Rare Rough Blue Diamonds

 

Recovered from the famous Cullinan Mine in South Africa, these blue diamonds are among the world’s most expensive

Five blue diamonds have been recovered from Petra Diamonds’ famous Cullinan mine in South Africa.

They are among the world’s most expensive diamonds, and were formed deep within the Earth about 400 miles below the surface, which is four times as deep as white diamonds. The element boron, which is what gives the stones their blue colour, combines with carbon and crystallises under extreme pressure and heat.

The sales tender for the five Type IIb blue diamonds will close later this month, on November 24, following viewings in Antwerp, Hong Kong and New York. They weigh 25.75, 21.25, 17.57, 11.42 and 9.61 carats, respectively.

Type II diamonds contain no detectable nitrogen in their chemical structure, which means they boast exceptional transparency.

Blue diamonds are so rare that most people, even in the jewellery industry, never have a chance to see one. It’s incredibly unusual that these five diamonds were all recovered within the space of one week’s production in September.

Their birthplace, the Cullinan mine, is one of the most important sources of blue diamonds. It’s also the origin of the 3,106 carat Cullinan diamond, which was cut to form the 530 carat Great Star of Africa and the 317 carat Second Star of Africa, which are set into the British Crown Jewels.

It’s the first time that five rough blue diamonds have been offered for sale at the same time. In 2013, a 25.5 carat blue diamond was sold by Petra Diamonds for over US$16.9 million.

Source: DCLA

Rare Rough Blue Diamonds

 

Recovered from the famous Cullinan Mine in South Africa, these blue diamonds are among the world’s most expensive

Five blue diamonds have been recovered from Petra Diamonds’ famous Cullinan mine in South Africa.

They are among the world’s most expensive diamonds, and were formed deep within the Earth about 400 miles below the surface, which is four times as deep as white diamonds. The element boron, which is what gives the stones their blue colour, combines with carbon and crystallises under extreme pressure and heat.

The sales tender for the five Type IIb blue diamonds will close later this month, on November 24, following viewings in Antwerp, Hong Kong and New York. They weigh 25.75, 21.25, 17.57, 11.42 and 9.61 carats, respectively.

Type II diamonds contain no detectable nitrogen in their chemical structure, which means they boast exceptional transparency.

Blue diamonds are so rare that most people, even in the jewellery industry, never have a chance to see one. It’s incredibly unusual that these five diamonds were all recovered within the space of one week’s production in September.

Their birthplace, the Cullinan mine, is one of the most important sources of blue diamonds. It’s also the origin of the 3,106 carat Cullinan diamond, which was cut to form the 530 carat Great Star of Africa and the 317 carat Second Star of Africa, which are set into the British Crown Jewels.

It’s the first time that five rough blue diamonds have been offered for sale at the same time. In 2013, a 25.5 carat blue diamond was sold by Petra Diamonds for over US$16.9 million.

Source: DCLA

Pink Diamond Ring Beats Estimate at Bonhams

 

A fancy pink diamond ring by Meister was the top seller at the Bonhams London Jewels sale, garnering $1.1 million USD.

The piece, with a step-cut 3.62 carat center stone and designed in 1968 by Meister, exceeded its high estimate of $989,417 USD at the November 12 auction, Bonhams said last week. 

A diamond brooch from the collection of Dame Joan Collins, designed by Van Cleef & Arpels, fetched $161,892 USD, more than six times its high valuation. It was part of a collection of the actress’s jewels that saw 100% of items find buyers, with the final sales total three times higher than the auctioneer had estimated. A portion of the proceeds from Collins’s jewelry will be donated to the Shooting Star Children’s Hospice, of which she is a patron.

Other notable items at the auction included a sapphire and diamond ring, which fetched $189,865 USD against a high estimate of $131,851 USD, and a three-stone diamond ring, which brought in $132,179 USD, nearly doubling its estimate.

In total, the auction achieved $5 million USD, with Bonhams selling 75% of items on offer.

“Despite the auction taking place behind closed doors, the bidding remained spirited and the results demonstrate that high quality pieces with extraordinary provenance continue to captivate buyers around the world,” said Jean Ghika, global head of jewelry for Bonhams.

Source: DCLA

Pink Diamond Ring Beats Estimate at Bonhams

 

A fancy pink diamond ring by Meister was the top seller at the Bonhams London Jewels sale, garnering $1.1 million USD.

The piece, with a step-cut 3.62 carat center stone and designed in 1968 by Meister, exceeded its high estimate of $989,417 USD at the November 12 auction, Bonhams said last week. 

A diamond brooch from the collection of Dame Joan Collins, designed by Van Cleef & Arpels, fetched $161,892 USD, more than six times its high valuation. It was part of a collection of the actress’s jewels that saw 100% of items find buyers, with the final sales total three times higher than the auctioneer had estimated. A portion of the proceeds from Collins’s jewelry will be donated to the Shooting Star Children’s Hospice, of which she is a patron.

Other notable items at the auction included a sapphire and diamond ring, which fetched $189,865 USD against a high estimate of $131,851 USD, and a three-stone diamond ring, which brought in $132,179 USD, nearly doubling its estimate.

In total, the auction achieved $5 million USD, with Bonhams selling 75% of items on offer.

“Despite the auction taking place behind closed doors, the bidding remained spirited and the results demonstrate that high quality pieces with extraordinary provenance continue to captivate buyers around the world,” said Jean Ghika, global head of jewelry for Bonhams.

Source: DCLA

$27M Pink Diamond Sets Record at Sotheby’s

 

Alrosa’s Spirit of the Rose has achieved the highest price for any purple-pink diamond, selling to an anonymous bidder for nearly $27 million at Sotheby’s Geneva.

The oval modified brilliant-cut, 14.83-carat, fancy-vivid-purple-pink, internally flawless, type II stone, named for the famous Russian ballet, sold for $26.6 million, beating its low estimate of $23 million. The diamond, which fetched $1.8 million per carat, led the Magnificent Jewels and Noble Jewels live auction Wednesday, which garnered $52.2 million in total, Sotheby’s said.

The purchase comes on the heels of the recent closure of Rio Tinto’s Argyle mine in Australia, which produced more than 90% of the world’s pink diamonds. Prices for stones of that color are likely to soar in the coming years, experts have noted.

“The Spirit of the Rose caught the imagination of everyone who had the chance to see it,” said Benoit Repellin, head of the Sotheby’s Geneva Magnificent Jewels auction. “With its size, beautiful color, perfect cut and oval shape, it is a wonder of nature, steeped in Russia’s century-long diamond tradition and cultural heritage. It fully deserves the price achieved tonight, which is also testament to the growing appreciation and awareness of the great scarcity of pink diamonds around the world.”

Sotheby’s also saw strong prices for white diamonds at the auction, with 10 out of 11 stones on offer selling above their estimates. A cushion-shaped, 18.03-carat, D-color, flawless, type IIa diamond fetched $1.9 million against a high estimate of $1.1 million, while a pear-shaped, 102.41-carat, light-brown diamond of VVS2 clarity brought in $1.3 million, exceeding its high valuation.

Noble jewels were in demand as well, Sotheby’s said, led by a Colombian emerald and diamond parure from the collection of the first Marquis de Guirior, viceroy of New Granada and viceroy of Peru. That piece also surpassed its high estimate, fetching $1.1 million.

Source: DCLA

$27M Pink Diamond Sets Record at Sotheby’s

 

Alrosa’s Spirit of the Rose has achieved the highest price for any purple-pink diamond, selling to an anonymous bidder for nearly $27 million at Sotheby’s Geneva.

The oval modified brilliant-cut, 14.83-carat, fancy-vivid-purple-pink, internally flawless, type II stone, named for the famous Russian ballet, sold for $26.6 million, beating its low estimate of $23 million. The diamond, which fetched $1.8 million per carat, led the Magnificent Jewels and Noble Jewels live auction Wednesday, which garnered $52.2 million in total, Sotheby’s said.

The purchase comes on the heels of the recent closure of Rio Tinto’s Argyle mine in Australia, which produced more than 90% of the world’s pink diamonds. Prices for stones of that color are likely to soar in the coming years, experts have noted.

“The Spirit of the Rose caught the imagination of everyone who had the chance to see it,” said Benoit Repellin, head of the Sotheby’s Geneva Magnificent Jewels auction. “With its size, beautiful color, perfect cut and oval shape, it is a wonder of nature, steeped in Russia’s century-long diamond tradition and cultural heritage. It fully deserves the price achieved tonight, which is also testament to the growing appreciation and awareness of the great scarcity of pink diamonds around the world.”

Sotheby’s also saw strong prices for white diamonds at the auction, with 10 out of 11 stones on offer selling above their estimates. A cushion-shaped, 18.03-carat, D-color, flawless, type IIa diamond fetched $1.9 million against a high estimate of $1.1 million, while a pear-shaped, 102.41-carat, light-brown diamond of VVS2 clarity brought in $1.3 million, exceeding its high valuation.

Noble jewels were in demand as well, Sotheby’s said, led by a Colombian emerald and diamond parure from the collection of the first Marquis de Guirior, viceroy of New Granada and viceroy of Peru. That piece also surpassed its high estimate, fetching $1.1 million.

Source: DCLA

Lucara Finds 998 Carat Diamond

 

The Karowe mine has produced a 998-carat diamond, the latest in a string of large rough stones from the lucrative deposit in Botswana.

Lucara Diamond Corp., which owns Karowe, will work with manufacturing partner HB Antwerp to assess how to maximize value from the rough, the miner said Wednesday. The unbroken, high-white, clivage stone — meaning it needs to be split before further processing — came from the EM/PK(S) unit of the site’s south lobe, which has yielded some of the world’s biggest and most famous diamonds.

“Lucara is extremely pleased with the continued recovery of large, high-quality diamonds from the south lobe of the Karowe mine,” said CEO Eira Thomas. “To recover two [500-carat-plus] diamonds in 10 months, along with the many other high-quality diamonds across all the size ranges, is a testament to the unique aspect of the resource at Karowe and the mine’s ability to recover these large and rare diamonds.”

The EM/PK(S) area produced the 1,109-carat Lesedi La Rona in 2015, as well as the 1,758-carat Sewelô, which HB bought in January this year in collaboration with luxury brand Louis Vuitton.

The Belgian manufacturer later agreed to purchase all of Lucara’s rough above 10.8 carats for the remainder of the year. Last week, Lucara announced the sale of a 549-carat diamond from the same high-value patch of Karowe, with HB and Louis Vuitton again partnering on the stone.

The arrangement with HB prevented a heavier decline in Lucara’s sales in the third quarter, the first period in which income from the partnership started appearing in the miner’s top line.

Group revenue fell 9% year on year to $41.3 million in the three months ending September 30, reflecting Lucara’s decision not to hold its usual tenders of stones above 10.8 carats, the company reported Wednesday. Instead, it sold 5,633 carats through the HB partnership, with sales taking place approximately twice a month, while the miner’s online selling platform, Clara, boosted sales of smaller goods.

Total sales volume fell 3% to 112,943 carats, with the average price down 6% to $365 per carat. The company’s net loss deepened by 35% to $5.4 million.

“Lucara is now receiving regular, predictable revenue for its [10.8-carat-plus] diamonds using a superior pricing mechanism based on estimated polished outcomes less a commission and the cost of polishing,” Thomas added.

Source: DCLA