For those who aren’t quite up to date on the happenings within the Diamond and jewelry world in 2016, I will be providing a short recap of some interesting things going on throughout the year.
It’s been a big year for change including the concept of producing and distributing lab-grown diamonds. Although this term isn’t new to our ears, it has grown and now being considered a mainstream option. This had become apparent when Stuller, jewelry manufacturer and supplier, added these to the mix in order to give their customers more options. From improvements in technology comes a steady stream of new stones which are usually 50-60% cheaper compared to mined diamonds listed on RapNet. These diamonds still come with a report from the Gem Certification and Assurance Lab and a unique inscription on the girdle. We all know that when things are cheaper it tends to be a compromise. This compromise is in your depreciation. The resale will not hold the purchase price so it may not be the best for investment purposes. Stuller says its lab-grown diamonds are kept in a separate vault, stored and shipped in a distinct blue acrylic box, and always is handled separately from its mined diamond inventory ( http://www.nationaljeweler.com/diamonds-gems/supply/3977-stuller-adds-lab-grown-diamonds-to-its-inventory).
Although this new trend has finally hit, mined diamonds are still in high demand. The beauty of a mined diamond is incomparable along with a longer life expectancy than manufactured diamonds, makes them irreplaceable. De Beers officially opened its new Canadian mine, Gahcho Kué, in September. The site is expected to produce approximately 54 million carats of rough diamonds over its 13-year lifetime. With new mines opening up and the population preference of mined diamonds, who knows, maybe the new trend of manufactured diamonds will end sooner than we think.
The oval-shaped 15.99-carat “Jubilee Ruby” sold for $14.2 million at Christie’s in April, making it the most expensive colored gemstone ever sold at auction in the United States.
In May, Lucara sold the sixth-largest gem-quality diamond ever unearthed–a 812.77-carat, Type IIa stone discovered at the Karowe mine in Botswana–for $63.1 million, or $77,649 per carat, setting a new world record for a rough diamond.
In early June, just as the industry was descending on Las Vegas for market week, the American Gem Trade Association and Jewelers of America jointly announced they were adding spinel as a birthstone for August, joining peridot.
I know most people keep up with the media, so you may have heard that Kim Kardashian West was the victim of a jewelry robbery in early October at a hotel in Paris. Five men allegedly threatened the hotel concierge to gain access to her room and then stole millions in jewelry from the reality star. In more positive news, Rob Bates, Temple St. Clair and Cartier took home the awards for media, jewelry design and watch design at Jewelers of America’s 14th annual Gem Awards, while WatchTime’s Joe Thompson was honored with the Lifetime Achievement Award.
Keep an eye out for Greenery which has been declared the color of the year for 2017.
DON’T FORGET, Diamonds are forever! XO