April 2005 Archives
Diamonds & Precious Metals Week In Review: 4/1/05
U.S. markets are soft with weaker consumer confidence and declining stock markets. Oil prices increasing with one industry analyst predicting $105.00 barrel oil by the end of this year!
Diamond dealers are pushing up the prices of large expensive polished stones due to shortages and very expensive diamond rough. Weak dollar encouraging foreign demand and high hopes for Basel show (March 31-April 7.) Diamond Rough markets still commanding inflated prices with profit margins for dealers very thin.
Fancy shape diamond demand is strong with firmer prices driven by scarcity of goods and the higher prices for rounds. Very good Far East demand for larger stones (4ct+). Inflated rough prices still squeezing manufacturer's margins. Strong demand for pears and ovals, well shaped stones are scarce and bringing strong premiums.
Heart shapes surprisingly strong with prices firming. Princess and radiants moving well, especially in 1.25-3ct, G+, SI+. Emeralds strong in 2ct. and larger. Asscher cuts very strong across the board. Scarcity of well cut marquises but demand for them is weak at this time.
Gold at $427.30 and Platinum at $866.00 holding steady and building a strong base.
Diamonds Power New Bionic Eye: The Sightless Will See.
A bionic eye that allows blind people to see has now got a protective coat of diamond that should significantly improve its performance.
The silicon chip retinal implant is being developed by Second Sight, a company based in Sylmar, California, along with a consortium of university researchers. The device needs a hermetic case to prevent it from reacting with fluids in the eye.
Retinal implants coated with Diamonds could give sight back to people blinded by disease.
Researchers have developed an ultrananocrystalline diamond (UNCD) film that is guaranteed to be safe, long-lasting, electrically insulating and extremely tough. The coating can also be applied at low temperatures that do not melt the chip's microscopic circuits.
The UNCD film is the first coating to meet all the necessary criteria for the implant, says Xingcheng Xiao, a materials reseach scientist who developed the film.
The tiny diamond grains that make up the film are about 5 millionths of a millimetre across. They grow from a mixture of methane, argon and hydrogen passing over the surface of the five-millimetre-square chip at about 400 °C. Xiao and his colleagues have already tested the implants in rabbits' eyes, and saw no adverse reaction after six months. He will present the results on 1 April at the Materials Research Society meeting in San Francisco, California.
The full article is here:
Diamond Retail Sales Grow 8% in 2004.
For the ninth consecutive year, the retail diamond jewelry market grew in the United States, with an increase of 8.2 percent in 2004. Total diamond jewelry sales --half of the world's sales are in the U.S.-- was $31.5 billion, up $2.4 billion from 2003. Transactions grew by 4 percent and the average ticket price reflected a 4 percent growth as well.
Three-stone diamond jewelry, the “new classic,” continues to drive sales growth for the diamond jewelry market. In addition, by launching the “I Forever Do” anniversary campaign, the Diamond Trading Company will continue to grow the three-stone market by re-presenting a fresh occasion, the anniversary, for which three-stone jewelry is an appropriate gift. The three-stone category, which is any piece of diamond jewelry that consists of three diamonds, is now valued at $3.1 billion. During the past five years, three-stone diamond jewelry sales growth has risen almost 35 percent.
In 2004, diamond engagement rings reached their highest average price at $2,600, a year when 82 percent of U.S. brides felt that a diamond engagement ring was the only way to celebrate this momentous occasion. The total retail value for the diamond engagement ring category is $4.5 billion, which is a growth of 5 percent ahead of 2003.
The Diamond Right Hand Ring is another area that has seen tremendous growth. In 2004, the Diamond Right Hand Ring drove the $3.8 billion non-bridal fashion diamond ring category from an under performing section of the market into one that grew by 15 percent. This can be attributed to the success of the marketing campaign that resonates with women who believe in “The Left Hand Is For We, The Right Hand Is For Me!” In addition, research has shown that 39 percent of women are aware of the right hand ring; a 14 percent increase from the previous year. Of those 39 percent, one third of those women desire to purchase or receive a Right Hand Ring, and another one-third are considering a diamond ring of some kind.
Diamond Stars are Back. Play Ball!
"The Boys of Summer" are back.
To quote Ernie Banks: "We got sunshine, fresh air, and green grass; so let's play two!!
Jewelry a No-No for Race Car Drivers.
Auto-racers for the Fédération Internationale de l'Automobile (FIA) were banned from wearing jewelry while driving, the organization's governing body said. Diamond earrings or piercings, gold chains and hoops were no longer permitted, as ratified by the world motor sport council summit in Paris.
The ban was proposed by the FIA's medical commission, and would apply to world rally and other pilots. Several pilots interviewed by sports media wear "an earring," or sentimental, good-for-luck amulets. The order was made for safety reasons as metal can cause burns in the event of fire the council said.
It was not clear if the ban applies to wristwatches, which if the driver wins could be seen by millions of television viewers on a driver's left wrist, providing advertising space and revenue for the bearer.
Hearts and Arrows Diamond Pen
I just saw a really neat new product featuring a hearts and arrows diamond, in one of the industry magazines.
This is the "Diamond Pen" By Lumiere.
Le Lumiere™ Ltd. has conceptualized a stunning new design
for a writing instrument.
Le Lumiere™ Patented Diamond Pen, first of its kind in the world,
features a 0.10 carat hearts & arrows and up to 1ct diamond
mounted with 18K White Gold crown. Viewed by the built-in mini loupe viewerwith lens embedded in the barrel one can see the beauty of the diamond from within.
Pretty cool!
These Gas Prices Are Absurd!
What is going on with these astronomical gas prices???
It has become cheaper to buy a certified loose diamond then a gallon of gas these days!!!
I found a few illustrations that pretty much sums up the gas situation these past few years!
Diamonds Have Fingerprints!!
Did you know that just like our fingerprints are completely unique and no two are alike; the same is true with loose diamonds.
Same Idea
.....That's right!
Every single loose diamond, when it is plucked out from way beneath the surface of the earth it possesses its own unique set of internal characteristics or "fingerprints" which makes it completely unique from any other diamond.
These characteristics take the form of internal pinpoints and markings within the grain of the diamond carbon. These markings can only be detected by laser and cannot be seen even under very high magnification. They do not factor in to the clarity grade given to the diamond by the diamond grading laboratory.
As the diamond technology continues to evolve in our industry, there are scientific companies putting out all kinds of precision machinery to measure and quantify a loose diamonds cut precision and optical brilliance. One company has put out a machine that captures the internal fingerprint of every diamond. This company based out of Toronto, Canada, is called Gemprint.
They have created a machine that captures every diamonds unique fingerprint pattern by shooting a high intensity laser beam into the stone. The individual diamond pattern is sent via modem to their headquarters and reviewed. It is then validated by them and printed on official company stationary with proper attribution given to the rightful owner. This information is registered with all of The law inforcement agencies worldwide. The procedure itself is completely non-invasive and has proven to be very effective as a means of protecting the consumer in theft recovery and "diamond switching" . As a matter of fact, consumers possessing a Gemprint of their diamond are eligible for a 10% reduction on their insurance premiums from many of the major insuarnce companies!
Unlike a diamond laser inscription done on the diamonds girdle; a Gemprint cannot be removed without cutting away 25% of the diamond! This makes it very difficult and impractical for a thief to alter the diamond in any way in an attempt to remove a diamonds fingerprint (assuming that he knows the stone has been Gemprinted.)
We have this technology in house and offer a diamond Gemprint to our customers as part of our service package.
For more information on this technology, please visit www.gemprint.com
Diamonds & Jewelry Week In Review: 4/8/05
U.S. trading are markets steady with stronger demand for better quality larger 1.50 to 3 carat diamonds. The Diamond Information Center puts U.S. 2004 retail diamond sales up 8.2% to $31.5 billion.
Gold and Platinum holding steady at $427.15 and $862.00, respectively.
Gold Production Down in South Africa.
South Africa’s gold production fell by 8.8 percent to 342.7 tons in 2004, the lowest level of gold production since 1931 according to the Chamber of Mines of South Africa.
The drop in production was in part caused by the falling dollar (against South Africa’s rand,) and by the continued rise in mining costs, which are paid in rand, and to aging mines.
Despite the spot gold price rising 12.6 percent to $409 per ounce in 2004, the 14.7 percent appreciation of the rand boosted the currency ahead of rising gold prices as they fell by 3.8 percent. The rand gold price had already fallen a notable 15.8 percent in 2003 compared with 2002.
Further complicating gold mining was an 18 percent increase in water fees, a 30 percent higher cost of steel used at the mines, and freight tariffs rose 51 percent from 2002.
Reduced Gold production should put upward pressure on prices as demand is increasing. Current Gold price is $429.55, having hit a high earlier this year 0f $441.00. The weak dollar and rising oil prices will continue to bolster Gold and serve to increase prices.
Diamond Prices Going Up-Again!
So what else is new?
De Beers is considering an increase in its rough diamond prices in the course of this year.
The Sunday Times in South Africa quoted De Beers managing director, Gary Ralfe, as saying that the scope for an increase in rough prices existed as there was no large increase in diamond supply at the global level.
To meet anticipated growth in demand for diamonds, De Beers needed to produce more carats and this would be the focus of its strategy for the upcoming five years.
Bet on several increases this year, folks, and corresponding increases in the cost of polished diamonds.
50 Carat D Flawless Diamond Sold at 4 Million!
A standing room only crowd at Christie’s New York sale of Magnificent Jewels was hushed as dueling bidders vied for a 50.01 D flawless diamond ring.
This 50 carat D Flawless could have been yours for 4 mil!!
The rectangular-cut prize by Graff was the top lot of the evening selling for $4,216,000 (all prices include buyers premium.) It was bought back by Graff the London-based retailer who over the years has offered some of the world’s most important diamonds for sale. He declared the gem “a masterpiece.” The sale total of — $31,747,840 — was the highest seen over the past few years at a New York auction.
Also boosting the bottom line was the sale of an 8.01 carat oval-cut Burmese ruby, which sold to an Asian Private after heated bidding on the phones for $2,200,000, setting a world auction record price for a ruby of $274,656 per carat.
Burmese Ruby for 2.2 million! And you thought filling up your gas tank was expensive!
Buyers participated from around the globe with private collectors bidding aggressively on signed jewels, sending prices into the stratosphere.
Diamond prices were strong with several D Flawless stones moving briskly, contrary to the trend of the past few years when those gems sat untouched. Colored gemstones — also traditionally slow movers at auction — were the focus of intense bidding during the sale.
While privates were in the thick of the bidding action, this was the first sale in some time that saw the trade dominating the top ten lots; only three of the 10 sold to privates. The sale’s success was fueled by the soft dollar, a strong selection of signed jewels and diamonds that were consigned at reasonable prices.
Diamond Auction At Sotheby's Is Strong.
Diamonds moved briskly and with very strong prices at Sotheby’s New York spring sale of Magnificent Jewels. The trade and privates snatched up the gems as fast as they came on the block.
Items Auctioned yesterday at Sotheby's.
The sale totaled $13,337,300 against a presale estimate of $12,836,400. A 3.12-carat fancy intense blue diamond was the top lot selling to an anonymous member of the international trade for $956,800 against an estimate of $450,000 to $550,000. Several dealers mentioned that while the pear-shaped stone is beautiful as is, there is potential to recut it and improve the color.
The highly touted .90-point round fancy intense green diamond sold for $296,000 to an Asian private. Most of the action at this sale took place over the phone. Bidding — which came from around the world — was light and buyers won the goods quickly.
Rounding out the sale was a healthy selection of signed and period jewelry with David Webb pieces making a strong showing. Sapphires were also of great interest bringing top prices for exceptional material.
Diamond and Precious metals Week In Review: 4/15/05
U.S. markets steady with dealer and Retailer demand for scarce better quality 1.25 carat and larger sizes. Christie's NY sales total $32 million; 88% sold by lot, 93% sold by value. Sotheby's NY sales total $13 million; 83% sold by lot, 90% sold by value.
Gold and Platinum prices holding steady at $424.00 and $866.00 respectively.
Diamond Engagement Proposals May Require a Pre-Nup-Nup!
Hey guys! Wanna get engaged? Wanna make sure she says YES!!
Before you speak to her Pop and get down on bended knee, you may want to get it in Writing.
That's because a jilted lover wants back the engagement ring that he gave his fiancée? William Christopher Thompson filed in Santa Fe County court (New Mexico) to do just that. Thompson served his bride-to-be, Rodina Lucero, a chocolate cake with the ring embedded.
Lucero accepted at first, which according to court papers was the second time, but the following day she broke-off the engagement and refused to return the 18-karat gold 1.5 carat Marquise diamond ring.
Thompson's attorney, Ernest L. Padilla, wrote that Lucero accepted the engagement ring under false pretenses in an effort to defraud Thompson of the ring. Padilla argues that the ring was a conditional gift and in order to keep the ring Lucero must marry first.
Thompson is asking the court to award him the return of the ring or ask Lucero for the ring's fair market value.
He's from Mars; she's from Venus. Or is it the other way around?
"Extremely Thin" Girdles In Princess Cuts: Cause for Concern?
Current conventional wisdom and advice to consumers is to stay away from diamonds that display 'extremely thin' (ET) girdles. The rationale is that such girdles may be more susceptible to chipping or breaking compared to girdles that are classified as 'slightly thin' and greater.
In our opinion, this needs to be placed in proper context. ET girdles need to be seen and evaluated within the total view of the diamond's entire girdle. In many cases an ET still will have enough bandwidth so as to not pose any danger to the diamonds structure or foundation. Furthermore a designation of ET may only refer to one or two spots along the girdle's continuum and such designation applied only in reference to the girdle width of the rest of the diamond.
Attached is an example of a Princess Cut that GIA has evaluated as having an ET girdle. Note that this girdle side still has sufficient "meat" on it so that it poses no danger to the stone; but in relation to the adjacent very thick girdle it can be classified as an ET girdle.
Our advice is to work with vendors that either have the diamond in stock or can call it in for a personal evaluation.
Henry Grossbard
Master diamond cutter Henry Grossbard, innovator of the Radiant Cut, died after being struck by a hit-and-run driver in Hoboken, New Jersey, on April 23 around 10:30 p.m.
The 79-year-old Grossbard was strolling with his family dog in the suburb of New York City at the time of the accident. Hoboken police Sergeant Costello told Rapaport News that there were a couple of eye witnesses, but the agency continues to seek more information. Grossbard was struck at 3rd Street and Sinatra Drive by what is believed to be a late-model Honda Odyssey. The mini-van is light color, perhaps silver or light green, and is likely to have front-end damage and perhaps a broken windshield Costello said.
"Whoever did this and left the scene, the fact that it is a mini-van leads us to believe" the automobile is used for transporting children to school or general household shopping chores, Costello said. Anyone with information should contact the Hoboken police detective bureau at 201.420.2110.
Grossbard was known worldwide for the Radiant Cut, and he received worldwide patents for the Radiant Cut design in 1977, among the first patents ever granted for a diamond cut.
New!! Custom Modified X Prong Channel Diamond Setting By Vatche
This magnificent diamond ring by Vatche is actually a custom made piece (or in the case of a Vatche ring, a "Custom - Custom piece"...)that we had Vatche make for a recent customer of ours.
The ring is a combination of two of the hottest Vatche Engagement Rings; the X Prong, and Royal Crown Settings. This ring features the unique and beautiful X prong (Lucida Style) basket, and the distincly tapered shank (ring portion) of the equally famous Royal Crown ring. The result is a gorgeous ring of tremendous elegance and beauty. The addition of quality channel set round diamonds (supplied by Vatche)in a Platinum setting completes the look!!!
In case you are wondering...the center diamond in this ring is a 1.11 H VS2 SuperbCert Signature Diamond!!
I think the beauty of this ring is that many people have shown a preference for the tapered shank of the Royal Crown but still prefer the distinctive look of the X Prong basket. Here, you have the ability to mix and match to suit your own taste!
We will be putting this ring up for sale on our website shortly!
Diamond and Jewelry Week In Review: 4/29/05
U.S. retail demand improves for 2ct+,SI1+. Dealer prices firm but activity is slow due to Passover holiday. U.S. consumer confidence declined 5% in April and long-term outlook index fell to lowest level in 22 months.
Gold strong at $435.45. Platinum strong at $873.00.
Analysts predict further rises in the Gold price as the dollar remains weak.
