March 2012 Diamond News
Baselworld 2012 Summary
The 2012 Baselworld show reveals Yellow, Pink and Blue diamonds are hot with investors and dealers. If fact, in an interview with Reuters during the show Bruno Scarselli of Scarselli Diamonds is quoted as saying “There is a tremendous demand for yellow diamonds, but also blue and pink,” then Scarselli adds “There are not enough diamonds to satisfy one-tenth of the new billionaires that every month are created in China”.
Over all the colored diamond market is seeing huge growth from Chinese consumers as they develop a passion for colored diamonds, inspiring even the watchmakers to embellish their timepieces with fancy colored stones.
In a recent broadcast, John Dippenaar of Petra Diamonds reports recovery from the 2011 third quarter slump. According to Dippenaar, the company is ramping up plans to meet the growing demands as seen in the global diamond market; with a focus on small stones from China and India. “We have experienced very firm pricing in the smalls,” he told Rapaport News, “People say that the bigger stones are less affected by market uncertainty but that has not been the case more recently.
” Reflecting this trend, in September 2011 Petra acquired the Finsch mine from De Beers, which has a history of high-quality small stone production. Along with an increase in the volume of production, Petra Diamonds’ is also aiming to raise the grade from 33cpht to 47 cpht. Of the company’s over all plans Dippenaar explains, “Our aim is simply to grow production and move to higher grades from the same effort. That’s key to our story.”
Christie’s auction of heiress Huhette Clark
For over 60 years, a rare 9-carat pink diamond ring belonging to reclusive American heiress Huhette Clark sat forgotten in a bank vault until her death at the age of 104 years. Rahul Kadakia, head of Christie’s jewels recalls the instant he first opened the safe deposit box containing the $6 to $8 million dollar gem Clark inherited from her mother.
“Even in that dimly lit bank vault, I knew this was an incredible stone. Wow!” he said. “It was the first box I opened and you think, ‘This is going to be one helluva ride.”
After receiving a call from the auction house’s estates department to assess Clark’s jewelry, Kadakia stated that having known the heiress’s history he had a suspicion that this was going to be good.
“But” he said, “I had no inkling I would go into that bank vault and open it up and look at this pink diamond that would blow me away,”
Some of the Jewelry left in Clark’s collection:
• A19-carat white diamond Cartier ring
• A Cartier charm bracelet dating from 1925
• Two Diamond Bracelets
The 17-piece Jewelry collection is scheduled for auction, April 17 at Christies New York and is expected to command $9-12 million.
Blue Diamond is King at Sotheby’s Spring Auction
The eagerly awaited Sotheby’s 2012 spring sale will go off April 3 at the Hong Kong Convention and Exhibition Center.
Two important pieces included in the Hong Kong sale are:
• A 5.03-carat pear shaped fancy vivid pink diamond ring (presale value of $5.4 million)
• A 3.28-carat fancy vivid pink, internally flawless pear shaped ring (presale estimate $2.8-$3.6 million)
Add to this a unique antique rose cut 5.00-carat fancy vivid blue diamond ring accented with pink and white diamonds. The pear shaped ring has Sotheby’s excited as a rose cut is exceptionally unusual for colored diamonds. Although Sotheby’s states that, it is gaining popularity. Estimated at $4-4.5 million presale the auction house is expecting it to do well.
Topping this year’s list of exciting gems is a VVS1, 8.01-carat fancy vivid blue diamond and diamond ring.
In a statement, deputy chairmen for the jewelry department, Sotheby’s Asia, Quek Chin Yeow says ”With the new per-carat record price for blue diamonds in hand, Sotheby’s Hong Kong has had a track record of being the auction house of choice for selling top vivid blue diamonds.” Presale values set the ring at $11.5-$14 million making it the largest emerald cut, vivid blue the auction house has seen in several years.