118ct. Yellow Smashes Estimate at Christie’s

A diamond bought in memory of late diamantaire Sam Abram sold for more than double its high estimate at Christie’s Geneva auction Wednesday.

The cushion brilliant-cut, 118.05-carat, fancy-yellow, VS2-clarity stone fetched $7.1 million, or $60,000 per carat, at the Magnificent Jewels auction. The diamond, which was estimated at $2.5 million to $3.5 million, was purchased by Siba Corp. in honor of its former president. The company subsequently named it The Siba Diamond.

Three ruby pieces broke the top 10, all selling for well above their estimates. A 22.86-carat Burmese ruby ring by Harry Winston went for $7.2 million against its high estimate of $3 million, a final price of $314,900 per carat. Meanwhile, a Van Cleef & Arpels ruby and diamond necklace, which was valued at $400,000 to $600,000, garnered $2.4 million, and a ruby and diamond bracelet by the same jeweler fetched $1.6 million. That piece was estimated at $150,000 to $250,000.

A necklace comprising 110 natural pearls achieved $5.8 million, well above its high estimate of $3.5 million. All other pearl pieces of note offered at the sale also exceeded their original estimates, Christie’s said.

Other notable lots included a pear-shaped, 75.61-carat emerald pendant necklace that belonged to the Grand Duchess Vladimir of Russia, which sold for $4.3 million, or $57,300 per carat. It was estimated at $2.3 million to $3.5 million.

“Natural pearls and jewels with noble provenance, such as the 75.61-carat emerald from Grand Duchess Vladimir of Russia, found much acclaim and sold for far above their presale estimates,” said Rahul Kadakia, Christie’s international head of jewelry. “Also of note was the 118-carat, fancy-yellow diamond that was purchased by Siba Corp. in honor of Sam Abram, a prominent figure in the jewelry world, who very sadly passed away last week.”

In addition, the rectangular-cut, 25.27-carat, D-color Jonker V diamond connected to Anglo American founder and former De Beers chairman Sir Ernest Oppenheimer fetched $3 million against a valuation of $2.5 million to $3.5 million.

Christie’s sold 87% of all lots on offer, it said. The sale brought in a combined $62.1 million.

Source: DCLA

118ct. Yellow Smashes Estimate at Christie’s

A diamond bought in memory of late diamantaire Sam Abram sold for more than double its high estimate at Christie’s Geneva auction Wednesday.

The cushion brilliant-cut, 118.05-carat, fancy-yellow, VS2-clarity stone fetched $7.1 million, or $60,000 per carat, at the Magnificent Jewels auction. The diamond, which was estimated at $2.5 million to $3.5 million, was purchased by Siba Corp. in honor of its former president. The company subsequently named it The Siba Diamond.

Three ruby pieces broke the top 10, all selling for well above their estimates. A 22.86-carat Burmese ruby ring by Harry Winston went for $7.2 million against its high estimate of $3 million, a final price of $314,900 per carat. Meanwhile, a Van Cleef & Arpels ruby and diamond necklace, which was valued at $400,000 to $600,000, garnered $2.4 million, and a ruby and diamond bracelet by the same jeweler fetched $1.6 million. That piece was estimated at $150,000 to $250,000.

A necklace comprising 110 natural pearls achieved $5.8 million, well above its high estimate of $3.5 million. All other pearl pieces of note offered at the sale also exceeded their original estimates, Christie’s said.

Other notable lots included a pear-shaped, 75.61-carat emerald pendant necklace that belonged to the Grand Duchess Vladimir of Russia, which sold for $4.3 million, or $57,300 per carat. It was estimated at $2.3 million to $3.5 million.

“Natural pearls and jewels with noble provenance, such as the 75.61-carat emerald from Grand Duchess Vladimir of Russia, found much acclaim and sold for far above their presale estimates,” said Rahul Kadakia, Christie’s international head of jewelry. “Also of note was the 118-carat, fancy-yellow diamond that was purchased by Siba Corp. in honor of Sam Abram, a prominent figure in the jewelry world, who very sadly passed away last week.”

In addition, the rectangular-cut, 25.27-carat, D-color Jonker V diamond connected to Anglo American founder and former De Beers chairman Sir Ernest Oppenheimer fetched $3 million against a valuation of $2.5 million to $3.5 million.

Christie’s sold 87% of all lots on offer, it said. The sale brought in a combined $62.1 million.

Source: DCLA

Debmarine Namibia invests in custom diamond vessel

The vessel, which has an expected total capital cost of US$468 million, will be the seventh in Debmarine’s fleet. It is expected to start production in 2022 with the capacity to add 500,000 carats of annual production, a 35% increase above current levels.

De Beers CEO Bruce Cleaver said some of the highest quality diamonds in the world were found at sea off the Namibian coast.

“With this investment we will be able to optimise new technology to find and recover diamonds more efficiently and meet growing consumer demand across the globe,” he said.

Anglo American CEO Mark Cutifani said the addition of the vessel would bring numerous benefits, including improving De Beers’ production profile by value and volume, greater efficient and productivity through the vessel’s deployed technologies, and sustained economic benefits for Namibia.

“This highly attractive investment offers a three-year payback, a more than 25% IRR and an EBITDA margin of more than 60% – typical of the high quality of our brownfield growth options,” Cutifani said.

“We will continue allocating appropriate levels of capital in a disciplined manner across Anglo American’s wider organic pipeline of near- and medium-term growth opportunities, including the world-class Quellaveco copper development in Peru, that we expect to contribute towards our 20-25% production growth by 2023.”

Debmarine last ordered a new vessel in November 2017. At the time it was projected to cost US$142 million and was expected to start operations in 2021.

Source: DCLA

Debmarine Namibia invests in custom diamond vessel

The vessel, which has an expected total capital cost of US$468 million, will be the seventh in Debmarine’s fleet. It is expected to start production in 2022 with the capacity to add 500,000 carats of annual production, a 35% increase above current levels.

De Beers CEO Bruce Cleaver said some of the highest quality diamonds in the world were found at sea off the Namibian coast.

“With this investment we will be able to optimise new technology to find and recover diamonds more efficiently and meet growing consumer demand across the globe,” he said.

Anglo American CEO Mark Cutifani said the addition of the vessel would bring numerous benefits, including improving De Beers’ production profile by value and volume, greater efficient and productivity through the vessel’s deployed technologies, and sustained economic benefits for Namibia.

“This highly attractive investment offers a three-year payback, a more than 25% IRR and an EBITDA margin of more than 60% – typical of the high quality of our brownfield growth options,” Cutifani said.

“We will continue allocating appropriate levels of capital in a disciplined manner across Anglo American’s wider organic pipeline of near- and medium-term growth opportunities, including the world-class Quellaveco copper development in Peru, that we expect to contribute towards our 20-25% production growth by 2023.”

Debmarine last ordered a new vessel in November 2017. At the time it was projected to cost US$142 million and was expected to start operations in 2021.

Source: DCLA

130 carat gem quality diamond recovered at Lulo

The 130 carat diamond is the 13th +100 carat diamond recovered to date and the second recovered so far in 2019.

This recovery, together with the continued recovery of other large special white and fancy coloured diamonds continues to highlight the very special nature of the Lulo diamond concession.

The 130 carat diamond adds to the current inventory of high-value large Special run-of-mine diamonds, including top colour white diamonds, weighing 128 carats and 62 carats, as well as a number of fancy pink coloured diamonds.

The majority of the diamond inventory is scheduled for sale this quarter by the alluvial mining company, Sociedade Mineira Do Lulo, however, some diamonds may be extracted and held for tender at a later date.

Lucapa is a growing diamond company with high-value mines in Angola and Lesotho, along with exploration projects in Angola, Australia and Botswana.

Lucapa’s vision is to become a leading producer of large and premium-quality diamonds – from both alluvial and kimberlite sources – in Africa and other known diamond provinces around the world.

The company’s focus on high-value diamond production is designed to protect cash flows in a sector of the diamond market where demand and prices remain robust.

Lucapa’s flagship asset is the Lulo diamond project in Angola, which is a prolific producer of large and premium-value alluvial diamonds.

Lulo has produced 13 +100ct diamonds to date and is the highest average US$ per carat alluvial diamond production in the world.

Lucapa and its Lulo partners continue to advance their search for the primary kimberlite sources of these exceptional alluvial gems through a systematic drilling and exploration program.

Lucapa commenced commercial diamond recoveries in January 2019 at the company’s second high value mine, the 1.1 Mtpa Mothae kimberlite mine in diamond-rich Lesotho and has already recovered five +50 carat diamonds in its own sampling and commercial mining operations.

Lucapa also has early stage exploration projects at Brooking in Western Australia and Orapa Area F in Botswana.

Lucapa’s Board and managements team have decades of diamond industry experience across the globe with companies including De Beers and Gem Diamonds.

Source: DCLA

130 carat gem quality diamond recovered at Lulo

The 130 carat diamond is the 13th +100 carat diamond recovered to date and the second recovered so far in 2019.

This recovery, together with the continued recovery of other large special white and fancy coloured diamonds continues to highlight the very special nature of the Lulo diamond concession.

The 130 carat diamond adds to the current inventory of high-value large Special run-of-mine diamonds, including top colour white diamonds, weighing 128 carats and 62 carats, as well as a number of fancy pink coloured diamonds.

The majority of the diamond inventory is scheduled for sale this quarter by the alluvial mining company, Sociedade Mineira Do Lulo, however, some diamonds may be extracted and held for tender at a later date.

Lucapa is a growing diamond company with high-value mines in Angola and Lesotho, along with exploration projects in Angola, Australia and Botswana.

Lucapa’s vision is to become a leading producer of large and premium-quality diamonds – from both alluvial and kimberlite sources – in Africa and other known diamond provinces around the world.

The company’s focus on high-value diamond production is designed to protect cash flows in a sector of the diamond market where demand and prices remain robust.

Lucapa’s flagship asset is the Lulo diamond project in Angola, which is a prolific producer of large and premium-value alluvial diamonds.

Lulo has produced 13 +100ct diamonds to date and is the highest average US$ per carat alluvial diamond production in the world.

Lucapa and its Lulo partners continue to advance their search for the primary kimberlite sources of these exceptional alluvial gems through a systematic drilling and exploration program.

Lucapa commenced commercial diamond recoveries in January 2019 at the company’s second high value mine, the 1.1 Mtpa Mothae kimberlite mine in diamond-rich Lesotho and has already recovered five +50 carat diamonds in its own sampling and commercial mining operations.

Lucapa also has early stage exploration projects at Brooking in Western Australia and Orapa Area F in Botswana.

Lucapa’s Board and managements team have decades of diamond industry experience across the globe with companies including De Beers and Gem Diamonds.

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