High-end jewelers are traditionally at the tail end of the diamond supply chain. Once they’re extracted, rough stones are typically acquired by specialist diamond cutters and polishers, who analyze each stone — sometimes for up to a year — to determine the ideal cut in which to shape them. Only after this process are the polished gems usually presented to high jewelry houses, who set them into glittering creations. But now a handful of houses are keen to master all stages of a stone’s journey from rough to final jewel. Last month, for example, British luxury jewelers Graff Diamonds bought the uncut Lesedi La Rona, the world’s second largest diamond, for $53 million.
“Almazy Anabara”, a subsidiary of ALROSA, recovered a large pink rough diamond weighing 27.85 carats. This is a unique discovery: by far the largest company’s pink rough diamond had a weight of about 4 carats. If the company decides to cut this stone, it could become the most expensive polished diamond in the history of ALROSA.
The uncut 404-carat stone named the “4 de Fevereiro” discovered in Angola in February 2016. The gem has been cut into a 163-carat D flawless diamond, (de Grisogono).
A Fancy Intense Blue diamond which has been held in a private collection for nearly 30 years sold for $3.6 million, smashing its $2 million high estimate, at Bonhams Fine Jewellery sale in London.
Diamantaires left the Hong Kong Jewellery & Gem Fair on Sunday relatively satisfied with trading in the loose-diamond section, as traffic increased during the five-day event.
Standard Chartered Bank thought it would be a good idea to expand a unit making loans secured by the jewels. Now it wants out.
Though the warning signs were on the wall – trust-based banking in the diamond sector seems all but dead. Three specifically named mammoth Indian diamond firms have apparently made some astonishingly brazen propositions to two of their leading lenders (ADB/KBC and Standard Chartered Bank). “We want an immediate haircut of 70% – and the remaining 30% we shall repay in a ten-year period. If you don’t take it, you won’t see any money.”
A step-cut, 16.90-carat, D-color, internally flawless diamond ring with a pre-sale estimate of $1.6 million to $2.2 million will lead Bonhams fine jewelry sale in New York on September 19.
Rio Tinto has unveiled the largest Fancy Red diamond in the history of its Argyle Pink Diamonds Tender, during a world exclusive preview in New York.
Diamond markets quiet and in vacation mode Polished inventory levels in current diamond markets sufficient to see dealers through the third quarter.