Diamond – Rapaport reported that yesterday the Pink Star, a 59.6-carat, internally flawless fancy vivid pink diamond, sold for $83,187,381, or $1,395,761 per carat, at Sotheby's Geneva-based Magnificent Jewels sale. That is new record for any diamond or jewel.
Articles Tagged "Diamond Market News"
Diamond – Forbes reported that the fancy vivid Pink Star diamond, a 59.6-carat stone, is set to be auctioned today at Sotheby's Magnificent Jewels sale in Geneva. Valued at over $60 million, it is the most expensive diamond ever to be offered at auction, according to Sotheby's.
Diamond – The Times of India reported that there has been a 20-percent drop in demand for diamonds this Diwali, with jewelers across India reporting drops of over 50 percent in demand for diamond jewelry.
Diamond – Rapaport reported that the top lot at Christie's Geneva autumn sale of magnificent jewels was the Orange, a VS1, fancy vivid orange, pear-shaped diamond. Beating its presale estimate of $17,414,966 to $20,680,273, it sold for $35,540,611, or $2,398,151 per carat.
Diamond – Rapaport reported that prices for certified polished diamonds sank 1.7 percent in October because trading volume did not meet expectations for this time of year. Retailers in the United States have been delaying holiday inventory purchases in part due to price uncertainty, while pre-Diwali demand in India was weak.
Diamond – In its weekly report, Rapaport described the news that India is thinking of raising its import duty on polished diamonds from 2 to 5 percent as a "stunning development," noting that doing so would be "shortsighted and damaging to the trade."
Diamond – Business Standard reported that according to a new survey, rising gold prices are causing Indians to instead buy white gold, diamond and platinum jewelry as Dhanteras approaches.
Diamond – In its weekly report, Rapaport reported that worries are increasing that synthetic diamonds, grown in labs, are entering the market mixed into packages of natural diamonds. For its part, the company recommends that industry participants insist on transparency based on sufficient detection, disclosure and documentation of synthetic diamonds.
Diamond – Rapaport reported that in August, the United States' polished diamond imports rose 29.9 percent from the previous year, to $1.667 billion. However, the value of polished exports came in at $1.695 billion, a 32.6-percent increase from 2012. As a result, the country saw an import deficit of $28 million for that month.
Diamond – In an interview with Kitco News, Paul Zimnisky, CEO of PureFunds, said that he doesn't see physically backed diamond investment vehicles becoming a reality any time in the near future. The main reason behind his thinking is that "diamonds lack fungibility."