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Companies that bought diamonds from De Beers between 1994 and 2006 paid higher prices than they would have in a truly competitive open market.

The DMIA had played a significant role in bringing the suit to a successful conclusion by filing papers in favour of the settlement of a class action suit against De Beers.

It is a milestone moment. And normalises business for De Beers in America.

An armed man wearing a bandana or scarf and a cap, brandishing an automatic weapon stole jewellery worth an estimated value of $53 million.

The brazen broad daylight heist took place at the diamond exhibition in the French Riviera resort of Cannes.

"Everything happened very quickly and without violence," the prosecutors said. The diamond heist was one of the largest in years in France.

De Beers, the world’s largest diamond producer, introduces forward sales contracts for buyers in its rough-diamond auctions.

Owned by Anglo American, The De Beers Company is moving the purchasing, production and sales base for its diamond auctions to Singapore in November.

Forward trades will allow buyers to determine the volume of goods they want to purchase over a given period.

De Beers noted that 10 percent of the rough diamonds are sold via the auction platform.   

Gem Diamonds recovered a 100 carat white, type IIa diamond from the Letšeng mine in Lesotho. Clifford Elphick, Gem Diamonds’ CEO, reported that the company has recovered three diamonds weighing more than 100 carats at Letšeng in the past two months.

Letšeng’s June export achieved an average price of US$2087 per carat, for a total value of US$22m. This compares to an average value of US$1599 per carat which was achieved for the first three tenders in the year.

 

Petra CEO Johan Dippenaar, said, “We are delighted to have concluded such a successful sales process for this important blue diamond.

The process was highly competitive in terms of bids received, due to the incredible rarity of a blue stone of such size and quality. This result further serves to highlight the Cullinan mine’s unique position as the world’s most important source of blue diamonds.”

 The 25.50 carat rough blue diamond which recovered from its Cullinan mine in South Africa in April sold for $16,910,180 or $663,144 per carat.

Let’s face it: everything you buy today in store is also available online, and often for far cheaper. While some thought it was a fad at first, Internet shopping is here to stay. These days, if you were looking at a pair of runners, you would be silly not to look at the online offers first!

At the DCLA laboratory, we are asked everyday, “How does this work with diamonds and diamond jewellery?”

While buying diamond jewellery and diamonds online may seem like a simple choice, the truth is that there is one huge difference that puts the online jewellery industry in the “customer-beware” box.  The difference is that when it comes to diamonds, you have no clue what you’re buying without an independent certification. If you buy a TV online, chances are it will be the same model, make and carry the same guarantee available at the store – but with a diamond, however, you have no idea whether what you’re paying for is what you really get.

When purchasing a diamond online or not, you should always ensure that it is covered by an IDC-recognised certification. The IDC rules are the internationally-recognised and accepted rules for diamond grading and diamond certification as set out by the WFDB, IDMA and Cibjo – the world’s highest authorities in diamonds and jewellery.

If you buy an IDC-recognised certified diamond from your trusted brick-and-mortar store, you will get the diamond you are expecting. It will undoubtedly cost more than purchasing online, but you will have a face to go with the purchase.

If you buy a diamond online, this is unfortunately a different story.

Local sites seldom own the goods listed. In fact the people trying to sell the diamond probably have never seen the diamond themselves.  This is because the diamonds are not always in stock at the particular store but are instead part of virtual lists populating the site from overseas sellers. These virtual lists are filled with stones that aren’t actually owned by the site you’re viewing them on. Hawked from overseas anonymous sellers, often there’s something seriously wrong with these diamonds that would make it impossible to sell them traditionally.

So are there any safe sites to buy from? Yes, certainly, if the goods listed are actually in stock and available immediately. Make sure you always check that the diamond has an independent diamond certification from a respected laboratory. That way, you’ll always know exactly what you’re getting. Also, never put a deposit on a diamond to be sourced or delivered and never buy a diamond without seeing it first.

Not all laboratories have the same grading system, equipment or official master stones for comparison.  This you will hear from all the recognised laboratories and the honest retailers and dealers. Armed with the correct information from an independent source, you can take charge of the diamond market whether online or off, and get the best deal for your money.

 

The record breaking price achieved at Christie’s in Geneva for the D flawless pear shape which sold for $254,400 per carat,  $26.7 million total.

20 lots sold for prices exceeding $1 million each, and the new owner Harry Winston helped the Magnificent Jewels sale realise $102.14 million total sales.

"A perfect diamond commands a perfect price," Christie’s

Two diamonds were sent to three Accredited Valuers for valuation.

The synthetic diamond pendant had valuations ranging from $4330 to $5700, which is up to $5100 more than its true value.

The man-made diamond ring ranged from $5350 to $6200, which is $5000 more than it’s worth.

The Laboratory created man-made diamonds cost $600 and $1200. Neither of the Synthetics were identified as by any of the Accredited Valuers.

Synthetic diamonds can be created in laboratories by machines that work around the clock to replicate what occurs in nature, subjecting graphite carbon to extreme pressure and temperatures of up to 1500C, machines are able to produce a synthetic diamond in just a few days.

Or by Chemical vapour deposition (CVD) used to produce a synthetic diamond by creating the circumstances necessary for carbon atoms in a gas to settle on a substrate in crystalline form in a matter of hours.

 

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25.5 carat blue Diamond recovered by Petra Diamonds at its famous Cullinan mine in South Africa.

The diamond is a rare blue colour and Petra says the stone is considered to be a “high quality gem diamond of top colour”. Which could fetch more than $10m (£6.5m)?

The World renowned Cullinan mine is known for its large diamonds, including the Great Star of Africa which was discovered at the mine in 1905.

After Red and Purple, Blue diamonds are one of the rarest and most expensive of all diamonds and Cullinan is one of the largest producers of the stones,

Fancy Coloured diamonds are in high demand and because of their rarity are breaking record prices at auctions like Christies in New York earlier this week. Where the 34.65 carat Pink diamond from India sold for $39.3m, or $1.13m per carat.

Christie’s New York is selling the Princie Diamond, a large fancy intense pink diamond from the Golconda region in India.

The 34.65 ct Cushion cut, fancy intense pink stone was originally owned by the royal family of Hyderabad. (Hyderabad where Rulers of the wealthiest provinces of the Mughal Empire.)

The Princie Diamond carries a fabulous provenance and a rich history. This combined with its rare pink colour will attract collectors seeking the best diamonds available today.

After 50 years the diamond will reappear at uk Christie’s auction, and experts expect it to sell for $30 to $40 million USD.