Rio Tinto Promotes Champagne Diamonds

Rio Tinto Diamonds, the world's largest supplier of champagne diamonds, has released its latest range of champagne diamond promotional materials.

"The new range of promotional materials is aimed at supporting the retailer, educating the consumer and opening up new distribution channels." says Jean-Marc Lieberherr, head of Rio Tinto Diamonds NV, the Belgium-based company that sells the champagne diamonds from its Argyle mine in Australia’s isolated outback.

Rio Tinto Diamonds new material positions champagne diamond jewelry firmly with those consumers who like to express their individuality and appreciate the finer things in life, the company said in a statement. The brochure, sales training program, Web site, and other promotional material are aimed at showcasing the full color palette as well as communicating the versatility and accessibility of these very special gems.

Champagne diamonds from the Argyle mine are dated at several million years old, with the coloration due to stress on the crystal lattice structure as it was formed deep within the earth’s surface. The range of color, from light champagne to deep cognac, that is being embraced by jewelry designers.

"These diamonds mix and match perfectly, not only with each other but also with other colored diamonds, pearls and a variety of gemstones," said Swiss jewelry designer Suzanne Syz.

Rio Tinto Diamonds US representative office is distributing the champagne diamond promotional materials as part of its charter to drive demand for this product category in the U.S. market. Jewelry manufacturers who are interested in developing and promoting champagne diamond collections are encouraged to contact Rio Tinto Diamond's marketing team to learn how they can participate in this turn-key marketing initiative.
Source: jckonline

Amendments to Clean Diamond Trade Act

The Office of Foreign Assets Control of the U.S. Department of the Treasury has added two amendments to the Clean Diamond Trade Act that assist in the gathering of statistical data relating to import and export of rough diamonds in the U.S., the Jewelers Vigilance Committee said Tuesday.

The first amendment emphasizes that Customs will not release a shipment of rough diamonds, without the formal entry documents (a “formal entry for consumption”) regardless of the value of the shipment, JVC said. This amendment clarifies the already existing requirement for this documentation for imports, but makes clear that the documents are required for all shipments, including those under $2,500 in value. 

The second amendment requires all rough diamond importers and exporters in the U.S. to file an annual report by April 1 of the year following the reported period. The report is filed via e-mail with the Office of the Special Advisor for Conflict Diamonds, U.S. Department of State. The first report for the calendar year 2007 is due on Sept. 1.

The report should include contact information regarding the identity of the importer or exporter (name, address, telephone number, fax, and e-mail address) and the total amount of import/export activity for each of the three harmonized tariff codes (7102.10, 7102.21 and 7102.31) that cover rough diamonds for the year reported. This should include the total amount of carats of each classification of rough diamonds imported and exported, the total number of import and exported shipments and information on remaining stockpiles or rough diamonds as of the end of the reporting year, reported both in number of carats and approximate value.

The e-mail address for filing these reports is USKimberleyProcess@state.gov.

Failure to file the annual report can expose a rough diamond importer or exporter to a civil fine of $10,000 for each instance of non-compliance, or criminal penalties of up to $50,000 in fines and 10 years imprisonment.

“The data contained in the annual reports filed by rough diamond traders is protected by U.S. privacy laws and will not be subject to disclosure," said Sue Saarnio, special advisor for Conflict Diamonds, U.S. Department of State. "The new regulations will enhance our statistical data gathering and reporting for purposes of complying with our obligations under the Kimberley Process.”

Cecilia Gardner, JVC president and chief executive officer director of the U.S. Kimberley Process Authority, “This effort to improve the data gathered on imports and exports of rough diamonds will further strengthen the U.S. industry’s efforts to end the trade in conflict diamonds.”     

Saarnio, Vincent Dantone, program manager for Trade Policy Enforcement Programs, U.S. Customs and Border Protection, and Kristen Nespoli of the U.S. Census Bureau, will be at JVC’s exhibit booth, L-13, at JCK Las Vegas, June 1 and June 2, to provide guidance to rough diamond importers and exporters on the Kimberley Process and Clean Diamond Trade Act regulations. 

"Efforts to facilitate data collection of rough diamond trading in the U.S. meet the industry's goals of improving international implementation of the Kimberley Process," Eli Izhakoff, chairman and CEO, World Diamond Council.
Source: jckonline

Faberge pursues deal with Alrosa

Will Russia's Faberge become next big diamond brand?






London— Faberge is seeking a deal to market gems from state-run Russian diamond giant Alrosa, a top official from Pallinghurst Resources, which owns the Faberge brand, told The Moscow Times Friday.

Pallinghurst partner Sean Gilbertson told the paper that the firm hopes to take advantage of a European Union mandate requiring Alrosa to stop selling its diamonds through top-ranking De Beers as part of an anti-monopoly deal.

"We think there's a unique opportunity to take Russian diamonds from Alrosa and help them with this marketing problem by creating a range of Faberge Russian diamonds and at a stroke creating one of the most powerful diamond brands in the world," he told the paper.

He said it was too soon to comment on any talks with Alrosa or how the project was progressing.

De Beers, which sold $600 million worth of Alrosa diamonds in 2006, has been phasing out Alrosa sales and is due to completely stop marketing the Russian stones by 2009.

The move to get in on Alrosa's cache is part of plans to return Faberge to its Russian roots and put out its first collection of art objects and jewelry next year, Gilbertson said.

Faberge previously announced plans to market branded colored gemstones, including emeralds and rubies. Under the plan, all Faberge gems will have a tiny laser inscription with the brand and mine, designed to appeal to consumers worried about conflict diamonds.
Source: nationaljewelernetwork

Generic diamond promotional campaign heats up

At the recent IDMA meeting in Shanghai, China, industry members expressed interest in an international marketing campaign for diamonds.

Discussions on an international marketing campaign for diamonds got underway last week in Shanghai, China, at the biennial meeting of the International Diamond Manufacturers Association (IDMA).

Informally called the "global diamond manufacturing and promotion campaign," the goal of the effort is to bring together major industry players to establish a worldwide advertising scheme to promote diamond sales.

Jeffrey Fischer, president of Fischer Diamonds and immediate past president of the IDMA, said he was "very pleased" with the results of the meeting, which was held in conjunction with the 33rd World Diamond Congress.

He said all the appropriate parties— or "major players"—all expressed interest in the campaign.

The next meeting regarding this new marketing effort, which was the brainchild of the IDMA, is slated to take place in Mumbai, India, in September, around the time of the second annual Indo-U.S. Jewelry Business Relationship Development Conference, slated for Sept. 8-13.

Fischer said in choosing the next meeting location, they were looking for a location that was acceptable to all parties involved, and India offered to serve as host.

In addition to the marketing campaign kickoff, during the IDMA meeting, Israeli diamantaire Moti Ganz was elected president of the IDMA, replacing Fischer, who had served the limit of four years.

Ganz, who is also chairman of the Israel Diamond Institute, will serve a two-year term, with the possibility of being elected to a second term.
Source: nationaljewelernetwork

Five diamonds stolen at HCM City int’l jewelry fair

Three foreign diamond traders lost five diamonds at the International Jewelry Vietnam 2008 held at the International Fair and Exhibition Centre on Hoang Van Thu road, HCM City at noon on May 2.

According to HCM City police, an Indian trader, Kumt Parkn Jkumar Vitth Laai, lost a diamond worth $37,000; an American seller, Bi Jam Andoo, lost four diamonds worth $15,000; and an Italian man, Trademax’s Bari Mario, lost a necklace and a bracelet worth $2,300.

At the time the incidents happened there were five Chinese people at the three above stalls. Guards at the International Fair and Exhibition Centre detained one of the five Chinese men and handed him over to police for investigation.

Police found six fake diamonds on this man’s person but they didn’t detect any evidence related to the three above incidents so they had to release him.

Police are further investigating the case.

International Jewelry Vietnam 2008 was organised from May 2-4, attracting more than 100 jewelry firms from 15 countries and territories who brought a large volume of gems and jewelry. The event was protected by 15 guards. Some traders even hired extra guards to protect their stalls.
Source: vietnamnet

In diamond world, brown is new white

This Le Vian earring and ring set features pave "chocolate" diamonds set in 14-karat white gold. The 2-carat earrings retail for $4,048 and the 1.5-carat ring sells for $3,498.

Long the redheaded stepchild of the diamond world, earth-tone diamonds in varying shades are now emerging as a favorite son.

Just don't call them "brown."

Marketed as "cognac," "champagne" or "chocolate," brown diamonds are in demand by today's fashion-conscious consumers who want jewelry that can be matched to their outfits.

Brown and yellow are the two most commonly found colors in the diamond world. "Common" is a relative term, however, as only one out of every 10,000 diamonds officially qualifies as a colored diamond, says Robert Mays, executive director of the Natural Color Diamond Association (NCDIA).

May recommends that jewelers who are interested in selling colored diamonds begin with the more plentiful—and comparatively affordable—browns before spending top dollar for the extremely rare and expensive colors such as pink and blue.

"Champagne, cognac and chocolate diamonds are the perfect entry point to come into the market if you want to get into the colored-diamond business," May says.

Australia's Argyle mine is the world's largest producer of brown diamonds, with a haul between $150 million and $200 million annually, according to mining company Rio Tinto. The NCDIA says brown diamonds are also found in southern Africa and Siberia.

Liz Chatelain, chief executive officer of MVI Marketing and co-founder of the Indo-Argyle Diamond Council, began working with the Argyle mine in 1989, and she says at that time, the general attitude toward brown diamonds, or "champagne," as Argyle has termed them, was negative.

"The trade has always been the gatekeepers," she says. "They did not like, or think the consumer would like, champagne diamonds. They had always been taught by De Beers that the best diamonds were white, therefore champagne diamonds had no place in jewelry."

But, she says, that started to change around 1992 when David Yurman made his first champagne-diamond piece. Brown diamonds as a category then began to pick up steam.

Chatelain says today's high-end designers mix champagne diamonds with white ones.

"It is still a small part of the diamond jewelry business but adds style and interest to jewelry collections around the world," she says.

When converted into polished diamonds and mounted into jewelry, brown diamonds constitute $4 billion to $5 billion of the world's retail diamond jewelry sales each year, or roughly 7 percent, according to Rio Tinto.

Le Vian is another well-known brand that contributes to brown-diamond retail sales.

Headed by Eddie LeVian, CEO, designer and director, Le Vian has its own brand of "chocolate" diamonds.

"The chocolate color is one that women understand," LeVian says, noting the idea of "chocolate" appeals to women more so than "champagne" or "cognac."

Celebrities who are dipping into the trend include hotel heiress Paris Hilton, tennis pro Serena Williams and Heroes actress Hayden Panettiere.

"It's everywhere," LeVian says. "They are all drawn to it."

And while the average retail jeweler won't have a great number of Grand Slam champions or Heroes as customers, LeVian points out that celebrities are no different than other women.

Jewelry, LeVian says, is no longer about a woman's husband buying her one piece she keeps her entire life.

Price points for Le Vian chocolate pieces range from $200 to more than $100,000.

Another designer cluing in to the brown trend is Justine Simmons, sister-in-law of Simmons Jewelry Co. owner Russell Simmons.

Simmons launched "Brown Sugar," which is being produced by Simmons Jewelry Co. on the Home Shopping Network (HSN) and HSN.com.

With price points ranging between $199 and $599, Simmons says she has designed a line that is fashionable and can be worn with everything from a ball gown to blue jeans.

Future plans call for expanding into men's jewelry and incorporating brown topaz and quartz pieces into the line.

Shades of rare

Only one in 10,000 diamonds that comes out of the ground qualifies as a colored diamond. Here is a guide classifying natural-colored diamonds by rarity of color.

—Rare: Brown, gray, black

—Very rare: Orange, yellow, olive

—Extremely rare: Pink, blue, green

—Most rare: Red, purple

Source: Natural Color Diamond Association

IDL to open Turkey's first diamond lab

International Diamond Laboratories (IDL) has announced that it will open Turkey's first diamond lab at the headquarters of the Istanbul Chamber of Jewelry (IKO).

IDL made the announcement during the Istanbul Jewelry Show, being held from March 26-30.

According to a release from IDL, a team of "international experts" will run the Turkish operation, and they expect to issue the first diamond certificate in June.

The lab will offer both diamond and jewelry certification services.

The opening of the lab is in reaction to the growing consumer demand for diamonds in Turkey.

"Turkey has become a leading jewelry manufacturing center and a rapidly growing diamond jewelry consumer market," IDL Chief Executive Officer Peter Meeus said in a statement. "A presence in Istanbul is a logical next step for IDL. We are delighted to have the support of a trade organization like IKO."

IKO President Allaattin Kameroclu said they are happy to welcome the IDL lab to Istanbul.

"High-quality certificates, offered locally to the business community, are essential for the further development of the Turkish diamond and jewelry business," he said. "IDL has the right products and services to respond to that need."

The IKO represents 6,000 wholesalers and retailers from the Istanbul region.

IDL, which provides certification for diamonds and jewelry, has offices in Antwerp, Belgium; Dubai, United Arab Emirates; and Mumbai, India.
Source: nationaljewelernetwork

Israel Diamond Industry at Basel

The Israel Diamond Institute said that its annual high profile breakfast press conference at BaselWorld 2008 will focus on diamonds as a symbol of luxury.

The press conference will be held on April 4, at 8:45 am in the Osaka - Samarkand Congress Room of the Basel Convention Center. Eli Avidar, managing director of the IDI Group of Companies will present an update on the Israeli Diamond Industry “2007 – 2008: Challenges, Responses and New Directions.”

A panel discussion will feature Israeli companies who are leading the way in the luxury product market, by linking up with high-end jewelry and watch brands, or by providing one of a kind, large stones for special pieces. The companies are: Korn Diamonds, Gemstar-Eshed and YEI-Yahlomei Espeka.

At the exhibition IDI will once again represent The Israeli Diamond Industry at its booth in Hall 3.1, NO1. There will be a strong presence of Israeli diamond companies, exhibiting for the most part in Hall 3, where the loose diamond category is concentrated.

IDI Chairman Moti Ganz said that the Israeli Diamond Industry is keen on expanding its presence in European markets.

“Europe is a key market for the Israeli Diamond Industry. We believe that there is significant potential for future growth here. Our participation in BASELWORLD underscores our commitment to meeting the needs of the European market while furthering our growth internationally,” Ganz said.
Source: jckonline

Israel Diamond Industry at Basel

The Israel Diamond Institute said that its annual high profile breakfast press conference at BaselWorld 2008 will focus on diamonds as a symbol of luxury.

The press conference will be held on April 4, at 8:45 am in the Osaka - Samarkand Congress Room of the Basel Convention Center. Eli Avidar, managing director of the IDI Group of Companies will present an update on the Israeli Diamond Industry “2007 – 2008: Challenges, Responses and New Directions.”

A panel discussion will feature Israeli companies who are leading the way in the luxury product market, by linking up with high-end jewelry and watch brands, or by providing one of a kind, large stones for special pieces. The companies are: Korn Diamonds, Gemstar-Eshed and YEI-Yahlomei Espeka.

At the exhibition IDI will once again represent The Israeli Diamond Industry at its booth in Hall 3.1, NO1. There will be a strong presence of Israeli diamond companies, exhibiting for the most part in Hall 3, where the loose diamond category is concentrated.

IDI Chairman Moti Ganz said that the Israeli Diamond Industry is keen on expanding its presence in European markets.

“Europe is a key market for the Israeli Diamond Industry. We believe that there is significant potential for future growth here. Our participation in BASELWORLD underscores our commitment to meeting the needs of the European market while furthering our growth internationally,” Ganz said.
Source: jckonline

More Fake Rough Diamond Crystals Reported

The Gemlab Research Newsletter dated March 23, reports that more fake diamond crystals, “ingeniously designed rough diamond imitations,” have appeared in the trade.

Noting the beautiful craftsmanship of the crystals to appear like diamond, Thomas Hainschwang of GEMLAB, Laboratory for Gemstone Analysis and Reports in Balzers, Liechtenstein, who sent the report, observed that the crystals were noticeably void of trigons, the triangular etch marks commonly found on octahedral diamond crystals.

That led to some basic testing with Polaroid plates which determined that the crystals could not be diamond. Hainschwang says that phenakite as the likely substitute.

JCK reported on such imitation diamond rough in March of 2007.

For more information and images on this latest report, log onto the Gemlab Web site.
Source: jckonline

Diamonds Discovered in Space

Diamonds may be rare on Earth, but surprisingly common in space, according to NASA, which has been viewing these space diamonds through the super-sensitive infrared eyes of its Spitzer Space Telescope.

An artist's concept of a multitude of tiny diamonds next to a hot star.
Image supplied by NASA/JPL-Caltech

Using computer simulations, scientists at the NASA Ames Research Center in Moffett Field, Calif., have developed a strategy for finding diamonds in space that are only a nanometer (a billionth of a meter) in size. These gems are about 25,000 times smaller than a grain of sand, much too small for an engagement ring. But astronomers believe that these tiny particles could provide valuable insights into how carbon-rich molecules, the basis of life on Earth, develop in the cosmos.

Scientists began to seriously ponder the presence of diamonds in space in the l980s, when studies of meteorites that crashed into Earth revealed lots of tiny nanometer-sized diamonds. Astronomers determined that three percent of all carbon found in meteorites came in the form of nanodiamonds. If meteorites are a reflection of the dust content in outer space, calculations show that just a gram of dust and gas in a cosmic cloud could contain as many as 10,000 trillion nanodiamonds.

"The question that we always get asked is, if nanodiamonds are abundant in space, why haven't we seen them more often?" says Charles Bauschlicher of Ames Research Center. They have only been spotted twice. "The truth is, we just didn't know enough about their infrared and electronic properties to detect their fingerprint."

To solve this dilemma, Bauschlicher and his research team used computer software to simulate conditions of the interstellar medium—the space between stars—filled with nanodiamonds. They found that these space diamonds shine brightly at infrared light ranges of 3.4 to 3.5 microns and 6 to 10 microns, where Spitzer is especially sensitive.

Astronomers should be able to see celestial diamonds by looking for their unique "infrared fingerprints," according to NASA. When light from a nearby star zaps a molecule, its bonds stretch, twist and flex, giving off a distinctive color of infrared light. Like a prism breaking white light into a rainbow, Spitzer's infrared spectrometer instrument breaks up infrared light into its component parts, allowing scientists to see the light signature of each individual molecule.

Team members suspect that more diamonds haven't been spotted in space yet because astronomers have not been looking in the right places with the right instruments. Diamonds are made of tightly bound carbon atoms, so it takes a lot of high-energy ultraviolet light to cause the diamond bonds to bend and move, producing an infrared fingerprint. Thus, the scientists concluded that the best place to see a space diamond's signature shine is right next to a hot star.

Once astronomers figure out where to look for nanodiamonds, another mystery is figuring out how they form in the environment of interstellar space.

"Space diamonds are formed under very different conditions than diamonds are formed on Earth," says Louis Allamandola of Ames.

He notes that diamonds on Earth form under immense pressure, deep inside the planet, where temperatures are also very high. However, space diamonds are found in cold molecular clouds where pressures are billions of times lower and temperatures are below minus 240 degrees Celsius (minus 400 degrees Fahrenheit).

"Now that we know where to look for glowing nanodiamonds, infrared telescopes like Spitzer can help us learn more about their life in space," says Allamandola.

NASA's Jet Propulsion Laboratory, Pasadena, Calif., manages the Spitzer Space Telescope mission for NASA's Science Mission Directorate, Washington, D.C. Science operations are conducted at the Spitzer Science Center at the California Institute of Technology, also in Pasadena. Caltech manages JPL for NASA.
Source: jckonline

Asia to get its first major diamond for auction

A 101-carat, near-flawless diamond may fetch more than $8 million at a Christie's International sale in Hong Kong, the first time a gem of this quality and weight is auctioned in Asia, according to the London-based company.

The squash-ball sized stone, the highlight of Christie's jewelry sale on May 28, has the third-highest clarity rating of VVS1 and the third-best ranking on a scale used to measure colorlessness. Colored diamonds are graded on a different scale.

Christie's only identifies the seller as a Europe-based diamond trading company run by three brothers. Hong Kong is Christie's third-biggest auction market after New York and London. Growth in Asia outside Japan is accelerating, fueled by China's 10 percent-a-year expansion, as the U.S. economy stalls.

"The seller called us up in Asia and specifically said they want the gem sold in this region," said Vicki Sek, a Hong Kong-based director of jewelry at Christie's. The buyer gets the right to name the stone, Christie's said.

The colorless diamond is the fourth of more than 100 carats offered at auction, according to Francois Curiel, the company's global head of jewelry. The last three were in Geneva, he said.

Cut from a 460-carat South African rough stone, the gem is now on exhibition in London and is also the biggest white diamond at auction in nearly two decades, Christie's said. In 2005, the auction house sold a 120-carat brown diamond of lower clarity in Hong Kong. A carat is one-fifth of a gram.

In October, Christie's largest rival Sotheby's sold a flawless, 6.04-carat blue diamond in Hong Kong for 61.9 million Hong Kong dollars, or $7.9 million, a per-carat record for a gem.
Source: iht

First online rough-diamond auction sells out

All 16 lots sold during the diamond industry's first online auction of rough, held yesterday.

Diamdel, a De Beers Group supplier of rough diamonds with offices in Antwerp, Hong Kong and Tel Aviv, Israel, ran the auction.

Prior to the event, Diamdel made all lots available for viewing to potential buyers.

In the end, a total of 14 buyers snatched up the 16 lots, with bidders from Antwerp, India, Tel Aviv and the Far East participating.

"We are delighted that the first auction has worked so well and, in particular, how we have been able to meet the needs of clients from around the world at market-determined prices," Diamdel Managing Director Neil Ventura said in a statement. "We are still reviewing the learning from the auction and will be talking to the participants in order to ensure the future auctions are equally successful."

Details of future Diamdel online auctions soon will be announced to registered customers at Diamdel's Web site, Diamdel.com.

Though Monday's auction was the first for rough diamonds, Rapaport Chairman Martin Rapaport began a series of online auctions for polished stones in September in an effort to create a futures market for diamonds.
Source: nationaljewelernetwork

Hope Diamond's Mysterious Red Glow Solved

A study released in the January 2008 edition of the journal Geology proves that a blue diamond’s rare appeal goes far beyond its beauty.

Researchers at the Smithsonian Institution and the U.S. Naval Research Laboratory measured the phosphorescence spectra of the 45.52-ct. blue Hope Diamond and 66 other natural blue diamonds, including the 30.82-ct. Blue Heart Diamond in the Smithsonian’s National Gem Collection. They found that almost all natural blue diamonds show phosphorescence that has components of blue and red light. In some cases, including the Hope Diamond, the red color dominates, and the phosphorescence appears red to the eye; but for other diamonds, the blue color dominates.

The specific characteristics of the phosphorescence, such as the relative intensities of the blue and red components and how quickly it fades, were specific to each of the 67 diamonds in the study and provide a “fingerprint” that can be used by scientists and gemologists to individually identify natural blue diamonds.

“People typically think of the Hope Diamond as a historic gem, but this study underscores its importance as a rare scientific specimen that can provide vital insights into our knowledge of diamonds and how they are formed in the earth,” said Jeffrey Post, curator of the National Gem Collection and mineralogist, at the Smithsonian’s National Museum of Natural History, who was one of seven researchers involved in the study.

Researchers also tested lab-created and artificially-treated blue diamonds, which showed different phosphorescence spectra than natural blue diamonds. This difference provides an additional means to identify the origins of blue diamond gemstones.

Prior to this study, only limited scientific research existed regarding the phosphorescence properties of natural blue diamonds. Due to the rarity and extreme value of blue diamonds, scientists had typically used synthetic diamonds in past research. Post and his colleagues’ recent research took advantage of a unique opportunity to examine a large collection of natural blue diamonds from the museum and made available by diamond dealers.

The Hope Diamond is the centerpiece of the National Gem Collection on display at the National Museum of Natural History, attracting millions of visitors each year.
Source: jckonline

Journey Diamond Jewelry sales top $1.5 billion

Sales of Journey Diamond Jewelry, such as this S-curve pendant, have passed the $1.5 billion mark.

It seems love not only grows stronger over time for couples, but for consumers and Journey Diamond Jewelry too.

Shortly after landing in stores in August 2006, the Diamond Promotion Service's (DPS) latest gift of love has become one of the most popular diamond jewelry categories in the marketplace, with sales now surpassing $1.5 billion.

"We are thrilled that this new category has already reached $1.5 billion in sales," DPS Core Program Director Colby Shergalis said in a statement released today. "The exciting news is that the category keeps growing, presenting a tremendous opportunity for the industry, particularly this holiday season."

Featuring graduated diamonds to symbolize how love grows stronger over time, Journey Diamond Jewelry is more likely to be a gift from a husband or boyfriend than anyone else. In fact, the DPS says Journey gifts of love account for almost 80 percent of total Journey sales in the marketplace, compared with only 67 percent of total diamond jewelry sales that are purchased as gifts by husbands or boyfriends.

According to the DPS, men like to give Journey Diamond Jewelry for special occasions such as Christmas, birthdays and anniversaries, and they feel comfortable buying it on their own without their partners. The latest statistics show that 82 percent of Journey gifts were purchased by men alone, versus 74 percent of other diamond jewelry gifts.

On average, Journey Diamond Jewelry buyers tend to have a higher household income than purchasers of other diamond jewelry types, says the DPS. This in turn creates an opportunity for retailers to sell Journey pieces at a higher price point, further boosting sales.

For more information about Journey Diamond Jewelry, visit the DPS' Web site, DPS.org.
Source: nationaljewelernetwork

Ganz Describes 'New World Order' in Diamond Industry

Moti Ganz, chairman of the Israel Diamond Institute and vice president of the International Diamond Manufacturers Association described ‘the new world order’ prevailing today within the global diamond industry, in which diamond centers vary in the relative advantages they offer to manufacturers, while speaking at the 2007 China International Diamond Conference in Shanghai.

“We, the manufacturers, have no choice but to spread out our businesses and claim as many stops along the diamond pipeline as possible, from mine to retail shop,” Ganz said.

According to Ganz, no major changes are expected in the manufacturing map for the next over the next seven or eight years, and the list of active mines will remain unchanged

Ganz called on manufacturers to form cooperation with jewelry retailers in building brands that will ensure the sale of manufactured goods.

“The diamond industry has a future to look forward to, and through proper reorganization, seeking out direct ties with the final link in the chain and forging long-term relationships with jewelry retailers, we can prevail and be equipped to face less fortunate times,” he said.

As the owner of diamond polishing plants and retail stores Ganz had praise for the Chinese industry. “The Chinese polisher is renowned for meticulous work and close attention to detail. The Chinese industry specializes in special cuts which require outstanding skill.”

Ganz added that the greatest advantage in manufacturing in China is its consumer market. “China offers a special winning combination. This is the only country where the manufacturing is close to the consumer market. If the leaders of the diamond industry in China, together with the government, find a way to prioritize polished diamonds for the local market. This will trigger meteoric development of the diamond and diamond jewelry retail market in China."
Source: jckonline

Guess who paid $16M for a diamond?

This flawless D-color brilliant-cut diamond, weighing 84.37 carats, was sold to Guess Jeans founder Georges Marciano for approximately $16.2 million at Sotheby's Magnificent Jewels sale in Geneva yesterday. Photo courtesy of Sotheby's.

Geneva—Guess Jeans founder Georges Marciano paid approximately $16.2 million for an 84.37-carat diamond at Sotheby's on Wednesday, the second-highest price ever paid for a diamond at auction.

Named the "Chloe Diamond" by Marciano, the flawless D-color stone set auction records.

It was the largest flawless brilliant-cut white diamond ever offered at auction and, at $191,980 a carat, set the record for the highest price per carat ever paid for a white diamond at auction.

Marciano purchased the diamond at Sotheby's Magnificent Jewels auction, held in Geneva.

The auction brought in about $57 million, the highest sales total for Sotheby's in Geneva since 1995.

Other highlights of the auction included a 4.16-carat fancy-vivid-blue pear-shaped diamond ring, which sold for about $4.7 million; a 22.25-carat marquise-shaped diamond ring, signed by Cartier, which sold for about $2.3 million; and a ruby and diamond parure, signed by Asprey, which sold for about $2 million.
Source: nationaljewelernetwork

43% of Women in the Gulf Prefer Diamond Jewelry

A De Beers survey of women living in the Gulf States found that 43 percent of them rate diamond jewelry as the preferred gift for the festive season. Following diamond jewelry were luxury watches, designer clothing, fragrances and overseas holidays.

Gulf men also rated diamond jewelry highly, with 71 percent of them placing them on the top of their list of gifts for their loved one. Saudi men stood out, with 75 percent of them preferring to gift diamond jewelry.

The survey also found that the Middle East region has the highest preference for giving diamond jewelry compared to any other region in the world.

According to De Beers Group Marketing, Middle East diamond sales rise during the Adha holiday season, which includes a mini wedding season as well.
Source: idexonline

Rapaport Releases Diamond Standards

The Rapaport Group has released three formal certified diamond standards that will be used to define contracts for different diamond classifications. The new standards will be used to classify diamonds offered at the Rapaport Certified Diamond Auctions as well as on the RapNet and INDEX diamond trading platforms. Rapaport Diamond Specification 2 (RapSpec-2) will also become the standard for the Rapaport Price List.

All specifications incorporate Gemological Institute of America color, clarity, and cut standards, with the minimum overall GIA cut grade remaining "Very Good." The first two standards focus on very precise cut details of the diamond, while the third introduces medium blue fluorescence. RapSpec-2 eases requirements for depth and table percentages and allows for a minimum of "good" rather than "very good" for polish and symmetry. RapSpec-3 is identical to RapSpec-2 except that medium blue fluorescence is allowed. The new standards may be reviewed at www.diamonds.net/standards.

"The introduction of a broader range of standards for certified diamond categories is an important step in the development of fair, efficient and competitive diamond markets. More standardized diamonds will now be available for sale enabling improved availability and competition," said Martin Rapaport, chairman of the Rapaport Group.

The new standards will classify diamonds and be used at the next Rapaport Certified Diamond Auction to be held at www.diamonds.net/auction on Thursday, Nov. 29, 2007. While a broader range of cut qualities and prices will being offered, all diamonds will be guaranteed by Rapaport, GIA graded and well defined, ensuring that bidders know exactly what they are buying.
Source: jckonline

Diamonds Aren't an Investor's Best Friend

A drooping dollar and inflation worries have bolstered the price of gold and other commodities that are generally considered robust investments in rocky times.

Do diamonds share the same luster?

In most cases, no. Some investors buy diamonds in the form of mining company stocks, many of which are not listed on an organized exchange or on Nasdaq; a larger diamond-mining company, Mountain Province Diamonds (MDM - Cramer's Take - Stockpickr) is listed -- and is up 51% so far this year. The bump appears to be based more on speculation, however, because the company's mine isn't yet producing. You can also get exposure to the diamond market through jewelry company stocks such as Tiffany & Co. (TIF - Cramer's Take - Stockpickr) or Zale (ZLC - Cramer's Take - Stockpickr).

But for most people, diamonds are bought and sold through a jeweler. Many a groom has found himself convinced to spend a big chunk of his yearly salary because of the stone's perceived "investment" benefits. But for those who think they might be able to resell individual diamonds at a profit, the chances are mighty slim. Diamonds usually are a way to spend money -- sometimes a lot of money -- not make it.

Crystallized carbon -- what we call diamonds -- is rarer than other forms of carbon, such as the carbon dioxide gas that wreaks havoc with global temperatures. Elemental carbon in all forms, however, is a common substance. It's in food, clothes and gasoline. Under intense heat and pressure, elemental carbon can form gorgeous diamond crystals, but those conditions can be duplicated in a laboratory. As technology improves, it's likely that more and more man-made diamonds will come onto the market.

Stores of Value

Diamonds are sometimes lumped together with gold and other precious metals when investors seek safety in volatile markets -- not because they trade like gold, but because they are often considered to be similar rare and valuable substances. These materials are seen as stores of value, expected to keep their worth when other investments falter.

In financial terms, a store of value is a commodity with no cash flows. Its price is expected to increase along with inflation. Common stores of value include precious metals and undeveloped land. Stores of value are generally low-risk ways to hedge one's purchasing power; as an added advantage, most of these materials can be owned in useful forms. Land can be owned as part of a housing or commercial building. Precious metals can be owned as coins, jewelry or spoons.

Precious stones also can serve as stores of value. But here's the rub: Precious stones don't trade freely. There's no afternoon price fix and no quote to look up. Much of the value of a precious stone is determined by appraisers from competing trade organizations, who can be subjective in their analysis. One person's opinion, no matter how learned, is no match for the power of the market to determine prices. This means that diamond sellers can get different appraisals, and different offers, for stones that in theory are fungible. Many jewelers avoid dealing with secondhand diamonds for fear of casting a pall on the market mystique, but plenty of jilted brides have found a great secondary market on eBay.

De Beers Corp. more or less operated a near monopoly in the diamond market from 1934 to 2000, and it still controls roughly 40% of the market. When it dominated the market, the company could set prices and sold only as many diamonds as current market prices could bear -- lots of diamonds if demand was high enough to keep prices high, and only a few if the price support wasn't in place that year. De Beers marketed diamonds as a symbol of love. It discouraged jewelers from dealing in secondhand diamonds by agreeing to buy back stones for its own inventory, further controlling supply.

Price and Quantity Problem

South Africa is the traditional home of diamonds, but Russia, Canada, Australia, and India all have viable mines. Many yield low-quality stones, but improvements in laser technology make it easier to improve their color and clarity. Diamond companies take raw stones, cut them into shapes that enhance their natural beauty, and then use lasers to lighten and even eliminate cloudy spots and flaws. As lasers improve, a greater number of natural diamonds meet jewelry-industry standards. That's why shopping malls flaunt $99 diamond pendants at holiday time.

De Beers lost its monopoly when it could no longer control the supply. As mining and laser technologies improved, De Beers watched independent miners and manufacturers put stones on the market. By 2000, it said it would stop managing the diamond market and start marketing diamonds under the De Beers name.

To stand above the cheap diamonds sold to high-school lovebirds, diamond companies trademarked their cut patterns and used lasers to etch serial numbers or brand names on the stone. Prospective grooms now have to decide what shows love the most: a diamond ring in a blue box from Tiffany; an inscribed Millennium diamond with a loupe included; or a microscopic polar bear to prove that the diamond came from conflict-free Canada, unlike diamonds from parts of Africa where sales revenue may have been used to pay for civil conflicts.

Stores of value generally maintain their price. Investment goods like stocks and bonds are expected to increase in value, and consumption goods like cars, clothing, and furniture in most cases go down in price.

Now, if you're still convinced that diamonds are a good investment, your best bet is to buy exposure to them through stock in a jeweler. Or, go to the jeweler and buy a diamond for someone you love and not as an investment.
Source: thestreet