Tuesday 27 April 2021

Christie’s to Auction $12M Pink Diamond Ring

 


A fancy-intense-pink diamond ring with a high estimate of CHF 11 million ($12 million) is set to feature in the Magnificent Jewels sale at Christie’s Geneva.

The oval-shaped, 15.23-carat piece, surrounded by diamonds, will be offered alongside the 100.94-carat Alrosa Spectacle diamond at the May 12 auction, Christie’s said last week.

Other notable items include a heart-shaped, 53.33-carat, D-color, VVS1-clarity, type IIa diamond pendant with a high valuation of CHF 3 million ($3.3 million). A pear-shaped, 141.22-carat, fancy-brown-yellow diamond set in a diamond necklace is also on offer, carrying a high estimate of CHF 2.8 million ($3.1 million).

Meanwhile, a ring featuring a 47-carat, cushion-shaped old mine Colombian emerald surrounded by diamonds will go under the hammer. The jewel, which is from an important private collection, carries a high presale estimate of CHF 1.6 million ($1.7 million).

Christie’s will also sell a rectangular cut-cornered, 8.06-carat, fancy-purplish-pink, VVS2-clarity diamond ring bracketed by tapered baguette-cut diamonds. The piece, created by Boucheron, has a high valuation of CHF 1.5 million ($1.6 million).

Christie’s will preview the items from May 8. The sale will also feature an online component, which will be open for bidding between April 29 and May 10.

Source: DCLA

Christie’s to Auction $12M Pink Diamond Ring

 


A fancy-intense-pink diamond ring with a high estimate of CHF 11 million ($12 million) is set to feature in the Magnificent Jewels sale at Christie’s Geneva.

The oval-shaped, 15.23-carat piece, surrounded by diamonds, will be offered alongside the 100.94-carat Alrosa Spectacle diamond at the May 12 auction, Christie’s said last week.

Other notable items include a heart-shaped, 53.33-carat, D-color, VVS1-clarity, type IIa diamond pendant with a high valuation of CHF 3 million ($3.3 million). A pear-shaped, 141.22-carat, fancy-brown-yellow diamond set in a diamond necklace is also on offer, carrying a high estimate of CHF 2.8 million ($3.1 million).

Meanwhile, a ring featuring a 47-carat, cushion-shaped old mine Colombian emerald surrounded by diamonds will go under the hammer. The jewel, which is from an important private collection, carries a high presale estimate of CHF 1.6 million ($1.7 million).

Christie’s will also sell a rectangular cut-cornered, 8.06-carat, fancy-purplish-pink, VVS2-clarity diamond ring bracketed by tapered baguette-cut diamonds. The piece, created by Boucheron, has a high valuation of CHF 1.5 million ($1.6 million).

Christie’s will preview the items from May 8. The sale will also feature an online component, which will be open for bidding between April 29 and May 10.

Source: DCLA

Sunday 25 April 2021

Company Buys 50,000 Diamonds for World-First Tradable Coins

 


The company behind diamond “coins” for investors will embark on the automated purchase of about 50,000 gems on Tuesday.

The coins will be the world’s first regulator-approved, exchange-traded, fungible diamond commodity offering. 


New York-based Diamond Standard is buying inventory to produce the first batch of 5,000 diamond standard coins, each containing “a set of certified natural diamonds with identical geological scarcity” weighing around 4.5 carats all with the exact value of $5,000.


The diamonds will be assembled into clear plastic coins containing a wireless blockchain token by the International Gemological Institute (IGI).
They will then be traded as a commodity and the price will fluctuate. Subsequent coins will replicate the rarity of the benchmark set. 


“We buy sight unseen,” said CEO and founder Cormac Kinney. “Our computer automatically buys the least expensive diamonds across a statistically valid sample.  

We don’t even know the price. We are literally buying the certificate.”
Diamond Standard bids electronically through its own Diamond Standard Exchange to buy a statistical samples of all qualities of natural, polished diamonds, seeking the lowest price across a wide range – D to L color, IF to SI2 clarity, VG to EX GIA cut scale, from 0.21-carats to 0.75-carats. 

Source: DCLA

Company Buys 50,000 Diamonds for World-First Tradable Coins

 


The company behind diamond “coins” for investors will embark on the automated purchase of about 50,000 gems on Tuesday.

The coins will be the world’s first regulator-approved, exchange-traded, fungible diamond commodity offering. 


New York-based Diamond Standard is buying inventory to produce the first batch of 5,000 diamond standard coins, each containing “a set of certified natural diamonds with identical geological scarcity” weighing around 4.5 carats all with the exact value of $5,000.


The diamonds will be assembled into clear plastic coins containing a wireless blockchain token by the International Gemological Institute (IGI).
They will then be traded as a commodity and the price will fluctuate. Subsequent coins will replicate the rarity of the benchmark set. 


“We buy sight unseen,” said CEO and founder Cormac Kinney. “Our computer automatically buys the least expensive diamonds across a statistically valid sample.  

We don’t even know the price. We are literally buying the certificate.”
Diamond Standard bids electronically through its own Diamond Standard Exchange to buy a statistical samples of all qualities of natural, polished diamonds, seeking the lowest price across a wide range – D to L color, IF to SI2 clarity, VG to EX GIA cut scale, from 0.21-carats to 0.75-carats. 

Source: DCLA

Thursday 22 April 2021

Gem Diamonds ramps up production in Lesotho

 


Gem Diamonds announced Thursday that the company produced 29,010 carats at its Letšeng mine in Lesotho, which is 11% more than in Q1 2020 – 26,110 carats.

The company’s revenue for the period was US$43.9 million Q1 2020 – US$47.3 million and an average price achieved for the period was US$1,630 per carat Q1 2020 – US$1,615 per carat.

The company said that 5 diamonds sold for more than US$1.0 million each, generating revenue of US$12.4 million during the period.

The group ended the period with US$26.9 million of cash on hand excluding US$8.2 million of the March tender proceeds received after the period end. During the period, Letšeng paid the remaining dividend of US$10.0 million which was declared in 2020.

CEO Clifford Elphick commented, “It is pleasing to see that carat production during the period was up some 11% on the same period in 2020 and that the average price of US$1,630 per carat was also slightly up on Q1 2020. Although the production from the mining mix was not as impressive as the second half of 2020, with fewer large diamonds recovered due to the areas accessed under the mining plan, prices achieved on a like for like basis remained strong for Letšeng’s high value diamond production.”

The company said it anticipates that the mining mix should improve over the coming months as the richer parts of the Satellite pit are accessed in accordance with the mine plan.

Gem Diamonds is a leading global diamond producer of large high value diamonds. The company owns 70% of the Letšeng mine in Lesotho and is currently in the process of selling its 100% share of the Ghaghoo mine in Botswana. The Letšeng mine is famous for the production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.

Source: DCLA

Gem Diamonds ramps up production in Lesotho

 


Gem Diamonds announced Thursday that the company produced 29,010 carats at its Letšeng mine in Lesotho, which is 11% more than in Q1 2020 – 26,110 carats.

The company’s revenue for the period was US$43.9 million Q1 2020 – US$47.3 million and an average price achieved for the period was US$1,630 per carat Q1 2020 – US$1,615 per carat.

The company said that 5 diamonds sold for more than US$1.0 million each, generating revenue of US$12.4 million during the period.

The group ended the period with US$26.9 million of cash on hand excluding US$8.2 million of the March tender proceeds received after the period end. During the period, Letšeng paid the remaining dividend of US$10.0 million which was declared in 2020.

CEO Clifford Elphick commented, “It is pleasing to see that carat production during the period was up some 11% on the same period in 2020 and that the average price of US$1,630 per carat was also slightly up on Q1 2020. Although the production from the mining mix was not as impressive as the second half of 2020, with fewer large diamonds recovered due to the areas accessed under the mining plan, prices achieved on a like for like basis remained strong for Letšeng’s high value diamond production.”

The company said it anticipates that the mining mix should improve over the coming months as the richer parts of the Satellite pit are accessed in accordance with the mine plan.

Gem Diamonds is a leading global diamond producer of large high value diamonds. The company owns 70% of the Letšeng mine in Lesotho and is currently in the process of selling its 100% share of the Ghaghoo mine in Botswana. The Letšeng mine is famous for the production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.

Source: DCLA

Tuesday 20 April 2021

Christie’s to Offer 101ct. ‘Spectacle’ Diamond

 


Christie’s will sell a 100.94 carat diamond at its upcoming Magnificent Jewels auction in Geneva, where it expects the stone to fetch up to $18 million.

The emerald cut, D color, internally flawless diamond, called the Spectacle, originated from a 207.29-carat rough Alrosa unearthed in 2016 at its Zarnitsa pipe in Yakutia, Christie’s said Monday.

Alrosa cut the stone at its polishing facility in Moscow over the course of a year and eight months, Christie’s noted. The diamond the largest ever manufactured in Russia will lead the May 12 auction.

The Spectacle is the third D-color, 100-carat-plus diamond the auction house has sold over the past 10 years. The Winston Legacy, a 101.73 carat, D flawless stone, went for $26.7 million in Geneva in 2013, and the 163.41 carat, D flawless Creation I fetched $33.7 million in 2017.

“We are fascinated to present this long awaited gem,” said Alrosa CEO Sergey Ivanov. “A part of our The Spectacle Collection, bearing the same name, this exceptional 100.94 carat diamond displays a breathtaking performance, which is a natural wonder revealed by human hand. Astonishing size, combined with impeccable color and quality, characteristics and flawless provenance guarantees, make the Spectacle a unique occurrence.”

Source: DCLA

Petra Sales Up, Prices Down

Petra Diamonds Operations Petra Diamonds reported increased sales for FY 2024, despite weak market conditions. The UK based miner said it ha...