Chipping Away At The Cullinan Diamond

This week marks the 110th anniversary of the discovery of the Cullinan Diamond, the largest gem-quality diamond ever found.

Weighing in at 3106.75 carats in its rough form, the diamond was found in the Premier Mine of Pretoria in the Gauteng province of South Africa by Captain Frederick Wells.

Named after Sir Thomas Cullinan, owner of the mine, the diamond was presented to England’s reigning monarch King Edward VII in 1905.   After a lengthy debate on how the diamond could be split up, the decision was made to cut it into 9 major diamonds and 96 minor ones.

Here is the true story on what has happened to the nine major stones cut from the Cullinan Diamond.

Cullinan I (also called The Great Star of Africa)

The largest stone from the Cullinan Diamond weighs in at 530 carats and is one the largest cut diamonds in the world.   It currently sits in the head of the British Sovereign’s Royal Scepter, on display in the Tower of London.

Cullinan II (also called Star of Africa II)

Also considered one of the largest cut diamonds in history, this rectangular, cushion-cut stone is set in the front of Britain’s Imperial State Crown.   On special Royal occasions, the Cullinan I and the Cullinan II have also been put together as a brooch.

Cullinan III and IV

The 94.4-carat Cullinan III and 63.6-carat Cullinan IV diamonds are currently worn together as stunning pendant brooch.   The diamonds were originally set on the crown worn in the consort crown worn by Queen Mary, wife of King George V.

Cullinan V

The heart-shaped Cullinan V currently sits as the centrepiece of a stomacher brooch that also features the emerald Delhi Durbar Parure.

Cullinan VI and Cullinan VII

Both of these stones feature a marquise-cut, the VI is much thinner but comes in at 11.5 carats while the VII is heftier looking and weighing 8.8 carats.   The two diamonds can also be seen as a pendant attached to the stomacher featuring the Cullinan V.

Cullinan VIII

The Cullinan VIII, a 6.8-carat emerald-cut diamond, has been used both as a single-stone brooch or paired with the Cullinan V or Cullinan VI as a more elaborate piece.

Cullinan IX

The last of the major stones from the Cullinan Diamond is the 4.4-carat, pear-shaped Cullinan IX.   The diamond is currently on a ring set on platinum and has occasionally been worn by Queen Elizabeth II.

The Rarest of the Rare…Fancy Red Diamonds

In the world of diamonds, Natural Fancy Red diamonds are among the most rare.   Less than 0.1% of all diamonds found in the world can be considered Natural Fancy Red and the bulk of those weigh less than half a carat.

The red color in these diamonds is not caused due to a foreign element present during its formation, it is due to irregularities present within the inner structure of the diamond, the crystal lattice.

Here’s a look at the five most famous red diamonds

1.  Moussaieff Red Diamond

The largest red diamond ever recovered, the Moussaieff Red weighs in at 5.11 carats.   Originally found by a Brazilian farmer in the 1990s by the Abaetezinho river in a region known as Alto Paranaiba.   The stone, originally called The Red Shield, weighed in at 13.9 carats in its rough form.   It was purchased by famed jeweller Shlomo Moussaieff in 2001-2002 and remains part of   his company’s inventory to this day.

2.  The Rob Red Diamond

Noted diamond writer Stephen Hofer called the Rob Red Diamond “the most saturated and purest red diamond measured visually and instrumentally to date in the world’.   Weighing in at a slight 0.59-carats, no one is sure about the stone’s recovery, it is assumed to have been found in an alluvial deposit located within the remote interior of Brazil.

3.  The DeYoung Red Diamond

Found in South Africa in the late 1920s, the DeYoung Red Diamond features a round brilliant cut and weighs 5.03 carats.  Unfortunately, no one is sure of the diamond’s current whereabouts.

4.  The Hancock Red

A former record breaker in the color diamond world, The Hancock Red is a 0.95-carat Fancy Purplish-Red stone.   The diamond was originally purchased at auction in 1956 by Warren Hancock for $13,500.   When it was put up for auction again in 1987, it sold for $926,000/carat.   The previous per carat record for a diamond was $127,000/carat!

5.  The Kazanjian Red Diamond

 

Recovered in South Africa in the mid-1920s, the Kazanjian Red weighs in at 5.05 carats.   In its rough form, it was a whopping 35 carats until formed into an elegant emerald cut.   The diamond spent 30 years in a private collection before being purchased by Kazanjian Bros. Inc.

Natural Color Diamonds Continue To Shine

Natural color diamonds continue to shine the brightest within the jewelry industry, with record-setting auction sales, increased popularity among the Hollywood elite, and an investment potential that continues to grow year after year.

Near the end of 2014, the diamond world has been set afire by two sensational auction sales.   On November 20, Sotheby’s New York held a jewelry auction of pieces belonging to famed philanthropist Bunny Mellon.   Her 9.75-carat Fancy Vivid Blue diamond sold for USD$32.6 million, setting a world auction record for the highest price for a Blue diamond in history, as well as the highest per-carat price for any diamond ever sold at auction.

Five days later, on November 25, Christie’s Hong Kong held its “Magnificent Jewels” auction, where a 2.09-carat Red diamond ring sold for a whopping USD$5.1 million, a record amount for a Red diamond.

What accounts for the surge in interest and demand for natural color diamonds?   The primary reason is their rarity.   Although Yellow diamonds are the most common color in the natural color diamond spectrum, they represent less than 2% of the world’s diamond inventory, while exceedingly rare colors like Red represent only 0.1%.

Color originates in diamonds in various ways. Some like Blue or Yellow, obtained their unique hues when foreign elements such as boron or nitrogen were present at the time of formation under the earth’s surface.   Others, such as Brown diamonds, got their color due to defects in their chemical interior structures.

Red, Pink and Purple form as a result of intense pressure within the earth during their formation.

The appeal of Pink diamonds, other than their obvious beauty, is their rarity factor; the earth is producing an ever-diminishing supply.   Almost 95% of Pink diamonds come from the Rio Tinto Argyle Diamond mine of Western Australia.   However, this mine is expected to close by 2019 and with no substantial quantity of Pink diamonds found anywhere else in the world, the supply may be used up.

Amongst all natural colors, Pink is often the star attraction.   The “Pink Star,” a 59.60-carat diamond rated as a Fancy Vivid Pink by the Gemological Institute of America, was sold at auction by Sotheby’s in November 2013 for over USD$83 million. At the time, the sale price was a world-auction record for a gemstone of any kind.

In a shocking turn of events however, just days after the auction, the buyer had defaulted and the diamond was put back into Sotheby’s inventory. However, as recent history has proven, the diamond will in all likelihood set new records when it goes up for auction once again.

In the last decade, natural color diamonds have had an average yearly value increase of between 15 and 30%.   This rise has been even more dramatic in the last two years, where the increase in value has been over 30% for especially rare diamonds.

If you want to learn more about the exciting world of natural fancy color diamonds, contact one of our diamond experts here at Ouroboro Diamonds of Rare Color.   We can be reached at 1-866-350-4646, found at www.ouroborodiamonds.com, or follow us on twitter at @ouroborodiamond.

Our Most Popular Blogs of 2014

Thanks to everyone who read any of our blog posts over the past year.  2014 was an amazing year in the world of color diamonds.  Writing a blog focused on these precious stones is one of the favourite things we do here at Ouroboro Diamonds of Rare Color.    In case you missed any of our blog posts from 2014, here’s a look at five of our most popular from the last year.

“Excuse Me Bartender, There Is A Diamond In My Drink”

In October, we were surprised to learn that some of the world’s most fancy bars offered drinks that included actual jewelry.   We provided an overview of the priciest of these amazing cocktails.

Top 10 Most Famous Heart Shaped Diamonds

For Valentine’s Day, we detailed the most famous heart-shaped diamonds.   Yep, we are romantic like that.

The Four Diamond Types – Explained

Even for the most ardent diamond fans, the designation of Type I or Type II can be confusing.   We broke down what these actually mean and why 98% of all diamonds actually fall into one of the two types.

Bracing For The “Lesotho Pink Storm”

In January 2014, we previewed a 36.06 carat pink diamond called the “Lesotho Pink Storm” as it was set to be tendered by Fusion/Hennig later that month.

Colour Diamond “Man-Gagement Rings”

“Man”-gagement rings become an actual thing in 2014 and we looked at some of the most popular of these items from around the world.

Top 5 Color Diamonds of 2014

The 2014 auction season has once again proved the ongoing appeal and increasing value of Natural Fancy Color Diamonds.   These precious stones were the high point of every jewelry auction around the world and the bids were absolutely mind-boggling.

Here is a look at the Top 5 Color Diamonds sold at auction this year.

1.  The Zoe Diamond

Part of the Mrs. Paul Mellon collection that was auctioned off by Sotheby’s in November, the Zoe Diamond sold for more than double the pre-sale estimate at $35.8 million (CAD).  That price set a new record for the largest sale of any blue diamond in auction history as well as setting the highest per-carat price for any diamond sold in auction history.

2.  The Winston Blue

The world’s largest flawless vivid blue diamond headlined Christie’s Magnificent Jewels auction in Geneva in May and the results did not disappoint fans of rare jewels.  The blue stone, weighing in at 13.22 carats, sold for $26.4 million.  The sale was made to famed jeweller Harry Winston who renamed the diamond “The Winston Blue”.

3.  A Stunning 8.41-Carat Purple-Pink Diamond

The star of Sotheby’s Hong Kong Magnificent Jewels and Jadeite Autumn Sale in August was this 8.41-carat Fancy Purple Pink Diamond ring.   The pear-shaped stone sold significantly over the pre-auction estimate with the final bid reaching $19.8 million.

4.  A Pair of Fancy Vivid Blue and Fancy Vivid Pink Diamond Ear Pendants

Designed by Bulgari, these amazing pendants feature a 6.95-carat Fancy Vivid Blue diamond and a 6.79-carat Fancy Vivid Pink diamond.   They were part of Christie’s Geneva Magnificent Jewels auction in November and sold for $18.6 million.

5.  The Graff Vivid Yellow Diamond

Rounding out the list was a massive cushion-cut, modified brilliant yellow diamond weighing in at 100.09 carats.   Selling for $17.8 million diamonds at Sotheby’s Geneva Magnificent Jewels and Noble Jewels auction in May, it set a new auction record for yellow diamonds.

 

Christie’s Million Dollar Magnificent Jewels

New York auction house Christie’s will be hosting their final jewelry auction of 2014 with their Magnificent Jewels auction on Wednesday, December 10.   Here’s a look at 5 color diamonds that are estimated to sell for over a million dollars at the sale.

1.  A Rare Colored Diamond & Diamond Ring

The largest color diamond of the sale, this ring features a massive 21.30-carat oval-cut Fancy Light pink diamond set within a single-cut diamond surround.   The high-end of the pre-auction estimate is set at a jaw-dropping $6.9 million (CAD)!

UPDATE:  The ring sold for just above the low end of the pre-auction estimate at $4.9 million

2.  A Spectacular Suite of Colored Diamond and Diamond Jewelry

Designed by Middle East jeweler Jahan, this set includes a necklace, bracelet, ear pendants and a ring.   These stunning pieces include too many color diamonds to mention and are expected to sell for between $4 million and $5.7 million.

UPDATE:   Sold for $5.3 million

3.  A Colored Diamond and Diamond Ring

The lovely ring features a modified cut-cornered rectangular-cut Fancy blue diamond weighing in at 5.70 carats.  The stone is flanked by two tapered baguette-cut white diamonds.  Experts at the auction house have set the sale estimates at between $1.7 million and $2.9 million.

UPDATE:  Sold for $2.4 million

4.  A Rare Unmounted Colored Diamond

From the Argyle Diamond Mine in Western Australia, this stone is a rare red diamond weighing in at 1.42 carats.   The diamond, the third largest red diamond ever put up for auction, is a modified oval-cut fancy red and it is expected to sell for between $1.7 million and $2.9 million.

UPDATE:  Item sold for $2.5 million.

5.  An Important Colored Diamond Ring

This diamond ring’s centrepiece is a 14.28-carat marquise-cut fancy brownish pink diamond and mounted on white gold.   The pre-auction estimates have the piece selling for between $1.1 million and $2.3 million.

UPDATE:  Sold for $2.4 million

Rainbow of Colors Heads To Diamond Auction

Sotheby’s New York final jewelry auction of 2014 features a rainbow of different color diamonds.   We take a look at the Top 5 pieces that will be going under the hammer on Tuesday, December 9.

1.   An Impressive Platinum, 18 Karat Gold, Fancy Vivid Yellow Diamond and Diamond Ring

With an expected price tag of over $2 million (CAD), this staggering 30.48-carat Fancy Vivid yellow diamond ring will be among the top lots of the auction.   The stone itself has a stunning cut-cornered rectangular modified brilliant-cut.

UPDATE:  Item did not sell

2.  A Fine Platinum, Fancy Intense Purplish Pink Diamond and Diamond Ring

A lovely 3.07-carat emerald-cut Fancy Intense purplish pink diamond and flanked by two bullet-shaped diamonds weighing in at .45 carats.   Industry experts have the ring selling for between $1.2 and $1.4 million.

UPDATE:   Sold for $1.4 million

3.  An Impressive Fancy Deep Brown-Orange Ring

The centrepiece of this ring is an unconventional looking marquise-shaped Fancy Deep brown-orange diamond weighing in at a substantial 50.34-carats.   The piece is expected to sell for just over $1 million.

UPDATE:   Item did not sell

4.  A Fine Platinum, Fancy Grayish Blue Diamond and Diamond Ring

An amazing looking diamond ring, the focal point is a 3.02-carat Fancy Greyish Blue Diamond, the piece also features baguette, single, old mine and triangle-cut diamonds weighing just under a third of a carat.   The ring is expected to sell for between $736,000 and $963,000.

UPDATE:  The ring sold for an amazing $1.6 million!

5.  Platinum and Faint Pink Diamond Ring

Expected to sell for between $566,000 and $793,000, this piece features a 10.54-carat marquise-shaped Faint pink diamond along with two kite-shaped near colorless diamonds weighing approximately 1.00 carat.

UPDATE:  Sold at almost a bargain rate of only $660,000.

Yellow Diamonds Set To Blaze At Bonham’s Auction

 

 

 

In one of the final Magnificent Jewelry auctions of 2014, Bonham’s of London will have some beautiful yellow gems up for sale on Thursday, December 4.   Here’s a look at the 5 most impressive ones on the docket.

1.  A Fancy-Coloured Diamond and Diamond Ring

 

Designed by Cartier, this ring features a 6.03-carat cushion-shaped Fancy Intense yellow diamond with graduated rows of baguette-cut white diamonds, within a border of pavé-set brilliant-cut white diamonds.   The ring is expected to sell for between $140 and $180,000 (CAD).

UPDATE:  Did not sell

2.  A Fancy Coloured Diamond and Diamond Ring

 

Mounted by famed British jewelry designer Theo Fennell, this ring features a 5.00-carat radiant-cut Fancy Light yellow diamond with white diamond shoulders.   The piece is expected to sell for between $45,000 and $62,000.

UPDATE:  Did not sell

3.  A Fancy-Coloured Diamond Single-Stone Ring

A stunning Fancy Deep Yellow diamond ring with the stone weighing in at 5.05 carats.   Pre-auction estimates have it selling for between $45,000 and $54,000.

UPDATE:  Sold for $58,103.

4.  An Unmounted Fancy-Coloured Diamond

The largest loose colour stone scheduled to go under the hammer is this 6.35-carat Fancy Intense Yellow Brown diamond.   The marquise-cut stone is estimated to sell for between $45,000 and $54,000.

UPDATE:  The stone sold for $64,707.

5.  A Fancy-Coloured Diamond Single Stone Ring

Possibly the best “deal” on this list, this ring features a modern cushion-shaped Fancy Brownish Greenish Yellow diamond weighing in at 7.50 carats.   The stone is set between scrolling old brilliant and single-cut diamond shoulders.   Industry experts set the low-end estimate at $32,000.

UPDATE:  Did not sell

 

 

Multi-Million Dollar Color Diamonds Highlight Auction

A staggering amount of multi-million dollar color diamonds will be headlining Christie’s Hong Kong Magnificent Jewels Auction on November 25.   Here’s a look at the top 5 dazzlers that are certain to be among the most popular of the items at the auction.

1.  An Exceptional Colour Diamond Ring

Designed by famed Israel-based Moussaieff Jewellers Ltd, this ring is centred by a 3.39-carat oval-shaped Fancy Vivid blue diamond with a marquise and brilliant-cut pink diamond surround.   The piece is estimated to sell for as high as $7.3 million (CAD).

UPDATE:  Didn’t quite the reach the high end of the estimates, selling for $6.5 million (CAD).

2.   A Stunning Coloured Diamond and Diamond Ring

A second diamond ring from Moussaieff Jewellers, this features a 2.09-carat heart-shaped Fancy red diamond within a petal-surround of six pear-shaped white diamonds ranging between 1.01 and 1.07 carats.   Pre-auction estimates have this piece selling for between $4.1 and $5.5 million.

UPDATE:  This ring blew past the pre-auction estimates, selling for $5.7 million.   That sale price makes the stone the most expensive red diamond ever sold both by overall price and price per carat.

3.  A Rare Pair of Coloured Diamond and Diamond Ear Pendants

The first of these pendants feature a square-shaped Fancy Intense green diamond weighing in at 5.64 carats, while the second has a square-shaped Fancy Intense Yellowish Green Diamond weighing in at 5.18 carats.   Each pendant features a brilliant-cut white diamond surround highlighted by a pear-shaped pink diamond and brilliant-cut pink diamond hook.   The estimate for the pair is between $3.5 and $5.8 million.

UPDATE:  Did not sell

4.  An Important Coloured Diamond and Diamond Ring

The focal point of this ring is a massive 20.82-carat square-shaped Fancy Vivid yellow diamond.   The piece also features an oval-shaped white diamond surround weighing in between 1.50 and 1.57 carats.  The pre-auction estimate ranges between $1.8 and $2.7 million.

UPDATE:  Did not sell

5.  A Unique Belle Epoque Coloured Diamond and Diamond Pendant Necklace

From France’s Belle Epoque era of the late 1800s-early 1900s, this pendant necklace is set with a cushion-shaped Fancy Intense yellow diamond weighing in at 52.26 carats.  The chain itself features Old European and Brilliant-Cut white and yellow diamonds.   The estimates for this piece are between $1.8 and $2.6 million.

UPDATE:  A bit of a surprise considering how many industry experts were gushing about this piece prior to the auction, it only sold for $2.5 million.

Opening The Mellon Collection

Sotheby’s highlights the auction world this week with two separate sales from the collection of Mrs. Paul Mellon.  Paul Mellon, a famed philanthropist and horse breeder, passed away in 1999.   His wife Bunny Mellon, well known in the horticultural world as having designed the White House Rose Garden, passed away in March 2014.

The fine art, furniture and silver from the Mellon residence will be part of a Sotheby’s auction that begins on Friday, November 21.   The jewelry owned by Mrs. Mellon will be part of an auction that begins on Thursday, November 20.   We decided to take a look at the Top 5 Color Diamond jewels that will be part of the sale.

1.  A Magnificent and Rare Fancy Vivid Blue Diamond

The prime jewel of the auction, this pear-shaped Fancy Vivid blue diamond weighs in at a staggering 9.75 carats.   The pre-auction sale estimates are ranging anywhere from between $10 and $16 million (CAD).

UPDATE:  This stone, now named The Zoe Diamond, become a true record-breaker, selling for more than double the high-end estimate at $35.8 million.   This amount set records for highest sale price for a blue diamond at auction as well as the most paid per-carat for a diamond of any kind at auction.

2.  An Exquisite Gold and Diamond Riviera by Cartier

111.0 carats of old European-cut white diamonds make up the bulk of this Cartier necklace but the highlight is a Fancy Deep Yellow diamond weighing 4.20 carats.   The piece is expected to sell for between $1.4 and $1.7 million.

UPDATE:  Another piece that sold for more than double the high-end estimate, this necklace went for $3.1 million.

3.   An Important Fancy Blue Diamond Pendant

The second of two impressive blue diamonds, this pendant featuring a 9.15-carat Fancy Blue diamond mounted on platinum has a low end estimate of $1.1 million.

UPDATE:  Another blue diamond that more than doubled the high-end estimate, this sold for $3.3 million.

4.  An 18 Karat Gold, Platinum, Fancy Yellow Diamond & Diamond Bracelet

A stunning bracelet featuring 12 old European-cut yellow diamonds alternating with 12 old European-cut white diamonds.   The stones total approximately 28 carats and is expected to sell for between $137,000 and $192,000.

UPDATE:  The only piece on our list to not at least double the estimate, this bracelet sold for a mere $163,000.

5.  A Platinum, Colored Diamond, Diamond and Diamond Simulant Brooch

A bunny-shaped brooch highlighted by a .50-carat round orangey-brown diamond, a .69-carat Fancy Intense Blue diamond and a .62-carat Light Pink diamond.   The wholly original piece is expected to sell for between $16,000 and $22,000.

UPDATE:  Apparently someone really likes bunnies as this brooch sold for almost 4 times the high-end estimate at $85,8700.