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
The World Federation of Diamond Bourses (WFDB) has noted with concern the growing tendency of undisclosed synthetic diamonds to enter the market.
The Federation has put out an official warning that it will not stand for the passing off of synthetics as natural. The diamond and Jewellery industry needs to understand that they are personally responsible for what they sell, which is why it is of the utmost importance to know your supplier and the legitimacy of their product whether it is ensuring they are Kimberley Process compliant or disclosing synthetics.
The law is clear and the punishment for fraud will be pursued. The WFDB will work with all legal agencies across the globe to assist in the prosecution of those who participate in this type of fraud in the diamond industry.
DCLA is the only laboratory that guarantees all diamonds have been tested for treatments and natural origin. DCLA is the only laboratory working to the International Diamond Council (IDC) rules in Australia.
An Argyle 1.56 ct, fancy red diamond, has sold for over $2 million the highest price per carat for an Argyle produced diamond ever.
Another 2.51 ct fancy deep pink diamond has set a record for the highest price for a Pink diamond. The total tender has sold but the value for the 64 stones ranging in size from 0.20 carats to 3.02 cts was not disclosed by the Argyle mine in Australia.
The largest fancy vivid orange diamond 14.82 carats will be the top lot in Christie’s Magnificent Jewels sale to be held in Geneva. It is expected to sell for as much as $20 million.
Orange colour is the result of nitrogen in the diamonds atomic structure, present during the diamond’s creation.
The 118 carat D Flawless Diamond was recovered at one of the mines of South Africa in 2011. Its weight was 299 carats before it was polished.
The exceptionally rare diamond was auctioned off by Sotheby’s on Monday for $30.6 million. While the new owner is unknown it is estimated that more than 80 percent of large rare diamonds have been purchased by Asian buyers.
The Pink Star a 59.60-carat, internally flawless, fancy vivid pink, type IIa diamond will be up for sale at Sotheby’s Geneva.
The Pink Star originally a 132.50-carat rough diamond that was recovered by De Beers in South Africa in 1999 was then cut and polished by Steinmetz Diamonds taking two years to finish.
The diamond was first shown by Steinmetz in Monaco in 2003.
With a presale estimate in excess of $60 million the exceptional diamond is expected to sell November 13.
The Pink Star weighs more twice the 24.78-carat Graff Pink diamond, which reached a world auction record at $46.2 million at Sotheby’s Geneva in 2010.
The 257 carat diamond is from Karowe Mine in Botswana.
The AK6 kimberlite, has reported the recovery of 47 diamonds of sizes greater than 50 carats, including 14 that exceeded 100 carats. The Karowe mine continues to outperform with the consistent recovery of large, high value diamonds, the recovery of this magnificent 257 carat diamond, along with the recovery of a significant parcel of larger stones over the past 6 months, strengthens our understanding of the resource at Karowe, said president and CEO William Lamb.
Mr Zamel the third generation diamantaire from the original Zamel family from Adelaide. After 6 years as a control grader at DCLA, Matthew assumes responsibility as DCLA head of Laboratory Director.
Mr Zamel brings years of experience in diamond grading and diamond industry knowledge. Mr Zamel’s history in the in the diamond industry extends back three generations as one of Australia’s best known and respected diamond and Jewellery families. Mr Zamel’s extensive knowledge and technical ability makes him an important asset to the company and trade.
For any further information on services and pricing, please call or email Mr Zamel at DCLA.
$520 million De Beers August sight after sightholders refused a significant part of the goods on offer. De Beers have adjusted prices on some cheaper Indian and rejection boxes.
The Indian rupee fell to a low of 69.22/$1 during sight week. The currency has lost fell 8.1 percent in August, recording its worst month since 1992.
The sightholders said that the adjustment wasn’t enough to make a difference for the devaluation of the rupee against the US dollar, which has affected the Indian diamond manufacturers.
This has cause a liquidity problem in the manufacturing sector as banks have become more prudent in their lending to the industry. Activity on the secondary market is limited as people are not buying without 90 to 120 days credit.
October site will be the final sight that De Beers holds in London. The company will transfer its sightholder sales to Gaborone, Botswana by the November sight.
Sotheby’s Hong Kong Magnificent Jewels is offering the 7.59 ct fancy vivid blue round diamond as the top lot.
Known as the Premier Blue the internally flawless round brilliant diamond is the largest fancy vivid blue round diamond ever graded by the GIA and is expected to make around $19 million.
The incredibly rare diamond will go on tour throughout Asia as well as in Geneva, London, New York and Doha at before the auction in Hong Kong. Blue diamonds seldom come to market and have been coveted by royals and celebrities for centuries
