Viewing entries tagged
luxury diamonds

'Pink Star' diamond sells for record $71.2 million at auction

The "Pink Star" weighs 59.60-carats, and is the most valuable polished diamond ever offered at auction. Image courtesy of CNN, Sotheby’s

The "Pink Star" weighs 59.60-carats, and is the most valuable polished diamond ever offered at auction. Image courtesy of CNN, Sotheby’s

Courtesy of CNN

It took nearly two years to cut the Pink Star from a rough diamond. It first appeared in public in 2003 and later became part of an exhibit at the Smithsonian National Museum of Natural History, home of the famous 45.52 carat blue Hope Diamond. It was also displayed at the Natural History Museum in London.

Tuesday's winning bid surpassed the previous world auction record for a pink diamond -- $46.16 million for the 24.78 carat Graff Pink, sold at Sotheby's in Geneva in 2010.

Chow Tai Fook has renamed its new possession the CTF Pink Star in memory of the company's founder and to commemorate the brand's 88th anniversary.

A diamond as rare as you.

For centuries, natural color diamonds have been regarded as the world’s most sought-after gems, from collectors to royalty. Diamonds so rare that they are only discovered in a few locations on earth, they are likened to works of art, hidden treasures and rare books.

One of the exciting factors involved in natural color diamonds is the origin of how they get their unique colors, where they are found and why they are so unique.

Rare Multi-Color Diamonds part of the L.J. West Diamonds collection.

Rare Multi-Color Diamonds part of the L.J. West Diamonds collection.

  • Tiny amounts of nitrogen created yellow and orange shades.
  • The element boron created blues.
  • Hydrogen causes the color violet to appear.
  • Tremendous pressure occasionally would realign or spiral the diamond’s crystal structure, creating red, pink, purple and brown diamonds.
  • Millions of years of natural radiation produced green diamonds.

Color diamonds have been around since the beginning of diamonds discovered approximately 3000 years ago in India; it is only the last decade where the desire and appeal for them have entered the consumer market. The growing awareness of rarity and value have created increased demand for natures most special diamonds At auction natural color diamonds are exceeding record prices with the 14.62 carats Oppenheimer blue diamond selling for an impressive $57,541,779 USD at Christie's in May of 2016. This blue diamond was the largest vivid blue diamond ever to sell at auction and holds the current record for highest price paid for any jewel at auction.

In 2014, the 12.03 fancy vivid blue “Blue Moon of Josephine” diamond sold for $48.4 million and still holds the current price per carat record for any public sale at auction at $4 million per carat. In 2015, a collector paid US$28,523,925.00 for a 16.08 Fancy Vivid Pink Diamond, setting a new world record for the highest price paid and highest price paid per carat at $1.773,875.00 for a Fancy Vivid Pink diamond.

These values highlight the exceptionally rare stones but are proven examples of the desirability for them.

The 14.62 carats Oppenheimer Blue Diamond (right) $57,541,779 USD at Christie's in May of 2016, Scott West Patriot Earrings (bottom) featuring rare Argyle Pink and Blue diamonds.

The 14.62 carats Oppenheimer Blue Diamond (right) $57,541,779 USD at Christie's in May of 2016, Scott West Patriot Earrings (bottom) featuring rare Argyle Pink and Blue diamonds.

Any buyer or collector has a spectrum of color to select from in natural colored diamonds, and there is no right or wrong in choosing what diamond can appeal to your taste. Prices for natural color diamonds can start from $100 up to $1 million per carat plus, the characteristics in determining a stones value can vary with the exceptionally rare stones being valued by rarity, size and color. However, the main reason to own any is all the same – beauty, is the ultimate reason to own a natural color diamond!

A natural color diamond is as rare as you, no color is the same and no diamond is alike. The diamonds can be compared to the endless variety of flowers on our earth, a colorful rainbow in the sky and the unique personalities found all around the world.

Consider finding a color diamond that is as distinctive and alluring as you are. You will not be disappointed in your quest to do this.

Chong Hing jewelry display 14 million yuan pink diamond

From the New York Choi Wan West family to provide the balance of more than 40 diamond jewelry at the weekend in San Gabriel Changxing jewelry watches and clocks gold line display. From left to right: jewelry family Gino Di Geso, Scott West, Changxing Jewelry Executive Director Valerie Lee, founder Lee Yu Miao Ling, Paul Sterman, diamond expert Aaron Celestian. (Reporter Yang Qing / photography)

From the New York Choi Wan West family to provide the balance of more than 40 diamond jewelry at the weekend in San Gabriel Changxing jewelry watches and clocks gold line display. From left to right: jewelry family Gino Di Geso, Scott West, Changxing Jewelry Executive Director Valerie Lee, founder Lee Yu Miao Ling, Paul Sterman, diamond expert Aaron Celestian. (Reporter Yang Qing / photography)

Reporter Yang Qing / San Gabriel City reported

December 17, 2016, 8:32 pm

More than 40 pieces of priceless diamond jewelry in the weekend in San Gabriel Changxing jewelry watches and clocks gold line display, so that the Southern California Chinese community Christmas and New Year shine. One of the top Zhenhan pink diamond ring up to 14 million yuan, a rare.

"The reason why the Southern California Chinese community chose to display these top treasures, because the Chinese people know a lot of goods," from New York's third generation descendant of the jewelry family Scott West, 50 years ago, we know the diamond is usually pink And blue, and now hope to all the world's top diamond, are introduced to the Chinese community.

The 3000 family of diamond jewelry offered by the West family will be on display at the Los Angeles County Museum of Natural History from this weekend until March 2017. Aaron Celestian, deputy curator of the museum, said the Natural History Museum held very few diamond exhibition, this is the largest diamond exhibition in recent years. The last diamond exhibition in 2014, "was only a diamond jewelry display."

Celestian, who works on diamonds and jewels, says that 99% of the museum's diamonds are white, because white is the most traditional and likable. "But it's not the color diamonds that are not popular, It is too rare and rare, very difficult to find.

Yellow, pink, blue, green, red, purple, orange and other colors, including yellow diamonds are often experts called "very rare"; powder , Blue and green diamond as "extremely rare"; red, purple and orange drill for the "top Jane Han."

Celestian said that the color of diamonds is usually divided into light color, color, rich color and brilliant color four levels, the heavier the color, the more valuable. "Celestian said," color diamond jewelry color, two look at the size of three to see cut. He explained that the natural color diamond is precious, because very rare, the production environment at least a few miles below the surface, but also requires very special temperature and light conditions.

Changxing Jewelry gold line, said that although this rare diamond display only two days, but Changxing CEO Valerie Lee as a license gem identification division, ready to provide gemstone identification for the public. At the same time, Changxing also have these top diamonds of the drawings and description, ready to help interested people back to the real parts, so that buyers see.

Article courtesy of World Journal

Coloured diamonds outshine whites as top mine’s sparkle fades

Jamie Smyth in Sydney of Financial Times

Pink and violet stones surge in value amid uncertainty over site where 90% are found

Over a quarter of a century Larry West has scoured the globe looking for some of the world’s rarest coloured diamonds. This week he secured a big prize, the Argyle Violet, which he bought along with 15 other coloured stones for more than $10m. 

“At 2.83 carats, this is the largest and most valuable violet diamond ever recovered from the Argyle mine,” says Mr West, founder of New York’s LJ West Diamonds. “You could fill a garbage truck with the rough diamonds produced from the mine every year, an ashtray with pink diamonds but only a half teaspoon of violets,” he says. 

Rio Tinto’s Argyle mine, which is based in the remote north-west of Australia, produces about 90 per cent of the top-quality red, pink and violet diamonds dug up worldwide. The stones are extraordinarily rare, accounting for 0.1 per cent of the mine’s annual output with the remainder made up of more affordable champagne and cognac stones used in the fashion jewellery sector in the US, China and India. 

The Argyle Diamond Mine in Western Australia

The Argyle Diamond Mine in Western Australia

Uncertainty over the Argyle mine’s future, as well as growing appreciation for rare pink diamonds among the super-rich, is prompting a surge in the value of these coloured stones even as the price of traditional white diamonds falls on world markets. 

A 9.14 carat pink pear-shaped diamond is expected to realise $16m-$18m when it is auctioned at Christies in Geneva next week.

“Pink diamond prices have tripled over the past 15 years and on average would be at least 25 to 30 times the value of white diamonds,” says David Fardon, chief executive of Linneys, one of 35 ateliers mandated to buy coloured diamonds from Argyle. 

By comparison, global sales of diamond jewellery fell in 2015 for the first time in six years, declining 2 per cent to $79bn. Sales of rough diamonds fell 30 per cent.

Mr Fardon says the scarcity of coloured pink, red and violet diamonds mined at Argyle has enabled them to buck the downward trend in diamond prices. He says they have become a collectable item, with some of his clients buying the stones to include as part of their retirement savings fund. 

Prices are rising 15 per cent a year because of increasing awareness of rare coloured diamonds, growing demand from China and India and the fact production at the Argyle mine is only guaranteed until 2020, says Mr Fardon.

In 2013 Rio said it was extending Argyle’s life until 2020 by building an underground extension to the existing open-cut mine. But it is uncertain whether Rio will sanction any new investment to extend the Argyle mine’s life beyond that date, in part because the valuable pink diamonds make up a small fraction of the mine’s total output.

“The odds are the mine will close a year or two after that, which means these stones will become more and more valuable,” says Mr West, one of the world’s most prodigious buyers’ of Argyle pinks. 

Mr West says he plans to show the Argyle Violet in an exhibition at the Museum of Natural History in Los Angeles to raise awareness of coloured diamonds.

“It’s important to let the public see them and get the word out. That can only add value to the market,” he says.

Blue Belles

Joyce Kauf of Rapaport Magazine

Blue diamonds have been stealing the spotlight as prices skyrocket.

Blue Diamonds have become celebrities on the auction scene with all the attendant fame. The fan fare continues this month with an 8.01-carat fancy vivid blue diamond ring by Cartier, named The Sky Blue Diamond, set to be auctioned at Sotheby’s Geneva. But what accounts for the soaring interest and stratospheric prices that these diamonds command in today’s market? From gemologists to diamond brokers to the heads of jewelry sales at the two major auction houses and an industry expert, the answer can be summed up in two words: extremely rare.

A rare Natural Intense Blue Diamond set in a white diamond necklace by Scott West by L.J. West Diamonds

A rare Natural Intense Blue Diamond set in a white diamond necklace by Scott West by L.J. West Diamonds

“more and more people are discovering the beauty of a blue diamond,”
— Larry West

“There is so much more buzz now. There is more awareness of how rare these diamonds are,”explains Larry West,president of L.J.West Diamonds, a color diamond specialist based in New York City. “Previously, information about these exotic stones was only available to the most involved collectors.But now there are more discussions within the high-end jewelry trade.”And while collectors might consider a blue diamond the ultimate investment, “more and more people are discovering the beauty of a blue diamond,” says West, who admits to being“passionate”about these diamonds.

“Perhaps one in 10,000 exhibits any color. A diamond with any evidence of blue color—even if the color is very faint—is less than one-tenth of 1 percent of what would be mined in one year.” Historically, some blue diamonds were discovered in the Golconda region in India; the Hope Diamond has been traced to that area.However, the only source to produce a very small but consistent supply of blue diamonds is the Cullinan Mine in South Africa,owned by Petra Diamonds.