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Chris Del Gatto, CEO & Co-Founder of DELGATTO Diamond Finance Fund L.P., a New York-based non-bank lender to the diamond and jewelry industry, started his career as a diamond cutter when he was just 17. In his early 20’s, Chris went on to co-found a...


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Crisis is the way to development

Maria Krasnova belongs to the second generation of the St. Petersburg jewellers. She is a daughter of Pavel Sokolov, the founder of ‘Samotsvety ot Sokolova’ (Gems by Sokolov), a jeweller and expert gemologist famous for his collection of unique...

12 october 2020

Gaetano Cavalieri: Diamond producers no longer insisting that clients purchase what they are offered

Dr. Gaetano Cavalieri has served for the past 19 years as president of CIBJO, the World Jewellery Confederation. Uniting national jewellery and gemstone associations from more than 40 countries, including Russia, and many of the industry’s major corporations...

05 october 2020

Worth of gold and diamonds

Initiatives in Arts and Culture and De Beers recently co-hosted a webinar on the worth of gold and diamonds. The webinar, which was moderated by Mickey Alam Khan, the founder and editor of Luxury Daily, featured Jeffrey Christian, founder and managing...

28 september 2020

Sotheby's put up for sale a pink diamond "The Spirit of the Rose" from ALROSA

15 october 2020
                                      Image credit: Sotheby's

Sotheby's auction house has put up for sale a pink diamond "The Spirit of the Rose", extracted and cut by ALROSA.
"The Spirit of the Rose" was graded by GIA as fancy vivid purple-pink with excellent clarity, excellent polish and very good symmetry. it took Alrosa’s cutting factory one year to prepare and cut the diamond. 
The estimated cost is USD 22,995,167 - 37,988,453.
Discovered in July 2017 at the Ebelyakh Deposit in the Republic of Sakha (Yakutia) in North-Eastern Russia, "The Spirit of the Rose" has become the largest pink crystal ever mined in Russia. The oval diamond with an initial weight of 27.85 carats was named after the Ballet "The Spirit of the Rose", in which the legendary Russian dancer of the 20th century Vaslav Nijinsky shone.
Since their discovery in India in the early 17th century, pink diamonds have also been mined in Brazil, South Africa, Tanzania, Canada, Australia and, of course, Russia. Around 80% of the world's pink diamonds now originate from the Rio Tinto’s Argyle mine in Kimberley, Western Australia. Out of the mine's 20 million carat annual output, only 0.1% are classified as pink diamonds, attesting to their rarity.
Given their rarity, it is unsurprising that the value of pink diamonds has increased considerably over the centuries. The current record for a pink diamond sold at auction is held by the 'CTF Pink Star', a 59.60-carat oval mixed-cut Fancy Vivid Pink, which was auctioned at Sotheby's Hong Kong in April 2017 for $71.2 million USD.

Alex Shishlo for Rough&Polished