De Beers, Diacore Buy Blues From the Cullinan Mine

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De Beers, Diacore Buy Blues From the Cullinan Mine

Postby PinkDiamond » Mon Nov 30, 2020 6:58 pm

They paid a lot for these diamonds, but once they're cut and graded they'll find out if this was a smart investment or not, and considering the amount they paid for them this is quite a gamble. :)

De Beers, Diacore Buy Blues From the Cullinan Mine
By Michelle Graff
michelle.graff@nationaljeweler.com
November 30, 2020


Image
The five blue diamonds recovered from the Cullinan Mine over the course of the same week in September are, from left to right, 9.61, 11.42, 17.57, 21.25, and 25.75 carats. (Photo courtesy of Petra Diamonds)

"London—De Beers Group and Diacore are partnering to buy the five blue diamonds recovered from South Africa’s Cullinan Mine in the same week earlier this year.

De Beers and the diamond manufacturer are paying $40.36 million, split equally between the two companies, for the collection, which totals 85.62 carats and ranges in size from about 10 to 26 carats.

Two natural color diamond experts, Joseph Namdar of Namdar Inc. and Eden Rachminov, said they cannot comment on the purchase price until the diamonds are polished and graded.

“I can tell you with absolute certainty, however, that the buyers are counting on the diamonds being graded as fancy vivid blue,” Namdar said. “Even if they are all graded intense blue, I don’t believe they (De Beers and Diacore) will cover their investment.”

Rachminov, chairman of the board of the Fancy Color Research Foundation, which collects and analyzes wholesale and retail data on fancy color diamonds, called the purchase of the five blue diamonds a ... "

https://www.nationaljeweler.com/diamond ... linan-mine
PinkDiamond
ISG Registered Gemologist


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