De Beers sales rise 12% as diamond demand recovers

 

De Beers Group announced on Wednesday that sales of rough diamonds rose more than 12% in the latest sales cycle, as demand improves on the back of easing covid-19 restrictions and ahead of the holiday season.

Sales of $450 million between November 2 and November 16 were higher than the $400 million a year earlier, but declined from the $467 million in the eighth cycle between September 21 and October 9.

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“Steady demand for rough diamonds continued in the ninth sales cycle of the year, reflecting stable consumer demand for diamond jewellery at the retail level in the US and China, and expectations for reasonable demand to continue throughout the holiday season,” De Beers CEO Bruce Cleaver said in a media release.

“However, the resurgence of covid-19 infections in several consumer markets presents ongoing risks.”

The company has continued to implement a more flexible approach to sales during the year, as a result of restrictions triggered by the pandemic.

It has also cut prices of its stones, sometimes by almost 10% for larger diamonds, in an effort to spark sales.

On Tuesday, rival Petra Diamond Petra reported a 36% fall in revenue and a net loss of $223 million for the year ended June 30, as the pandemic deepened the company’s financial woes.

Source: DCLA

De Beers sales rise 12% as diamond demand recovers

 

De Beers Group announced on Wednesday that sales of rough diamonds rose more than 12% in the latest sales cycle, as demand improves on the back of easing covid-19 restrictions and ahead of the holiday season.

Sales of $450 million between November 2 and November 16 were higher than the $400 million a year earlier, but declined from the $467 million in the eighth cycle between September 21 and October 9.

SIGN UP FOR THE PRECIOUS METALS DIGEST
“Steady demand for rough diamonds continued in the ninth sales cycle of the year, reflecting stable consumer demand for diamond jewellery at the retail level in the US and China, and expectations for reasonable demand to continue throughout the holiday season,” De Beers CEO Bruce Cleaver said in a media release.

“However, the resurgence of covid-19 infections in several consumer markets presents ongoing risks.”

The company has continued to implement a more flexible approach to sales during the year, as a result of restrictions triggered by the pandemic.

It has also cut prices of its stones, sometimes by almost 10% for larger diamonds, in an effort to spark sales.

On Tuesday, rival Petra Diamond Petra reported a 36% fall in revenue and a net loss of $223 million for the year ended June 30, as the pandemic deepened the company’s financial woes.

Source: DCLA

Germany diamond robbery: thieves who cleaned 1 billion euros of diamonds

 

A year ago, three people caused the theft of € 1 billion diamonds in Germany. One of these diamonds was encrusted in a 16th century sword. Police raided apartments in Berlin in the morning and arrested three suspects suspected of theft at the Green Vault Museum last year. Police searched 18 apartments, garages and vehicles and seized digital data, clothing and tools.

Arrest in different parts of the country
It was an operation of such magnitude that 1,638 officers were involved, which hampered traffic. Three people from Germany have been arrested and will be brought before a judge. Force said the arrests were made in different parts of the country. However, little information has been given on this subject. Security camera footage showed two people breaking into the museum and entering a window grill.

Includes many diamonds
One of the stolen items was a sword that contained 9 large diamonds and 770 small diamonds. At the same time, the 49-carat Dresden white diamonds were worn on the shoulder. These are among the most valuable gems that were included in the collection of the former ruler August the Strong. Police say thieves may have turned off alarm systems by cutting off the power.

Difficult to assess
Museum director Marion Ackerman said last year that the material used in the jewelry was not very valuable, but overall it was worth more. He said that these gems are a treasure trove of art and culture and that it is difficult to assess them. Another director of the museum, Dirk Syndrum, said that these decorations were in some way equivalent to World Heritage. In addition to diamonds, sapphires, rubies and emeralds were also among the stolen sets, he said.

Source: DCLA

Germany diamond robbery: thieves who cleaned 1 billion euros of diamonds

 

A year ago, three people caused the theft of € 1 billion diamonds in Germany. One of these diamonds was encrusted in a 16th century sword. Police raided apartments in Berlin in the morning and arrested three suspects suspected of theft at the Green Vault Museum last year. Police searched 18 apartments, garages and vehicles and seized digital data, clothing and tools.

Arrest in different parts of the country
It was an operation of such magnitude that 1,638 officers were involved, which hampered traffic. Three people from Germany have been arrested and will be brought before a judge. Force said the arrests were made in different parts of the country. However, little information has been given on this subject. Security camera footage showed two people breaking into the museum and entering a window grill.

Includes many diamonds
One of the stolen items was a sword that contained 9 large diamonds and 770 small diamonds. At the same time, the 49-carat Dresden white diamonds were worn on the shoulder. These are among the most valuable gems that were included in the collection of the former ruler August the Strong. Police say thieves may have turned off alarm systems by cutting off the power.

Difficult to assess
Museum director Marion Ackerman said last year that the material used in the jewelry was not very valuable, but overall it was worth more. He said that these gems are a treasure trove of art and culture and that it is difficult to assess them. Another director of the museum, Dirk Syndrum, said that these decorations were in some way equivalent to World Heritage. In addition to diamonds, sapphires, rubies and emeralds were also among the stolen sets, he said.

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

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