JNA Oct 2018

NEWS JNA | 10 | OCT 2018 T he 18.96-carat Pink Legacy diamond is expected to dazzle buyers at Christie’s Magnificent Jewels auction in Geneva on November 13. According to the auction house, the rectangular cut pink diamond descended from the Oppenheimer Family and is valued at US$30 million to US$50 million. It is the largest fancy vivid pink diamond ever offered at any Christie’s auction. Christie’s International Head of Jewellery Rahul Kadakia commented, “The discovery of this previously unrecorded and remarkable diamond will cause immense excitement among collectors and connoisseurs of diamonds around the world. The Pink Legacy will be exhibited on a global tour prior to being auctioned at the Four Seasons Hotel des Bergues. Its exceptional provenance will no doubt propel it into a class of its own as one of the world’s greatest diamonds.” The Pink Legacy has been awarded the highest diamond colour grading of “vivid” by the Gemological Institute of America. Vivid fancy colour diamonds are the most strongly saturated gems, displaying the optimum hue of the stone. It is a classic rectangular cut diamond, a cut that is traditionally used for white stones, and weighs 18.96 carats when most pink diamonds of this colour weigh less than a carat. The Pink Legacy is also internally very pure which is extremely rare in pink diamonds where the colour is formed by pressure and slippage of the crystal lattice which typically causes imperfections in the stone. In addition, it classifies as a Type IIA diamond, which contains little if any nitrogen and accounts for less than 2 percent of all gem diamonds. Type IIA stones are some of the most chemically pure diamonds, often with exceptional transparency and brilliance. In the saleroom, fancy vivid pink diamonds of over ten carats are virtually unheard of and only four vivid pink diamonds of such nature have ever been offered for sale at auction. An historic level was reached in the international diamond market in November 2017 when Christie’s Hong Kong sold “The Pink Promise,” an oval- shaped fancy vivid pink diamond of just under 15 carats for US$32.48 million (U$2.18 million per carat), setting a record price per carat for any pink diamond. ‘PINK LEGACY’ to impress at Christie’s Geneva auction The Pink Legacy World Gold Council ESTABLISHES CHINA CHAPTER The China Chapter, meanwhile, will pave the way for greater interaction between the Chinese gold industry and the international gold market, further enhance the Chinese gold industry’s international influence, and promote its continued evolution, commented Song. C iting China’s growing importance in the global gold industry, the World Gold Council (WGC) recently formed a new China Chapter and added gold producer Shandong Gold Group to the council’s board. The chapter, to be chaired by China Gold Group Chairman Song Xin, is aimed at enabling Chinese member companies to engage more effectively with the rest of the WGC board, according to the council. David Harquail, chair of the WGC, said, “The Chinese gold industry has developed phenomenally over the past couple of decades, and China is now the largest producer and consumer of gold globally. As such, we are delighted that the WGC’s membership is expanding to better reflect the shape of the global gold mining industry.”