In The News: Record Breaking Pink Diamond Sells

Sotheby’s jewelry department made history on November 13, 2013. The “Pink Star”, a 59.60-carat, Internally Flawless fancy vivid pink diamond, sold for $83,187,381 USD. The previous record was held by the “Graff Pink”, a 24.78-carat fancy intense pink diamond, which sold in 2010 for 45.44 million Swiss francs ($45.75 million at the time).

Magnificent Oval Diamond Sold at Auction

In October 2013, the largest D Flawless diamond was sold at auction. A 118.28 carat, Oval shaped, D color, Flawless diamond was sold at auction for $30.6 million which shattered The Winston Legacy record.  The Winston Legacy is a 101.73 carat Pear shaped, D color, Flawless diamond, that sold for $26.7 million in May 2013.

To date, here are the Top 5 Largest D Flawless Diamonds that have been sold at Auctionn:

– The Mouawad Diamond: 101.84 carats, Modified Pear shape, D color, Internally Flawless. Sold for $12.8 million in 1990.

– The Star of Happiness: 100.36 carats, Rectangular shape, D color, Internally Flawless. Sold for $11.9 million in 1993.

– The Star of the Season: 100.10 carats, Pear shape, D color, Internally Flawless. Sold for $16.4 million in 1995

– The Winston Legacy record: 101.73 carats, Pear shape, D color, Flawless. Sold for $26.7 million in 2013.

– Magnificent Oval Diamond: 118.28 carats, Oval shape, D color, Flawless. Sold for $30.6 million in 2013.

The Eternity Band

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            Certainly a statement piece, the eternity band is a ring with a continuous line of identically set diamonds in a band of precious metal.  The Eternity Band is a symbolic gift, usually given by a husband to his wife on a significant anniversary.  The ideology behind the ring is that it is a never-ending band of love, representing eternity.

The history behind the Eternity Band however is very different from the sentiment.  In the 1960’s, diamond merchant De Beers controlled the diamond supply channel and had a secret agreement with the Soviet Union.  In order to keep this so called monopoly over the industry, De Beers agreed to buy 90 percent of the uncut gems produced by Russia.  Because these stone were typically much smaller than the average solitaire stone in engagement rings, De Beers fashioned the Eternity Band to market towards married women.

The idea took hold, and soon this was the most desired anniversary gift. The company fashioned a campaign around the idea with the slogan, “ She married you for richer or poorer.  Let her know how it’s going.”  Today the Eternity Band is seen as a classic and essential gift on important wedding anniversaries.

 

Information acquired from DeBeers.com

The Hope Diamond

The Hope Diamond

45.52 Carats

VS1 Clarity

Natural Fancy Deep Grayish Blue Color

Antique Brilliant Cushion Cut

This astonishing diamond has a significant history that traces back to the 17th century.  It has passed through royalty, riches, and fame, been untraceable for decades, and now resides in one of the most famous museums in the world, The Smithsonian, where 7 million visitors view it annually.

Legend has it that the Hope Diamond was originally 112 carats, and was found as the eye of a religious idol in India.  This story lends evidence to the fact that perhaps it has a mate.  The diamond was sold to French traveler Jean Baptiste Tavernier by a slave who believed it to be a larger sapphire, though Tavernier knew better.  He took the impressive stone to Paris in 1669, where he sold it to king Louis XIV, who then cut the stone into a triangular-pear shape of nearly half its size, renaming it the French Blue at 67.50 carats.  During the French Revolution, the crown jewels were stolen and the hope diamond disappeared along with them.

For over two decades nothing was heard about the remarkable stone, and then in 1830 a large blue diamond of a different shape, weighing 44.50 carats appeared on the market in England and was purchased by Henry Thomas Hope, from whom it was given its name.  In 1910 Pierre Cartier purchased the diamond and sold it the American socialite Evalyn Walsh McLean.  Upon her death in 1949, Mr. Harry Winston bought the magnificent gem, and later donated it to the Smithsonian Museum, where it is on display today as one of the most visited museum pieces in the entire world.

There are a number of misconceptions surrounding the mystery and infamy of the Hope Diamond.  The Hope Diamond is often thought of as the largest blue diamond, when in actuality it is the fourth.  It is also often mistaken as the diamond belonging to Elizabeth Taylor.  Stories of misfortune and death surround its historic owners, but one thing is certain, it is the most beautiful blue diamond the world has laid eyes on.

Information acquired from the Smithsonian site.

Diamonds- not only beautiful jewelry, but also a great investment

In 2001 when De Beers’ monopoly supply over diamonds officially ended, many new companies entered the market place with substantial discoveries.  Today the largest site holders are Rio Tinto, Alrosa, De Beers, Dominion, and Petra, as well as many smaller companies. With more diamonds on the market, and with far less restrictions, the gemstones took on a new angle.  Historically, large investments have been made in precious metals, and today we are seeing this trend being applied to diamonds as of late.  In August of 2012, The United States Patent and Trademark Offices passed a patent that allowed diamonds to be classified as ‘Investment Grade’ for commercial trading and financial investments.  Soon after, Physically Backed Diamond ETF’s were listed under US Securities and Exchange Commissions.  However, unlike precious metals, diamonds do not have consistent prices, as there are a number of factors that influence their values; carat size, color, clarity, and cut, often referred to as the 4 C’s.  Though with the current decline in gold prices, it appears as though an opening for diamonds has come forward in the investment market place.  With China leading the way in this new form of physical assets, many other countries are catching on.  Annually, diamond prices have increased 8%-9% a year, and are expected to be available for trade on the NASDAQ Stock Market by 2014.  Hopefully this is the beginning of a new value and ideal for the diamond industry.

 

Information acquired from Forbes.com

Watches

A classic piece of jewelry, yet a very functional accessory.

Evolving from the 15th century spring driven clocks in Europe, the watch has progressed over centuries, and now is a staple in ones day-to-day life.  Initially worn as pendants, then moving to pocket watches, the wristwatch now is the most common time piece.  With Vacheron Constaintine and Breguet leading the way in the 1800’s, the watch began being mass-produced with increased technology and improvements in movement mechanics.  Patek Phillipe created the first wristwatch in 1868, which were made for German naval officers representing the first commercialization of wristwatches for men.  Until the end of the First World War, men wore pocket watches and women donned the wristwatch.  In 1904, Brazilian aviator, Dumont asked friend Cartier to come up with a hands free way of telling time while in flight.  Cartier and Jaeger came up with the first prototype called the Santos wristwatch for men.  As time progressed, new improvements surfaced.  In 1969 with the introduction of the quartz movement, numerous developers entered the market place.  Today there are hundreds of brands for sale, notably the early inventors remain classics, such as Patek Phillipe, Vacheron Constantine, Breguet, Cartier, and Jaeger LeCoultre.  Other fine brands such as Rolex, Paneri, Girard Perregaux, and Audemars Piguet have entered the market place as well, making quite an impact.  Whether looking for luxury, and making a statement with your timepiece, or looking for practicality, the wristwatch is a classic piece of jewelry.

Please come visit our Denver Jewelry location, in cherry creek, to look at fine watches.

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The Latest on Diamonds

As of this week, diamonds seem to be on the move across the globe.  Whether raising money for new mines, surpassing sales expectations for the quarter, or finding new ore, the world is loving diamonds.

As for late, Firestone diamonds has raised 6 million dollars for redevelopment at its flagship mine in Lesotho, Africa, and seriously expects to increase production.

Rio Tinto’s second quarter rose an astonishing 47 percent, with growth driven by higher grades in ore processed in its Argyle mine in Western Australia.  It’s production also rose 21 percent at its Murowa mine in Zimbabwe.  The company expects to recover 15.7 million carats of diamonds in 2013 compared to 13.122 million carats mined last year.

Dominion Diamond Corporation recovered approximately 1.04 million carats of diamonds from its Ekati and Diavik assets during the second quarter of 2013, and is exceeding its expectations set during its previous years in operation.

In Gujarat, India diamonds continue to flourish increasing labor opportunities and adding to its economy.

And of course, across the USA chain sales are reported to have risen by 1.7 percent, an increase to a once falling market.

As diamond production grows, their value continues to increase making them not only a desirable piece of jewelry, but a valuable asset as well.

Content for this blog was acquired  through Rapaport.com

Yellow Gold is Back!

  This summer has shown a multitude of many different trends in the jewelry market, but one statement that has made a serious come back is yellow gold jewelry.  We are seeing it everywhere!  From large yellow gold hoops, to wide gold bangles, to chunky thick gold necklaces.  There are many new pieces that are being seen with ornate engravings and unique uses.  For example the ring bracelet, double knuckle rings, as well as stackable rings, and layered necklaces.  The rich yellow gold color is matched nicely with summer tans and colorful dresses!  It always fun to see a classic come back onto the market  in such a bold manner!  e0ba329d99dd65485c775b78f3e1df5a

Pearls, Pearls, Pearls

Pearls are often seen as special occasion pieces, but can easily be incorporated into everyday wear, without taking away the mystique of the beautiful gem!  There is a lot to know about pearls but here are a few steps that will help:

1.  SIZE- a pearl’s value is often dependent on size, with larger ones being more valuable.  The classic size is 7 mm.  Larger pearls are typically produced by older, more mature oysters.

2.  SHAPE- how round the overall pearl appears. The more perfectly round, the better, although there are different breeds of pearls.  For example, Baroque pearls are irregularly shaped, though very nice.

3. LUSTER- this is the iridescent glow that radiates from a pearl.  It is determined by the thickness of the nacre and lack of surface blemishes.

4. COLOR- depending on the type of pearl, they appear in a variety of colors, though color should be even across all surfaces.  Pearls can come in white, cream, pink, silver, black, and gold.  Depending on luster they can appear green, blue, or even rose.

5. MATCHING- if strung, all pearls should be as close to the same size, unless it is a graduated necklace, in which case they should be very precisely graduated.

Pearls are an organic gem that form in the soft tissue of a mollusk.  The gem that results can be beautiful, rare, and certainly a treasured piece of jewelry.

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Diamonds, Gems and Jewelry- Summer Trends

After returning from the JCK jewelry show in Las Vegas, it was obvious that new jewelry had arrived for the summer.  Although diamonds were abundant, and clearly a stable part of the market, gems had made a significant impact.  The newest designs being sliced rubies, sapphires, quartz, tourmalines, and almost every gem you could think of.  These sliced gems were then strung into earrings, necklaces, and bracelets to form beautiful pieces of jewelry.  My new favorites for the summer!

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