Thursday, November 29, 2012

Fla. man unearths 1.95 ct. diamond in Ark. park

A Florida man found a 1.95-carat brown diamond at Arkansas' Crater of Diamonds State park, the second-largest diamond found there this year.
Park officials said Wednesday that 40-year-old Doug Lay of Hernando, Fla., found a coffee-colored gem about the size of a pea. Lay has unearthed 30 other diamonds over the last four years but Tuesday's find was his largest.
About 500 diamonds have been found this year at the park in southwestern Arkansas. A 1.99-carat yellow diamond was found in March by a Texas ninth-grader.
In 1975, a visitor discovered a 15.33-carat white diamond.
The Crater of Diamonds State Park is the world's only diamond-producing site open to the public. On average, two diamonds are found each day at the park, and more than 75,000 have been unearthed.

Wednesday, November 28, 2012

Karowe's rare blue diamond fetches P36m

A rare 9.46 carat blue diamond recently recovered at Karowe Mine was auctioned in Gaborone this week at a whopping P36 million (4.5 million).

The precious stone was sold as part of Lucara Diamond's fourth auction of the year in which 52 lots containing 56,982 carats were put up for sale. Lucara recovered the rare Type II blue diamond early this month from its wholly owned Karowe Mine in the Boteti. The mine was commissioned early this year.
"All lots were sold for an average price of $300 per carat yielding gross proceeds of $17.14 million. The jewel of the sale was the 9.46 carat blue diamond, which sold for $4,515,000 or $477,272 per carat. Also included in the sale was a second small blue diamond weighing 0.64 carats which sold for $24,500 or $38,282 per carat," said Lucara in a statement.
The diamonds were sold on tender with pre-sale viewings at the Diamond Technology Park (DTP) in Gaborone and Antwerp. The blue Type II diamond is one of the most expensive in the world. At June 2012 diamond prices, Karowe Mine estimates to sell diamonds worth P650 million per annum and pay P140 million to government in royalties and taxes.
According to, natural blue diamonds are exceptionally rare and have achieved record prices at auctions in recent years. In October 2010, a 10.95-carat fancy vivid blue diamond, the 'Bulgari Blue' broke auction records selling for $15.7 million. Two months ago, another Botswana Stock Exchange listed company, Firestone Diamonds recovered a rare 27-carat Type ll blue diamond at its Liqhobong Mine in Lesotho, which appeared to have originated from a stone in excess of 200 carats.
"The sales numbers for our fourth sale of Karowe diamonds are a fantastic result for Lucara. The value received for the exceptionally rare blue diamond has added significantly to the sale. The occurrence of the two blue diamonds sold confirm the excellent quality of the resource at Karowe," William Lamb, president and CEO of Lucara said.
The final sale of Karowe diamonds in 2012 will take place next month with an expected sales volume of approximately 57,000 carats. Karowe is the only operating diamond mine outside the Debswana stable, following the temporary closure of Firestone's BK11 Mine and Lerala.
Lamb said Karowe Mine would continue to process ore and mine to achieve a targeted production of 270,000 carats and sales of approximately 230,000 carats in 2012. The mine is expected to process 2.5 million tonnes of ore per annum to recover 400,000 carats in a year over its 15-year life span.

Tuesday, November 27, 2012

Tax delinquent's diamond receives record bid of 93 million yen

A 12.07-carat diamond seized from a delinquent taxpayer fetched a record bid of 93.15 million yen ($1.13 million) in an online public auction on Nov. 26.
The diamond was put on the block by the Tokyo Regional Taxation Bureau, which had expected to receive 29.6 million yen for the gem.
 This diamond sold for 93.15 million yen in an online government auction. (Provided by the National Tax Agency)
Instead, the successful bid more than tripled that amount and was the highest ever in a government online auction in Japan, excluding bids for real estate, according to officials of Yahoo Japan Corp. and Rakuten Auction Inc.
The tax bureau put on sale five diamonds, each with a certificate of authenticity by the Gemological Institute of America. The color and clarity of the 12.07-carat diamond both received top grades by the institute.
A total of 152 bids were made for the diamond during the four-day bidding session.
A 7.5-carat diamond, which was initially estimated at 40.8 million yen, received a bid of 75.55 million yen during the same session.
If successful bid prices exceed the amount of taxes in arrears, the difference is returned to the delinquent taxpayer.
The previous record bid in a government online auction was 46.19 million yen for the Rosa Rugosa, a cruise ship used in a Japan-Russia program that allowed for visa-free visits to the disputed Northern Territories off Hokkaido.
The Shari town government in Hokkaido put the aging ship up for auction in January. But the winning bidder did not pay, and the contract was scrapped.
The previous record for items auctioned by the National Tax Agency was 13.25 million yen for a Bentley, a British luxury vehicle.

Monday, November 26, 2012

Interesting facts about diamonds

If you are a woman, who believes that diamonds are a girl's best friends and love these sparkling stones, get yourself acquainted with these little-known but impressive facts about this unique precious stone.

They come in many colours
When you first think of diamonds, a pristine white stone comes to our mind. No double, white or clear diamonds are the most popular ones, while black diamonds are well-known as well. But did you know that they come in pretty much every other colour, like pink, blue or even yellow? While coloured diamonds aren't as popular as the standard ones, they definitely give the wearer an unconventional touch.
More than just jewels
They may look gorgeous, set in necklaces or rings, but diamonds have other uses as well. Special blades to drills and polish tools, eye glasses, or to cut and engrave other precious stones — diamonds are used in all these and more. This is because of this stone's ability to cut through most substances.
Not so rare
Most people are under the impression that diamonds are extremely rare and unique stones, hard to acquire. Many of them are about two to three billion years old, so naturally, we are willing to pay the astonishing price they are sold at. But even though diamonds are a luxury item just like your vintage Chanel bag or Gucci shoes, they wouldn't be so expensive if the demand didn't exceed the supply greatly!
Lab-grown diamonds
As expensive as real diamonds, there are lab-grown diamonds available in the market. The companies that specialise in producing artificial diamonds do everything that nature does to produce natural diamonds. Hence, the ones artificially produced look, feel, and shine or, in short, have the properties of natural diamonds. So now, a diamond can be made in just a couple of days!

Sunday, November 25, 2012

Bid to smuggle diamonds worth Dhs4m foiled

Dubai: Dubai Customs inspectors foiled an attempt to smuggle more than a kilogramme of diamonds by two Arab nationals, who concealed the diamonds in their stomach so as to avoid paying customs tariffs.

The diamonds, in total, were valued at Dhs4m.

According to Ali Moqhawi, Director of the Department of Airport Operations at Dubai Customs, the smugglers were coming separately from two African countries, but the skilful customs inspectors at ports detected their smuggling attempts.

He revealed that the details of the first case date back to the time when the customs inspectors at the airport terminal No.1 suspected an Arab national traveller on his way to customs who was behaving strangely.

When he was searched at the front desk, nothing was found.

His luggage was also clear and so was subjected to a body scan that showed strange objects in his stomach. On being questioned, investigators found that he concealed 316 grammes of diamonds in his stomach.

Moqhawi added that in a similar incident, an Arab traveller at the Dubai International Airport headed to the gold office in Terminal 1 to declare an amount of diamond ore. He presented the certificates of the diamond but his actions aroused the suspicions of the customs inspectors.

After he underwent a scan, objects were detected in his guts. On being questioned, investigators found that he concealed 700 grammes of diamonds in his stomach.

The two suspects were referred to the office of the Dubai Police at the airport for further procedures.

Thursday, November 22, 2012

Rio Tinto Showcases Bunder Diamond Jewelry

Rio Tinto showcased its inaugural diamond jewelry collection from the Bunder diamond project on the red carpet at Mumbai’s Liberty Cinema.

Australian-born Indian actress Pallavi Sharda wore the diamond jewelry earrings and necklace, known as Courageous Spirit, to the premiere of ''Fearless Nadia,'' in celebration of 100 years of Indian cinema, the company stated.

Rio Tinto said that the Courageous Spirit jewelry, which was designed by Reena Ahluwalia of Toronto, incorporates more than 25 carats of polished Bunder diamonds, including a 5.04- carat, round brilliant-cut white diamond and a 5.02-carat, round brilliant-cut cognac diamond.

“I am honored to wear Rio Tinto’s beautiful diamond jewels, dedicated to the pioneering spirit of the women of Madhya Pradesh, who are so much a part of the Bunder project’s development,” Sharda said. She was joined by Bollywood actor Amitabh Bachchan and Jay Weatherill, the premier of southern Australia.

Discovered in 2004, in India’s central state of Madhya Pradesh, Rio Tinto’s Bunder diamond mine is likely to come into commercial production in 2017. The company has budgeted to invest $500 million to fully develop the mine.


Wednesday, November 21, 2012

De Beers Commissions Rolf Sachs for Christmas Store Windows

De Beers Diamond Jewellers commissioned London-based conceptual designer Rolf Sachs to create its store window installation for Christmas season. The project, titled “Breathing Light,” will be featured in all of De Beers stores shortly and debuted in London on November 15. christmas display
The installation creates the illusion of windows, apparently covered in a thick layer of frost, offering a few hand-swiped clearings to view what is just inside. The warm glow of flickering light, reminiscent of candles on film, are displayed using an iPad, and that are meant to lead the viewer into believing  the flames are quivering under the breath of someone nearby.
Sachs said, ''Just like diamonds, the contrasting attraction of frost and flame is timeless and intriguing. I am delighted to have collaborated with De Beers on such an inspiring project.'' Sachs is renowned for his distinctive multi-disciplinary approach to projects by incorporating his passion for modern and conceptual art.
François Delage, the chief executive of De Beers Diamond Jewellers, added, ''Following on from the success of Imaginary Nature, we are delighted to express our passion for light in a new form and design. We welcomed the opportunity to collaborate with an artist designer in a joyous and festive manner. As 'The Jeweller of Light,' we are thrilled to bring light to our windows in this holiday installation and once more support the arts and design.''
De Beers Diamond Jewellers was established in 2001 as an independently managed and operated joint-venture between De Beers and LVMH Moët Hennessy Louis Vuitton. Stores are located in many major cities including a stand alone store in New York, Printemps and Galeries Lafayette in Paris, Old Bond Street in London, The Landmark in Hong Kong, Shin Kong Place in Beijing and Ginza in Tokyo.


Tuesday, November 20, 2012

Diamond Jewelry Retailer Blue Nile Rings in an Extraordinary Holiday

Blue Nile (Nasdaq:NILE), the leading online retailer of diamonds and fine jewelry, is making this holiday extraordinary by offering shoppers exclusive deals on the hottest jewelry trends, $100,000 in gifts through the biggest social media promotion in the company’s history, gift guides curated by the company’s diamond and jewelry experts, the convenience of free FedEx shipping, and the peace-of-mind of lifetime warranties.
Holiday Exclusives Sales & Discounts
Blue Nile knows that shoppers are looking to stretch their dollars. That is why the brand is offering unprecedented sales and discounts throughout the holidays on items from classic diamond studs to trendy gemstone bracelets. Blue Nile’s Holiday Exclusives, which provide a special deal on a unique item each day, offer something for every taste and every budget. A sneak peek includes:
Black Friday: Sta rting November 22nd at 9:00pm EST through November 25th at midnight EST, Blue Nile will offer 33% off its most popular gemstone cushion bracelets in five colors, such as the Amethyst Cushion Bracelet (Regular $295; Black Friday Exclusive $199) and the Smokey Quartz Cushion Bracelet (Regular $295; Black Friday Exclusive $199).
Cyber Monday and Holiday Exclusives: From November 26th through December 22nd, Blue Nile will announce a different “Holiday Exclusive.” Here is a taste of what Blue Nile will offer:
Cyber Monday: 40% off 1/2, 1/3, and 1/4 carat diamond stud earrings.
December 7th — December 9th: Save up to $700 on Blue Nile Signature Diamonds.
December 18th: 20% off diamond tennis bracelets.
Extraordinary Days of Christmas
Blue Nile is giving away $100,000 worth of extraordinary gifts via the largest social media promotion in its history. Starting on November 26th and running through December 7th , Blue Nile’s Facebook page ( will transform in to an interactive holiday scene, complete with a roaring fire and gift-wrapped presents. Each day, fans can select and virtually unwrap a gift of their choice for a chance to win one of 12 extraordinary pieces of jewelry.
One extraordinary gift, ranging in value from $3,500 to $13,500, will be unwrapped each day by one lucky winner. Gifts include, but are not limited to, 2-carat diamond earrings, a 4-carat diamond bracelet, sapphire and diamond rings and multiple diamond engagement ring packages, including one from the Monique Lhuillier Fine Jewelry collection exclusively for Blue Nile.
2012 Holiday Jewelry Trends
Blue Nile’s jewelry experts have put a unique spin on this season’s must-have trends, enabling gift givers to purchase extraordinary styles to meet all budgets.
Enduring Elegance: Timeless Diamonds Are Always in Season
Diamond accessories are an easy way to add grace and distinction to an everyday look. Fashionable diamond staples from Blue Nile such as simple studs, delicate bracelets and classic pendants are exciting, meaningful gifts that never go out of style.
Heavenly Holiday Trend: Halos
Halos, this season’s must-have style in diamonds, offer a dazzling accent to any round or cushion diamond accessory. Vintage Halo Diamond Earrings in 14k White Gold from Blue Nile ($800) enhance the center stone, increasing the visual impact of the diamond’s sparkle.
Make a Statement: Objects of Desire
Be the belle of the ball at all of your holiday festivities this season with bold, yet elegant statement pieces. Explore a mixture of gemstone and diamond accessories with Blue Nile’s Objects of Desire.
Love That Lasts: Platinum Engagement Rings and Wedding Bands
The holiday season is a popular time of year for engagements and Blue Nile is the leading online destination for breathtaking engagement rings i n platinum, which is a great metal choice because it won’t change color or fade. It symbolizes a relationship that will endure.

Monday, November 19, 2012

Sterling Sues Zale Over “Most Brilliant Diamond” Ads

Zale and Sterling have long battled each other in America’s malls. Now they are also fighting in a court of law.
On Nov. 13, Sterling Jewelers filed a lawsuit against Zale Corp. in Northern District of Ohio federal court, charging that Zale is engaged in false advertising by calling its Celebration Fire diamond “the most brilliant diamond in the world.”
 Sterling Sues Zale Over “Most Brilliant Diamond” Ads
It notes that Zale’s advertising says the claim is based on “independent laboratory testing conducted in 2012 of round-cut diamonds from select leading national jewelry store chains.” The lab is not specified.
But Sterling’s court papers argue that brilliance is “not a statement of subjective opinion but is capable of being systematically, reliably, and scientifically measured.”
They maintain that by comparing to Celebration Fire only to diamonds at other “national jewelry store chains,” Zale is giving an incomplete picture.
“Zales’ claim that it has proven its Fire diamond to be more brilliant that any other cut of diamond in the world can be true only if its Fire diamonds have been tested against every other cut of diamond in the world,” Sterling says.
It also adds that “even as to the limited sub-set of diamonds tested in the test referenced by Zales, those tests do not constitute competent and reliable scientific evidence that Zales’ Fire diamond is the most brilliant diamond in the world.”
The suit charges Zale with false advertising under the Lanham Act, and deceptive trade practices under the Ohio Deceptive Trade Practices Act.
At press time, Zale had not filed a response. However, spokeswoman Roxane Barry tells JCK: “Our advertising was based upon testing by an independent laboratory and our ads make that fact clear. We believe the lawsuit is without merit.”

Source: JCK

Sunday, November 18, 2012

Diamantaires worried over falling Hong Kong imports

Alarm bells have started ringing for diamantaires in world's biggest diamond cutting and polishing centre in Surat with Hong Kong's (HK) polished diamond imports falling to a significant 14 per cent year on year to $4.1 billion in the third quarter of 2012.
While the US still remains a large diamond jewellery consuming centre, there can be no doubt that India, China and HK are the centres of future for the diamond industry on all fronts - be it manufacturing, trading or consuming.
Already, HK is a significant partner for India. About 21 per cent of the polished diamond exports by the Indian diamond industry go to Hong Kong. The Diamond Federation of HK, China published data that showed that the polished diamond imports in Hong Kong have dropped 19 per cent in the third quarter of 2012.
HK imports roughly $16 billion worth of polished diamonds per annum and that about 80 per cent come from India. There are over 350 trading offices in HK and about 80 per cent of them are owned by Indians, especially the diamond traders from Surat and Mumbai.
HK is the biggest market for India after Dubai and US and that the drop in polished diamond imports may signal a tough business season ahead. The HK Jewellery and Gems event organized recently failed to please the global diamond industry with the demand for diamond jewellery diminishing amid the falling prices of polished diamonds.
"HK is the biggest export market for diamond industry and a slight fall in demand could result in heavy losses to the diamantaires in Surat," a DTC sightholder said.