August 2012 Diamond News
The Majestic Pink Diamond
WOW, is the first word that comes to mind as another rare pink diamond hits the market August 8. The diamond is an impressive 12.27-carat with an estimated worth of $7.85 million. Cushion cut and set in a rose gold and platinum band with baguettes by Cartier: the ring is being offered for sale by M.S. Rau Antiques in New Orleans. The GIA has graded the natural fancy” Majestic Pink” VVS1. Classified type IIa this rare beauty measures 14.29 x 12.07 x 7.91. If you can’t wait to get a peek at this stunning ring check it out online at 1stdibs.com.
Investment news: The Singapore Diamond Exchange
With more than 50 private investors invited to attend its upcoming private sale at the Singapore Free Port. The Singapore Diamond Exchange is hoping to see attendees walk away with some amazing diamonds. Among the offerings is a 54.09-carat Fancy Vivid Yellow Diamond necklace with a $6.1 million price tag and a 20-carat fancy vivid yellow. Rumor has it that the prices are at wholesale – 30 to 50 percent lower than retail. Jim Rogers, an investor based in Singapore commented, “Diamonds can be wonderful investments if you get the timing right. They are also decorative. They last forever and they will not wear out anytime. You can give them to your children and grandchildren”.
Interesting industry news: Diamond Grading Patent
This week Rapparort released a story about a new patent for identifying investment grade natural and synthetic diamonds. The patent, number 08239211 was issued to Gemshares LLC of Chicago, Illinois whose invention involves a method developed to standardize synthetic and natural diamonds, rubies, sapphires and emeralds for the purpose of investment. The patent also covers a system for creating an index of investment grade diamonds that will act as a reflection of the general market. The investors filing for the patent, (March 27, 2009) are Victor Feldman, Andrew J. Feldman, Sharon Karsten, Daniel Gramza and David W. So. Filed the patent “in order to enable the delivery of a standardized, fungible and certified global investment-grade gemstone, or a basket of gemstones. These can be used in futures contracts, options, exchange-traded funds or any other regulated or unregulated financial vehicle.”
An online auction held August 18, made big news as the U.S. Marshals Service auctioned off 255 Lots of Fine Jewelry, Watches, Gold Coins. The lots were made up of items seized from federal court cases and included among them a 15-carat yellow diamond and platinum ring valued at $180,000. All proceeds from the auction will be used to compensate victims of crime.
Rio-Tinto goes “green”
While predictions fly that the Argyle mine is on its last legs, Rio Tinto is not one to say die. Launching his new collection of sustainable jewelry called “Nature’s Beauty” Tinto has once again proven to be a man of vision when it comes to the colored diamond industry.
Certified last month by The Responsible Jewelry Council for “ethical, social and environmental standards” Tinto says, “Today’s consumer is looking for assurance that the jewelry they buy has been produced to the highest ethical, social and environmental standards,”
The new collection will feature champagne diamonds from the Argyle mine set beautifully in designs of gold from Tinto’s Kennecott Utah Copper mine in the US.