The indelicate balance of ethics against profit

I am slightly pained to write this blog, as over the years I've made many close friends and contacts in Switzerland, not to mention worked very closely with several Swiss-based companies as part of our recently launched DMCC Crypto Centre, including...

29 november 2021

Yakut diamonds, the symphony of permafrost

The Yakutia-based Kierge company, one of the Top 100 of the leading jewellery brands in Russia, opened its showroom in Moscow this autumn, which is gaining popularity in the capital of Russia. “Kierge” is the Yakut for a “finery, decoration” in a broad...

22 november 2021

Vladislav Zhdanov - “The use of diamonds in high technologies is the main and key target of the diamond synthesis technologies”

Vladislav Zhdanov, Professor at the Higher School of Economics, Advisor to Director General - Chairman of the Management Board of the Russian Railways company, and former Vice President of ALROSA (2015-2018). He is a physicist by background...

15 november 2021

Ali Pastorini: The white diamond is the equivalent of a white shirt for a woman

Ali Pastorini is the co-owner of Del Lima Jewelry and President of Mujeres Brillantes, an association that brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

08 november 2021

“As a purist and old school diamantaire, I don't believe in LGD,” says Vin Lee, CEO Grand Metropolitan

Vin Lee, the King of Luxury, doesn’t need any introduction. He is a self-made billionaire CEO of Grand Metropolitan. The Beverly Hills' family office Grand Metropolitan is $7 billion AUM privately-held luxury goods holding company with a 60-brand...

01 november 2021

The pink dream of Isaac Wolf

15 november 2013

At a recent Sotheby's auction in Geneva, one of the lots put up for sale was a diamond called The Pink Star, 59.6 carats in size. Its estimate was as high as $ 60 million and no one thought the bidding would take just 300 seconds – this was the time it took for Isaac Wolf, a diamond cutter from New York, to convince his other three competitors to abandon the race for this gem, which after the purchase was immediately renamed The Pink Dream.
It turned out that the new owner in the course of this competition "ran" at a rate of nearly $277,000 per second and came in first with a score of $83.02 million. This is a world record in the diamond purchase event.
After Sotheby's auctioneer David Bennett lowered the hammer, the audience was treated to a music track from “The Pink Panther,” a movie first released in 1964 and narrating about the search of a stolen pink diamond.
The Pink Dream of Isaac Wolf is the largest stone in its category from those that have ever been graded by the Gemological Institute of America (GIA). The gem is oval in shape, 1.06 x 0.81 inches in size and weighs 0.026 pounds. Besides the fact that this stone is distinguished by its own rare characteristics of color and clarity, it also falls into the subgroup of crystals having extraordinary transparency and comprising less than two percent of all diamonds. The rough diamond, which gave birth to the Pink Dream, was recovered by De Beers in Africa in 1999. It was then cut by Steinmetz Diamonds, which spent more than two years to complete the job.