De Beers has announced its LGD line Lightbox is lowering prices of its offering from the initial US$800/ct and US$1500/ct for high colors, and adds "batch grading" reports from GIA based on sample grading. New Lightbox pricing (up to -40% from previous pricing) is lower than most lab-grown retail prices, JCK reports.

• I-J color, VS, very good cut: US$500/ct
• G-H color, VS, very good cut: US$600/ct
• D-E-F color, VS, excellent cut: US$900/ct

_{Photo credit: Lightbox}

India's Gem and Jewellery Export Promotion Council (GJEPC) reports the overal exports of polished diamonds in FY2024 dropped 25.23% to nearly US$16bn from US$22bn in the previous financial year. GJEPC cites a slowdown in the US market due to high interest rates and slower than anticipated post-covid market conditions in China. LGD exports decreased 13.79% to US$1.4bn compared to US$1.6bn a year earlier. 

_{(photo Envato Elements)}

The Eternal Pink, mined by De Beers at the Damtshaa mine in Botswana is expected to fetch more than $35 million at the upcoming Sotheby’s HK auction, potentially breaking records as the most expensive price per carat ever to come to market. The estimated price per carat for The Eternal Pink is $3.3 million, giving it a chance to challenge the record set by The Williamson Pink Star, which was sold at Sotheby’s Hong Kong in 2022 for $5.2 million per carat. That gem was bought by a private collector based in the US for $57.7 million.

After a 3-year pause due to Covid-19, Israel International Diamond Week is finally back, launching its next edition from March 27 – 30, 2023. The event will feature a much-anticipated tender of polished goods held at the Israel Diamond Exchange’s International Tender Center. The tender will be conducted by Diagurus from March 26 – 30, 2023.

This year Lebanese Jeweler Fred Mouawad unveiled the newly crafted crown for the Miss Universe pageant following a 3-year partnership with The Miss Universe Organization.
Commenting on the relationship between the two entities, the jeweler stated, “the creative partnership draws on Mouawad’s strong heritage of designing jewellery for royalty and its reputation for crafting the extraordinary to craft exceptional, one-of-a-kind pieces befitting modern-day royalty.”

India’s Ministry of Finance has amended the ‘Exports by Post’ Regulations 2018 respectively for allowing postal authorities to set up, operate and maintain the PBE (Postal Bill of Export) Automated System for filing of electronic declaration for export of goods through Post.

The IDEX Polished Price Index reported a 2.62% decline in November, standing at 132.76 – “its biggest monthly drop since April of this year.”  According to the analysis, several factors are “dampening demand and squeezing prices” – uncertainties over the US economy, EU Recession fears for Q-4, the war in Ukraine and China’s Covid lockdowns along with the protests against them.

Sotheby’s got $12.4 million for the 303.1 ct. Golden Canary—the recut version of the Incomparable—making it the third most valuable yellow diamond ever sold at auction. The Golden Canary is a Fancy Deep Brownish Yellow color and is considered the largest internally flawless diamond in the world.
The story of the Golden Canary’s discovery is also quite captivating.

De Beers had two more strikeouts with its Exceptional Blue Collection recovered in Petra’s South African Cullinan mine, this last Dec. 7 - perhaps a harbinger of waning demand in the colored diamond auction market.

Philips has set the auction date of December 13, 2022, for the sale of lot-139, a Fancy pink diamond Boodles Necklace, among other pieces.
Set with an oval fancy intense pink diamond weighing 4.05 carats, the chain highlighted with collet-set brilliant-cut diamonds, mounted in platinum, length approximately 18 1/8 inches, signed Boodles, case stamped Boodles. The piece is accompanied by a certified GIA report (no. 2155635097), stating that the diamond is Fancy Intense Pink, Natural Color, with VS2 Clarity.

Christie’s is at it again, presenting one of the finest fancy vivid pink emerald-cut diamonds ever to be offered at auction as part of its Magnificent Jewels sale on 6th December, in New York.
The Fancy Vivid Pink Diamond Ring (estimate: $25,000,000-35,000,000) is set with a 13.15-carat VVS1 clarity, potentially internally flawless diamond.

After the recent record setting price breaker auction of the Williamson Pink Star, Sotheby’s now announces that they will soon auction eight blue diamonds sourced from the De Beers Group, with the De Beers Exceptional Blue collection expected to fetch more than $US85 million.

Since March 2022, both the polished diamond import and diamond retail market have taken a toll from a new wave of Covid-19 pandemic in China, as the local administrations nationwide have strengthened preventive and control measures.

Last week, Van Cleef & Arpels revealed its Legend of Diamonds, 25 Mystery Set jewels. The process took four years to complete, from the moment Antwerp based diamond companies and manufacturers Taché and Samir Gems bought the 910ct, type IIa Lesotho Legend discovered at the Lesotho Letšeng mine, in 2018 to the 67 diamonds that were cut by Antwerp’s high-tech diamond polishing company Diamcad, to the creation of a bespoke Mystery Set collection of 25 unique pieces incorporating the polished stones.

1,5 years after the closing of the famous Argyle mine in Western Australia, which produced the vast majority of the world’s fancy pink diamonds, Rio Tinto announces a partner program that will continue the legacy of the Argyle Pink Diamonds brand, releasing the names of the first two “Icon Partners”, John Calleija and Joh Glajz, both having worked with Argyle’s precious pink diamonds for decades.

Informa Markets announced the mother of all fairs, Hong Kong September, will temporarily be moved to Singapore, under the name JGW Singapore, taking place Sept 27-30 at Singapore Expo. The move, after two years of absence as international trade show, will allow foreign buyers and exhibitors to attend. 

Unconfirmed sources say India is planning to lower the much criticized import tax on polished diamonds and gemstones from 7,5% to 5%, as this was mentioned during the budget speech by India's Finance Minister. 

To give a boost to the gems and jewellery sector, customs duty on cut and polished diamonds and gemstones has been reduced to 5 percent. "Simply sawn diamond would attract nil customs duty. To facilitate export of jewellery through e-commerce, a simplified regulatory framework shall be implemented by June this year," the finance minister said, according to Moneycontrol.