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INDUSTRY NEWS: MEGA-STONES CONTINUE TO RAKE IN AUCTION DOLLARS, INDUSTRY LEADERS SALUTE BOTSWANA June 13, 2012 (0 comments)

Big Diamonds Continue To Rake In Top Dollars At Auction

New York, NY—Christie’s Important Jewels sale on Tuesday totaled $14,596,525. Sell-through rates were strong; 89% by lot and 92% by value. The top lot of the sale was a David Webb 22.46-ct., rectangular-cut, E-color diamond ring, which sold for $1.87 million, or $83,500 per carat. Pictured lefy, ist was one of more than a dozen top-quality diamonds featured in the sale.

Rahul Kadakia, head of jewelry for Christie’s America, said diamonds have been drawing top prices in Geneva, Hong Kong and New York through spring 2012, with both seasoned collectors and buyers from new economies battling it out for top stones.

The top seven lots all were diamonds. These included an E VVS2 pear, 14.82 cts. that sold for $1,594,500, more than $2 million above its top estimate; a rectangular-cut D flawless of 10.52 cts. that fetched $1,258,500, two fancy yellows, and a light pink. Of the top 10 lots, only two pieces were not, or did not include, large diamonds: a Cartier Art Deco diamond bracelet, and a pair of Colombian emerald and diamond ear pendants.

 

Julius Klein, Leo Schachter, Others Support Gala Salute to Botswana

Washington, DC—More than 150 diamond and jewelry industry leaders, diplomats, government officials, delegates to the Kimberley Process Intersessional, and other dignitaries attended the “Gala Salute to Botswana: Diamonds Empower Africa” held June 5 at the Embassy of Botswana here. The cocktail event was co-hosted by the Diamond Empowerment Fund (DEF) and the Embassy of Botswana to the United States.

H.E. Tebelelo Mazile Seretse, Botswana’s ambassador to the United States, said his country shines as a model for what is possible when good governance is combined with good corporate social responsibility and best business practices. Botswana's economic wealth and social wellbeing are due to its being the top producer of diamonds by carat weight and value in the world. 

“Careful stewardship of this most precious resource with our business partners exemplifies that public/private partnership works in a democracy such as Botswana."

Phyllis Bergman, president of the Diamond Empowerment Fund, added, “Our industry supports the empowerment of Africa. We are pleased to pay tribute and to salute the outstanding progress that Botswana continues to achieve, and that represents the good that diamonds do to improve the quality of life of people and communities in Africa.

The gala’s lead sponsor was Tiffany & Co. Supporter sponsors of the gala were Exelco, Julius Klein Group, Leo Schachter Diamonds, Signet Jewelers, and Wilderness Safaris in Botswana.  The Dalumi Group, creators of the Swana Diamond, showed their support during the evening by making the winning bid for the exclusive Wilderness Safari auction package which includes an arranged tour by Debswana of the world’s richest diamond mine, Jwaneng, and a private tour by DTC Botswana of their newly opened offices in Gaborone.

From left: Jean-Paul Tolkowsky, CEO Exelco; Jim Fernandez, chief operating officer, Tiffany & Co.; Phyllis Bergman, CEO, Mercury Ring, and Diamond Empowerment Fund board president; H.E. Ambassador Seretse, Republic of Botswana; Elliot Tannenbaum, partner, Leo Schachter Diamonds; Ed Hrabak, chief operating officer, Sterling Jewelers, Inc.; A.D. Klein, president, Julius Klein Group; Saul Goldberg, president, William Goldberg Jewelry