An 11.15 carat pink diamond has been sold for $49.9m in Hong Kong, setting a world record for the highest price per carat for a diamond sold at auction. Auctioned on Friday by Sotheby’s Hong Kong, the Williamson Pink Star diamond was originally estimated at $21m. The gem draws its name from two legendary pink … Read more
Lucara Diamond Corp.’s sales dropped in the third quarter as the company supplied fewer large and expensive stones from its lucrative Karowe mine in Botswana. Revenue fell 31% year on year to $49.9 million, while net profit slumped 86% to $1.8 million, Lucara reported Wednesday. Sales of rough from Karowe declined 36% to $46.5 million, … Read more
France’s finance ministry is auctioning off customs contraband in an “extraordinary sale” featuring platinum bars seized en route to the UK, designer handbags, valuable historic coins, several collections of uncut diamonds and 2,016 bottles of vodka. The 350 lots – valued collectively at about €1m – also include a Volkswagen Golf stopped at France’s border with Spain … Read more
Rough diamonds sales by Debswana Diamond Company jumped 37.5% in the first nine months of 2022, statistics released by the Bank of Botswana showed Tuesday, driven by steady demand for jewellery. A joint venture between Anglo American unit De Beers and Botswana government, Debswana sells 75% of its output to De Beers with the balance … Read more
Christie’s will offer a 41.36-carat Graff diamond ring at its upcoming Geneva auction, predicting it could sell for up to CHF 5 million ($5 million). The square emerald-cut, D-color, VVS1-clarity diamond, which is potentially internally flawless, is one of the top items set to go under the hammer at the November 8 Magnificent Jewels auction, … Read more
De Beers will offer widened concessions to purchasers of larger rough diamonds at its upcoming sight as trading has slowed amid difficult market conditions. The miner will increase its “buyback” allowance to 20% for 1-carat goods and up at the sale, which begins later this month, industry insiders told Rapaport News this week. Buybacks are … Read more
De Beers has released its sales schedule for next year, with the miner holding its usual 10 sights across the 12-month period. The miner sells most of its rough to sightholders through a contract system under which clients make certain purchasing commitments in return for consistent supply. In April 2021, the miner introduced a new … Read more
The American Gem Society (AGS) will close its laboratory operations at the end of this year, with the Gemological Institute of America (GIA) taking on elements of the organization. AGS Laboratories’ intellectual property (IP), technology, research staff and Las Vegas facility will become part of the GIA, the two organizations announced Wednesday. AGS Laboratories will … Read more
Sotheby’s will sell a group of eight fancy-blue diamonds from De Beers across its global Magnificent Jewels auctions, expecting the set to bring in more than $70 million. The stones are cut in various shapes and range from 1.22 to 11.29 carats, with a total weight of 32.09 carats, Sotheby’s said last week. The polished … Read more
The kimberlite cluster is located around 110km north-east of a Finsch diamond mine. Diamond mining company Botswana Diamonds has secured a five-year prospecting licence on ground containing the Reivilo cluster of kimberlites in Barkley West, South Africa. The kimberlite cluster is located around 110km north-east of a Finsch diamond mine owned by Petra Diamonds. According to an … Read more