Pink Diamond Ring Fetches $7.7M at Hong Kong Auction

A 6.43-ct. fancy pink vivid diamond and diamond ring by Van Cleef & Arpels was sold for $7.7 million Thursday by Sotheby’s Hong Kong. It was the top prize in the fall jewelry and jadeite auction that produced a record sale of $54 million for the auction house in another display of China’s growing wealth.

The pink center stone is flanked on each side by a cluster of pear shaped and brilliant cut diamonds, embellished to the shoulders with brilliant cut diamonds, weighing approximately 1.60 cts. The gems are mounted in platinum and 18k white gold.

A pair of fancy vivid yellow diamond and diamond pendent earrings sold for nearly $5 million. The earrings are suspended on an emerald-cut fancy vivid yellow diamond weighing approximately 21 cts and surmounted by an oval diamond each weighing 2.02 cts., to stylized open-work frames set with brilliant-cut diamonds, mounted in platinum.

      In addition, a matched pair of unmounted brilliant cut diamonds, each weighing 10.88 cts., was sold for $4.8 million, a world-record price per carat for any round white diamond.

Sotheby’s Hong Kong Magnificent Jewels and Jadeite Autumn Sale 2010 held at the new wing of Hong Kong Convention and Exhibition Centre sold 302 lots out of the 390 lots offered (77.4 percent).

Gem Diamonds, Tiffany Agree to 25% Price Hike for Fancy Yellow Diamonds

Ellendale mine site

Diamond mining company Gem Diamonds Ltd. said Wednesday that it has negotiated a deal with Laurelton Diamonds, Inc., for a 25 percent price increase for the exclusive assortment of rare fancy yellow diamonds from Kimberley Diamond Company’s Ellendale mine in Western Australia. This price increase will come into effect October 1 and will last through the lifespan of the mine.

Laurelton Diamonds is the diamond sourcing and polishing subsidiary of luxury retail jeweler, Tiffany & Co. Gem Diamonds is a wholly owned subsidiary of Kimberley Diamond Company NL.

Tiffany first launched its Yellow Diamond Collection in Japan in April 2010. The company then launched the collection in the U.S. market during Fashion's Night Out, held September 10, at its flagship store on New York's 5th Avenue.

“The Ellendale Mine in Australia is the world's single largest producer of rare fancy yellow diamonds,” said Clifford Elphick, Gem Diamonds CEO. “The long-term agreement with Tiffany & Co., spanning the economic life of the Ellendale mine, continues to provide a sustainable platform for Kimberley Diamonds’ mining operation. This shows the benefits of partnering with such a highly regarded brand and major player in the diamond jewelry and retail sector.”

You may have remembered that Gem Diamonds was recently in the news for unearthing a 196-ct. rough white diamond from its Letšeng mine in the South African country of Lesotho in late August.

Seized 43-Ct. Fancy Yellow Diamond Up for Online Auction

The feds, in its duty, confiscate and sell many items but this one is quite a beauty: A 43.51-ct. fancy intense yellow diamond. This internally flawless cushion modified brilliant cut stone will be available for auction September 6 – 9 at online auction site, Bid4Assets. The minimum bid is set at $900,000 and is currently on preview on the auction website.

The diamond, which measures about an inch in length, was seized in a drug sting in 2006 by the U.S. Marshals Service Northern District of Ohio. The feds had the diamond authenticated by the GIA (REPORT 15154097, June 8). However, the origin of the diamond cannot be determined.

This diamond spans 1.42 length-to-width ratio. It has a pure yellow hue with no green or orange modifying color and the color distribution is very even with no visible zoning present, according to a joint statement from USMS and Bid4Assets. “The diamond is believed to be one of the world’s most perfect and flawless canary yellow diamonds.”

The diamond belonged to Ohio businessman Paul Monea, according to court documents. Monea was convicted of money laundering and conspiracy in 2007 in U.S. District Court in Akron. He tried to sell the gem, known as the “Golden Eye,” to undercover agents posing as  brokers for a South American drug cartel.

The USMS requires that bidders submit a refundable pre-bid deposit of $180,000 prior to placing a bid. Instructions for submitting the deposit can be found on the auction listing page.

There will be a viewing held for this diamond from August 29 till September 2 in Cleveland, Ohio. Only serious, qualified buyers who have submitted a deposit may view the diamond. To request an appointment time, send an email to Inspections@bid4assets.com. Interested buyers can contact Bid4Assets with any questions by sending an email to service@Bid4Assets.com or by calling 877-427-7387.

GIA Symposium Exhibit to Feature 100-ct. Yellow Diamond

The Steinmetz “Sunrise,” a cushion-cut, 100.67-ct. fancy intense yellow diamond, will be the feature gem in an exhibit of 1,000 gems, jewelry and sculptures at the GIA Symposium 2011. The display will be a part of the international gem and jewelry conference, being held May 29-30 at Gemological Institute of America headquarters in Carlsbad, Calif. The event also commemorates the 80th anniversary of GIA, which provides gemological research, education, laboratory services, and instrument development for the worldwide gem and jewelry industry.

The diamond will be on display for three days at the GIA Museum while all of the other pieces will be on display through the fall. The work of several jewelry and gem artists and craftsmen are part of the display. Among them is Wallace Chan, who is known for his innovative designs intricate sculpting, carving and stone setting, that features titanium and vibrant colors to represent living creatures. More than 30 of Chan’s pieces will be on display. (Pictured left: Unfettered: Pink sapphire, diamond, 18k white gold and titanium by Wallace Chan. Image © GIA.) 

Also on display are 15 gemstone sculptures by Perry Brent Davis, a master carver best known for pioneering the confluence between the mineral and lapidary trades and the fine art world. The pieces represent his interpretation of art deco, abstract and surrealism

In addition, the award-winning Vega jewelry set by Robert Wan—a Tahitian cultured pearl necklace, bracelet and earrings—will also be on view. The set is made up of 111 Tahitian cultured pearls and six carats of diamonds mounted in 18k white gold. The center of the necklace features five diamonds that fluoresce under ultraviolet light to mimic the Lyra constellation, whose principal star is Vega.

If that’s not enough, the exhibit also features a 111-ct. Burmese star sapphire courtesy of Benjamin Zucker.

15-Carat Yellow Diamond Highlights Toronto Jewelry Store Exhibit

A collection of fancy yellow diamonds worth approximately $10 million will be exhibited at the Birks jewelry store on Bloor Street in Toronto from May 2 to 6. It will be the largest collection of yellow diamonds ever to be exhibited in the 133-year history of the Birks luxury jewelry chain.

A total of more than 60 diamond jewelry pieces will be on display, including a rare 15-carat internally flawless, fancy intense yellow radiant-cut diamond set in a platinum ring, with a trapezoid on each side.

“Yellow diamonds are some of the world’s most beautiful fancy color diamonds and have been the choice of royals and celebs throughout the ages,” said Jean-Christophe Bedos, president and CEO of Birks & Mayors Inc.

Birks is a manufacturer and retailer of fine jewelry in Canada. It is part of Montreal-based Birks & Mayors, a luxury jewelry retailer with 58 luxury jewelry stores in Canada and the United States. The company operates 31 stores under the Birks brand in Canada and 24 stores under the Mayors brand in Florida and Georgia, two retail locations in Calgary and Vancouver under the Brinkhaus brand, and one retail location in Orlando under the Rolex brand.