GIA Considers Shutting Antwerp Lab

The Gemological Institute of America (GIA) plans to close or heavily scale back its Antwerp operations following a review of its business in the Belgian city.

“Based on global and local market conditions and activity, and the impact of the global pandemic, the GIA conducted an evaluation of the long-term viability of GIA Belgium,” a spokesperson for the organization told Rapaport News on Friday. “As a result of that evaluation, we have the intention to close or significantly reduce the GIA laboratory and offices in Antwerp, which will likely result in a reduction in staff.”

The GIA invested in its Antwerp business as recently as 2018, expanding the office’s research and traceability services and adding diamond grading to its capabilities — though it also shuttered its Dubai branch the same year.

The decision about the “closure or near-closure” in Antwerp is not final, the GIA noted, and the group is consulting with staff members in Belgium.

Around 50 people could lose their jobs if the move goes through, according to Belgian newspaper Het Laatste Nieuws.

Belgium’s diamond industry has struggled in recent years amid a shift in manufacturing work to India and a reduction in bank lending to the sector. The coronavirus has intensified the situation: The country’s polished exports for 2020’s second quarter slid 71% year on year to $813.2 million as global demand plummeted and shipping routes shut down. The GIA lab closed for almost two months during the pandemic.

The laboratory will maintain its current operations in the meantime, meaning clients will still be able to submit and pick up stones, the GIA stated.

Source: DCLA

GIA Considers Shutting Antwerp Lab

The Gemological Institute of America (GIA) plans to close or heavily scale back its Antwerp operations following a review of its business in the Belgian city.

“Based on global and local market conditions and activity, and the impact of the global pandemic, the GIA conducted an evaluation of the long-term viability of GIA Belgium,” a spokesperson for the organization told Rapaport News on Friday. “As a result of that evaluation, we have the intention to close or significantly reduce the GIA laboratory and offices in Antwerp, which will likely result in a reduction in staff.”

The GIA invested in its Antwerp business as recently as 2018, expanding the office’s research and traceability services and adding diamond grading to its capabilities — though it also shuttered its Dubai branch the same year.

The decision about the “closure or near-closure” in Antwerp is not final, the GIA noted, and the group is consulting with staff members in Belgium.

Around 50 people could lose their jobs if the move goes through, according to Belgian newspaper Het Laatste Nieuws.

Belgium’s diamond industry has struggled in recent years amid a shift in manufacturing work to India and a reduction in bank lending to the sector. The coronavirus has intensified the situation: The country’s polished exports for 2020’s second quarter slid 71% year on year to $813.2 million as global demand plummeted and shipping routes shut down. The GIA lab closed for almost two months during the pandemic.

The laboratory will maintain its current operations in the meantime, meaning clients will still be able to submit and pick up stones, the GIA stated.

Source: DCLA

Rare Australian diamonds expected to fetch millions

Ultra rare pink Australian diamonds are expected to sell for millions of dollars at an upcoming auction.

The diamonds have generated interest among buyers as they were sourced from the Argyle site in Western Australia, which is the largest diamond mine in the country which plans to close it by 2021. 

This Argyle pink diamond necklace will also be put up for bidding on Sunday

‘We expect there to be some fierce bidding come auction day in a couple of days time in the bid to win these unique, highly desirable and collectable pieces,’ Head of Fine Art and Antiquities for Lloyds Auctions Amanda Benson said.

The Argyle mine turns out less than 0.1 per cent of the world’s diamonds, though its gems are world renowned.

Earlier this year, an incredible 28 carat ultra-rare white diamond was discovered at the site. General manager of Argyle Diamonds, Andrew Wilson, said: ‘Argyle Octavia is unique in its size, shape and beautiful provenance.’

The diamonds have generated buzz among bidders as they were sourced from Argyle Australia’s largest diamond mine in Western Australia.

Source: DCLA

Rare Australian diamonds expected to fetch millions

Ultra rare pink Australian diamonds are expected to sell for millions of dollars at an upcoming auction.

The diamonds have generated interest among buyers as they were sourced from the Argyle site in Western Australia, which is the largest diamond mine in the country which plans to close it by 2021. 

This Argyle pink diamond necklace will also be put up for bidding on Sunday

‘We expect there to be some fierce bidding come auction day in a couple of days time in the bid to win these unique, highly desirable and collectable pieces,’ Head of Fine Art and Antiquities for Lloyds Auctions Amanda Benson said.

The Argyle mine turns out less than 0.1 per cent of the world’s diamonds, though its gems are world renowned.

Earlier this year, an incredible 28 carat ultra-rare white diamond was discovered at the site. General manager of Argyle Diamonds, Andrew Wilson, said: ‘Argyle Octavia is unique in its size, shape and beautiful provenance.’

The diamonds have generated buzz among bidders as they were sourced from Argyle Australia’s largest diamond mine in Western Australia.

Source: DCLA

Four Hublot’s That Shine Bright Like A Diamond

Diamonds have the power to transform the look of a watch completely. It can give sportive watches a touch of elegance, where it makes quite a difference if the understated baguette-cut is selected, or the more vibrant brilliant cut, while a mixture of both has an appeal of its own as well. For Hublot, diamonds are part of the ‘Art of Fusion,’ as they seamlessly integrate them in the following four stunning watches;

Spirit of Big Bang High Jewelry
As can be expected from a brand like Hublot, does it not settle for just an ordinary setting when decorating one of their watches with diamonds. This Spirit of Big Bang is the perfect example of this. Hublot took different shapes and sizes of diamonds and set them in the case, dividing each with a white gold rim that holds the gemstone. Such a setting is extremely difficult to accomplish, especially on the already complex case shape of the Spirit of Big Bang. The result is breathtaking, as it looks like cracked ice with an ice-hole at the bottom through which we don’t see water, but a tourbillon.

Classic Fusion Aerofusion Chronograph High Jewelry
It is improbable that James Bond will ever sport a diamond-set watch on the big screen, but when he does, this Classic Fusion Aerofusion Chronograph High Jewelry might be perfect. It is another watch in which Hublot utilizes a very complex setting, creating an effect very much like the gun barrel sequence at the start of each James Bond movie. It gives the Classic Fusion Aerofusion Chronograph a very dynamic look, not commonly associated with a diamond-set watch. Hublot went even as far as setting the skeletonized dial with diamonds, another feature not easy to accomplish. It is offered in white gold, but also in King gold, where it shows a different side of its character.

Big Bang MP-11 High Jewellery
The Big Bang MP-11 imposes with its seven series-coupled mainspring barrels, which give the watch a power reserve of 14-days. As they are horizontally aligned at the bottom of the movement, the sapphire crystal has a slight dome to accommodate them underneath. The case has this dome also, and while already stunning in the regular edition, the High Jewellery version is even more breathtaking. Here Hublot opted for a very close setting of baguette-cut diamonds, which make it look like most of the watch is made out of a solid gemstone.

Hublot Big Bang Tourbillon Power Reserve 5 Days High Jewellery
Sometimes you want it all, with both the watch and the bracelet completely set with diamonds. The Hublot Big Bang Tourbillon Power Reserve 5 Days High Jewellery offers just that, combined with a generous five-day power reserve and a tourbillon. The watch is set in such an exquisite way that hardly any part of the white gold case and bracelet shows. To achieve this, Hublot used 1.574 diamonds, with a total carat weight of 84.90. The fun part of this watch is that it also comes with Hublot’s patented ‘One-click system,’ which enables you to switch between the diamond set bracelet and a rubber or alligator strap in a matter of seconds.

Source: DCLA

Four Hublot’s That Shine Bright Like A Diamond

Diamonds have the power to transform the look of a watch completely. It can give sportive watches a touch of elegance, where it makes quite a difference if the understated baguette-cut is selected, or the more vibrant brilliant cut, while a mixture of both has an appeal of its own as well. For Hublot, diamonds are part of the ‘Art of Fusion,’ as they seamlessly integrate them in the following four stunning watches;

Spirit of Big Bang High Jewelry
As can be expected from a brand like Hublot, does it not settle for just an ordinary setting when decorating one of their watches with diamonds. This Spirit of Big Bang is the perfect example of this. Hublot took different shapes and sizes of diamonds and set them in the case, dividing each with a white gold rim that holds the gemstone. Such a setting is extremely difficult to accomplish, especially on the already complex case shape of the Spirit of Big Bang. The result is breathtaking, as it looks like cracked ice with an ice-hole at the bottom through which we don’t see water, but a tourbillon.

Classic Fusion Aerofusion Chronograph High Jewelry
It is improbable that James Bond will ever sport a diamond-set watch on the big screen, but when he does, this Classic Fusion Aerofusion Chronograph High Jewelry might be perfect. It is another watch in which Hublot utilizes a very complex setting, creating an effect very much like the gun barrel sequence at the start of each James Bond movie. It gives the Classic Fusion Aerofusion Chronograph a very dynamic look, not commonly associated with a diamond-set watch. Hublot went even as far as setting the skeletonized dial with diamonds, another feature not easy to accomplish. It is offered in white gold, but also in King gold, where it shows a different side of its character.

Big Bang MP-11 High Jewellery
The Big Bang MP-11 imposes with its seven series-coupled mainspring barrels, which give the watch a power reserve of 14-days. As they are horizontally aligned at the bottom of the movement, the sapphire crystal has a slight dome to accommodate them underneath. The case has this dome also, and while already stunning in the regular edition, the High Jewellery version is even more breathtaking. Here Hublot opted for a very close setting of baguette-cut diamonds, which make it look like most of the watch is made out of a solid gemstone.

Hublot Big Bang Tourbillon Power Reserve 5 Days High Jewellery
Sometimes you want it all, with both the watch and the bracelet completely set with diamonds. The Hublot Big Bang Tourbillon Power Reserve 5 Days High Jewellery offers just that, combined with a generous five-day power reserve and a tourbillon. The watch is set in such an exquisite way that hardly any part of the white gold case and bracelet shows. To achieve this, Hublot used 1.574 diamonds, with a total carat weight of 84.90. The fun part of this watch is that it also comes with Hublot’s patented ‘One-click system,’ which enables you to switch between the diamond set bracelet and a rubber or alligator strap in a matter of seconds.

Source: DCLA

Chinese Online Giant to Offer Verified GIA Reports

Technology provider Everledger has teamed up with the Gemological Institute of America (GIA) to verify diamond grading reports on e-commerce site JD.com, China’s largest retailer.

Everledger will synchronize the GIA’s grading information to JD’s existing anti-counterfeiting platform, giving consumers independently verified grading reports, the three organizations said in a joint statement Tuesday. The program will also offer origin information, while identifying and reducing fraud, such as the use of the same GIA report for multiple stones.

Using blockchain technology, the service will give “unprecedented” transparency and enhance the digital-shopping experience amid a rise in online diamond buying, the groups said. “Digitally savvy” millennials account for a larger proportion of diamond sales in China than elsewhere in the world, they added.

“Given the growth in e-commerce, fraud is a very real risk in the diamond market, which is why it’s so important that consumers have access to secure and trustworthy information,” explained Chris Taylor, Everledger’s chief operating officer. “By bringing cutting-edge blockchain technology, online luxury shopping, and GIA’s gold-standard grading expertise together on JD.com, we’re empowering consumers to purchase luxury items with increased confidence.”

The information will be available through JD’s mobile and desktop websites, as well as on its app. The e-commerce giant will also offer livestreams and educational initiatives to teach customers about fraud associated with purchasing diamonds.

London-based Everledger entered greater China in 2018, when it collaborated with the GIA and Hong Kong-based jewelry retailer Chow Tai Fook to offer consumers secure grading reports using blockchain technology. The technology company also partnered with Alrosa to offer provenance information on diamonds through Chinese multipurpose app WeChat. Tencent, which owns WeChat, led Everledger’s Series A funding round last year.

JD, headquartered in Beijing, recorded revenues of $82.9 billion in 2019, putting it ahead of rival Alibaba, which brought in $72 billion in the fiscal year ending March 31, 2020.

Source: DCLA