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Industry News: Fancy Yellow Prices Stable But Blues, Pinks Up; De Beers Tests Blockchain; More May 16, 2018 (0 comments)

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Fancy Yellow Diamond Prices Stabilize, Blues Up In Q1 2018

New York, NY—Prices of fancy color diamonds showed stability in most categories in Q1 2018, although fancy blue diamond prices rose moderately. A 6.16-carat pear-shaped dark grey-blue diamond called the Farnese (left) sold for $6.7 million at Sotheby’s Geneva on Monday, beating its $5.3 million estimate by $1.4 million.

The Fancy Color Diamond Index (FCDI) indicated an overall rise of 0.1% in in the first quarter for fancy color diamonds across all sizes and saturations, while blues increased 1.0%, continuing its trend from last year. Unsurprisingly, the better qualities—fancy intense and fancy vivid blues—outperformed. Most notably, in Q1 2018 the two-carat vivid pink and blue diamonds showed the highest rate of appreciation in their respective color categories—also of note at the Sotheby’s sale, a 9.7-carat light purplish pink diamond ring soared past its pre-sale estimate of $702,000 to sell for $2.6 million.

On a slightly less stratospheric level, year on year, the Fancy Color Diamond Index increased by 0.1% overall, with blue prices up 5.0% and yellow and pink prices down by 1.7% and 0.6%, respectively. By contrast, the IDEX price index shows colorless diamond prices rose 1.6% in Q1 2018.

The Fancy Color Diamond Index is published by the non-profit Fancy Color Research Foundation (FCRF), and tracks pricing data for yellow, pink and blue fancy color diamonds in three key global trading centers – Hong Kong, New York and Tel Aviv. For a complete data analysis, please visit www.fcresearch.org​.

 

De Beers Group Trial Successfully Uses Blockchain Technology To Track First Diamonds From Mine To Retail  

London, UK—De Beers Group on Monday announced that it has successfully tracked 100 high-value diamonds along the value chain during the pilot of its industry blockchain platform, marking the first time a diamond’s journey has been digitally tracked from mine to retail. 

Blockchain technology leaves an immutable and secure digital trail was created for a selection of rough diamonds mined by De Beers as they moved from the mine to cutter and polisher, then through to a retail jeweler. Five diamond manufacturers—Diacore, Diarough, KGK Group, Rosy Blue NV and Venus Jewel—are participating in the blockchain platform trial.

The platform, trademarked Tracr, is expected to launch later this year and will be open to the industry. When fully operational, Tracr will provide consumers with confidence that registered diamonds are natural and conflict-free, improve visibility and trust within the industry, and enhance efficiencies across the diamond value chain.

The five manufacturers have been working with De Beers during the development of Tracr, and have played an integral role in creating the first blockchain platform to span the entire diamond value chain. The manufacturers have significant experience in the processing of large stones, which is the initial focus of the pilot, as well as broad coverage across the midstream of the industry.

 Bruce Cleaver, De Beers Group CEO, said, “The Tracr project team has demonstrated that it can successfully track a diamond through the value chain, providing asset-traceability assurance in a way that was not possible before. This is a significant breakthrough made achievable by the close engagement of the pilot participants who share our commitment to industry progress and innovation. We look forward to sharing the platform with more partners in the coming months and capturing their insights before ultimately making this technology available to the broader industry.”

How Tracr works: As the diamonds travel along the value chain, a unique Global Diamond ID is automatically created on Tracr, which stores individual diamond attributes such as carat, color, and clarity through integration with the participants’ existing record-keeping systems. This allows Tracr to consolidate the data into an immutable digital trail for each physical diamond, assuring its provenance and traceability from rough to polished. Tracr verifies the uploaded data at each key milestone of a diamond’s journey, ensuring its accuracy and continuity, while enabling users to be in full control of what they share with other participants through the use of privacy controls.

Tracr also will be using stone images, planned-outcome images, and a diamond's physical properties to verify authenticity through data science and physical identification techniques. The pilot was announced in January, following months of research and industry consultation. De Beers is working with BCG Digital Ventures to build the platform and the underlying technology. Visit the new website to learn more about Tracr at www.tracr.com

 

MJSA Scholarship Deadline Is June 1

Attleboro, MA—The deadline for the 2018 MJSA Education Foundation Scholarships is Friday, June 1.

Undergraduate and graduate students who intend to pursue a career in the jewelry industry are awarded thousands of dollars from the MJSA Education Foundation each year. We strongly encourage students who are currently enrolled or have been accepted to a jewelry-related program at accredited colleges and universities to apply. Students enrolled at proprietary trade schools and gemological programs are also eligible to apply. 

Applicants are assessed on the basis of design excellence, academic record, marketability, recommendations, and financial need. Students must be U.S. citizens, although the jewelry program in which they are enrolled can be located outside the United States.

If you are or know a jewelry student, encourage them to learn more by clicking here. To apply, go to the Rhode Island Foundation login page to register. After students register, the link will take them directly to the MJSA Education Foundation Jewelry Scholarship application. For a list of past scholarship winners, click here.

In addition to MJSA's annual scholarships, students enrolled in jewelry design, jewelry making, or other jewelry-related degree programs at colleges, universities, and technical schools in the state of Rhode Island are eligible for a special grant, in the amount of $2,500, donated by the Providence Jewelers Club Foundation. Apply today; deadline for both grants is Friday, June 1.

 

2018 World Diamond Congress Canceled

Antwerp, Belgium—The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) jointly announce the 38th World Diamond Congress has been canceled. The Congress, which is the biennial gathering of the WFDB and IDMA, was slated to be held in June 19-21 in Tel Aviv, Israel. Weak registration response, potentially due to rising tensions in the region, led to the decision to postpone. A new date will be announced in the near future.

 

Spring 2018 Gems & Gemology Reveals Colorful Discoveries in Gems  

Carlsbad, CA—The science of green diamonds, “rainbow” hematite, and DNA as a pearl identification technique are addressed in the Spring 2018 issue of Gems & Gemology, GIA’s quarterly professional journal. The spring issue will also feature the 2018 G&G Challenge, a 25-question multiple-choice quiz based on articles published in 2017. Readers who score 100% will be listed in the Fall 2018 issue. The Gem News International section will carry a complete report on the February 2018 Tucson gem and mineral shows, with 24 pages of coverage and photos. 

Additional highlights include a recent lab note by Sally Eaton-Magaña on five CVD synthetic diamonds larger than three carats, and beautiful photomicrographs in the Micro-World section of an opal with agate-like banding.

This and every issue of G&G since 1934, including full articles, lab notes, photo galleries and exclusive video footage, are available at no cost on GIA’s website. Additional research articles are available here. Print subscriptions and copies of back issues are available at http://store.gia.edu, or by contacting G&G customer service at +1 760-603-4502. There is a $10 discount on subscription renewals – domestic and international – and a 50% lower rate for recent back issues – all back issues now cost $15.

Colored by atomic-level defect arrangements, natural-color green diamonds are among the rarest gemstones found on Earth. The cover photo of G&G showcases diamonds that display a range of green hues. Photo by Robert Weldon/GIA, courtesy of Optimum Diamonds.

 

CIBJO Congress To Meet In Colombia In October

Milan, Italy—CIBJO, the World Jewellery Confederation, will hold its 2018 annual congress in Bogotá, Colombia, October 15-17, with pre-congress meetings beginning on October 13. 

The congress will be hosted by Fedesmeraldas, the National Federation of Emeralds of Colombia, which this year will be a celebrating the 20th anniversary of its founding. Immediately prior to the event, from October 12 to 14, Fedesmeraldas will also host the second edition of the World Emerald Symposium, which CIBJO Congress participants are encouraged to attend. 

The main venue for the CIBJO Congress will be the Grand Hyatt Bogotá, located in the heart of Ciudad Empresarial Sarmiento Angulo, the city's commercial district.

CIBJO Congresses are the venue for the annual meetings of CIBJO's sectoral commissions, where amendments can be introduced to the organization's definitive directories of international industry standards for diamonds, coloured stones, pearls, gem labs, precious metals and coral, known as the Blue Books. The Congress also is where the World Jewellery Confederation Education Foundation (WJCEF), relating to responsible and sustainable activities in the industry, and CIBJO's ongoing cooperation with the United Nations and its development programs, are reported upon.

"In so many respects, Colombia represents both the past and the future of our industry," said Gaetano Cavalieri, CIBJO President. "It has been associated with the very finest of gemstones for centuries, but from a business perspective has still only scratched the surface of its potential, with studies indicating that about 80 percent of its vast emerald reserves still remain under the ground. The country's government and gemstone industry are committed to a programme that involves formalising the status of its artisanal and smaller-scale miners, enabling them to access the international markets, and so realize our business community's potential of being a force for sustainable economic and social development. With the focus of the world jewellery industry on Colombia leading up to and during the CIBJO Congress, we are delighted to be able to partner with Fedesmeraldas in highlighting this process."

A dedicated CIBJO Congress 2018 website will be launched shortly.

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