May 2012 Diamond News

Diamond Dud Turns into National Treasure

In February, Novel Collection brought you the story of what was at the time thought to be the largest Natural Pink Diamond on record.  The 12.76-carat wonder was unearthed at Rio Tinto’s Argyle Mine in Australia and reports at the time were estimating the diamonds worth at $12 million; making it not only the largest but also the most valuable pink diamond in history. 

After cutting and polishing however, it was discovered that the diamond had some serious problems. Magnification showed that the diamond had a series if internal flaws and one major fault line that could not be overcome.  Tinto although disappointed turned the situation to a big win by donating the stone to Australia’s Museum Victoria.  

Robin Hirst, spokes person for the museum remarked that stone was an important piece of Australia’s mining history.  The now 8-carat pink diamond remains incredibly valuable and will hold the singular status of being the largest pink diamond ever discovered in Australia, truly a national treasure and Tinto is to be commended for his generosity in donating such a prodigious gift.

 

Auction News

Christie’s Hong Kong Magnificent Jewels sale set for May brags the largest Intense Pink Round diamond ever to show at auction.

Martian Pink Diamond

May 29, marked a day to be remembered as Christie’s brought the gavel down on the 12.04-carat Martian Pink Diamond. The incredibly rare brilliant cut pink stone is owned by a private collector and was given its name in 1976 by renowned American Jeweler Ronald Winston. 

The auction took place in Hong Kong and expectations were rightfully high as everyone held their breath to see if the largest pink diamond ever to be auctioned could have brought the expected $10 million sale price.  As one of the two pink diamonds of noteworthy size, the Martian Pink Diamond is beyond rare. The other a 23.60-carat pink diamond belongs to Queen Elizabeth of Great Britain. 

We were amazed to see that the final selling price for the diamond was $17,485,300. Beyond all expectations.

Christie’s Magnificent Jewels Sale 

Wrapping up an exhilarating week in Geneva Christie’s Magnificent Jewels sale ended on a high note realizing $72,264,493 in sales. Of this, 86 percent sold by value and 84 percent by lot. Top sellers included an Indian emerald sarpech, which induced a blood pressure rising 10 minute bidding war, however it was a 32.08-carat Burmese Ruby and diamond ring that took day reaching a final price of $6,742,440 US.

Of course we all want to know how colored diamonds scored at the Christie’s Geneva show and Novel Collection never disappoints… here are your results.

 

A remarkable 14.66-carat yellow diamond, ruby and pearl brooch was purchased at US $2,996,057

 

An oval-shaped fancy vivid yellow of 19.07-carats fetched US $1,839,100

 

A 100.40-carat cushion-shaped fancy intense yellow brought US $2,642,380

 

A rectangular cut 8.95-carat fancy pink, diamond obtained US $2,818,540

 

A diamond cluster and pink diamond flower brooch scored big with a final price of  $ 2,937,260

 

Tiffany – 175 Years of Diamond Excellence

Tiffany celebrates 175 years of design excellence with a spectacular new setting honoring the company’s iconic 128.54-carat Tiffany Yellow Diamond. 

Founded in New Your in 1837, Tiffany is synonymous with diamonds. Its famous fancy Yellow stone symbolizes the excellence upon which the company has built its reputation. Discovered in the Kimberly diamond mines (South Africa) in 1877, the rough 287.42-carrat stone was acquired by Charles Lewis Tiffany in the following year. Later, in Paris Tiffany’s eminent gemologist, Dr. George Frederick Kunz oversaw the process of cutting the diamond. The result, a brilliant cushion cut with an extraordinary 82 facets.  

To commemorate the celebrations the famous yellow stone will visit Dubai and Beijing before returning home to New York dressed up in a new platinum setting. Executive vice president of Tiffany & Co. Jon King states,  “The Tiffany Diamond is the most important gemstone in the world and honors the vision of our founder, whose acquisition of the stone established Tiffany’s diamond heritage. Resetting the Tiffany Diamond represents a commitment to the future and design innovation.”

The new setting was preceded by submissions of concepts by Tiffany’s designers and took more than a year to complete.