IdexOnline 279

Retail
Tiffany: To Open First Fully-

Owned Store In Russia
Richline: Buying US
Freshwater Cultured Pearl
Brand Honora
Tara Jewellers: Launches
Six New Stores
Polished
Surat Rough Buyers
Group: In Sell-Off Talks
GIA: Donna Baker Resigns
Due To Differing Views On
Direction
Alrosa: Commits To Holding
Tenders In New York
Mining
Zambia: Forbids Gemfelds
From Selling Gemstones Abroad
Gem Diamonds: Sells
164-carat Diamond
for $9 Million
Lucara: Has Exceptional Start
To 2013
Many
shades
of gRay:
Why Gray Gets Such A Bad
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Diamond Prices
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ID&JG_ad_IDEX_210x270mm-Unique_1322 2 16-12-11 12:41
I DEX MAGAZI NE No. 279
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21
contents: focus
92 carbon copy: Lab-Grown
DiamonDs
Lab-grown, lab-created, man-made, synthetic. The debate over
the nomenclature of non-mined diamonds is still ongoing.
But its not necessarily the name, but rather the diamonds
themselves that are the issue. They are seen as a threat, a
danger and a menace to the industry. Read on to fnd out more.
94 royaL rebeL
Royal Asscher, the Dutch diamond manufacturer is one of the
most traditional of companies in the diamond industry. With
a history stretching back 159 years, it may come as a surprise
that this iconic brand sees lab-grown diamonds not as a threat
but as a very real alternative.
98 its eLementary
Think of De Beers and you usually think of tens of millions of
carats of mined diamonds. Think of De Beers again, however,
and you come up with something very different not to say
unexpected synthetic diamonds. Albert Robinson reveals all.
104 are Lab-maDe DiamonDs GooD
for the environment?
IIa Technologies Pte, Ltd. claims that its lab-made diamonds
represent a signifcant environment advantage over mined
diamonds in terms of energy, pollution and the environment.
While the jury is still out, its clear that lab-made diamonds are
becoming increasingly sophisticated.
110 synthetics pose threat to
consumer confiDence
If theres one thing the industry is working to maintain, its
consumer confdence, which is why the issue of synthetic
diamonds entering the supply pipeline is so critical to prevent.
Albert Robinson explains all.
114 the Detectives
One of the major stories of last year was the tale of the 600
or so undisclosed lab-made diamonds that were submitted to
the International Gemological Institute in Antwerp for grading.
Read on to fnd out how the industry is responding to the
threat of undisclosed synthetics in the pipeline.
M A N - M A D E D I A M O N D S B Y R O Y A L A S S C H E R
94
ROyAL ReBeL
98
ITs eLemenTARy
114
The DeTecTIves
22
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contents
49
39
60
88 128
27 Letter from the eDitor
by Danielle max
30 market snapshot
A quick glance at the events of the past month
35 memo
39 retaiL et cetera
39 weve Got our eye onthe time!
48 the porte point of view:
49 show report
by edahn Golan
52 JeweLry suppLy chain revoLution
by Tim Jackson
56 thinkinG Luxury in the
emerGinG markets
by Rebecca F.A. smith
60 retaiL bytes
66 facets
71 poLisheD
77 GemewizarD: many shaDes of Gray
80 coLoreD DiamonDs: exceptionaL
investment potentiaL
by Benji margolese
the iDex DiamonD report
84 poLisheD DiamonD prices
88 how to avoiD DamaGe to Gemstones
(part iii)
by claudio Russo
121 the mystique of aLrosa
by edahn Golan
124 mininG news
128 profiLe
casimir Graf maltzan, cPO, yorx AGs
130 aDvertisers List
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j uly 2013
VOl. 29 No. 279
EDITORIAL DEPARTMENT
EDITOR-IN-CHIEF Danielle Max
IDEX ONLINE EDITOR-IN-CHIEF Albert Robinson
IDEX ONLINE RESEARCH Ken Gassman
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27
laboratory
matters
Danielle Max
he issue of laboratory-grown
diamonds is one that has concerned
the industry for the past few years. Last
year, the issue came to a head with the
discovery that a parcel of hundreds
of undisclosed CVD (Chemical Vapor
Deposition) stones had been submitted to IGI in
Antwerp, while another, albeit much smaller, group of
CVD diamonds surfaced at the Gemological Institute
of Americas Hong Kong lab.
Tere is no doubt that passing of laboratory-grown
diamonds as naturally mined stones is unacceptable
and dishonest. Tere is nothing worse for consumer
confdence than the thought that the diamond a
customer believed to have originated from a mine
in Canada, Africa or Australia was actually grown in
a factory.
However, perhaps the industry is being too quick to
close the door on laboratory-grown diamonds. If a stone
is grown in a factory, there must be full transparency
from the moment of creation of the diamond all the
way down to the retailer and the consumer.
Diamonds that are large enough must be inscribed
with the words lab-made or other accepted
nomenclature, or perhaps a symbol should be
devised to denote their non-mined origin. This
provenance must also be clearly stated on the
grading certificate to make sure there is no
confusion. The issue of diamonds too small to be
graded is more problematic, but a way also needs
to be found to identify these goods and to prevent
them from entering the regular supply chain
pipeline as naturally mined stones.
Once this is done, there seems to be very little reason
not to embrace laboratory-grown diamonds as a
viable alternative to naturally mined diamonds.
From the perspective of the manufacturer, the
retailer and most importantly the customer, this
product is cheaper (although not cheap) and more
accessible than mined diamonds.
As manufacturing technology develops, it is also
possible to create bigger and more colorful diamonds
than are found in nature.
For years, Ive followed the Rio Tinto Argyle Pink
Diamonds Tender and Ive been lucky enough to
examine the diamonds up close twice, but Ive never,
ever entertained the possibility that I might own one
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Why should diamonds be reserved

for luxury and special occasions?
Diamond jewelry should be
competing in the gift-giving
categories for graduation, Mothers
Day, Valentines Day and so on.
Laboratory-grown diamonds would
be one way to take diamonds out of
the luxury category and, in a sense,
level the playing feld.
28
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editor
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of these diamonds. With a starting price of around
$100,000 a carat, it is simply a dream. But now
companies are able to produce pink, blue, orange
and even green diamonds using technology and
the latest developments in manufacturing. So why
shouldnt I aspire to one of those pieces instead?
Of course, diamonds are a luxury product and
fancy colored ones are more luxurious than others,
but why not make them all more accessible and
afordable? Perhaps this is one of the things wrong
with the industry. Why should diamonds be reserved
for luxury and special occasions? Diamond jewelry
should be competing in the gift-giving categories for
graduation, Mothers Day, Valentines Day and so on.
Perhaps it is time to stop fearing
laboratory-grown diamonds and to
start seeing their potential.
Laboratory-grown diamonds would be one way to
take diamonds out of the luxury category and, in a
sense, level the playing feld.
It is fne to position laboratory-grown diamonds
separately from mined diamonds, but the two can
coexist. With the dearth of new diamond prospects
on the horizon, it could well be that mined diamonds
move out of the reaches of all but the super-rich.
It seems to me, that there is room for the two types of
diamonds in the supply chain. For those who like the
beauty and majesty of diamonds, but do not currently
buy mined goods, there is now an alternative. Tere
is now a cheaper alternative for designers looking to
break into the industry who can now spend less on
sourcing raw materials. Tere is now an alternative
for companies who are worried about losing their
source of goods. Tere are now plenty of alternatives
for new companies and businesses to ofer to keep
people interested in jewelry rather than losing them
to the other luxury items that the industry is fghting
to compete with.
Perhaps it is time to stop fearing laboratory-grown
diamonds and to start seeing their potential. IDeX
Diamond Tower, Suite 470-472 (4th foor) P.O.Box 536, 54 Bezalel St. Ramat Gan 52521 Israel Tel: 972-3-7522200 Fax: 972-3-7522204
Emai l :moi sh@dds-di amonds.com www.dds-diamonds.com HK: 852-5195-9141 Toll free U.S.A: 1-866-6795361
30
|
market
snapshot
by Albert robinson
the month in review
US consumers continue to beneft from jewelry prices that are pretty much standing
still, largely as a result of the slowdown in silver, gold and platinum prices.
Diamond prices are also showing little movement in either direction. Although the US
market appears to be on an upward trend, as further confrmed by the JCK Show Las
Vegas in early June, there has not been a rise across the board. buyers focused on
traditional American goods round-shape diamonds in HIJ colors and VS-SI clarities in
0.5 carats 2 carats.
JEWELRY
Jewelry and watch sales in the United States are
on fre, jumping by more than 8 percent in March.
Specialty jewelers are doing particularly well as
they are benefting most from the robust growth in
demand, having experienced a sales increase of close
to 10 percent year-over-year.
American consumers are increasing their spending
on jewelry and watches and allowing themselves to
put more of their discretionary cash into baubles. Tis
trend is all the more interesting because the rise in
jewelry sales is higher than that for retail sales overall.
Total US retail sales (excluding autos) is growing at a
much more sedate pace up just 1 percent year-over-
year during March.
Financial results from the large American jewelry
retailers, and more widely from luxury goods giant
Richemont, confrm that consumers in America and
elsewhere across the globe have taken to jewelry
buying with renewed vigor.
PERFORMANCE
+8.2%
Since November 2012, total jewelry
sales have grown by more than
8 percent a month, apart from a
6.8-percent dip in February. Te
February 2013 fgures compare
with a leap in sales in February
2012, when retailers posted an
11.8-percent gain.
+9.9%
For the sixth consecutive month,
growth in watch sales in the US
outpaced growth in jewelry sales.
Watch sales have held above $10
Source: IDEX Online Research
350
300
250
200
150
100
2012 2011 2010 2013
Gold
Silver
Platinum
Diamonds
J M A A M J J S O N D J F M J F M A A M J S O N D J F A A M J J S O N D
Index of Diamond & Precious Metals Prices
May 2010May 2013 by month
150
140
130
120
110
2012 2011
2013
IDEX Online Polished Diamond Price Index
PEAK
July 2011
146.7
May 2013
133.3
2011 Avg
135.8
2013 Avg to date
133.5
2012 Avg
136.8
|
31
14000
13000
12000
11000
10000
Jewelry Share Index U.S.
May 09, 2012May 07, 2013 by month
Blue Nile [NILE], Charles & Colvard [CTHR], Movado Group [MOV], Signet Jewelers Limited
[SIG], Tiffany & Co. [TIF], Zale Corporation [ZLC]
12000
11000
13000
14000
Jewelry Share Index Europe
May 09, 2012May 07, 2013 by month
Bulgari [BUL], Damiani [DMN], LVMH [LVMH], PPR [PP], Richemont SA [CFR], Theo Fennell [TFL]
12000
13000
11000
10000
9000
Jewelry Share Index India
May 09, 2012May 07, 2013 by month
Classic Diamond [BOM:523200], Gitanjali Gems [BOM:532715], Goldiam International
[BOM:526729], Rajesh Exports [BOM:531500], Su-Raj Diamonds [BOM:507892],
Suashish Diamonds [BOM:526733]
8500
9500
10000
9000
8000
Mining Share Index
May 09, 2012May 07, 2013 by month
African Diamonds, Anglo American [LON:AAL], BHP Billiton [NYSE:BHP], Firestone Diamonds
[LON:FDI], Gem Diamonds [LON:GEMD], Harry Winston [NYSE:HWD], Petra Diamonds
[LON:PDL], Rio Tinto plc [NYSE:RIO], Rockwell Diamonds [TSE:RDI]
+3038.22 (30.38%)
+1453.56 (+14.54%)
+1381.95 (+16.58%)
-2085.4 (-20.85%)
2012 2013
A S O N D M M J J F A J J
2012 2013
2012 2013
2012 2013
8000
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MARkEt sNAPshOt
|
million for three consecutive months for
the frst time in US history. Jewelry sales
were above $65 million monthly in the
frst quarter, also a record level.
OUtLOOk
In light of the growth rate in watch and
jewelry sales in the US compared to total
retail sales, American consumers are
clearly showing a preference for assets
that have longevity, rather than for typical
durable goods, such as cars or electronics.
Tis preference is even more outstanding
when compared to consumables.
Tis six-month trend is a promising one,
yet it should be viewed as a temporary
economic behavior. For now, however,
we expect this trend to continue into the
summer months.
POLIshED PRICEs
Prices of polished diamonds moved up
slightly in May, according to the IDEX
Online Polished Diamond Index. Te
Index averaged 133.3 during the month, a
0.2 percent month-over-month increase.
Te Index started the month at 133.3 and
closed at 133.7, while drifting to 132.9 in
mid-May.
High inventory levels in the trading
centers which tend to result in
declining prices and anticipation of
good demand at the JCK Las Vegas Show
which pushed prices up balanced
wholesalers asking prices. Demand
met expectations and buyers largely
accepted wholesalers prices.
WINNERs AND LOsERs
Te price index of almost all key sizes of
round-shape diamonds declined during
May on a year-over-year basis, apart
from 4-carat rounds, which increased
2.2 percent compared to May 2012.
Te remaining key sizes declined by
4.5 percent-15 percent year-over-year,
which has been a yearlong trend.
32
|
On a month-over-month basis, the Index for round
goods showed mixed activity, and the weighted average
for rounds showed a small increase of 0.2 percent.
Rounds weighing 1 carat, 1.5 carats and 5 carats
increased in price, while 0.5-carat, 2-carat, 3-carat and
4-carat rounds declined compared to April.
For the second month in a row, the price index of
princess-shape diamonds declined month-over-
month, further signaling that the long run of price
increases is abating. Nevertheless, on a year-over-
year basis, key-size princesses increased by a large
single-digit.
Compared to April of this year, the Index for 1-carat
and 1.5-carat princess-shape diamonds declined,
while prices of 2-carat princesses continue to rise.
OUtLOOk
After months of forecasting a short-term lackluster
market, we are upgrading that forecast to a cautiously
optimistic one, expecting an improvement in prices
of polished diamonds in the second half of 2013.
US retailers enjoyed a good run in the frst quarter of
2013, and in response increased their jewelry orders
and loose diamond purchases at JCK. Coupled with De
Beers research, which found that stock levels among
US retailers are low, and the recent decrease in the price
of gold, there is an expectation for polished diamond
price increases.
In the long term, we remain confident that polished
diamond prices will increase when consumer
demand grows as confidence in the economy returns.
A recent OECD report projects an increase in real
GDP for the worlds leading economies in 2014, thus,
increasing our confidence in growing demand for
diamond jewelry.
ROUGh DIAMONDs
Rough trading remains slow, but steady, with
manufacturers continuing to purchase only the exact
goods they need for their factories. Demand remains
highly specifc with certain goods attracting demand. In
the US, 0.5-carat-2-carat rounds in the mid-color range
of VS-SI clarity were in demand,
and larger stones of 7 carats were
also hot at JCK Las Vegas.
OUR OUtLOOk
Overall, there does not appear
to be enough consumer demand
to pull rough prices up across
the board. Consequently,
rough prices are projected to
largely stand still in the coming
month, particularly due to the
slower trading typical in the
summer months.
Theres no point in buying things just to have
more diamonds. If its not going to deliver
proftability, then Im quite happy to stay where
we are.
Dominion Diamond Corp CEO Robert Gannicott
appearing to rule out the likelihood of his
company acquiring Rio Tintos 60-percent
stake in the Diavik mine
Radio-Frequency Identifcation (RFID): The use of
tiny wireless chips for the transfer of data to enable
tracking of stock over relatively short distances. Unlike
a barcode, the chip does not need to be within a line
of sight of the reading device and can be embedded
in the object being monitored.
RFID is gaining increasing popularity in the diamond
and jewelry industry as a means of more speedily
and effciently tracking items and for stock-taking.
350
300
250
200
150
100
2012 2011 2010 2013
Gold
Silver
Platinum
Diamonds
J M A A M J J S O N D J F M J F M A A M J S O N D J F A A M J J S O N D
Index of Diamond & Precious Metals Prices
April 2010April 2013 by month
150
140
130
120
110
2012 2011
2013
IDEX Online Polished Diamond Price Index
PEAK
July 2011
146.7
April 2013
133.1
2011 Avg
135.8
2013 Avg to date
133.5
2012 Avg
136.8
qUOtE WORth kNOWING
|
MARkEt sNAPshOt
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33
Project Aurora This is the codename reportedly given by Rio Tinto to plans to spin off its diamond division on
the London Stock Exchange this year, according to Sky News. The fotation plan is increasingly likely since the
frm has been unable to identify a buyer willing to meet its asking price. The listing of the diamond unit could
take place as soon as the fall, and may involve raising around $400 million by selling new shares in the business.
However, the report said the plan would be left on the shelf if Rio Tinto were to receive a suffciently high offer
from a bidder.
Rios diamond unit has been on the block for the past year, with analysts valuing its worth at as much as $5 billion.
LINGO
PhOtO OF thE MONth
Standing Room Only
In case anyone was wondering, it seems that collectors and investors around the world still have a little
money to spread around. A D-color IF diamond briolette weighing 75.36 carats was bought for a world record
$11,151,245, or $148,000 per carat, at Christies Hong Kong Sale of Magnifcent Jewels on May 28. And the
price showed that Christies evaluators had done their homework since the price came in towards the top of
the pre-sale estimate of $8.5 million-$12.5 million. The diamond was later named the Star of China by its
lucky new owner, Tiffany Chen, the vice chairman of China Star Entertainment Limited.
I
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35
seven-hour fight from Moscow to the
small town of Mirny, followed by another
two-hour helicopter ride, brought me to
one of the most remote regions on earth:
Alrosas Nyurba mine in the Republic
of Yakutia, where many of the worlds diamonds are
mined. Alrosas most prolifc mine it produced 7.3
million carats of diamonds in 2012 its production is
limited only by the capacity of its separation plant.
Walking through this massive plant, which digests 1.7
million tons of ore a year from the open pit diamond
mine, working 24 hours a day, seven days a week, brings
you closer to the efort needed to make Alrosa the
largest diamond producer by volume in the world. In
Yakutia, 34 million carats of stones are mined annually.
However, it was back in Mirny, some 600 meters
underground, at the Alrosa International underground
mine where I felt that I was truly in the heart of the
beast. Standing next to the electric roadheader mining
machine as it ground the diamond-bearing kimberlite
mine wall was as far from the romantic and glamorous
aura of polished diamonds as this frozen harsh
environment of Siberia is from 5th Avenue.
Te strict safety procedures, the darkness, heavy air and
bleak setting of the mine are far removed from the high-
end perception of diamond jewelry. Tis is the future
of many of Alrosas diamond mines. Te company is
extending their life by going underground, while also
maintaining efciency, measured as net proft versus
operational expenses, according to Alrosa frst vice
president executive director Igor Sobolev.
Alrosa sits on a massive 1.154 billion-carat proven
reserve in Russia. Although it expects annual
production from its mines in Yakutia to decline to 24
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From Russia With...
by Edahn Golan
million carats by 2035, production from Severalmaz
in North Russia is expected to rise from the current
500,000-carat annual production to 10 million carats in
2035, ofsetting this decline.
On the eve of its IPO, planned for October this year, the
company is moving forward with an aggressive plan
to rid itself of its non-core businesses. According to
Sobolev, this includes selling its hydropower station,
gas, oil and agricultural companies. A few other assets
have already been sold, including the Timir iron ore
operation and its small chain of hotels, which was
bought recently by a company from St Petersburg.
Alrosa has an aggressive plan to be the worlds largest
diamond mining company, overtaking De Beers. As
part of this strategy, the miner is recommending that
its two main shareholders, Russia and Yakutia, use the
proceeds from the IPO to take civil projects of its hands
to unburden the company, in Sobolevs words. Tese
projects include improving the water infrastructures
and restructuring the Mirny airport. Government
must bear all the responsibility for these services, he
said at his ofce in Mirny.
Standing next to the electric

roadheader mining machine as
it ground the diamond-bearing
kimberlite mine wall was as far from
the romantic and glamorous aura
of polished diamonds as this frozen
harsh environment of Siberia is
from 5th Avenue.
36
|
|
memo
|
Russia and Yakutia will each ofer a 7-percent stake
in the company in the IPO. However, selling non-core
assets and transferring services to the government is
not where the growth will be derived.
In addition to the large reserves it has in Russia, Alrosa
is embarking on an ambitious exploration program in
Zimbabwe, Botswana and Angola. For example, the
miner has purchased seven concessions adjacent to
the Catoca mine in Angola.
Tis is all taking place while De Beers is reducing
production and investing in retail operations that are
apparently not improving its proftability. Currently, De
Beers mines fewer carats than Alrosa, but generates
more revenue. Tis is mainly due to Alrosa choosing
to extract smaller goods than De Beers. Despite this,
Alrosa was twice as proftable as De Beers in 2012 with
a higher operational efciency than the competitors,
Sobolev said (see Table, left).
I asked Sobolev when Alrosa
plans to be the largest diamond
company. By 2018, he said
without hesitation. Tis is clearly
a well thought-out plan. It is based
on constant consumer demand,
an increase in production, known
reserves and rough diamond
prices increasing moderately by a
few percent annually. Tis plan is
not based on growing consumer
demand or unproven resources.
Later this year, Alrosa will start
testing remotely-operated mining
equipment to reach areas it has
not previously mined due to
safety concerns. Its long-term
strategy is no less far reaching and
determined. It will get to places it
has never been before, but it leaves
one very important question open:
as it becomes number one, will
Alrosa also assume the leadership
role the diamond industry so
desperately needs? IDEX
Table
Alrosa & De Beers Key Financial Metrics 2012
Alrosa De Beers
US$
mln* YoY
US$
mln YoY
Revenue 4,867 10% 6,074 (16%)
ebITDa 1,998 (5%) 1,075 (39%)
ebITDa
Margin
41.1% 17.7%
Net Proft 1,085 26% 506 (15%)
Net Proft
Margin
22.3% 8.3%
*based on average exchange rate of $1=RUb 31
Source: Company Reports
To see more on edahn Golan's
trip to Russia, turn to page 121. Image: alrosa
Los Angeles New York Hong Kong
800.437.5421 info@almordesign.com www.almordesign.com
Natural
Pink & Fancy Color
Diamond Jewelry.
Most of our Pink
& Fancy Color
Diamond Jewelry
come with
their own
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B
G
K

G
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a
p
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JCK Las Vegas Show
May 28-June 3, 2013, LUX #437
(LUXURY Show from May 28-30)
Hong Kong Jewelry & Gem Fair
June 20-23, 2013, Booth #CEC 1A110
JA New York Show
July 28-30-2013, Booth #2619-2621
retail et
cetera
Going Black in Time
Grieb & Benzinger recently presented the Black Tulip
Sabudha Imperial. Te unique watch, issued in honor of the
third anniversary of luxury magazine Simply Abu Dhabi, is
inspired by the majesty, mystery and magic of the Middle
East. Te open-worked design of the hand-wound, solid rose
gold watch is infuenced by Arabic style and is particularly
inspired by the artistry of the Sheikh Zayed Grand Mosque
in Abu Dhabi.
|
39
Weve GoT our
eye on...The Time!
40
|
< on the Mark
Coinwatch presents a new duo of timepieces
the Mark collection. Inspired by ancient coins,
this watch comes as a 40-mm version for men
and a 30-mm version for women. Both sport a
bracelet and case in steel matched with rose
gold PVD coating. Te diference is in the dial,
which has a guilloch motif for men and white
mother-of-pearl for women. Te ladies watch
features 10 diamond hour-markers, while the
mens version showcases eight diamond hour-
markers and a date window.
< To Infinity and Beyond!
Te Translucent 8x from Alfex features
a bangle-type textured acrylic strap. An
octagon duplicated all around the strongly
curving bracelet creates a wire mesh pattern
composing a sequence of number eights,
echoing the mathematical symbol of infnity.
Te of-centered dial shakes up conventions
by framing the outlines of four assembled
octagons.
|
retail et cetera
|
INDIA HONG KONG BELGIUM USA
42
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< Cover Girl
Cover puts women at the heart of its creations with the Co158
Piedra, a timepiece with smooth lines and sophisticated
glamour. Te delicate 38-mm case features a carpet of blue or
black Swarovski crystals scattered on the the dial. Te black
leather strap becomes a natural extension to this efortless
geometry and further highlights the elegant execution. Each
watch is delivered inside a Cover handbag.
Sporty Styling >
Sporting and stylish, the Gc-1 Sport from GC Watches plays on
contrasts and materials, and asserts a distinctly masculine vibe.
A stainless steel case with gold PVD treatment delivers stylish
good looks, while the sports allure comes from its textured silver
or black carbon fber dial, three counters, mushroom chrono
pushers and a dynamic architectural bracelet.
Bridge Builder >
Te new version of Corums unique baguette movement, the
Ti-Bridge Automatic Dual Winder, combines a revolutionary
patented winding system, an original manufacture movement
and a new titanium case. Te Dual Winder system draws its
energy from two inline-mounted circular oscillating weights,
interconnected via a transmission arbor that makes them
move in parallel. Te CO207 movement is held in the center
of the case by four titanium cross-bars. Te impression of a
suspended mechanism is further accentuated by the lines
intrinsic transparency, framed by an anthracite grey dial.
|
retail et cetera
|
44
|
< Pinball Wizard
Te X-TREM-1 Pinball from Christophe Claret takes its
inspiration from pinball machines. Te Le Locle-based
watchmaker has reworked the appearance of its X-TREM-1
movement so it resembles the inside of a pinball machine:
bumpers, slingshots and balls are all evoked inside the
highly visible mechanism. Even the cool blue and bright
orange colors refect the pinball concept.
Man in the Moon >
Emile Chouriet only has eyes for the moon, whose
movements dominate the dial of its Moonphase watch.
Te Geneva brand has called on its watchmakers to
develop an original caliber in which the moon rotates
all the way round the dial. Blue mother-of-pearl creates
a lifelike, shimmering moon, while metallic stars are
dotted across its night sky to further illuminate the
realistic background of the dial.
|
retail et cetera
|
46
|
Yes Maam! >
Te new Squadron Lady by Wenger makes
its mark with a mix of cosmopolitan city
chic and sports-inspired style. Te brushed
and polished steel case is dominated by
the notched bezel, while the dial comes in
white mother-of-pearl or black lacquer. Te
Squadron Lady is 36 mm of fashion-forward
style. Resolutely modern, its three hands and
date put new life into the measure of time.
< Speed of Sound
Yeslam recently presented its latest
creation, the Aviator III, a watch designed
by and for pilots. It can calculate the
speed of an object in relation to the
speed of sound (Mach). It also includes
an automatic movement with alarm
and dual time zone, a rotating bezel
made from cobalt, a titanium case and
an aviator style calfskin strap.
|
retail et cetera
|
THE WORLDS
LEADING MANUFACTURER
OF FINE DIAMONDS
w
w
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.
l
s
d
c
o
.
c
o
m
The DTC logo is a trade mark used under licence from the DTC
Ramat Gan
Tel: (972) 3 576 6222
Fax: (972) 3 575 3569
ramatgan@lsdco.com
New York
Tel: (212) 688 2000
(800) 223 2082
Fax: (212) 688 3345
newyork@lsdco.com
Hong Kong
Tel: (852) 2180 7370-72
Fax: (852) 2180 7373
hongkong@lsdco.com
Shanghai
Tel: (021) 616 50199
Fax: (021) 616 50198
china@lsdco.com
Mumbai
Tel: (91) 22 4345 9999
Fax: (91) 22 2363 1037
mumbai@lsdco.com
Geneva
Tel: (41) 79 458 67 46
Fax: (41) 22 940 12 92
geneva@lsdco.com
Dubai
Tel: (971) 4 226 5565
Fax: (971) 4 226 5633
dubai@lsdco.com
Botswana
Tel: (267) 592 0986
Fax: (267) 592 1159
botswana@lsdco.com
Bangkok
Tel: (662) 261 1444
Fax: (662) 259 1696
bangkok@lsdco.com
V
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FOUR GENERATIONS. ONE PASSION.

48
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ometimes the simplest strategy can
also be the most powerful, successful
and fnancially benefcial.
Having just returned from the JCK
Show and having attended every social media seminar
available, it is easy to understand that trying to create
a truly viable and successful social media presence
takes time, energy and big bucks.
Jewelers need to learn a new vocabulary and
understand computer speak such as responsive
websites, changing content, keywords, Search Engine
Optimization and the like.
Unfortunately, most retail jewelers do not have the
money, manpower or mindset to do this in such a
way as to the greatest beneft from the Internet and
digital world.
While word-of-mouth remains one of the most
powerful forms of advertising, customer testimonials
placed on the digital marketplace dwarf the traditional
word-of-mouth process. Rather than one customer
telling a friend or colleague, hundreds, thousands or
millions might view or read what your customers are
saying about your store.
So how do you suggest to a customer that they should
share their wonderful jewelry-buying experience on
the Internet? Its simple. You ask them.
After a customer has made a purchase, call them
up and suggest that if they felt that the shopping
experience and the product they purchased was
truly positive, they should share their experience in
a few sentences on one of the social websites.
While your customer can place their review on
Facebook, Yelp, City Search, many social media
consultants suggest that Google is actually the best
place to get recommendations.
Since many customers do not have a clue as to how
they can post a recommendation, the store will need
to prepare an instruction sheet allowing associates to
either communicate how to do it over the phone or
email it to the customer to make it as easy as possible.
Whether you have an imperfect website, or you do
not have the time, money, manpower or desire to be a
geek, getting your store name up on the Internet with
great testimonials is the key to increasing bridal sales
and jewelry sales, and positioning your store as the
trusted place to buy jewelry. IDEX
retai l
The Porte Point of View:
Social Media Strategy for Success
By James Porte
S
Porte Marketing Group is a leader in providing turnkey
manufacturing solutions to jewelry retailers and manufacturers.
Founded by James S. Porte in 1989, the company provides
research, consulting, seminars, printing, photography and
graphic design services for the jewelry industry. For further
information, contact James Porte at jporte01@aol.com or go to
www.portemarketing.com
|
49
ome 36,000 people recently descended
on Las Vegas to attend the US jewelry
trade shows in the hot desert city. If
the fairs could be summed up in one
sentence, it would be that the US is
showing clear signs of improving demand, especially
for high-end goods.
Demand for loose polished diamonds was solid, and
trading was much better than last year, according
to practically all of the wholesalers present. Buyers
focused on traditional American goods round-
shape diamonds in HIJ colors and VS-SI clarities in
0.50 carat-2 carat sizes. Tese goods serve mainly as
center stones for setting in items that already contain
smaller diamonds pre-set by jewelry manufacturers.
Traders reported additional business for larger goods
up to 7 carats, although demand for these larger
goods was seen at a lower volume. Exhibitors with
fancy color diamonds also reported good demand,
especially for yellows, which are increasingly in
demand in the American market.
Despite the usual haggling, sellers were frm on prices.
On the frst day of the show, buyers walked away from
deals due to prices. During the last two days of the
event, buyers returned to the diamond section of the
trade fair to close deals after realizing that if they
wanted to buy, they had to accept the asking prices.
At the end of the show, wholesalers had mixed reports.
Some said they had a great event, while others were
retai l
Show Report:Las Vegas Show Proves
US Market is Rising
By Edahn Golan
S
Images: Courtesy JCK
50
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RETAIL > show report
|
a little more reserved. It seems that, as usual, those
ofering unique or niche goods fancy color yellow
diamonds or baguette-shaped goods and other square
cuts, for example, did better than others. In addition,
those wholesalers who had pre-set appointments
with clients existing or prospective also had a
better show.
Jewelry makers and wholesalers were especially
pleased with business. Demand for fnished items
was high, with buyers looking to add new designs to
their oferings. Retailers are fnally internalizing that
product diferentiation is essential both to reach their
clients and in order to engage with them.
Retailers favored those ofering true and tested items,
but with a twist, or those who had good customization
options. Among them was a turnkey system from
Stuller. It includes a computerized design system with
a large screen and demos of several dozen designs and
a large selection of stones. Jewelers and customers can
customize any of the many ring and pendant designs,
changing the stone type and size, metals and much
more, resulting in more than 100 diferent designs.
Once the client decides on the fnal design, the CAD
fle is sent to Stuller, which casts the item overnight,
sets and polishes it the following day, and sends it to
the retailer.
From a trend perspective, even though the price of
gold is cooling, silver jewelry is still a popular fashion
Jewelry makers and wholesalers

were especially pleased with
business. Demand for fnished items
was high, with buyers looking to
add new designs to their offerings.
Retailers are fnally internalizing that
product differentiation is essential
both to reach their clients and in
order to engage with them.
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49 Years Back a boy of 13 started out on his own barefooted and landed in Surat in 1964 to try his Luck in DIAMOND Industry.
He started as a Diamond cutter and broke the ground to become one of the greatest leaders in the Diamond Industry.
With his tremendous leadership qualities and extreme support to team members he kept on building Team of fine craftsmen and best leaders.
SRKians are proud to have such a Great Leader and his vision and guidance always leads us to exceed our expectations. We Thank
Mr. Govind Dholakia, Principal Founder of SRK for being our guide & for giving us an opportunity to be a part of one of the Worlds
Leading Diamond Manufacturing Company. He is Passionate, Visionary, Philanthropic & an Institute of his own.
2013
1
9
6
4
1
9
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2
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1976
2008
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51
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RETAIL > show report
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and designer option, as the show demonstrated. Tis
means that silver items set with diamonds are now
commonplace. Rio Tinto, for example, is supporting
a group of diamond jewelry designers as part of its
global Diamonds With A Story initiative.
The project is based on two elements that were
found in many other successful designs and brands
at the show, and which may be considered the years
design theme: a good story and ethics. Nearly all of
the jewelers and designers we spoke to said they
were tired of using the 4Cs to sell diamonds and
diamond jewelry. They want a good
story to tell their clients, something
that will turn them on to the jewelry
items and demonstrate that they are
buying more than just a pretty object.
Many designers have also found that
a growing number of their clients
prefer recycled or ethically sourced
materials, echoing the growing calls
for proven ethical items from the US
industry leadership.
Watch wholesalers, which always have
a smaller emphasis and section of
the JCK show were less busy than the
jewelry or stone exhibitors, yet they
too reported good business. Higher-
end brands seemed to be busier and
may have had better results than other
watch exhibitors.
As always, the JCK Las Vegas Show was
rich with events and programs, from the
DEF breakfast that highlighted jewelry
designed by companies supporting
their cause of improving education in
Southern Africa to the annual Le Vien
red carpet and trend forecast event.
Le Vien said that the full range of greens, not just
emerald, strawberry and blueberry hues are the
leading fashion colors for the coming year. In
diamonds, deep chocolate brown diamonds are the
way to go. If the recent Rolex campaign featuring a
brown watch is any indication, Le Vien is spot on, and
ready to reap the rewards with its wide collections of
brown-dominated items.
IDEX Online held its annual polished diamond
price analysis presentation to a receptive crowd of
independent retailers, wholesalers and representatives
of major jewelry retailers during the show. Te
presentation showed how internal diamond industry
events and external forces infuence polished diamond
prices. Te internal events are cyclical and, therefore,
buyers can time their purchases for when prices are
not rising. Te external events are macro- and micro-
economic events such as rising stock markets and
bank loans.
IDEX Online CEO Abraham Stern discussed tools
to leverage this knowledge and explained how they
can be used to better identify the current price of
diamonds in the wholesale market. IDEX
Le Vien said that the full range of

greens, not just emerald, strawberry
and blueberry hues are the leading
fashion colors for the coming year.
52
|
he diamond supply chain has seen
more changes in the last 10 years
than it has in the previous 100 years,
ever since De Beers was formed. Just
what do the next 10 years hold for the
diamond jewelry industry?
For much of the past century, the diamond industry
has been driven by producers, in particular, by
De Beers. However, this has begun to change. Te
consumer is increasingly infuencing the structure
and dynamics of the trade. For example, the
Millennial Generation of 18-30 year olds, who are
the prime target audience for diamond engagement
rings, makes extensive use of the Internet to research
purchases of all types even though they like to shop
in stores. For one of the most important purchases
in their life, using the Internet is even more likely.
Trough the use of the Internet, consumers, particularly
US consumers, can gain direct access to the loose
polished inventory of diamantaires around the world
at near wholesale market prices.
At the recent JCK Show in Las Vegas,
independent retailers were told time
and again that in order to survive they
needed to have a website, preferably
with design-a-ring capability and
access to an on-line inventory of
loose diamonds.
Te best known service to the
consumer is, of course, Blue Nile,
which has worldwide Internet sales
of $400 million. After a late start,
Signet has also been investing tens of
millions of dollars into what it calls
the digital environment, and it has
seen Internet sales grow rapidly to
$129.8 million, that is, 3 percent of its
total sales. Tifany does not disclose
its Internet sales in its SEC flings,
but claims sales of $227.7 million,
6 percent of total sales. Zales has
been involved in the Internet jewelry
market for some time and has sales of $89.7 million, 6
percent of its total sales.
In addition, there are Amazon and eBay, which sell
jewelry on the Internet, but for which no sales fgures
are available. Tere are also the web-based services
that primarily target the business-to-business sector,
but which also provide insight into the supply chain
for the consumer.
As a result, price visibility for the consumer has greatly
increased and will continue to increase. Merchandise
margins for everyone in the industry will continue to
be under pressure, particularly for certifed unbranded
retai l
Jewelry Supply Chain Revolution?
By Tim Jackson, CeO of Jiri
T
The consumer is increasingly

infuencing the structure and
dynamics of the trade.
|
53
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RETAIL > JEWELRY SUPPLY CHAI N REVOLUTI ON
|
stones. Tere will no longer exist the margin for
extensive trading of diamonds, as the function
performed by trading is increasingly replaced by the
visibility of the Internet.
Internet sales are not only afecting the bridal market,
but every part of the jewelry market. More and more,
consumers are able to design and personalize all forms
of jewelry. With interactive tools at their disposal,
Millennials increasingly want to feel they are active
participants. Jef Fromm, the executive vice president
of marketing agency Barkley, noted, Millennials want
to co-create products and services, they want to co-
create customer experiences, and they want to co-create
marketing. Tis is refected in the leading websites in the
sector and the use of social media by jewelry retailers.
To compete successfully in this environment of
increased price visibility, there are a number of
alternative strategies. For example by becoming the
lowest cost provider; by securing preferential access
to supplies of scarce diamonds; by diferentiation,
possibly by ofering superior service or by branding;
by great design; or by responding faster to changing
consumer needs.
In the context of the diamond supply pipeline, a number
of major players from all parts of the supply chain have
followed the frst two strategies. Tey are bypassing
many of the intermediate players and are increasingly
internalizing and integrating the supply chain.
Tifany is the most integrated; it does everything from
fnancing diamond mining, holding multiple DTC
Sights, cutting diamonds, manufacturing jewelry and
boasting worldwide retail operations.
Signet Jewelers has bought loose polished diamonds
for many years and has recently became a Rio Tinto
Select Diamantaire. In addition to the design and
repair centers in each of its Jared stores, Signet Jewelers
also opened a 39,000 square foot repair center in 2006
and in 2012 disclosed plans to expand it.
Zale Corp. has also developed a capability to source
loose polished diamonds, and on its most recent
quarterly results call disclosed that it had appointed
Millenials increasingly want to

feel they are active participants.
Jeff Fromm, the executive vice
president of marketing agency
Barkley, noted, Millennials want
to co-create products and services,
they want to co-create customer
experiences, and they want to co-
create marketing.
Internet Sales
2010
a
2011
a
2012
a
Blue Nile
b
$ Million 332.9 348.0 400.0
% of Total Sales 100% 100% 100%
Signet Jewelers
c
$ Million 68.1 92.3 129.8
% of Total Sales 2% 2% 3%
Tiffany
c
$ Million Not available Not available 227.7
% of Total Sales Not available Not available 6%
Zale
d
$ Million 63.8 77.6 89.7
% of Total Sales 3% 4% 6%
a. Information for nearest fscal year; b. Calendar year end; c. End January year end; d. End July year end
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A.T. Kearney to assist management [to improve the
efectiveness of its supply chain]. Luxury jewelry
retailers such as Harry Winston, Graf and Bulgari
also have very integrated supply chains.
It is not just retailers that have been expanding into
other parts of the supply chain. For example, another
highly integrated company is the Gitanjali Group.
With roots in cutting and polishing diamonds in and
jewelry manufacturing, Gitanjali is also the largest
jewelry retailer in the fast-growing Indian market, has
a signifcant retail presence in the Middle East, is the
sixth-largest specialty jewelry retailer in the US and
has retail exposure in Europe and Japan. Gitanjali
is a Sightholder of the DTC, Alrosa, Rio Tinto and
Dominion Diamonds.
Similarly the largest jewelry retailer in China, Chow
Tia Fook, also has its roots in diamond cutting and
polishing. Both Gitanjali and Chow Tai Fook operate
owned stores and a retail franchise operation.
In the gold and silver jewelry category, Pandora is
an integrated manufacturer and retailer. Although
operating very few stores itself, Pandora has been
increasingly reaching the consumer through
branded outlets rather than through small displays
in jewelry stores.
A similar pattern can be seen within the watch
category, whether in the mass market through Fossil
or in the luxury sector with stand-alone stores such as
Rolex, Omega, Brietling or Tag Heuer.
Perhaps a way forward for independent manufacturers
and retailers is to form partnerships to gain the optimum
scale to make the necessary investment and to gain
scale advantages, while at the same time ofering the
customer the in-store experience they want.
For example, Ritani is developing a model where the
brand is sold on-line but is serviced through a network
of independent retailers who receive commission on
every item sold in their area. Other manufacturers are
trying a similar strategy.
Te increased price visibility driving lower
merchandise margins one of the factors driving
a move to a more integrated supply chain means
that the diamond industry is facing a revolution, and
many of the ways in which it operates will change
dramatically over the next 10 years. Tis will create
new opportunities for those that are able to take
advantage of the opportunities created, but it is likely
to challenge the operating model for others. IDEX
Tim Jackson became Chief Executive Offcer of JIRI in May 2013 after 15 years with Signet Jewelers, the largest retail
jeweler in the US and the UK. Tim was Signets Investor Relations Director from 1998 to 2013 and was also secretary
to the board of directors from 1998 to 2004. This required an in-depth understanding of Signet, and the jewelry
industry. Signet won numerous investor relations awards while Tim was Investor Relations Director.
Tim also established Signets Corporate Social Responsibility program and led the companys implementation of
the Kimberley Process / World Diamond Council Certifcation Scheme as chairman of Signets Social, Ethical and
Environmental Committee, as well as participating in the establishment of the Kimberley Process. He has also been
involved with the Responsible Jewelry Council and the implementation of compliance with the Dodd-Frank Act
regulations on confict minerals. To to fnd out more, contact tim.jackson@jewelryresearch.com
A master eye for gems born or made? Coming from four generations of jewelers undoubtedly piqued my interest in this great business. But one needs to
constantly train their eye by looking at gems the more you learn, the better you will be at identifying and pricing gems, as well as being an efective salesperson and
well-rounded businessman.
Something most people dont know about you. GIA is what brought me to Christies. After studying in Santa Monica, I attended a GIA Career Fair where I had
my frst interview with the company.
Ok. Defnitely a story there? I started work when I was 17 and fve years into it, I thought I knew pretty much everything there was to know until I enrolled at GIA.
The Institutes meticulous training and high standards exposed me to a whole new world of expertise.
Ultimate sales edge emotion or expertise? Jewelry is an emotional shopping experience, but expertise plays a decisive role. Its wonderful to show people
a brilliant diamond, but it means more when you can follow up with a skillful explanation of the 4Cs exemplifed in that particular gem.
Lean economy. Less jewelry? At the nexus of the downturn in late 2008, we sold the Wittelsbach Blue Diamond for $24 million, a world record price back then
for any gem ever sold at auction. When you have great gems and jewels, the money makes itself available.
Any advice to young Turks? Dont lose the passion that brought you to this business, and above all,
keep learning every day.
Sooner or later, the worlds most
extraordinary gems will cross paths with
RaHul KadaKia.
Here, Christies Senior VP, Head of Jewelry Americas,
shares priceless insight into the jewelry business
and the value of an expert education.
GIA gratefully acknowledges those who use our resources to
further world expertise in gems. Invest in your success at www.giA.eDU
IDEX ISSUE: Specs: 8.2 x 10.6 MATERIALS: PDF/X1A
Osnat Davidov Marketing Manager IDEX USA, Inc 7 West 45th St. Suite #1602 New York, NY, 10036 Tel: +1 212 382 3528
IDEX_FNL 2013.indd 1 2/20/13 11:53 AM
56
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ith the rise of emerging markets,
more and more clients are
asking me how they can
increase profts by targeting the
BRIC countries (Brazil, Russia,
India and China) as well as the
Middle East.
Sometimes, they are looking to develop a
new line for that market, wheras at other
times they are seeking to take their existing
product lines to market. Emerging markets
are not the poor relations of established
economies. In some respects, these new-
money markets are even more brand
conscious than the more established nations.
Emerging markets are not bound by a lack
of prosperity from the past. Rather, they are
committed to a booming hi-tech future where
so many things are shiny and new societies
are changing fast. Tese economies have
fourished due to hard work and dedication. As their
wealth has grown, so has their appetite for luxury
goods jewelry being the pinnacle of this market.
Just because a market is emerging, does not mean
it lacks sophistication. Tese nations have grown
to become avid consumers of luxury goods; they
appreciate refnement, understand quality and value
marks of class and status. Customers in these markets
are eager to learn about the brands they consume
particularly from a heritage or brand value point of
view to see if this mirrors their own.
Te truth is, wherever a business operates, there
are three primary rules that must be adhered to
in luxury marketing. First, the brand must stir the
individuals emotions through a compelling story or
message. Ten the brand must assure consumers of
the exclusivity and quality of the product. Last but
by no means least, the brand must tap into buyers
aspirations by presenting them with a product and
crucial product communications that explain why
they simply must have it. A combination of all these
factors makes for high impact marketing.
W
retai l
Thinking Luxury
in the Emerging
Markets
by Rebecca F.A. Smith
of RFAS Consulting
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Businesses in diamond and jewelery manufacturing
should be using the major luxury goods houses as
a benchmark for branding quality standards. Why?
Because these businesses showcase the crme de la
crme of luxury, they defne haute couture, and they
are ultimate lifestyle brands with soul.
Diamond manufacturers and jewelry brand owners
are not immune to wanting to showcase their own
wealth and status, but I wonder how many make the
link between shopping for high-end brand, such as
Louis Vuitton, Prada, Chanel, Armani, and Gucci and,
by default, buying into the impeccable branding, and
their investment in their own brands.
Long-lasting luxury brands are rooted in a deep culture,
a beautiful story and strong aesthetics. Tey rely on
these features to create a following that allows their
business to transcend time, taste and fashion. Tere is
no space to be homogenous it contradicts creating
aspirational desire in customers at every level.
Companies entering emerging markets should
balance cultural sensitivity and respect traditions,
while showing innovation, excellence and
commitment to quality. Western branding appears
to have universal appeal, in part, because brand
creativity and design have a rich European heritage.
Terefore, it makes sense for Chinese and Indian
Long-lasting luxury brands are

rooted in a deep culture, a beautiful
story and strong aesthetics. They
rely on these features to create a
following that allows their business to
transcend time, taste and fashion.
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Emerging economies share a

common problem in that although
their growth has been rapid, it is
such a deviation from the past
that very few true luxury brand
benchmarks of national origin
exist especially in jewelry. This
is an opportunity.
companies to take note and to look to the crme de
la crme of Europe for visual and communication
cues when creating new brands and collections.
When we think about marketing to diferent
countries, we often overcomplicate the intricacies
of culture and consumers, but when these same
consumers are already subscribing to luxury as we
know it e.g. purchasing from companies owned by
PPR and LVMH it stands to reason that marketers
already have the insight and tools to relate to these
customers. Te customer is there waiting, and hot
branding matters.
Tis is especially true of China, where 70 years
ago luxury fell out of fashion due to the political
environment. Now that product, price and status
have renewed their relationship, there is a whole new
breed of consumer waiting and wanting to shop.
Emerging economies, however, share a common
problem in that although their growth has been rapid,
it is such a deviation from the past that very few true
luxury brand benchmarks of national origin exist
especially in jewelry. Tis is an opportunity.
The problem with emerging brands in emerging
markets is a lack of understanding of how to achieve
the finesse and appeal of top-tier luxury goods
houses. Likewise, there is limited understanding
of the more middle class luxury market, in which
goods and marketing should be both inspirational
and aspirational.
So when customers ask me how to reach these
markets, my answer is to be strategic with the aim of
delivering maximum brand impact and establishing
a message of quality and credibility very, very quickly.
Much is made of how important it is to understand
the emerging market consumer. Yes, this is crucial, but
equally important is knowing how to actually create
and manage a brand in a way that resonates far and
wide and beyond all else, to do it with consideration,
quality and sincerity three principles that command
a premium in luxury marketing. IDEX
Rebecca Smith is the founder of RFAS Consulting, a specialist
consultancy offering strategic marketing, business development,
creative and PR services throughout the international diamond
pipeline, from mine to shop foor. www.rfasconsulting.com
haRd woRk pays off.
manufacturer i mport - export poli shed di amonds i n all si zes and quali ti es
manufacturer of large si zes, rounds and fanci es, up to 25. 00 cts
schupstraat 1/7 2018 antwerpen belgium tel + 32 3 231 21 47 info@pinchasi.com www.pinchasi.com
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Retail
Bytes
Pandora Jewelry Boosts Brand aPPeal
with Martina McBride PartnershiP
Pandora Jewelry has partnered with singer, songwriter
and entertainer Martina McBride for its latest
campaign. McBride will appear in Pandoras print
advertising in a variety of US and Canadian magazines,
such as Fitness, Lucky, Every Day with Rachael Ray,
Redbook, Canadian Living and Style at Home.
Te jewelry brand is also sponsoring several of
McBrides upcoming concerts. As part of this
sponsorship, Pandora Jewelry will ofer the singers
fans the chance to win some of her favorite Pandora
jewelry pieces and upgraded VIP concert tickets.
Women frequently use music and jewelry to express
their memories, life story and individual style, said
Angel Ilagan, vice president of Marketing, Pandora
Jewelry, North America. We are excited to help
commemorate Martinas unforgettable moments and
to connect with her fans at concerts.
In addition to the print campaign and tour
sponsorship, McBrides Facebook page and activities
on Twitter and Instagram will also help Pandoras
growing social media eforts. IDEX
Martina McBride
haRd woRk pays off.
manufacturer i mport - export poli shed di amonds i n all si zes and quali ti es
manufacturer of large si zes, rounds and fanci es, up to 25. 00 cts
schupstraat 1/7 2018 antwerpen belgium tel + 32 3 231 21 47 info@pinchasi.com www.pinchasi.com
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Tara Jewellers has opened six new stores across
India, bringing its retail presence up to 36 stores in
25 cities in the north, west and center of the country.
Te company said more openings are in the pipeline,
and there are plans to increase this number to 50 in
37 cities.
Te new stores were opened in Bhatinda, Jalandhar,
Jaipur, Jodhpur, Ludhiana and Udaipur.
In a bid to increase its infuence in the ever more
competitive Indian market, the company recently
launched its frst television commercials highlighting
the importance of jewelry for most Indian occasions
and the key features of the Tara Jewellers brand.
tara Jewellers launches six new stores
At Tara Jewellers, we are expanding both in width
and depth of penetration with presence in Tier I,
Tier II and Tier III cities, said Vikram Raizada, Tara
Jewellers executive director and CEO of Retail.
Tese expansion plans are in-line with our growth
plans, as we see a shift of consumers from the
unorganized to organized markets as they want
certifed and reliable jewelry and enhanced services.
In addition to its position in the domestic Indian
market, the company also has a strong presence in
the international markets including Australia, China,
Canada, European Union, South Africa, the UK, the
US and South and Central America. IDEX
Vikram Raizada at a Tara
Jewellers store opening
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tiffany & co. to open first fully-owned store
in russia in 2014
Upscale jeweler Tifany & Co. plans to open its frst
wholly owned store in Moscows famous GUM
department store in Red Square.
Te two-level store will cover around 420 square
meters (approximately 4,520 square feet) in Moscows
leading luxury shopping and art and culture area, and
is expected to be opened in the frst quarter 2014.
Establishing a presence at this preeminent
department store is a milestone in our growth
strategy as a leading global luxury brand and
underscores the importance of the Russian market,
said Frederic Cumenal, executive vice president,
Tifany & Co.
The outlet, which will feature archival motifs
symbolic of Tiffanys heritage, will offer engagement
rings such as the Tiffany Setting, and jewels set with
yellow and pink diamonds. Jewelry by designers
Elsa Peretti, Jean Schlumberger and Paloma Picasso
will also be available.
Tifany & Co. operates jewelry stores in the Americas,
Asia-Pacifc, Japan, Europe and the United Arab
Emirates. IDEX
Vikram Raizada at a Tara
Jewellers store opening
Image: Tiffany & Co.
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terry Burman appointed Zale corp Board chairman
Former Signet Jewelers Ltd CEO Terry Burman has
been appointed as a director and chairman of the
board of Zale Corp.
John B. Lowe, Jr., who has served as chairman for the
past fve years, remains on the board.
Burman served as Signets CEO from 2000 to January
2011. He joined Signet in 1995 as the chairman and
chief executive ofcer of Sterling Jewelers, Inc., a US
division of Signet.
Before joining Signet, Burman held executive
positions, including president and CEO of Barrys
Jewelers, Inc., now known as Samuels Jewelers.
Zale Corp CEO Teo Killion said, Terrys track record
and industry knowledge make him uniquely qualifed to
contribute to Zale as we execute our plans for long-term
growth and shareholder value. Id also like to thank Jack
Lowe for his stewardship as chairman as we stabilized
the business and created the path to proftability.
Meanwhile, in separate news, Zale announced third-
quarter net earnings of $5 million, compared with a
loss of $5 million in the prior year quarter. Revenues
were $443 million compared with $445 million in the
third quarter of fscal 2012.
For the third quarter of fscal 2013, comparable store
sales increased 1.4 percent. Tis increase follows an
8-percent rise in the same period last year. At constant
exchange rates, comparable store sales increased 1.7
percent. Adjusted for the impact of February 29 in fscal
2012, comparable store sales increased 2.6 percent.
We delivered strong results in March and April
after a slow start to the quarter in February, which
resulted in our tenth consecutive quarter of positive
comps, said CEO Teo Killion. Tese results refect
the recent investments we have made to improve the
efectiveness of our guest-facing teams and the appeal
of our product oferings.
For the nine months ended April 30, revenues were
$1.47 billion, an increase of $11 million. Comparable
store sales rose 2.7 percent in the frst nine months of
2013. Tis growth follows a 6.5 percent increase in the
same period last year.
Operating earnings were $38 million, or 2.6 percent of
revenues, compared to $27 million, or 1.8 percent of
revenues, in the frst nine months of fscal 2012. Net
earnings were $18 million compared to a net loss of $8
million in the same period last year. IDEX
richline to Buy us
pearl Brand honora
Te Richline Group, a wholly-owned unit of Berkshire
Hathaway Inc., has agreed in principle to acquire
Honora, the US freshwater cultured pearl brand.
Te transaction is expected to be completed this
month (July).
Under the terms of the deal, Honora CEO Joel Schechter
and president Ralph Rossini will remain to run the
company as a standalone brand within the Richline
Brands division of the Berkshire Hathaway Company.
Rossini said the frm was looking forward to utilizing
Richlines expertise and vast resources to expand our
brand and strategic opportunities.
Richline president Dave Meleski said a primary
aim of the acquisition was to provide fnancial
support and collaboration to enable domestic and
international growth. IDEX
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Jic announces ultimate proposal winners
More than 550 entries were submitted, and more than
22,000 votes were cast to determine the winners.
JIC says its consumer contests are designed to
emphasize the engagement ring as an important part
of the proposal, generate excitement for fne jewelry
and raise awareness about Jewelers of America-
member retail stores during the traditionally slow
selling season from February through May.
Jewelry Information Centers Ultimate Proposal
Contest emphasizes the special sentiment
behind the engagement ring. An Unforgettable
Performance illustrates the ingredients of a special
proposal uniqueness, surprise and, of course, a
sparkling engagement ring, said Amanda Gizzi,
spokesperson for JIC and the organizations director
of communications.
Sponsors of the contest include Davids Bridal
and Perfect Circle Jewelers Mutual Insurance
Company. IDEX
Just when you think that marriage proposals cannot
get any more creative, along comes a story that
deserves a standing ovation.
That was the case for the winners of the fourth
Jewelry Information Centers ( JIC) Ultimate
Proposal Contest. This years contest victor was
An Unforgettable Performance, submitted by
Kevin Dietzler, whose theatrical proposal included
a performance from a group of students, family
and friends that made theater choreographer Abby
Shunskis the star.
As the competition winners, Kevin and Abby won a
shopping spree that included, among other items, a
$1,000 gift card to Jewelers of America-member Barry
Jay Jewelers in Springfeld, Pennsylvania.
To participate in the increasingly popular contest, JIC,
the consumer education arm of Jewelers of America,
asked couples to submit their proposal stories at the
JIC website.
philippe mellier notes Vital role
of foreVermark Brand
During the holiday season, Forevermark will return
to national network television with Te Center of My
Universe
TM
featured in a commercial. Te marketing
plan also includes national print magazines and
newspapers, paid search, online video, digital
sponsorships and targeted digital advertising.
Forevermark has strengthened both its supply of loose
diamonds and fnished jewelry with the addition of
new Forevermark diamantaires and manufacturers.
To meet jeweler requests, the brand has expanded
fancy shape oferings with both round and straight
edges, fancy yellow diamonds, Hearts and Arrows,
and special-cut diamonds.
Te aims of the Forevermark Leadership Council will
be to discuss and debate ideas on how to improve the
Forevermark partnership and work towards a stronger
leadership role in the diamond industry. IDEX
De Beers Group CEO Philippe Mellier stressed the
importance of the Forevermark brand at a speech at
the JCK Show Las Vegas.
In addition to announcing marketing plans for the
fourth quarter, it was revealed that a Forevermark
Leadership Council would be established.
Mellier addressed the Forevermark North America
Partnership with an overview of the De Beers Groups
strategy, It remains a De Beers strategic priority to
grow Forevermark as the worlds leading diamond
brand, he said
Meanwhile, Charles Stanley, president of Forevermark
US Inc., said that following a positive response from
consumers, Te brand will continue to focus its
marketing eforts on Te Center of My Universe
TM
in
the fourth quarter of this year.
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retai l
Facets
Steinmetz DiamonDS & Ron aRaD
Unveil the laSt tRain at the venice Biennale
Steinmetz Diamonds and architect Ron Arad
recently collaborated for the 55th Venice Biennale.
Called Te Last Train, the piece is Arads response
to Steinmetzs initiative and commission to create a
work of art incorporating diamonds.
Te artist said his installation emphasizes the strength
of the diamond as a raw material rather than as a
symbol of value and adornment. It uses diamond
panes to etch messages of love, hate, rebellion or pain
on glass.
Te piece consists of a cast of Arads fst, armed with
an Arad-designed Steinmetz diamond ring, poking
through a black cloth, scratching glowing lines onto
a glass pane. Te art work is created on an iPad using
a specially developed app, which scratches the image
onto the glass.
Arad has invited a number of artists to take on the
role of creator including Anthony Gormley, Christian
Marclay, David Shrigley, Cornelia Parker, Richard
Wilson, Robert Wilson, Sara Fanelli, Sue Webster and
Tim Noble, Leandro Erlich and Gavin Turk. Ai Weiwei
also scratched remotely from Beijing.
Steinmetz is a proud partner in this project that
introduces our unique diamonds to the world of
art. Last Train is an exciting beginning to what will
become a series of collaborations highlighting the
synergy between art and diamonds, said Lior Levin
of Steinmetz Diamonds. idex
The Last Train
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Brilliance.com launches
skype With an expert Feature
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retail > facets
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Ohayon. Its also a trust factor, as buying a diamond
online can be overwhelming to some customers. Seeing
us face-to-face helps them to know that were really
here to help them fnd the best diamond or jewelry
piece for their budget. idex
Using Skype is nothing new, but online jewelry retailer
Brilliance.com recently announced the launch of its
new Contact an Expert feature. As well as providing
email and live chat options, the facility present
on most of the retailers product pages allows
customers to schedule or initiate a Skype video chat
with a diamond and jewelry expert who can advise
them in a real-time, face-to-face conversation.
Te company says it sees this feature as a pioneering
way to forge bonds with customers while assisting
them with their questions and streamlining the
process of placing an order.
To access the facility, users fll in a brief form with
their information and then receive an almost instant
response either to confrm the scheduled conference
date and time or to initiate a conference that is
requested on the spot.
Tis feature allows our customers to see for themselves
who we are and what we do, said COO Jonathon
aWDc launches DiamonD JoB WeBsite
Te Antwerp World Diamond Centre (AWDC) has
launched a job service called Antwerp Diamond
Jobs as part of a plan to help diamond companies fll
positions more efciently.
Te online service, which went live on May 23, is
the frst jobsite targeted specifcally at the Antwerp
diamond industry. It gives job applicants free access
to a list of vacancies in the Antwerp diamond industry,
and users can also upload and edit their personal
profle online.
AWDC CEO Ari Epstein said there are a wide range
of positions available at diamond companies. On
a yearly basis, we expect to post an average of
approximately 150 job openings online. Te Antwerp
diamond industry is surprisingly diverse. Diamond
companies are not only looking for diamond polishers
or diamond graders, they also need administrative
personnel, marketing people, IT employees and more.
Epstein said the jobsite is part of the AWDCs 2020
strategic plan.
We noticed that people are not really looking for jobs
in a specifc diamond company, but they are rather
searching for a job in the industry in general. With
over 1,800 registered diamond companies in Antwerp,
it is very difcult to fnd an overview of all relevant
vacancies in our industry.
He said the initiative will not only make it easier for
job searchers to fnd a job, but will also help diamond
companies in their search for suitable employees.
Diamond companies will be able to post their
vacancies online free of charge. idex
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BUlgaRi JeWelRy going on DiSplay
at San FRan mUSeUm
Jewelry is often described as being wearable art,
but with the opening of Te Art of Bulgari: La
Dolce Vita & Beyond, 1950-1990 exhibition at
the Fine Arts Museums of San Francisco, the
distinction between art and jewelry is being
blurred even further.
Te exhibition will feature approximately 150
pieces created by the renowned Italian jeweler
over four decades. It will highlight jewelry that
defned a pivotal period in Italian design, and
will include many pieces from the personal
collection of Elizabeth Taylor.
Te show will display the eclectic creativity
and invention of the 1960s when the company
began to create its own trademark by embracing
boldly-colored combinations of gemstones,
heavy gold and forms derived from Greco-
Roman classicism, the Italian Renaissance and
the 19th-century Roman school of goldsmiths.
During this period, Bulgari helped to develop a
look that would come to be known as the Italian
school of jewelry design.
It also features works from the 1970s and
1980s, a period infuenced by Pop Art and other
contemporary trends.
Te hard-edged designs of the 1970s included a
whole range based on the Stars-and-Stripes motif,
while in the 1980s, the Parentesi collection had a
modular architectural presence; both show how the
jeweler could lead in new directions with a strong
sense of design, said Martin Chapman, curator in
charge of European Decorative Arts and Sculpture at
the Fine Arts Museums of San Francisco.
Te Art of Bulgari: La Dolce Vita & Beyond, 1950-
1990 will be on display at the de Young Museum from
September 21, 2013-February 17, 2014. idex
FOR LIVE UPDATES
WWW. I DEXONLI NE. COM
V
I
S
I
T
Image: Bulgari
For registration visit
www.iijs.org
For details contact:
The Gem & Jewellery
Export Promotion Council
Tel : +91-22 4354 1800
Fax: +91-22 2652 4769
Email: iijs@gjepcindia.com
Bombay
Exhibition
Centre
8
AUG
12
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71
AlrosA Commits to Holding tenders in new York
Alrosa has committed to continue to hold tenders of
rough and polished goods in New York, and will stage
them several times a year, according to Diamond
Manufacturers & Importers Association of America
(DMIA) president Ronnie VanderLinden.
Alrosa and the DMIA held a series of discussions
earlier this year to see how the miner could increase
its activities in New York.
Alrosa recognizes the opportunities New Yorks
diamond and jewelry industry has to ofer and the
citys importance as the access point to the worlds
largest consumer market for diamonds, gems and
jewelry, said VanderLinden.
Alrosa vice president Alexander Malinin, general
manager of Brillianty Alrosa, the companys cutting
and polishing division, said Alrosa looked forward
to extending its operations in New York. Te
overwhelming majority of diamonds, gemstones and
jewelry come into the American retail and consumer
market through 47th Street, he said
Te volume of business done in Manhattan is huge,
and we simply need to be there, where the action is,
he said. He added that Alrosa would be moving into
larger ofce space in 580 Fifth Avenue (Te World
Diamond Tower) to accommodate the extension of
its platform of operations.
Further proof of Alrosas determination to extend
its involvement in the American / New York market
is its negotiation of a contract with Tifany & Co.
and the signing of a memorandum of understanding
with Sothebys for the sale of important stones,
said Vladlen Nogovitsyn, head of marketing for the
Russian mining company.
VanderLinden said the DMIA looked forward to
working closely with Alrosa. As New Yorks leading
diamond industry organization, the DMIA has our
fngers on the industrys pulse. We look forward to
Alrosa becoming an ofcial member of DMIA as soon
as possible. IDEX
polished
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polisHed > news
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indiAn JewelrY
industrY FeArs For
sAles As rupee deClines
Already hit by the rising price of rough diamonds
this year, Indian manufacturers are being battered
by the sinking rupee, which is sending the price of
imported rough diamonds higher.
Te rupee recently reached record
lows of around 59 to the US dollar.
Consumer sales are also being hit as
higher prices feed through to stores.
India is the third-largest market in
the world for diamond jewelry.
Te Times of India described the
rupee as the most battered of the
Asian currencies, and its decline is
due to Indias signifcantly larger
current account defcit.
Although emerging market
currencies in general have been
hit by the dollars rise, which
was sparked by a strong US jobs
performance in May, the rupee has
been the hardest hit.
We have to calculate the price of
polished stones in dollars, Praveen
Nanavaty, chairman of Surat-based
jewelry company SHE Jewel, told
Te Times of India. However, a stone
that cost 80,000 rupees a few months
ago would now command a price of
100,000 rupees due to the weakening
of the rupee.
Polished diamonds are priced in
dollars, and the consumers have to
pay as per the current rupee rate. Add
to this, the 8-percent duty on gold
imports. Te end diamond jewelry articles are going to
be more costlier than they were a few months ago, said
Dipak Choksi, regional chairman of the All-India Gems
and Jewellery Trade Federation.
Tis is not a good sign for the diamond jewelry
industry, which is growing at 25 percent year-over-
year. Consumers will not be able to absorb such a
huge price diference, said a Mumbai-based leading
DTC Sightholder and jewelry manufacturer.
Te rupees latest decline has taken it well below its
previous all-time low of 57.32, reached on June 28
last year.
Although a weaker currency helps exporters, it is a
blow for importers. Te government is satisfed with a
weaker rupee since it has been trying to curb imports
in a bid to curb Indias large current account defcit.
As part of that strategy, the government recently
increased duty on gold to 8 percent from 6 percent
after demand for gold soared in May to around 162
tons approximately double the average monthly level.
It was the second time this year that the government
has raised taxes on gold after increasing it to 6
percent from 4 percent in January to the dismay of
the countrys jewelry industry, which claimed it would
reduce sales. IDEX
Full Page template.indd 102 01-Feb-12 5:57:14 PM
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Te move has come about due to rising rough
diamond prices and declining proft, according to Te
Times of India.
SRSDIL was set up with the aim of directly sourcing
rough diamonds from mining countries and selling
to small and medium-sized diamond frms in Surat,
Indias leading diamond processing center.
Te company has so far sold Rs 100 crore (~$17
million) worth of rough diamonds in three tenders.
Partnership Africa Canada (PAC) last year attacked
SRSDIL for allegedly securing diamonds from the
Marange deposits in Zimbabwe and selling them via
a sophisticated price-manipulation scheme that
deprives the African country of millions of dollars.
Since leading Diamond Trading Company (DTC) and
non-DTC owners are directors of SRSDIL, we cannot
source rough diamonds from the controversial
Zimbabwe mines due to the US sanctions, said a
company director seeking anonymity.
On the other hand, the company is not earning profts
from selling diamonds sourced from leading mining
companies due to the heavy price hike ranging from
15-20 percent in the last one year, he added.
We are in talks with the private players in the industry
for the sell-of. Te policy of SRSDIL does not allow us
to sell goods on credit. IDEX
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polished > news
|
surat rough Buyers
group directors
in sell-off talks
Directors of Surat Rough Diamond Sourcing
India Limited (SRSDIL), a diamond-buying group
established by leading diamond companies in Surat
just two years ago, are discussing selling of the frm.
donna Baker resigns from gia
due to differing Views on direction
Gemological Institute of America (GIA) President and
CEO Donna Baker has resigned due to difering views
on the direction of GIA.
No further information was provided about the
surprise announcement.
Board chair Susan M. Jacques, president and CEO
of Borsheims Fine Jewelry and Gifts, is interim
president and CEO while the board conducts a
search for a new executive.
Tom Moses, senior vice president of Laboratory and
Research will continue overseeing all of GIAs global
laboratory operations.
Bev Hori, vice president of Education and chief
learning ofcer, will continue to lead GIAs gemological
and industry education eforts.
Te GIA said that no other changes in management
are anticipated. IDEX
|
75
canada and south korea
applying for wfdB memBership
Canada and South Korea are applying for World
Federation of Diamond Bourses (WFDB) membership.
A delegation from South Korean staged its
presentation during the WFDBs Presidents Meeting,
which was held at the Istanbul bourse in June.
Another highlight of the meeting was the signing of
documents to proceed with the registration of the
World Diamond Mark Foundation, thereby allowing
the Mark Committee to proceed with arrangements
and funding. Members also address developing better
channels of communication, including the use of
social media.
A number of new WFDB committees were
confrmed during the Istanbul meeting, in a bid to
increase organizational efectiveness and reduce
the management hierarchy in an efort to improve
response time to members.
Te WFDB created the following committees:
International Arbitration Committee, FATF
Committee, Lab & Technical Committee, Publicity
Committee, World Diamond Mark Committee and
the Membership Committee. Tey will work with
the Finance Committee, the Trade and Promotions
Committee and the Judicial Committee, with all of the
bodies to report to the WFDB executive.
Te Istanbul meeting was attended by 26 international
bourses, along with South Africas Minister of Minerals,
Susan Shabangu, while Botswana and Zimbabwe also
sent high-level delegations.
Te Presidents Meeting addressed diamond and jewelry
taxation, which varies by country, and developing
markets. Chaim Even-Zohar, an industry analyst, led two
presentations, the frst of which dealt with taxation and
the second provided an overview of the banking sector
as it pertains to the diamond industry.
During our meetings in Istanbul we consolidated our
position as the worlds leading diamond organization,
representing the full value chain from mine to fnger,
said WFDB president Ernie Blom.
Tis was further consolidated with the historic
agreement signed in Istanbul between the WFDB and
CIBJO to work together to enhance and develop the
diamond and jewelry industry.
Te WFDBs next meeting, the WFDB World Congress,
will take place in Antwerp in June 2014. IDEX
Alexander Hasenfeld, a leading member of New Yorks
diamond business for many years, and the founder of
Hasenfeld-Stein, passed away on June 6.
Born in Hungary and a survivor of the Auschwitz and
Dachau concentration camps, Hasenfeld started out
as a diamond cutter after moving to the United States
in 1948.
However, he soon moved into the niche market of re-
cutting diamonds to increase their value.
In the 1950s, he was among the frst to explore the
uncharted territory of the Japanese market.
In 1991, Hasenfeld-Stein was appointed a Diamond
Trading Company sightholder.
Alexander Hasenfeld served as a director of the New
York Diamond Dealers Club (DDC) for many years. IDEX
alexander hasenfeld passes away
76
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polished > news
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Designer Anna Hus Orpheus smashed its
pre-sale estimate at the recent Christies
Magnifcent Jewels Auction in Hong Kong. Te
jadeite ring sold for $2.59 million, more than
fve times its pre-sale estimate of $500,000. Te
outstanding result was also a sales record for a
Chinese contemporary jewelry artist.
Te ring, inspired by the ancient myth of
Orpheus and Eurydice, features a 45.39-carat
emerald green jadeite cabochon surrounded by
pav diamonds.
A briolette emerald drop, shaped like a note,
hangs down and echoes Hus background as
a classically trained cellist. Te ring is further
enhanced by yellow and pink diamonds
mounted in 18-karat white, pink and yellow
gold. Te diamonds total 4.51 carats.
In mythology, Orpheus was the ancient Greek
poet, singer and lyre player whose love for his
wife, Eurydice, was so great that he willingly
descended into the Underworld in an attempt to
bring her back. IDEX
News Round-Up
The International Gemological Institute (IGI) has moved to new offices at Mumbais Capital Bandra-Kurla Complex, not
far from the Bharat Diamond Bourse. Gems and Jewellery Export Promotion Council (GJEPC) chairman Vipul Shah, IGI
Worldwide Co-CEO Roland Lorie and other leading industry members attended the inaugural event. The IGIs new offices
cover more than 50,000 square feet and have been equipped with upgraded systems.
Indian exports of polished diamonds surged 37.4 percent higher year-over-year to $1.83 billion in April 2013, according
to figures published by GJEPC. Imports of polished goods jumped 11.7 percent to $400 million in April. Rough diamond
imports soared 22 percent to $1.92 billion in April, and exports of rough surged 110 percent to $242.1 million.
The Diamond Bourse of Canada (DBC) has launched an online trading platform for sourcing and purchasing Canadian
diamonds from bourse members. The platform is based on IDEX OnSite, a fully embedded web database of diamonds with
hundreds of thousands of goods providing a fully operational B2C website with an inventory of billions of dollars-worth of
goods. For more information, visit: http://ibourse.ca.
anna hu ring sets auction record
for chinese contemporary Jewelry artist
I DEX MAGAZI NE Vol. 279
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77
ray is one of the less attractive colors
when it comes to fancy diamonds.
Even when it appears in conjunction
with other popular colors, such as blue
or green, its efect on the overall price
is negative, regardless of its dominance within the
stone. Tis is true whether it is the primary body color
or merely a secondary moderator.
We decided to focus on the gray color, and to show
the infuence it has on prices. We screened more than
$200 million worth of fancy diamonds in our database
to locate all GIA-certifed diamonds with gray or
grayish mentioned in their color grade. We then used
the GemePrice pricing system to compare their prices
against those of straight-color diamonds in other words
the stones having the same body color, but without the
gray moderator, to determine the price variations.
Te results were divided into two categories. Te frst
was comprised of diamonds with a gray body color,
where we analyzed the efect of various other color
moderators on the price. In the second category, we
focused on the gray (or grayish) color as a moderator
to see how it afected the price of various straight
body colors.
Te gray body color results are shown in Graph 1.
It is clear that pure gray is considered considerably
less valuable than a gray body color enhanced by
moderators. Adding a greenish tint to the gray
color will increase the value of the diamond by
approximately 30 percent. Te more desirable
bluish tint, however, will fetch double the price and
sometimes even higher values.
When analyzing the gray moderators, and visible in
Graph 2, the same negative infuence is maintained.
Diamonds with straight body colors fetch higher prices
than those that include gray shades. Adding a gray or
grayish tint to green or blue body colors will reduce the
price of the stone by 30 percent for grayish and up to
50 percent for gray, when compared to their respective
straight color stones with similar parameters.
Tese numbers support the trades negative perception
of gray colored diamonds. It is not surprising that most
sellers prefer that their stones not receive a grayish
0
50
100
150
200
250
Graph 1: Gray Body Color
Straight Bluish
Moderator
Greenish
Moderator
100%
200%
130%
0%
20%
40%
60%
80%
100%
Straight Color
Grayish
Moderator
Gray Moderator
Graph 2: Gray As A Moderator
Blue or Green
Body Color
0
20
40
60
80
100
poli shed
Many Shades
of Gray
By the Gemewizard Team
G
78
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polished > gemewi zard
|
0
50
100
150
200
250
Graph 1: Gray Body Color
Straight Bluish
Moderator
Greenish
Moderator
100%
200%
130%
0%
20%
40%
60%
80%
100%
Straight Color
Grayish
Moderator
Gray Moderator
Graph 2: Gray As A Moderator
Blue or Green
Body Color
0
20
40
60
80
100
AbouT GemewizArd
Gemewizard is a pioneer in the development of digital
color-based systems, which provide solutions for professionals
involved in the fancy color diamond, colored gemstone
and jewelry industries, enabling the analysis, description,
communication, pricing and trading of color in gems. The
suite of products developed by Gemewizard is based on the
companys groundbreaking color communication technology
called GemeSquare, which has been endorsed by GIA, and
since 2006, has been incorporated into the GIA curriculum.
http://www.gemewizard.com
moderator in their certifcate. In fact, some would
even consider recutting the gem if it would help rid
it of its unappealing tint. However, if one has a gray
body color graded diamond, the best one could hope
for is for it to include an extra color, which would
help to push its price higher. IDEX
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Antwerp, Belgium
Contact us at our recently opened oce in Antwerp
and in all major diamond centres around the world
Visit our website to contact a representative in your
area or in the US at 800-401-SHIP
80
|
hine bright like a diamond, like a
diamond in the sky. Tis relatively
recent hit single by Rihanna has
garnered a lot of attention, but
when it comes to actually buying
diamonds, it seems that over the
past few years the shine that catches buyers eyes
depends heavily on their geographical location.
It is no secret that Asian diamond buyers have
been a powerful source boosting the appreciation
of investment-grade diamonds. In Southeast Asia,
Singapore is one of the central, go-to locations, for
buyers of high-quality goods, important stones and
fancy colored diamonds.
In an interview with Brian Menell, chairman of
Special Situation Diamonds of London, Forbes writer
Russell Flannery reports, Roughly 1,305 people [in
Singapore] fall into the ultra high net worth (UHNW)
range with an approximate net worth totaling $155
billion. As a result, the island seems to quickly be
creating quite a name for itself in the global diamond
industry.
Some observers have suggested that as many as 50
percent of the major purchases in the last few years
have come out of China and Southeast Asia. Hong Kong
is now globally recognized as one of the worlds leading
diamond markets, even more so with regard to high-
quality goods and fancy colored diamonds. According
to Menell, Te Asian market as a whole contains
nearly 43,000 ultra-rich individuals with a combined
wealth of close to $6.3 trillion. So, it is no real surprise
that Asia is said to be making an enormous impact on
the high-end goods of the market.
Vihari Sheth, managing director of Vihari Jewels, said
that 5-carat to 20-carat colorless diamonds, valued
anywhere from $500,000 to $6 million, are selling
quickly. Most of her clients, who tend to be in their
40s to early 50s, are permanent residents of Singapore
from Indonesia, India and China.
More and more people in these countries dont
only look at diamonds for their fun factor or as a
status symbol. Rather they seek out the diamonds
which ofer exceptional investment potential with
stable economic growth and fantastic long-term
appreciation, said Leibish Polnauer, president and
founder of Leibish & Co.
To attract these buyers, and just in time for the JCK
Las Vegas show, followed almost immediately by the
June Hong Kong Jewellery & Gem Fair, Leibish & Co.,
presented the Flawless Perfection collection of more
poli shed
Colored Diamonds: Exceptional
Investment Potential
By Benji Margolese, Content Manager, leibish & Co. ltd
S
Auction results of Sothebys and

Christies of Fancy Intense Pink
Diamonds between 3.5 carats
and 5 carats showed a fantastic
appreciation of 443 percent
between 2003 and 2011.
1.77 Carat Fancy
Orangy Pink Diamond,
Cushion, IF
1.56 Carat Fancy
Brownish Orange Pink
Diamond, Pear, IF
Images: Leibish & Co.

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81
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polished > colored di amonds
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than 30 internally fawless natural fancy colored
diamonds, specifcally geared toward Asian buyers
searching for high-quality, important stones.
Earlier this year, the company released a colored
diamond infographic ( http://bit.ly/13TNYJ0) focused
on the investment potential of certain colors. It
illustrated how the publically displayed auction
results of Sothebys and Christies of fancy intense pink
diamonds between 3.5 carats and 5 carats showed a
fantastic appreciation of 443 percent between 2003
and 2011. In addition, there was also an appreciation
of 350 percent for fancy intense yellow diamonds over
5 carats.
Although these numbers are accurate, some of the
talkback was that such impressive results were only
seen with important diamond at auction. So the
company decided to release a study based on their
diamond prices for more commonly traded goods.
Ten years ago a 0.50-carat fancy intense pink diamond
was priced at roughly $30,500 per carat. Five years ago
that same diamond was already at $50,000 per carat,
said Yossi Polnauer, CEO of Leibish & Co. Prices
have continued to increase since, leaving us today at
$145,000 per carat. With a phenomenal 375-percent
price appreciation for a 0.50 carat fancy intense pink
diamond over the past 10 years, how many other asset
classes can boast that type of yield?
With regard to yellows, 10 years ago a 2-carat fancy
intense yellow diamond with a VS+ clarity grade cost
$5,000 per carat .Today, that same stone goes for $13,500
per carat. Tere has been a 170-percent appreciation
over the last decade, and this stone holds the highest
market value among the fancy colored diamond family.
When utilized as a long-term alternative investment,
the price appreciation of natural colored diamonds
basically speaks for itself, added Yossi Polnauer. IDEX
2.51 Carat Fancy Vivid
Yellow Diamond,
Radiant, IF
0
$30,000
$60,000
$90,000
$120,000
$150,000
0
$3,000
$6,000
$9,000
$12,000
$15,000
Fancy Intense Pink Diamond, 0.50 ct
Price per Carat
Fancy Intense Yellow Diamond, 2.00ct, VS+
Price per Carat
2003 2007 2008 2009 2010 2011 2012 2013 2003 2007 2008 2009 2010 2011 2012 2013
ABout LeiBiSh & Co
Founded in 1979, Leibish & Co. is the worlds premier online
resource for natural fancy colored diamonds. Based in Ramat
Gan, Israel, and with customers around the globe, Leibish enjoys
an unparalleled reputation for integrity and service. The company
offers a wide array of GIA-certifed natural fancy colored
diamonds, as well as a unique collection of multi-colored diamond
jewelry designed in-house. The company is proud to announce a
complete makeover of the Leibish & Co. website. It features a
comprehensive knowledge center for the Fancy Colored Diamond
industry including informative articles and investment materials,
and it also offers a direct purchasing channel for global buyers.
For more information, visit www.leibish.com
The DTC logo is a trademark used under licence from DTC
A starsh designed by natures hand. Look closely and you will
nd a whole world of excellence. Nature just grows in the most
perfect way. Eurostar is inspired by nature. Driving us to produce
the best cut diamonds on the planet.
Discover our world of excellence at www.eurostardiamond.com.
Trusted by the Worlds Most Prestigious Watch & Jewellery Brands.
Visit us at IIJS Mumbai booth 5Q092
from August 8-12, 2013.
EURO-02529-Ad-Idex-210x270-Excellence-Mumbai2013.indd 1 5/06/13 15:19
55.0 47.0 40.0 35.5 29.5 25.5 24.5 23.5 19.5 15.0 10.5
46.0 41.0 34.5 32.5 27.0 24.0 21.5 18.5 15.5 10.0 8.5
40.5 39.5 31.5 29.5 26.0 22.0 20.0 17.0 14.5 9.0 8.0
38.0 33.0 29.5 28.0 24.5 21.5 18.5 15.5 13.5 8.5 8.0
32.5 31.0 27.5 26.0 24.0 21.0 18.0 15.0 13.5 8.5 7.5
29.0 25.5 25.0 23.0 21.0 19.5 16.5 14.5 13.5 8.0 7.5
24.0 22.0 20.5 19.0 17.5 17.0 16.0 14.0 12.5 8.0 6.5
20.5 20.0 18.5 17.0 16.0 15.5 14.5 13.0 9.5 7.5 6.0
19.5 17.5 17.0 16.0 15.5 15.0 12.0 11.5 9.0 6.5 5.5
17.5 16.5 15.5 15.0 14.0 13.0 11.5 10.0 8.0 6.5 5.0
16.0 15.5 14.0 13.5 12.5 11.0 10.5 9.5 8.0 6.5 5.0
ROUNDS 0.40-0.44
ROUNDS 0.80-0.89 ROUNDS 0.70-0.79
105.5 81.0 71.0 63.5 59.5 48.0 41.0 36.0 31.5 22.5 14.5
82.5 70.5 63.0 59.0 53.5 46.0 38.5 34.5 28.0 21.0 14.0
68.5 63.0 58.0 56.5 49.5 45.0 37.5 34.0 27.5 20.5 13.5
64.0 59.5 55.5 49.0 44.5 40.0 34.5 31.5 26.5 20.5 13.0
56.5 54.0 49.0 44.5 42.0 38.0 33.0 30.0 24.5 18.0 11.0
46.0 43.5 42.0 40.5 37.5 33.5 27.5 25.5 21.0 13.5 9.5
34.0 33.0 31.5 30.5 28.5 27.0 24.5 23.5 19.0 11.5 9.0
29.0 26.5 25.5 24.0 22.5 20.5 19.0 18.5 15.5 10.5 8.0
28.0 25.0 23.0 21.5 21.0 20.0 17.5 17.0 15.0 10.0 8.0
25.5 24.5 22.5 21.0 20.5 19.5 16.5 16.0 13.5 9.5 8.0
24.0 23.5 22.0 20.5 20.0 19.0 16.0 14.0 11.0 8.5 7.0
120.0 95.5 79.0 73.0 67.5 54.0 43.5 39.0 33.5 24.5 15.0
97.5 81.0 71.0 65.0 59.5 50.0 41.5 36.5 31.5 22.5 14.5
81.5 76.5 64.0 63.0 55.5 49.0 40.5 36.0 30.0 22.0 14.0
69.0 66.0 60.0 55.0 49.0 44.0 38.0 32.5 28.0 20.5 13.5
61.0 59.0 54.0 50.0 45.0 41.0 35.5 32.0 25.0 18.0 11.5
51.0 49.0 46.0 43.5 41.0 35.5 31.5 28.5 21.5 14.0 10.0
39.5 37.5 37.0 33.0 32.0 29.0 28.0 25.5 20.0 12.0 9.0
33.0 30.0 28.5 25.5 25.0 23.0 20.5 19.5 16.0 11.0 8.0
32.0 27.5 26.0 23.0 21.5 20.5 19.0 18.5 15.0 10.5 8.0
31.5 27.0 24.5 22.0 21.0 20.0 17.5 17.0 14.0 9.5 8.0
28.5 25.5 22.5 21.0 20.5 19.5 16.5 14.5 11.5 8.5 8.0
ROUNDS
IDEX DIAMOND PRICE REPORT
IDEX analysis of asking prices f or higher-quality di amonds in the international wholesale markets
In hundreds of USD per carat I Updated weekly I www.idexonline.com/prices I email: prices@idexonline.com I Page 1/2
Prices of actual transactions may vary significantly from this report. Prices are affected by various factors including but not limited to diamond quality, certification & geography.
IDEX does not guarantee the accuracy nor the validity of this information. Copyright 2011 by IDEX Online, S.A. All rights reserved.
20-JUN-2013
33.0 25.5 24.5 20.0 18.5 16.5 13.5 10.5 9.0 7.5 6.0
22.5 22.0 21.5 19.5 18.0 15.5 13.0 9.5 8.0 6.5 5.5
22.0 21.0 20.5 17.5 16.5 14.0 12.5 9.0 8.0 6.5 5.5
21.0 18.5 18.0 17.0 16.0 12.0 11.5 8.5 8.0 6.5 5.5
19.5 18.0 17.5 15.5 15.0 11.5 10.5 8.0 7.5 6.0 5.0
19.0 17.5 16.0 14.5 13.5 10.5 9.5 7.5 7.0 6.0 5.0
17.0 16.5 13.0 10.5 9.5 8.5 8.0 7.0 6.5 5.5 4.5
12.5 11.5 10.0 9.0 8.0 7.5 7.0 6.5 6.0 5.0 4.0
10.0 9.5 9.0 8.5 7.5 7.0 6.5 6.0 5.0 4.0 3.5
9.5 9.0 8.5 8.0 7.0 6.5 6.0 5.5 4.5 3.5 2.5
8.5 8.0 7.5 7.0 6.5 6.0 5.5 5.0 4.0 3.5 2.5
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IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
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35.0 27.0 25.0 21.5 20.0 18.0 15.5 11.0 10.0 8.5 7.0
26.0 23.5 23.0 20.5 19.5 16.0 14.0 10.5 9.5 8.0 6.0
25.0 23.0 22.5 20.0 19.0 15.5 13.5 10.0 8.0 7.5 6.0
23.0 21.5 20.5 19.5 18.0 14.5 13.0 9.5 8.0 7.5 6.0
21.0 19.5 19.0 18.0 17.0 14.0 11.0 9.0 8.0 7.0 5.5
20.0 19.0 17.0 16.5 14.5 12.5 10.5 8.5 8.0 7.0 5.5
19.5 17.5 14.0 12.0 11.0 10.0 9.0 8.0 7.5 6.5 5.0
14.5 12.5 11.0 10.0 9.0 8.5 8.0 7.5 7.0 6.0 4.5
11.5 10.5 9.5 9.0 8.5 8.0 7.5 7.0 6.0 5.0 4.0
11.0 10.0 9.0 8.5 8.0 7.5 7.0 6.5 5.0 4.0 3.0
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20-Jun-13
Increases are shown in green, decreases in red.
80.5 60.5 52.5 47.5 42.0 34.0 29.0 27.0 22.5 21.0 14.0
58.5 53.0 48.0 45.0 38.5 31.5 26.0 24.5 21.5 19.0 12.5
53.0 49.5 45.0 42.5 37.5 29.5 25.0 23.5 20.5 18.0 12.0
52.0 44.0 42.5 39.5 34.0 27.5 24.0 22.5 19.0 15.0 10.5
45.0 41.0 38.5 35.0 31.5 27.0 23.0 21.5 18.0 13.5 9.5
37.5 36.0 33.0 30.5 27.0 23.0 20.0 18.5 15.0 11.0 8.5
30.0 29.0 27.0 25.0 22.0 20.0 18.5 17.5 14.0 9.5 8.0
26.0 23.5 21.5 19.5 19.0 17.5 16.5 16.0 13.5 9.5 8.0
23.0 22.0 19.5 19.0 18.5 17.0 16.0 14.5 12.0 8.0 6.5
22.5 21.5 19.0 18.5 18.0 16.0 15.5 14.0 11.0 8.0 6.5
22.0 21.0 18.5 18.0 17.5 15.5 14.5 12.5 8.5 8.0 6.5
38.5 30.5 26.5 24.0 22.5 19.5 17.5 15.0 14.0 11.0 8.0
32.0 29.0 25.0 22.0 20.5 18.0 17.0 14.5 14.0 9.0 7.5
28.5 26.5 23.0 21.0 20.0 17.5 16.5 14.0 13.0 9.0 6.5
27.0 24.0 21.5 20.5 19.0 17.0 16.0 13.0 12.0 8.5 6.5
23.5 21.5 19.5 19.0 18.5 16.5 15.5 12.5 11.5 8.0 6.5
20.5 19.5 18.0 17.0 16.5 15.5 14.5 12.0 10.0 8.0 6.0
20.0 18.0 16.5 15.5 14.5 13.5 13.0 11.5 9.0 7.0 5.5
16.0 15.5 14.5 14.0 13.5 12.5 11.5 10.5 8.0 6.5 5.0
15.0 14.0 13.5 13.0 12.0 11.0 9.5 8.5 7.5 6.0 4.5
13.0 12.5 12.0 11.5 11.0 10.0 8.5 7.0 6.0 4.5 3.5
12.5 12.0 11.5 11.0 10.5 7.5 6.5 6.0 5.0 4.0 3.0
43.0 37.0 32.0 31.0 26.0 22.0 20.5 19.0 15.5 12.0 9.0
36.5 34.0 31.0 28.0 24.5 21.0 19.5 16.5 14.5 9.0 8.5
35.0 33.0 30.0 26.0 24.0 20.0 18.5 15.5 14.0 9.0 8.0
32.5 29.5 28.0 24.0 23.0 19.5 18.0 15.0 13.5 8.5 7.5
27.5 26.5 25.0 23.5 21.0 19.0 17.0 14.5 13.0 8.5 7.5
24.5 22.5 21.5 21.0 19.0 18.0 15.5 13.0 12.0 8.0 7.5
21.0 20.5 19.0 18.0 16.0 15.0 13.5 12.0 10.0 7.5 6.0
19.5 18.5 17.5 16.0 15.5 14.5 12.5 11.0 9.0 7.0 5.5
19.0 17.0 16.5 15.5 14.0 12.5 11.0 9.0 8.0 6.0 5.0
16.5 16.0 15.0 14.5 13.5 11.5 9.5 7.5 6.5 5.0 4.0
14.5 14.0 13.5 12.5 12.0 10.5 9.0 7.0 6.5 5.0 4.0
ROUNDS 3.00-3.99
ROUNDS 1.50-1.99
ROUNDS 1.00-1.24
20-Jun-13
1628 1217 907 674 500 333 230 127 99 57 29
1310 956 767 619 456 302 211 110 89 49 23
996 759 697 558 433 296 202 107 87 45 22
756 530 490 454 404 276 188 106 86 42 20
574 411 389 364 306 224 176 97 77 40 20
436 338 324 296 268 203 142 89 71 39 20
334 288 264 233 226 182 130 81 64 37 19
246 216 211 185 166 125 113 72 58 30 19
187 160 140 132 120 113 91 64 53 29 19
145 120 109 101 96 87 73 58 46 29 18
111 102 92 76 63 60 56 50 41 28 18
1438 1145 852 633 469 306 205 113 94 52 26
1262 890 622 556 448 258 194 107 87 48 22
940 610 524 489 404 246 182 106 85 44 21
714 474 443 385 333 221 173 105 80 41 20
542 377 351 320 270 200 156 95 73 40 20
412 267 255 226 191 162 126 87 65 39 20
323 225 198 178 170 133 109 79 59 37 19
199 189 167 155 126 113 91 70 54 27 19
171 154 131 120 107 86 71 58 44 24 19
136 116 99 92 86 75 61 52 39 24 17
101 91 81 69 57 52 49 46 34 23 16
ROUNDS 2.00-2.99
534 411 362 318 213 167 122 90 73 44 22
385 332 292 253 195 151 114 86 66 40 19
309 280 251 221 183 142 109 85 58 35 16
239 219 204 173 155 129 104 81 56 29 16
191 180 166 156 135 119 99 78 51 26 16
148 140 134 118 110 100 87 72 51 25 15
116 110 105 95 88 82 72 64 50 23 15
102 100 93 88 81 73 62 58 41 19 15
81 77 75 68 63 55 49 43 32 16 14
69 67 64 60 53 45 41 35 26 16 14
65 63 62 57 47 42 36 29 25 16 13
287 212 176 142 123 89 74 66 52 34 18
201 183 146 129 110 84 71 64 48 29 16
160 144 119 115 94 81 68 60 45 27 16
127 117 112 94 87 76 65 57 44 27 16
102 98 88 85 77 71 64 54 44 24 15
86 81 74 71 68 64 59 53 39 20 15
72 69 66 62 59 53 51 48 34 17 14
60 56 55 53 52 46 40 35 29 16 14
51 48 47 46 43 39 35 33 27 16 14
48 44 40 38 35 32 30 28 24 16 14
47 42 38 37 28 27 25 23 20 16 13
20-Jun-13 ROUNDS 0.90-0.99
ROUNDS
IDEX analysis of asking prices for higher-quality diamonds in the international wholesale markets
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20-Jun-13
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ROUNDS 1.25-1.49 20-Jun-13
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20-Jun-13
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ROUNDS 4.00-4.99 20-Jun-13
D
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20-Jun-13
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20-Jun-13
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ROUNDS 5.00-5.99
20-JUN-2013
1027 725 625 510 370 242 184 107 88 51 25
667 604 496 435 333 228 173 106 85 48 22
549 507 390 350 317 205 154 100 80 44 21
428 365 339 297 255 173 136 98 71 40 20
317 284 270 244 195 161 127 94 70 38 20
230 215 211 190 166 126 114 86 63 36 19
191 184 169 154 137 113 95 78 56 31 18
152 145 138 126 112 95 79 69 49 23 17
115 109 102 95 90 67 57 54 40 22 17
95 91 87 76 70 56 49 42 34 21 17
78 72 64 59 49 47 41 38 31 21 16
340 255 214 186 151 116 88 76 62 39 21
233 207 181 166 137 109 85 74 57 38 19
198 179 160 143 123 107 81 73 56 33 16
156 149 134 124 113 100 77 68 55 29 16
125 118 111 105 100 89 73 64 50 26 16
107 100 93 91 84 77 66 58 45 21 15
87 83 80 76 70 61 56 52 42 20 15
71 68 67 63 56 52 45 39 31 16 15
59 54 52 51 49 44 38 34 27 16 14
52 48 47 43 39 35 33 32 24 16 14
49 47 46 42 35 32 30 28 23 16 13
153 127 107 86 74 68 57 50 40 27 16
127 118 94 78 69 62 53 47 37 24 16
115 104 86 73 68 60 51 45 37 24 15
98 88 70 67 63 56 49 44 36 23 15
81 78 67 60 57 53 45 41 27 19 14
66 59 58 53 50 47 41 37 25 16 12
59 54 49 47 43 39 35 33 21 15 11
40 39 38 36 35 31 30 29 19 14 10
35 34 33 31 30 27 26 25 16 12 10
33 32 31 30 25 24 23 20 16 12 10
32 26 25 24 22 21 19 18 14 11 9
253 188 161 129 110 81 65 62 49 33 18
179 156 130 111 96 75 63 56 47 28 16
143 131 110 107 87 74 62 55 45 27 16
115 108 102 90 82 71 59 54 44 27 16
96 91 86 79 73 65 56 50 41 24 15
81 76 71 67 63 58 50 48 38 20 15
67 66 63 58 55 50 46 42 33 16 14
57 55 54 51 49 43 39 34 29 16 14
47 46 45 44 42 37 34 32 27 16 13
44 43 38 37 34 31 28 27 24 16 12
43 41 37 36 27 26 24 21 18 15 12
THE RIGHT DIAMOND, OF THE PRECISE
QUALITY, WITH THE PERFECT FINISH AND
IN THE EXACT QUANTITY THIS IS OUR
PROMISE, EVERY TIME.
COMPLETE
COLLECTION.
Comprehensive and consistent production
of the highest quality diamonds in an array
of styles enables a awless service,
inspiring trust in our customers.
From the largest international brands to the
smallest specialist jeweller, Rosy Blue can present
a portfolio of polished diamonds to accommodate
any order, anywhere in the world. And beyond our
customary ranges, our designers will devise
new cuts to meet any vision.
THE DTC SIGHTHOLDER LOGO IS A TRADE MARK
USED UNDER LICENCE FROM THE DE BEERS GROUP
WWW. ROSYBLUE . COM
46.5 30.5 28.0 25.0 23.0 20.0 17.0 16.0 13.0 10.5 8.0
36.0 28.0 24.5 23.5 21.0 19.0 16.0 13.5 11.5 9.0 7.5
30.0 25.0 22.5 21.0 20.5 15.5 14.5 13.0 11.5 8.0 6.5
26.5 22.5 20.0 19.5 18.5 14.0 13.5 11.0 10.5 7.0 6.0
23.0 21.0 18.5 17.0 15.5 13.5 12.0 10.0 9.5 7.0 5.5
22.0 19.5 16.0 15.0 13.5 12.5 11.5 9.5 8.0 6.5 5.5
16.5 15.0 14.0 13.0 12.0 11.5 10.5 9.0 7.5 5.5 4.5
14.0 13.5 12.5 11.5 11.0 10.0 9.5 8.0 7.5 5.0 4.0
12.5 12.0 11.0 10.0 9.0 8.5 8.0 7.5 5.5 4.5 3.5
12.0 11.0 10.0 9.0 8.5 8.0 7.5 6.5 5.5 4.5 3.5
11.0 10.0 9.0 8.5 8.0 7.0 6.5 6.0 5.0 4.5 3.5
FANCIES 0.40-0.44
FANCIES 0.80-0.89 FANCIES 0.70-0.79
71.0 63.5 54.0 50.0 45.0 40.0 33.0 29.5 26.0 18.0 12.0
55.5 52.5 50.0 47.0 41.5 37.0 31.5 28.0 23.5 17.5 11.0
54.5 47.5 45.0 44.0 39.5 35.5 30.0 25.0 23.5 16.5 10.0
48.5 44.0 40.0 39.5 37.5 33.0 28.5 24.0 23.0 14.5 9.5
45.0 40.0 37.5 35.0 34.0 32.5 27.5 23.0 20.5 13.0 8.0
40.0 34.0 31.5 30.0 28.5 28.0 25.0 19.5 18.5 12.0 7.0
28.5 27.0 23.0 22.5 22.0 21.5 20.0 15.5 13.5 7.5 5.5
21.5 20.0 19.5 19.0 17.0 16.5 15.5 13.5 11.0 6.5 4.5
19.5 15.5 14.0 13.5 12.0 11.5 11.0 10.5 8.0 6.0 4.5
18.5 15.0 13.5 12.0 10.5 10.0 9.0 8.0 7.5 5.5 4.0
16.0 13.5 12.5 11.0 10.0 9.0 8.0 7.0 5.5 4.5 3.5
77.5 67.5 59.0 55.0 50.5 43.5 34.5 32.5 31.0 21.5 13.0
62.0 55.5 53.5 51.5 45.0 41.5 33.0 30.0 28.5 20.5 12.0
56.5 52.5 50.0 49.0 44.5 41.0 32.5 29.5 28.0 19.0 11.0
52.5 48.5 45.0 42.0 40.5 36.5 32.0 28.0 26.5 17.5 11.0
46.0 43.0 41.0 38.5 37.5 33.0 29.0 25.0 24.0 15.5 9.5
41.5 35.0 34.0 32.5 32.0 30.5 26.0 21.5 20.5 13.5 8.0
31.5 29.5 28.0 27.5 25.0 24.0 22.5 16.5 14.5 8.0 6.0
23.0 22.5 20.5 19.5 19.0 18.0 17.0 15.5 11.0 7.0 5.0
20.0 17.5 15.5 15.0 14.0 13.5 13.0 12.5 10.5 6.5 4.5
19.0 17.0 15.0 14.0 12.0 11.0 10.5 9.5 8.0 5.5 4.5
17.0 14.5 13.5 11.5 10.5 9.5 8.5 7.5 6.5 5.0 4.0
FANCIES
IDEX analysis of asking prices f or higher-quality di amonds in the international wholesale markets
20-JUN-2013
18.0 17.0 15.0 13.5 12.0 10.5 8.0 7.0 6.0 5.0 4.0
14.5 14.0 13.5 11.0 10.5 8.0 7.5 6.0 5.5 4.5 3.5
12.0 10.5 10.0 9.5 8.5 7.5 7.0 5.5 5.5 4.5 3.5
11.0 10.0 9.5 9.0 8.0 7.0 6.0 5.0 5.0 4.0 3.5
10.5 9.5 9.0 8.5 7.5 6.0 5.5 4.5 4.5 3.5 3.0
10.0 9.0 8.5 8.0 7.0 5.5 5.0 4.0 4.0 3.5 3.0
9.5 8.5 7.5 6.0 5.5 4.5 4.0 3.5 3.5 3.0 2.5
7.0 6.0 5.5 5.0 4.5 4.0 3.5 3.0 3.0 3.0 2.5
5.5 5.0 4.5 4.0 3.5 3.0 2.5 2.0 2.0 2.0 2.0
5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.5 1.5 1.5
4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 1.0 1.0 1.0
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FANCIES 0.18-0.22 20-Jun-13
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FANCIES 0.45-0.49 20-Jun-13
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20-Jun-13
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FANCIES 0.30-0.39 20-Jun-13
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20-Jun-13
22-Sep-11
21.0 19.5 19.0 17.0 15.0 12.5 11.5 9.0 8.0 6.0 5.0
19.5 19.0 18.5 15.5 14.5 11.5 10.5 7.5 7.5 5.5 4.0
17.5 17.0 16.5 14.5 14.0 11.0 10.0 7.0 7.0 5.0 4.0
17.0 15.0 14.5 13.5 12.5 10.5 9.5 6.5 6.5 5.0 4.0
15.5 14.5 14.0 13.0 11.5 10.0 8.5 6.0 6.0 5.0 3.5
14.0 13.5 13.0 11.5 9.0 8.5 8.0 5.5 5.5 4.5 3.5
13.0 11.0 10.0 8.0 7.5 7.0 6.5 5.0 5.0 4.0 3.5
10.0 9.0 8.0 7.5 6.5 6.0 5.5 4.5 4.5 4.0 3.0
8.0 7.5 7.0 6.0 5.5 5.0 4.5 4.0 4.0 3.5 2.5
7.0 6.5 6.0 5.5 5.0 4.5 4.0 3.5 3.5 2.5 2.0
6.5 6.0 5.5 5.0 4.5 4.0 3.5 3.0 3.0 2.5 1.5
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FANCIES 0.23-0.29 20-Jun-13
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FANCIES 0.50-0.69 20-Jun-13
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20-Jun-13
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56.5 42.5 35.0 32.5 30.0 26.0 22.5 19.5 18.0 13.0 8.5
45.0 34.0 31.0 27.0 26.5 22.5 21.5 18.5 17.5 12.0 7.5
36.0 30.0 28.5 26.0 24.5 22.0 20.0 18.0 17.5 11.5 6.5
31.0 28.0 26.0 24.5 23.5 21.0 19.5 17.0 15.5 11.0 6.5
29.0 25.0 24.5 23.5 22.5 20.0 19.0 16.0 15.5 10.5 6.5
25.0 22.5 22.0 20.5 19.5 18.5 17.5 15.5 13.5 8.0 6.0
20.5 18.0 17.5 17.0 16.5 16.0 15.0 13.5 11.5 7.0 5.5
16.5 15.0 14.5 13.5 13.0 12.5 12.0 11.0 10.0 6.0 4.5
14.0 12.5 12.0 10.5 10.0 9.5 9.0 8.0 6.0 4.5 4.0
13.5 12.0 10.5 10.0 9.0 8.5 8.0 7.5 5.5 4.5 3.5
12.5 10.5 10.0 9.5 8.5 7.5 7.0 6.5 5.0 4.5 3.5
27.5 24.5 21.5 19.5 17.5 15.5 15.0 12.5 11.0 8.0 5.5
25.0 22.5 20.0 17.5 16.5 15.0 13.0 11.0 10.5 7.0 5.0
22.5 19.5 17.5 16.5 16.0 13.5 12.5 10.0 9.0 6.5 4.5
18.0 17.5 17.0 15.5 15.0 13.0 12.0 9.5 9.0 5.5 4.0
17.0 15.5 15.0 14.5 14.0 12.5 10.5 8.5 7.5 5.5 4.0
16.0 14.0 13.5 13.0 12.0 11.5 10.0 7.5 7.0 5.0 4.0
13.5 11.5 10.5 10.0 9.0 8.0 7.5 7.0 6.0 4.5 3.5
10.5 9.5 9.0 8.5 8.0 6.5 6.0 5.5 4.5 4.0 3.0
8.5 8.0 7.5 7.0 6.5 5.5 5.0 4.5 4.5 3.5 3.0
7.5 7.0 6.5 6.0 5.5 5.0 4.5 4.0 3.5 3.0 2.0
7.0 6.5 6.0 5.5 5.0 4.5 4.0 3.5 3.5 3.0 1.5
31.5 28.5 25.5 24.5 22.5 18.5 15.5 13.5 12.5 10.0 7.0
29.5 26.0 22.5 22.0 20.0 18.0 15.0 13.0 11.0 8.0 6.5
28.5 24.0 21.5 20.5 19.0 15.0 13.5 12.5 10.5 8.0 6.0
24.0 21.5 19.5 19.0 18.0 13.5 13.0 10.5 9.0 7.0 5.0
21.0 19.0 18.0 16.5 15.0 13.0 11.5 9.5 8.5 6.5 5.0
19.0 18.0 15.0 14.5 13.0 12.0 10.5 9.0 8.0 6.5 5.0
15.0 13.0 12.0 11.5 10.5 10.0 9.5 8.0 7.0 5.5 4.0
12.5 12.0 11.0 10.5 10.0 9.5 8.5 7.0 6.0 4.5 3.5
11.5 11.0 10.0 9.0 8.5 8.0 7.5 6.0 5.0 4.0 3.0
11.0 10.0 9.0 8.5 8.0 7.5 6.0 4.5 4.0 3.0 2.5
9.5 9.0 8.5 8.0 7.5 6.5 5.5 4.0 4.0 3.0 2.5
FANCIES 3.00-3.99
FANCIES 1.50-1.99
FANCIES 1.00-1.24
20-Jun-13
1004 886 726 605 490 316 245 126 102 57 29
876 743 620 511 452 276 167 84 68 37 21
707 579 518 475 392 236 157 81 66 32 16
574 444 397 371 291 213 149 74 60 30 15
401 358 323 296 246 190 127 66 53 28 14
314 277 254 217 201 166 121 64 48 27 14
248 219 178 175 158 142 107 63 40 25 13
178 146 128 127 122 93 76 49 31 20 13
127 104 84 82 74 70 54 36 24 20 13
94 74 66 62 54 53 41 28 24 20 12
67 62 56 47 36 35 32 27 24 19 11
820 692 567 512 398 215 143 86 67 39 21
788 606 480 382 332 194 137 77 63 34 17
507 488 408 345 298 192 109 75 56 30 14
366 343 302 287 260 184 102 70 53 27 13
262 246 245 244 206 160 101 64 50 26 13
160 159 158 157 153 124 96 61 45 22 12
141 136 133 126 115 106 75 55 38 20 12
88 87 86 85 84 83 65 46 30 19 11
72 69 68 67 66 59 51 34 23 16 11
58 56 55 54 52 48 40 26 23 16 11
43 41 39 37 34 33 31 25 23 16 10
FANCIES 2.00-2.99
365 275 247 209 164 129 93 63 49 29 19
266 227 190 178 144 125 92 62 48 28 15
222 203 168 157 136 120 87 59 45 25 12
177 171 155 134 125 104 86 58 45 24 11
138 118 113 109 103 90 79 56 45 22 11
102 96 94 87 83 79 71 52 38 21 11
87 78 77 72 67 62 58 44 33 19 10
67 62 61 55 54 53 50 38 29 16 10
54 50 48 41 39 36 35 30 22 15 10
47 46 41 37 35 27 25 24 18 14 10
39 38 36 33 27 25 22 19 17 13 9
190 145 116 100 83 69 61 49 43 28 16
137 130 100 85 78 68 59 48 38 25 15
127 102 82 81 75 67 58 47 37 22 12
99 84 79 78 73 65 57 45 33 20 11
79 69 62 61 60 58 52 38 31 20 10
67 57 56 55 52 50 45 37 28 16 10
53 46 45 44 43 42 40 34 26 14 10
42 39 36 35 34 33 30 28 22 14 9
36 32 30 28 27 26 24 23 17 14 9
32 31 26 24 23 21 16 15 15 12 9
29 27 24 23 19 18 15 12 10 10 8
20-Jun-13 FANCIES 0.90-0.99
FANCIES
IDEX analysis of asking prices for higher-quality diamonds in the international wholesale markets
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20-Jun-13
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FANCIES 1.25-1.49 20-Jun-13
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20-Jun-13
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FANCIES 4.00-4.99 20-Jun-13
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20-Jun-13
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J
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N
20-Jun-13
D
E
F
G
H
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FANCIES 5.00-5.99
20-JUN-2013
699 439 400 320 249 184 125 79 66 36 19
586 373 342 293 231 158 105 71 58 32 16
368 326 271 252 210 152 102 70 51 28 13
292 266 261 214 188 117 101 69 49 25 13
230 218 203 174 144 110 89 59 47 23 12
153 152 149 138 122 100 77 56 39 21 12
131 102 101 100 91 76 66 51 36 20 11
84 83 82 81 73 63 56 43 30 18 10
62 61 58 55 54 46 38 33 23 16 10
52 50 48 45 44 37 33 25 23 14 10
42 40 38 35 30 28 26 24 20 13 9
244 190 156 130 110 93 72 56 45 29 18
179 161 141 118 105 89 71 53 40 25 15
158 130 125 103 97 84 70 52 38 22 12
121 112 100 97 85 78 66 51 37 20 11
102 90 85 81 76 71 63 45 34 20 11
84 75 73 68 64 60 56 41 33 18 10
68 63 58 57 54 52 48 40 28 15 10
54 48 45 42 41 40 39 31 27 14 10
44 37 36 31 30 29 26 24 20 14 10
36 35 33 28 25 24 21 20 18 13 10
32 31 29 26 20 19 18 17 15 13 9
114 80 76 70 56 50 42 39 35 24 13
91 72 67 61 53 46 37 35 33 22 12
85 70 62 56 51 45 36 33 31 19 11
58 57 50 49 48 44 35 32 30 18 11
48 45 44 43 42 41 34 31 29 16 10
47 44 43 38 37 36 33 28 26 15 9
33 32 29 28 27 26 25 23 21 13 8
28 26 25 24 23 22 21 19 16 10 8
26 21 20 19 18 16 15 14 13 9 6
21 19 18 16 14 13 12 11 10 8 6
20 15 14 12 11 10 9 8 8 5 4
176 130 110 89 74 61 49 42 37 25 15
127 110 94 78 71 60 48 39 35 23 14
108 99 81 74 70 59 47 37 33 20 12
82 79 73 69 62 54 46 36 32 20 11
75 64 59 57 54 50 43 33 31 19 10
61 52 50 49 47 43 38 31 28 16 10
45 44 43 42 38 37 35 29 26 13 10
37 36 35 34 33 30 27 25 18 13 9
30 29 28 27 26 25 23 20 16 13 9
23 21 20 19 18 17 15 14 14 11 8
22 20 19 18 17 15 14 11 10 9 8
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POLI SHED
Polished Diamond Prices:
Up 0.2% in May
by Edahn Golan
rices of polished diamonds edged
up slightly in May, according to the
IDEX Online Polished Diamond Index.
Te Index averaged 133.3 during the
month, a 0.2 percent month-over-
month increase.
High inventory levels in the trading centers which
tend to result in declining prices and anticipation
of good demand at the JCK Las Vegas Show which
pushed prices up balanced wholesalers asking
prices. Demand met expectations and buyers largely
accepted wholesalers prices at the show, which
concluded on June 3.
Price Trends
The Index increased by 0.2 percent in May
compared to April. This was only the second time
in 2013 that overall average polished diamond
prices have increased. The previous occasion was
in March when prices increased 1.8 percent on a
month-over-month basis.
Compared to May 2012, the IDEX Online Polished
Diamond Index declined by 4.5 percent. Tis marks
the 11th consecutive month that the Index has
declined year-over-year.
Four-carat rounds increased 2.2 percent during the
month compared to May 2012, while the rest of the
key sizes declined by 4.5-15 percent year-over-year,
which has been a year-long trend.
On a month-over-month basis, the price index
for round goods showed mixed activity. Rounds
weighing 1 carat, 1.5 carats and 5 carats increased in
price, while 0.5-, 2-, 3- and 4-carat rounds declined
month-over-month.
For the second time in a row, the price index for
princess-shaped diamonds declined on a month-
over-month basis, further signaling that the long
run of price increases is abating. Nevertheless, on a
year-over-year basis, key-size princesses increased
by a large single-digit.
150
140
130
120
2011 2012 2013
A M M J J S O N D A A M J J S O N D J F M A J F
Weighted
Average
M/M 0.5 Ct
0.2%
-1.4%
0.6% 0.6%
-0.3% -0.3%
-0.5%
1.8%
1.0 Ct 1.5 Ct 2.0 Ct 3.0 Ct 4.0 Ct 5.0 Ct
PEAK
July 2011
146.7
May 2013
133.3
2011 Avg
135.8
2012 Avg
136.8
2013 Avg to date
133.5
By Size May 2013 vs April 2013
Figure 1: IDEX Online Polished Diamond Price Index
Figure 2: Prices of Round-Shape Polished Diamonds
January 2012 May 2013
Figure 3: Index of Princess-Shape Diamond Price Trends by Size
2012 2013
A A M J J S O N D M M A J F M J F
2.0 Ct
1.5 Ct
1.0 Ct
130
120
110
P
Full Page template.indd 102 17-Oct-11 3:40:36 PM
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polished > poli shed di amond pri ces
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150
140
130
120
2011 2012 2013
Weighted
Average
M/M 0.5 Ct
0.2%
-1.4%
0.6% 0.6%
-0.3% -0.3%
-0.5%
1.8%
1.0 Ct 1.5 Ct 2.0 Ct 3.0 Ct 4.0 Ct 5.0 Ct
PEAK
July 2011
146.7
May 2013
133.3
2011 Avg
135.8
2012 Avg
136.8
2013 Avg to date
133.5
2012 2013
2.0 Ct
1.5 Ct
1.0 Ct
130
120
110
150
140
130
120
2011 2012 2013
Weighted
Average
M/M 0.5 Ct
0.2%
-1.4%
0.6% 0.6%
-0.3% -0.3%
-0.5%
1.8%
1.0 Ct 1.5 Ct 2.0 Ct 3.0 Ct 4.0 Ct 5.0 Ct
PEAK
July 2011
146.7
May 2013
133.3
2011 Avg
135.8
2012 Avg
136.8
2013 Avg to date
133.5
2012 2013
2.0 Ct
1.5 Ct
1.0 Ct
130
120
110
outlook
After months of forecasting a lackluster market in
the short term, we are now upgrading that forecast
to a cautiously optimistic one as we expect an
improvement in prices of polished diamonds in the
second half of 2013.
In the long term, we remain sure that polished diamond
prices will increase along with consumer demand
once confdence in the economy returns. IDEX
The full analysis of polished diamond prices is
available to IDEX Online Research subscribers
and IDEX Online members.
Contact research@idexonline.com for more
information on how to subscribe or to
become a member.
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a new standard in protective packaging
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|
Topaz
While having a Mohs hardness of 8, topaz splits
easily into planes perpendicular to the direction
of elongation of the crystals, showing an extremely
easy basal cleavage. Special care must be taken when
setting the stone, since the slightest shock can cause
it to fake.
POLI SHED
How to Avoid Damage to Gemstones
Part III: Topaz and Tourmaline
by Claudio Russo, Instructor, Graduate Gemologist, IGI
Courtesy: lOrafo Italiano
Chemical composition: Al2SiO4(F,OH)2 Aluminium fuorosilicate
Hardness 8
Toughness Good parallel to the axis of elongation of the crystal, weak perpendicular to it.
Reaction to heat
It should not be exposed to high temperatures as they can alter the color or cause
fractures and cleavages.
Light stability Some brown stones can fade after prolonged exposure.
Reaction to chemicals Avoid if possible; otherwise, proceed with caution.
Ultrasonic cleaning To be avoided.
Steam cleaning To be avoided.
Reaction to hot water Avoid hard brushes.
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89
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POLISHED > I GI
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TouRmaline
Te tourmaline group includes a complete mineralogical
family with a very complex chemical composition. By heating
to 450C - 650C, color changes can be produced in some
tourmalines. Some dark green tourmalines can become
emerald green; brown stones can turn pink or blue, while pink
or red ones are lightened. Otherwise, the color can be changed
after irradiation. It is possible to obtain deep pink or red, or
deep purple from colorless stones or light original colors, which
can discolor upon heating or after prolonged exposure to light.
Te same applies to the yellow, orange or green stones obtained
through irradiation. Tey do not have any hardness problems,
but avoid strong heat sources as these could afect color and
cause fractures.
Chemical composition:
Very complex. A general formula can be represented by: XY3Z6 (BO3)3Si6O18(O,
OH, F)4, where X stands for Ca, K, Na; Y stands for Al, Fe2+, Fe3+, Li,Mg, Mn2+,
and Z stands for Al, Cr3+, Fe3+
Hardness Good (7-7.5)
Toughness Fair
Reaction to heat
There can be different effects, and they usually lead to the lightening of the color.
Sudden temperature changes can cause fractures.
Light stability Generally stable, but unstable after prolonged exposure.
Reaction to chemicals Usually safe.
Ultrasonic cleaning
Risky. Sometimes a stone is treated with acid to obtain a phenomenon known as
cats eye.
Steam cleaning Risky in the event of sudden temperature changes.
Reaction to hot water
Safe with a gradual change in temperature.
Color changes and formation of fractures upon heating up to 500 C.
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89
Untitled-2 1 12-10-03 10:28 PM
Carbon Copy:
Lab-Grown
Diamonds
Carbon Copy:
Lab-Grown
Diamonds
92
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Car bon Copy: Lab- Gr own Di amonds
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93
Laboratory-grown, laboratory-created, man-made,
synthetic. The debate over the nomenclature
of non-mined diamonds is still ongoing. Its not
necessarily the name, but rather the diamonds
themselves that are the issue. They are seen as
a threat, a danger and a menace to the industry.
It seems that people and companies who are
creating and producing this non-mined alternative
are often looked upon as not quite kosher.
Tere is no doubt that when it comes to lab-grown diamonds, there is the possibility that
undisclosed stones will somehow fnd their way in the pipeline and trickle down to some
unknowing buyer who thinks he or she is getting one thing, but actually fnd themselves with
something else entirely.
Once we get past this issue, however, it could just be that there is room for both mined and
lab-grown diamonds in the pipeline.
Tis month, we look at various facets of the issue. We investigate some of the big names
producing diamonds in the industry, we examine the efect of lab-grown diamonds on the
pipeline, and we look at one surprising company that is hoping to bring lab-grown diamonds
to a completely new audience.
M A N - M A D E D I A M O N D S B Y R O Y A L A S S C H E R
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Royal Rebel
Royal Rebel
By Danielle Max
Image: Rebel Chique
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95
Royal Asscher, the Dutch di amond manufacturer, i s
one of the most i coni c compani es i n the di amond
manufacturi ng i ndustry. Wi th a hi story stretchi ng back
159 years, the company i s associ ated wi th the Asscher
cut (developed in 1902), the Cullinan diamond (the largest
i n the world) and the Dutch Royal fami ly (Queen Juli ana
of Holland granted the company i ts Royal ti tle i n 1980).
With such a provenance, it seems slightly
incongruous that the Asscher family now in its
sixth generation at the company is trumpeting
laboratory-created diamonds or what the
company refers to as man-made diamonds.
February of this year saw the introduction of Rebel
Chique Man-Made Diamonds by Royal Asscher, a
luxury jewelry brand featuring laboratory-created
diamonds. It was a process that was a few years in
the making after Mike Asscher, vice president of the
company, and his father saw a beautiful lab-created
diamond back in 2006.
In its marketing blurb, the company says it is rebelling
against the notion that diamonds are once-in-a-
lifetime heirlooms. With the introduction of the
brand, it wants to tap into a mindset that embraces
diamonds as high-end accessories that can change
from season to season.
So it comes as no surprise that the brand is seeing a lot
of demand from younger consumers, not only because
the prices are cheaper than natural diamonds after
all, one is created underground in a process lasting
millions of years, while the other is created in a few
days in a factory but also because of the wild array
of colors that can now be created in a lab.
Te brand includes rings, earrings and pendants for
women and cufinks for men that are available in
a rainbow of diamond colors including blue, pink,
green, yellow, orange and colorless.
Te diamonds are ofered in a variety of cuts including
princess, heart, radiant and in clarities from IF down
to I1.
All Rebel Chique diamonds are graded by a range of
labs, including GIA, HRD and all of the lab-grown
diamonds that the company sells are laser-inscribed
with a number and text that identifes a specifc
diamond as laboratory grown.
Walter Kraus, managing director of Rebel Chique,
stresses that the brand is fully transparent about the
origin of its diamonds, saying that their physical and
chemical characteristics are identical to the natural
Image: Rebel Chique
96
|
As Kraus points out, there are no major new
sources of diamonds on the horizon, which means
that laboratory-grown diamonds are going to
become more and more common in the diamond
industry, and the company could well just be ahead
of the curve in embracing this new opportunity.
product; only the origin of the diamonds are diferent,
making proper identifcation all the more important.
As has become accepted in the industry, the
accompanying certifcate states that the diamonds
are man-made or laboratory-grown as the source
of origin rather than giving a country of origin. Te
diamonds themselves are produced in factories in the
Netherlands, the US, Canada and Russia.
As Kraus points out, there are no major new sources
of diamonds on the horizon, which means that
laboratory-grown diamonds are going to become
more and more common in the diamond industry,
and the company could well just be ahead of the curve
in embracing this new opportunity.
And new opportunities are all around. While the
diamonds may be structurally the same as mined
diamonds, the company is positioning them diferently
and is aiming them at a separate demographic than
those targeted by Royal Asscher as evidenced
especially by its strong brand image.
We are also targeting them to an audience who are
really intrigued by them. Tey love the colors, which
were not [afordably] available to them in the past,
says Kraus.
Tere is certainly a price diference coming into play
with the Rebel Chique line, with rare items such as
blue or pink diamonds becoming more afordable.
Image: Rebel Chique

|
97
In terms of design, the cuts and the settings are fairly
traditional. To push the design aspect of the line
further, the brand is going to be holding a competition
aimed at young designers.
In the few short months that Rebel Chique has
been available, Kraus says there has been a lot of
positive feedback and publicity.
As for why more companies have not embraced
laboratory-grown diamonds, Kraus says that, in many
respects, the future of the product is up to consumers.
Often, he says, people are wary of changing the status
quo. New technologies opportunities arrive and you
have to make the decision to either embrace them or
ignore them. Royal Asscher has decided to embrace
them and asked me to assist in developing this unique
diamond product.
Tis desire to embrace technology and developments
is one of the reasons he believes the line is proving
so popular with younger people. Tey are more
tech savvy and they are able to easily understand the
process of laboratory-grown diamonds, he asserts.
As for the future, Kraus says that Rebel Chique would
like to be the premium brand using laboratory-grown
diamonds. We see a nice growth in the area.
It could be some way of, but there is a possibility that
Rebel Chique will one day grow up to lose its rebellious
past and become a highly respected member of society.
98
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Its Elementary
By Albert Robi nson
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99
Thi nk of De Beers and you usually thi nk of tens
of mi l l i ons of carats of di amonds mi ned i n vast
operati ons i n South Afri ca, Botswana, Nami bi a
and Canada. You mi ght also thi nk of a hi story of
i nvolvement i n the natural di amond sector stretchi ng
back more than a century. Thi nk of De Beers agai n
and come up wi th somethi ng enti rely di fferent not
to say very surpri si ng syntheti c di amonds.
Deep in southern England, just an hour from bustling
London, teams of researchers are working on creating
a new class of materials that could transform critical
elements of the worlds manufacturing processes.
Element Six, a Luxembourg-based company owned
by De Beers, employs several dozen people and has
been carrying out research in the feld for the past
20 years, and for most of the time under conditions
of secrecy. Te work may not seem glamorous, but
the results could be revolutionary. And in a sign of
the importance of the synthetic diamond unit to
De Beers, last year its group chief executive ofcer,
Philippe Mellier, was appointed its chairman.
Te researchers are working on strange materials
using synthetic diamonds that have not been made
by the traditional means of subjecting carbon to
huge forces in industrial presses but by growing
atoms one at a time inside specially-created chemical
reactors heated to about 1,000 degrees centigrade.
Te uses for these types of diamonds include novel
semiconductors and sensors and special optical
windows to allow high-power lasers to perform more
efciently in industries such as car manufacturing.
Indeed, some experts say the Element Six team is
able to produce materials in a way that is almost
impossible for any other company in the world.
Te teams work is reinforced by its links with top
technologists in British industry and universities, which
enables it to receive top-level support and input on the
research side, while also obtaining real-time and real-
life results regarding the products in manufacturing.
But the company is not just working with top British
scientists; it is also working in partnership with
academics from prestigious overseas universities and
institutes such as Harvard University, the California
Institute of Technology and the Max-Planck-Institut
fr Quantenoptik in Germany.
Element Six is the worlds largest producer of
synthetic diamonds where the main applications
are for making tough and hard drilling and
cutting tools for use in oil and gas exploration and
machining metals. Its annual sales are around
$800 million, with nearly all of this coming from
diamonds made by the five-decade old high
pressure high temperature (HPHT) method. Its
manufacturing plants are in China, Germany, South
Africa and the US, among others.
A relatively small part of the revenue comes from
diamonds made by the newer carbon growth method
with most of this coming from its plant in Ascot,
near London. Based on chemical vapor deposition
methods, the frm is able make larger synthetic
100
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The chemistry behind the carbon growth
technique is so advanced that only a handful of
businesses and research groups around the
world have been able to successfully master it.

|
101
102
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diamonds whose properties can be more accurately
specifed than with the older HPHT technology.
Cyrus Jilla, CEO of Element Six until the start of the
year, said that sales of $100 million annually from this
part of its business would be achievable within the
next three to seven years. Element Six has invested
at least $32 million into its UK carbon growing
operations in recent years and plans to invest $50
million in the technology over the next fve years.
It is also opening a new $30 million research center
near Oxford.
Te chemistry behind the carbon growth technique
is so advanced that only a handful of businesses and
research groups around the world have been able to
successfully master it.
Steve Kelley, chief executive of Scio Diamond Technology
Corporation of the US, which makes diamonds for
applications such as drilling using a form of the carbon
growth process, admits that Element Six has a broader
range of uses for its material, but disputes that the
company has a technical lead on everyone else. To my
mind, we have the most cost-efective technology [ for
making diamond by the carbon-growth route], he said
in comments to the Financial Times.
Meanwhile, Rob Galloway, chief executive of US
Synthetic, another American company that is a
pioneer in the industry, but only uses the high pressure
process, says Element Six appears to have achieved
[a] signifcant milestone in a range of applications.
Our sense is that no other company has put more
time and resources into [carbon growth] development
than Element Six, he said.
In February, Element Six announced it was expanding
its high volume manufacturing capabilities of
synthetic diamond optical windows at its Silicon
Valley facility. Te optical windows are a critical
component of Laser Produced Plasma (LLP) Extreme
Ultraviolet (EUV) lithography systems used in a range
of screens in consumer products.
Reaching a new milestone in Chemical Vapor
Deposition synthesis and processing, Element Six has
increased its total production capacity of synthetic
diamond wafers by 50 percent at its U.S. plant,
further scaling the companys worldwide operations
to deliver large volumes of optical windows to meet
growing market demand.
EUV lithography represents a major technological
advancement for next-generation semiconductor
manufacturing for both logic and memory devices,
said Adrian Wilson, head of technologies at Element Six.
We believe Element Sixs synthetic diamond optical
windows are an accessible alternative to traditional
optical materials, and the only commercially viable
material to support LLP EUV lithography-reducing
system downtime and improving wafer throughput.
Synthetic diamond is the only material that can
withstand the power levels necessary for high-
throughput EUV processing, thereby increasing the
productivity and cost-efciency of the systems. Te
company said its patented CVD synthetic diamond
ofers the broadest optical transmission spectrum,
and highest known thermal conductivity and
resistance to thermal shock-critical properties for
high-demanding applications such as EUV.
Te company is also advancing its business
through other means. Last December, Element Six
acquired MegaDiamonds cutting tool business
from Schlumberger, which will be fully integrated
into the company. Te frm said the acquisition is
a demonstration of Element Sixs authority in the
industrial use of synthetic diamond supermaterials.
Tere is a growing demand for more advanced
precision tooling and materials as the global
aerospace and automotive markets increasingly
adopt hard-to-machine materials, such as carbon-
fber-reinforced plastics, the frm explains. Te
MegaDiamond cutting tool business acquisition
enables Element Six to continue to meet this demand
Some experts say the Element Six team is able
to produce materials in a way that is almost
impossible for any other company in the world.

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103
by expanding its capabilities and product portfolio
through proprietary aerospace and automotive
application-ready products and technology, it added.
Needless to say, Element Six carries out extensive work
in the creation of gem-quality diamonds, although
the frm is reluctant to admit this. Tis can be seen
from the patent applications that it has made in the
past few years. One patent fled would transform a
synthetic gem diamond into a fancy orange color by
using a combination of irradiation and annealing at
temperatures between 700-900C for between two
and eight hours. As the patent application says, the
fancy orange-colored diamond material produced
may be used as gemstones.
Another patent would turn synthetic diamonds into
fancy pale blue diamonds or fancy pale blue-green
diamonds. A further patent relating to enhancement
methods is not only applicable to synthetic materials,
but also to natural diamonds including diamond
materials whose color falls only within the GIA scales
from D-Z and fancy diamonds whose color may be
outside the GIA scales.
While De Beers is careful to describe its research on
gem-quality synthetic diamonds as being conducted
to invent detection instrumentation aimed at
protecting the industry rather than being in the
business of new product development many analysts
have long suspected that the opposite is the case.
Indeed, some believe that De Beers will become the
largest, most sophisticated and advanced marketing
company of CVD diamonds in the world.
Why would such a large company with an interest
in so many diferent areas of the diamond business
invest so many millions of dollars in the synthetics
business, and a wide range of expensive and time-
consuming patent applications if it did not have plans
to produce synthetic diamonds?
It seems to be clear that its aim is to be able to supply
demand for natural diamonds, but to control prices
by holding back supply. By working in a way that
pushes up prices, it can then supply a diferent market
one that also wants diamond jewelry, but at prices
it can aford. Although this is certainly a sophisticated
strategy, it might also cause a degree of ill-will in the
market. After all, De Beers is still regarded as the frst
and last word in diamonds. Tat would be natural,
mined diamonds, not the kind created in a laboratory
or factory.
Image: Element Six
104
|
Are
Lab-Made
Diamonds Good for
the
Environment?
Are
Lab-Grown
Diamonds Good for
the Environment?
By Albert Robi nson
|
105
Long known for i ts extraordi nary work ethi c and
for bei ng a stopover poi nt for travelers headi ng to
Australi a and back, Si ngapore could soon become
known as a di amond-producti on center not for
the manufacture of mi ned di amonds, however, but
for type I I a di amonds created usi ng the Mi crowave
Plasma Chemi cal Vapour Deposi ti on (MP-CVD) method.
IIa Technologies Pte. Ltd. is a synthetic diamond facility,
described by the company as the largest diamond-
growing plant in the world. It was established at the
start of 2012 after eight years of research by Jatin Mehta,
the man who bought out the minority shareholders
in Gemesis to become the worlds largest producer of
gem-quality synthetic diamonds.
Te frm says it grows fawless, pure and confict-free
Type IIa diamonds, which are the purest of all earth-
derived diamonds on a commercially viable scale.
With just 2 percent of all mined diamonds being
Type IIa diamonds, these diamonds are extremely
valuable and rare.
Tere have long been two production methods to grow
diamonds: CVD and High Pressure High Temperature
(HPHT). Te HPHT method could produce large
diamonds at relatively commercial yields with
commonly available technology. According to the
company, Te problem was that this technology
could not grow what the world wanted, colorless high
purity Type IIa single crystal diamonds. Tis is due to
a catalyst used in the HPHT method that stabilizes
the growth process but also causes a brown-orange
coloration that was not desirable in jewelry.
As a result, the technology chosen by the team
from the start of its operations was a type of CVD
process called Microwave Plasma Chemical Vapour
Deposition (MPCVD). This technology, although
simpler in form, is much more complicated and
expensive than HPHT.
Te technology works at lower pressures exposing
multiple diamond seeds to a carbon-rich environment.
At the optimized conditions, carbon starts depositing,
the seed starts accepting the available carbon, and
the natural process of crystallization starts.
IIa Technologies says it is unparalleled in the quantity
and quality of CVD diamonds that it can grow and its
ability to work with customers to customize products
for specifc applications.
Te company says it ofers its customers the fexibility
of buying rough diamonds or specialized diamonds;
fnished or semi-fnished diamonds. Tis is made
possible with the help of its technology and supply
chain partners, which are also part of its global group.
IIa Technologies uses laser technology employed to
ensure the diamonds are cut efficiently, accurately
and with minimum damage or loss, which also
helps keep costs under control. It also produces on
a large scale and uses more than 150 laser machines.
Te frm adds that after more than seven years of
making fat diamond seeds for its own use, it has
developed the necessary skills to cut and polish
diamonds into a range of sizes and shapes. Tat
enables it to both grow diamonds and develop them
into various specialized fnished products.
Te company stresses that IIa Technologies is
investing in developing diamonds for various
applications, bringing new possibilities to high-tech
industries, scientifc institutions and laboratories all
Are
Lab-Made
Diamonds Good for
the
Environment?
106
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I I a Technologi es i s capable of produci ng
the same quanti ty of di amonds above
ground that a typi cal below ground
mi ne could produce i n less than one
percent of the volume of space requi red.

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107
108
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over the world. And it points out that its production,
as opposed to the mining of natural, mined, stones,
is environmentally friendly. Diamonds are grown
by IIa Technologies in a controlled environment
using modest amounts of energy with a small carbon
footprint to obtain identical physical and chemical
properties as their mined counterparts.
Te company states that compared to traditional
diamond mining, it consumes half the energy required
to produce the same amount of rough diamonds.
As the technology is still young, we are developing
the machines and processes to further optimize this
consumption, it says. Being based in Singapore,
most of our energy also comes from
natural gas-based [power] plants
which are more eco-friendly when
compared to traditional coal-based
plants.
Te company adds that when
compared to the same number
of carats produced in the Ekati
mines in Canada, IIa Technologies
Singapore saves the world as much
as 278 million miles worth of auto
emissions annually. Mining can
devastate the natural beauty and
local ecology of the area. Used
mines are generally never flled
in and leave scars across the
landscape that they occupy.
Te company also says that
preservation and restoration of the
natural environment is important.
IIa Technologies uses a small
amount of land to construct its
facilities and requires no earth
displacement. At the same time, IIa Technologies is
capable of producing the same quantity of diamonds
above ground that a typical below ground mine could
produce in less than one percent of the volume of
space required.
Te need to mine natural diamonds where they are
found to make the business commercially viable
means the commercial value of the mine overtakes
the social value of the land, an issue that lab-created
diamonds have done away with.
Te removal of local populations coupled with loss of
habitats for fshing, farming and wildlife creates a loss
Compared to traditional diamond mining,
it consumes half the energy required to
produce the same amount of rough diamonds.

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109
of employment and livelihoods that are dependent on
the ecology of the area. Tese are some of the social
impacts resulting from the development of natural
mines.
IIa Technologies, by contrast, says it blends in with its
local conditions without any negative social impact as
it operates just like any other semiconductor facility.
Te company states, We create safe and sustainable
employment for the community and have no negative
impact on the local habitat surroundings.
Te frm adds that mining for raw materials is a
necessary compromise that is made by almost all
the nations of the world in order to ensure economic
independence and create employment for their
people. Mining does create jobs, but these are neither
sustainable nor are they evolutionary. it says.
Some of these countries face difcult decisions
that are good for their people but bad for their
environment. In the past 25 years, work safety and
employee health have become primary concerns for
these nations. Mines are dangerous, unpredictable
and even the fnest engineers have not been able to
eliminate mining-related deaths.
110
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Synthetics
Pose Threat to
Consumer Conf
idence
Synthetics
Pose Threat to
Consumer
Conf idence
By Albert Robi nson
|
111
I s i t possi ble to esti mate the number of poli shed
syntheti c stones i n the global di amond pi peli ne? Most
people, i ncludi ng those wi th long years of experi ence
i n the i ndustry, would probably underesti mate the
si ze of the problem. Thi s i s a result of the fact that
most people i n the di amond trade si mply do not
come i nto contact wi th such stones and, therefore,
probably tend to mi sj udge the si ze of the i ssue.
Tey also believe that such stones are still easily
detectable, and they discount the continuous
improvements in the technology used to create lab-
grown or factory-created stones. In addition, it is not
widely known that the price and availability of the
machines used to create synthetic diamonds have
dropped dramatically, and the skills required to operate
them are much less demanding than in the past.
Tose, at least, are the arguments put forward by
industry analyst Chaim Even-Zohar who caused
something of a shock with his fndings in his annual
diamond pipeline survey for 2012. Even-Zohar
estimates that in 2012 alone, $500 million of polished
non-mined diamonds entered the pipeline.
His estimate was based on supply side activity from
the production from Chemical Vapor Deposition
(CVD) and High Pressure High Temperature (HPHT)
crystal-growing machines dedicated to the production
of gem-quality diamonds and able to create ever more
impressive gem-quality synthetics. Furthermore,
with the price of a CVD reactor dropping to around
$50,000, according to his estimates, the result is
that in China, Malaysia, Singapore, Russia, the US
and other countries, there are hundreds of workers
operating possibly hundreds of CVD reactors and
HPHT machines.
He says that familiar names in the synthetics business,
such as Gemesis, Carnegie and SCIO ( formerly
Apollo), are buying most of their equipment from the
same supplier in Japan. However, the machinery can
be acquired from other suppliers although the skills
needed to operate the equipment needs to be learned.
And there is a further problem that prevents the
industry from knowing the exact the size of the
polished synthetic diamond market. Tat is the fact
that the vast majority of natural polished stones,
some 98 percent, entering the diamond market every
year consist of diamonds smaller than 0.07 carats, or 7
pointers. Such small diamonds are of little interest to
the industry, says Even-Zohar, and are set in jewelry
at source.
Statistics relating to the US market show the potential
size of the problem. Te United States imported a net
$3 billion of polished diamonds in 2011; however,
retail sales consumption came to around $7 billion
in other words from polished diamonds that arrive
in the United States as diamond-set jewelry. Since the
diamonds are already set in jewelry, and are often very
small stones, they are unlikely to be checked thereby
increasing the possibility of synthetic diamonds
entering the country undisclosed.
However, that raises the critical issue of consumer
confdence. We should all be thinking of the possible
knock-on efect of a consumer buying an item of
diamond jewelry thinking it is a real, mined diamond
who goes to the trouble of having it graded and
discovers that it is, in fact, a synthetic stone.
112
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I t i s not wi dely known that the pri ce
and avai labi li ty of the machi nes used
to create syntheti c di amonds have
dropped dramati cally, and the ski lls
requi red to operate them are much
less demandi ng than i n the past.

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113
114
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The Detectives
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115
Such goods are set into jewelry as side stones or in
a pav setting. Several folks on the technical side
of the industry suspect that some of the smaller
yellow diamonds set in jewelry are also undisclosed
lab-made diamonds.
But the industry is not giving up without a fght.
Here are some of the tactics being used to help keep
undisclosed diamonds out of the industry pipeline.
Following the revelation that so many undisclosed
diamonds had been submitted, all of the diamond-
grading labs agreed to re-examine the terms that are
signed by the diamond traders submitting diamonds
for evaluation.
These terms should clearly state that all parties
agree on the exact procedures to be followed in
case a diamond or diamond parcel is submitted
without full disclosure of its origin, the World
Federation of Diamond Bourses said in a press
release on the subject.
HRD Antwerp has introduced a service in Antwerp
and Mumbai to help in the fght to keep undisclosed
synthetic diamonds out of the market. Te check helps
diamond traders to ascertain that all of the stones in
a polished diamond parcel are natural by screening
parcels of near colorless polished diamonds for HPHT
and CVD synthetics, HPHT-treated diamonds and
diamond imitations.
Te examination applies to parcels containing a
minimum of 20 diamonds, ranging from 0.05-0.49
carats with a color range between D and L.
Once the screening has been completed, the client
receives a sealed parcel containing a screening report.
Te wording of the report states, Tis parcel only
consists of natural diamonds, not synthetic and not
HPHT treated.
If a possibly synthetic or HPHT-treated diamond or
diamond imitation is discovered, the suspected items
will be removed and returned in a separate parcel.
GIA has added a $12 per stone identifcation option
for diamonds of 0.20 carats and smaller to its Quality
Assurance services.
Combining screening for synthetics with the detection
of permanent color treatments for natural stones,
GIA said the service provides greater assurance for
dealers, retailers and the public. It is specifcally
One of the major news stories of last year was the tale of
the 600 or so lab-made diamonds submitted undisclosed
to the International Gemological Institute in Antwerp
for grading. This was not, many believe, an isolated
case. There are undoubtedly many more undisclosed
synthetic diamonds travelling through the pipeline than
can be accounted for. One of the reasons is that many
undisclosed lab-created diamonds are smaller goods,
which are not usually graded.
116
|
I t i s i mportant to protect
the i ntegri ty of the
trade and the confi dence
that consumers have
i n i t. I t i s clear that as
far as the i ndustry i s
concerned, there should
be zero tolerance on
anyone tryi ng to pass off
syntheti c di amonds as
natural.

|
117
118
|
designed to randomly screen parcels of small
diamonds, and combines screening for synthetics
with color treatment detection.
GIA stated that all stones submitted for GIA grading
and identifcation services would continue to be
screened for synthetics and treatments as part of
the grading process. Tis service examines D-to-Z
diamonds and fancy colored diamonds up to 0.20
carats, as well as black diamonds up to 0.50 carats.
Based on the examination, GIA issues a statement
that the stone is synthetic or natural and if natural
whether any permanent color treatments have
been applied.
Helping to increase industry know-how, IGI has extended
its gemological courses in Antwerp from eight to 10
days to give new students and alumni the opportunity
to update their knowledge on developments related to
synthetic diamonds and treatments.
Te courses now include more detailed information
and practices on synthetic diamonds, diamond
treatments and enhancements and grading of
mounted stones, explained IGI CEO Roland Lori.
Combining screening for synthetics
with detection of permanent color
treatments for natural stones, GIA said
the service provides greater assurance
for dealers, retailers and the public.

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119
Te Indian gem and jewelry sector took a global
look at the situation and established a wide-based
committee to formulate ways to protect itself from
undisclosed synthetic diamonds and gemstones. Te
committee is also empowered to act as a watchdog
and take appropriate action against those found to be
knowingly passing on undisclosed synthetics.
The committee is comprised of the Gem &
Jewellery Export Promotion Council (GJEPC),
the Bharat Diamond Bourse (BDB), the Mumbai
Diamond Merchants Association (MDMA) and the
All India Gem & Jewellery Trade Federation (GJF) to
represent retailers.
It is important to protect the integrity of the trade
and the confdence that consumers have in it. It is
clear that as far as the industry is concerned, there
should be zero tolerance on anyone trying to pass of
synthetic diamonds as natural, said Sanjay Kothari.
Kothari explained that the actual reporting of any
violations would be at the member association level.
Tese associations would now encourage members
to immediately report any violations, and they
would in turn bring the violation to the notice of the
committee. Te committee would then initiate the
necessary action through the association.
For those who want to be able to identify lab-made
diamonds themselves, the DiamaPen could be the
way to go. Te $200 laser pen from Diamond Services
Ltd. can identify HPHT and CVD-grown diamonds
and uses a 405 nm wavelength for the operation of its
laser beam.
Te pen was endorsed by Joseph Kuzi, owner and
CEO of EGL Asia, who said that while it is easiest for
the pen to detect fancy yellow synthetics, the testing
results were consistent and highly satisfactory.
No doubt more schemes will be added as the battle to
prevent undeclared synthetics continues.
To advertise in the magazine contact sales director Ian Francis
on tel: +44 (0) 20 7613 4445 or email: ian@jewellers-online.org
For subscriptions call Amanda White at the NAG on tel: +44 (0) 20 7613 4445 or email: thejewellersubs@jewellers-online.org
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121
he seven-hour fight from Moscow to
Mirny from the edge of Europe to
the remote town in the Republic of
Yakutia deep in the heart of the Russian
Federation was followed by another
two-hour long low-level fight even further east in a Mi-8
helicopter, originally designed for military proposes.
All along the second leg of our fight, at 500 meters
above ground, the view of an endless forest and long
stretching rivers dotted with occasional icy, still frozen
spots accompanied us. Tere were no paved roads,
no power lines and no pipes crossing or spoiling the
landscape. An occasional muddy path distending
in a straight line leading from who-knows-where to
nowhere-to-be-seen is the only testament to any form
of civilization or life of any kind in the area loosely
known to the outside world as Siberia.
Deep in this area are several of Alrosas diamond mines.
Tey operate year round, regardless of the weather.
We landed in Nyurba, another 600 kilometers east of
Mirny to see Alrosas operations in Yakutia. We were
frst taken to processing plant 16 a massive operation
that serves Alrosas most prolifc diamond mine.
Output totaled 7.23 million carats in 2012, or about 21
percent of Alrosas production during that year.
T
The Alrosa Mystique
By Edahn Golan
mininG
Images: Courtesy Alrosa
122
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mining > the alrosa mysti que
|
With the help of a workforce of some 1,500 people
who operate in shifts around the clock, and two
blasts a week at the mine pit, nearly 2 million tons
of ore are hauled out annually and processed at the
mines processing plants.
After it is crushed, the ore travels on a series of
conveyer belts through the plant, where it is washed,
sent into the Dense Media Separation solution,
washed again, dried and put on to vibrating tables
with gradually larger openings that separate the
goods by size. Te output is then sent through an
x-ray system for another separation stage.
According to Igor Uvarov, director of the Nyurba
Mining and Processing Division, who walked us
through the facility, the biggest challenges facing this
remote mine is the delivery of supplies and removal
of the goods.
Te permafrost ground that has hosted the diamonds
for millions of years supports an ice road during
the winter months. During that time, fuel, heavy
machinery and explosives are transported. In the
warmer months, after the ice melts and the upper
layer of ground thaws, mud prevents a ground
transportation connection with Mirny, and the mine
depends on Alrosas feet of helicopters.
Te next morning we headed to International
Underground. Commissioned in 1999, the
underground operation is 1,000 meters
(3,280 feet) deep. Some half-a-million tonnes
of ore are excavated annually, and brought
up to ground level, yielding nearly 6 million
carats in 2012.
To prevent collapses, teams work in strips
of 6-7 meters wide by 5 meters tall, digging
out ore, flling the tunnel with a special
concrete mix when they reach the edge of
the diamond pipe, before moving on to dig
the next tunnel. Tis work is done in slices
across the pipe, always at various levels.
Igor Duma, director of the International
Underground mine, showed us the long-
term mining plan. Tis year, levels 4, 7,
8 and 9 are being worked on and plan to
produce about 500,000 tonnes of ore. Te
plan extends to 2024.
Level 9 is 560-690 meters (1,837-2,264 feet)
below the surface. After a safety briefng
that included instructions on how to
use an emergency breathing pack, we suited up
in special protective clothing, and went down the
mineshaft elevator 600 meters (1,970 feet) with a
crew of mineworkers. Tere are 300 people working
underground in three shifts of seven hours. Before
every shift, their blood pressure, pulse and alcohol
levels are checked.
To reduce air pollution in the mine, most underground
vehicles are electric. Standing next to a Sandvik mt720
tunneling roadheader as it crushed through the
frozen rock in the depth of the earth was an adventure
on its own.
This place, where the diamond

journey begins, is a harsh
environment populated by
hardened men in helmets and
heavy machinery, with air pushed in
from above and sucked out through
another shaft.
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123
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mining > the alrosa mysti que
|
Squeezing around the $1.5 million mechanical beast
in the narrow tunnel, we stood at the starting point
of the diamond pipeline. Te roadheader started
roaring, the heads spun and were pushed against the
kimberlitic wall, raising a cloud of dust as it broke
ore that was pushed onto the conveyor belt running
under the machine before being dropped onto a
waiting wheel loader.
Tis place, where the diamond journey begins, is a
harsh environment populated by hardened men in
helmets and heavy machinery, with air pushed in
from above and sucked out through another shaft.
Alrosa is aiming for the industrys top position. It
is already the worlds largest diamond producer
by volume, providing a steady supply of about 34.5
million carats annually, and it plans to dethrone De
Beers as the top producer by value.
When will you be the biggest company in the
industry? I asked Igor Sobolev, frst vice president
and executive director of Alrosa. In 2018, he said.
Te company has 1.154 billion carats in reserves in
the ground, a number of ongoing exploration projects
in Yakutia and several more in Africa in Angola,
Namibia and De Beers home turf, Botswana.
An IPO is planned for later this
year, and the company hopes
that the shareholders, Russia and
Yakutia, will use the funds from the
14-percent stake ofering to take
on the infrastructure works that
Alrosa has cared for until now.
Tis is part of a wider Alrosa plan
to rid itself of most non-core
activities. It has already sold its
chain of hotels and the Timir iron
ore project. Next are a hydroelectric
power station, as well as their gas,
oil and agricultural holdings.
Some of the open pit mines in Yakutia
are planned to go underground, and
the budget for these projects has
been earmarked. With a greater
focus on diamond mining, an
expansive exploration program and
a huge proven reserve, Sobolev said
the way to becoming the leading
producer is simply by increasing production.
Engineers tend to be conservative with figures.
Sobolev said the planned increase in revenues and
production does not take increased demand into
account, rather it is based on continued stable
consumer demand.
On the fight back to Moscow on the Alrosa
commercial airliner, I looked out the window at the
endless and beautiful green, blue and white vista. A
diamond is painted on the planes wing, bluish against
a white background. Down below Alrosa is hard at
work at increasing market share with an efcient
operation and conservative outlook of the consumer
market. Is this the twilight of the De Beers century
or will Alrosas ambition prompt De Beers to become
more aggressive and protect its market share?
Just a few years ago, Alrosa would not share its plans
with the outside world. Diamond exports and reserves
were guarded state secrets. Today, the miner is far
more transparent, recognizing that the way ahead goes
through greater disclosure. Clearly, large changes have
already taken place, and more dramatic changes are
still ahead. IDEX
124
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Zambia Forbids GemFields
From sellinG Gemstones abroad
Gemfields Plc, the biggest emerald producer in
the world, has been prevented by the Zambian
government from sending gemstones to Singapore
for auction due to fears the sale would move
revenue abroad.
Zambias Mines, Energy and Water Development
minister, Yamfwa Mukanga, said selling the
gems outside Zambia is not allowed, reported
Bloomberg News.
Te Zambian government said in April that all gemstones
mined in the country should be sold in Zambia, and any
exports should frst be sold in the country.
Te ongoing ban will reduce revenue from Gemfelds
Kagem emerald mine in Zambia, the biggest in the
world. Te producer previously sold its stones in
India and Singapore.
Gemfields had planned to hold an auction of its
production in Singapore from June 10 to 14, ahead
of the end of its financial year this month, but it
was suspended.
The company last held a sale in April in Lusaka,
Zambias capital city, in which it sold $15.2 million
of stones. IDEX
mi ni ng
News
Image: Gemfelds
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125
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mininG > news
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Gannicott comments reduce chances oF
buyinG rios diavik stake
ellendale mine bulk sample results
exceed expectations
the E9 pipe. Prior to this year, it had not been exploited
in any signifcant way.
Te current plan, based on available information
at the end of 2012, is to mine 875,000 tons of ore
containing an estimated 22,900 carats from FEP this
calendar year.
Te two bulk samples indicate an increase in
expected grades, which may potentially lead to an
increase in the ore that can viably be mined from the
Far East Pit.
Two further bulk samples are planned for the coming
months. IDEX
Australia and 78 percent of the Murowa mine in
Zimbabwe.
We do not wish to purchase the entire unit. Were
very focused on the Northwest Territories the
place we know, the place we belong and the place
we understand, said Gannicott in a call to discuss
Dominions results for the quarter ended April 30.
In other news, Dominion has appointed Chantal
Lavoie to the position of president and CEO of
Dominion Diamond Ekati Corp. Lavoie is now
responsible for the companys mining operations
based in Yellowknife in the Northwest Territories.
Lavoie is a mining engineer with more than 25 years
of experience in open pit and underground mining
including permitting, construction, operation and
senior management.
He previously worked at De Beers Canadian mining
operations, including the Victor mine in Ontario,
the Snap Lake mine and the Gahcho Kue project in
the Northwest Territories and Barrick Gold Corps
Goldstrike operation. IDEX
Kimberley Diamonds has recovered bulk samples
from the Ellendale Mine in Australia with an average
of 3.6 carats per hundred tons (cpht) a marked
improvement on the previous grade of 2.55 cpht.
Te frm said that two bulk samples from the Far East
Pit (FEP) of the E9 pipe contained 1,060 carats at an
average grade of 3.57 cpht and signifcantly exceeded
previous expectations.
Te samples were treated through the E9 East
production process plant, and independent
valuations were carried out by Independent Diamond
Valuers Pty Ltd.
FEP remains the least developed and understood area of
Dominion Diamond Corp appears unlikely to acquire
Rio Tintos 60-percent stake in the Diavik mine
in Canadas Northwest Territories, according to
comments made by CEO Robert Gannicott.
Instead, the miner is concentrating on developing
promising assets near the Ekati mine where it bought
BHP Billitons 80-percent holding.
Industry speculation has suggested that Dominion
would be the most likely buyer of Rio Tintos holding,
particularly as it owns the other 40 percent of the
Diavik mine.
However, it said it would only be interested in the
stake at the best possible price from its point of view,
and on its terms.
Teres no point in buying things just to have more
diamonds, Gannicott said. If its not going to deliver
proftability, then Im quite happy to stay where we are.
Te acquisition is even less likely because Gannicott
said that the frm would only be interested in the
Diavik stake, whereas Rio Tinto is aiming to sell its
diamond business as one unit. In addition to Diavik,
Rio Tinto owns 100 percent of the Argyle mine in
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mininG > news
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diamcor raises $2 million in private placement
panGolin diamonds discovers
second kimberlite in botswana
alrosa completes $217 million purchase
oF alluvial miner
A unit of Russian diamond miner Alrosa has
completed the acquisition of alluvial diamond mining
frm Nizhne-Lenskoe for around $217 million in a deal
fnanced by new short-term debt.
Almazy Anabara, a wholly-owned division of the
Russian mining giant, paid $113.6 million in January
for a 51-percent stake in Nizhne-Lenskoe and has now
acquired the remaining 49 percent in the frm.
Nizhne-Lenskoe operates in the northwest of the
Republic of Sakha (Yakutia) close to Almazy Anabaras
facilities. It owns a number of alluvial deposits, and
its rough diamonds have an average price per carat of
$100-$180.
Nizhne-Lenskoes output last year was 1.5 million
carats. The company posted revenue of around
$145 million.
Alrosa said it aims to optimize the operational
capacity, as well as the sales performance of Nizhne-
Lenskoe. IDEX
Pangolin Diamonds Corp. recently announced the
discovery a second kimberlite at its 100-percent
owned Tsabong North Project in Botswana. Te
newly discovered Magi-02 kimberlite, along with the
previously announced Magi-01, are two of seven new
kimberlites found in the country in the past fve years.
Botswana is the worlds leading diamond producing
country by value.
Te companys newly appointed consultant, geologist
Manfred R. Marx, said that a site visit and visual
inspection of core samples of both kimberlites infers
that they may contain micaceous sandy tufs similar
to those observed in the lamproite volcanic structure
at the Argyle diamond mine in Australia.
Toronto-listed Diamcor Mining Inc. which has
operations in South Africa, has closed a non-brokered
private placement that raised almost $2 million.
Te money will be used for operating capital to support
the continued advancement of the companys Krone-
Endora at Venetia Project, the planned ramping
up of operations currently underway, the ongoing
processing of material aimed at recovering additional
rough diamonds for planned sales in the short-term
and for general and corporate purposes.
Te miner, which has a long-term strategic alliance
with jewelry retailer Tifany & Co, bought the Krone-
Endora at Venetia project from De Beers Consolidated
Mines Limited in 2011. IDEX
Marx led the feld team that discovered the Orapa
diamond mine in Botswana, the second-largest open
pit diamond mine in the world.
Based on these positive results, Pangolin said two
additional core drill holes intersecting at least 100
meters of kimberlite will be drilled on the Magi-01
and Magi-02 kimberlites for kimberlite indicator
mineral and microdiamond recovery.
Te company said it will continue to drill other
previously identifed kimberlite targets in the
immediate area of the Tsabong North project before
returning to the already identifed kimberlites. IDEX
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127
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mininG > news
|
lucara updates outlook aFter
exceptional start to 2013
Gem diamonds sells
164-carat diamond
From letenG For
$9 million
Gem Diamonds Ltd has sold a 164-carat D color, Type
IIa diamond recovered from the main pipe at the
Leteng mine on April 30 for $9 million.
Te diamond is expected to produce top color and
top clarity polished diamonds and has been sold into
a proft-sharing arrangement for $54,911 per carat.
Leteng Diamonds will also beneft from a signifcant
share of the downstream polished margin from the
sale of the polished diamonds.
Further work focusing on reducing diamond damage
at Leteng continues and in addition to the 164-carat
diamond, a 103-carat diamond was also recovered
from the main pipe, and both diamonds were
undamaged. IDEX
Lucara Diamond Corp. has provided a revised
operating performance outlook for 2013 in light of its
exceptional start to the year.
Lucara has had an exceptional start to 2013 with the
recovery of large and exceptional diamonds resulting
in the companys frst large stone tender, achieving
gross revenues of $24.8 million and the sale of its
second blue stone for $1.6 million, said president and
CEO William Lamb.
Lucara continues its solid operating performance
and has revised its operating cost and production
guidance. Te additional cash fows from the large
stone tender will result in the strengthening of the
companys balance sheet, as it expects to reduce
its debt by meeting all of its debenture repayment
obligations of $33.3 million by the end of the year.
Among the key operational highlights, the Karowe
mine is projected to process 2.5 million tons. Lucara
is forecasting diamond sales of 420,000 carats in 2013,
an increase of 5 percent from previous guidance.
Te miner is forecasting revenues of around $118
million.
It said that fve sales are planned for the remainder
of this year, excluding the potential for a second
large stone tender with viewings in both Gaborone
and Antwerp.
Karowes operating cash costs are expected to be around
$23 per ton treated, in line with previous guidance.
Capital expenditure for 2013 is expected to be
approximately $5 million, an increase from previous
guidance of $3 million, which is to fund advanced
work on the companys tailings dam and securing the
companys water resources with the installation of
additional boreholes. IDEX
Image: Gem Diamonds
128
|
What is the best piece of advice you have
ever received?
No risk, no chance
What is your best business tip?
Be persuaded of your targets and how you want to
reach them.
Who or What other business or business
people inspire you?
Successful entrepreneurs and the way they reached
their success. Also, diamond traders and jewelers
who show how much they love their products.
if you had only had a couple of Words to
describe yourself, What Would they be?
Well adjusted.
What do you most enjoy about your Work?
Working with the nicest product in the world, making
the customers happy and getting their positive feedback.
What do you do to relax?
I enjoy my friends and discussing in a relaxed and
joyous way the issues of life and the world
What Would be your dream job?
Being founder and CPO of Yorxs AG. IDEX
name: Casimir Graf Maltzan
position: CPO
company name: Yorxs AG
type of business: Online trading/webshop for
loose diamonds and diamond jewelry
size of business: 10 employees
years in business: One year
business philosophy: The best service, the best
transparency and the best prices for end consumers
What sets your company apart from others
in the industry?
We have the highest concentration of diamonds, the
best information about the diamonds, the availability
of the diamonds is highly guaranteed and we also
have the best transparency.
What are your plans for your business in
the future?
Increasing the business by become more and more
well known for the fulfllment of our business
philosophy and adding additional diamond-based
business ideas.
What makes you most proud about your
company?
We are fully internally developed and designed, and
we have a great staf.
What is the most difficult business decision
you have ever had to make?
To fnd the right IT technology, which allows us
to be fexible for any business increase and new
developments and ideas.
What is the biggest risk you have ever taken?
I fully own the investment into the company.
ProfIlE
USA
+1-212-382-3528
w
w
w
.
i
d
e
x
o
n
l
i
n
e
.
c
o
m
RUSSIA
+7-495-255-8300
INDIA
+91-22-663-32187
BELGIUM
+32-3-234-1157
ISRAEL
+972-3-612-8995
Guaranteed Diamond Transactions
TM
- The only spot market for diamond professionals
The IDEX Diamond Inventory

- Search engine and LIVE feed embedded to your website
IDEX Diamond Price Report

- Transparent wholesale prices based on real market data
And more
IDEXOnline IDEXOnline info@idexonline.com
Join the professionals at www.idexonline.com
COMMISSION - FREE
TRADING ENVIRONMENT
DIAMOND
TRADING
& PRICES
130
|
ADVERTISERS LIST
Advertiser pAge Advertiser pAge
580 Building 12 J. Pinchasi & sons 59, 61
ABN Amro Bank 20 K. Girdharlal 43
Almor Designs 38 Karp Group 8
Aloni Diamonds 37 Kiran Gems Pvt. Ltd 11
B.V.C. & Co. (India) Pvt. Ltd. 14 Komal Gems NV 5
Bhavani Gems 45 Kristall Production Corp. 3
D. Navinchandra 15 Leo Schachter 47
DDS - Direct Diamond Solutions 29 Lucee Diamonds 4
Dharmanandan Diamonds 41 M. Suresh 18
Eurostar Diamond Traders N.V 82, 132 Malca Amit 87
G4S 78 Malca Amit Antwerp 26
GemeWizard 79 Millei Diamonds 23
GemFind 34 National Jeweler 24
GIA - Gemological Institute of America 55 Priti Gems 91
GJEPC - Gem & Jewellery Export Council 69 RDI 83
Hari Krishna Exports 9 Rosy Blue NV - Insert 82/83
HRD Antwerp 73 Rubel & Mnasch 131
Ideal Brilliant 19 Sheetal Manufacturing 13
IDEX Diamond Trading & Prices 82/83, 129 Shimony Diamonds 70
IGI - International Gemological Institute 85 Shree Ramkrishna Export - Insert 50/51
Instore Magazine 16-17 Tach 7
Interjewel Pvt. Ltd. 11 The Jeweler Magazine 120
International Gem Tower 2 Venus Jewel 6
World Wide Security 90
The DTC logo is a trademark used under licence from DTC
A starsh designed by natures hand. Look closely and you will
nd a whole world of excellence. Nature just grows in the most
perfect way. Eurostar is inspired by nature. Driving us to produce
the best cut diamonds on the planet.
Discover our world of excellence at www.eurostardiamond.com.
Trusted by the Worlds Most Prestigious Watch & Jewellery Brands.
Visit us at IIJS Mumbai booth 5Q092
from August 8-12, 2013.
EURO-02529-Ad-Idex-210x270-Excellence-Mumbai2013.indd 1 5/06/13 15:19

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