GIA to Cut Back Antwerp Business

 

The Gemological Institute of America (GIA) will scale back its Antwerp operations from January, but has decided not to shut the laboratory entirely.

“Today, we notified clients of the GIA laboratory in Antwerp that, as of January, the laboratory will offer consolidated services with reduced staff,” a spokesperson told Rapaport News Monday. It will continue to provide client consultations, rough-diamond analysis for the GIA Diamond Origin Report, and some follow-up services and inscriptions for D-to-Z diamonds up to 3.99 carats, he added.

In August, the GIA revealed preliminary plans to close or significantly trim its laboratory and offices in the Belgian city, citing market conditions and the Covid-19 pandemic.

Source: DCLA

GIA to Cut Back Antwerp Business

 

The Gemological Institute of America (GIA) will scale back its Antwerp operations from January, but has decided not to shut the laboratory entirely.

“Today, we notified clients of the GIA laboratory in Antwerp that, as of January, the laboratory will offer consolidated services with reduced staff,” a spokesperson told Rapaport News Monday. It will continue to provide client consultations, rough-diamond analysis for the GIA Diamond Origin Report, and some follow-up services and inscriptions for D-to-Z diamonds up to 3.99 carats, he added.

In August, the GIA revealed preliminary plans to close or significantly trim its laboratory and offices in the Belgian city, citing market conditions and the Covid-19 pandemic.

Source: DCLA

Mumbai Bourse to Vote on Lifting Synthetics Ban

 

Mumbai’s Bharat Diamond Bourse (BDB) is on the verge of allowing lab-grown trading, with members due to vote on the matter next week.

The board of the world’s largest diamond hub has recommended the move, arguing that better detection and increased awareness have made it easier to segregate synthetic stones from natural ones. The poll will take place at the annual general meeting (AGM) at the BDB on December 28, according to the exchange’s annual report, which it released last week.

The bourse banned synthetics in 2015, but has been reconsidering the rule for more than two years and holding talks with India’s Natural Diamond Monitoring Committee on how to keep watch of the trade. The board received numerous requests for a meeting in which members could pass the amendment, BDB president Anoop Mehta told Rapaport News Monday.

“I think the vote result will be positive, because a lot of people want to diversify,” Mehta commented.

In the past, “you didn’t have many detection machines, and they were pretty expensive,” he added. “Detection…has gotten much more accessible and reasonable.”

However, companies won’t be able to start trading in synthetics immediately: They will have to apply for this right, Mehta explained. Companies active in both sectors must have detection equipment and keep natural and lab-grown stones in separate rooms, with clear markings on the door to indicate what’s inside. The BDB will cancel the membership of companies that flout the rules.

Meanwhile, the BDB board has recommended removing “natural” from its definition of diamonds, bringing it in line with industry standards, Mehta added. This will also be included in next week’s vote.

Source: DCLA

Mumbai Bourse to Vote on Lifting Synthetics Ban

 

Mumbai’s Bharat Diamond Bourse (BDB) is on the verge of allowing lab-grown trading, with members due to vote on the matter next week.

The board of the world’s largest diamond hub has recommended the move, arguing that better detection and increased awareness have made it easier to segregate synthetic stones from natural ones. The poll will take place at the annual general meeting (AGM) at the BDB on December 28, according to the exchange’s annual report, which it released last week.

The bourse banned synthetics in 2015, but has been reconsidering the rule for more than two years and holding talks with India’s Natural Diamond Monitoring Committee on how to keep watch of the trade. The board received numerous requests for a meeting in which members could pass the amendment, BDB president Anoop Mehta told Rapaport News Monday.

“I think the vote result will be positive, because a lot of people want to diversify,” Mehta commented.

In the past, “you didn’t have many detection machines, and they were pretty expensive,” he added. “Detection…has gotten much more accessible and reasonable.”

However, companies won’t be able to start trading in synthetics immediately: They will have to apply for this right, Mehta explained. Companies active in both sectors must have detection equipment and keep natural and lab-grown stones in separate rooms, with clear markings on the door to indicate what’s inside. The BDB will cancel the membership of companies that flout the rules.

Meanwhile, the BDB board has recommended removing “natural” from its definition of diamonds, bringing it in line with industry standards, Mehta added. This will also be included in next week’s vote.

Source: DCLA

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