NYC Wholesale Diamonds Blog

Holiday Gift Guide 2018

With two new collections to debut, you’re sure to find that perfect gift you’ve been searching for!

View the full collection HERE

To order or Inquire Call Us at (212) 719-2214 or Email KS@nycwd.com

Congratulations to Emily and Zach!

It was such an honor to create such a beautiful and special ring for your Thanksgiving Proposal!

And a HUGE Thank you to Zach for taking the time to write us our latest 5 Star Review!

“Keith really went above and beyond to help me figure out what my fiancé wanted and incorporate what I liked. What could’ve been a very stressful and intimidating experience was not only easy but personal. I appreciated Keith’s professionalism and honesty throughout the entire process as he guided me through what to look for and what to consider when making the final decision. I couldn’t be more grateful for Keith and NYC Wholesale Diamonds. I will definitely be recommending Keith to my friends that are planning to get engaged in the near future.”
~Zach F.

Prices Continue to Rise for Rare, Fancy Diamonds

24-Carat ‘Moon of Baroda’ Diamond Sells for $1.3M

Hong Kong—The 24-carat yellow diamond that captivated Indian and Hollywood royalty alike sold for $1.3 million at the Christie’s Hong Kong jewelry auction Tuesday.

The “Moon of Baroda,” a 24.04-carat fancy yellow pear modified brilliant-cut diamond suspended on a black leather cord, nearly doubled its highest pre-sale estimate of $750,000 (when including buyer’s premium).

Hollywood icon Marilyn Monroe wore the stone in 1953 while promoting the release of “Gentleman Prefer Blondes,” the film where she famously sang “Diamonds Are a Girl’s Best Friend.”

Christie’s said the Gemological Institute of America determined the diamond was unearthed at Golconda, the region of India known today as Hyderabad that produced some of the world’s biggest and most beautiful diamonds until its mines ran dry in the early part of the 20th century.

Christie’s said The Moon of Baroda was likely mined there between the 15th and 17th centuries.

At one time, the diamond might have been part of the collection of the Gaekwads of Baroda, one of India’s wealthiest ruling families.

In more recent years, the diamond has belonged to Cleveland, Ohio-based diamond cutter Samuel H. Deutsch, who bought it in 1944 and sold it to Meyer Rosenbaum, president of Detroit’s Meyer Jewelry Company, in 1953.

Nearly four decades later, The Moon of Baroda went up on the block at a jewelry auction, selling at Christie’s New York for $297,000 in 1990.

Selling alongside the Moon of Baroda at Christie’s Hong Kong Tuesday was a black-and-white photograph of Monroe wearing the necklace (pictured above), signed and inscribed with: “To Meyer Thanks for the chance to wear the Moon of Baroda.”

The picture went for about $35,000, more than doubling its pre-sale estimate.

Also sold Tuesday at the jewelry auction was “The Peacock Necklace” (pictured above), a diamond and sapphire necklace set with 21 Kashmir sapphires weighing a total of 109.08 carats.

The auction house estimated it would go for between $12 and $15 million. The necklace ended up selling at the high end of its estimated range, garnering about $14.9 million.

By Brecken Branstrator, National Jeweler

As Argyle Nears Its End, Prices for Reds and Pinks Soar

Perth, Australia—Rio Tinto doesn’t release many details when sharing the results of its annual Argyle tender but, then again, one doesn’t need many specifics to trace the trajectory of red and pink diamonds prices.

They are climbing and will continue to do so as the closing date for the Argyle Mine in Western Australia draws closer.

And though the London-based miner always has been tight-lipped about the Argyle Pink Diamond Tender results—it doesn’t reveal the sale’s total, prices paid for individual diamonds or names of buyers (unless allowed)—it did note that the 2018 sale set numerous records, including tender total and prices per carat.

The diamond that sold for the most money was the “Argyle Muse,” a 2.28-carat fancy purplish-red oval.

Purchased by an undisclosed bidder, Muse is now the most expensive diamond sold in the 34-year history of the tender.

Muse took the title from Everglow, the fancy red Optimum Diamonds LLC bought last year.

Though he declined to reveal the Everglow’s purchase price, Optimum CEO David Shara said the 2.11-carat diamond is for sale for $18 million.

It is also being offered as part of a collection of more than 60 red diamonds amassed by the CEO and his business partner; he said it is the largest collection of its kind in the world and is worth about $200 million.

For Shara, natural colored diamonds, particularly those originating from the Argyle mine, are akin to a “very specific painting from a very specific artist.”

The wealthy want to own rare diamonds from Argyle for the same reason they are paying huge amounts of money for works for art, like the $450 million a Saudi prince spenton Leonardo da Vinci’s “Salvator Mundi” last year—they want to park their money in tangible, portable assets at a time of geopolitical instability worldwide.

“That’s how people are treating these rocks,” he said.

The desire for colored diamonds is also evident in the auction market, where the stones are continually setting records.

At a jewelry auction just last week, Christie’s sold an 18.96-carat pink diamond for $50.4 million, or $2.6 million a carat excluding fees, a new price-per-carat record. And the most expensive jewel ever sold at auction is still a pink diamond, the nearly 60-carat Pink Star, which garnered for $71 million.

According to Shara’s estimates, the prices paid for a 1-carat vivid pink or a 1-carat fancy red in this year’s Argyle tender were up 41 percent year-over-year, and he expects prices for Argyle pinks and reds to spike at least another 40 percent when the mine closes 18 months from now.

“That’s what the market dictated, the dealers and the privates, everyone who bought. That’s people understanding the mine will be closed in 2020 and that there will be two, maximum three, more tenders and that’s it. It’s finished.”

Rio Tinto did not respond when asked to confirm this fact, but the mining company did state in its tender results press release that in the past 18 years, the value of Argyle pink diamonds sold at the tender have appreciated more than 400 percent, outperforming all major equity markets.

Shara said despite the continual upward trajectory, he’s not concerned about the bottom falling out of the market for Argyle’s pink, red and violet diamonds. While there has been some price correction in colored diamonds, Rio Tinto’s mine is a finite resource for which the finale is drawing near.

“That’s what so fascinating about it. That’s my gamble.”

Rio Tinto’s 2018 sale of pink, red and violet diamonds from Rio Tinto’s Argyle mine in Western Australia included a total of 63 diamonds weighing nearly 52 carats.

Among them were a half-dozen “hero stones,” the top diamonds in the group to which Rio Tinto ascribes individual names.

In addition to the Muse, they were the:

—Argyle Alpha, a 3.14-carat emerald-cut fancy vivid purplish-pink;
—Argyle Maestro, a 1.29-carat square-cut fancy vivid purplish-pink;
—Argyle Alchemy, a 1.57-carat fancy dark gray-violet princess;
—Argyle Odyssey, a 2.08-carat fancy intense pink round brilliant; and
—Argyle Mira, a 1.12-carat fancy red radiant.

Glajz THG in Singapore, a manufacturer of bespoke pieces, bought the Alpha, while Gemcut Geneva was the winning bidder for the Odyssey. Gemcut Chief Executive Matthew Aldridge said the Odyssey is a match for another Argyle stone sold in the tender about 15 years ago.

New York-based diamond company Leibish & Co. bought three stones in the 2018 tender, two of which sold the day they were purchased, said the company’s director of content marketing and public relations, Meira Ovadia.

Leibish’s remaining stone is lot No. 63 from the sale, a 2.34-carat radiant-cut the company has dubbed the “Kimberley-Rose.” The diamond is fancy intense pink and SI1 clarity.

By Michelle Graff, National Jeweler

Our new collection is here, and just in time for the Holidays! Make this season a memorable one with one of our stunning, quality pieces available at wholesale pricing!

Call NYC Wholesale Diamonds (212) 719-2214

Email Us anytime KS@nycwd.com

Call NYC Wholesale Diamonds (212) 719-2214 or Email Us anytime KS@nycwd.com