77 Days A Week: The Week in Review 31st Jan – 04th Feb
Monday
As chilly January turned to gloomy February last week, a startling statistic came to light. According to the National Retail Federation in America, US shoppers are going to up their jewellery spends by 17% this year. Indeed, their predictions may be true as hot young Hollywood couple Ashley Greene and her Jonas brother boyfriend were spotted picking out eternity rings; while on this side of the pond Kate Middleton and Prince William are thought to be taking their second-hand engagement ring to the Scilly Isles.
Tuesday
The beginning of the week saw the sad passing of one of film’s greatest composers. John Barry who had written the score for eleven Bond films, including Diamonds Are Forever, died aged 77.
Wednesday
Conflict diamonds took centre-stage on Wednesday with reports that President Mugabe would benefit from sales of a new Zimbabwean mine. Meanwhile, Naomi Campbell, who suffice to say has had her fair share of diamond-related conflict took to Gents mag GQ to talk about her brush with them.
And speaking of making your bed... diamond-designer Stuart Hughes unveiled his latest diamond-encrusted confection – a diamond double bed. The perfect companion to this week’s diamond Blackberry.
Thursday
Thursday got a lot of auction action. Sotheby’s revealed that their Important Jewels sale in New York raked in nearly $9million, while the Screen Actors Guild finished their annual SAG auction. Manwhile in London, Christie’s previewed the 2011 auction highlights which included a fair few sumptuous jewels. Click here to see them.
Friday
Following Campbell’s revelations about her own diamond gaffs, LiLo became a repeat offender when it was revealed that she was under investigation for fine jewellery theft... Meanwhile Manolo Blahnik cashed in on his rep with a diamond pendant and fashion stalwart Kate Moss finally put paid to those engagement rumours by announcing that she IS actually engaged. Official-like.
By Hannah Powell
Christie’s Magnificent Jewels Auction Highlights 2011
Christie’s annual Magnificent Jewels auctions always attract the crème de la crème of the jewellery, design and art world, not to mention a fair few celebs with a deep pocket or two. It seems that 2011’s sales will be no different after the St. James branch of the world renowned auction house, exhibited a selection of the jewels that will go under the hammer before June.
The preview only included 9 pieces but what pieces they were. The lot was a fabulous array of rare diamonds and intricately designed jewellery that was nothing short of other-worldly.
The most distinctive item on display was the perfect heart-shaped diamond. Un-mounted and weighing in at a staggering 56.15ct, the heart diamond’s impressive credentials – D IF (D refers to the best colour grade possible, while IF references one of the top clarity grading’s meaning that the diamond is Internally Flawless) – proved exactly how perfect it really was. It’s estimated to go for a sum between $9m-$12m and judging from the cooing it garnered in the gallery last Wednesday, it’s sure to reach at least that.
It wasn’t just the large heart that impressed. There was also a selection of four coloured and colourless loose stones which were simply sublime. The biggest was the 42.38ct cushion-cut Fancy Intense Yellow diamond that sat proudly on its mount, dwarfing the much smaller stones. However, not to be outdone, the 12.92ct cushion-cut Fancy Vivid Yellow, 5.37ct pear-shaped Fancy Pink and 5.03ct cushion-cut diamonds proved how incredibly breathtaking precious gems can be.
The jewels of Wallis Simpson
As I sat in Sotheby's eponymous South Gallery in New Bond Street last week, awaiting the crowds to filter into the auction of 'Exceptional Jewels and Precious Objects Formerly in the Collection of the Duchess of Windsor', I considered what had made so many turn out on one of the most bitterly cold evenings London had seen in months.
Of course, the jewels themselves held obvious appeal and the historical nature of the pieces attracted more than the usual crowd of jewellers and private collectors. Indeed, last Tuesday saw the second ever such auction of Wallis Simpson’s jewels, its only predecessor being the famous Geneva sale in the Eighties which saw celebrities and royalty battle it out in furious bidding wars. However, as the obligatory front row of fur coats took their seats, I tried to put my finger on what it was about Simpson’s jewels and keepsakes that so enchanted and then of course it dawned on me; it was not so much the jewels but rather the woman who had owned them. That woman, the enigmatic American, who at once beguiled and inspired revulsion in the same measure, a figure so iconic, she could still capture the attention of the world’s media nearly twenty-five years after her death.
I became even more determined in my resolve when I reconsidered the pieces in the collection, recalling how I was most struck by the gold and gem-set cigarette case engraved with a map of Europe. Even sat alongside the diamond, emerald and onyx panther - which would sell for £4million merely hours later - it was this simple cigarette case that stood out like a beacon. In a hugely romantic display of affection, Simpson had the map inscribed with the names of locations, each pin-pointed with a gem or diamond and connected with red or blue enamel lines, depending on whether the journey was by sea or land. Although somewhat of a twee item in itself, the true beauty of the cigarette case was that it mapped out the logistics of a love affair. In spite of the fact that it scandalised a nation and nearly threw the British monarchy into disrepute, for me, that cigarette case encapsulated the appeal of the entire auction, imbued with emotion, these jewels and keepsakes document one of the most famous, controversial and historical love affairs in history.
a DIAMOND in the HAND is worth…5 reasons to INVEST in DIAMONDS!
Marilyn Monroe and Shirley Bassey were onto something with all that diamonds are forever business. Besides the fact that they won’t leave you in the night, that they never lie, and that they’ll lustre on even when love’s gone...here are five reasons WE think you should invest in diamonds:
1. DIAMONDS DON’T GROW ON TREES YOU KNOW
They “grow” in mines. And there aren’t many of those around. Diamonds can only be found in a handful of places and most of the diamond mines have already been exploited. Which is to say, eventually all the sources will have been exhausted...oh, alright I’ll put it in business speak, demand will exceed supply...and when that happens, er, you’re probably better off being on the supply end.
2. CUT THE CRUNCH
We all know that diamonds are the only thing hard enough to cut glass, but they are also one of the only investments hard enough to cut the credit crunch. Well, to be fair, the diamond industry did suffer its own lashes and slashes during the economic crisis, but studies conducted by The DeBeers Group prove that diamonds performed better than any other luxury sales in that catastrophic year that was 2008. Yep, better than watches, better than yachts, better than Crème de la Mer. Who needs moisturizer when you have diamonds!
3. BECAUSE THE FT SAYS SO
Oh come on, you know you blindly trust the FT and paraphrase their articles whenever you’re lacking in something finance-savvy to say! An article entitled “Sparkle returns to the diamond market,” published in the FT earlier this year assures investors that the diamond market is back on its feet, and recommends investing in “loose diamonds of 5 to 20 carats with grading certificates,” adding that “blue, pink, yellow and red hues are sought-after.” Being “in the red” just took on a whole new meaning...
4. TRAVELIN’ LIGHT
Good things really do come in small packages. Diamonds are one of the most concentrated forms of investment that exist. Wouldn’t it be nicer if you could carry all your assets in your pocket rather than annoy your neighbours with all the cases of wine you’re storing outside your door?
5. HAVE YOUR CAKE AND EAT IT TOO
Unlike that country house in the Cotswolds you invested in that you neither rent out nor visit as often as you planned, and unlike that case of ’65 Bordeaux that ceaselessly calls your name begging you to drink it...you can wear your diamonds all you want without the worry of them running out or losing value, without the guilt, without the hangover. This, if anything, is what it means to have your cake and eat it too.
Of course, when you have diamonds in your possession, there’s always that little risk of getting called in testify against a war criminal, but then again you could always say you thought they were just “dirty little stones.” And actually, if you buy them from Seventy Seven Diamonds –you can be sure they’re conflict free. Yes, here at Seventy Seven, we believe the best things in life are (conflict) free.
Please call us on +44 (0) 207 631 5304 should you wish to learn more or consult with one of our diamond experts regarding investment opportunities.
Global Trends in Diamond Demand
There is debate whether the diamond industry is a manufacturing, natural resource, or a consumer industry. Many factors contribute to the rise and fall of diamond production and purchase which can be reviewed as global demand trends.
According to the IDEX Online Polished Diamond Price Index, average day-to-day polished diamond prices have remained steady for the last eight consecutive months, rising a mere 0.1 percent in November month-over-month. The IDEX Online Diamond Price Index is a real-time index constituted from actual asking prices in the global diamond industry: it therefore objectively reflects price trends as they occur.
Whilst rough diamond prices are higher, consumer demand for diamonds and diamond jewellery has been tenuous for over the past year which has kept polished diamond prices low. Year-over-year prices have dipped for polished diamonds for the past eleven months and prices remain 10.1 percent below last year’s average.
What are conflict free diamonds and where are they sourced?
As defined by the United Nations Security Council, “Conflict Diamonds are rough diamonds used by rebel movements or their allies to finance conflict aimed at undermining legitimate governments”. Conflict diamonds, also named ‘Blood Diamonds’, have fuelled conflict, civil wars and human rights abuse around the world, ultimately leading to countless innocent lives lost. Hence, conflict free diamonds are diamonds that have been certified to prove that they have no part in this movement, nor do they fund any such activities.
Statistics illustrate the shocking realities of the affects of conflict diamonds globally. Countries including Angola, Democratic Republic of Congo, Sierra Leone and Liberia have all been victims of brutal civil war resulting in countless fatalities. The Democratic Republic of Congo was only recently free of the civil war, which lasted between 1998-2003. There is, however, still continued insecurity over the safety and stability of the country. More than 3.3 million people were violently killed as a result of rebel groups, who were supported by neighbouring countries, competing for diamond areas in the northeast.
Recessions come and go; a Diamond is Forever
This time last year the sparkle of a diamond really did dull, in economic value terms. The global impact of the recession had hit the luxury sectors hard, leading ultimately for a loss in purchases and demands of diamonds, both rough and polished.
Figures for last year revealed astonishing losses. As obtained from Gem Diamonds, a London-listed miner, the average price per carat of a rough diamond fell from about $2,500 to $1,400. The panic was apparent when news broke of a meeting between DeBeers and Alrosal, the Russian mining group, in the diamond capital of the world, Antwerp, to attempt to tackle the falling prices. All eyes were turned towards America, who ordinarily account for half of all of the diamonds consumed around the world. December 2008 showed a 20% drop in sales around the Holiday season in America, as well as figures slumping globally.
Follow Us!
Recent Posts
- The Millennium Star
- Coloured Diamonds
- Ring Sizing: How to Get it Right!
- The Perfect Christmas Present?
- The Perfect Accessories for Autumn/Winter Part II
Categories
- About Us
- Advice
- Auction
- Celebrity
- Charity
- Education
- Fashion
- Getting Engaged
- Market News
- Promotion
- Uncategorized
Useful Links
- No Tweets Available