January 2013 Diamonds News
Procop’s Collaboration with Angelina Jolie – His interest and investments in Fancy Colored Diamonds
Robert Procop, the well-known gemologist, is collaborating with Angelina Jolie to create high end jewelry items. While much of the alliance is producing emeralds, sapphires and other gems, being one of the best and most knowledgeable diamond and gemstone dealers in the world is his true skill. His depth, scope of knowledge and history is impressive. His contacts range from remote mine workers in countries such as Sri Lanka and Columbia, Columbia and Sri Lanka, to the house leaders of haute joaillerie houses in London and Paris. His particular prowess and ultimate skills are buying superior, statement gemstones at less than the cost to mine them. Rarely getting involved in competitive bidding or at auctions, he works through his network to find rare gems and sell at a profit. Turning instead toward rarer and more valuable fancy colored diamonds, Procop tends to avoid buying white diamonds. His strategy?
“I only buy for value,” he said in the Beverly Hills showroom and studio. “I never buy something where I’m going to make a design. I buy it if I could make an offer competitively and it can be sold in the trade,” he state in an interview with Forbes magazine.
Procop, known for his extensive knowledge of diamonds and gems, is cued in to become the editor-in-chief for the next edition of Famous Diamonds. The book is considered by many as the most referenced and important book concerning diamonds. The De Beers’ historian and employee Lord Ian Balfour first published the magnum opus in 1968 and has continually updated the book through 2009. Procop intends to further update the text with colored diamonds, rare diamonds of the world, and on how diamonds get their unusual colors. As the shoo-in editor he explains:
“Pumpkin orange, unusual greens…diamonds that come from the Argyle mine (in Australia, famous for its pink diamonds) that are a deep violet, then they get brighter blue,” he said. “We’re going to try to come up with a rainbow of colors because people have never seen some of these.
The Mystery of Pink Diamonds’ Color Solved?
A simple question such as “Why are Pink Diamonds Pink?” has uncovered some special characteristics on how Pink Diamonds acquire their color. Actually, the scientific analysis which was published in the journal Diamonds and Related Materials, found that pink diamond color is dependent on the wavelength and intensity of light it is submitted to.
In addition, “Coloration in diamonds is due to crystalline defects in the crystal lattice, which are also known as color centers as they induce color,” stated lead author Keal Byrne. The problem is that the pink diamond does not respond similarly as the other colors in wave length and intensity testing in relation to these “defect” color centers which provide the induction of color – so in actuality the mystery has not been solved. The analysis provides guidelines for further research into the mystery of pink diamonds.
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Baby Blue’s 1st Birthday of Beyonce and Jay-Z receives $80,000 Diamond Barbie Doll
The hip hop couple Beyonce and Jay-Z celebrated their daughter Baby Blue’s first birthday by giving her a diamond embedded Barbie Doll which housed 160 diamond gems and was adorned with white gold. Quite a gift to the million dollar baby of the ostentatious and extravagant pair of music, to say the least! We can only imagine the birthdays to come.
Harry Winston to use Cash from Swatch to Purchase Diamonds
Harry Winston Diamond Corp. (HW)’s $1 billion sale of a luxury unit to Swatch Group AG (UHR) provides the cash to invest more in diamond mining, a business that last year was more than twice as profitable as jewelry. The “Jeweler to the Stars” believes the profit margin that can be accessed from the mining level will be better than at the retail level of development. Harry Winston has been looking to expand its diamond assets after BHP Billiton Ltd. (BHP) and Rio Tinto, the world’s two biggest mining companies, announced they would consider getting out of the industry. Harry Winston agreed in November to buy BHP’s 80 percent stake in the Ekati mine in northern Canada as well as its global sales and sorting operations. Buying Ekati would boost Harry Winston’s production to make it the fourth-biggest diamond miner by sales in 2013, up from seventh place, according to BMO forecasts. The company may rise to third place, behind industry leaders De Beers and OAO Alrosa, if it bought Rio Tinto’s Diavik stake, Sterck said. Harry Winston rose 4.4 percent in middle January in Toronto, the most since November, after the deal was announced.