald earrings, the Grand Muzos. Weighing 23.34 and 23.18 cts., the Grand Muzos come from the area of Colombia celebrated for producing the world’s finest emeralds. They carry a $3.8 million–$6.5 million estimate.

The earrings are both oil- and resin-free, so their color and clarity is completely natural, the auction house said. Their clarity is high, it added.

Grand Muzos

Grand-Muzo

The Grand Muzos are a rare pair of oil-free Colombian emeralds.
Also being offered at the Hong Kong sale: a jadeite bead necklace (which carries a $2 million–3 million estimate)l a jadeite cabochon ring (estimate: $580,000–$800,000) and a Bulgari diamond necklace highlighted by an 11.69 ct. flawless/internally flawless diamond and 1.02 ct. fancy vivid green-blue diamond (estimate: $1.6 million–$2.3 million).

“It is our privilege this season to be offering a cross section of the finest diamonds, jewels, and signed pieces to our esteemed collectors,” said Vickie Sek, chairman of Christie’s Jewellery Asia, in a statement. “Striking centerpieces of Christie’s spring sales include both fancy vivid blue and pink diamonds, as well as one of the finest emeralds ever to come to auction. This collection of some of the most prized gems is bound to draw strong interest from collectors around the world as they [look] for pieces of dazzling splendor and unmatched rarity.”

Sek was named chairman of the Christie’s Asia jewelry department last year.

Source: DCLA