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October 15, 2019

Jewelry Sales Decline 

Jewelry Sales Decline

Jewelry sales decline, as well as luxury items in Hong Kong, fell during the month of August.  Thus making it the largest month of jewelry sales decline on record while protests rage in the city.  Furthermore, their tourism industry has seen a large decrease in volume as well.  While jewelry sales decline revenue from watches, clocks and other valuable gifts dropped 47 percent year on year to HKD 3.93 billion ($501.3 million) during the month.  The report by Hong Kong’s municipality’s Census and Statistics Department read on Wednesday.  This is a steep monthly decline for jewelry since the department started publishing its results in 2005.  Thus, according to the public data archive, overall jewelry sales decline, as well as luxury items categories, decreased 23% to HKD 29.36 billion ($3.74 billion).

Demonstrations and Jewelry Slow Down

Due to the bevy of demonstrations in Hong Kong jewelry sales decline.  The protests stem from a proposed extradition bill and have been steadily increasing since June.  All the while, luxury stores, train stations, and the city’s airport have been periodically shut down.   Furthermore, while the bill has been removed, tremendous unrest continues to permeate.  With the police force reportedly shooting an 18-year-old protester Tuesday.  Also, more than 100 people, including 30 police officers, are currently hospitalized due to the increase in violence.

China and Tourism

The situation in Hong Kong The situation has led to a large decrease in travelers and prospective buyers from China and abroad.  Thereby causing tremendous damage to the local economy and thus leading to jewelry sales decline.  The number of tourists visiting Hong Kong was down 39% to 3.6 million in August.  Furthermore, of those, 2.8 million came from mainland China, a steep decline of 42% over the same time the previous year.  A government spokesperson explains that “the overall retail decline was “even worse than that recorded in September 1998 during the Asian financial crisis. Apart from the weak consumer sentiment amid subdued economic conditions, the plunge in August mainly reflected the severe disruptions to inbound tourism and consumption-related activities caused by the local social incidents.”

A Decline in Jewelry Sales Will Continue

“Retail sales will likely remain in the doldrums in the near term, as the worsened economic outlook and local protests involving violence continue to weigh on consumer sentiment and inbound tourism,” a government spokesperson explains.  Therefore the government expects a continue in weakness as conditions persist.  Furthermore, the Swiss bank UBS also predicts a continuation of jewelry sales decline in the market.  Also, they note that a more difficult and challenging outlook for hard luxury is on the horizon.  This includes luxury jewelry and watches, as well as designer bags, leather and clothing.

Chinese Jewelry Sales

A bank spokesperson explains that “this is particularly prevalent in the Chinese market, with hard luxury more exposed to recent [yuan] depreciation and protests in Hong Kong.  Because of their long-term availability and high price tag, these are less likely to benefit from repatriation of demand in case of short-term disruptions in Hong Kong. Note that 50% of Chinese diamond jewelry was purchased in Hong Kong in 2018, [so] the near-term disruptions to sales [are] likely to be significant.”  Thereby leading to the jewelry sales decline.  Furthermore, in just the first eight months of the year, retail sales of jewelry, watches, clocks and other valuable gifts fell a whopping 14 percent to HKD 50.06 billion ($6.38 billion).   Therefore, one can estimate that the sales in all retail categories for the January-to-July period fell 6% to HKD 305.05 billion ($38.9 billion).

Jewelry Sales Decline

Diamonds and gems, as well as jewelry sales decline as protests rage.

 

Jewelry Sales Decline 

Jewelry Sales Decline for Engagement Rings and other luxury goods.

 

https://www.diamonds.net/News/NewsItem.aspx?ArticleID=64191&ArticleTitle=Consumers+Willing+to+Pay+More+for+Verification

https://www.diamonds.net/News/NewsItem.aspx?ArticleID=64215&ArticleTitle=UBS+Predicts+Drop+in+Diamond-Jewelry+Sales

https://www.diamonds.net/news/NewsItem.aspx?tc_dailyemail=1&ArticleID=64218

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September 27, 2019

Pink Diamond Ring

Pink Diamond Ring

Sotheby’s is set to auction a 10.64-carat pink diamond ring.   For example, this pink diamond ring is going for a staggering $25.5 million and will be a feature at the prestigious Sotheby’s Hong Kong sale.  Furthermore, the pink diamond ring is fancy vivid purplish pink center stone and is internally flawless, or IF for abbreviation.  Furthermore, this diamond is GIA certified, making it all the more prestigious.  In fact, GIA is the pinnacle of diamond certification.  GIA certified diamonds not only add value to diamonds but upon grading, diamonds undergo the utmost scrutiny to get the most accurate assessment of the diamonds characteristics.  Harry Winston’s Pink Legacy Diamonds is also has a GIA certificate.

Sotheby’s Auction’s Pink Diamond Ring

The famous auction house told Rapaport News recently that it will offer the pink diamond ring.  For example, the pink diamond ring is adorned with white diamonds at its Magnificent Jewels and Jadeite sale on October 7, 2019 in Hong Kong.  The Rapaport News magazine is a publication for insider trading for the diamond and jewelry world.  Furthermore, they are at the forefront of the industry news bringing up to date information on the trade.

Harry Winston Buys the Pink Legacy Diamond

The pink diamond ring has a pre-sale estimate of 19.1 million to $25.5 million, or up to $2.4 million per carat.  For example, that translates into 150 million-200 million in Hong Kong Dollars.  Pink diamonds and by default pink diamond rings have almost always done historically spectacular at the Sotheby’s sales.  Additionally, at one Sotheby’s auction, the diamond known as the Pink Promise, a 14.93-carat, fancy vivid pink, went for HKD 250 million ($32 million) at Christie’s Hong Kong sale in 2017.

The Pink Legacy Pink Diamond Ring

Just this past November 2018, the famous jeweler and diamond dealer Harry Winston purchased the pink diamond ring known as the Pink Legacy.  This pink diamond ring is an 18.96-carat, fancy-vivid-pink diamond.  The Pink Legacy sold for a staggering $50.4 million or CHF 50,375,000 at the Christie’s Auction.

Astonishing Pink Color

When referencing the astonishing hue of the Pink Legacy the International Head of Jewellry at Christie’s one Rahul Kadakia explains that “The saturation, the intensity of this stone is as good as it gets in a colored diamond. And that, to find a diamond of this size with this color is pretty much unreal,’ he continues. ‘You may see this color in a pink diamond of less than one carat. But this is almost 19 carats and it’s as pink as can be. It’s unbelievable.”  After making the staggering purchase the new owners at Harry Winstons renamed the diamond immediately after purchase to “The Winston Pink Legacy.”

Prices for Pink Diamonds

Pink diamonds are incredibly rare and expensive.  For example, the price for pink fancy-color diamonds saw an increase of 0.4% in only three months, ending June 30.  Furthermore, pink diamond outperformed other fancy color diamonds, such as blue and yellow., the Fancy Color Research Foundation noted.  Additionally, the imminent closure of Rio Tinto’s Argyle mine in Australia has contributed to the price rise, as the deposit produces most of the world’s pinks, explained Alan Bronstein, president of the Natural Color Diamond Association.

Types of Diamond Classifications

Diamonds come in two classifications, which scientists classify as Type I and Type II.   For example, the Type II diamonds, the diamond has an extremely rare, evenly spread, almost homogenous color.  In fact, Pink diamonds fall under the rare Type IIa category of diamonds.  Additionally, pink diamonds have very little to no traces of the chemical nitrogen.  Furthermore, these diamonds make up less than two percent of all gem-quality diamonds.   Consequently, a Type II pink diamond is the most brilliant diamond with respect to refraction and hue.  Furthermore, one can expect to see a Type IIa often with exceptional transparency and shine.

What Makes a Color Diamond?

While gemologists and diamond dealers know that the earth’s radiation is the primary reason for the pink diamond color, there is evidence that these diamonds have a mutation within their crystal lattice structure.  Thereby causing a change in the diamonds molecular structure.  For example, with enough of these structural anomalies, the diamond can take on a bevy of different properties.  Such as, the diamond could absorb a certain wavelength of green light.  Thus, resulting in a pink appearance.  Additionally, other colors, such as green, purple and orange, occur from natural radiation and other common elements within the Earth.

The CTF Pink Star:

A flawless, oval shape, fancy vivid pink diamond weighing in at 59.60-carats known as the CTF Pink Star has sold for an outlandish 71.2 million dollars.  This is the largest flawless, fancy vivid pink diamond The Gemological Institute of America (GIA) has ever graded.  Additionally, the CTF Pink Star has the highest color and clarity grades from GIA for pink diamonds.  The CTF Pink Star diamond was dug by De Beers in Africa in 1999.  Furthermore, the 132.5-carat rough diamond was specially cut, polished and modified over a lengthy two year period in which it was transformed into a spectacular and one of a kind diamond gemstone.

New Record Set

The CTF Pink Star was sold on 4 April 2017 in Hong Kong.  It saw Sotheby’s set a new world record for an auction for any diamond or jewel when the Pink Star sold for HK$553 million.  The Pink Star was purchased by world-famous Chinese jeweler Chow Tai Fook.  The winning telephone bid was placed by the chairman of the company, one Dr. Henry Cheng Kar-Shun.  Additionally, Pink Star has been renamed CTF PINK STAR in honor of the late Dr. Cheng Yu-Tung.  Who is the father of the current chairman and founder of Chow Tai Fook.  Furthermore, the purchase commemorates the companies 88th anniversary.

Pink Diamond Demand

Demand and prices for the diamond market as a whole are on the increase as concerns about the world economy mount.  Additionally, with the introduction of laboratory-grown diamonds and gems, there is an abundance of gem and diamond supplies.  For example, color diamonds, in particular, large color diamonds, have maintained their value, especially in pink diamond rings.  Roughly 90% of which are found in the famous Argyle mine in Australia.   Furthermore, the Argyle mine is the worlds largest producers of pink diamonds with regards to carat weight.  However, the Argle mine is expected to have exhausted its kimberlite materials, and will, therefore, cease production by the end of next year.

Rio Tinto Diamonds

Rio Tinto’s chief executive for its copper and diamond operations, one Arnaud Soirat, mentions that the price of pink diamond rings has gone up approximately 500% since the year 2000.  Furthermore, while Soirati did not give any figures at to the health of the overall market, he did mention that producers have reported lower overall demand and prices.  Additionally, he mentions that despite sluggish demand both he and Rio Tinto plan to stay in the diamond business.  Lastly, he says, “diamonds is a business we like a lot. It’s a very high-margin business in line with our strategy of value over volume. It makes a lot of sense. We want to stay in the diamonds business.”

Canada and Pink Diamond Exploration

Diamond miner Rio Tinto is now exploring diamond mines in Canada.  Currently, the company has a 60% interest in the Diavik Diamond Mine.  The mine is in Canada’s remote Northwest Territories.  Rio Tinto states that ” the design, construction and operation of the Diavik mine is an epic saga of success on a grand scale in the most forbidding of places. Diavik commenced production in 2003 and has an annual production of some 6-7 million carats of predominantly large, white gem-quality diamonds.

 

Rio Tinto and Diamond Production

Rio Tinto has a joint venture with Canada’s Star Diamond Corp (DIAM.TO).  However, Rio Tinto declines to give separate figures for diamonds but notes that last year’s total exploration spend was $488 million.  Furthermore, its gross diamond sales in 2018 were $695 million and includes net earnings of $118 million, when comparing with group core profits, dominated by iron ore, of $18 billion.  Arnaud Soirat speculates that each pink diamond carat could be worth several million dollars.

 

Diamond Tender for Pink Diamonds

Soirat says that he is personally overseeing one of the last secret bid tenders, which offers 64 Argyle pink diamonds and closes on Oct. 9.  And that following the showing to potential buyers in London, New York, and Perth, Australia Soirat said there could be two more tenders, all dependant on Argyle’s production in its final months.  Such pink diamond tenders have been held annually since 1984.

A Pink Diamond Ring

A Pink Diamond Ring. Diamond specialists say the pink color is a twist within the atomic lattice during formation more than a billion years ago.

 

 

 

Pink Diamond Ring

A pink diamond ring on a beautiful rose petal background.

 

Pink Diamond Rings

Pink Diamond Rings have incredible sparkle and are very expensive. For example, the Pink Legacy Diamond is a type II diamond.

 

 

 

https://www.riotinto.com/canada/diavik-2232.aspx

https://www.reuters.com/article/us-riotinto-diamonds/rio-tinto-sees-rosy-future-for-diamonds-despite-end-of-argyle-idUSKBN1WB1SW

CTF Pink Star

https://www.sothebys.com/en/auctions/2017/the-pink-star-hk0770.html

https://www.sothebys.com/en/articles/what-makes-pink-diamonds-so-valuable-ctf-pink-star?locale=en

GIA Certified

https://www.christies.com/lotfinder/jewelry/the-pink-legacy-a-sensational-coloured-6164899-details.aspx?from=salesummary&intObjectID=6164899&lid=1

https://www.christies.com/SaleLanding/index.aspx?intsaleid=27664&lid=1&saletitle=

Harry Winston.

https://www.christies.com/features/The-Pink-Legacy-diamond-9398-3.aspx

https://www.diamonds.net/news/NewsItem.aspx?tc_dailyemail=1&ArticleID=64069

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http://www.1800loosediamonds.com/blog/2010/12/four-diamond-cs/

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August 15, 2019

Diamond Complaints

Diamond Complaints

New Orleans Saint quarterback, Drew Breese, has officially filed for a bevy of diamond complaints.  According to the original diamond complaint, Brees and Brittany his wife, claim that the diamond dealer and jewelry store owner, one Vahid Moradi advertised and sold them color diamonds and jewelry as an investment.  Several diamond and jewelry purchases throughout a four-year period from 2012 to 2016 were part of the diamond complaints.  This also includes a Harry Winston Diamond Ring.  Breese is now suing over the value of more than $15 million in precious diamonds, jewelry, and gems.  The suit alleges Moradi defrauded them out of more than $6.7 million and seeks damages for that sum.

Value and Diamond Complaints

According to the original diamond complaints, in 2017 Brees had the diamonds appraised and was told that their worth is tremendously over market value.  Furthermore, the diamond complaints state that many of the diamonds appraise for up to 40 percent to several hundred percent markups.  Additionally, in the diamond complaint in an article published by the JCK Magazine, mentions that diamonds that Moradi had purchased and then marked up significantly to sell to Brees was a Harry Winston diamond ring.  Also, that Moradi had paid only $565,000 for the Harry Winston diamond ring at a Sotheby’s auction, only to sell it one month later to Brees for $1.6 million.  The JCK magazine is a  jewelry industry trade publication that reports on industry news.

Diamond Complaint and Over Valuing

In the lawsuit, Brees claims that the jeweler knowingly deceived Brees and his wife about the value of the precious diamonds.  Overall, according to Fox 5 San Diego, Brees had paid about $15 million for diamonds that were only valued at a lowly $6 million.  Thus, leading to a variety of diamond complaints.  Furthermore, throughout the court case, Moradi argued his right to make a profit on his jewelry and diamonds, adding that no one was coerced into making a purchase.  Additionally, he argues that and said his markups were not extreme.  However, the court did not accept the argument and Brees won four main causes of action: breach of contract, breach of fiduciary duty and two counts of fraud.

Diamond Complaints and Appeal

While the diamond complaints from Brees was ruled in his favor, Moradi’s lawyer said he intends to file an appeal.  This case is very important for the jewelry industry for a bevy of reasons.  For example, Brees’case states that the jeweler was advising Brees on which diamonds to buy.  Therefore, according to the diamond complaint, Moradi went beyond the role as a traditional jeweler and was considered to be an investment advisor.  In that case, he had a duty to provide ethical advice.   The main issue for the diamond and jewelry industry is the precedent it sets. There are a variety of reputable retailer diamond dealers, retailers and brokers in the industry also advise their clients on which diamonds or jewelry to buy as a solid investment.

According to Roberto Chiapelloni, the owner of Manfredi Jewels in Greenwich, Connecticut says, “Using the word investment when selling a diamond puts you on a very shaky limb. We have no idea how the market for diamonds will go. We are selling something that will always have intrinsic value –but honestly, we can’t predict the market.  In my humble opinion, it is unethical to sell a diamond as an investment because you can’t guarantee its future value.”  Misleading consumers will lead to diamond complaints.

Commodity and Diamond Value

Just like all other commodities diamonds have an up-and-down cycle.  Furthermore, with the introduction of lab-grown diamonds, the diamond market and their retail prices are being affected.  Additionally, Chiapelloni mentions that “when we sell a diamond, there is not one word about investment; it is a jewel that will give you a lifetime of pleasure and a retention of a good portion of its value.”  One must question as to what real value is, and what appraisals are useful for.  Also, the case begs the validity of markups by jewelers.  Such as, “is there a cap and can a cap be enforced?”  Reducing secrecy will reduce people from making diamond complaints.

Diamond Complaints, Diamond Value

What is value?  The asking most honest jewelers will say that, subjective.  Again, leading to diamond complaints.  Appraisals exist for a host of reasons ranging from insurance purposes to wanting a “feel good” sense about the purchase.  Additionally, another reason is because of a desire to resell the piece of jewelry or the stone.  The end result of the appraisal is often a preface to the question, “what do you want the appraisal for?”  Appraisals vary, despite there being guidelines.

Diamond Markups and Retail Jewelry

As to markups, this is another subjective area. There is freedom for the jewelers to mark up any item and generally. Thus, leading to diamond complaints.  Also, a person knows walking into a store (or buying online) that a markup is there thanks to our capitalist system. While some brands or companies suggest a retail price, the jeweler can set the prices he wants.  “I am not suggesting that we set prices, but there has to be some rationale when doing so.

Retail and Diamond Markups

And customers have to do research and expect differences in pricing,” says Chiapelloni. “The exact same GIA-certified diamond coming out of Tiffany, for example, or coming out of Manfredi, if you remove the blue box or the yellow box, they are the same diamond in quality and clarity and other facts. But Tiffany has bigger prestige than my store, so realistically they can charge more.”  For example, one can expect that there will be an appeal.  Furthermore, this type of confusion can lead to diamond complaints. Adding that, this could be in the courts for another year.

Harry Winston Diamond Ring

According to the many diamond complaints filed against Moradi, eight items the Breeses bought over four years were in the diamond complaint that stands out.  Namely, a 22.26-carat Harry Winston diamond ring.  This Harry Winston Diamond Ring has a 3.01-carat pink diamond.  Also, they had purchased a 4.11-carat blue diamond.

 

 

 

 

 

 

Harry Winston Diamond Ring

A Harry Winston diamond ring is a major part of many diamond complaints against a diamond dealer. Also, many other diamonds were in question.

Diamond Complaints

The value of diamonds is often subjective. Often leading to diamond complaints.

 

 

https://www.naturallycolored.com/diamond-education/blue-diamonds-wiki

https://www.sothebys.com/en/articles/three-of-a-kind-larger-than-life-diamonds

Diamond Consumers

https://www.sandiegouniontribune.com/news/watchdog/story/2019-06-10/sd-me-brees-diamonds

Diamond Trading

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https://www.jckonline.com/editorial-article/facets-fine-jewelry-finds-new-digs/

https://www.jckonline.com/

https://www.jckonline.com/editorial-article/drew-brees-awarded-6-1-million/

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http://www.1800loosediamonds.com/blog/2014/02/diamond-jewelry-sales/

 

July 17, 2019

De Beers Diamonds

De Beers Diamonds

De Beers Diamonds is Closing their diamond-repurposing division, as improvements advancements in diamond cutting technology have reduced the need for its services.  The International Institute of Diamond Valuation (IIDV) set up in 2016 to purchase used diamonds.  The diamonds and jewelry goods no longer wanted and needed by customers.  The De Beers diamonds operation was put together after noting the troubles many consumers saw in trying to sell their jewelry at reasonably fair prices.

De Beers Diamonds

De Beers Diamonds help sustain the communities around them.

Consumer Demand and De Beers Diamonds

“The idea was to provide a way emphasize the never ended value of diamonds,” said a De Beers diamonds spokesperson.  However, it should be noted that since the IIDV was created the technology in the industry vastly improved.  Furthermore, online consumer-to-consumer selling platforms have become a more popular option.  “Following a number of years gaining experience in the diamond-recycling sector, we have taken the decision to suspend the activities of the International Institute of Diamond Valuation,” said David Johnson, a De Beers senior manager for media and commercial communications.

Moreover, he explains that “while the project is no longer a viable option, it has provided De Beers with valuable insight into consumer behavior and the needs of its retail partners. We know that consumer acceptance of the consumer-to-consumer market is growing and likely to be the future of this sector, and we will, therefore, continue to look for opportunities in this space.”

Loose Diamonds by De Beers

De Beers is a diamond miner.

Diamond Dealers and Rough Diamonds

Diamond dealers and manufacturers expressed a positive view for the US diamond market.  This comes after news that after polish diamond imports increased to levels not seen since 2014.  Imports into the US diamond market increased from 8% to $23.3 billion in 2018, according to the US Census Bureau.  This news comes with the fact that there has been a modest growth in diamond sales. Which is good news for De Beers diamonds on the market.

Furthermore, this indicates the industry may be sending large quantities of goods to the US in anticipation of future demand, traders noted.  “The US is still the [most important] marketplace for luxury items, and namely diamonds,” said Bruno Scarselli, a partner at Scarselli Diamonds, a New York-based supplier of high-end colored diamonds. “There are less restrictions doing business in the US than there are elsewhere in the world.”  Diamond markets such as Hong Kong and India can present difficulties when it comes to bureaucracy and speed of payment, so traders prefer to sell to the US, where they can receive cash faster, he added.

Rough Diamonds

De Beers mines rough diamonds and sells them to diamond dealers.

Diamonds and Retail Potential

De Beers diamonds sees the increase in USA polished diamond imports from 2018 suggests that the market is healthy.  The jewelry retail market continues to display strong potential.  In the USA the jewelry and diamond market grew in the year of 2018.  For example, sales of diamond jewelry in North America rose a total of 4  percent.  This according to research Alrosa, a diamond mining company. Furthermore,  demand faltered in the second half.

De Beers diamonds maintains that this is potentially due to political uncertainty, stock-exchange volatility, and the general market mood.  Moreover, Stanley Zale, vice president of diamond and gemstone purchasing at Stuller explains, “based on the last several months’ business performance, we are anticipating continued growth in 2019. “I’d be cautiously optimistic. There are so many unanswered questions in the US political environment, and that could have an impact on business.”

Best possible market for De Beers Diamonds

Diamond dealers see a change in the diamond trade toward the US.  While simultaneously continue to express uncertainty about the Far East.  The US is taking in a huge amount of diamonds that previously went to China. Furthermore, when demand in China was stronger they were able to supply them.  So says, Hertz Hasenfeld, president of New York-based polished manufacturer Hasenfeld-Stein.  Moreover, now Indian companies are increasingly targeting America diamond dealers with De Beers Diamonds.  Furthermore, by tempting dealers with sales initiatives and many are opening offices that they could very well be stocking with goods, he maintains.

De Beers Diamond Mine

De Beers diamond mine. Also, De Beers is a diamond manufacturer.

India and De Beers Diamonds

The country of India remained America’s largest source of polished goods last year.  India’s exports to the US see a gradual increase in imports from 11% to $9.09 billion. This is according to the Census Bureau. Moreover, supply from Israel grew 6% to $7.56 billion, while Belgium’s shipments saw a decline from 3% to $2.93 billion.  “There’s no doubt that the market right now is the US.  The world is preparing to assault the best possible retail marketplace that exists,” Scarselli added.

De Beers Diamonds in India

De Beers in India since the 1800s.

Data and De Beers Diamonds

The world’s largest diamond retail market is the United States.  Furthermore, the net polish imports representing imports minus polish exports typically are a net positive number. The net amount of rough imports will also usually have a surplus.  The United States does not have an operational diamond mine but does have a manufacturing sector.  This typically ship more rough in than out with the net diamond amount being total rough and polished imports minus total exports. The United States diamond trade balance shows the added value the nation creates by importing and ultimately consuming diamonds.

De Beers

Rough diamonds are mined by De Beers

 

Lab Grown Diamonds on the Market

Recently the US Federal Trade Commission (FTC) has sent letters to companies offering lab-grown or manmade diamonds, advising them that their marketing violates the government’s recently issued guidelines.  Moreover, it should be noted that some of these companies’ advertisements may be deceptive to consumers, the FTC noted in the letters. For example, in some cases, their marketing can imply that a simulated diamond, such as cubic zirconia or lab-grown moissanite, was, in fact, synthetic or a natural diamond.

However, in other cases, the companies imply that a lab-grown diamond was in fact natural.  Furthermore, the FTC recommended that these companies to use the name of any precious stone, including diamonds, to describe a simulated or lab-grown stone, unless the name is immediately preceded by a “clear and conspicuous disclosure that the product is not a mined stone.”

Advertising and Lab Grown Diamonds

The FTC has also advised companies selling manufactured diamonds to stop describing their products in a way that may imply that lab-grown diamonds have the same optical, physical and chemical properties of natural diamonds. Also, in July, the FTC revised its guidelines, including its definition of a diamond, from which it dropped the word natural, noting that lab-grown stones have the same properties as a mined diamond. However, the chemical makeup of simulants is completely different.  The consumer watchdog has issued warnings against using claims such as “eco-friendly,” “eco-conscious” or “sustainable” without qualification.  Suggesting that such terms can mistakenly suggest that certain specific environmental benefits.   Additionally, noting that vendors must have a reasonable basis for making these claims.

De Beers and Lab Grown Diamonds

Noting that explaining that such claims are difficult to substantiate.  Additionally, “the DPA welcomes the FTC’s warning to synthetic diamond manufacturers against misleading consumers with their marketing tactics,” it said in a statement to Rapaport News Wednesday. “This warning is an important step toward transparency and consumer protection.” The warning emphasizes the FTC’s intention to enforce its guidelines, the Diamond Producers Association (DPA) noted.

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https://www.debeers.com/ 

https://www.kitco.com/ind/Zimnisky/2013-06-06-A-Diamond-Market-No-Longer-Controlled-By-De-Beers.html 

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Lesedi La Rona Diamond

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https://www.businessinsider.com/history-of-de-beers-2011-12

https://are.berkeley.edu/~sberto/DeBeersDiamondIndustry.pdf

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April 8, 2019

Engagement Rings in Los Angeles

Engagement Rings in Los Angeles 

When consumers are searching for engagement rings in Los Angeles many options come up.  There are many fine jewelry stores specializing in engagement rings in Los Angeles.  Choosing the right store is imperative for having the right kind of shopping experience.  Furthermore, finding the right engagement rings in Los Angeles should start by utilizing the best resource we have, the diamond and jewelry market online.  Additionally, you can find all the reviews and information you need to find the best source to find engagement rings in Los Angeles.  That way, a consumer can browse all the inventory they like, and find the right store to visit.  Also, it is important to work with a reputable jewelry and diamond dealer.  Using a trusted source for reviews like Yelp or Google can be a tremendous asset when making a purchase.

Engagement Rings in Los Angeles

Engagement Rings in Los Angeles 1800LooseDiamonds.com

Styles for Engagement Rings in Los Angeles

Additionally, potential consumers have so many choices on different engagement ring styles.  For example, finding vintage style engagement rings in Los Angeles are found at 1800LooseDiamonds.com.  There are a bevy of other engagement ring styles to consider; modern style, classic style, and halo style among many others.  While choosing a diamond ring can be a daunting task, professionals are eager to help.  1800LooseDiamonds.com is world renowned for its excellent customer service.

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Engagement Rings in Los Angeles at 1800 Loose Diamonds.com

Vintage Style Engagement Rings in Los Angeles 

There are many things to note when shopping for vintage style engagement rings.  Specifically, when searching for vintage style engagement rings in Los Angeles one should look to engraving patterns.  For example, one such style that is featured prominently is filagree hand engraving.  Filigree is a process in which metal, gold or platinum is fashioned into a coil and then by bending tiny threads and of beads into beautiful patterns by soldering them together, or onto another metal surface.  The word derives from the Latin word filum.

Engagement Rings

Notice the detailed work on this engagement ring.

Techniques for Vintage Style Engagement Rings

Which means to thread, and milling grain. Furthermore, one can also expect to see the miligrain style of engraving.  Many times customer will opt for vintage style engagement rings that have yellow diamonds, set it yellow gold metal.  This style really enhances the old style, pre-1900 motif. Many vintage style engagement rings come with round diamonds and in yellow gold.  Therefore, these vintage style engagement rings also fit the antique style motif.  Likewise, one may find that vintage style engagement rings have twists and round diamond halo accents.  Furthermore, you can expect to see filigree engraving on the halo and along the shank.

Art Deco Engagement Rings in Los Angeles

The art deco style of engagement rings is a unique style that focuses on square and rectangular motifs.  For example, many of these art deco style diamond engagement rings use emerald cut diamonds as their center stones.  There is also a focus on angles and engravings.  1-800 Loose Diamonds offers a variety of Art Deco Engagement Rings. The style of Art Deco Engagement rings comes from the 1920’s era of design.  The style of art deco engagement rings use sharp geometric shapes and are a lovely style of engagement ring for those who prefer a classic, look that promises to catch the modern eye.

1800 Loose Diamonds has Engagement Rings in Los Angeles

Searching 1800LooseDiamonds.com can be easy when looking to find the perfect engagement ring in Los Angeles.  Or, one can find our physical in-store location at 550 S. Hill St #777, Los Angeles, California 90013.  We carry a variety of engagement rings in Los Angeles in store.  You can view our engagement ring selection.  We have 100’s of styles to choose from, and we offer custom made work at no extra charge.

Rings in Los Angeles

You can find these signature 1800LooseDiamonds.com rings in Los Angeles, in store!

Engagement Rings in Los Angeles

Gem Quality Lab Grown Diamonds can be with engagement rings in Los Angeles.

 

Custom Made Engagement Rings In Los Angeles

Celebrities love showing off their jewelry.  From the legendary Elizabeth Taylor’s emerald and diamond rings to the huge diamond of Paris Hilton, celebrities give us a lifetime supply of ring inspiration. No matter the stone type (we’ve got sapphire, emeralds, and canary yellow diamonds ahead) to the carat size (including a 40+ carat stone), there’s a dazzling celebrity engagement sparkler for every sense of style. Here are the most gorgeous rings of all time as seen on our favorite celebrities, royals, and boldface names.

Designing Rings and Choosing a Style

The first thing to do when trying on rings is to find the center diamond you want for your main attraction.  Additionally, it is good to know the type of color metal you like.  Custom diamonds rings come in metal colors.  For example, white gold, yellow gold, platinum, and silver are all considered precious metals.  Furthermore, it should be noted that while silver is a precious metal it is not considered a standard for fine jewelry.

What is precious metal?

Jewelry used precious metals to craft fine jewelry and diamond rings.  Additionally, precious metal is a rare, naturally occurring metallic chemical element of high economic value. For example, chemically, precious metals tend to be less reactive than most elements.  Furthermore, their properties include being ductile and have a high refractive lustre.

With regards to history, precious metals were important as they functioned as a type of currency.  However, in modernity, they are now regarded mainly as investment and industrial commoditiesGoldsilverplatinum, and palladium. Each metal has an ISO 4217 currency code.

More on Precious Metals

Gold and silver are the most widely know precious metals due to popularity.  Namely, this is because of jewelry and diamonds fashion.  Asides from fine jewelry, the best known precious metals are the coinage metals. Consequently, both have industrial uses.  However, they are better known for their uses in artjewelry, and coinage. Other precious metals include the platinum, rutheniumrhodiumpalladiumosmiumiridium. Platinum being the most widely traded and used in jewelry.   Asides from the use in jewelry, art and industry tools the demand for precious metals is driven not only by their practical use but also by their role as investments. As well as their store of value. Since antiquity, precious metals have commanded much higher prices than common industrial metals.

 

 

https://www.townandcountrymag.com/style/jewelry-and-watches/g15338229/best-celebrity-engagement-rings/

https://www.townandcountrymag.com/style/jewelry-and-watches/a26360336/katy-perry-engagement-ring-worth-cost-details/

http://www.1800loosediamonds.com/blog/2018/10/emerald-cut-diamond-ring/ ‎

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October 25, 2018

Emerald Cut Diamond Ring

Filed under: 1-800 Loose Diamonds,Featured — Elan Lamden @ 7:32 PM

Emerald Cut Diamond Ring

An emerald cut diamond ring sold in New York at a diamond auction for $444,500.  The diamond auction was hosted by Bonham’s New York.  The emerald cut diamond ring previously belonged Olympic gold medalist Katherine Domyan.

Emerald Cut Diamond Ring

You are looking at our Art Deco Style Emerald Cut Diamond Ring shown in platinum with a 2 carat emerald cut diamond.

Harry Winston Emerald Cut Diamond Ring

The emerald cut diamond ring sold is a 23.13-carat Harry Winston piece.  The main center emerald diamond is an I-color and I1-clarity grading.  The suggested price for this special emerald cut diamond ring began diamond auction at $250,000.  It is one of the very best sellers from the collection owned by the Olympian.

A sample of Emerald Cut Diamond Ring

A solitaire Emerald Cut Diamond Ring

Auctioneer Notes

Caroline Morrissey, senior jewelry inspector, and appraiser of Bonhams New York explains. “We had considerable interest in our top lots with buyers from more than 20 countries participating in the sale.”

Diamonds Selling Well

During the diamond auction, diamonds jewelry outperformed expectations.  Specifically, the emerald cut diamond engagement ring in the feature.  As well as diamond pieces from Harry Winston, Morrissey says.  Along with Domyan’s Emerald Cut Diamond Ring her 86.30-carat diamond fringe necklace sold for $492,500 as well as another necklace weighing 66.20 carats that sold for $324,500.

Art Deco Style Jewelry

Art Deco jewelry also sold well.  A  ruby and diamond Van Cleef & Arpels bracelet earning $504,500.  Also, another big item sold is a 1925 emerald and diamond Art Deco bracelet by Tiffany which started a bidding war, selling for $187,500.

Bonhams’s next fine jewelry sale will take place on Wednesday in London, followed by Hong Kong in November and a New York auction in December.

Diamond Auction and Fine Jewelry

This year’s diamond auction features more than 60 pieces of fine jewelry.  These pieces date from the 1970s up until the early 2000’s.  The diamond auction takes place at Bonhams New York.   These pieces also come from the collection belonging to the estate of two-time Olympic gold medalist Katherine Domyan.  Furthermore, the sale will take place at Bonhams New York on September 21, with previews September 16–20, and previews in Los Angeles September 5-10.

Famous Jewelers

Many of the world’s most famous jewelry houses including Harry Winston, Van Cleef & Arpels, and David Webb are on offer.  The approximate value somewhere around $2.1 million and $3.15 million. Furthermore, an interesting back story of prestige and glamour add to the value and lore of these prestigious jewels all the more appealing.

Glamour and Glitz and Famous Jewelers

The vast majority of these famous jewelers pieces belong to famous athletes, musicians, and socialites.  One such athlete, an Olympian born in Budapest, Hungary is Katherine Domyan.   Budapest, Hungary, Domyan was a champion swimmer at the age of 17 and was chose to compete in the 1952 Helsinki Olympic Games. There, she won two gold medals and set world records in the 100-meter freestyle relay and the 4 x 100–meter freestyle relay.  Furthermore, in 1961 went on to marry fellow Hungarian refugee, Arpad.

Famous Jewelers and Socialites

During their time America, the couple became successful real estate moguls in Los Angeles as well as avid consumers of fine jewelry designed by famous jewelers.  Furthermore, it was said that they frequented between New York, Los Angeles, Paris, and the south of France and lived a glamorous lifestyle.  A lifestyle that was centered on black-tie events, large diamond pieces from famous jewelers.  Some of which were featured at the Bonhams auctions.

https://www.jckonline.com/editorial-article/katherine-domyan-jewelry-bonhams/

http://www.1800loosediamonds.com/blog/2017/05/emerald-cut-diamonds/

http://www.1800loosediamonds.com/blog/2017/06/cushion-cut-diamonds/

http://www.1800loosediamonds.com/blog/2017/09/princess-cut-diamonds/

http://www.1800loosediamonds.com/blog/2010/12/ideal-princess-cut-diamonds/

http://www.1800loosediamonds.com/blog/2013/12/rose-gold-diamond-ring/

http://www.1800loosediamonds.com/blog/2013/01/gemstones/

http://www.1800loosediamonds.com/blog/2017/04/engagement-rings/

 

October 2, 2018

Gem Quality Lab Grown Diamonds

Gem Quality Lab Grown Diamonds

A Japanese company, one Tokyo based Pure Diamond Company claims that they are their countries very first manufacturer of gem quality lab grown diamonds.  Also known as a CVD Diamond and or a Synthetic Diamond.  Furthermore, the company is aiming for their first year in production.  Suggesting the potential annual output of 24,000 carats of gem quality lab grown diamonds.

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Mission Statement from Pure Lab Grown Diamonds

For example, the company, Pure Diamond Co., Ltd. mentions they are the first company in Japan that specialize in lab grown diamonds.  Also known as a CVD Diamond which is a synthetic diamond.  Calling themselves specialists in their respective field. Furthermore, they not that all of their diamonds are 100% guaranteed with respect to their origin.  As well as the fact that unlike underground diamonds that are mined, a CVD diamond causes no environmental damage to the earth. What is a CVD Diamond?

CVD diamonds and lab grown diamonds do not contain impurities that are formed during the natural process that create diamonds.  A CVD diamond will often emit pure and symmetrical radiance.  However, just like natural diamonds, each of these diamonds contains their own individual features and growth patterns.  Making each CVD diamond unique.  Today, making Gem Quality Lab Grown Diamonds is a reality.

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CVD Diamonds and Gem Quality Lab Grown Diamonds

This same Tokyo based operation, Pure Diamond Company launched in July.  The diamonds grown are a spin-off from a producer of synthetic diamonds and CVD diamonds for industrial purposes.  In other words, not gem quality lab grown diamonds.  The company’s initial plans are to begin by selling its CVD Diamonds and gem quality lab grown diamonds to Japanese wholesalers and retailers.  And after, plan to move directly into the retail and e-commerce sector.  Although determining this at a later phase of operation is likely.

Synthetic Diamond and CVD Diamond Value

Managing director Takuya Ito of Pure Diamond Company, told Rapaport News last week.  “If market demand will increase, we can expand our capability.”  The company is also launching a cryptocurrency as well as gem quality lab grown diamonds.  The CVD Diamond and Synthetic diamond manufacturing process now come in higher quality and are easier to make.

Gem Quality Lab Grown Diamonds and Equipment

Takuya Ito says that the intention of the Pure Diamond Company is to fund production equipment.  As well as research and development. The pre-sale of tokens launched on Saturday. It is also using blockchain technology to provide consumers with information on the diamonds’ provenance and characteristics.

Technology and Gem Quality Lab Grown Diamonds

The firm’s chief technology officer for Gem Quality Lab Grown Diamonds Junma Kawasaki mentions that he is a “white-hat” hacker.   The technical term for a computer specialist who tests the security networks for companies.  He was also responsible for solving the January theft of $500 million in digital money from Coincheck.  A Japanese cryptocurrency exchange, it claims.

Blockchain Technology and Gem Quality Lab Grown Diamonds

Ito adds that not only does Pure Diamond’s technology include Gem Quality Lab Grown Diamonds, they also utilize blockchain technology.  Thus this will help lab-grown diamonds are traceable.  Furthermore, their intention is to use this technology to remain separate from the natural diamonds in the supply chain.

Synthetic Diamond and CVD Diamond

Gem Quality Lab Grown Diamonds have come a long way.  At the present moment, it is uncertain as to what the scope of the world’s synthetics production is.  However, it is important to note that the synthetic diamond and CVD diamond markets are growing quickly.

Sales and CVD Diamond and Gems

One should note that the CVD diamond market accounts for only 3% to 4% of sales in the global diamond market.  That when compared to that of the size of the natural sector.  Furthermore, De Beers chief financial officer Nimesh Patel mentioned that the approximate global rough production is around  150 million carats, De Beers chief financial officer Nimesh Patel estimated in an interview with Rapaport News last month.

A sample of a CVD Diamond

A CVD Diamond has the same atributes as a regular diamond.

CVD Diamond and Value

Considering the value and scarcity of diamonds, consumers should not be aloof to the fact that vendors seek ways to replicate them.  Lately, in the diamond business, laboratory-grown or synthetic diamonds are gaining in popularity.  Furthermore, the CVD diamond and various synthetic diamonds have become harder to detect.  Even with complicated diamond testing equipment.

A synthetic diamond is not a natural diamond.  Rather, a CVD diamond is the result of a technological process.  For example, a natural process that creates diamonds takes millions of years through extreme pressure and heat.  A synthetic diamond does essentially contain the same chemical composition, crystal structure, optical, and physical properties of diamonds found in nature. Most synthetic diamonds are the result of either high-pressure, high-temperature (HPHT) or chemical vapor deposition.  The latter is commonly for short as a CVD Diamond.   Being that a CVD diamond is almost identical to a natural diamond, it is becoming increasingly difficult to differentiate between the two.  For example, identifying natural and CVD diamond differences only become clear when they are thoroughly in a gem laboratory.

Synthetic Diamond

A sample of a synthetic diamond found at 1-800 Loose Diamonds.

https://www.diamonds.net/news/NewsItem.aspx?tc_dailyemail=1&ArticleID=62738

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April 3, 2018

Lesedi La Rona Diamond

The Lesedi La Rona Diamond

The Lesedi La Rona diamond is an 1109 carat gem quality diamond and was found at the Karowe Diamond Mine.  For example, it resembles a tennis ball in size.  The Lucara Diamond Corporation, a Canadian diamond mining company found the diamond.  Furthermore, after an entire year of negotiations, the world famous David Graff of Graff Diamonds made the purchase of a lifetime.  Additionally, the total for the entire sale was $53 million dollars US.  However, it was after this year of negotiation that brought the price from $70 million US down a whopping $17 million.  Also, the diamond is classified as a D in color.  Also, A D color diamond means there is no hint of diamond color in it.

Lesedi La Rona Diamond

The Lesedi La Rona Diamond is a 1109 carat rough diamond.

Lucara Diamond Corporation and Selling the Lesedi La Rona Diamond

The Lucara Diamond Corporation of Canada notes that the Lesedi La Rona Diamond is just too big to sell.  Furthermore, the chief executive of Lucara Diamond Corporation mentions that “It’s only the second stone recovered in the history of humanity over 1,000 carats. Why would you want to polish it?  The stone in the rough form contains untold potential.

Lucara Diamond Corporation

The Lucara Diamond Corporation is responsible for finding the Lesedi La Rona Diamond.

 

Origins of the Lesedi La Rona Diamond

Formerly known in media as Karowe Ak6 or as Quad 1 by the miners is the third-largest diamond ever found, and the second-largest of gem quality.  For example, the only two larger stones are the blackSergio, which is not gem-quality and the Cullinan, which is gem quality.  It was found in the country of in Botswana on 16 November 2015.  The name of the mine where it comes from is the Karowe Diamond mine.

Karowe Diamond Mine

For example, Karowe Diamond Mine kimberlite pipe produced the Lesedi La Rona

Naming the Lesedi La Rona Diamond

Initially, the diamond was first given a generic name after the Karowe Diamond Mine and the pipe (AK6).   However, on January 18th, 2016 Chief Executive Officer of Lucara Diamond Corporation, William Lamb, made an announcement for a competition.  The competition open to all Botswana citizens, to name the stone.  Additionally, the winner would receive P25,000 (about $2,170) as a prize.  The winner of the competition who named the diamond was Thembani Moitlhobogi from Mmadikola.  The Lesedi La Rona Diamond translates to the name ‘Our Light’ in the national language of Botswana, the Tswana language.  He mentions that his reason for the name was that “the diamond is a pride, light, and hope of Botswana.” During the competition, Lucara Diamond Corporation had 11,000 emails and 1,000 SMSs with name suggestions.

 

Description of the Lesedi La Rona Diamond

The Lesedi La Rona Diamond is a colorless white diamond.  Furthermore, it is a special type IIa diamond.  The weight of the diamond weighs in at 1,111 carats (222.2 g; 7.84 oz) and its dimensions are 65 mm × 56 mm × 40 mm (2.6 in × 2.2 in × 1.6 in).  The only other larger gem-quality diamond ever found is the Cullinan Diamond, found in 1905 in South Africa, and weighs in at 3,106.75 carats (621.350 g).  Furthermore, the age of the diamond is around 2.5 billion years old.

Lucara Diamond Corporation and Mining the Lesedi La Rona at the Karowe Diamond Mine

The Lesedi La Rona Diamond was extracted using Large Diamond Recovery (“LDR”) XRT machines.  For example, this method uses machines for automatic diamond sorting.  Also, the diamond was too large for the machines scanners. The result being an error. In May 2015, the operation at the Karowe Diamond Mine replaced their Dense Media Separation (DMS) technology.  The new machines are the TOMRA XRT sorters for sorting material in the -60+8 mm size range.  Likewise, the X-ray transmission (XRT) sorting technology was chosen after following a suite of tests.  Also, each machine can sort up to 150 metric tons (330,000 lb) of diamond material hourly.  Additionally, after that, the selecting must be direct to hand sorting.  Furthermore, The Karowe Diamond Mine is the first mine using this automated diamond sorting solution.

 

The Karowe Diamond Mine and the Discovery of Lesedi La Rona Diamond by Lucara Diamond Corporation

The discovery date of the Lesedi La Rona Diamond is in the Karowe Diamond Mine is November 16th, 2015.  Just under the South Lobe of the Karowe Diamond Mine about 200 m (660 ft) below the surface.  Likewise, The find made news on November 18th.   Furthermore, only 0pen for 18 months the AK6 pipe has brought in over 1,000,000 carats (200 kg) of diamonds.  For example, a large diamond recovery (LDR) machine utilizing X-ray transmission sensors.

 

 

 

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http://www.1800loosediamonds.com/blog/2019/07/de-beers-diamonds-2/

March 28, 2018

Diamonds Help

Diamonds Help the World Economy

How do Diamonds Help the world economy? Programs like the Updated Kimberley Process, the Diamond Empowerment Fund and the Responsible Jewellery Council help strengthen Sustainable Development Goals and ties between corporations and communities.

Diamonds Help

Diamonds Help sustain the communities around them.

The Updated Kimberley Process, the Diamond Empowerment Fund, and the Responsible Jewellery Council

It is through these programs that diamonds help the world.  For example, consider the story of Srk diamonds in India. Dr. S.P. Shrivastav, is the head of the hospital’s oncology unit.  He explains that this facility is making treatments available to tens of thousands of people.  Especially to those who previously didn’t have access, he says.  While in front of a new hospital in Surat, India. Govindbhai Dholokia is prideful when he explains that the list of donors he holds, made this facility a reality.

He explains, “Everyone here works with their hearts,” says Dholokia, chairman of diamond manufacturer SRK Exports and co-founder of the hospital. “This project represents the heart of the diamond industry.” Additionally, it was not until this hospital’s opening that the city of Surat offered to care for patients in need of specialized care.

Diamond Empowerment Fund

1800Loosediamonds.com supports the Diamond Empowerment Fund.

The World Economy and how Diamonds Help

It is because of the generosity and prosperity of the industry that diamond help build so many projects for those in need.  For example, Surat’s diamond industry leads in the manufacturing sector.  Additionally, they account for around 80% to 90% of global diamond polished production.  Therefore, one could conclude that diamonds help fund and contributed most of the $75 million it took to build and set up the facility.  One foreign donor explains that “this really is a testament to the heart of the Surat diamond community, I don’t think the diamond industry markets its good deeds enough.”

Updated Kimberley Process

1800LooseDiamonds.com supports the Updated Kimberley Process.

Push the Positive that Diamonds Help

It is important that the diamond industry push that positive that diamonds help create jobs and opportunities. For example, it would be important to highlight the positive impact the diamond industry has on its communities, the economy, and potential opportunities.  Furthermore, it should be noted that South African president Nelson Mandela urged rap mogul Russell Simmons to adopt this strategy just over a decade ago. Nelson urged Simmons to note that diamonds help communities by providing jobs and funding for projects while he was contemplating a jewelry line of his own.  Simmons went so far as to embark on a fact-finding mission to understand how diamonds help the communities it employs.  Thus this could benefit the people of southern Africa.

Dispelling the Negative Narrative

The release of the 2006 movie “Blood Diamond” did considerable damage to the industry.  The movie highlights the industry’s role in the in Sierra Leone’s civil war.  However, after Simmons toured the mining and manufacturing facilities in South Africa and Botswana he the had to confirm that the diamond industry helped fund and facilitate hospitals and infrastructure.  Thereby concluding that diamonds help support those communities, Simmons recognized the opportunity that lay ahead.  Furthermore, Simmons went so far as to set up the Diamond Empowerment Fund (DEF).  Thereby giving back to youth in the communities where the diamond industry operates.

Diamonds Help Change the Narrative 

The Diamond Empowerment Fund is now operating in its 10th year.  Furthermore, the Diamond Empowerment Fund (also known as the DEF) has given countless amounts of funding to student grants.  As well as to organizations that facilitate access to better education as well as vocational training and skill-building.  Diamonds help with this idea in that the industry helps facilitate the idea that students should come back and contribute to the economic development of their home countries.  Thus explains DEF executive director Nancy Orem Lyman.

For example, the Diamond Empowerment Fund helps fund the Johannesburg-based African Leadership Academy, the Botswana Top Achievers program, and Veerayatan, a nonprofit providing educational, social and medical services in India. The DEF has also in the past supported the Diamond Development Initiative (DDI) in in the Democratic Republic of the Congo (DRC).  However, has since ceased operations there due to civil war.

 

Diamond Empowerment Fund

The Diamond Empowerment Fund does rely on donations from companies throughout the diamond pipeline.  Organizations director Orem Lyman explains that they are not only about financial support.   Orem maintains that “we want to change the narrative surrounding the diamond industry.” Furthermore, she maintains that “people need to know about the good that diamonds do, and that miners, manufacturers, and jewelers are contributing to uplift those less fortunate.”  The bottom line is that diamonds help the world population.  For example, that even includes the work jewelers are doing in their own communities. Additionally, the Diamond Empowerment Fund created  “Diamonds Do Good” site, which provides a platform where diamond industry companies can tell share stories about the positive impact diamonds are having on community surroundings.

Diamonds Help and it Makes Sense

Why are diamond industry leaders helping make the global community better?  That is because, for many of these dealers, these specialized projects are joint ventures between the communities they surround. And the consumers demand for it.  For example, in Dubai during the Dubai Diamond Conference, Ernie Blom, the president of the World Federation of Diamond Bourses mentions that “Consumers are looking for products that are made responsibly and which provide a fair livelihood for the people who are mining and producing these items “we must continue to show that these are our aims as well.”

Additionally, employees representing mining giants De Beers and retailer Signet Jewelers maintain that consumer interest is a core reason for corporate responsibility to the communities they surround.  For example, programs can include both community support and efforts to maintain the integrity of the company’s products.  And, according to panelists at the conference.

The Updated Kimberley Process is a Success

Acting president of the World Diamond Council Stéphane Fischler explains that the industry had come a long way since the 2003 establishment of the Kimberley Process Certification Scheme. The Kimberley Process verifies that a country’s rough-diamond production is conflict-free.  Additionally, he explains that many outsiders are still skeptical about the industry’s efforts to increase transparency.  The aim is being able to meet or supersede the ethical standards consumers are seeking.  For example,  Fischler, whose organization represents the diamond industry at the Kimberley Process acknowledges the need to update the certification scheme.  And furthermore,  update the Kimberley Process by reviewing and assessing whether it is fulfilling its core mission.

The Updated Kimberley Process

Part of the discussion is the Updated Kimberley Process.  This project is designed to broaden the scope of its reach and authority.  For example, one part of the updated Kimberley Process aims to broaden the scheme’s narrow definition of conflict diamonds.  Specifically, to include violence related to diamond miners and their communities. For example, Fischler explains that the DDI, which is now in its 10th year of operations has a new updated Kimberley Process program in place.

Help and the Updated Kimberley Process

With trends suggesting consumers want an updated Kimberley Process that will encourage responsible and violence-free mining in the artisanal sector.  Furthermore, at the conference, Fischler called the new updated Kimberley Process “the best story we have today.” Thereby highlighting the industry’s commitment to integrity and global sustainability goals.  Additionally, he adds that the updated Kimberley Process contributes by showing a unified effort was necessary to ensure the continued implementation of the scheme.  Furthermore, the updated Kimberley Process will comply with the WDC’s system that warranties self-regulation standards.  Thereby ensuring its contribution to overall Sustainable Development Goals.

Sustainable Development Goals and the Updated Kimberley Process

Among other things, the new updated Kimberley Process will require diamond suppliers to pass on a warranty statement.  For example, each time a diamond changes hands.  This includes jewelry manufacturers.  Thereby assuring the next buyer that the goods have gone through the updated Kimberley Process system.  Thus contributing to sustainable development goals.  Additionally, the WDC is also reviewing the system of warranties by exploring the ways to highlight awareness and introduce a stronger element of due diligence.

The Responsible Jewellery Council and Sustainable Development Goals

Another important organization seeking to enhance the integrity of the trade is the Responsible Jewellery Council.  The Responsible Jewellery Council has over 1,000 members. These companies have made a commitment to their strict standards.  For example, the Responsible Jewellery Council code of practices for diamonds, gold, and platinum-group metals are certified conflict-free.  Additionally, the code addresses human rights, labor rights, environmental impact, mining practices, and product disclosure.  That, amongst other issues the Responsible Jewellery Council views pertinent.

Responsible Jewellery Council

1800LooseDiamonds.com supports the efforts of the Responsible Jewellery Council.

Beyond the Responsible Jewellery Council and Sustainable Development Goals

There has been a steady pressure industry-wide for companies to align with the 17 UN Sustainable Development Goals (SDGs).  The Responsible Jewellery Council had strong support for the sustainable development goals it set forth at the Dubai Diamond Conference.  And again, the topic of sustainable development goals were part of the focus at the Diamond Conference.  Of which De Beers was the sponsor in Gaborone during October.  De Beers Group encouraged enterprises to use the Sustainable Development Goals as a guide for their social responsibility agendas.  As did representatives from the Responsible Jewellery Council.

Furthermore, the diamond industry has the potential to contribute to the sustainable development goals.  A De Beers representative explains that in a report earlier this year. “The ongoing success of diamond companies will depend on accountability across the diamond value chain regarding contributions to sustainable development goals.”

Sustainable Development Goals

Sustainable Development Goals are a commitment to the best environmental practices.

 

Diamonds Help the Updated Kimberley Process

The concept of best practice principles was introduced by De Beers’.  This helps De Beers’ determine whether its projects and those of its clients.  Additionally, they must comply with the updated Kimberley Process, ethical business standards and ensuring diamonds help the communities around them.  The diamond empowerment fund, the Responsible Jewellery Council, and the Sustainable Development Goals have been implemented.  And this was done by De Beers’ and its associates.  However, it should be noted many goals have been put forth to ensure diamonds help their surrounding communities.   For example, a noteworthy focus during the year of 2017 has been gender equality.

Diamond Empowerment Fund and

Katie Ferguson, the company’s head of social impact explains.  Furthermore, the company has partnered with UN Women.  Thereby, working to provide opportunities for women in both its own organization and the communities where it controls. Furthermore, environmental issues are also an important focus. With De Beers aiming to achieve carbon-free mining within five to 10 years.

The WFDB’s Blom mentions that unfortunately many of these efforts tend to go unnoticed.  For example, one problem is exposure to these good deeds.  He mentions, “we just need to find a way to get this information out to consumers,” he says.  Like his counterpart, DEF’s Orem-Lyman agrees.  Furthermore adding that the larger enterprises are not the only ones engaged in such programs.  Also that,  “the industry is predominantly made up of family-run businesses, and these are families that give back. People don’t know about it, but doing good is part of the industry’s DNA.”

New Diamond News

The diamond miner Alrosa is now a partner with in a joint venture with national miner Zimbabwe Consolidated Diamond Company (ZCDC).  Their intention is to explore new diamond projects in the country.

The new diamond venture between the two companies will provide Alrosa with a 70% stake in any new greenfield deposits.  Furthermore, it will encompass geological exploration, diamond mining and independent sales of rough stones to external markets.  Said the Russian diamond miner.

Updated Diamond News

Alrosa CEO Vladamir Marchenko explains that “we are committed to productive work in the exploration of new, promising areas and subsequent diamond mining.” Moreover, he explains that “our specialists have been working in Zimbabwe for more than three months now, and the national authorities have been of great support to them. We have chosen various projects for the joint venture, and part of [those] will be launched this autumn.”

Alrosa and Zimbabwe

In new diamond news Alrosa primarily considering areas located in the Chimanimani region of Zimbabwe. Marchenko noted, stressing that Alrosa did not plan any operations in Marange.  Furthermore, despite reports that indicate it was considering the move. Zimbabwe’s Marange fields were a source of contention.

This after state forces killed almost 200 citizens in 2008.  This was in an effort to clamp down on informal mining.  Thus, resulting in the country’s removal from the Kimberley Process (KP). The KP reinstated Zimbabwe in 2011, however, US sanctions against Marange diamonds remain intact.

Alrosa and Diamond News

“Alrosa only explores and considers the feasibility [in] other parts of the country,” Marchenko said.  Adding that “the company has never, and under no circumstances, considered, and won’t consider, the possibility of entering the Marange region.”  Aldo, in December, Alrosa established Alrosa Zimbabwe Limited.  This offshoot will be an affiliate company that will oversee all projects in the country.

Diamond News

Alrosa is a diamond miner.

https://www.diamonds.net/news/NewsItem.aspx?tc_dailyemail=1&ArticleID=63936

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March 22, 2018

Men’s Diamond Rings

Filed under: Uncategorized — Elan Lamden @ 4:20 PM

Men’s Diamond Rings

You are looking at our men’s diamond rings blog.  1800LooseDiamonds.com handmakes all of our men’s rings in Los Angeles, California using only the finest materials and craftsmanship. Shopping for men’s jewelry can be difficult, especially men’s diamond rings.  There are many styles to consider.  For example, men’s plain bands. Furthermore, many men find wearing a ring to be challenging. Additionally, black gold men’s rings are a popular style to consider as well as the euro shank men’s rings.

Men's Diamond Rings

Men’s Diamond Rings

Men’s Rings Versus

There are a variety of Men’s diamond rings to choose from.  It is important to choose the correct type of ring to suit the gentleman.  For example, a man’s ring is not called an engagement ring  Things to consider, size, metal type, design, and practicality.   Some men’s diamond rings are not practical for daily use, as they can be bulky.  Furthermore, wearing a ring can be uncomfortable depending on the man’s daily work and habits.

Men’s Diamond Rings

Some gentleman question wethering wearing a ring with will look good on their hand altogether.   However, with guidance, one can choose the right type of man’s ring.  It is best to start by considering the overall style of the men’s ring.  Searching online for men’s rings available online, though, you may have trouble choosing the one for you.  Here we will discuss all things to consider before making a decision on purchasing a man’s ring.

Euro Shank Men’s Rings

A unique style of men’s rings is the Euro shank men’s rings.  These men’s diamond rings offer a comfortable style of men’s ring.  This is due to the flat surface on the bottom of the ring that is then rounded.  Making for a comfortable for men’s rings.

Euro Shank Men’s Rings

Here is a sample of a princess cut men’s ring with a euro-shank.  The euro shank style men’s ring is a great alternative to a fussy gentleman who wants a man’s ring with diamonds.  

Men’s Plain Bands

When shopping for a man, think simplicity.  Many Men typically prefer simple men’s plain bands.   This is because they are usually more comfortable as well as more practical to use daily.  These are different from men’s diamonds rings as these have no stones.

Men’s Plain Bands Continued

For example, plain men’s bands also come in comfort style.  Additionally, the comfort fit style men’s plain bands has rounded edges for a smooth surface.  This type of men’s plain bands is described as men’s rings that is a dome style in the interior.  This is where the ring touches the finger.  Furthermore, instead of a flat style, like the standard fit, the diameter at the exact middle of the men’s plain bands.  Thus, between the two edges, it is smaller than the diameter at the edges of the ring.

Hence the name, comfort fit.  For example, one thing to consider is the size of the gentleman.  Furthermore, then one can consider what width and style to go with.  We suggest for a larger size man, with a ring finger size of 8, a 6-millimeter band or larger width.  Another important factor to consider is how comfortable the band is.

Black Gold Men’s Rings

Many consumers do not know that men’s rings come in black gold.  Furthermore, these items are unusual in that they are real gold but they use a rhodium that chemically changes the color to this darker metal.  Additionally, notice there are a few shades of black gold.  1800LooseDiamonds.com offers a large selection of men’s rings in black gold.  For example, black gold men’s rings can be done in any style, including euro shank men’s rings.  Also, when searching for black gold men’s rings be sure to note that the rhodium or gold plating may fade after time.  This is very standard with black gold men’s rings.

Gold Plating and Black Gold Men’s Rings

When black gold men’s rings start to fade after time they need to be taken to your jeweler for re-plating.  Gold plating can be done at 1800LooseDiamonds.com.  It is a method of adding thin layers of gold onto the surface of another metal.  Typically, the most often used metal is copper amd silver (to make silver-gilt).  The by chemical or electrochemical plating.  Furthermore, gold plating of silver is used in the manufacture of jewelry.

For example, silver atoms diffuse into the gold layer, causing a slow and gradual fading of color.  Eventually, this will cause tarnishing of the surface.  This process could take months and even years, depending on the thickness of the gold layer. A barrier metal layer is used to counter this effect. For example, copper also migrates into gold, however, does so more slowly than silver.  Likewise, copper is usually further plated with nickel.

 

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