Diamond News Archives

(IDEX Online) - Christie's first "live" auction in New York since coronavirus will feature a pendant necklace with a 116-carat diamond and a high estimate of $7m.

The central diamond (pictured) is a pear brilliant-cut diamond of 115.83 carats, F color, VVS1 clarity and the platinum necklace includes more than 50 other diamonds, of up to 5.50 carats.

The Magnificent Jewels sale, which takes place on Wednesday (29 July) is the first live auction by a major auction house in New York since the COVID-19 lockdown. 

Although it will take place in real time, Christie's will not allow in-rom bidding as a social distancing precaution.  Bids will be by phone or online, viewings are in person by appointment a.t the auction house's Rockefeller Center headquarters

Another significant highlight among the 260 lots is a 7.16-carat fancy intense blue diamond ring, with a high estimate of $5m. The diamond is pear modified brilliant-cut, natural color, IF, type IIb.

There are also pieces from prominent private collections, including signed jewels by Suzanne Belperron, Bulgari, Cartier, JAR, Tiffany & Co., Van Cleef & Arpels, Verdura and other noteworthy makers....

(IDEX Online) - De Beers is embarking on a huge modernization program that will affect all aspects of the business, CEO Bruce Cleaver said in a letter to staff.

The move, in response to the COVID-19 pandemic, will include reviewing the way it sells rough stones, according to a report on the Bloomberg news website.

It raises the possibility that the company's long-held tradition of holding Sights may up for change.

Mr Cleaver (pictured), who took over in 2016, reportedly said he was exploring ways of selling stones "more quickly and in a more integrated way".

De Beers holds 10 Sights a year (in "normal" times) at which Sight holders are allocated fixed parcels of diamonds at fixed prices. 

This year Sight 3 was canceled and Sight 4 reportedly realized just $35m - less than a tenth of the equivalent sale last year. De Beers' sales for the whole of Q2 fell 96 per cent to $56m.

Mr Cleaver said COVID-19 had exacerbated existing problems within the industry and demanded action to protect the short-term health of De Beers as well as its long-term potential....