Tuesday, June 12, 2012

Diamonds Sparkle at Christie's Opening Luxury Week Auction


A 22.46-carat rectangular-cut E-color diamond ring by David Webb sold above its estimate for $1.87 million, or $83,500 per carat, at Christie’s New York Important Jewels auction Tuesday. It was one of more than a dozen top-quality diamonds featured in the sale.


A 14.82-carat, pear-shaped E color VVS2 diamond also sold above its estimate for nearly $1.6 million, or $107,500 per carat.

A 15.65-carat circular-cut F color VS1 diamond sold above estimate at more than $1.5 million, or $98,300 per carat.

“Diamonds have been the flavor of the season, with top prices achieved in Geneva, Hong Kong and New York through spring 2012 as seasoned collectors and new economies went head to head for the best,” said Rahul Kadakia, Head of Jewelry, Christie’s Americas.

The jewelry sale at Chrsitie’s New York marked the first of four consecutive days of sales devoted to jewelry, watches, wine and 20th Century design that will be held daily until June 15. Known as “Luxury Week,” more than 1,000 items will be offered with a combined week-long total expected to exceed $23 million.

-http://www.forbes.com/

Monday, June 11, 2012

DE BEERS CEO SEEKS NEW DIAMOND DISCOVERY


The head of the De Beers diamond company says that he aspires to find a new diamond deposit of very large proportions, something that has not been done in the diamond industry for fifteen years. Mining Weekly reports that De Beers chief executive officer Phillippe Mellier, at the helm of the company for just under a year, dreams of finding another Jwaneng – a reference to the world's richest diamond mine by value, located in the Kalahari Desert in Botswana and co-owned by De Beers.

Mellier is instead confronted with a decidedly different set of circumstances: existing alluvial diamond mines that are reaching decreasing scales of efficiency and which must receive large infusions of cash in order to construct the appropriate infrastructure if diamond mining is to continue below ground.

One such diamond mine is the Venetia project, South Africa's biggest diamond producer, located in the Limpopo province. The mine, expected to produce until 2021, would need a cash investment of about $2.1 billion in order for De Beers to unearth its underground diamonds.

http://www.israelidiamond.co.il/

Sunday, June 10, 2012

Hasenfeld-Stein Gets FireMark Princess Cut Patent


DTC Sightholder Hasenfeld-Stein received a U.S. patent for their FireMark Princess Cut Diamond.

U.S. Patent No. 8,181,482 protects FireMark’s characteristics that result in its brilliance and light return of 98 percent.

“We’ve always said there is no other Princess diamond in the world like FireMark, and now, with the newly issued Patent, it’s somewhat humbling to think there won’t be another like it for a very long time to come,” said Vice President Hertz Hasenfeld.

FireMark is the first Princess diamond in the world that rivals an Ideal Round in brilliance and light return, the company claims.

“After years of trial and error, we determined that the combination of a higher crown, smaller table and shallower depth dramatically impacts the diamond’s light performance,” explained Hasenfeld. A FireMark’s crown averages between 9.5 and 13.5 percent; the table is a maximum 68 percent (averaging 65 percent), and the depth is a maximum 70.9 percent (averaging 68 percent).

Other characteristics that distinguish a FireMark are:
GIA “Excellent” in both polish and symmetry
GCAL “Excellent” in light performance
Minimum 95 percent light return (average 98 percent)
Maximum length and width ratio of 1.025
Chamfered corners that are invisible to the naked eye

Hasenfeld also expressed how important the patent is to the growing number of exclusive FireMark retail jewelers. “It protects our exclusive retailers against competitors making false claims, and it makes a strong statement that FireMark retailers are selling real value.”

FireMark Princess Cut Diamonds are available to independent retailers only. They are not available online or sold in major U.S. chains and mass merchandisers.

http://www.idexonline.com/

Thursday, June 7, 2012

Miley Cyrus and Liam Hemsworth engaged: What does the ring look like?


Miley Cyrus and Liam Hemsworth are officially engaged. So how did the "Hunger Games" actor choose the ring?

Neil Lane told People that Hemsworth wanted "something unusual," that was also "romantic and beautiful."

What he ended up purchasing was a 3.5-carat cushion-cut diamond ring. The band was handcrafted out of 18-karat gold that contains diamond floral motifs. The center stone dates back to the late 19th century, according to the jeweler.

"It was hand-cut around 1880 or 1890 and it's unique and in its original form," Lane told People. "At that time, no two diamonds were alike, as they were all hand-cut, so it's fascinating to look at because it hasn't been re-cut to look contemporary over the years. I find that really romantic."

It apparently worked. the 19-year-old "Hannah Montana" star said yes after Hemsworth got down on one knee last week.

-CBSnews.com

Wednesday, June 6, 2012

100-Million-Year-Old Oyster Could House World’s Biggest Pearl




How would you like to have a pearl the size of a golf ball? That is how big the pearl inside a 100-million-year-old oyster found near the Solient, a strait separating mainland England from the Isle of Wight, could be.

The Huffington Post notes that the pearl, while huge, and likely one of the oldest on Earth, is unlikely to top the world’s largest, the clam-produced Pearl of Allah, which weighs an astonishing 14 pounds, and has an estimated worth of $60 million.

The gigantic oyster fossil was accidentally trawled up by fisherman, and is now housed at the Blue Reef Aquarium in Portsmouth, England, where it will soon undergo an MRI to see if it contains a giant pearl.

The Daily Mail reports that the gigantic fossil is ten times bigger than a regular oyster shell, measuring in (after the mud was washed off) at seven inches wide and three inches thick. A spokesman for the Blue Reef Aquarium told The Daily Mail that:

“It was discovered in the nets of a fishing boat which was dredging here in the Solent. When the fishermen came back to port they thought it was real, but when they picked it up, cleaned it, and had a closer look they could tell it was a fossil. It had completely turned to stone.”

The spokesman went on to explain how the Aquarium came to possess the fossil, saying:

“A member of the public called and informed us it was on display at a local fishmongers so we called them and they gave it to us to have in the aquarium. Oysters can be aged by annual growth rings on their shells and we have counted more than 200 rings on this oyster making it an extremely long-lived individual.”

They explained as well that there is only “a million-to-one chance” that the oyster fossil will contain anything at all, but based on the shell’s dimensions, the potential pearl will be about the size of a golf ball. The Daily Mail reports that they will scan the giant oyster fossil to see if it is concealing an ancient pearl.


-http://www.inquisitr.com

Monday, June 4, 2012

Why the Queen's Diamonds Are Truly Remarkable




2012 marks the Diamond Jubilee of the coronation of Queen Elizabeth II of England. The Imperial State Crown she wore after her coronation and the Soverign's Sceptre with cross that she held contain two of the most remarkable gems in the world. Both were cut from the Cullinan diamond, reportedly the largest diamond ever found (3106 carats/0.62 kg). Cullinan I or Star of Africa (530.2 carats) is the largest of the nine gems cut from the Cullinan and it is now part of the Soverign's Sceptre with cross. The Cullinan II, or Lesser Star of Africa (317.4 carats), is mounted on the Imperial State Crown.

The Imperial State Crown is 31.5cm high, weighs 0.91kg and is set with over 3,000 precious stones, including the 317 carat Cullinan II diamond. © Crown copyright.

Dating from 1661, the Sovereign's Sceptre with Cross signifies temporal power. The sceptre is 92.2cm long. Precious stones include the 530 carat Cullinan I diamond.

These exceptional gems are samples of diamond, a mineral made entirely of carbon, the sixth element on the periodic chart. The crystal structure is relatively simple; each carbon atom chemically bonds to four neighboring carbon atoms using very strong covalent bonds (solid lines) that place the carbon atoms just 1.54 angstroms apart. This continuous and systematic three-dimensional framework of carbon atoms forms a cubic building block (dotted lines). The external shapes of diamond crystals reflect the three-dimensional symmetry of this framework of carbon atoms. Natural diamonds typically form cubes, octahedrons, or rhombic dodecahedrons. An octahedron is shown here (photo from U.S. Geological Survey). The strong chemical bonds account for diamond's distinctive physical properties including hardness, brilliance, fire and ice.


Diamond is the hardest known material. This hardness, coupled with its great strength, makes it extremely valuable as an industrial mineral. It is extensively used to cut, grind, and polish other materials. The saw blades used to cut bricks, concrete, rock, and many other materials are studded with small diamonds. Grinding wheels impregnated with numerous fine diamonds, and slurries and pastes containing fine diamond particles, are used to produce a mirror-like finish on many products. A notable example is the semiconductor industry, where diamond saws and abrasives are used to prepare silicon wafers that serve as the substrate for myriad semiconductors that are an integral part of our lives. Nearly 900 metric tons of diamonds -- worth $1.65 to $2.5 billion -- are used worldwide each year for industrial purposes.

Nearly octahedral diamond crystal in matrix. Source: United States Geological Survey.
Brilliance and fire are important for diamond's role as a gemstone. Because of its high density, diamond has a very high index of refraction, which is a measure of how much the path of light can be bent when it enters the diamond. One consequence of the high index of refraction is that the gem has a brilliant luster. Diamond also has very high dispersion, which means that light at the violet end of the spectrum is bent significantly more than light at the red end of the spectrum. The diagram below shows how this works for light containing the full spectrum of colors that enters a diamond gem from above. The violet light is bent more on entering the diamond than the red light, so after reflecting twice from the internal surfaces of the gem, the violet and red light are significantly separated when they exit the top of the gem. Gems are cut so that light that enters from all directions is reflected multiple times from inside surfacesbefore exiting and reaching the viewer's eyes. The long paths allow the different parts of the visible spectrum to be separated so that the individual colors can be seen as the "fire" that makes diamonds so desirable.

Diamonds are sometimes referred to as "ice" because they seem cold to the touch. The diamonds are not actually colder than their surroundings. The perception of cold is a consequence of the strong covalent bonds that give diamond unsurpassed thermal conductivity at room temperature. It conducts heat four to seven times faster than metals such as gold, silver, or copper. When a diamond at room temperature is touched to the lip, which is quite sensitive, body heat is conducted into the diamond far faster than heat is conducted into a gold ring that is touched to the lip. Our brain interprets the rapid loss of heat to the diamond as though the diamond is colder than the gold ring, even though they are the same temperature. This property is just an interesting curiosity as far as diamond's use as a gem is concerned, but it has important industrial applications. For example, diamonds make superior heat sinks to control the temperature of microprocessors in computers and other electronics, and its use for this purpose is increasing as costs are reduced.

The large majority of natural diamonds are from volcanic rocks, called kimberlite and lamproite, that are derived from 150 to 200 km below the Earth's surface. The extremely high pressures found at that depth are required to allow diamond to crystallize rather than become graphite, the low-pressure form of carbon. Diamonds are mined from these volcanic rocks, and from sedimentary deposits derived from them, on every continent except for Europe and Antarctica. In 2009, 129 million carats of diamonds were mined worldwide, of which 57 percent were gem quality. The remainder were used for industrial purposes. The price for typical gems is between $800 and $12,000 or more per carat depending on size and quality. Russia is the largest single producer, with about 25 percent of the total.

Commercial production of synthetic diamonds began nearly 60 years ago. Because synthetic diamonds can be produced in large quantities with very tight control over quality, almost 99 percent of the nearly 900 metric tons of diamonds used for industrial purposes are synthetic. While gem-quality diamonds can be synthesized, they command far lower prices than similar natural samples. Most synthetic diamonds are made using very high temperatures and pressures, and sizes are smaller than a few carats. A relatively new process called chemical vapor deposition operates at low pressures and holds the promise of being able to produce large pure samples. This should enable an expanded range of technological applications.

As Oxford University Press celebrates the Diamond Jubilee of Queen Elizabeth II, it is worth noting just how remarkable diamonds, for which the jubilee is named, really are. They make lovely gems that symbolize the strength and resolve of the British monarchy. But perhaps more importantly, their unsurpassed physical properties make them a critical industrial commodity that supports the commerce and industry upon which modern society and culture depend.

Friday, June 1, 2012

London's Graff Diamonds puts Hong Kong IPO on hold


London jeweler Graff Diamonds is putting its $1.5 billion Hong Kong initial public offering on hold because of the steep sell-off in global stock markets.

In a brief statement Thursday, Graff blamed adverse market conditions for the decision to postpone the IPO in the southern Chinese financial center.

"Consistently declining stock markets proved to be a significant barrier to executing the transaction at this time," the company said.

The jeweler, which gets half of its revenue from less than two dozen customers, would have been the latest in a line of foreign brands to go public in Hong Kong. Italian fashion label Prada SpA and luggage maker Samsonite International SA held IPOs last year while U.S. luxury handbag maker Coach Inc. launched a secondary listing.

Foreign companies are seeking to cash in on rising investor interest in China, the world's second biggest economy, and to raise their brand profiles with the country's rapidly expanding pool of newly wealthy consumers.

In a prospectus filed earlier with the Hong Kong stock exchange, Graff outlined plans for a strategic expansion in Asia, focusing on China. Plans included opening shops this year in Hong Kong, Macau, Shanghai and Hangzhou as well as Tokyo. The company also intends to open five more stores in 2013, most of them in Asia.

The company said that demand for diamond engagement rings is rising sharply in China, where ownership levels are still far from rates in the U.S. and Japan.

Graff's decision to yank its IPO appears to have been made overnight as markets in the U.S. and Europe tumbled on intensifying fears over the European sovereign debt crisis and China's slowing economy. Hong Kong's benchmark Hang Seng Index ended 1.9 percent lower Wednesday and is down nearly 15 percent in the past three months.

Hong Kong newspapers still carried ads on Thursday from the company detailing plans to sell up to 311.2 million shares for as much as 37 Hong Kong dollars ($4.76) a share. That means the deal would have raised up to $1.5 billion.

Founder Laurence Graff, who opened his first two stores in London in 1962, has earned a reputation for dealing in large stones. In 2010, Graff paid $46 million at a Swiss auction for a 24.78-carat "fancy intense pink" diamond, which he immediately named "The Graff Pink."

Last year, the company earned nearly half its $755.6 million revenue from just 20 customers.

-http://www.businessweek.com/ap/2012-05/D9V3GBO80.htm