SPRING 2015
ISSUE 28
SPRING 2015 ISSUE 28
A RAINBOW OF SAPPHIRES MONTANA’S MINING GOES COMMERCIAL Sooner or later, the world’s most extraordinary gems will cross paths with
RaHul KadaKia. Here, Christie’s Senior VP, Head of Jewelry Americas, shares priceless insight into the jewelry business and the value of an expert education.
A master eye for gems … born or made? Coming from four generations of jewelers undoubtedly piqued my interest in this great business. But one needs to constantly train their eye by looking at gems – the more you learn, the better you will be at identifying and pricing gems, as well as being an effective salesperson and well-rounded businessman. Something most people don’t know about you. GIA is what brought me to Christie’s. After studying in Santa Monica, I attended a GIA Career Fair where I had my first interview with the company.
Ok. Definitely a story there? I started work when I was 17 and five years into it, I thought I knew pretty much everything there was to know … until I enrolled at GIA. The Institute’s meticulous training and high standards exposed me to a whole new world of expertise.
Ultimate sales edge … emotion or expertise? Jewelry is an emotional shopping experience, but expertise plays a decisive role. It’s wonderful to show people a brilliant diamond, but it means more when you can follow up with a skillful explanation of the 4Cs exemplified in that particular gem.
Lean economy. Less jewelry? At the nexus of the downturn in late 2008, we sold the Wittelsbach Blue Diamond for $24 million, a world record price back then for any gem ever sold at auction. When you have great gems and jewels, the money makes itself available.
Any advice to the up and coming? Don’t lose the passion that brought you to this business, and above all, keep learning every day.
Identifying Global Pink Diamond Sources Oiled Gems Lab Update
GIA gratefully acknowledges those who use our resources to further world expertise in gems. Invest in your success at www.giA.eDU
A Journey Into Ethiopia’s Black Opals
PWK
PWK
Exceptional Gemstones AGTA GemFair Tucson Booth 501
AGTA Gemfair Las Vegas Booth 305
June Hong Kong Grand Hall A12
September Hong Kong AWE Fine Gem Pavilion 9E38
info@bandbfinegems.com | 800.662.8440
SPRING 2015
ISSUE 28
SPRING 2015 ISSUE 28
A RAINbow of SAPPhIRES MONtANA’S MINING GOES COMMERCIAL
SPRING 2015 ISSUE 28
Sooner or later, the world’s most extraordinary gems will cross paths with
RaHul KadaKia. Here, Christie’s Senior VP, Head of Jewelry Americas, shares priceless insight into the jewelry business and the value of an expert education.
or gems … born or made? Coming from four generations of jewelers undoubtedly piqued my interest in this great business. But one needs to constantly ooking at gems – the more you learn, the better you will be at identifying and pricing gems, as well as being an effective salesperson and well-rounded businessman.
ost people don’t know about you. GIA is what brought me to Christie’s. After studying in Santa Monica, I attended a GIA Career Fair where I had my first
e company.
a story there? I started work when I was 17 and five years into it, I thought I knew pretty much everything there was to know … until I enrolled at GIA. eticulous training and high standards exposed me to a whole new world of expertise.
s edge … emotion or expertise? Jewelry is an emotional shopping experience, but expertise plays a decisive role. It’s wonderful to show people a
, but it means more when you can follow up with a skillful explanation of the 4Cs exemplified in that particular gem.
y. Less jewelry? At the nexus of the downturn in late 2008, we sold the Wittelsbach Blue Diamond for $24 million, a world record price back then for any auction. When you have great gems and jewels, the money makes itself available.
the up and coming? Don’t lose the passion that brought you to this business, and above all, keep learning every day.
Identifying Global Pink Diamond Sources Oiled Gems Lab Update
A gratefully acknowledges those who use our resources to further world expertise in gems. Invest in your success at www.giA.eDU
A Journey Into Ethiopia’s Black Opals
Cover image: Polished Sapphires from Potentate Mining’s Rock Creek Mine in westcentral Montana. All sapphires are natural (not heated) or heat-treated ranging in size from 0.65 carat to 5.70 carats. Included is a 4.70carat round natural blue sapphire and a 3.04carat cushion-cut natural blue sapphire and a 0.65-carat Padparadscha sapphire. (Kenneth Lutz Collection. Photograph by Jeffrey Scovil) 2/20/13 11:56 AM
14/04/2015 13:33:35
CONTENTS Foreword Industry News 32
6 8 11 12 16
Tanzanians Acquire Tanzanite One’s Stake In STAMICO Zambia Raises Mining Royalty Tax Despite Miners’ Complaints Gemfields Posts 57% Jump in Revenue GILC Discusses Wide Range of Issues at Tucson Show SSEF Opens State-of-the-Art Lab in Basel
Gemology
46
18 24 28 32 42
Lotus Gemology Lab Alert for Oiled Gems Justifying Gem Testing Reports Reviewing The GemmoRaman-532 The World of Pink Diamonds and Identifying Them Packing Light: Making The Most of Portable Gem Instruments
Cover Feature 46
The Rock Creek Sapphire Mine of Montana
Mining 58
The Mines of The New Black Opal From Ethiopia
Jewelry Trends and Design 62
62 64
New-Born Passion For Gemstones Leads to Tie-Pin Range Paris Gallery Hosts The Union Jack to Feature UK Designers
Auctions 67
Sale Prices Soar at Sotheby’s London Sale
Trade Shows
67
72 76 80
BaselWorld 2015: Global Problems Reduce Demand Colored Gems Transform Jeweled Timepieces Hong Kong Show Falls Short of Expectations 4 InColor ׀Spring 2015
FOREWORD
ISSN: 1158934X
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InColor Editorial Committee Clement Sabbagh - Chairman Jean Claude Michelou - Editor-in-Chief Terry Coldham Richard Hughes Managing Editor Albert Robinson Marketing and Sales Dirk Blommaert incolor@gemstone.org Advertising Account Coordinator Ashlynn Yeong ashlynn.yeong@gemstone.org InColor Bureau USA Claudiu Margarit claudiu@gemstone.org [1] (212) 620-0900
Published by ICA (International Colored Gemstone Association Ltd.) Unit No.11, 8th Floor, Hang Ngai Jewelry Centre, No. 4 Hok Yuen Street East Hung Hom, Kowloon, Hong Kong Telephone: (852) 2365 9318 Fax: (852) 2365 9371 Copyright Contents of InColor are copyright. No part of this publication may be reproduced in any manner without the permission of the publisher. InColor makes every effort to ensure the accuracy of the information it publishes. Opinions expressed in this magazine are the sole responsibility of their authors. www.gemstone.org
Laboratory Harmonization: Dreams or Reality
O
ne of the most discussed issues in the colored gemstone industry for the last two decades has been the harmonization of lab reports where it comes to the determination of origin, treatments, and the use of commercial terms, such as “Pigeon Blood” red or “Royal Blue.” On the surface, this makes sense – both for the industry and, critically, for consumers. If there was an agreed upon, or harmonized, standard, then gemstone grading, and all that it entails for our industry and consumer sales, would be simplified while ensuring consumer confidence. Efforts in this respect have been made, of course. The Laboratory Manual Harmonisation Committee (LMHC) was established, and is comprised of representatives of labs from across the globe. These include the CGL Laboratory in Japan, the CISGEM lab in Milan, the DSEF German Gem Lab in Idar Oberstein, the GIA, the GIT-Gem Testing lab in Thailand, the Gübelin Gem Lab, and the Swiss Gemmological Institute – SSEF. Originally established at the request of the GILC, the LMHC is not formally connected to any trade organization and draws on the individual experiences of its members in order to create a general philosophy for proper nomenclature and disclosure for labs and to initiate and suggest preferred language to be used by the trade. The LHMC’s aim is, of course, to bring about the harmonization of gemological reports and procedures. Why is this important? Because a lack of harmonization by labs creates a potentially dangerous situation. Contradictory reports create confusion for the final client. It can also lead to the cancellation of sales when doubts arise from such situations. Moreover, dissatisfied traders feel they can seek a more “appropriate” grade from a different lab. Nevertheless, this lowers the credibility of the industry and of lab reports in the eyes of the end-buyers and potentially threatens consumer confidence. Is harmonization actually possible? Theoretically, this remains an aim, but in practice it seems an impossible task. Gem testing is based on personal observation and interpretation of gemstones using state of the art scientific equipment to reach findings. And because the exercise is performed, of course, by human beings – albeit well trained and experienced –the results are inevitably subjective. Furthermore, labs are all different and since they are competitors, providing a different service and differing prices and all looking for customers and business, this makes the idea of harmonization even more problematic. Grading is based on interpretation not just science. It is worth bearing in mind, that there are many labs that are not involved in the harmonization discussion even though they are prominent in their field, both in terms of where they are located and their grading capacity. And communication between the LMHC and the ICA, AGTA and other national, trade organizations, is widely considered as having been insufficient. However, there are advantages to the harmonization debate: by addressing issues related to gemology treatments or new findings the LMHC, has come up with new details that the industry had not been aware of previously. The harmonization panel should be an ongoing discussion platform with all labs taking part to try and reach understandings backed by scientific facts for the benefit of the entire industry, including both the labs and consumers in terms of reducing confusion and increasing confidence and demand.
Editor-in-Chief Jean Claude Michelou
5 InColor ׀Spring 2015