A rare 101.27 carat diamond the size of a ping pong ball will be sold by auction house Christie’s in Hong Kong next month and is expected to go as high as $6-$7 million.

This is the largest colorless diamond to appear on the auction market in 18 years and one of only three colorless diamonds of over 100-carats to have ever been auctioned, Christie’s said.

The diamond, which is rated VVS1 (very very slightly imperfect 1st degree) for clarity is expected to fetch a relatively low per-carat price of $6 million.

A 39.34-carat “D” color, flawless diamond sold for $6.87 million at a Christie’s New York sale earlier this month.

Rare polished diamonds achieved all-time highs per carat at sales in Geneva late last year, although a much-hyped 72.22 carat “D” flawless white diamond did not sell at a Sotheby’s Hong Kong auction earlier this month, suggesting demand for top stones may be waning due to a weakening world economy.

The 101-carat “shield-shape” stone was cut from a 460-carat hunk of rough and mounted on a tiara, rather than a necklace or pendant given its extraordinary thickness.

Included with the auction are naming rights to the stone, who Christie’s said might come from Russia or the Middle East.

Other items to feature in Christie’s May 28 sale include a colored diamond ring set with a fancy green diamond estimated to be worth $3 million, as well as a rare emerald and diamond ring set with a 14.31 carat emerald which could go as high as $800,000.

Pink diamonds are recovered from a limited number of sources around the world. India, one of the oldest known pink diamond deposits, is recognized for diamonds of a pastel color. Brazil and South Africa have also been known to harvest stones of pink color. In 1979, an area in the northwestern region of Australia, near the Argyle Lake, was found to possess pink diamonds. This region is known to harvest a consistent supply of pink diamonds with a distinctive color.

The rarity of pink diamonds can be attributed to the unusual set of factors involved in creating this pink hue. The color can be attributed to the extreme geological forces exerted on the stone after formation. These extreme heat and pressure forces manipulate the diamonds structure. Pink diamonds rarely occur in a pure pink color. Diamonds with pinkish color normally exhibit modifiers of purple, orange and brownish hues.

There are two types of naturally occurring pink diamonds: Type Ia and Type IIa. Type Ia diamonds account for most of the worlds natural pink diamonds. These diamonds contain trace amounts of nitrogen. Type IIa, which are considerably rarer, are relatively nitrogen free.

Treatments
Color treatment processes have been around for hundreds of years. The most primitive process, often called “painting”, involves foil backing the stone to create a desired color. In recent years, more sophisticated treatments have evolved to create such colors. These treatments are more durable and require more intellectual process to detect. However, all treatment processes must be disclosed by the seller.

The most common color treatment process is known as High-Pressure High Temperature treatment (HPHT). HPHT process used to enhance the color of diamonds can also be used to remove color from diamonds, usually type IIa diamonds.

Synthetic Pink Diamonds

Pink diamonds can also be created in laboratories using HPHT growth machines as well as chemical vapor deposition (CVD). Using the HPHT method, diamonds are grown with Ib nitrogen impurities. Electron radiation is then used to enhance the color of the stone. The CVD method is a fairly new process. Diamonds created using this method contain type Ib components much like the HPHT method. Color enhancement treatments are then applied to enhance the color of the stone.

Pink Diamonds and The Market

Natural pink diamonds have always been a hot commodity for diamond collectors because of their extreme rarity. The limited supply of these colorful stones only adds to their rarity. It is essential that those looking to purchase colored diamonds have an awareness of the different kinds of colored diamonds available. It is also important to buy from those whom you feel comfortable. All honest and reputable sources disclose any treatment information. Trust becomes an important factor when buying precious gemstones especially when treatment options are difficult to detect.

Rolex has recently discontinued the manufacturing of a classic model, the Sea-Dweller, in favor of a new classic, the Sea-Dweller Deep Sea. The Deep Sea boasts a breath-taking water tight seal right down to 3,900 meters (12,800 feet)! Even more amazing is the fact that Rolex tests all of its watches 25% past the marked depth. That means the Deep Sea has been tested at over 4,900 meters (16,000 feet)! The beauty and elegance of the Deep Sea sets it apart from any other watch of its kind. The Deep Sea also comes equipped with a new adjustable double system clasp perfect for everyday use.  This easy-to-use clasp allows for quick band adjustment.

Additional features include the new Submariner, Oyster Perpetual Day-Date II and Oyster Cosmograph Daytona done in Everose gold. All of these watches are further proof of Rolex’s continuous pursuit of excellence!

The oldest piece of gold jewelry ever found in the Americas has been discovered near Lake Tikicaca in Peru. The necklace was made about 4,000 years ago. It is 600 years older than any other gold jewelry found in the Western Hemisphere to date. Mark Aldenderfer discovered the necklace while excavating a site for human remains.

The necklace was actually found about seven years ago but the find was kept quiet for fear of looters raiding the site. It is believed to have belonged to the Andean people who lived around that time period. The Andeans were hunters and gatherers before settling down in the Lake Tikicaca area. This important find shows the emergence of status symbols long before the rule of kings and queens. The necklace is being held at the National Institute of Peru and might soon be displayed in a museum.

The Hubble Space Telescope (HST), the famous telescope named for Edwin Hubble, is now being used to discover diamonds in space. Scientists working on the project hope it will help them understand how carbon rich molecules develop. Although the Hubble is not the first telescope, it has led to many extraordinary breakthroughs in astrophysics.

The Hubble provides the perfect mechanism to view extraterrestrial objects. Ground based telescopes have significant disadvantages when compared to the HST — blurred images caused by the atmosphere and no background from scattered light. The Hubble is also able to view ultraviolet light which is normally absorbed by our O-zone layer.

Most of the meteorites that crash to the Earth’s surface contain carbon. About 3% of the carbon in these meteorites contains tiny diamonds. These small diamonds are only about a nanometer in size. However, scientists believe that meteorites reflect the composition of interstellar gases and dust. If this is true, the presence of extraterrestrial diamonds would seem inevitable. These diamonds are believed to radiate large amounts of energy in the infrared wavelength, making the Hubble Telescope the perfect tool to seek these diamonds. Young stars that radiate high amounts of ultraviolet light make the best searching ground for these extraterrestrial diamonds.

The name “Rolex” is a century old this year and to celebrate, the auction house Antiquorum is hosting an auction event entitled “Revolution: The evolution of the Rolex Sport Watch”. This event will honor Rolex’s storied sport watch history, including its development of the worlds first impermeable watch case.

The auction will feature a prototype of the Sea-Dweller from 1967 and is expected to fetch upwards of $150,000, one of the highest pre-sale estimates of any Rolex sport watch. Among other watches featured will be a 1988 COMEX Submariner and a 1969 Cosmograph Daytona. More info here

Luxury Electronic addicts need look no further than Bling My Thing’s new “Golden Age” laptop. Unveiled at CeBIT 2008, “Golden Age” is a Macbook Air clad in 12,000 Swarovski crystals. The crystals are even more reflective than usual thanks to a coating of 24k gold applied under each crystal. The translucence of the crystals allows for true uber luxury. Each “Golden Age” takes about a week to fabricate since each and every crystal is hand-applied, so only 20 of these elegant computers exist, one of which will be for sale at Selfridges, Oxford Street, on March 18th. That is if you wont break the bank on the $39,750 price tag for the mega-laptop.

Sotheby’s Hong Kong recently announced the display of an extremely rare 72 carat pear shaped white diamond. Weighing in at an astonishing 72.22 carats, this is the largest flawless D-color pear shaped diamond to appear in auction in Asia. The diamond is estimated to be worth $9.5 - 12.5 million. The diamond has been graded by the Gemological Institute of America and is particularly revered for its excellent polish and symmetry.

This immaculate diamond was cut from an original rough diamond weighing in at 188 carats. It will be offered at the spring sale on April 10th. This diamond is sure to spark interest and intense bidding from avid collectors. Sotheby’s is known for auctioning diamonds and gemstones of extreme rarity and value including a 6.04 ct. Fancy vivid blue diamond ring which sold for an impressive $7.9 million and a 10.04 carat fancy vivid pink diamond which sold for $6.2 million.

If you happened to purchase a diamond between January 1, 1994, and March 31, 2006, you may be eligible for a small portion of the $295 million settlement with DeBeers. The settlement is part of an agreement entered in to by DeBeers for anticompetitive practices while not directly admitting to any wrong doing.

While some are claiming that you could get several hundred dollars for as small of a purchase as $2,000, it simply does not add up for me, especially once the lawyers get their share.

At any rate, if you would like to be a part of the class action lawsuit, all you need to do is fill out a claim form before March 19, 2008. If you want a shot at getting a few dollars from DeBeers head over to the Settlement Website and fill out the form there. If you have any questions or need assistance just call us here at the store.

The Junior League of South Bend and the American Culinary Federation invite the community to support the 2008 Chefs in the Heart of our Home Auction and Tour. This annual event will be Sunday, April 20 and tour 5 fabulous kitchens in the afternoon followed by a gathering in the main ballroom of the South Bend Marriott.

This event will offer hors d’oeuvres with a silent and oral auction which benefits childhood obesity and type 2 Diabetes. ACF will work in our community to provide nutrition-based education programs to children and parents. As a past benefactor, Images Jewelers will be making another donation this year, specifically a Laura Gibson necklace with apatite, rose quartz, purple jade and pink tourmaline. Please join our community leaders and show your support for this event.