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.

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.

Diamonds Feature Prominently at MTV Awards in Las Vegas

As the evening lights went up on Las Vegas September 9, 2007, music television channel MTV hosted its annual video music awards. The Diamond Information Center noted too that diamonds rocked the strip, sparkling from the red carpet right on up to the awards stage.

This season’s diamond fashion trends featured stacked diamond bangle bracelets, boldly adorned Right Hand Rings, and stylish diamond statement earrings the group stated. The “sister act,” diamond jewelry designers Ofira and Lorraine Schwartz styled some of the leading ladies at the awards, including Ashanti who shined bright in a glitzy diamond Right Hand Ring set in platinum.

Singer Ashanti and diamond jewelry at the MTV video music awards.

Singer Beyonce′ donned five diamond Caviar bangles; and two diamond Monkey Collection bracelets also by Lorraine Schwartz; and singer Mary J. Blige hit a high note wearing 18 karat gold diamond statement earrings by Ofira.

The Diamond Information Center listed the following hot diamond trends:

Stacked Diamond Bangle Bracelets

• Ashanti -- Lorraine Schwartz -- Diamond bracelet set in platinum and diamond and platinum bangles
• Beyonce -- Lorraine Schwartz -- Five stacked diamond Caviar bangles; two diamond Monkey Collection bracelets
• Jennifer Hudson -- Ofira -- Diamond and 18 karat gold bangle bracelets
• Mary J. Blige -- Ofira -- Diamond and 18 karat gold bangle bracelets

Boldly Adorned Right Hand Rings

• Ashanti -- Lorraine Schwartz -- Diamond Right Hand Ring
• Britney Spears -- Hellmuth -- Diamond Right Hand Ring
• Eve -- Jacob & Co -- 3.5 carat diamond Right Hand Ring
• Jennifer Garner -- Cartier -- Diamond Right Hand Ring
• Mary J. Blige -- Lorraine Schwartz -- White and brown diamond Right Hand Ring set in 18 karat gold
• Megan Fox -- Rafinity -- 10 carat diamond Right Hand Ring valued at $49,000
• Nicole Scherzinger -- Sol Rafael -- 18 carat intense yellow radiant diamond Right Hand Ring valued at $450,000

Stylish Diamond Statement Earrings, including diamond hoops and studs

• Ashanti -- Lorraine Schwartz -- Diamond Caviar hoops set in platinum
• Britney Spears -- Diamond studs
• Jennifer Hudson -- Ofira -- Diamond and 18 karat gold earrings
• Mary J. Blige -- Ofira -- Diamond and 18 karat gold earrings
• Megan Fox -- Rafinity -- 2.5 carat giant skinny hoop earrings valued at $4,600
• Nicole Scherzinger -- Sol Rafael -- 6 carat diamond studs valued at $150,000
• Rihanna -- Diamond studs

The following celebrities all wore diamonds to the 2007 VMA MTV Awards:

• Ashanti -- Lorraine Schwartz -- Diamond bracelet set in platinum; diamond and platinum bangles; diamond Caviar hoops set in platinum; diamond Right Hand Ring
• Ashlee Simpson -- Jacob & Co -- 7 carat black diamond mesh cuff; 7 carat diamond chandelier earrings
• Audrina Patridge -- Erica Courtney -- Diamond Enchantment bracelet featuring 0.51 carat yellow diamond set in 18 karat gold and 0.56 carat oval diamond set rose gold, both stones in 2.18 carats of pave diamonds valued at $33,000; diamond earrings; diamond Right Hand Ring
• Beyonce′ -- Lorraine Schwartz - Five diamond Caviar bangles and two diamond Monkey Collection bracelets; diamond Monkey Collection earrings
• Britney Spears -- Diamond cuff; diamond studs; diamond rings; including Right Hand Ring by Hellmuth
• Eve -- Jacob & Co -- 3.5 carat diamond Right Hand Ring
• Jennifer Garner -- Cartier -- Diamond bracelet; diamond earrings; diamond Right Hand Ring
• Jennifer Hudson -- Ofira -- Diamond and 18 karat gold bangle bracelets; diamond and 18 karat gold earrings
• Lauren Conrad -- Diamond bracelet and diamond Right Hand Ring
• Ludacris -- Lorraine Schwartz -- Diamond studs (his own); black and white diamond ring
• Mary J. Blige -- Ofira and Lorraine Schwartz -- Diamond and 18 karat gold bangles by Ofira; diamond and 18 karat gold earrings by Ofira; white and brown diamond Right Hand Ring set in 18 karat gold by Lorraine Schwartz
• Megan Fox -- Rafinity -- 2.15 carat diamond giant skinny hoop earrings valued at $4,600; 10 carat diamond Right Hand Ring valued at $49,000
• Nicole Scherzinger -- Sol Rafael -- 6 carat diamond studs valued at $150,000; 18 carat intense yellow radiant diamond Right Hand Ring valued at $450,000
• Paris Hilton -- Diamond cuff bracelets; diamond earrings; diamond Right Hand Ring
• Rihanna -- Two stacked diamond bracelets; diamond studs; diamond Right Hand Ring
• Whitney Port -- Diamond earrings; diamond Right Hand Ring
• Moon Man Award -- Jacob & Co. -- Diamond Moon Man Award, 13.75 total carats of white and black diamonds, plus 14k yellow gold valued at $200,000

Dalumi to Showcase 'Simplicity' at Hong Kong Show

Israel-based Dalumi Group has plans underway to showcase a new jewelry design at the upcoming Hong Kong Jewellery and Watch Fair.

The Diamond Trading Comany siteholder will be presenting the first looks at its "Simplicity" collection. The line features a mix of round and square diamonds, many of which were polished in the company's new cutting center in Botswana.

The rings (pictured), earrings and necklaces (also pictured) use white as well as yellow gold in the designs. Marketing communications manager Michal Marx told Rapaport News that the collection's theme is based upon "understated design elements" to achieve a "new language of intimacy."

Marx said that the jewelry was designed for East Asian and the United States markets, with a medium price point. She stressed the importance of the Hong Kong show to Israel, especially in terms of sales, and for reaching the intended target audience.

"We have a very large booth in Hong Kong," she explained. "Our display is 99 square meters. We are present at other shows all over Asia, but this is our most important show…it's a very good show for sales. Basel is a show to be seen, but Hong Kong is a sales show."

Marx told Rapaport News that the booth will be located in Pavilion 5, and not among the 40 IDI-sponsored jewelers from Israel in the Israel Diamond Pavilion. She said the decision was made because the Dalumi Group is an international company with a significant presence in Hong Kong.