Last issues
Vol. 28 No. 5 - December 2013
Silver survey Optimistic
IDA to Get Synthetic Diamonds Device

Concern Over Synthetic Diamonds
Gemfields to Produce Rubies
Thai Researches Study Australian Pearls
Sotheby's London Sale of Fine Jewels CElebrates the Duchess of Windsor
   
     

Silver Survey Optimistic  
   
       Silver prices in the first 10 months of 2013 have averages $24.51 per ounce, nearly a 21 percent year-on-year decline, according to the Thomson Reuters GFMS Interim Silver Market Review, and GFMS is forecasting a full year average price even lower at $24.24 per ounce. GFMS noted that silver's characteristics sometimes shadow the development impacting gold and it also takes cues from the industrial world, both trends which are expected to continue in 2014, Gold has lost about 25 percent year on year and trading at $1.288.50 per ounce on November 15.  
     
       The interim report from Thomson Reuters GFMS concluded that silver fabrication demand will grow 6 percent year on year both for the jewellery sector and the silverware market this year. Jewellery demand has been particularly strong in emerging countries, with demand surging in India as
consumers have dramatically pulled away from buying gold.

     GFMS explained that much of silver's price decline this year was driven by factors similarly influencing the gold market and triggered by expectations that the U.S. Federal Reserve would taper backits $85 billion monthly bond and mortgage backed securities purchases.This alongside an expectation of more attractive return in order asset classes, prompted investors to engage in sector rotation trades away from safe haven coomodities toawrd equities and bonds, the report noted.
 
     
       By comparison, GFMS Started that gold exchange-traded fund (ETF) outflows have been in place all year, but silver ETF holdings continued to grow, reaching a record-high of 655 milllion ounces on October 31. Silver mind production is poised to grow by 4 percent this year to 815 milllion ounce, with grownth in production primarity coming from growth in production primarily coming from the U.S. Mexico and the Dominican REpublic. GFMS estimates the average cash for mining silver is $9.50 per ounce, up from $8.90 per ounce in 2012. GFMS also forecasts 35 million ounces of net producer de-hedging in 2013 as companies allowed contracts to mature or actively bought hedges back.  
     
 
 
     
  IDA to Get Synthetic Diamonds Device
 
       GIA President Susan Jacques, and her deputy, Tom Moses, will present the Israel Diamond Exchange (IDE) with its state-of-the-art-device for the identification of synthetic diamonds during a visit in early February.

     The GIA says the machine has a synthetic diamonds identification accuracy rate of 97 percent, while the remaining 3 percent of suspect stones are classified by the device as "not clear" and should be sent to the laboratory for a more comprehensive inspection.

     The Israel Diamond Exchange will be the first bourse in the world to recieved the machine.
 
 
    Ernie Blom, President of the WFDB, and the Tom Moses, GIA execultive vice president and chief laboratory and research officer, announced that an agreement has been made between these two world bodies. GIA (Gemological Institute of America) will provide a machine to assist with the detection of synthetic diamonds to member bourses.
    The WFDB is committed to enforcing its stand of "zero tolerence" in the non-disclosure of synthetic stones. The assitance offered by GIA with making these machines available to member bourses will be of great assistance in the detection of illegal mixing of synthetic and natural diamonds.


 
 
 
     
  Concern Over Synthetic Diamonds  
 
     A range of dimaond and jewelry industry organizations will take part in a meeting organized by the Diamond Manufacturers & Importers Assocation of America (DMIA) following and urgent call by the body last month to host an industry-wide meeting in New York City about measures to prevent synthetic diamonds being presented as natural diamonds.

    The meeting will be held under the banner of the DMIA, the Diamond Dealers Club of New York (DDC), the Indian Diamond and Color Stone Association (IDCA), and the Natural Color Diamond Association (NCDIA), said DMIA President Ronnie VanderLinden.


 
 


     "We have already engaged law enforcement agencies and have received confirmations from national organization such as Jewelers of America (JA), the American Gem Society (AGS), the Manufacturing Jewelers & Suppliers of America (MJSA) and the Jewelers Vigilance Committee(JVC), " Said VanderLinden.

     "Also, three major gem labs that service our industry are on board; the Gemological Institute of American (GIA), the International Gemological Institute (IGI) and the European Gemological Laboratory (EGL USA) We are confident that his meeting will result in strong measures that will have real teech, " he added.

     "We noted earlier that one of the major obstacles in attacking this issue was the lack of cohesion from industry stakeholders. Withnessed by the strong response from our partners we are building that cohesion.

     "We strive for a single-minded and enforceable joint resolution to half synthetics being mixed into parcels of natural diamonds by repeat offenders. Those who defraud the industry will pay a heavy price. "he said.
 
 
 
  Gemfields to Produce rubies  
 

    Having built its reputation on Zambian emerald, Gemfields Plc, the London-based coloured stone miner, is seekimg rubies. The company has set its sights on Mozambique, where it owns a majority stake in a mine that it hopes could supply up to a fifth of global ruby demand.

    In 2012, the miner acquired a 75 percent stake in Montepuez Ruby Mining in northern Mozambique, a 131-square-mile concession considered the largest ruby-mining concession in private hands in the world today, according to Gemfields. CEO lan Harebottle said that the companyplans to more than double the mine's monthly ruby production to 2.5 million carats by July.

    "Our first rough ruby auction will take place in the first half of 2014, so the market can expect to see cut and polished not long after that," lan Harebottle said, "We're to offer a new opportunity for marketing and selling rubies, particularty in the U.S., and we are seeing real enthusiasm for the product at all different levels".
 
     
 
 
 
 
  Thai researchers Study Australian Pearls  
      GIA (Gemological Institute of America) researches from Thailand, with the assistance of the Paspaley Pearling Company, recently conducted an expedition to Australia's wild pearl oyster beds to advance research into differentiating certain nacreous saltwater non-bead cultured pearls from natural pearls. GIA's pearl research group and others in the pearl trade have focused on this sometimes difficult differentiation for decades.

    In addition to thousands of laboratory analyses over the past few years. A major focus for both the GIA and Paspaley Pearling Company research teams has been establishing the most important criteria for present and future bresearch : a reliable sample base of natural and cultured pearls of various types. While obtaining a definitive sample base for cultured pearls is straighforward, the rarity of natural pearls makes collecting a substanial sample base challenging.
 
   
  Right photo : GIA reseacher Arittaya Homkrajai searching for natural pearls within the mantle of a Pinctada maxima. Photo by Areeya Manustrong  
 
    Australia's wild pearl oyster beds have been fished continuously since the mid-1800's for Pinctada maxima, the world's largest species of pearl oyster that has yielded many of the world's large saltwater natural pearls. GIA sought to conduct research in Australia with Paspaley's assistance as the country's seas are home to the world's last commercially active fishery for wild Pinctada maxima oysters. According to Kenneth Scarratt, GIA managing director for Southeast Asia, several recent expeditions by GIA into the waters off the Australian Northwest Coast resulted in the acquisition of many natural and cultured pearls that have produced excellent data that will enable GIA to establish impeccable test criteria for its pearl identification teams.
 
   
 
    "Resolving the issues involved in differentiating natural from saltweter non bead cultured pearls has been a focus of GIA's research group for some time," said Scarratt. "Meeting these challenges and using the results to serve GIA's public benefit mission is what makes this kind of research so rewarding and important." A recent expedition that coincided with a Paspaley wild shell collection programme, gathering large Pinctada maxima shell for use in the Mother of Pearl industry, yielded the Institute's most extraordinary results thus far.

    In late September and early October, GIA pearl researchers Aritaya Homkrajae and Areeya Manustrong spent ten days aboard Paspaley's diving ship MV Marilynne, during which they discovered and extracted 776 natural pearls from 20,488 large wild oysters. A majority of these pearls were small "seed" pearls, with the smallest mesuring under 1 mm in diameter, and the largest, a rare pearl measuring 16mm diameter. Prior to this expedition, there were few opportunities for gemmological labobratories to examine a significant number of undrilled natural Pinctada maxima pearls of confirmed provenance, meaning previously that their origins were determined only by examiing their internal structures and provenance 'assumed'. This sample will let GIA compare waht is understood about natural structures with undrilled pearls known to be natural.
 
 
    "This was a unique opportunity to gather speciemens from an important and well-known source," said Artitaya Homkrajae, GIA pearl researcher. "Establishing explicit provenance for the samples will support a great deal of further research, " added Areeya Manustrong.

    These 776 natural pearls, along with their shells, now reside in GIA's laboratory in Bangkok. In the coming months, extensive research will be carried out using in-house high resolution real-time microradiography and micro CT imaging, as well as detailed chemical analyses and the application of other test methods.

    As partof GIA's public benefit mission, a full and detailed report will be prepared and published in the coming months that will help clarify and establish clearer criteria for the interpretation of various data collected during the normal laboratory examination of pearls.
 
 
 
  Sotheby's London Sale of Fine Jewels Celebrates the Duchess of Windsor  
      This month, 26 years after the legendary auction of the "Jewels of the Duchess of Windsor", Sotheby's London will present - in its sale of fine jewels on 12 December 2013 - a fascinating group of jewels and precious objects celebrating the lives and tastes of the Duke and the Duchess of Windsor.

    Commenting on the forthcoming sale, David Bennett, Chairman of Sotheby's Jewellery Division in Europe and the Middle East and Chairman of Sotheby's Switzerland, said" "Sotheby's 1987 landmark sale of the jewels of the Duchess of Windsor remained the most valuable single-owner jewelelery sale for almost a quarter of a century and inaugurated a new era in the jewellery auction market , three years ago, we winessed the continuing fascination for this collection when 20 pieces from the original sale reappeared at auction in Sotheby's London and established new price levels. We are delighted to present this further selection of attractive jewels and precious objects, which shed light on the Duke' s life, and what has been called the greatest love story of the 20th century".
 
   
 
a) Diamond devent de corsage, 1850s
Designed as a floral spray suspending three detachable fuchsia pampills from knife-edge linking, set with cushion-, pear-shaped adn rose diamonds in pinched coller settings. Estimate: US$49,152-81,920.

b) Natural pearl and diamond pendant necklace, early 20th century of open work scroll design, millegrain-set with circular-and single cut diamonds, suspending a natural pearl drop measuring approximately 7.8 to 10.8x7.0 mm to a fine link chain. Estimate : US$17,842-25,952.

c) Sapphire and diamond pendant set with a cushion shaped sapphire weighting 18.10 carats and oval sapphire and brilliant-cut diamonds. Estimate: US$ 21,897-30,008.

d) Fancy intense yellow diamond and diamond ring
Centring on a cut-corned rectangular brilliant-cut fancy intense yellow diamond weighting 1.81 carats, between baguette diamond shoulders. Estimate : US$ 17.842 - 25,952

e) Diamond ring
claw-set with a step-cut diamond weighting 5.05 carats between tapered baguette diamond shoulders. Estimate : US$ 81,100-113,541.
 
 
 
  E) Pair of emerald and diamond pendant earrings
Each designed as an emerald drop to a surmount set with brilliant-cut and pear-shaped diamonds
Estimate : US$ 48,600 - 56,711
F) Ruby and diamond double clip brooch, 1930s
Each clip of geometric design, set with oval rubies and circular-cut , shield-shaped and baguette damond
Estimate : US$ 40,550 - 56,771
G) Ruby and diamond ring
Of crossover design, set with cushion-shaped rubies, brilliant-cut and tapered bagutte diamonds.
Estimate : US$ 48,660-81,100
H) Diamond necklace
Of foliate design, set with a graduated series of marquise-shaped diamonds. Estimate : US$ 37,306 - 45,416
 
   
  I) Sapphire and diamond ring claw set with a step-cut sapphire weighting 12.67 carats, withina frame of pear-shaped diamonds. Estimate: US$ 2,976-19,464
J) Pair of Sapphire and diamond pendant earrings each set with an oval sapphire within a frame of brilliant-cut, pear and marquise-shaped diamonds respectively Estimate: US$ 32,441-40,550
K) Sapphire and diamond ring claw set with an oval sapphire weighting 16.99 carats, within a frame of circular-cut diamonds. Estimate: US$ 40,550-56,771
 
   
  L) Pair of emarald and coloured diamond earrings each set with a step-cut emrald, weighting, 4.54 and 5.28 carats respectively, and pear and marquise-shaped diamonds of yellow tint Estimate: US$ 35,684-45,416
M) Pair of emarald and diamond ear clips Each set to the centre with a step-cut emerald, framed by baguette and marquise-shaped diamonds Estimate: US$ 24,330-32,441
N) Diamond parure, graff, 1980s Comprising brooch, ring and pair of ear clips, each designed as a flowers, set with brilliant-cut diamonds to a two tone mount. . Estimate: US$ 24,330-40,550
 
   
  O) Gem set and diamond demiparure, Cartier, 1980s Comprising : bracelet and pair of ear clips, each set with circular-cut sapphires, rubies and emeralds and brilliant-cut diamonds Estimate: US$ 32,441-48,660
P) Diamond tiara, circa 1900 The centre designed as two wreaths, each swing-set to the centre with circular-cut and pear-shaped diamonds, between two modified rectangular panels of open work floral and foliate design, set with circular-cut and rose diamonds. Estimate : US$24,330-32,441.
 
   
  Q) Diamond demi-parure, 1970s Comprising : a necklace designed as a series of marquise-shaped and brilliant-cut diamonds, suspending a detachable drop of palmette design, and a pair of ear clips similarly set. Estimate: US$ 32,441-40,550
R) Diamond necklace Designed as an articulated band set with brilliant-cut diamonds Estimate: US$24,330-32,441
 
 


 




 

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