Why Investors are Turning to Fancy Color Diamonds
May 22, 25
The entire diamond market is facing extremely tough conditions - but the fancy color niche seems to have a life of its own. Just last week the 10-carat 'The Mediterranean Blue' diamond sold for $21m at Sotheby's, and other fancy color experts report .... Read More...
Civil Society Challenges Conflict Diamond "Breakthrough"
May 22, 25The Kimberley Process (KP) remains a long way from reaching a consensus on redefining "conflict diamonds", according to the watchdog group Kimberley Process Civil Society Coalition (KP CSC). Last week Feriel Zerouki, president of the... Read More...
NY Diamond Dealer Charged with $3.3m Wire Fraud
May 22, 25A dealer from New York's Diamond District has been charged with wire fraud after he allegedly falsified bank records to obtain almost $3.3m of rough diamonds from a supplier in India. Edward St. Mary III, aged 55, orchestrated an international scheme... Read More...
Christie's Offers $12m Sapphire and $10m Ruby
May 22, 25Two remarkable gems from the same private collection could fetch $22m between them when they are offered at Christie's Hong Kong next week. A 35.09 carat Kashmir sapphire has an estimate of HKD 65m to HKD 95m ($8.3m to $12m) and a 13.22 carat ... Read More...
Police Accused of Switching $2.3m Diamond for a Fake
May 21, 25The victim of a violent $2.3m diamond robbery claims police handed him back a fake gem after arresting five suspects. He says a gang stole the antique 17.44-carat gem after luring him to an hotel, attacking him and tying him to a chair, on 4 May.... Read More...
Memo by John Jeffay
May 22There has been much excitement in recent days about conflict diamonds. The Kimberley Process appears to have made a "significant breakthrough" towards broadening a narrow definition that currently recognizes only rough stones that finance civil war.... Read More...