20-Carat ‘Okavango Blue’ Diamond Goes on Display

The public can now feast their eyes on a big blue diamond thanks to New York’s American Museum of Natural History.  The museum opened an exhibition Tuesday showcasing the “Okavango Blue,” a 20.46-carat oval-cut fancy deep blue diamond on loan from Okavango Diamond Company, which is wholly owned by the government of Botswana. 

It has been given a VVS1 clarity grade from GIA.  The diamond came from Botswana’s Orapa mine and is the largest of its kind found in the country to date.  The Okavango Blue was named after Botswana’s Okavango Delta, a UNESCO World Heritage Site of global importance for biological conservation and diversity.  It’s the first time the diamond is on view to the public and sits at the center of a larger presentation about diamonds from Botswana, exploring industrial uses for diamonds and how Botswana runs its diamond industry as well as educating about the different characteristics of diamonds like size, shape, color, and quality.  Botswana is the second-largest producer of natural diamonds in the world, behind Russia.   Previous

The Okavango Blue Diamond, pictured here in the center display

Next “Our natural diamond resources are managed responsibly in a manner that puts the people of Botswana first,” said Okavango Diamond Company Managing Director Mmetla Masire. “There is a strong sense of local pride knowing that these diamonds are improving the lives of Batswana, with profits directly reinvested in education, infrastructure, and public health. “We are so pleased to share with the world the larger story of the diamond industry of Botswana. The Okavango Blue is not just an ordinary 3-billion-year-old polished carbon element, but rather a physical embodiment of the passing of time, a fragment of eternity. Our diamonds tell the rich history and unique journey of Botswana’s development.” The exhibition sits in the Melissa and Keith Meister Gallery in the museum’s new Allison and Roberto Mignone Halls of Gems and Minerals, which reopened in June after a major renovation.   The Okavango Blue and its corresponding Botswana diamonds exhibition will run for six months, AMNH confirmed. 

Source: DCLA

20-Carat ‘Okavango Blue’ Diamond Goes on Display

The public can now feast their eyes on a big blue diamond thanks to New York’s American Museum of Natural History.  The museum opened an exhibition Tuesday showcasing the “Okavango Blue,” a 20.46-carat oval-cut fancy deep blue diamond on loan from Okavango Diamond Company, which is wholly owned by the government of Botswana. 

It has been given a VVS1 clarity grade from GIA.  The diamond came from Botswana’s Orapa mine and is the largest of its kind found in the country to date.  The Okavango Blue was named after Botswana’s Okavango Delta, a UNESCO World Heritage Site of global importance for biological conservation and diversity.  It’s the first time the diamond is on view to the public and sits at the center of a larger presentation about diamonds from Botswana, exploring industrial uses for diamonds and how Botswana runs its diamond industry as well as educating about the different characteristics of diamonds like size, shape, color, and quality.  Botswana is the second-largest producer of natural diamonds in the world, behind Russia.   Previous

The Okavango Blue Diamond, pictured here in the center display

Next “Our natural diamond resources are managed responsibly in a manner that puts the people of Botswana first,” said Okavango Diamond Company Managing Director Mmetla Masire. “There is a strong sense of local pride knowing that these diamonds are improving the lives of Batswana, with profits directly reinvested in education, infrastructure, and public health. “We are so pleased to share with the world the larger story of the diamond industry of Botswana. The Okavango Blue is not just an ordinary 3-billion-year-old polished carbon element, but rather a physical embodiment of the passing of time, a fragment of eternity. Our diamonds tell the rich history and unique journey of Botswana’s development.” The exhibition sits in the Melissa and Keith Meister Gallery in the museum’s new Allison and Roberto Mignone Halls of Gems and Minerals, which reopened in June after a major renovation.   The Okavango Blue and its corresponding Botswana diamonds exhibition will run for six months, AMNH confirmed. 

Source: DCLA

Marie Antoinette Diamonds Shatter Estimate

Marie Antoinette Diamond Bracelet

Two diamond bracelets belonging to Marie Antoinette more than doubled their high estimate at a recent Christie’s auction in Geneva.

The set, made by Boehmer in 1776 and passed down through Marie Antoinette’s family for 250 years, fetched $8.2 million at Tuesday’s Magnificent Jewels sale, Christie’s said. That figure is the second-highest price for a jewel owned by the French queen and the highest price ever garnered for one of her diamond pieces. In 2018, Sotheby’s sold a natural-pearl and diamond pendant belonging to Marie Antoinette for $36.2 million against its $2 million high estimate.

In total, the November 9 auction raked in $59 million, with 11 lots fetching more than $1 million.

Other notable items sold at the auction include a pear brilliant-cut, 55.50-carat, D-color, potentially internally flawless diamond, which went for $5.3 million, or $95,700 per carat, at the high end of its estimate. A cushion-shaped Burmese ruby and diamond brooch by Van Cleef & Arpels brought in $4.6 million at the auction, smashing its CHF 600,000 ($656,756) upper valuation.

An oval brilliant-cut, 43.19-carat, D-color, internally flawless diamond ring garnered $3.6 million, representing $83,000 per carat — within estimates. A rectangular-cut, 42.98-carat, fancy-vivid-yellow diamond fetched $3.1 million, in the middle of its presale valuation, while a fancy-light-pink and colorless diamond brooch by Harry Winston hammered for $2.3 million, just over its lower estimate.

However, a ring featuring a heart modified brilliant-cut, 6.75-carat, fancy-vivid-purple-pink, SI1-clarity diamond failed to find a buyer. The piece was estimated to bring in up to $10.9 million at the auction. A ruby bangle by Cartier, the first anniversary gift Wallis SImpson, the Duchess of Windsor, received from her husband, also remained unsold. That piece had a high valuation of $2.2 million. 

In total, Christie’s sold 93% of items on offer, with bidders hailing from 32 countries.

“A very dynamic saleroom, coupled with strong online and telephone bids from around the world, resulted in lively bidding and a very high sell-through rate,” said Rahul Kadakia, international head of jewelry at Christie’s. “Marie Antoinette’s diamonds captured the world’s attention and achieved a fitting result for such a magnificent royal jewel.”

Source: DCLA

Marie Antoinette Diamonds Shatter Estimate

Marie Antoinette Diamond Bracelet

Two diamond bracelets belonging to Marie Antoinette more than doubled their high estimate at a recent Christie’s auction in Geneva.

The set, made by Boehmer in 1776 and passed down through Marie Antoinette’s family for 250 years, fetched $8.2 million at Tuesday’s Magnificent Jewels sale, Christie’s said. That figure is the second-highest price for a jewel owned by the French queen and the highest price ever garnered for one of her diamond pieces. In 2018, Sotheby’s sold a natural-pearl and diamond pendant belonging to Marie Antoinette for $36.2 million against its $2 million high estimate.

In total, the November 9 auction raked in $59 million, with 11 lots fetching more than $1 million.

Other notable items sold at the auction include a pear brilliant-cut, 55.50-carat, D-color, potentially internally flawless diamond, which went for $5.3 million, or $95,700 per carat, at the high end of its estimate. A cushion-shaped Burmese ruby and diamond brooch by Van Cleef & Arpels brought in $4.6 million at the auction, smashing its CHF 600,000 ($656,756) upper valuation.

An oval brilliant-cut, 43.19-carat, D-color, internally flawless diamond ring garnered $3.6 million, representing $83,000 per carat — within estimates. A rectangular-cut, 42.98-carat, fancy-vivid-yellow diamond fetched $3.1 million, in the middle of its presale valuation, while a fancy-light-pink and colorless diamond brooch by Harry Winston hammered for $2.3 million, just over its lower estimate.

However, a ring featuring a heart modified brilliant-cut, 6.75-carat, fancy-vivid-purple-pink, SI1-clarity diamond failed to find a buyer. The piece was estimated to bring in up to $10.9 million at the auction. A ruby bangle by Cartier, the first anniversary gift Wallis SImpson, the Duchess of Windsor, received from her husband, also remained unsold. That piece had a high valuation of $2.2 million. 

In total, Christie’s sold 93% of items on offer, with bidders hailing from 32 countries.

“A very dynamic saleroom, coupled with strong online and telephone bids from around the world, resulted in lively bidding and a very high sell-through rate,” said Rahul Kadakia, international head of jewelry at Christie’s. “Marie Antoinette’s diamonds captured the world’s attention and achieved a fitting result for such a magnificent royal jewel.”

Source: DCLA

India Draws Up Rules to Prevent Certificate Fraud

                            

Industry leaders in India have published draft rules aimed at stopping members from selling diamonds with false grading reports.

The new Diamond Charter calls for tight measures to prevent the misuse of certificates. It also requires companies to take action to stem the circulation of grading reports that are not attached to a stone.

The document, which the Gem & Jewellery Export Promotion Council (GJEPC) posted on its website last week, mandates ethical conduct and grants powers to punish those who misbehave. It is currently at the consultation stage, and could go into effect next month, GJEPC executive director Sabyasachi Ray told Rapaport News Monday.

The draft calls for participation by the Bharat Diamond Bourse (BDB), the Surat Diamond Bourse (SDB) and the Mumbai Diamond Merchants’ Association (MDMA), as well as the Gemological Institute of America (GIA), the International Gemological Institute (IGI), HRD Antwerp, Gemological Science International (GSI) and the Gemmological Institute of India (GII). Those organizations will also set up a committee to enforce the rules among members, it says.

The move follows increased demand for grading and a string of fraud cases involving natural stones carrying reports pertaining to lower-quality or synthetic goods.

“[Since] lab-grown diamonds came into the market, above [0.30 carats], no natural diamond is sold without a certification,” Ray explained. “This [underpins] the value of the diamond.”

The rules require grading institutions to give each diamond a unique identification number and a corresponding laser inscription when they receive it for certification, and to keep an accessible online archive of reports. They also compel labs to offer free verification services at major trading centers and maintain records of know-your-customer (KYC) documents.

Meanwhile, bourses must remind their members that trading of a certificate without the sale of a diamond is illegal, according to the charter.

The guidelines also govern what happens if a seller has multiple grading reports from different labs for the same stone and only wishes to give the buyer one of them. In this case, the seller should return the remaining certificates to the lab or destroy them within 30 days so misuse of the document is impossible, the charter continues.

It also calls on diamond buyers to verify the certificate’s authenticity using the relevant lab’s online database.

The boards of the BDB and the GJEPC have approved the charter, with members of exchanges and the general public now able to comment on the draft before November 16, Ray said. Depending on feedback, implementation could happen by December 1, he added.

“Our understanding is that the charter is in draft; we look forward to learning more about it,” a GIA spokesperson said. “For many years, GIA has supported the efforts of trade bodies, including the GJEPC, in addressing issues of importance to the trade and to advance consumer protections.”

While grading fraud has been an issue for years, the phenomenon has become especially common since the rise of lab-grown diamonds.

In August, police in India discovered a scam in which people had sold low-quality diamonds bearing counterfeit certificates, a number of them involving forged GIA report numbers. Some of the stones were lab-grown but carried natural-diamond reports.

In May, the GIA reported a rise in submissions of lab-grown diamonds with counterfeit inscriptions.

Clarification, November 9, 2021: This article has been updated to clarify that not all the named organizations have signed up to the charter, which is still in a draft stage. A quote from the GIA has also been added.

Source: DCLA

India Draws Up Rules to Prevent Certificate Fraud

                            

Industry leaders in India have published draft rules aimed at stopping members from selling diamonds with false grading reports.

The new Diamond Charter calls for tight measures to prevent the misuse of certificates. It also requires companies to take action to stem the circulation of grading reports that are not attached to a stone.

The document, which the Gem & Jewellery Export Promotion Council (GJEPC) posted on its website last week, mandates ethical conduct and grants powers to punish those who misbehave. It is currently at the consultation stage, and could go into effect next month, GJEPC executive director Sabyasachi Ray told Rapaport News Monday.

The draft calls for participation by the Bharat Diamond Bourse (BDB), the Surat Diamond Bourse (SDB) and the Mumbai Diamond Merchants’ Association (MDMA), as well as the Gemological Institute of America (GIA), the International Gemological Institute (IGI), HRD Antwerp, Gemological Science International (GSI) and the Gemmological Institute of India (GII). Those organizations will also set up a committee to enforce the rules among members, it says.

The move follows increased demand for grading and a string of fraud cases involving natural stones carrying reports pertaining to lower-quality or synthetic goods.

“[Since] lab-grown diamonds came into the market, above [0.30 carats], no natural diamond is sold without a certification,” Ray explained. “This [underpins] the value of the diamond.”

The rules require grading institutions to give each diamond a unique identification number and a corresponding laser inscription when they receive it for certification, and to keep an accessible online archive of reports. They also compel labs to offer free verification services at major trading centers and maintain records of know-your-customer (KYC) documents.

Meanwhile, bourses must remind their members that trading of a certificate without the sale of a diamond is illegal, according to the charter.

The guidelines also govern what happens if a seller has multiple grading reports from different labs for the same stone and only wishes to give the buyer one of them. In this case, the seller should return the remaining certificates to the lab or destroy them within 30 days so misuse of the document is impossible, the charter continues.

It also calls on diamond buyers to verify the certificate’s authenticity using the relevant lab’s online database.

The boards of the BDB and the GJEPC have approved the charter, with members of exchanges and the general public now able to comment on the draft before November 16, Ray said. Depending on feedback, implementation could happen by December 1, he added.

“Our understanding is that the charter is in draft; we look forward to learning more about it,” a GIA spokesperson said. “For many years, GIA has supported the efforts of trade bodies, including the GJEPC, in addressing issues of importance to the trade and to advance consumer protections.”

While grading fraud has been an issue for years, the phenomenon has become especially common since the rise of lab-grown diamonds.

In August, police in India discovered a scam in which people had sold low-quality diamonds bearing counterfeit certificates, a number of them involving forged GIA report numbers. Some of the stones were lab-grown but carried natural-diamond reports.

In May, the GIA reported a rise in submissions of lab-grown diamonds with counterfeit inscriptions.

Clarification, November 9, 2021: This article has been updated to clarify that not all the named organizations have signed up to the charter, which is still in a draft stage. A quote from the GIA has also been added.

Source: DCLA

Portuguese UN peacekeepers accused of helping to smuggle diamonds, gold and drugs out of Central African Republic

       The Central African Republic has hosted UN                                peacekeepers for years

A “handful” of Portuguese peacekeepers may have been involved in smuggling gold, diamonds and drugs out of the Central African Republic (CAR).

The soldiers, part of the United Nations peacekeeping force in the country, are alleged to have been part of a crime ring that used military planes to transport the illicit goods to Portugal, the office of the Portuguese Armed Forces Chief of Staff said in a statement.

More than 300 inspectors raided nearly 100 properties in Portugal as part of the investigation, police said on Monday.

Officers said the “criminal network” had international links and 10 people have been arrested so far – some of them ex-military. They are likely to appear in court this week.

The Portuguese military said officials became aware of the alleged crime ring in December 2019, along with suspicions that some of its soldiers may have been used as couriers.

More stringent checks have been put in place for soldiers returning to Portugal after peacekeeping missions.

Supporters of a presidential candidate in CAR ride on a flatbed lorry, in an incident unrelated to the crash
At least 78 people killed as truck flips in the Central African Republic In a statement, military officials said: “The armed forces totally repudiate these behaviors which contradict the values ​​of the military institution.”

Portugal’s defence minister Joao Gomes Cravinho said: “Everything suggests that these were activities undertaken on their own initiative by a handful of soldiers and not something systemic.”

Hundreds of Portuguese soldiers have been deployed in the CAR over the past few years, as the country struggles with violence that worsened after a coalition of rebels seized power in 2013.

It is rich in gold and diamonds but it is also one of the poorest countries in the world.

Source: DCLA