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.