Petra Diamonds has recovered a 29.6 ct blue diamond, possibly the rarest and most coveted in the world.
Cailey Barker at brokers Numis said the diamond could fetch between $15 million and $20 million at auction.
Chief Executive Johan Dippenaar said “this is probably the most significant stone we’ve ever, in terms of blue stones, recovered”. At the mine is located in South Africa.
New York, November 12, 2013
Dear Colleagues,
Much has been written in the past month concerning synthetic diamonds being represented as natural diamonds. We at the DMIA believe that it is imperative that the industry respond immediately and forcefully.
DMIA issued a formal call to action 18 months ago in May of 2012 (reprinted below in its entirety) and do so again now. In our view, one of the major problems in attacking this issue is the lack of cohesion from stakeholders all of whom are rightfully very concerned.
As an industry leader DMIA is indeed making progress as we are in constant contact with local as well as Federal law enforcement agencies, the United States Department of State, and our domestic industry leaders; among them GIA, JA, AGS, MJSA, JVC, to mention just a few.
We once again call on the international and domestic leaders from industry, law enforcement, and laboratories to physically gather together as soon as possible and for as long as is necessary to finalize the best approach.
To that end, we reiterate today that we are ready to host a conclave in New York City and will work immediately with our colleagues to make it a reality.
Ronnie VanderLinden, President
Diamond Manufacturers & Importers Association of America
Blue Nile’s sales rose 20 % year on year for the third quarter of 2012. Turn over for the third quarter was $89.8 million.
4 quarter sales are expected between $140 million and $153 million, compared with $112 million in the fourth quarter of 2011.
We are excited to report solid results in the third quarter, with accelerating revenue growth and expanding earnings per share, Said Blue Nile.
With continued steady execution of our strategy coupled with exciting product offerings for the holiday season, we believe we are well positioned to achieve our goals for 2012.
The American Gem Society, in partnership with Verichannel, announced today the launch of a specialized search engine for diamonds graded by AGS Lab, available from AGS suppliers.
The online service is integrated into the members only section of the AGS website, and is also accessible to AGS members from the Verichannel platform itself. “AGS Diamond Search” consists of a database of stones uploaded by AGS suppliers, and also stones uploaded directly from the AGS Lab, immediately after being graded, based on permissions set by the supplier. They are searchable using standard criteria of color, clarity, shape, etc. AGS retailers contact suppliers directly to initiate a purchase.
DCLA teaches about diamond grading and diamond buying at a hands-on Diamond Workshop; register now for a 2-3 hour course before buying your diamond.
DCLA diamond experts will walk participants through the steps of grading a diamond for quality, and how to buy a diamond, during a 2-3 hour in-house workshop located at the actual DCLA Laboratory.
Call DCLA on 1300 66 3252(DCLA) to reserve your place. Spacing is very limited.
Diamond Buying workshop topics include:
•Detailed explanation and hands-on evaluation of the 4C’s of diamond grading. Participants will take part in the grading process to learn how the quality and value of a diamond are established.
•Choosing the diamond shape, size, and quality right for you
•How to shop for a diamond and questions to ask jewellers
•How to read, understand, and compare Diamond Grading Certificates when shopping
•Explanation and identification of diamond treatments, and how they affect value
•Explanation and identification of synthetic diamonds, and how they affect value
Participants will have ample opportunity to ask questions throughout the workshop.
Again, contact DCLA on 1300 66 3252(DCLA) to register and reserve your place.
It is with great pleasure that the DCLA announces the launch of the DCLA Diamond Exchange, a new company and diamond trading floor that gives all diamond buyers direct access to DCLA certified and guaranteed diamonds.
The mission of the DCLA has always been to protect diamond buyers and maintain consumer confidence in diamonds. In the continuing pursuit of this mission, the DCLA has had overwhelming demand to provide the public with access to DCLA certified and guaranteed diamonds. If you cannot find a DCLA diamond at your jeweller, DCLA Diamond Exchange is happy to assist.
The DCLA Diamond Exchange is the first and only diamond exchange where consumers buy diamonds with the greatest confidence that all diamonds are guaranteed to be correctly graded, providing you with the right diamond at the right price. Every diamond listed on the DCLA Diamond Exchange is backed by the DCLA Laboratory Consumer Grading Guarantee. This guarantee assures buyers that every diamond listed on the site is independently graded and verified, and is protected by a full-replacement guarantee.
Through the DCLA Diamond Exchange, leading Australian diamond merchants list their DCLA certified diamonds directly to you on the Diamond Exchange trading floor, while DCLA diamond experts guide you through the buying process from beginning to end.
Consumers view and compare diamonds with the personal assistance of a diamond expert in a professional laboratory setting. DCLA Diamond Buying Workshops offer consumers succinct and comprehensive diamond knowledge. Select diamond advisors provide full analyses and explanation of the diamonds being viewed, for complete confidence, understanding, and peace of mind.
This means that the DCLA now provides the first ‘one-stop-shop’ for all diamond consumer needs. Consumers can depend on reliable expert advice and diamond buying information to ensure they make a smart purchase, regardless of where they decide to buy.
Buy your diamond from the diamond experts, and select a jeweller whose designs and work you like. For more information, or to find a diamond, go to the DCLA Diamond Exchange.
Why buy from the DCLA Diamond Exchange?
• DCLA are experts in diamonds and determining diamond quality, with vast knowledge and experience in diamonds.
• DCLA Diamond Exchange draws on the thousands of DCLA diamonds available right here in Australia, which guarantees you the right diamond at the right price.
• DCLA gives you all the information you need to make a smart purchase, even if you buy elsewhere.
• DCLA certifies, guarantees and cold laser inscribes every diamond for your protection.
• The DCLA Diamond Exchange will have the largest selected variety of DCLA Laboratory certified, approved, and quality guaranteed diamonds available in Australia.
Does buying diamonds on the internet offer huge savings? Is it safe? Why does it appear so much cheaper?
The internet has become saturated with online diamond retailers promising unparalleled quality, selection and low prices. But has this been a positive development for consumers and the diamond industry in general? Opinions are clearly divided.
Whilst there are some genuine online retailers providing real value, regrettably the net has become the perfect avenue for selling the “leftovers”. What does this mean?
Through the traditional distribution channel in the trade, reputable diamond merchants and jewellers scrutinise, select and buy the diamonds they sell. This process ensures you as the ultimate buyer get a correctly graded diamond. With most internet retailers, a list of diamonds is received from overseas suppliers and listed on the site. These retailers do not sight the diamonds until you have bought and paid for them. Buying from these online retailers, you are not seeing and buying the diamond, you are relying on the information and advice provided by online-sellers commonly referred to as drop shippers, who haven’t seen the diamonds themselves much less paid for them.
While the internet has brought convenience, increased selection and greater competition, it has also provided the perfect vehicle for selling these “leftovers” – over graded and therefore over valued as well as treated diamonds, some with overseas certificates to lend credibility, that cannot be sold through the accountable traditional channels. Although these diamonds are listed for sale at seemingly fantastically low prices, generally one fact remains true: you get what you pay for. There have been many instances where consumers who have bought diamonds online come in to the lab for verification, only to find they have not received the quality represented.
Remember: Low price doesn’t necessarily mean a good deal.
Both the Government and the Industry bodies are aware of, and looking into these issues, but do not know how to, or even if it is possible to police.
1. Buy from an Australian-based website that has a clear money-back return policy. Buying locally, you have recourse if anything is wrong or if you are not happy with your purchase.
2. In Australia only buy a DCLA-certified diamond. DCLA is the only internationally recognised lab inAustralia, and the only lab worldwide guaranteeing that the stated quality of a DCLA certified diamond is accurate, with a third-party full-replacement Diamond Grading Guarantee. Since the grading is guaranteed, you know you’re comparing apples with apples when comparing DCLA certified diamonds to buy – you can decide on your desired quality then shop around for the best price.
BAIT AND SWITCH
Thousands of diamonds listed, little or no diamonds physically in stock or available. We call these “ghost diamonds”. Too often when an enquiry is made, that particular diamond is not available and an alternative is offered.This is an old trick – a diamond is listed at a great price, making real jewellers look expensive, but when you want to buy it it’s not available. You will often see terms like “subject to availability” and “Your money will be refunded if we happen to miss the diamond”. “If you wish, we will find a suitable replacement.”
What should you do? Ask if the diamond is in stock and available for you to view. If not, shop elsewhere.
DROP SHIPPING
Many online sellers simply list diamonds from overseas suppliers that they have never seen before. Once you, the customer, buy and pay for the diamond, it is then imported into Australia.
What should you do? Ask. Is the diamond available to view before you buy it? If not, shop elsewhere.
EXAGGERATED GRADES
Many diamonds listed on the net are either not certified or have “in house” reports or valuations allowing grades to be exaggerated and treatments to be hidden.
What should you do? Only accept a certificate from a respected independent diamond grading lab and make sure the diamond is laser inscribed for identification. This helps ensure that you receive the diamond you bought and paid for. Only compare prices of diamonds with proper certificates. Don’t be fooled by official-looking certificates or valuations from local “gemmologists”. They are probably not independent and exaggerate the grades to make the prices look good.
If you would like help finding your diamond, or have further questions, please contact us on 1300 66 3252 (DCLA) and we will be happy to assist.
DCLA has seen an alarming increase in the number of treated diamonds being submitted as natural diamonds to the laboratory for certification.
It should first be said that diamond treatments are neither good, nor intrinsically bad in and of themselves. There is nothing wrong with buying a treated diamond, provided that the treatment is fully disclosed and that you pay the appropriate price for the diamond. Because of their lower cost and value, treated diamonds can allow a person to buy a diamond that appears to be of a higher quality than it truly is.
However, too often the presence of such diamond treatments is concealed. Whether this deception is by intent or negligence, such concealment is tantamount to fraud.
Not only does artificially treating a diamond significantly reduce its value, but most diamond treatments are unstable and reversible. For this reason, all internationally accepted rules for diamond grading forbid the certification of treated diamonds. An extremely disturbing discovery just recently in the DCLA Laboratory was that of a coated diamond accompanied by a certificate from a supposedly legitimate Australian ‘laboratory’.
Members of the diamond industry have a responsibility to consumers to convey accurate and transparent information, and each individual that handles a diamond as it moves down the diamond pipeline from the mines should be held accountable for making known any treatments that a diamond has undergone.
It is deceptive and unfair to fail to disclose treatment of a diamond when it has a significant effect on a diamond’s value. In its pursuit of consumer protection, DCLA is offering a ‘Diamond Amnesty’ for diamond owners Australia-wide – any diamond brought in with its matching diamond grading certificate will be verified for grading accuracy and tested to ensure that it is natural and free of treatments. This service will be provided free of charge.
Diamond Intelligence Briefs: http://www.diamondintelligence.com/magazine/magazine.aspx?id=7833
DCLA now offers a precise recut assessment service on poorly finished, chipped, broken, and otherwise damaged diamonds.
The popular belief is that diamonds are indestructable, but the fact is that diamonds can, and do in fact break, chip, or endure other such damage like abrasions and bruising. In most cases, the damage is repairable; DCLA has advanced equipment and specialised software to provide a comprehensive damage assessment report, and recut analysis, on damaged diamonds.
On request, DCLAwill have the diamond recut or polished. This service is available to the trade, members of the public, and insurers requiring salvage assessment.
