Tuesday, September 11, 2007

Diagem Updates Trade on 9ct+ Pink Diamond

Six months ago, Diagem Inc. of Canada purchased a 9.32ct pink rough diamond from an artisan miner in Brazil for about $445,000. The miner held a permit to mine diamonds on Diagem's property 370/98. At the time it was estimated the rough stone would end up as a 5ct heart shape polished diamond, but it turns out that estimate was a little optimistic. pink diamond

Diagem shipped the diamond to the Natural Diamond Corporation of Belgium for analysis, cutting, and polishing.

Jacky Lewy, a director of Diagem and a principal of Natural Diamond, has been directing the cutting and polishing process, which is nearly complete at 3.13cts.

The heart-shaped, orangey-pink diamond (pictured) has peaked the interest of some auction houses.

According to Lewy, "Christie's has expressed interest in including the diamond in its next auction or the auction preceding Valentine's Day. Other houses are also showing interest."

Lewy and others who have examined the diamond express confidence that the diamond will likely achieve a significant value, but the company cautioned that it is not possible to obtain a definitive valuation because of the unique and rare nature of the diamond.

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