4.83 ct Fancy Blue Diamond Sells for $8.8 million USD

 4.83 ct Fancy Blue Diamond Sells for $8.8 million USD

A 4.83 carat fancy vivid blue diamond ring sold for $8.8m at Christie’s Hong Kong as the Magnificent Jewels sale brought in a total of almost $60m.

The brilliant cut IF Type IIb gem (pictured) was surrounded by fancy-cut diamonds, in a gold setting. It sold between the low and high estimates of $7m to $10.2m.

The blue diamond led the sale, followed by two items which both sold for above their high estimates.

An octagonal step-cut 21.38 carat sapphire in a platinum ring set with tapered baguette cut diamonds sold for $4.5m (high estimate $2.3m).

And an 8.92 carats fancy vivid yellow orange pear modified brilliant cut diamond, in a platinum and gold ring, with pear brilliant-cut diamonds of 1.12 and 1.11 carat, sold for $4m (high estimate $3.8m).

Source: DCLA

Renowned Diamond Cutter Gabriel ‘Gabi’ Tolkowsky Dies

Sir Gabriel “Gabi” Tolkowsky, one of the world’s most revered diamond cutters, has died at 84, friends and family wrote on social media on Monday.

Born in Tel Aviv in 1939, Tolkowsky was from a family steeped in the diamond industry. He learned the trade from father, Jean, who had a diamond-polishing factory in Israel — an education that would set him up for a career manufacturing some of the world’s most famous diamonds.

“Every day after work, [my father] would come home from his workshop with people from all over the world who had come to learn about diamond polishing and sit in the one big living-cum-bedroom-cum-dining room we had,” Tolkowsky said in a 2008 interview with Singapore’s The Straits Times.

Jean Tolkowsky and his cousin had moved from Antwerp to Palestine — now Israel — in 1932, Gabriel Tolkowsky told Martin Rapaport in 2000. Jean became the first person to install a polishing operation in the country.

“To polish diamonds, he had to use a bicycle to turn the polishing wheel, because there was no electricity,” he said. “Many of the first diamond people in Israel were my father’s pupils. I learned my trade from him, and I am proud to have had such a rare opportunity.”

From 1975 until 1995, Gabriel Tolkowsky worked for De Beers’ now-defunct manufacturing unit, Diatrada. He was famous for cutting the 273.85-carat Centenary Diamond, which De Beers unveiled in 1991 to mark 100 years since the company was founded.

For months, he “just studied it,” Tolkowsky said in the 2000 interview. “I looked at it during the day; I looked at it at night. I looked at it during the day, and at night it looked at me! I couldn’t sleep, because I was looking for answers.”

After De Beers announced he would polish the stone, he and his wife had to hide from news reporters and ended up staying in an unlisted room in the basement of a remote hotel in Cape Town, according to The Straits Times. He subsequently spent three years cutting the diamond in a high-security underground facility. The polished piece later went on display at the Tower of London. He also cut the 545.67-carat Golden Jubilee Diamond for De Beers.

The Centenary Diamond. (De Beers)
“He always believed that diamonds are not a commodity but rather a unique way of expressing emotions,” said Marc-André Zucker, a board member at Antwerp’s rough-diamond bourse, the Antwerpsche Diamantkring. “His enthusiasm was endless — he was truly ‘romancing’ diamonds.”

Part of a well-known diamond family, he was the great-nephew of Marcel Tolkowsky, the inventor of the ideal-cut round brilliant diamond.

In 2002, he received a Knighthood Chevalier de L’ Ordre du Roi Leopold II from the Belgian government for his contribution to the diamond industry.

He was a “pioneer and a master craftsman who understood the wonder of diamonds like few other people,” said a spokesperson for De Beers. “Gabi combined artistry, expertise and passion to create some of the most beautiful and famous polished diamonds in history. He will be greatly missed, and all our thoughts are with the Tolkowsky family.”

Source: DCLA

Botswana president insists on bigger share of diamonds from De Beers venture

Botswana will not back down on demands for a bigger share of rough diamonds from its joint venture with De Beers, President Mokgweetsi Masisi said on Thursday, upping the stakes as talks for a new sales deal appear to be stalling.

Botswana and De Beers mine the precious stones through their equally owned, 54-year-old mining venture, Debswana Diamond Co. The current diamond sales deal, in place since 2011, has been extended three times since 2020 but is set to expire next month.

De Beers, a unit of Anglo American Plc, gets 75% of Debswana’s production, which was 24 million carats in 2022. The balance is sold to state-owned Okavango Diamond Company, a vehicle established in 2011 as Botswana began moves to independently sell some gems outside of the De Beers system.

Masisi, who has been Botswana’s president since 2018 and will seek re-election in next year’s elections, now wants Botswana to sell more of its diamonds outside the De Beers channel.

“Our agreement with De Beers is very restrictive to us. We signed it at a time when we didn’t know much, but now our eyes are open,” Masisi said at a community meeting in Mmadinare, 400 kilometres (248.55 miles) north-east of the capital, Gaborone.

Masisi hinted at a possible stalemate and litigation over the sales agreement.

“Even if we lose the litigation, our diamonds will remain ours and we will never give in. If I am going to lose votes because of this issue, then so be it,” said Masisi, speaking in Setswana.

Masisi has previously threatened to walk away from the talks if Botswana does not get a bigger share of Debswana’s output for marketing outside the De Beers system. The government has not publicly stated what share it seeks, but it is believed to be as high as 50%, double the current allocation.

De Beers was not immediately available to comment.

The diamond giant says Botswana receives more than 80% of returns from Debswana, after taxes and royalties are factored in. De Beers has previously expressed confidence that its five-decade partnership with Botswana will continue, on terms “that make economic and strategic sense for both parties.”

Source: DCLA

Fresh sanctions on Russian diamonds put 1 million jobs at risk

G7 countries are imposing fresh sanctions against Russia to try to further hinder its war effort in Ukraine. “If the sanctions continue, then there will be a lot of uncertainty in the employment of one million workers,” said Vipul Shah, chairman of Gem & Jewellery Export Promotion Council (GJEPC).

Source: DCLA

Ultra-rare Bulgari Laguna Blu diamond sells for $25 million

A rare,11.16-carat fancy vivid blue diamond named the “Bulgari Laguna Blu” has fetched slightly more than $25 million at a Sotheby’s Magnificent Jewels sale in Geneva.

The auction house brought the clock back to pre-pandemic times by achieving the best performance since May 2018, with total proceeds of over 76 million Swiss francs (about $85m).

Sotheby’s noted the exceptional blue diamond was put up for auction last and after a four-minute bidding battle between three telephone bidders and one bidder in the room, it eventually found a buyer on the phone.

The sale made of the Bulgari Laguna Blu the most expensive jewel ever sold in Geneva. It is also the largest blue diamond in a Bulgari jewel and the brand’s most valuable gem to ever be put up for sale.

The Bulgari Laguna Blu is a rarity three times over, as it is a blue diamond, a jewel signed by Bulgari, and an unseen and unmodified gemstone.

Bulgari’s global Ambassador, actress Priyanka Chopra, wore the Bulgari Laguna Blu this year’s Met Gala in New York.

The Italian jewelry maker set the oceanic-blue sparkler in a bespoke diamond necklace for actress Priyanka Chopra Jonas, and the stone then was removed and remounted onto a ring—similar to the house’s original 1970s design.

The diamond was initially mounted as a ring by Bulgari for a special commission by the original owner. It was sold in 1970 and it’s now part of a necklace.

Source: mining.com

Cristiano Ronaldo shows off £92k ‘Heart of CR7’ luxury watch that has 26 white diamonds

Cristiano Ronaldo was gifted a diamond-encrusted green watch worth £92,000 at the launch of his new range of timepieces.

To mark the opening of Jacob & Co’s new store in Riyadh, Saudi Arabia, the company held a launch event that was attended by Ronaldo – now plying his football trade in the country for Al-Nassr. The former Manchester United and Real Madrid striker showed off one of brand’s luxury watches.

According to the Daily Mail, the green watch Ronaldo was pictured wearing features 26 white diamonds and is worth £92,000. It also depicts his trademark ‘Siu’ celebration on the back. The watch Ronaldo showed off is named the ‘Heart of CR7 Baguette’ and is one of four watches in his collection – with the most expensive worth £119,00 ($145,000).

This is the latest in a series of endorsements Ronaldo had done through his glittering career. The Portuguese forward is estimated to have the biggest earnings in world football, with his contract at Al Nassr reportedly worth in excess $200m per year.

Source: DCLA

Tiffany’s tickled pink to be grabbing the world’s last Argyle diamonds

“This is truly once in a lifetime,” says the jeweller’s chief gemologist of the 35 sparklers acquired from the now-closed mine in the Kimberley.

Vicky Reynolds wants to take you on a date with a diamond.

Reynolds, Tiffany & Co’s chief gemologist, has had the enviable task of chaperoning the final 35 Argyle diamonds sold around the world, meeting with potential buyers and discussing exactly how these incredibly rare and exceptional gemstones will be used.

It is, she says, “the stuff my dreams are made of. This is truly once in a lifetime.”

Reynolds has worked with New York-based Tiffany & Co since 1987 – almost as long as the Argyle diamond mine, owned by Rio Tinto, operated in Western Australia’s East Kimberley region (it opened in 1983). When the mine closed in 2020 due to finite resources, the final annual tender – ordinarily a highly anticipated and prestigious event on the gemstone calendar – was considered the hottest ticket going.

The Argyle mine produced 90 per cent of the world’s pink diamonds, and each year, only 50 to 60 were ever offered in an invitation-only tender process. So when Rio Tinto rang Reynolds after the tender, to offer Tiffany and Co a further 35 diamonds noted for their vivid pink and purple colour, she jumped at the chance.

Source: DCLA