A WORLD-RENOWNED TEAM OF PINK DIAMOND EXPERTS

 

AN UNSURPASSED REPUTATION FOR QUALITY

We’re a team of pink diamond experts, who run Australia’s leading investment diamond brokerage, Australia Diamond Portfolio (ADP).

For nearly a decade we have sourced some of the rarest pink diamonds from our Sydney Headquarters, for clients here and across the world.

ADP’s mission is to make rare coloured diamonds accessible to all investors and with this in mind, we curated the Legacy Collection to enable collectors to experience the magic of pink diamonds and own a soon-to-be-lost piece of Australia’s ancient past.

If you are an investor looking to purchase diamonds as an investment, visit our investment site.

Source: https://www.legacypinkdiamonds.com.au/

A WORLD-RENOWNED TEAM OF PINK DIAMOND EXPERTS

 

AN UNSURPASSED REPUTATION FOR QUALITY

We’re a team of pink diamond experts, who run Australia’s leading investment diamond brokerage, Australia Diamond Portfolio (ADP).

For nearly a decade we have sourced some of the rarest pink diamonds from our Sydney Headquarters, for clients here and across the world.

ADP’s mission is to make rare coloured diamonds accessible to all investors and with this in mind, we curated the Legacy Collection to enable collectors to experience the magic of pink diamonds and own a soon-to-be-lost piece of Australia’s ancient past.

If you are an investor looking to purchase diamonds as an investment, visit our investment site.

Source: https://www.legacypinkdiamonds.com.au/

Christie’s Rakes In $5M from Paris Sale

 

A 14.7-carat diamond ring was the top seller for Christie’s in Paris, nearly tripling its high estimate.

The marquise-cut, E-color, SI1-clarity stone sold for EUR 437,500 ($531,812), or $35,322 per carat, well above its EUR 150,000 ($182,333) upper valuation. It was one of a number of noteworthy diamonds that led the sale Paris Jewels sale, which took place from November 24 to December 9. The auction brought in $5 million, Christie’s said last week.

A ring set with a rectangular cut-cornered, H-color, VS2-clarity diamond, weighing 1.22 carats, fetched EUR 237,500 ($288,696), or $25,167 per carat, nearly double its high estimate. Meanwhile, a ring containing two old-cut, J-color diamonds, each weighing 6.73 carats, smashed its presale high estimate, selling for EUR 137,500 ($167,139).

Colored stones also performed well, Christie’s noted. A pair of ruby and diamond mystery-set earrings by Van Cleef & Arpels garnered EUR 137,500 against a EUR 40,000 ($48,626) upper estimate, while a Ballerina brooch by the designer brought in EUR 106,250 ($129,164), doubling its estimate. A retro ruby and diamond bracelet, which transforms into double clips, tripled its valuation, achieving EUR 93,500 ($113,664).

In total, Christie’s sold 80% of the items on offer, with many pieces selling above their estimates.

“This last jewelry auction of the season demonstrated the continued strength of the jewelry market despite the challenges due to the pandemic,” said Violaine d’Astorg, director of the jewels department at Christie’s France. “Limited exhibition time and auctions without [the] public in the room were compensated [for] by intense activity on the phone and over Christie’s Live.”

Source: DCLA

Christie’s Rakes In $5M from Paris Sale

 

A 14.7-carat diamond ring was the top seller for Christie’s in Paris, nearly tripling its high estimate.

The marquise-cut, E-color, SI1-clarity stone sold for EUR 437,500 ($531,812), or $35,322 per carat, well above its EUR 150,000 ($182,333) upper valuation. It was one of a number of noteworthy diamonds that led the sale Paris Jewels sale, which took place from November 24 to December 9. The auction brought in $5 million, Christie’s said last week.

A ring set with a rectangular cut-cornered, H-color, VS2-clarity diamond, weighing 1.22 carats, fetched EUR 237,500 ($288,696), or $25,167 per carat, nearly double its high estimate. Meanwhile, a ring containing two old-cut, J-color diamonds, each weighing 6.73 carats, smashed its presale high estimate, selling for EUR 137,500 ($167,139).

Colored stones also performed well, Christie’s noted. A pair of ruby and diamond mystery-set earrings by Van Cleef & Arpels garnered EUR 137,500 against a EUR 40,000 ($48,626) upper estimate, while a Ballerina brooch by the designer brought in EUR 106,250 ($129,164), doubling its estimate. A retro ruby and diamond bracelet, which transforms into double clips, tripled its valuation, achieving EUR 93,500 ($113,664).

In total, Christie’s sold 80% of the items on offer, with many pieces selling above their estimates.

“This last jewelry auction of the season demonstrated the continued strength of the jewelry market despite the challenges due to the pandemic,” said Violaine d’Astorg, director of the jewels department at Christie’s France. “Limited exhibition time and auctions without [the] public in the room were compensated [for] by intense activity on the phone and over Christie’s Live.”

Source: DCLA

De Beers Trims Production Plan for Coming Years

 

De Beers has reduced its production plan for the next two years, aiming to avoid releasing too much rough into the market as the diamond sector attempts to exit the crisis that dominated 2020.

The miner expects to unearth 33 million to 35 million carats in 2021, down from its previous forecast of 34 million to 36 million carats, parent company Anglo American said Friday in a presentation to investors. Output in 2022 will range from 30 million to 33 million carats — compared with earlier guidance of 33 million to 35 million carats — and will remain at the same level in 2023.

De Beers will produce around 26 million carats this year, after the pandemic prompted management to rethink the previous outlook of 32 million to 34 million carats.

“There’s an appropriate degree of prudence being exercised in what we’re forecasting going forward, and we certainly aren’t going to be a contributor to overstocking across the industry now,” said Anglo American CEO Mark Cutifani. “Given the supply situation, we’re going to watch that very carefully. We won’t push more production out there unless we’re comfortable prices are going to increase.”

The adjusted figures came despite De Beers’ expectations of limited global supply, with around 30 million carats dropping out of the pipeline as a result of Covid-19 and the closure of the Argyle mine, he estimated. At least two-thirds of that is unlikely to come back into the market, the executive pointed out. Meanwhile, Cutifani noted signs of a recovery in demand after a difficult year for the industry.

“[It’s] a bit early to call how the Thanksgiving [to] New Year selling season will go, but so far [it’s] quite encouraging despite the obvious Covid issues in the US,” he explained. “China’s been very strong. So far, things are going pretty well.”

However, caution is necessary following a string of major internal and external events that have derailed the diamond market in recent years. Those include a credit crisis in the Indian market in 2018, as well as the US government shutdown that occurred in late 2018 and early 2019, the CEO warned.

Separately, De Beers has made an advance purchase of rough from Debswana, its joint venture with the Botswana government, providing the company with inventory to sell in the first quarter if the demand recovery continues. It also received a one-year extension to negotiations with the African country over their sales deal, after the pandemic prevented the parties from reaching an agreement this year. The 10-year arrangement was due to expire on December 31, 2020.

Source: DCLA

De Beers Trims Production Plan for Coming Years

 

De Beers has reduced its production plan for the next two years, aiming to avoid releasing too much rough into the market as the diamond sector attempts to exit the crisis that dominated 2020.

The miner expects to unearth 33 million to 35 million carats in 2021, down from its previous forecast of 34 million to 36 million carats, parent company Anglo American said Friday in a presentation to investors. Output in 2022 will range from 30 million to 33 million carats — compared with earlier guidance of 33 million to 35 million carats — and will remain at the same level in 2023.

De Beers will produce around 26 million carats this year, after the pandemic prompted management to rethink the previous outlook of 32 million to 34 million carats.

“There’s an appropriate degree of prudence being exercised in what we’re forecasting going forward, and we certainly aren’t going to be a contributor to overstocking across the industry now,” said Anglo American CEO Mark Cutifani. “Given the supply situation, we’re going to watch that very carefully. We won’t push more production out there unless we’re comfortable prices are going to increase.”

The adjusted figures came despite De Beers’ expectations of limited global supply, with around 30 million carats dropping out of the pipeline as a result of Covid-19 and the closure of the Argyle mine, he estimated. At least two-thirds of that is unlikely to come back into the market, the executive pointed out. Meanwhile, Cutifani noted signs of a recovery in demand after a difficult year for the industry.

“[It’s] a bit early to call how the Thanksgiving [to] New Year selling season will go, but so far [it’s] quite encouraging despite the obvious Covid issues in the US,” he explained. “China’s been very strong. So far, things are going pretty well.”

However, caution is necessary following a string of major internal and external events that have derailed the diamond market in recent years. Those include a credit crisis in the Indian market in 2018, as well as the US government shutdown that occurred in late 2018 and early 2019, the CEO warned.

Separately, De Beers has made an advance purchase of rough from Debswana, its joint venture with the Botswana government, providing the company with inventory to sell in the first quarter if the demand recovery continues. It also received a one-year extension to negotiations with the African country over their sales deal, after the pandemic prevented the parties from reaching an agreement this year. The 10-year arrangement was due to expire on December 31, 2020.

Source: DCLA

Retail Diamond Jewelry Sales Recover in India

 

Sales of diamond jewelry in India are recovering and could reach 85 per cent of last year, despite the pandemic, says De Beers.

A surge over the Diwali period, together with strong performances early in 2020 before COVID-19 hit, will largely make up for the second-quarter “washout”, said De Beers India managing director Sachin Jain.

“We saw very high surge in number of consumers with pent-up demand where consumers came and bought,” he told the Press Trust of India news agency.

“Due to government restrictions on travel and number of people allowed in gatherings, a lot of the overall budget for wedding is being utilised towards jewellery.”

He said the De Beers’ brand Forevermark was expected to increase its number of retail outlets by 10, to 270, by the end of the year.

He predicted diamond jewelry sales across all retailers for 2020 would be 70 to 85 per cent of 2019.

Source: DCLA