On the cusp of ChristieSA国际影视传媒檚 Foxfire diamond auction in New York City, a Canadian diamond dealer is bullish on the value of real stones, even with the emergence of De BeersSA国际影视传媒� lab-grown diamonds.
SA国际影视传媒淭his is another example of ChristieSA国际影视传媒檚 taking highly desirable diamond from a Canadian mine and putting it to auction SA国际影视传媒� I think itSA国际影视传媒檚 going to sell extremely well,SA国际影视传媒� said Canadian Diamond Exchange president Shaun Baumbach, of next monthSA国际影视传媒檚 sale. SA国际影视传媒淒iamonds used to be hard to sell at auction, now investors are seeing them sold at record breaking prices and the Foxfire ones could sell at record breaking prices too.SA国际影视传媒�
The Foxfire diamond in the rough was 187.66carats, it has been cut and polished into two earrings at 36 and 37 carats and could bring in $3-million at auction.
Cleaved, cut and polished from the record-breaking 187.7 carat Diavik mine Foxfire stone SA国际影视传媒� the largest known gem-quality diamond unearthed in North America SA国际影视传媒� the pair of teardrop earrings (37 and 38 carats respectively) could fetch more than $3 million.
Both Baumback and De BeersSA国际影视传媒� CEO Bruce Cleaver agree on the relative value of lab-grown diamonds; the latter in a May interview with Bloomberg described them as SA国际影视传媒渘ot special, theySA国际影视传媒檙e not real, theySA国际影视传媒檙e not unique. You can make exactly the same one again and again.SA国际影视传媒� This despite the price points advertised by major retailers declaring 20 or 30 percent SA国际影视传媒渟avingsSA国际影视传媒� compared to the real thing.
SA国际影视传媒淚 saw a commercial on television advertising lab-made diamonds as SA国际影视传媒榯he rarest in the worldSA国际影视传媒� and I thought SA国际影视传媒榳hoa,SA国际影视传媒� they could end up getting sued on this,SA国际影视传媒� said Baumbach. SA国际影视传媒淚f I was buying a lab-grown diamond, ISA国际影视传媒檇 be extremely careful. Diamonds are rare. The fact is, lab-grown diamonds are not.SA国际影视传媒�
To protect yourself from inadvertently purchasing a lab-grown or other synthetic diamond like a cubic zirconia, Baumbach said to SA国际影视传媒渄o what ISA国际影视传媒檝e been telling my customers for 16 years: only buy GIA certified diamonds.SA国际影视传媒�
Last week, De Beers posted figures on its latest sale of Mountain Ice diamonds from the Gahcho Kue mine: US$17.7 million (CDN$23.3 million) from 245,751 carats at an average realized value of US$72 per carat. But, Baumbach said the $200 to $300 price point typical in lab-grown diamond jewelry should not be confused with rough diamond bulk values.
SA国际影视传媒淚t takes about 10,000 caratsSA国际影视传媒� worth of white diamonds to be mined in order to get one rough diamond that is going to polish to one-carat engagement ring quality,SA国际影视传媒� he said. SA国际影视传媒淣ow to get a fancy intense yellow diamond polished to one carat, the equivalent of 10,000 one carat whites have to be mined.SA国际影视传媒�
The average price of a quality one carat white diamond can run between $4,000 to $6,000 while the yellow fancy would fetch somewhere in the $10,000 to $15,000 range, Baumbach estimated.
SA国际影视传媒淪o when people say diamonds arenSA国际影视传媒檛 rare, itSA国际影视传媒檚 true that rough diamonds of low quality arenSA国际影视传媒檛, but an engagement quality diamond is extremely rare,SA国际影视传媒� he added.
Hau Huynh, proprietor of Arctic Jewellers in Yellowknife told News/North that he only deals in Canadian diamonds from the Northwest Territories.
SA国际影视传媒淚 heard about (De Beers lab-grown diamonds), but I never stocked them in my store and I donSA国际影视传媒檛 have any customers asking me,SA国际影视传媒� Huynh said. SA国际影视传媒淎nd I donSA国际影视传媒檛 want to sell any synthetic diamonds.SA国际影视传媒�
In BaumbachSA国际影视传媒檚 case, SA国际影视传媒淚 can get lab-grown diamonds, if a customer wants them. But nobody has asked yet. In fact, I have had customers asking me not to deal in lab-grown diamonds.SA国际影视传媒�
