Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward...

10 august 2020

How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

03 august 2020

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

ALROSA’s 14.83 ct Spirit of the Rose may become one of the world’s most expensive diamonds

15 august 2019

Russian miner ALROSA intends to sell its 14.83 ct pink diamond «The Spirit of the Rose» in November this year, the company’s spokeswoman Evgeniya Kozenko was quoted by Bloomberg as saying.
Eden Rachminov, the chairman of the board of the Fancy Color Research Foundation said that the stone may be worth $60 million to $65 million, which makes it one of the most expensive pink diamonds ever sold. 
The Spirit of the Rose was graded by GIA as fancy vivid purple-pink with excellent clarity, excellent polish and very good symmetry, says the report.  

                                Image credit: ALROSA

The oval crystal, which was unearthed by ALROSA in 2017, was named after the ballet Le Spectre de la Rose. Initially the stone weighed 27.85 cts, it took Alrosa’s cutting factory one year to prepare and cut the diamond. 
The representative of Alrosa’s press service didn’t comment on the estimated price of the stone but added that it will become the most expensive polished diamond in Russia, according to Bloomberg.
The company has chosen to sell diamond at a time when Rio Tinto’s pink diamond mine Argyle is depleting. It used to be the largest source of pink diamonds in the world. 

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg