The World Jewellery Confederation (CIBJO) and the International Diamond Council (IDC) have decided to use the same terminology for describing diamonds, making it easier for consumers to understand grading.
CIBJO agreed to make amendments to its Diamond Book — a guide to grading standards and terminology — following requests by the IDC, an organization that works to ensure consistency in grading across the industry. The IDC’s language will now be “harmonized” with that of the Diamond Book, CIBJO said Tuesday.
“The true beneficiaries of this agreement are the diamond consumers, who will now be able to refer to a single set of rules for describing diamonds,” said CIBJO president Gaetano Cavalieri.
The two organizations finalized the agreement at the CIBJO Congress in Bangkok this week. The International Diamond Manufacturers Association (IDMA), one of the IDC’s founding bodies, has also endorsed the new Diamond Book.
The Fancy Colour Diamond Index for the third quarter of 2017 indicates a slight rise overall of 0.2 percent over Q2 2017, for yellow, pink and blue fancy colour diamonds in all sizes and saturations.
Moreover, the index shows that in Q3 prices of fancy blue and pink colour diamonds appreciated 0.4 percent and 0.3 percent respectively. Similar to Q1 2017 trends, the strongest performing price categories during Q3 2017 were fancy intense and fancy vivid blue diamonds across all carat sizes.
In Q3 2017, fancy yellow diamond prices declined by 0.1 percent, the lowest price decrease for the category since Q3 2016. There was price stability across most other fancy colour diamond categories, continuing the trend in fancy colour diamond pricing patterns during 2016 and early 2017.
On a year-on-year basis, when compared to Q3 2016, the Fancy Colour Diamond Index is slightly down by 0.2 percent, with fancy blues up 4.7 percent and fancy yellows and fancy pinks down 2.5 percent and 0.6 percent, respectively. Compared to the same period in 2015, the Fancy Colour Diamond Index is up 0.7 percent with fancy blues and fancy pinks up 8.1 percent and 1.2 percent respectively, and fancy yellows down 4.1 percent.
The Fancy Colour Diamond Index is published by the non-profit Fancy Colour Research Foundation (FCRF), and tracks pricing data for yellow, pink and blue fancy colour diamonds in three key global trading centers – Hong Kong, New York and Tel Aviv.
FCRF Advisory Board Chairman Eden Rachminov said: “As far as supply is concerned, 2017 and the year before were record low years for blue fancy colour diamond production from mines. The majority of the blues that are coming into the market are pre-owned stones. Manufacturers have seen a significant drop in availability across all sizes and qualities, and consequently prices have continued to increase. Going forward, the market will have to adjust to a lower “new normal” supply level for blue fancy colour and pinks in the high saturations levels.”
There is common misconception that a diamond exhibiting fluorescence under ultra violet light has some kind of colour defect or transparency issue.
This NOT true at all. The naturally occurring fluorescence phenomenon is a unique completely hidden feature, which is present to some level in approximately 30% of all diamonds.
The effect is seen in Diamonds which have Carbon bonds which include boron.
Boron causes the diamond to glow when held under a powerful ultra violet light also known as blacklight.
The amount of boron in the Carbon bond making up the diamond will determine the level of fluorescence. Fluorescence is rated by the Laboratory as Very Strong, Strong, Medium, Faint, None. This relates to the strength of the fluorescent glow under ultra violet light.
Laboratories use fluorescence as a means of identifying the diamond along with many other characteristics found in natural diamonds.
May Jewellers and consumers have been led to believe that fluorescence in diamonds will negatively affect the colour or transparency.
Again this is NOT true. Fluorescence has a tendency to make the middle to lower colour diamonds in the colour chart look whiter than the same colour would with no fluorescence. More obvious when viewing the diamond from the table view or top.
Therefore fluorescence has very little, to no negative effect on the diamonds colour or transparency. Diamonds are more likely affected by heavy graining or microscopic clouds.
This is good for the buyer as misinformation has caused consumers to be wary of a UV responsive or fluorescence diamond. This has caused diamond dealers and jewellers to discount these diamonds based on the level of fluorescence in the diamond the same colour and clarity.
Conclusion: save some money and take advantage of the lack of knowledge in the market.
Production will cease at the De Beers Victor mine in Canada in 2019, the company announced Wednesday.
The Diamond Mine in Ontario started production in July 2008 will continue to operate until the open pit is exhausted. This is in line with the company’s original study of mine and the plan for the project.
The mine has yielded 7 million carats of rough exceeding the forecast of 6 million carats predicted for its life of mine.
De Beers discovered the Victor kimberlite cluster in 1987 the first economically viable mine in Canada.
Due to resources dwindling Beers’ joint ventures will close four diamond mines by 2022.
Namdeb is a DeBeers project with the government of Namibia, Will close the Elizabeth Bay mine at the end of 2018 followed by the Daberas deposit at the end of 2019 and Sendelingsdrif in 2020. The main asset Southern Coastal will close in 2022.
Production saw a shift to offshore assets this past year. For the first nine months of 2017, Debmarine’s production surged 22% to 1.1 million carats.
Subdued world economic growth will make the next few years challenging, mainly due to negative impacts forecast in exchange rates and other indices.
A 34.17 carat Fancy Vivid Yellow Rough Diamond was recovered by Almazy Anabara a mining company affiliate of Alrosa.
This is the Alrosa diamond mines largest fancy colored rough this year.
The diamond was found at its Ebelyakh alluvial mining deposit in the remote region of Yakutia in northeastern Russia.
The Vivid Yellow Diamond will be sent to Alrosa in Moscow at the end of the month for a detailed assessment, but the company said it is a transparent intense yellow crystal with a minor inclusion.
This year Almazy Anabara recovered a 27.85 carat pink diamond the largest pink stone in Alrosa’s history.
The new Premier models in mother of pearl have extraordinary show of depth.
The Premier Collection was the first watch collection introduced by Harry Winston in 1989, The collection captures the pioneering spirit of Harry Winston.
With the Automatic 36 mm Harry Winston has embraced the theme of nature. The Caliber HW 2014, which provides a power reserve of 72 hours.
