Natural COLORS A Quarterly Publication of the NCDIA Volume 1, Issue 3 May 2013
Inside This Edition: Blue Diamonds Collector’s Corner: Green Transmitters Hope Diamond Members Impression
BLUE DIAMOND EDITION
Table of Contents HUE
HUE
gB
B
N at ur a l CO LO R S
Volume 1, Issue 3
vB
Saturation
May 2013
Faint
very light
Tone
light fancy light
Faint
fancy
intense
vivid
Board of Directors 2013
deep
very light
light
fancy light
fancy
intense
President Jeffery Post (Gem Platinum)
vivid
Deep
© 2012 NCDIA. All Rights Reserved
4
Vice President Alan Bronstein (Aurora Gems)
Blue Diamonds by Thomas Gelb
10 Collector’s Corner: Green Transmitters by Thomas Gelb
Vice President Sean Moore (Borsheims) Secretary/TreasureR Jordan Fine (Amgad,Inc) Scott West (LJ West Diamonds) Kristin Hanson (Kristin Hanson)
12
David Rosenberg (Rosenberg Diamonds)
In The News: The Bonhams Blue by Alan Bronstein
14 Hope Diamond by Thomas Gelb
Educational Director Thomas Gelb - tom@ncdia.com General Manager Gino Di Geso - gino@ncdia.com PRODUCTION OFFICE Lazar Advertising & Marketing 222 West 37 St., 6 Fl. New York, NY 10018 Tel: 212-889-9660 e-mail: brian@lazaradv.com
16 Members Impressions: A Dealer’s Perspective on Blue Diamonds by Eden Rachminov
18 NCDIA Membership Benefits
2
Cover Image - Natural Blue Diamond Ring Courtesy of Hartmann’s
48 West 48th Street Suite 1506 New York, NY 10036 (212) 644-9747 Fax: (212) 840-0607
Letter from the President It is with great pride and enthusiasm that we bring you Issue 3 of Natural Colors: The Blue Edition. Please take the time to educate yourself on one of the rarest, most sought after natural color diamonds. There has been tremendous growth and interest in membership of NCDIA (see member list on pg19). The NCDIA now has members from allover the world, including but not limited to China, Hong Kong, Australia, Israel and the Middle East. We continue to “educate and promote global awareness and desire for natural color diamonds” through our newsletters, web site and seminars. I would like to thank Tom Gelb, our director of education along with contributing members for their hard work on this useful publication. Enjoy this edition of Natural Colors and thank you for playing your part by making everyone’s world a naturally colored one.
Jeffery Post
3
Blue DIAMONDS Thomas Gelb, G.G., MBA Educational Director NCDIA
T
he Hope diamond, perhaps the world’s most famous diamond, epitomizes the long and fascinating history of natural blue diamonds. Blue diamonds of greater than 5 carats are very rare—and are among the most expensive of all natural color diamonds. Given their rarity and value even quite small blue diamonds are being snapped up by collectors. The only mines that seem to produce strongly colored blue diamonds with any regularity are the Cullinan (formerly known as the Premier) mine in South Africa and the Argyle mine in Australia. Treated blue diamonds are quite readily available and are frequently mass marketed, but often without proper disclosure. It is therefore vital that all blue diamond get a report from a well-qualified grading laboratory. Readers of this article should be able to gain valuable insights into all aspects of these amazing diamonds.
Mining Blue diamonds have been found all over the world. The Hope diamond, a very large gem of 45 carats that is a very strongly colored rich deep blue was found in the Golconda region of India, and brought to Europe in the 17th century, for more information see page 14. Blue diamonds have also been found in Southern Africa, South America, Indonesia, and--with a slightly different hue and cause of color--Australia. While both Australia and Southern Africa seem to produce blue diamonds with some regularity, the volume of blue diamonds is generally quite small – certainly less than 5% of all natural color diamonds-- in any given year. Recently, bluish diamonds have emerged from Zimbabwe in larger quantities than previous years. However, these usually have a greenish component due to natural irradiation--rather than the boron that is the typical source for the blue in blue diamonds--and when the color gets strong a green component becomes more visible. The Kawore mine in Botswana has recently produced a number of blues as well. Other than the blue diamonds from Zimbabwe, there is no reason to expect any significant change in the yearly volume of these gems moving forward as the overall volume of diamonds decreases over time.
Selling While arguably the most famous diamond in the world (the Hope) is blue, this has not translated to significant overall demand for blue diamonds. Demand for blue diamonds is limited by their high prices and low supply. Unlike yellow or pink diamonds, they have
4
Natural COLORS
not entered the public consciousness. Another possible reason is that, beyond the Millennium collection by DeBeers, there has been no large effort at blue diamond promotion. At the wholesale level many blue diamonds are bought and sold through auctions and tenders. A great percentage of these diamonds are actually being re-sold into the market as the overall production is so low. Blue diamonds are really for a particular customer. Someone who is a connoisseur, has purchased diamonds in the past, and wants something truly unique. The prices are so high as to preclude the vast majority of people. See www.ncdia.com where we have started a conversation about increasing blue diamond promotion.
Origin of Natural Color Blue Diamonds The exact origin of the color of the vast majority of natural blue diamonds is well understood. There are three basic ways that a diamond can become blue, although one had been until recently by far the most common and is the focus of this article. At a basic level, a diamond of pure carbon will have no color because light will pass right through the diamond without anything in the diamond vibrating in the visible range. The vast majority of diamonds contain some nitrogen within the crystal structure. When nitrogen bonds with carbon, an electron is freed to vibrate and will often absorb some light, causing a color to appear in a diamond. In the majority of blue diamonds, there is no detectable nitrogen in the infra-red spectrum, thus they are categorized as Type II. Further, these diamonds have some boron in their structure and have been further defined as type IIb. When boron replaces a carbon atom within a diamond it causes an increasing absorption of light from blue through yellow and red, leaving the diamond with a blue overall color. This is the type of diamond that most people think of when they think of blue diamonds, The Hope is of this type, and gems of this type have been found all over the world. In general, the larger the number of boron atoms present in the crystal, the stronger the blue color.
prevalent in the marketplace, as mentioned earlier. In the stronger saturations (Fancy and above) these can be even more rare than the argyle blues.
Clarity, Phosphorescence, and Electrical Conductivity In terms of clarity, type IIb blue diamonds are generally quite clean. According to a Gems and Gemology study from 1998, 84% of blue diamonds analyzed were VS clarity and higher. This result, however, may be a bit skewed towards the higher clarity diamonds, as GIA reports of lower clarity diamonds omit all grading beyond color, and thus those diamonds would have been excluded from the study. However this study confirms that author’s observations that most type IIb diamond are relatively clean, compared to their type I counterparts. This may be related to the fact that the lack of nitrogen in type II diamonds leads to no obvious cleavage directions, so fractures are not very common. Also these blue diamonds do not have common mineral inclusions seen in diamonds, the current belief is that those few internal inclusions are likely sulfides which are uncommonly found in diamonds. The other two less common blues (Hydrogen Argyle blues and naturally irradiated) should follow the same breakdown as a typical type I diamond, with higher clarities being much more rare than lower.
There are two other ways that natural blue diamonds can occur. The so-called “Argyle blues” owe their color to hydrogen in the crystal lattice. The hydrogen causes a strong, broad absorption in the yellow region of the spectrum which also absorbs some of the red region. This leaves a diamond to transmit a blue color, usually with a weak red component, and the result is most commonly seen as some combination of blue, violet and gray. However, in some rare instances these diamonds can appear bluer, and are graded as such. These diamonds are found exclusively at the Argyle mine in Australia. While there is a steady flow of these diamonds, the production numbers are very low. Finally, very rarely blue diamonds can be the result of natural radiation. While the vast majority of radiation colored diamonds are green, or some combination of blue and green or yellow and green, a very few of them have no green component and are simply blue. Radiation causes a strong absorption in the red region of the spectrum, so strong that it also absorbs some of the yellow region, leaving green and blue to be transmitted. Usually, there is also some absorption of the blue region caused by nitrogen and the diamond is mostly green. In very rare instances there is little to no nitrogen absorption and the radiation absorption continues toward the green region of the spectrum leaving a pure blue diamond. In the weaker saturations (Faint to Fancy Light) these are becoming quite
The three diamonds shown have the three most common blue color causes. From left to right: Natural Radiation, Boron, Hydrogen. Courtesy of GIA.
The Wittelsbach-Graff (left) and the Hope Diamond (right) phosphoresce almost the same strength and color. During the first second after the Ultraviolet lightsource is removed, the phosphorescence of the WittelsbachGraff appears to spike and the back off to equal the Hope’s phosphorescent glow. Courtesy of the Smithsonian Institute. One of the more interesting aspects of type IIb blue diamonds is their reaction when exposed to short wave ultra violet light (SWUV). It is common that after exposure these diamond glow, or phosphoresce. The most well known example of this phenomenon is the red phosphorescence of the Hope diamond, which is quite strong and long lasting. The author had the great pleasure to examine this phenomenon in the course of his work at the GIA. It is a very striking example, and adds to the allure of that most famous diamond. The cause of this reaction is related to the movement of electrons in the crystal structure of a blue diamond. When a diamond is subjected to SWUV radiation (which is a form of energy) free electrons are moving around within the diamond. This is similar to fluorescence that is seen in a great many diamonds. The difference here is that when the energy is turned off the electrons continue to move around, with decreasing intensity as time moves forward. Thus they glow for a period of time. Some have speculated that the length of time may be related to the amount of available places for the electrons to move to, i.e. the number of boron atoms
Natural COLORS
5
within the diamond itself. The fewer locations for the electrons to move to the longer lasting the phosphorescence. Thus the relationship between the amount of boron and the length of phosphorescence seems to be inversely proportional. As with all rules of gemology there are exceptions, and the Hope seems to be one of these. Given the strength of color the Hope exhibits one would expect there to be little to no phosphorescent reaction, but clearly this is not the case.
way blue diamonds absorb light can also produce a different look under various lighting conditions. If a blue diamond is put under a standard incandescent bulb, the diamond may appear more gray or darker than in a different lighting environment. Many blue diamonds look their best under similar lighting conditions as the GIA uses for its grading process. We suggest using a daylight equivalent bulb rated at 6500K in your sales of these diamonds. It will bring out the blue in the gems.
Blue diamonds are the only diamonds that conduct electricity, this is also related to the boron in the crystal structure, and is unique to type IIb blue diamonds. When an electrical current is applied to a blue diamond one can occasionally see the electricity arcing through the diamond, looking similar to lightening. There may be practical, non-jewelry, applications for this, and there have been more and more synthetic blue diamonds being created each year. Later in this article we will discuss separating the natural from the synthetic.
Blue color range The range of color in blue diamonds is very narrow, with much of the appearance difference related to tone (lightness or darkness of color) rather than saturation (strength of color). While the terminology with blue diamonds is the same as for other colors, the appearance differences are less distinct, and the grade ranges are smaller. The GIA color grades for blue diamonds begin at Faint and, as their saturation increases, run through Very Light, Light, Fancy Light, Fancy, and Fancy Intense, to Fancy Vivid. Diamonds that are darker in tone may receive grades of Fancy Dark (Weaker in saturation), or Fancy Deep (stronger in saturation). While there will always be diamonds at the edges of grade range boundaries such that two diamonds of different grades can look quite similar, the fact that blue color ranges are more narrow increases these possibilities. It is therefore less likely to have two blues of similar appearance with differing grades. Many new, lightly colored blue diamonds are appearing on the market from the Merange mine in Zimbabwe. Leaving aside the ethical issues associated with these diamonds, there is almost always a green component to their color. Since these diamonds are often lightly colored, the GIA system will sometimes describe their color as blue instead of green or greenish blue. This means that the volume of Faint through Fancy Light blue diamonds will include those blues caused by radiation along with the traditional blues caused by boron. Once a diamond has enough color to be described as Fancy, then a greenish component to the color would become more obvious and the GIA system would add a green to the color, such as Fancy greenish blue. Thus, blue diamonds graded Fancy or stronger will continue to be quite rare moving forward. In the images above you will note that the blue color range begins at Faint blue; any diamond that has less intensity than a Faint would receive a letter grade ranging from D-F. As blue diamonds get progressively richer, their color does not get very saturated. The strongest blue diamonds are much weaker than similarly graded yellow or pink diamonds. As the blue hue of a diamond gets darker in tone, and gray becomes more and more visible, eventually overcoming the blue in the diamond and producing a predominantly gray diamond. The grades for color diamonds are determined with a very specific grading methodology. For a detailed description of GIA color diamond grading please see previous Natural Colors issues. The
6
Natural COLORS
This GIA representation of the blue diamond color range is emblematic of the narrowness of blue diamond occurrence. Most of the appearance differences are related to tone or darkness of color.
A Word About Nomenclature The changes in saturation and tone discussed above are continuous. There is no obvious point beyond which a blue diamond has enough gray to be called Gray, or enough strength to be called Faint. As a result, nomenclature that establishes boundaries in the color space is necessary to develop a repeatable and consistent color grading system. The GIA system uses similar terminology to that of other color science-based systems, avoiding more common color terms or descriptors that may be imprecisely defined. Those in the trade are not bound to such conventions, and they use a wide variety of terms, such as “steely,”“sky,” or “deep ocean,” to describe diamonds that the GIA would call blue, gray, or some combination thereof. Use of these terms also can lend an aura of romance to the sale of blue diamonds which standard grading terminology generally lacks.
Cutting In general, blue diamonds are cut into all shapes. When one views a diamond the appearance can be described as having three components; brilliance, extinction and fire. Brilliance is the white flashes, extinction is the dark spots and fire is the rainbow like colors. As with most fancy colors round blue diamonds do not display their color very well because the modern round brilliant
Blue DIAMOND color reference chart
HUE
HUE
gB
B
vB
Saturation Faint
very light
Tone
light fancy light
Faint
fancy
intense
vivid
deep
very light
light
fancy light
fancy
intense
vivid
Deep
Š 2013 NCDIA. All Rights Reserved
Natural COLORS
7
is designed for colorless diamonds to maximize brilliance and fire. With blue diamonds the extinction can complicate this even more, as it can be perceived as gray color rather than a lack of color. It is very common for round blue diamonds to have a gray appearance and color grade due to this. Only very strongly saturated diamonds tend to be cut as rounds, since the loss of color will not be as much of an issue. Since there are fewer round blue diamonds than blues of other shapes, they can often command a premium. To a lesser extent, this is true of princess and emerald cuts as well. Shapes-and their relative availability--are often a considerable part of the sales process.
Detection: Treatments and Synthetics Artificially Irradiated Blue Diamonds While blue diamonds colored by radiation are not the focus of this article, the prevalence of treated blues and green blues makes it important to discuss their differentiation from natural irradiated blues. These diamonds almost always have a green component to their color, but this does not stop some in our industry from describing them as blue, even in their print advertising. And treatment disclosure is not always obvious, something which the NCDIA strongly discourages. A good starting point for separating natural vs. irradiated blue diamonds is the price. If it is too good to be true then it is probably treated. The difference in prices in these goods can be more than 1000 times more expensive for naturals. Gemologically distinguishing these diamonds becomes much more difficult after they are set in jewelry. The vast majority of these diamonds are irradiated at their culet. This leaves a tell tale color zone, which will follow the facet junctions. When the culet is obscured by the mounting it is very difficult to make this separation. As always, when making a large purchase please make sure that your diamond comes with a report from a major gem lab. High Pressure High Temperature Processing (HPHT) Currently the only possible method of treatment that will produce a type IIb blue diamond is to subject a diamond that already contains boron to high temperature high pressure (HPHT) treatment. This process will break the bonds between boron and nitrogen within the crystal lattice, allowing the boron to affect the color. Since this material is quite rare naturally, this type of treatment is relatively rare, and detectable by major gemological laboratories. There are no tell-tale practical gemological clues to separating natural from HPHT treated blue diamonds. The only feature which one can possibly use is the color. From this author’s experience some HPHT treated blues exhibit a strongly saturated, yet lightly toned color which is unusual in natural type IIb diamonds. While this is certainly not a definitive test, one should be wary of these color diamonds, and demand a lab report.
instead has color visible in wedges should be highly suspect. This growth is also commonly visible under UV light, specifically short wave. Another detection method is to view the inclusions (if any) within a diamond. The most common inclusions are metallic, which have very high relief (brightness). Also common are tiny pinpointlike inclusions (also metallic) that are unusually arrayed within a synthetic diamond. Unlike natural diamonds, these inclusions appear evenly dispersed within a stone, while in natural diamonds they are either part of clouds or by themselves in no coherent pattern. Finally, synthetic blue diamonds often display very strong and persistent phosphorescence that is quite uncommon in natural blues. This reaction can last many minutes and be visible in natural light, not just in the darkened room that is typical when checking UV reactions. Coating Another possible treatment is coating, in which a foreign substance is applied to the surface of a diamond to enhance or create its blue appearance. The only foolproof method available to the standard gemologist was—and still is—to use magnification, especially a microscope. On a clean, uncoated diamond surface, only polish lines should be visible under a microscope; anything else must be suspect. For example, a coated surface will often appear iridescent when light reflects off of it. Again, proof of natural origin must take place at the laboratory level, but the microscope method can help separate natural diamonds from those that may not be. The author has never seen a coated blue diamond, but that does mean they do not exist, so be vigilant. The Future of Blue Diamonds Blue diamonds (not including natural irradiated blues like those from Zimbabwe) should continue their relative slow and steady supply for the foreseeable future. Since they have been found all over the world (albeit in very limited quantities) one can predict their supply to remain small and consistent. The marketing of blue diamonds seems limited by their supply, and there is not one single entity promoting these magnificent gems on a wide level. The ease with which people can learn about these extraordinary gems has made it that much more important for all of us in the industry to educate ourselves. Presenting yourself as an expert on these diamonds will only be effective if you are, in fact, an expert. NDCIA provides this newsletter, the seminars, the NCDIA website, and all of our collateral information to help NCDIA members attain the necessary level of expertise to grow your businesses.
Synthetics Synthetic blue diamonds are currently on the market, and with some practice most of them can be detected using standard gemology. These man-made diamonds are grown in a different environment than their natural counterparts, and this growth is a key to their detection. The growth appears often in an hourglass shape when visible within a synthetic diamond. This type of growth pattern is extremely uncommon in a natural color diamond. Often, too, a blue diamond that does not have the classic color bands but Courtesy of Kristin Hanson
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Natural COLORS
Collector’s Corner
Green Transmitters By Thomas Gelb, G.G., MBA Image courtesy of Amgad
Readers of Natural Colors will note that most color diamonds we have discussed have traced the origin of their color to one specific cause. What we have not yet discussed is that there is often more than one cause of color within a diamond, a green transmitting diamond is such a case. Color in diamond is a function of the diamond itself and the light source used to illuminate it. Certain lights will cause a diamond to appear differently than others. Occasionally the strength of the light is also a factor. A green transmitter, is a diamond that has a green glow when a strong light with the proper wavelength is applied. This is most obvious in sunlight or a strong incandescent light (see figures below). This green glow is often so strong that it overcomes the bodycolor of the diamond, and can appear just green. When a less strong light is the illuminator there is a combination of green and the bodycolor, commonly yellow. Occasionally the green is too weak to be visible with normal lighting, and does not affect the color much at all. The cause of green transmission is a specific arrangement of nitrogen called an H3. The specific aggregation is thought to be caused by heat and pressure following the growth of a diamond while still underground.
Image courtesy of GIA
10
The majority of green transmitters have a yellow bodycolor. This is likely the result of the high concentration of nitrogen in yellow diamonds. The more the nitrogen, the more likely an H3 aggregation will occur. The strength of the green varies from diamond to diamond. In many cases it is so weak that only with a strong light and magnification does it become visible. In other cases (Figure B), it is strong enough to affect the GIA color grade; in this case the diamond was graded greenish yellow. The majority of diamonds graded as greenish yellow or green yellow by the GIA are likely green transmitters. These diamonds generally have a moderate to strong fluorescent reaction. This can be described as blue and yellow, or sometimes green. It should be noted that green transmission can also be caused by HPHT treatment and sometimes by irradiation and annealing. It is very important that these diamonds come with a certificate of natural color origin from a well-qualified gem laboratory. Green transmitters are generally only considered a category by gemologists who have the lighting and the knowledge to view them in their proper due, but by writing about them and starting this discussion (continued on our website: ncdia.com) we hope to enlighten the world about these under-appreciated gems. See www.ncdia.com where we have started a conversation about increasing blue diamond promotion.
Image courtesy of GIA
Rare and Exotic Natural Fancy Color Diamonds
Shelley & Co.
589 5th Avenue, Suite 1301, New York, NY 10017 Tel: + 1 212.869.8880 | Fax: + 1 212.937.4698 info@shelleyandco.com www.shelleyandco.com
IN THE NEWS... The Bonhams Blue by Alan Bronstein, Aurora Gems
Recently, one of the most beautiful blue diamonds that I have ever seen was sold at Bonham’s Auction House in London. I have taken the liberty to give it a name, “The Bonham’s Blue” since this essentially marks the official beginning of its historical journey. Throughout my 30 plus years in seeing blue diamonds in the market, auctions and private collections, this diamond in particular merits attention for its significance. While 5 carats is a large size for a diamond, there are more than a few blue diamonds that are larger than this stone. This particular stone had all the magic ingredient nature can endow for a spectacular blue diamond. To begin with, it was almost pure blue in tone though not extraordinarily dark, as the darker most blue diamonds get the more they begin to take on a blackish or over dark appearance. Starting with this intrinsic natural color in the diamond, the cutter of this diamond is a true Michael Angelo in the way he brought to the face-up color the maximum beauty of the blue. The master cutter knew that the large facets and the face-up color would combine for the best combination of color and brilliance. All color diamonds need to be cut to balance these most obvious traits. While I have seen many deep blue diamonds both larger and smaller, in my opinion most have touch of gray to black that is present in, even when the gemological description does not include gray in its color description.
5.3ct Fancy Deep Blue sold at Bonhams in April. What is so important about this diamond and the price paid by Graff, is that it was not the most coveted GIA grade of Vivid Blue, but Deep Blue. For some reason (marketers) there is a conception that Vivid Blue is more desirable than Deep Blue. This is a perception created by people who are not as experienced with the diamonds as they are with certificates. There are so many varieties, tones and shades of blue, and many deep blues have an over dark appearance. This diamond is significant because it sheds light on the importance to stress the beauty of a diamond rather than the lab description that defines it.
Blue Diamond Auction Results List Courtesy of Sotheby’s, Christie’s and Bonham’s
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House
Shape
Weight (ct.)
Color
Clarity
$/Carat
Total Price
GENEVA
CHRISTIE'S
MARQUISE
4.81
FANCY BLUE
VVS2
$351,767.00
$1,691,999.27
GENEVA
CHRISTIE’S
MARQUISE
5.38
FANCY BLUE
VVS1
$368,494.00
$1,982,497.72
11/30/04
HONG KONG
CHRISTIE'S
RECTANGULAR
14.81
FANCY LIGHT BLUE
VS1
$43,817.00
$648,929.77
6/30/05
NEW YORK
CHRISTIE'S
MARQUISE
6.21
FANCY BLUE
SI2
$223,510.00
$1,387,997.10
6/30/05
NEW YORK
CHRISTIE’S
CUT CORNERED RECTANGLE
20.17
FANCY BLUE
VS2
$490,952.00
$9,902,501.84
10/7/07
NEW YORK
CHRISTIE'S
MODIFIED RECTANGULAR
5.07
INTENSE BLUE
VS2
$569,191.00
$2,885,798.37
10/8/08
NEW YORK
CHRISTIE'S
RADIANT
7.02
INTENSE BLUE
VS1
$514,316.00
$3,610,498.32
12/1/08
LONDON
CHRISTIE'S
CUSHION
35.56
DEEP GRAYISH BLUE
VS2
$682,284.00
$24,262,019.04
4/1/09
HONG KONG
SOTHEBY'S
MARQUISE
4.37
FANCY GRAY-BLUE
VVS1
$161,236.00
$704,601.32
4/1/09
HONG KONG
SOTHEBY’S
PEAR
19.45
FANCY GRAYISH BLUE
VS1
$169,794.00
$3,302,493.30
10/31/09
NYC
CHRISTIE'S
PEAR
19.45
FANCY GRAYISH BLUE
VS1
$169,794.00
$3,302,493.30
10/31/09
HONG KONG
SOTHEBY'S
EMERALD
8.74
INTENSE BLUE
VVS1
$651,190.00
$5,691,400.60
11/1/11
GENEVA
CHRISTIE'S
MARQUISE
7.62
LIGHT BLUE
IF
$141,872.00
$1,081,064.64
12/14/12
Geneva
SOTHEBY’s
Briolette
10.48
Fancy Deep Blue
F
4/24/13
London
Bonham’s
Cushion
5.3
Fancy Deep BLUE
VS2
Date
City
5/1/04 5/1/04
$1,038,037.00 $ 10,879,359.82 $1,800,000.00
$9,540,000.00
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The Hope Diamond By Thomas Gelb, G.G., MBA
T
he Hope diamond is unique in many respects, from its history to its gemology. If there was no history attached to this magnificent diamond it would still be famous. It is one of the two largest blue diamonds ever found. The color is exceptionally deep and rich. The red phosphorescence is very unusual and dramatic. In short, it is truly exceptional. The history of the Hope is what makes it the most famous diamond in the world. Originally brought to the West from India by Jean-Batiste Tavernier in the 17th century, the diamond has gone through many illustrious hands before reaching its current home. First dubbed the “French Blue” the diamond was part of the royal jewels of France after being sold to the Sun king, Louis XIV. It was cut into a triangular shape and weighed 67 1/8 carats. It was described as “Intense SteelyBlue”, and remained part of the crown jewels for about 125 years. In 1792 during the French revolution the diamond was stolen. After the revolution it disappeared from sight for a few decades. In the early 19th century a cushion shaped diamond appeared on the market which, while much smaller, was immediately thought to be the French Blue recut. It may have been purchased by King George VI of England. Upon his death in 1830 it seems to have been sold privately to pay some personal debts. It next turned up next in 1839 in the inventory of Henry Phillip Hope at the time of his death. It was passed through his family until the turn of the century, again to discharge debts. It then went through the hands of a number of different jewelers until it was sold by Cartier to Evalyn Walsh McLean in 1910. At her death in 1949 it was sold to Harry Winston, who spent the next 10 years displaying it various exhibitions and museums. In 1958 Mr. Winston donated the diamond to the Smithsonian Museum in Washington D.C. where it has remained ever since, becoming the most popular attraction in that storied institution. Having started out in India, where it probably was owned by royalty, through the French and British royal families, along with some of the most famous people in the jewelry industry, this amazing gem has history dripping from its facets.
14
Gemologically the Hope is remarkable. Of strongly colored blue diamonds it is by far the largest, next in line is the Wittelsbach at 33 carats. Its steely blue is a sight to behold, and the color to which all blue diamonds are compared. Reminiscent of the rich blue color of the ocean, its color grade of Fancy Deep Blue further distinguishes it from the vast majority of blue diamonds. Its clarity grade of VS2 is a function of some chips on the girdle edge, which is not surprising given all of the diamond’s trials and tribulations. There are no internal inclusions, so, if one were crazy enough to repolish it, it could be flawless. It is also very well cut for an early 19th century diamond, with a pleasing cushion outline and exceptional symmetry. It has a very strong red phosphorescent reaction which is beautiful in and of itself, but it also quite rare for any color diamond. Quite interestingly the Wittelsbach also has a strong phosphorescent reaction, which has led some to speculate that they may be from the same mine or even the same rough! With its history, size, color, clarity and phosphorescence the Hope is the most famous diamond in the world, and it is a deserved reputation. I encourage all to see it, since the vast majority of famous diamonds are held in private hands and unavailable to the public.
The Wittelsbach-Graff (left) and the Hope Diamond (right) phosphorescent glow. Smithsonian Institution, Photos © Tino Hammid, Los Angeles
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Member Impressions A Dealer’s Perspective on Blue Diamonds by Eden Rachminov When I was asked to write an article about natural blue diamonds from the perspective of the Israeli market, I wasn’t really sure about what to write. Blue diamonds are such an incredibly rare phenomenon, with minimal statistics available and only 2-4 important gems presented to the market annually. I offer you my own personal point of view as a fancy color diamond manufacturer and wholesaler. Before beginning, I should mention a few hard facts about these rare gems. The substance that absorbs the yellow light and creates the blue color that we see is the element boron. Blue diamonds are the hardest heat and electricity conductors on the planet. Another interesting fact: For every 100 Picasso paintings offered for sale at auction, one can find only a single natural blue diamond to purchase. Interestingly enough, blue diamonds typically do not fluoresce unless they originated in Zimbabwe. The main thing that concerns us wholesalers is how and where to locate these diamonds and what is the right price to pay for them. In my opinion, over the last decade, prices for natural blue diamonds have been steadily rising at between 12-17% yearly ─ at all saturation levels from “Fancy light” to “Fancy vivid.” Vivid blue diamonds greater than 3 carats achieve numbers in excess of $1,000,000/carat. In recent years, the supply of blue diamonds has been constantly diminishing, while awareness and demand have simultaneously risen. This combination has caused vivid blue diamond auction prices to repeatedly break records. We have seen a ripple effect of this throughout the supply chain. There have been only a handful of significant blue diamond discoveries in recent years, most of them attributed to Petra
“For me, blue is a calming color that exudes harmony and balance. It’s a beautiful color and it never goes out of fashion.”
Diamonds, with the most significant source of blue diamonds being its Cullinan Mine: 1. The most recent discovery was of a 25.5-carat stone
2. A 26.6-carat blue rough diamond, discovered in October 2008 This important diamond yielded a cushion-shaped cut stone of just over 7 carats, and achieved the highest color and clarity grading for a blue diamond, being fancy vivid blue and internally flawless. Petra sold this perfect gem through Sotheby’s in 2009 for US$9.49 million, or US$1.35 million per carat, which at the time was the world record price per carat achieved for any gemstone at auction. This exceptional blue is now known as The Star of Josephine. 3. A deep-blue diamond was auctioned for $10.8 in 2012. And these are just a few highlights….
Another historically known source of blue diamonds is the legendary Golconda mine in India that is known to have produced such famous blue diamonds as the Hope, the WittelsbachGraff (previously the Wittelsbach) and the Tereschenko. The Israeli market is currently one of the world centers for 25.5 carat Blue found at the Petra’s Cullinan fancy color diamond mine. Photo courtesy of Petra Diamonds manufacturing, and for polished blue diamonds of up to 3 carats in particular. The larger gems are also manufactured in New York or Antwerp. As for the diamond cutters who have mastered the cutting of natural blues, there may only be three or four worldwide who are sufficiently experienced to extract the inherent, true beauty from the original rough stones.
- Shaul Cohen, Novel Collection
“We have a number of blue diamonds in stock and I am particularly fond of the color because it reminds me of the beauty of the sky and the ocean. Even though I am happy when I sell one, I am sad to see them go for I may never be able to replace them.” - Eli Noor, Eli & Co, Inc.
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Courtesy of Rachminov Diamonds 1891, house photographer Ayelet Sarig
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Join the NCDIA Today. The NCDIA is a not for profit organization whose mission is to educate and promote global awareness and desire for Natural Color Diamonds. Below is a list of some of the benefits of being an NCDIA Member:
Natural COlOrS A Quarterly Publication of the NCDIA
Volume 1, Issue 3 May 2013
N A T U R A L C O L O R D I A M O N D S Deep
Vivid
Inside This Edition: Blue Diamonds
Intense
N A T U R A L C O L O R D I A M O N D S
Fancy
Fancy Light
Light
Vivid
Intense
Fancy
Light
Collector’s Corner: Green Transmitters Hope Diamond Members Impression
BLUE DIAMOND EDITION
•NCDIA Sales Collateral Pack •Seminars on Natural Color Diamonds •Quarterly “Natural Colors” Newsletter •Consumer Website with Retail Locater •Education and Sales Training •Public Relations •Marketing and Social Media •Product Sourcing
“I had the privilege of speaking at the NCDIA Blue Diamond Seminar and felt that while there is significant interest in natural blue diamonds, people including industry members are not so familiar with the various shades of color which can be visually quite attractive and rare for blue, but rather rely on certificate grading.They assume modifiers act negatively towards the stone, yet in reality it can influence the color appearance in a positive way by having more strength and obvious tone, which counts a lot.” - Elan Ben-David, Ishay Ben-David
To join the NCDIA call us at 212-644-9747 or visit us online at ncdia.com 18
2013 NCDIA Honorary Members
NCDIA Member List 2013 NCDIA RETAILER LIST
NCDIA Wholesaler LIST
Addessi Jewelers...........................................................USA Alex & Co, Inc..................................................................USA Black Starr & Frost....................................................USA Borsheim’s........................................................................USA Brown Goldsmiths.......................................................USA Clodius & Co. Jewelers..............................................USA Denney Jewelers...........................................................USA Dhamani........................................................................ Dubai Ecksand Natural Color Diamonds............Canada Eli & Co, Inc. .....................................................................USA Gaston Bijoux.................................................................USA George Walton’s Gold & Diamond Co................USA Gundersons Jewelry...................................................USA Hartmanns.......................................................... Denmark Hyde Park Jewelers.....................................................USA Jonathan K Jewelry.....................................................USA Jurassic Jewelry..............................................Shanghai Kristin Hanson...............................................................USA Leonards Whole Diamonds...................... Australia Marbill Jewelers..........................................................USA Masson Abram.................................... United Kingdom Michael Greene & Co...................................................USA Molina Fine Jewelers..................................................USA Mondial Neuman Jewelers....................... Australia R.C. Wahl Jewelers........................................................USA Rico Gems (Shanghai).....................................Shanghai Rosenberg Diamonds..................................................USA Sarah Leonard Fine Jewelers................................USA Smyth Jewelers.............................................................USA Solomons Jewelers.....................................................USA Solomons Brothers Fine Jewelry........................USA Vivid Diamonds...............................................................USA Wick and Greene Jewelers.......................................USA Yves Frey Diamonds, Ltd............... United Kingdom
Addessi Jewelers...........................................................USA Almor Designs................................................................USA Amadena LLC....................................................................USA Amgad.................................................................................USA Aurora Gems....................................................................USA Carats........................................................................Canada Cora Intl., Inc..................................................................USA Dana Augustine, Inc.....................................................USA Diarough, N.V. (Antwerp)............................... Anwterp Diarough, N.V. (USA)......................................................USA Emby-US...............................................................................USA Fancy Jewels................................................................India Finesse Diamonds Corp...............................................USA Firestar Diamonds.......................................................USA Galaxy, USA......................................................................USA Gem Platinum..................................................................USA Gemcut, S.A................................................... Switzerland Gemelody..........................................................................USA Glajz-THG PTE, Ltd.......................................... Singapore Global Diamond Group..............................................USA Goldstein Diamonds....................................................USA Guildhall Diamond Inc....................................Canada Herszaft & Rachminov Diamonds Ltd..........Israel Ishay Ben-David..............................................................USA Julius Klein......................................................................USA Labios Trading...........................................................Japan Le Vian.................................................................................USA Leibish & Co................................................................Israel LJ West Diamonds..........................................................USA Luxury Diamonds..........................................................USA Maidi Corp.........................................................................USA Manak Jewels..................................................................USA Marc Lazar......................................................................USA Nice Diamonds.................................................................USA
Novel Collection.........................................................USA OM Diamonds...................................................... Thailand Optimum Diamonds, LLC.............................................USA Peled Lev Diamonds Ltd......................................Israel Prijems................................................................................USA Priti Gems.......................................................................India Rachminov Diamonds 1891..................................Israel Raphah Inc........................................................................USA Rio Diamond.....................................................................USA Rio Tinto Diamonds.......................................... Anwterp Sethi Couture.................................................................USA Shelley & Co, Inc...........................................................USA Yael Designs.....................................................................USA YNY Fine Jewels..............................................................USA
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