Diamond Stock Articles

World's Largest Ruby Could Break $30m Record

April 07, 23 / John Jeffay

(IDEX Online) - A ruby described as "the largest and most valuable" ever to be auctioned is expected break the world record when it is sold by Sotheby's New York in June.The 55.22-carat Estrela de Fura ((Star of Fura in Portuguese), is "the world's largest gem-quality ruby in existence," and is "expected to achieve in excess of $30m," the auction house said.The highest price ever paid fo...Read More

Rarest of the Rare: A Diamond Within a Diamond

April 05, 23 / John Jeffay

(IDEX Online) - De Beers has announced the discovery of an astonishingly rare diamond-within-a-diamond.The 0.329 carat D-color Type IaAB diamond, named the Beating Heart has an internal cavity enclosing a smaller diamond that is trapped yet able to move freely.There are only two other known examples of such a Matryoshka or Russian Doll diamond.In 2019, Alrosa recovered a 0.62 carat diamond at its...Read More

GIA Faces Criticism over Paperless Reports

April 05, 23 / John Jeffay

(IDEX Online) - The GIA is facing criticism over the new digital-only reports it introduced in January.Dealers say retail customers still expect a paper certificate and are, in some cases, refusing to buy a diamond without one.The GIA (Gemological Institute of America) says its paperless Diamond Dossiers, for stones up to 1.99-cts, are the first step towards phasing out all printed reports with th...Read More

"I'm Back," says Raider in Repeat Jewelry Heist

April 05, 23 / John Jeffay

(IDEX Online) - A brazen raider is believed to have struck twice in six weeks at the same jewelry store in New York. The owner said he told staff: "Hi, I'm back".Police say he grabbed a worker at Melissa Joy Manning Jewelry, in Cobble Hill, Brooklyn, in the latest attack and ordered her to open the display cabinets.Owner Melissa Joy Manning says merchandise worth $200,000 was stolen in the fi...Read More

Improve KP, Don't Discard it, says Asscher

April 04, 23 / John Jeffay

(IDEX Online) - Edward Asscher, outgoing president of the World Diamond Council, defended the Kimberley Process and addressed the "white elephant" of Russian sanctions at the World Federation of Diamond Bourses (WFDB) Congress in Israel."Today, through the KP and the work that we all do, I am convinced that 99.9 percent of all diamonds in the global marketplace are conflict free," he said."Is the...Read More

IDEX Polished Price Index Continues Its Year-Long Decline

April 04, 23 / IDEX Online

(IDEX Online) - Polished diamond prices tumbled 17.3 per cent year-on-year in March. Such a dramatic fall shows how dependent the market has become on world events. This kind of volatility was unknown in the days when De Beers cornered the market and insulated prices.It controlled 90 per cent of the diamond market in the late 1980s and fluctuations were mostly limited to single digits. Then Russia...Read More

Secret Reverso Watch as a 3,000-Diamond Necklace

April 04, 23 / John Jeffay

(IDEX Online) - Jaeger LeCoultre has reworked its iconic Reverso "secret watch" design into a high jewelry necklace set with 3,000 diamonds.The pink gold Art Deco piece was unveiled last week at the Watches & Wonders 2023 salon in Geneva.It has the swivelling Reverso movement that has featured in watches, bracelets, brooches, handbag clips pendants since 1931.That was the year watchmaker Jacqu...Read More

US Watch and Jewelry Sales Down for a Fifth Month

April 04, 23 / IDEX Online

(IDEX Online) - Watch and jewelry sales in the US were down for a fifth consecutive month in February, amid ongoing fears of a recession and financial crisis. They fell 3.0 per cent year-on-year, according to the US Department of Commerce. In January sales dropped by just 0.3 per cent, a figure that was originally reported as 2.1 per cent but which has now been revised up based on actual rather th...Read More

Patek Philippe Sets $5.8m Online Record

April 04, 23 / John Jeffay

(IDEX Online) - One of Patek Philippe's rarest watches has broken the record for the highest price paid in an online auction.The Sky Moon Tourbillon, with a blue handmade enamel dial and white gold hand-carved case, sold for $5.8m at Christie's Hong Kong.It is one of the most sophisticated timepieces ever created, with functions that include a cathedral minute repeating, tourbillon, perp...Read More

Murdoch Splashes $2.5m on Ring for Fifth Wife

April 03, 23 / John Jeffay

(IDEX Online) - Media magnate Rupert Murdoch has reportedly splashed out $2.5m on a diamond engagement ring for his fifth wife.Murdoch, 92, (pictured) is to marry Ann Lesley Smith, 66, this summer, after divorcing wife number four, supermodel Jerry Hall, last July.Widow Ms Smith was seen wearing the 11-carat Asscher-cut gem at Los Angeles Airport last week The couple first met in September2022."It...Read More

Tiffany Fools Followers with Diamond Sneakers

April 02, 23 / John Jeffay

(IDEX Online) - Tiffany fooled its followers on social media with a pair of diamond-encrusted sneakers, each set with 17,000 carats, with a total weight of 1,837 carats (a reference to the year the company was founded).The prank provoked a mixed reaction, with many immediately spotting it was an April Fool. But one or two were taken in. One posted "Absolutely obscene", presumably reckoning it was...Read More

Botswana Miners: Beware of HB Antwerp Deal

April 02, 23 / John Jeffay

(IDEX Online) - Botswana's mining union has issued a stark warning over the government's purchase of a 24 per cent stake in the Belgian manufacturer HB Antwerp announced last week."We should be wary to jump on a partnership with a company that is hardly two years old with no proven track record, and in the process mortgage the economy of Botswana because we were blinded by over-promises...Read More

The $7m Pair of Pink Diamond Earrings

April 02, 23 / John Jeffay

(IDEX Online) - A pair of pear-shaped fancy pink pendant diamond earrings, weighing 11.17 carats and 10.85 carats, are to be sold at Sotheby's Hong Kong.The estimate is $5.48m to $7.01m. Both diamonds are GIA-certified as Fancy Pink, Natural Color, VVS1 Clarity.The pink diamonds are set in platinum and yellow gold suspended from a pear, marquise-shaped and brilliant-cut diamond surmount weigh...Read More

IDEX Price Report for 1 April: Fancies Up, Rounds Faring Better

April 01, 23 / IDEX Online

(IDEX Online) - Rounds prices held up better than in recent months, and demand for fancies drove up prices, especially among 0.30-cts to 0.79-cts goods. China is post-Covid, the US is emerging from the depths of its inflationary woes and consumer confidence is actually on the rise. Things aren't great, but the industry appears to be getting used to another "new normal".It's now over...Read More

Sotheby's to Sell 10.57-ct Pink Diamond with $35m Estimate

March 30, 23 / John Jeffay

(IDEX Online) - Sotheby's New York is to sell an ultra-rare 10.57-carat "bubblegum pink" diamond with an estimate of over $35m.It says the Eternal Pink, a cushion-cut internally flawless fancy vivid purplish pink gem, is the most vivid pink diamond ever to come to market.It also says it could challenge the price per carat record for any diamond or gemstone sold at auction, although that would...Read More

216-cts of Yellow Diamonds, and a $20m Price Tag

March 30, 23 / John Jeffay

(IDEX Online) - Exclusive watchmaker Jacob & Co has unveiled its latest ultra-extravagant timepiece, the Billionaire Timeless Treasure, incorporating 216.89 carats of Asscher-cut fancy yellow and intense yellow diamonds. And a $20m price tag.It's a one-off watch to aspire to, especially if you're looking to trade up from the entry-level Millionaire launched in 2018, set with 127...Read More

India Attempts U-Turn on Choksi's Red Notice

March 30, 23 / John Jeffay

(IDEX Online) - India's Central Bureau of Investigation (CBI) is bringing news charges against fugitive diamantaire Mehul Choksi.It hopes the move will persuade Interpol to re-impose the Red Notice, restricting his movements, that was lifted earlier this week.Choksi, 63, together with his nephew Nirav Modi, 53, is wanted by authorities in his native India over the alleged $1.8bn Punjab Nation...Read More

Christie's to Sell Record $150m Jewelry Collection

March 30, 23 / John Jeffay

(IDEX Online) - A vast array of over 700 jewelry items owned by the late Austrian art collector and philanthropist Heidi Horten is to be sold by Christie's Geneva in a record $150m sale.It represents the most valuable jewelry collection ever to be auctioned, surpassing those of Elizabeth Taylor and Qatar royal family member Sheikh Hamad Bin Abdullah Al Thani, said the auction house.The collec...Read More

Gang Members Jailed for $1.5m Jared Jewelry Raid

March 28, 23 / John Jeffay

(IDEX Online) - Four gang members have been jailed for at least seven years each after they were caught red-handed in an armed raiders on a Jared jewelry store in Glendale, Arizona, USA.They zip-tied several employees and customers and stole their personal possessions, as well as merchandise from the store, with a total value of $1.5m.Police arrested the four men after a woman dialled 911 during t...Read More

Botswana Buys 24% Stake in HB Antwerp

March 28, 23 / John Jeffay

(IDEX Online) - The government of Botswana is buying a 24 per cent stake in the Belgian manufacturer HB Antwerp, as its long-term deal with De Beers increasingly appears to be in jeopardy.The move heralded "the dawn of a new era for the diamond industry in Botswana," said the country's President Mokgweetsi Masisi.As part of the deal Okavango, the state-owned diamond company, is also entering...Read More

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