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☆ Lab-Grown Diamonds Come With Sparkling Price Tags, but Many Have Cloudy Sustainability Claims
  + stars: | 2024-02-13 | by ( Associated Press | Feb. | At A.M. | ) www.usnews.com   time to read: +7 min
In the U.S., lab-grown diamond sales jumped 16% in 2023 from 2022, according to Edahn Golan, an industry analyst. Social media posts show millennials and Generation Zs proudly explaining the purchase of their lab-grown diamonds for sustainability and ethical reasons. Natural diamonds take billions of years to form and are difficult to find, making their price more stable. Globally, lab-grown diamonds are now 5-6% of the market and the traditional industry is not taking it sitting down. It's also still true in more rural areas of the United States, while lab-grown diamonds have taken off more in the cities.
Persons: Bario Neal, Haley Farlow, ”, Golan, Zs, Farlow, that's, Cupid, Martin Roscheisen, Paul Zimnisky, Zimnisky, It's, Mother Earth, ” Zimnisky, Page Neal, it’s Organizations: PHILADELPHIA, Diamond, Diamond Foundry, telltale, Gemological Institute of America, Mother, Associated Press Locations: Philadelphia, U.S, India, China, Henan, Zhuhai, Na Diamond, HeNan, Ningbo Crysdiam, United States, Wenatchee , Washington, Columbia, AP.org
☆ Zircons Are Not the Gem You Probably Think They Are
  + stars: | 2024-01-30 | by ( Tanya Dukes | ) www.nytimes.com   time to read: +1 min
If you could ask the humble zircon, the answer might be mistaken identity and decades of undeserved obscurity. In the Victorian era, the peak of popularity for zircons, a mined mineral, colorless ones were regularly used as diamond alternatives and blue ones were particularly popular. “Zircon can come in a wide range of colors — blue, yellow, brown, green and, rarely, a purplish-pink color,” said Nathan Renfro, senior manager of colored stone identification at the Gemological Institute of America. Then, along came cubic zirconia, an inexpensive synthetic crystal discovered in the 1930s but not developed to the point it could be faceted until 1969. By the end of the 1970s, it bypassed zircon and became the most common diamond simulant.
Persons: ”, Nathan Renfro, “ Organizations: Gemological Institute of America
☆ New sanctions on Russian diamonds will change the global trade in gems
  + stars: | 2024-01-22 | by ( Sarah Kent | ) edition.cnn.com   time to read: +5 min
But as of the start of January, EU and G7 countries have banned the direct purchase of non-industrial diamonds from Russia. This move will be followed by further restrictions on the import of Russian diamonds processed in third countries starting in March. Industry groups including the World Diamond Council, Antwerp World Diamond Centre, the Gem and Jewellery Export Council of India and the Gemological Institute of America (GIA) have been working together to develop an effective solution. What does this mean for the diamond industry? LVMH-owned Tiffany and Richemont both said they stopped sourcing Russian stones shortly after the war in Ukraine broke out.
Persons: Russia’s, Pavel Alekseevich Marinychev, ”, Paul Zimnisky, Russia they’ll, Andrey Rudakov, Morgane Winterholer, De Beers, Tiffany, Richemont Organizations: CNN, European, Bloomberg, Getty, EU, Industry, World Diamond Council, Diamond Centre, Jewellery Export, of India, Gemological Institute of America, “, ”, GIA Locations: Ukraine, Canada, Japan, France, Germany, Italy, Antwerp, Belgian, Russia, Europe, Moscow, “
☆ A rare blue diamond just sold for $44 million at a Christie's auction
  + stars: | 2023-11-08 | by ( Grace Dean | ) www.businessinsider.com   time to read: +2 min
A rare blue diamond set in a ring sold for $43.8 million at a Christie's auction in Geneva. Christie's said that the 17.61-carat diamond, the Bleu Royal, is among the rarest to exist. AdvertisementAdvertisementA rare blue diamond set in a ring sold for 39.505 million Swiss franc ($43.8 million) at a Christie's auction in Geneva on Tuesday. The 17.61-carat Bleu Royal diamond is pear-shaped and is described as a "Fancy Vivid Blue" gem. "Large, vivid fancy color diamonds are extremely rare and very valuable," according to the Gemological Institute of America (GIA).
Persons: Christie's, —, Denis Balibouse, Reuters Christie's, Cartier, – Organizations: Gemological Institute of America, Service, GIA, Reuters Locations: Geneva
☆ Diamonds, From Your Ring to Your iPhone
  + stars: | 2023-02-14 | by ( Jinjoo Lee | ) www.wsj.com   time to read: 1 min
How would you feel about giving, or receiving, a 4-carat engagement ring? Lab-diamond producers are putting them within reach, and (almost) nobody can tell they cost less than a Ferrari. Those rings are also funding an even bigger aspiration: putting diamonds into electronics. Walk into a jeweler these days and chances are you will be offered a lab-diamond option. It is an enticing one: Lab-grown diamonds have essentially the same chemical, optical and physical properties as mined diamonds, according to the Gemological Institute of America.
☆ 33-year-old jewelry designer ditched Amazon and Walmart, now brings in $4.8 mil/year: Big companies 'make such stupid mistakes'
  + stars: | 2022-12-08 | by ( Zachary Green Megan Sauer | Zachary Green | In Zachary-Green-News | ) www.cnbc.com   time to read: +5 min
Automic Gold's growing popularity is backed by an unconventional strategy: ditching those major platforms and selling only on its own website. Al Sandimirova officially founded Automic Gold, an size- and LGBTQ-inclusive jewelry company in 2016. In 2021, its first full year exclusively selling jewelry from its online storefront, it brought in $4.8 million. "Regular companies assume it's harder to target the LGBT community," Sandimirova says. Searching for outletsSandimirova named Automic Gold — spelled to include "AU," the chemical abbreviation for gold, and pronounced like "atomic" — with "autonomy," independence and freedom in mind.
☆ Michael Schumacher's winning Ferrari up for auction in Geneva
  + stars: | 2022-11-04 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Denis BalibouseGENEVA, Nov 4 (Reuters) - The Ferrari driven to five race victories by Michael Schumacher during his World Championship-winning 2003 Formula 1 season is being auctioned next week in Geneva, auction house Sotheby's said on Friday. The red "Chassis 229" Ferrari raced by German world champion driver Schumacher nine times could fetch up to $9.4 million, according to the sellers. Sotheby's is also presenting eight rare "Fancy Blue" diamonds valued at more than $70 million. This colour is the highest possible colour grading for blue diamonds and is awarded to no more than 1% of blue diamonds submitted to the Gemological Institute of America, Sotheby's said. "It is extremely rare and to have a collection of eight it is super exciting," said jewellery specialist at Sotheby's Geneva, Marie-Cécile Cisamolo.
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