Miner Finds 442-Carat Diamond That May Be Worth $18 Million

A small diamond miner that has dug some of the world’s most valuable gems from a mountainous African kingdom has found another huge stone.

Gem Diamonds Ltd. said Friday it had an unearthed a 442-carat diamond at its Letseng mine in Lesotho. While it’s hard to establish a price for such stones before cutters can evaluate them, it could sell for as much as $18 million, Edward Sterck, analyst at BMO Capital Markets, wrote in a note.

Given the rarity of such large stones, demand for big diamonds has traditionally been resilient, even at times when the wider industry has struggled.

The Letseng mine is famous for the size and quality of the diamonds it produces and has the highest average selling price in the world. Two years ago Gem Diamonds found a 910-carat stone, the size of two golf balls, that sold for $40 million.

The find comes as the global diamond industry has been brought to its knees by the pandemic. Jewelry stores have closed and India’s cutting industry, which handles almost all of the world’s stones, has come to a halt. The miners that dominate the industry, De Beers and Russian rival Alrosa PJSC, have seen their rough diamond sales collapse.

“The recovery of this remarkable 442 carat diamond, one of the world’s largest gem quality diamonds to be recovered this year, is further confirmation of the caliber of the Letseng mine and its ability to consistently produce large, high quality diamonds,” Clifford Elphick, Gem’s chief executive officer, said in the statement.

Source: DCLA

Miner Finds 442-Carat Diamond That May Be Worth $18 Million

A small diamond miner that has dug some of the world’s most valuable gems from a mountainous African kingdom has found another huge stone.

Gem Diamonds Ltd. said Friday it had an unearthed a 442-carat diamond at its Letseng mine in Lesotho. While it’s hard to establish a price for such stones before cutters can evaluate them, it could sell for as much as $18 million, Edward Sterck, analyst at BMO Capital Markets, wrote in a note.

Given the rarity of such large stones, demand for big diamonds has traditionally been resilient, even at times when the wider industry has struggled.

The Letseng mine is famous for the size and quality of the diamonds it produces and has the highest average selling price in the world. Two years ago Gem Diamonds found a 910-carat stone, the size of two golf balls, that sold for $40 million.

The find comes as the global diamond industry has been brought to its knees by the pandemic. Jewelry stores have closed and India’s cutting industry, which handles almost all of the world’s stones, has come to a halt. The miners that dominate the industry, De Beers and Russian rival Alrosa PJSC, have seen their rough diamond sales collapse.

“The recovery of this remarkable 442 carat diamond, one of the world’s largest gem quality diamonds to be recovered this year, is further confirmation of the caliber of the Letseng mine and its ability to consistently produce large, high quality diamonds,” Clifford Elphick, Gem’s chief executive officer, said in the statement.

Source: DCLA

Tiffany Promises More Transparency For Diamonds Amid Greater Concern Over Social Responsibility

Tiffany & Co. announced Tuesday it will share the full background of its newly sourced diamond rings, an industry first as it looks to attract customers who care about quality as well as social and environmental responsibility.

ffany & Co. will share more background on its engagement rings. AFP VIA GETTY IMAGES

KEY FACTS

As demand for lab-grown diamonds is on the rise, it is likely Tiffany and other jewelers want to assuage conflict diamond and sustainability concerns which have long plagued the diamond industry. 

The 183 year old jeweler will provide a Tiffany Diamond Certificate with the diamond’s region or countries of origin as well as where it was cut and polished, graded and quality assured and set in jewelry starting this October.

Tiffany says disclosing the country where each stone is crafted and set marks a first for global luxury jewelers and follows last year’s announcement that Tiffany would become the first to provide the country or region of origin for its diamond rings.  

Twenty years ago, diamond industry leaders including Tiffany’s adopted the Kimberley Process aimed at stopping the worldwide trade of conflict diamonds, which it defines as “rough diamonds used to finance wars against governments,” but critics have said the definition is too narrow and does not factor human rights and sustainability concerns. 

In 2018, the advocacy organization Human Rights Watch evaluated whether 13 of the world’s major jewelry brands responsibly source their gems and minerals and Tiffany’s topped the list, still, the report found “none of the companies can identify all of their diamonds’ individual mines of origin.” 

Despite recent “quarantine proposals,” Tiffany’s engagement jewelry sales dropped nearly 97% year-over-year from $280.4 million to $142.5 million in the first quarter of 2020 and total net sales dropped by nearly 45% from more than $1 billion to $555.5 million.

TANGENT

Nearly 70% of millennials would consider buying an engagement ring with a lab-grown diamond, according to a 2018 report from MVI Industries, a marketing research and analytics firm for the gem, jewelry and watch industries. Lab-grown diamonds have the same chemical composition as a traditional diamond but they are usually less expensive.

Source: DCLA

Tiffany Promises More Transparency For Diamonds Amid Greater Concern Over Social Responsibility

Tiffany & Co. announced Tuesday it will share the full background of its newly sourced diamond rings, an industry first as it looks to attract customers who care about quality as well as social and environmental responsibility.

ffany & Co. will share more background on its engagement rings. AFP VIA GETTY IMAGES

KEY FACTS

As demand for lab-grown diamonds is on the rise, it is likely Tiffany and other jewelers want to assuage conflict diamond and sustainability concerns which have long plagued the diamond industry. 

The 183 year old jeweler will provide a Tiffany Diamond Certificate with the diamond’s region or countries of origin as well as where it was cut and polished, graded and quality assured and set in jewelry starting this October.

Tiffany says disclosing the country where each stone is crafted and set marks a first for global luxury jewelers and follows last year’s announcement that Tiffany would become the first to provide the country or region of origin for its diamond rings.  

Twenty years ago, diamond industry leaders including Tiffany’s adopted the Kimberley Process aimed at stopping the worldwide trade of conflict diamonds, which it defines as “rough diamonds used to finance wars against governments,” but critics have said the definition is too narrow and does not factor human rights and sustainability concerns. 

In 2018, the advocacy organization Human Rights Watch evaluated whether 13 of the world’s major jewelry brands responsibly source their gems and minerals and Tiffany’s topped the list, still, the report found “none of the companies can identify all of their diamonds’ individual mines of origin.” 

Despite recent “quarantine proposals,” Tiffany’s engagement jewelry sales dropped nearly 97% year-over-year from $280.4 million to $142.5 million in the first quarter of 2020 and total net sales dropped by nearly 45% from more than $1 billion to $555.5 million.

TANGENT

Nearly 70% of millennials would consider buying an engagement ring with a lab-grown diamond, according to a 2018 report from MVI Industries, a marketing research and analytics firm for the gem, jewelry and watch industries. Lab-grown diamonds have the same chemical composition as a traditional diamond but they are usually less expensive.

Source: DCLA

Christie’s Is Hosting its First-Ever Online Sale Dedicated to Diamonds—and Nothing Else

The top lot is a Graff pendant necklace expected to fetch at least $300,000.

Square-cut or pear-shaped, colorless or fancy-colored, loose or mounted, the rocks on the block at Jewels Online: Summer Sparkle — Christie’s first-ever online sale dedicated to diamonds — are sure to delight new buyers and seasoned collectors alike.

With 50 lots ranging from a triangular diamond eternity band (lot 36) with a low estimate of $2,000 to the top lot, a 20.21-ct. pear-shaped yellow-brown diamond mounted in a Graff necklace (lot 41) and estimated at $300,000–$400,000, the selection covers all taste, style and price preferences.

Lovers of uniquely colored diamonds are in for a treat, as the sale is rich in rare gems in rainbow hues, including pinks, oranges and greens—not to mention grays, browns and yellows. There is a showstopper of a ring centered on a square modified fancy grayish yellowish-green diamond framed by pink and white diamonds and set in platinum and rose gold (lot 37, estimated at $20,000–$30,000); a ring topped by a 7.6-ct. fancy deep brown-yellow diamond mounted, rather cheekily, on the horizontal (lot 20, $12,000–$18,000); and a sculpted Sabbadini flower brooch studded with colored and colorless diamonds (lot 24, $6,000–$8,000)

Rings, such as a 5.03-ct. pear brilliant-cut diamond set horizontally on a highly polished band of 18-karat blackened gold (lot 1, $60,000–$80,000), dominate the mostly contemporary selection, but there are plenty of earrings, too — including multiple styles by Graff as well as the British jeweler David Morris.

Clients with a passion for high design likewise will not be disappointed. Consider the pear-shaped pendant necklace designed by Elsa Peretti for Tiffany & Co. and suspended on a chic gold link chain (lot 47, $5,000–$7,000), or the sale’s lone bracelet, an 18k yellow gold bangle style by David Morris set with pavé yellow diamonds and marquise diamond accents (lot 33, $15,000–$20,000).

Source: DCLA

Christie’s Is Hosting its First-Ever Online Sale Dedicated to Diamonds—and Nothing Else

The top lot is a Graff pendant necklace expected to fetch at least $300,000.

Square-cut or pear-shaped, colorless or fancy-colored, loose or mounted, the rocks on the block at Jewels Online: Summer Sparkle — Christie’s first-ever online sale dedicated to diamonds — are sure to delight new buyers and seasoned collectors alike.

With 50 lots ranging from a triangular diamond eternity band (lot 36) with a low estimate of $2,000 to the top lot, a 20.21-ct. pear-shaped yellow-brown diamond mounted in a Graff necklace (lot 41) and estimated at $300,000–$400,000, the selection covers all taste, style and price preferences.

Lovers of uniquely colored diamonds are in for a treat, as the sale is rich in rare gems in rainbow hues, including pinks, oranges and greens—not to mention grays, browns and yellows. There is a showstopper of a ring centered on a square modified fancy grayish yellowish-green diamond framed by pink and white diamonds and set in platinum and rose gold (lot 37, estimated at $20,000–$30,000); a ring topped by a 7.6-ct. fancy deep brown-yellow diamond mounted, rather cheekily, on the horizontal (lot 20, $12,000–$18,000); and a sculpted Sabbadini flower brooch studded with colored and colorless diamonds (lot 24, $6,000–$8,000)

Rings, such as a 5.03-ct. pear brilliant-cut diamond set horizontally on a highly polished band of 18-karat blackened gold (lot 1, $60,000–$80,000), dominate the mostly contemporary selection, but there are plenty of earrings, too — including multiple styles by Graff as well as the British jeweler David Morris.

Clients with a passion for high design likewise will not be disappointed. Consider the pear-shaped pendant necklace designed by Elsa Peretti for Tiffany & Co. and suspended on a chic gold link chain (lot 47, $5,000–$7,000), or the sale’s lone bracelet, an 18k yellow gold bangle style by David Morris set with pavé yellow diamonds and marquise diamond accents (lot 33, $15,000–$20,000).

Source: DCLA

Two 20-Carat Diamond Watches From Jaeger-LeCoultre Have World’s Smallest Movement

Jaeger-LeCoultre has held the record for the world’s smallest mechanical movement – since 1929. The caliber 101, a mere 14mm long and less than 5mm wide, is still used today. It drives two new high jewelry models from the brand, the Snowdrop and the Bangle. Both are made of 18k pink gold and designed as bracelets, according to standards of high jewelry making, with integrated cases and movements. Each is set with about 20 carats of diamonds, all classified as IF-internally flawless to VVS clarity grade.

The Jaeger-LeCoultre Snowdrop, with 20.9 carats of diamonds. JAEGER-LECOULTRE

The Snowdrop is set with of 904 diamonds, 204 of which are substantially sized pear-shaped gems. The remainder are classic brilliant cuts, for a total of 20.9 carats. The design was inspired by the white bell-shaped flowers of the same name that grow through the snow in the Vallee de Joux watchmaking district of Switzerland. The case is integrated with the manchette-style bracelet, with a circle of pear-shaped diamonds surrounding the dial to form a flower. Waves of diamonds repeat the petal pattern in perfect symmetry throughout the bracelet.Recommended For You

The Jaeger-LeCoultre Bangle watch, with 19.7 carats of diamonds. JAEGER-LECOULTRE

The diamonds in the center of the bracelet are set according to the griffe  or claw method, which minimizes the amount of metal surrounding the gem and allows more light to pass through from different angles. The bracelet’s structure is supported by two bands of gold with diamonds that are grain-set, a linear setting technique in which tiny beads of gold are pulled up from the surface of the metal and pushed over the stone to secure them. The gemsetting work for this piece represents 130 hours of work by Jaeger-LeCoultre artisans.

The Jaeger-LeCoultre Bangle watch, with 19.7 carats of diamonds. JAEGER-LECOULTRE

The Bangle watch is a swirling, geometric Art Deco design with an interplay of symmetry and asymmetry. The bracelet is set with 996 diamonds totaling 19.7 carats, graduated in size to emphasize the sweeping, 3D curves of the design. Altogether, there are 144 griffe-set diamonds and 852 grain-set diamonds. The Bangle opens with a simple twist of each side. 

Setting diamonds into the Snowdrop watch by Jaeger-LeCoultre. JAEGER-LECOULTRE

Over the past 90 years, Jaeger-Le Coultre’s caliber 101 has been used in jewelry watches under its own name as well as in creations by other high-end brands. These rare timepieces have graced the wrists of many notable women, including Queen Elizabeth II, who wore one for her coronation in 1953. The movement has benefited over the years from many improvements in materials and machining, but its dimensions and architecture remain unchanged. The present, fourth-generation movement, caliber 101/4 has 98 components (compared with the original 78).

Source: DCLA