Diamond Club West Coast (DCWC) has unveiled its new leadership team, with Kalpesh Jhaveri taking over as president. He succeeds Moshe Salem.

The new executive board also comprises Antranig Ayvazian, vice president; Mervyn Hahn, vice president; Lisa Wiener, secretary; and Sean Gamliel, treasurer.

“We are proud to announce our newly elected board of directors who are committed to guiding DCWC towards further growth and success in the diamond industry,” the Los Angeles-based trade body said Friday. “Their diverse backgrounds and expertise will enable them to address challenges, capitalize on opportunities, and drive innovation within the organization.”

The new board of directors consists of:

Doron Auslander

Hala Alam

Sam Barkati

Stanley Horowitz

Tanya Parikh

Sina Partownavid

Ruth Raviv

Vipul Udani

Jack Weir

Ramin Zar

Image: Inside the DCWC’s new premises in Los Angeles. (DCWC)

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Available in print or the GIA App

GIA now offers both printed and digital GIA Diamond Dossier^® reports as a part of our commitment to innovation as well as supporting you and your customers’ needs. To ensure you have what you need for your business, we will also continue to develop robust, secure and compelling digital versions of all our laboratory reports.

Do more with reports than ever before

The GIA App will continue to provide report information for all reports issued by GIA. Through the GIA App, you can scan QR codes to view digital reports, share reports and save reports.

The digital Report Access Card offers another convenient way to share diamond grading information with your customers. You can include this digital card in new purchase appraisal documents, printed or digital receipts and more. The digital Report Access Card is available for Diamond Dossiers on Report Check at GIA.edu or via the Report Results API.

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De Beers has rebuffed allegations in the media that it sold Russian diamonds in breach of US sanctions.

On Thursday, luxury publication Glitz.Paris reported that De Beers had “sold stones of Russian origin in the US” last year. It also claimed the company “bought diamonds in 2022 from the Russian firm Alrosa via an Israeli company.” Over the weekend, Botswana newspaper Sunday Standard cited the allegations in a front-page story.

“Let us be clear — this allegation is not true,” De Beers said in a statement Sunday. “De Beers only sources diamonds discovered in Botswana, Canada, Namibia and South Africa, or from select companies that adhere to our strict and third-party audited sourcing policy. Following the start of the war, we removed Russia from our third-party sourcing list. We do not source diamonds from Russia.”

The “shady deals” threaten to “taint Botswana diamonds” and might affect ongoing negotiations between De Beers and the Botswana government, Sunday Standard asserted.

De Beers’ Forevermark consumer brand “conducted at least 120 transactions of Russian diamonds with customers in which the stones were destined for the US market,” Sunday Standard reported, citing the paywalled Glitz.Paris article. These stones ranged from 0.19 to 0.27 carats, had VS1 clarity, and carried insurance valuations of $227,000 to $366,000, the newspaper continued.

De Beers signed “several contracts” with Alrosa, Russia’s partially state-owned diamond miner, in recent years, with three of them dated February 21, 22 and 23, 2022, according to the same report. Russia invaded Ukraine on February 24, 2022 — the same day the US sanctions went into effect. It’s unclear if the reports were alleging any deals took place after this date.

Some of the alleged purchases were via Israel-based diamond manufacturer and De Beers sightholder Dalumi Group, the report claimed — a fact that Dalumi also denied.

“Dalumi Group ceased buying Russian diamonds from Alrosa on February 22, 2022,” Dalumi managing director Rafi Yerushalmi said in a statement to Rapaport News on Sunday. “Furthermore, Dalumi Group confirms that it has never sold Russian polished to the De Beers Group.”

The claims raise the stakes in the De Beers-Botswana negotiations, according to Sunday Standard, since the government has demanded that the country’s diamonds be marketed separately from De Beers aggregated goods as “Botswana diamonds.” At present, the bulk of rough coming from De Beers’ mines in Africa and Canada goes through aggregation before reaching the market.

“It is no secret that we have been the subject of a number of headlines in Botswana over the past several months,” De Beers said in its statement on Sunday. “While those stories were distortions, this particular story is dangerous. Beyond De Beers, it suggests to consumers that the natural diamonds they buy, a significant percentage of which come from Botswana, are tainted. This is not true, but in an attempt to discredit De Beers, the article risks damaging much more.”

On March 11, 2022, following the US’s ban on imports of Russian diamonds, De Beers released a statement saying that “every diamond that De Beers Group sells is discovered at one of our mines in Botswana, Canada, Namibia or South Africa.”

The current version of that statement on the De Beers website reads: “Every diamond discovered by De Beers Group comes from one of our mines in Botswana, Canada, Namibia or South Africa.” A note accompanying it says that the wording was “amended for accuracy” on March 23, 2022.

While De Beers only sells rough from its own mines, it sources diamonds from third parties for Forevermark and De Beers Jewellers, its consumer brands.

This is not the first time De Beers has moved to refute reports about it in Botswana. In November 2022, it denied a Sunday Standard article saying the government might “ditch” the mining company. 

Image: A diamond engagement ring at a De Beers Forevermark store in Gaborone, Botswana. (Ben Perry/Armoury Films/De Beers)

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A blue diamond ring was the top seller at the most recent jewelry sale at Christie’s in Hong Kong, fetching HKD 68.9 million ($8.8 million).

The piece, which features a pear brilliant-cut, 4.83-carat, fancy-vivid-blue, internally flawless, type IIb diamond surrounded by fancy-cut diamonds, fell within its estimate at the May 27 Magnificent Jewels sale. It was one of several colored jewels to take the spotlight.

In total, the auction brought in HKD 467.1 million ($59.6 million).

Here are the rest of the top 10 items at the auction:

This ring, containing an octagonal step-cut, 21.38-carat, royal blue Kashmir sapphire flanked by tapered baguette-cut diamonds, went for HKD 35.5 million ($4.5 million). That amount is nearly double its HKD 18 million ($2.3 million) high estimate.

This ring is set with a diamond known as The Golden Flame, a pear modified brilliant-cut, 8.92-carat, fancy-vivid-yellow-orange, internally flawless stone, nestled between two pear brilliant-cut, D-color, flawless diamonds weighing 1.12 and 1.11 carats. It sold for HKD 31.8 million ($4.1 million), above its upper presale price.

This ring featuring a pear modified brilliant-cut, 4.08-carat, fancy-intense-pink, internally flawless diamond center stone garnered HKD 31.2 million ($4 million), within its presale estimate.

A round-cornered rectangular modified brilliant-cut, 21.75-carat, D-color, internally flawless diamond ring by designer Mitsuo Kaji brought in HKD 30.6 million ($3.9 million), surpassing its HKD 18 million ($2.3 million) upper price.

Christie’s sold this jadeite bangle for HKD 24.6 million ($3.1 million) at the Hong Kong auction, within its presale estimate.

A pair of pear brilliant-cut, D-flawless diamond earrings weighing 15.73 and 15.23 carats fetched HKD 24.6 million ($3.1 million) at the sale, within its original price range.

This necklace, featuring emerald beads and variously cut diamonds, was created in 2016 by Van Cleef & Arpels. It beat its HKD 8 million ($1 million) high estimate to bring in HKD 14.3 million ($1.8 million).

Another Van Cleef & Arpels necklace, this one mystery-set with rubies and round and pear-shaped diamonds, also surpassed its upper price. It went for HKD 11.5 million ($1.5 million) against a presale high estimate of HKD 9.5 million ($1.2 million).

Earrings bearing cushion-cut, royal blue Kashmir sapphires weighing 7.75 and 6.27 carats went under the hammer at the Hong Kong auction. The pair, which also contains shield-shaped and marquise-cut diamonds, achieved HKD 10.7 million ($1.4 million), within its estimate.

Main image: The 4.83-carat blue diamond ring. (Christie’s)

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Former Stuller executive Stanley Zale has taken on the role of principal consultant at Hill & Co.

Zale left his position as vice president for diamond and gemstone procurement at Stuller earlier this month following 17 years there. He is the first male addition to the Hill & Co. team.

“Last year saw a marked increase in the number of diamond businesses joining the Hill & Co. client list,” said Hill & Co. CEO Elle Hill. “Adding the deep industry expertise, network, and savvy that Stanley brings to the table to our existing SWAT [special weapons attack team]…of innovators and experienced specialists in strategy, execution planning, technology, operations, marketing and client acquisition will benefit all our clients.”

Hill & Co. creates and implements growth strategies for the diamond, gemstone and jewelry industry.

Image: Stanley Zale. (Hill & Co.)

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A sapphire and diamond necklace by Bulgari was the top seller at the recent Jewels & Jadeite auction from Phillips in Hong Kong.

The piece, set with a cushion-shaped, 118.35-carat sapphire and diamonds, brought in $3.4 million, within its estimate, Phillips said Tuesday. In total, the May 23 auction garnered $7.5 million, with 91% of goods on offer selling.

“The Jewels & Jadeite auction this season saw strong demand,” said Benoît Repellin, worldwide head of jewelry at Phillips. “The auction witnessed an unprecedented level of online participation, with half of the lots being sold to online bidders.”

Other pieces in the top 10 that saw strong sales included a 6.26-carat sapphire and diamond ring by Jean Shlumberger for Tiffany & Co., which fetched $421,665, surpassing its $360,000 upper estimate. A pink gold, pink sapphire and diamond Zip necklace by Van Cleef & Arpels also beat its $250,000 high price tag, achieving $421,665. Meanwhile, a 5.01-carat Burmese ruby and diamond ring sold for $389,230, above its $244,000 to $359,000 presale price range.

Image: The Bulgari necklace. (Phillips)

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Preview days at art fairs are typically well attended by serious collectors, but seeing a line that stretched around the corner at TEFAF New York as the doors opened at 1 p.m. was surprising.

The invitation-only preview on May 11 preceded the art, antiques and design fair’s public days, which took place from May 12 to 16 at the city’s Park Avenue Armory. TEFAF New York is one of two fairs operated by The European Fine Art Foundation (TEFAF), which is best known for the TEFAF Maastricht fair in The Netherlands.

As the preview got underway, people continued crowding through the entrance to the main showroom. This activity spread to the exhibition spaces of the three contemporary jewelers and two jewelry dealers at the event. These preview events normally become busy in the early evening, when people leave work. Seeing this type of activity early on shows the market for collecting jewelry, as well as art, antiques and design, remains strong.

The official press release from the first day cited multiple sales by high art jeweler Hemmerle, based in Munich, Germany, and New York jewelry dealer FD Gallery, which, in addition to its collection of 20th- and 21st-century pieces, had several by contemporary jeweler Alessandro Sabbatini, who goes by the name Sabba. Visiting both spaces, it was easy to see why. Hemmerle, with a room by the entrance of the fair, was filled with collectors from the moment the doors opened.

The husband-and-wife team of Didier and Martine Haspeslagh, owners of London jewelry gallery Didier Ltd, deal in pieces created by modern artists acquired on the secondary market. Their space was located at the far end of the entrance hallway past the entrance to the main showroom. It’s the same space they had the prior year, and they said people had difficulty finding them previously. This year, fair officials improved signage and were holding special events in meeting rooms just outside.

It must have paid off, as the business sold a number of pieces to American and Middle Eastern collectors, TEFAF reported. Among the items sold were a double-headed gold, enamel and gemstone bangle by Franco Cannilla, circa 1950; a gem-set gold brooch with an abstract landscape with palm trees by Afro Basaldella; and a pair of white and yellow gold kinetic earrings by artist Sebastiano Balbo. It also sold a “unique” necklace with a lupin flower designed by Claude Lalanne in 1972 and cast in 18-karat gold by the Greek jeweler Zolotas.

Geneva-based Swiss jeweler Boghossian was in a room on the second floor. It was a bit quieter than the other spaces, but as this reporter was being shown around, two well-dressed young women were intently looking at its pieces. It didn’t take long for them to request a private showing.

One of the jewelry exhibitors’ staff members told me TEFAF was looking for more contemporary jewelers to exhibit at the show. The difficulty, the person said, is finding true artist jewelers. Jewelers who have exhibited at past TEFAF New York and Maastricht fairs include Wallace Chan, Cindy Chao, Glenn Spiro, Anna Hu and Ana Khouri.

Image: The May 2023 TEFAF New York show. (TEFAF)

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A 6.22-carat pink diamond ring led the most recent New York Jewels sale at Bonhams, bringing in $1.2 million.

The cut-cornered rectangular modified brilliant-cut, fancy-pink, SI2-clarity diamond ring met its upper presale estimate. It was one of 64 items from the collection of an “international lady,” Bonhams said Wednesday. Some 99% of that group found buyers at the May 23 auction.

Other jewels from the collection included a ring featuring an emerald-cut, 10.61-carat, fancy-yellow, internally flawless diamond flanked by trilliant-cut diamonds. That piece sold for $241,800, nearly three times its upper price tag.

A ring by Cartier with an Ashoka-cut, 5.06-carat, D-color, VS1-clarity diamond fetched $222,750 at the sale. The piece, which also contained smaller Ashoka diamonds weighing 1.08 and 1.09 carats, surpassed its high presale price. Meanwhile, a ring by designer Kunz bearing a rectangular step-cut, 6.68-carat diamond with D color and VVS2 clarity garnered $197,350, beating its $150,000 upper price.

In total, the sale achieved $4.9 million, with bidders purchasing 86% of goods on offer.

Image: The 6.22-carat pink diamond ring. (Bonhams)

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Following their recent collaboration, Perry notes the importance of expanding the industry’s provenance capabilities and highlights how technology can enable better storytelling. He outlines some of the benefits from the De Beers-GIA cooperation, which taps both organizations’ resources to inspire trust among consumers.

Listen to the podcast here:

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Christie’s will offer a 29.60-carat yellow diamond at its upcoming Paris auction, assigning it a high estimate of EUR 400,000 ($434,395).

The cushion-cut, fancy-intense-yellow, VS1-clarity stone will be joined by a royal blue, 7.58-carat Kashmir sapphire, with the same upper price target, Christie’s said Monday. Both will lead the online Joaillerie Paris sale, which will take place from June 9 to 21.

A necklace featuring a 14.86-carat Colombian emerald and diamonds is expected to garner between EUR 150,000 and EUR 200,000 (between $162,898 and $217,198) at the sale. Meanwhile, an 8-carat Burmese ruby ring will also go under the hammer, carrying a presale estimate of EUR 100,000 ($108,599) to EUR 200,000.

A Chaumet ring containing a Ceylon sapphire weighing more than 30 carats has a price range of EUR 100,000 to EUR 150,000. The auction will showcase jewelry from well-known designers including Belperron, Boucheron, Bulgari, Cartier, Tiffany & Co. and Van Cleef & Arpels.

Image: The 29.60-carat yellow diamond. (Christie’s)

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