IGI Grades Record Black Lab-Grown Diamond

 

The International Gemological Institute (IGI) recently graded a 116-carat, black synthetic diamond that ranks as the largest lab-grown diamond of its color.

The 115.65-carat, type IIb stone was produced by UK-based Meylor Global using High Pressure-High Temperature (HPHT), and was accompanied by a second black lab-grown diamond weighing 109.58 carats, IGI said Wednesday.

“The innovative approach in physical chemistry of diamond growth, combined with sophisticated technological methods and advanced high-pressure equipment, allowed us to obtain record-breaking extra-large diamond single crystals, having in mind the idea of getting the biggest possible diamond plate,” said Meylor CEO Yuliya Kusher.

Meylor grew the diamonds as part of its “World’s Largest Black Diamonds Project,” which it began at the beginning of the year. However, it intends to try for a larger one in the future. The larger stone holds the Guinness World Record for its category, IGI reported.

“The significant milestone of [over 100 carats] in diamond size was achieved by our company in a very short time, and the next even more promising target of [over 200 carats] is right now under deep scientific investigation,” Kusher added.

Source: DCLA

IGI Grades Record Black Lab-Grown Diamond

 

The International Gemological Institute (IGI) recently graded a 116-carat, black synthetic diamond that ranks as the largest lab-grown diamond of its color.

The 115.65-carat, type IIb stone was produced by UK-based Meylor Global using High Pressure-High Temperature (HPHT), and was accompanied by a second black lab-grown diamond weighing 109.58 carats, IGI said Wednesday.

“The innovative approach in physical chemistry of diamond growth, combined with sophisticated technological methods and advanced high-pressure equipment, allowed us to obtain record-breaking extra-large diamond single crystals, having in mind the idea of getting the biggest possible diamond plate,” said Meylor CEO Yuliya Kusher.

Meylor grew the diamonds as part of its “World’s Largest Black Diamonds Project,” which it began at the beginning of the year. However, it intends to try for a larger one in the future. The larger stone holds the Guinness World Record for its category, IGI reported.

“The significant milestone of [over 100 carats] in diamond size was achieved by our company in a very short time, and the next even more promising target of [over 200 carats] is right now under deep scientific investigation,” Kusher added.

Source: DCLA

Sotheby’s to Sell 119ct. Sapphire in Hong Kong

 

Sotheby’s will sell a 118.88-carat, royal-blue, unheated Burmese sapphire in Hong Kong next week, the largest of its kind the auction house has offered in 20 years.

The cushion-shaped stone, surrounded by pear-shaped diamonds weighing a total of 16.06 carats, will lead the October 7 Magnificent Jewels sale, Sotheby’s said Monday.

A pear-shaped, 4.84-carat, fancy-vivid-blue, internally flawless diamond ring is also set to go under the hammer. The piece, which also features two brilliant-cut diamonds, each weighing 1.10 carats, has a high estimate of $8.5 million.

Also up for auction are a pair of pendant earrings featuring brilliant-cut, fancy-intense-blue diamonds weighing 1.95 and 1.63 carats. Those stones suspend two pear-shaped, D-color, internally flawless, type IIa diamonds weighing 5.95 and 5.24-carats. The set has a presale value of up to $4.6 million.

In addition, Sotheby’s will feature a cushion-shaped, 6.41-carat, pigeon’s blood Burmese ruby ring surrounded by French-cut white diamonds. The jewel, which was designed and mounted by Hong Kong-based jeweler Forms, carries an upper estimate of $2.9 million. Meanwhile, a ring containing a cut-cornered rectangular modified brilliant-cut, 18.68-carat, fancy-light-purplish-pink diamond is set to fetch up to $2.2 million at the Hong Kong sale.

“The jewelry market has proven to be highly resilient, with our clients in Asia eyeing the best quality jewels on offer,” said Wenhao Yu, Sotheby’s deputy chairman of jewelry for Asia.

Sotheby’s will showcase the pieces in Hong Kong from October 3 to 6 prior to the sale.

Source: DCLA

Sotheby’s to Sell 119ct. Sapphire in Hong Kong

 

Sotheby’s will sell a 118.88-carat, royal-blue, unheated Burmese sapphire in Hong Kong next week, the largest of its kind the auction house has offered in 20 years.

The cushion-shaped stone, surrounded by pear-shaped diamonds weighing a total of 16.06 carats, will lead the October 7 Magnificent Jewels sale, Sotheby’s said Monday.

A pear-shaped, 4.84-carat, fancy-vivid-blue, internally flawless diamond ring is also set to go under the hammer. The piece, which also features two brilliant-cut diamonds, each weighing 1.10 carats, has a high estimate of $8.5 million.

Also up for auction are a pair of pendant earrings featuring brilliant-cut, fancy-intense-blue diamonds weighing 1.95 and 1.63 carats. Those stones suspend two pear-shaped, D-color, internally flawless, type IIa diamonds weighing 5.95 and 5.24-carats. The set has a presale value of up to $4.6 million.

In addition, Sotheby’s will feature a cushion-shaped, 6.41-carat, pigeon’s blood Burmese ruby ring surrounded by French-cut white diamonds. The jewel, which was designed and mounted by Hong Kong-based jeweler Forms, carries an upper estimate of $2.9 million. Meanwhile, a ring containing a cut-cornered rectangular modified brilliant-cut, 18.68-carat, fancy-light-purplish-pink diamond is set to fetch up to $2.2 million at the Hong Kong sale.

“The jewelry market has proven to be highly resilient, with our clients in Asia eyeing the best quality jewels on offer,” said Wenhao Yu, Sotheby’s deputy chairman of jewelry for Asia.

Sotheby’s will showcase the pieces in Hong Kong from October 3 to 6 prior to the sale.

Source: DCLA

India’s rich tussle for Argyle pink diamond because mines are not forever

 

India’s super rich are rushing to grab an Argyle pink diamond before the primary source of rarest pink diamonds in the world for the last four decades, Rio Tinto’s Argyle mine in Australia closes down operations by the end of the year.

Diamond traders said demand for Argyle pink diamonds has shot up by three times among high net worth Indians compared to last year.

“Argyle pink diamond is a true love for diamond connoisseurs across the globe,” said Darshit Hirani, owner of Mumbai-based P Hirani that only deals with coloured diamonds. “In India, there are business families and high net worth individuals from places like Mumbai, Bengaluru and Hyderabad who are aware of the rarity of Argyle pink diamond and they are keen to own one. It is a collector’s item.

Investment-wise it has a lot of value too. Every year, the price of Argyle pink diamond has witnessed a double-digit growth. And once the availability dries up, prices will shoot up further,” he said.

The price of Argyle pink diamond starts at $15,000 a carat and can go up to $1 million depending upon the size and clarity.

Fugitive Indian diamond merchant Nirav Modi was one of the major buyers of Argyle pink diamonds that he had used in his jewellery brand.

For almost 40 years now, the Argyle diamond mine in Kimberley, Western Australia has been producing about 90% of the world’s most coveted pink diamonds.

The mine holds an invitation-only annual Argyle Pink Diamond Tender in which it showcases its best pink, red, and even blue stones from the preceding year.

Its closure is anticipated to disrupt the global diamond market, and the value of coloured diamonds will likely skyrocket as supply falls, traders said.

“Consumers are mostly well aware that this is a good product to purchase. Diamonds continue to enjoy their admiration as an investment,” said Milan Chokshi, who owns Moksh

Jewellery, a diamond jewellery brand that provides its customers information about the dwindling supply pipeline to repose their faith in diamonds. “When mounted in well designed and manufactured jewellery, it not only has investment value, but also artistic and emotional value,” he said.

Not only the Argyle diamonds, natural diamonds will get rarer as days go by as no new mines are coming up, traders said.

Source: DCLA

India’s rich tussle for Argyle pink diamond because mines are not forever

 

India’s super rich are rushing to grab an Argyle pink diamond before the primary source of rarest pink diamonds in the world for the last four decades, Rio Tinto’s Argyle mine in Australia closes down operations by the end of the year.

Diamond traders said demand for Argyle pink diamonds has shot up by three times among high net worth Indians compared to last year.

“Argyle pink diamond is a true love for diamond connoisseurs across the globe,” said Darshit Hirani, owner of Mumbai-based P Hirani that only deals with coloured diamonds. “In India, there are business families and high net worth individuals from places like Mumbai, Bengaluru and Hyderabad who are aware of the rarity of Argyle pink diamond and they are keen to own one. It is a collector’s item.

Investment-wise it has a lot of value too. Every year, the price of Argyle pink diamond has witnessed a double-digit growth. And once the availability dries up, prices will shoot up further,” he said.

The price of Argyle pink diamond starts at $15,000 a carat and can go up to $1 million depending upon the size and clarity.

Fugitive Indian diamond merchant Nirav Modi was one of the major buyers of Argyle pink diamonds that he had used in his jewellery brand.

For almost 40 years now, the Argyle diamond mine in Kimberley, Western Australia has been producing about 90% of the world’s most coveted pink diamonds.

The mine holds an invitation-only annual Argyle Pink Diamond Tender in which it showcases its best pink, red, and even blue stones from the preceding year.

Its closure is anticipated to disrupt the global diamond market, and the value of coloured diamonds will likely skyrocket as supply falls, traders said.

“Consumers are mostly well aware that this is a good product to purchase. Diamonds continue to enjoy their admiration as an investment,” said Milan Chokshi, who owns Moksh

Jewellery, a diamond jewellery brand that provides its customers information about the dwindling supply pipeline to repose their faith in diamonds. “When mounted in well designed and manufactured jewellery, it not only has investment value, but also artistic and emotional value,” he said.

Not only the Argyle diamonds, natural diamonds will get rarer as days go by as no new mines are coming up, traders said.

Source: DCLA

Lucapa’s sale fresh sign of diamond market recovery

 

Australia’s Lucapa Diamond and its partners in Angola have sold $5.6 million worth of diamonds from the Lulo mine at their latest event, a fresh sign that the market is slowly improving.

The miner, Angola’s national diamond company (Endiama) and Rosas & Petalas sold 3,862 carats at an average price of $1,450 per carat. The figure took total sales of diamonds recovered so far this year at Lulo mine to 16,128 carats and $21.3 million.

“As foreshadowed, the strong operational performance and record diamond recoveries at Lulo in July and August, together with a recovering diamond demand positively impacting prices, should bode well for Lulo in H2 2020,” Lucapa’s managing director Stephen Wetherall said.

Global demand for all types of diamonds fell between 2018 and 2019, affecting small stones producers the most, due to an oversupply in that segment that dragged prices down.

Increasing demand for synthetic diamonds also weighed on prices. Man-made stones require less investment than mined ones and can offer more attractive margins.

Just when the market seemed to have bottomed out, it was hit in March by the coronavirus pandemic. Its rapid spread forced some mine shutdowns and limited mobility of potential buyers, painting a bleak picture for even the largest diamond miners.

Conditions since have improved and De Beers, the world’s largest diamond producer by value, was the first major producer to come out with good news. It said earlier this month it had made about three times as much in sales of roughs in the seventh sales cycle of the year as it did in the previous event.

The Anglo American unit, which sells diamonds to a handpicked group of about 80 buyers 10 times a year at events called sights, sold $320 million worth of rough diamonds in the seventh cycle. That compares to the $116 million fetched in the previous sight and is not far behind the $400 million De Beers sold on average each month last year.

Angola’s diamond push
Lucapa’s improved sale also come in the midst of Angola’s fresh attempts to boost its local industry. The West African nation is the world’s fifth diamond producer by value and no.6 by volume.

According to official figures, however, only 40% of Angola’s kimberlite has been discovered.

The country’s industry, which began a century ago under Portuguese colonial rule, is successfully being liberalized.

Last year, Angola held its first public diamond auction and since then, producers no longer have to sell at below-market prices to a handful of buyers favoured by the state.

Endiama revealed in February it was seeking international partners in an attempt to place Angola among the world’s top-three diamond producers.

The country currently has 14 diamond mining projects, with the largest being the Catoca mine, which produces 61% of the country’s output.

Catoca is also the world’s fourth-largest diamond mine in the world. It is owned by a consortium of international mining interests, including Endiama, and Russia’s Alrosa.

Source: DCLA