The diamond industry is a very dynamic, fluctuating, surprising but most of all stunning market where all kind of updates will blow you away again and again. Definitely, these updates of the first week of May next to the major sale of the “Oppenheimer Blue” are surprising with sales announcements of 2 unique colored pear shape diamonds and the announced sale of second largest diamond of the world. Followed by statistics that the blue diamond color prices are surpassing the other colors and the engagement ring of Kate Upton that had blown us away since it weighs 8 carats. Read on to find out the 6 updates of May 2016 first weeks.
• The second largest diamond of the world is estimated to fetch 70 million next month
Recently this 1,109-carat diamond (size of a tennis ball) came back in the diamond industry news since it is going up for auction at Sotheby’s next month in London. The diamond that has the name Lesedi la Rona and was found in Botswana last year November is estimated to be three billion years old and most mind-blowing of all, estimated to fetch 70 million! The diamond size of this rare diamond is around 66.4x 55 x 42 mm!
Sotheby comments that it is a huge honor to be entrusted with this sale that is simply outstanding and a discovery of a lifetime. Not in more than a 100 years a diamond-like Lesedi la Rona (“our light” in Tswana language) was found. The Gemological Institute of America (GIA), which is the best grading lab for diamonds, comments that it is from top color and transparency making it exemplify to ‘limpid’ which is commonly associated with type IIa diamonds. These type of diamonds are fewer than 2 percent of all quality diamonds.
The Lesedi la Rona will be on view at Sotheby’s New York on May 7 and in London June 18 until 28 before going under the hammer June 29.
• Hong Kong Jewelry company buys for $130 million HKD the Aurora Green
On May 31 Christie’s sold the amazingly rare Aurora Green to HK Jewelry Company for 16.8 million USD. Resulting in a $3.3 million USD per carat since the green diamond weighs 5.03-carat. The green colored diamond is a rectangular cut with VS2 clarity and fancy vivid color mounted in a golden ring surrounded by circular-cut pink diamonds. The Aurora Green is the world’s largest natural fancy vivid green diamond according to auction house Christie’s. The price per carat smashed the world record for green diamonds even though the diamond’s record selling price was towards the lower end of its pre-sale estimations of $16.2 million USD to $20 million USD.
• The Unique Pink sold for $28 million at Geneva Auction
In Geneva, the Unique Pink, the largest Fancy Vivid pink diamond ever offered at an auction got sold for $28 million. This diamond price of this rare pear-shaped diamond has set a new world record for fancy vivid pink diamonds. According to David Bennett, worldwide chairman of Sotheby’s it is the highest diamond price ever paid for a fancy vivid pink diamond. While the diamond fetched to the lower part of the estimated price which was $28 million – $38 million it still broke the record. The buyer of The Unique Pink is an Asian Private
• Kate Upton shines proudly her stunning 1.3- 1.5 million engagement ring
Another engaged couple in Hollywood, this time it is up for Kat Upton! She proudly showed her 8-carat diamond ring on the red carpet during the MET- Gala. Next, to the 8-carat diamond, the ring is decorated with sparkling pave diamonds in the diamond-studded band. The jeweler worked together with Justin (Kate’s soon to be hubby) on making the perfect one-of-a-kind ring that is rare and exceptional in quality, just like their love. The couple has been dating for the last three years and is, as Kate says, not in a rush to walk down to aisle since they are currently enjoying their engagement period.
• Impossible 2.83-carat rare violet diamond shall soon do viewings in Copenhagen, Hong Kong and New York
In an Australian mine an exceptional, incredible rare violet diamond has been discovered. The diamond was in its rough form the largest of its kind ever found on Australian soil and was polished into a 9.17-carat and finally cut to a 2.83-carat oval shaped diamond. The violet diamond named “The Argyle Violet” is predicted to sell for more than $4 million later this year. Because violet diamonds are not often seen in the diamond industry, in 32 years the Argyle mine only produced 12 carats of polished diamonds and believe us that is not much since 90% of the world’s rare pink diamonds come from this mine and because it is the only source for rich violet diamonds.
• Blue diamond color prices surpass other colored diamonds
At diamond auctions, the blue diamonds are selling for record prices such as record price hit in Asia recently for a 10.10-carat. This very rare diamond got sold for 31.8 million breaking diamond price of highest bid every paid in Asia. According to the Fancy Color Diamond Index, the fancy blue diamond prices outperformed the yellow and pink diamonds this first quarter. Because the prices of the blue gems rose 1.7% compared to the 1.8% drop of fancy yellow diamonds. In addition, fancy colored pink diamonds nudged only 0.3% compared to blue.
Stay tuned for more diamond industry news, since there is always something exciting happening!