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A 20.47-carat diamond ring is a top seller at Christie’s, New York

A 20.47-carat brilliant-cut, D-colour, type IIa diamond ring fetched $2.7 mn at Christie’s Sales of Magnificent Jewels in New York on June 12, 2018.

Today

Petra raises $170 mln to lower swelling debt

Petra Diamonds said its shareholders have approved a rights issue to raise about $170 million to help lower its debt, which was $622 million at the end of March.

15 june 2018

Stornoway Announces Board Appointment

Stornoway Diamond Corporation announced the appointment of Michele S. Darling to the Corporation’s Board of Directors.

15 june 2018

Mugabe will no longer give evidence on missing Marange diamond revenue – report

Zimbabwe former president Robert Mugabe will no longer appear before a parliamentary portfolio committee on mines to give oral evidence about Marange diamond revenue pillaged during his rule, according to media reports.

15 june 2018

Queen Mary’s diamond tiara is back for the Royal Wedding

Meghan Markle chose to wear Queen Mary’s Diamond Bandeau tiara for her wedding to Prince Harry on May 19, 2018. The tiara belongs to Queen Elizabeth II, who lent it to Meghan for her wedding day.

15 june 2018

Is De Beers’ Lab-Grown Line a Machiavellian Masterstroke?

08 june 2018
(jckonline.com) - Immediately after De Beers announced it was launching its Lightbox lab-grown diamond line, cutting in some parts of India virtually halted. One person described the shock as “Richter scale, 9.” Sightholders and other producers felt blindsided. Everyone scrambled to figure out what it meant. At JCK Las Vegas on June 1, the Lightbox team held a lunchtime meeting that seemed to calm down at least some people. Executives explained that they wanted to create a new market, not replace the old one. “We look at this as an additive, rather than a substitutive business,” said Lightbox general manager Steve Coe. Throughout the lunch and in interviews, De Beers executives, with a few exceptions, didn’t sound all that excited about the new member of the family. They called synthetic diamonds “not rare,” “not precious,” and suitable for “emotionally shallower occasions,” like a Sweet 16 or quinceañera. “Love, commitment, forever,” pronounced executive vice president of corporate affairs David Prager, “are not grown in a lab.” Lightbox is jewelry that, if you lost it at the beach, “you wouldn’t be quite so concerned,” said head of marketing Sally Morrison. It reminded one attendee of The Producers: like executives were deliberately disparaging their own product.

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