Where the world comes to find out about diamonds. In this Issue

Transcription

1 Newsletter Where the world comes to find out about diamonds November 2013 Volume 3 Number 11 In this Issue We feature Union Diamonds, What is the Ideal Cut Diamond? Diamond Mines and Miners around the world. Plus much more and all our regular features!

2 Where the world comes to find out about diamonds Newsletter of the Price of Diamonds website Price of Diamonds Newsletter November 2013 Edition Editor in Chief Michael Moore ~ Editorial ~ Advertising Technical Author Services Pty Ltd The PRICE OF DIAMONDS NEWSLETTER Is the Newsletter of the Price of Diamonds website and is available by subscription only. This Newsletter is provided subject to the condition that it shall not be circulated in any form without the publisher s cover and acknowledgement of the material contained herein and is not to be sold, hired or otherwise disposed of for any fee or consideration other than by prior arrangement. It may be distributed online and passed along only in its current form and with the above proviso. Comments and articles published in the Price of Diamonds Newsletter are not necessarily the opinions of the Publishers or Editors and are offered solely for information purposes only. This publication is designed to provide accurate and informative information only in regard to the subject matter covered. This publication does not purport to offer any professional advice of any legal, financial or psychological service and is sold with the understanding that the publisher, editor and contributors are not engaged in rendering any legal, financial, psychological or any other professional service and is offered for information purposes only. If any legal, financial, psychological or any other professional advice or assistance is required, the services of a competent professional person should be sought. The reader is solely responsible for his/her own actions. Dear Reader, This month we feature Union Diamonds as the Diamond Dealer of the month. Also what is the Ideal Cut Diamond? Diamond Mines and Miners around the world plus much more and all our regular features! Do have a great month and happy reading! Michael Price of Diamonds Copyright 2013 By Technical Author Services Pty Ltd. All Rights Reserved. All copyrights and trademarks belong to their respective owners ~oo00oo~ 2

3 ~ Diamond Dealer of the Month ~ A lthough Union Diamond are one of the most well known diamond dealers in the US it is a good ideal to find out more about them by reading this review before you buy diamonds from uniondiamond.com. ignorant questions by phone. After you have called they call back right away. They in minutes. They go into any level of detail needed to satisfy your query. They will even fax you a cert, or a Sarin report, or any photo of a setting. Pretty much anything you want virtually instantly. In various follow up tests, every staff member amazingly showed an excellent level of knowledge and patience. Who are Union Diamond The Union Diamond Corporation was started in September 2001 by Scott Anderson, CEO and Tony Rixom, COO of Union Diamond. Union Diamond used to be a wholesale operation selling loose diamonds to jewelry stores and other dealers. However they have extended their operation to sell direct to consumers. Union Diamond Corporation now sells wholesale and retail loose diamonds, pre-made and custom-made jewelry, and watches online and through their showroom in Atlanta, Georgia. All their products are distributed from one location. Their customer service includes education by live diamond experts offering telephone consultations. including advice from diamond industry veterans president and CEO Scott Anderson and COO Tony Rixom. This is a smaller but growing operation that gives excellent, personal service and great prices. Union Diamond Products Union Diamond have access to an extremely wide and diverse range of products, partially because they are really wholesales originally and evidently have retained all the contacts that wholesales would have. You can ask for what you want, and if they do not already have it in stock, they will be able to get it for you in a day or so. This includes all the cuts, sizes, grades, unusual shapes even as well as extra fine qualities for the discerning buyer. They have a very simple and easy to use search engine. It is also very fast and orderly and very clear. Usually a diamond grading report accompanies any of the loose diamonds. The most common will be a Gemological Institute of America (GIA) or an American Gem Society (AGS) report. These laboratories are recognized world over and are totally independent of Union Diamond. Union Diamond Customer Service According to reports and feedback from past clients, the customer service of uniondiamond.com is nothing short of superb. The consultants are very knowledgeable about diamonds and also very patient and helpful. Something often missing when a person asks many inane or The price of diamonds at Union Diamond are very competitive. The margin on the diamond price is small and they offer some of the cheapest I have seen around. Union Diamond Payment Options Union Diamond accepts Visa, MasterCard, Dis- 3

4 cover and American Express. All orders paid for by credit card pay the stated price. Union Diamond Corporation state, All credit card orders must be shipped to the billing address. We are happy to send your order to a work or alternate shipping address but that address must be placed on file your credit card company. All packages must have an adult signatory for release. However, paying by bank wire will give the customer a 3 percent discount from the regular stated price. On a big ticket item, this is a worthwhile saving. But you have to make your choice in the beginning. You cannot change midstream to get the discount. This is likely because the merchant incurs fees for credit card use. Bank wires are cheaper for the merchant so they can offer the discount. Returns Policy of Union Diamond The Union Diamond Corporation ( Union Diamond ) offers a Thirty (30) day return guarantee. As most dealers only offer 7 days this is quite generous. This does not apply to custom order however. Whereas a standard order item can be resold, custom made products are understandably much more difficult to sell. Union Diamond state, In the event that a customer decides to exchange an item, the exchange must be made within the 30 day return and exchange period from the date of shipment. The exchange of an item does not extend the original return and exchange policy and the customer should be fully aware that any such right to return or exchange any item under our 30 day return policy will expire after the 30th day of the date of the original shipment. Full details of the return policy is on the website. Price of Diamonds Union Diamond Warranties Union Diamond also warrants that all merchandise will be free of workmanship and manufacturing defects. They also suggest that you contact your insurance professional and have the item fully insured. More Information on Union Diamond Union Diamond is located in Atlanta, Georgia 30339, USA and is required to collect sales tax for items purchased and delivered within the State of Georgia. They do not collect any sales tax for items that are shipped anywhere else within the USA so if any sales or use tax is due in your state, it will be your responsibility to contact the state in question and inquire about any possible tax liabilities. The Union Diamond Corporation also advise that all the diamonds advertised on their site have been supplied from legitimate sources not involved in funding conflict and in compliance with United Nations Resolutions. Union Diamond Corporation state they guarantee that their diamonds are conflict free, based on personal knowledge and/or written and verbal guarantees provided by any supplier of these diamonds. If you have bought any diamonds, diamond jewelry or other products from uniondiamond.com, please feel free to leave your feedback on the quality of service and products including any uniondiamond.com online complaints and special attention or service given by uniondiamond.com online. ~oo00oo~ 4

5 What is the Ideal Cut Diamond? The Ideal Cut diamond is one in which the light entering from the top and sides of the diamond is reflected back through the top to the viewer. This gives the most brilliance and sparkle and is how a diamond is really supposed to be. This is achieved by the cut. The light rays from all sides should bend towards the center and reflect back through the top in a blaze of light. If the diamond is poorly cut, say too narrow or too deep, then not all the light rays will do so and some will be lost resulting in a less brilliant stone. In a diamond that is cut too deep in fact it may even appear black in the center of the stone due to lost light. In a shallow cut stone the light leaks through the bottom and the diamond will give off a dull reflection. The ideal Cut is achieved through a special mathematical formula designed for cutting diamonds to a specific set of proportions discovered by Marcel Tolkowsky in It is important to know this when buying a diamond as, for example, although a deeper stone may have more carat weight but would not be such a desirable stone as the ideal cut with a lesser carat weight. Care should be taken when buying discounted diamonds because of this. A jeweler promoting the higher carat weight may omit to inform you of the deeper cut and the resultant less reflection and brilliance of the stone and corresponding less value. In short it may not be such a bargain after all. For the technically minded the actual proportions needed to produce the maximum brilliancy consistent with a high fire quality in a round diamond are computed as a percentage of the girdle diameter, are as follows: total depth, 59.3% (without provision for girdle thickness); crown depth, 16.2%; pavilion depth, 43.1%. The bezel angle is 34 30% and the pavilion angle is 40 45%. Ask the jeweler or dealer if the cut is a Ideal Cut and get him or her to put it in writing. There is no substitute for getting a independent appraisal also and doing your own due diligence. That way you can be sure you are getting the ideal diamond in the form of an Ideal Cut! ~oo00oo~ 5

6 Diamond Mines & Miners Around the World Y ou might be surprised to learn just how many diamond mines there are in the world. There are just fewer than 40 diamond mines in the world currently. Around 11, such as the Argyle Diamond mine in Western Australia (The larges) are big mines but the majority are small as mines go. Some are alluvial mines, which is to say where diamonds can be found on the surface having been exposed by erosion due to weather or water. The rest are either open pit or cut with some underground. Most of the diamonds produced are industrial grade. That is to say, they are unsuitable for jewelry as the quality of the diamond is too inferior. But they are excellent as diamond cutters in industry to cut hard substances such as steel. However laser is now replacing many diamond cutters even when it comes to cutting diamonds themselves. Here is a list by country. Angola Catoca Diamond Mine. This the fourth largest diamond mine in world. Fucauma Diamond Mine. Newly constructed and open just a few years. 40 percent owned by Endiama and 35 percent by Trans Hex. The Luarica Diamond Mine is also 70 percent owned by Endiama and Trans Hex collectively The Luzamba Diamond Mine is Angola s largest alluvial mine and Endiama own a 50 percent slive of that too with Odebrecht owning the other 50 percent. Damtshaa Diamond Mine is a open pit mine owned by De Beers. The Jwaneng Diamond Mine is the richest mine in world and also owned byde Beers. The Letlhakane Diamond Mine is another De Beers mine. And the Orapa Diamond Mine is the largest and oldest of four owned by, you guessed in, DeBeers/Botswana. Congo (DROC or RDC) Bakwanga Mine: (aka Bushimaïe, Lubilash) An alluvial river mine. Forminière Diamond Mine. Also an alluvial mine located on the River Tshikapa, in Kasaï Lesotho The Letseng Diamond Mine is an open-cast mine in the Maluti Mountains 70 km from Mokhotlong. Namibia Elizabeth Bay Mine. An open-cast mine in the Namib desert, just south of Lüderitz. Namdeb. Orange River (Daberas) Mines. A collection of small Orange River alluvium mines in. Namdeb Namib Gov. Marine Mining. Diamond mining on the sea bed. Namco Mining operates a dredging fleet off the west coast of Namibia. Sierra Leone Magna Egoli Mine. This is the largest mechanized mine in Sierra Leone. 6

7 The Koidu-Sefadu Mines are ssubsistence digging in alluvium pits west of Koidu. And the Koidu Open Pit Mines takes advantage of a Kimberlite pipe just south of Koidu. map South Africa The Baken Diamond Mine is located along the Orange River in North Cape. Owned by Trans Hex. The Cullinan Diamond Mine. Probably one of the more famous diamond mines. This is an open Pit/Hard Rock diamond mine once owned by De Beers but now owned by Petra Diamonds. Finsch Diamond Mine, also owned by De Beers is an open-pit mine not far from Lime Acres. One of the oldest diamond mines is the Kimberley Diamond Mine. Mining operations started in but the Kimberley Open Pits were closed in The Koffiefontein Diamond Mine opened in 1870 and closed in The Oaks Diamond Mine. Located in the Limpopo province this is an open-pit mine also operated by De Beers. The Venetia Diamond Mine is a high producing mine with over 40 percent of the worlds diamonds produced there. Tanzania Williamson Diamond Mine. Another open cut owned mostly by De Beers. Zimbabwe Murowa Diamond Mine. Open Pit and Underground. 75% owned by De Beers. River Ranch Diamond Mine is another Open Pit and Underground mine. Also mostly owned by De Beers. Australia Argyle Diamond Mine based in the Kimberley is owned by Rio Tinto Ltd is the largest producer of diamonds in world today. They produce mostly industrial grade diamonds but also produce the majority of the much sought after pink diamonds. Borneo Cempaka Diamond Mines and based in Cempaka/ Riam Kanan, South Kalimantan and the alluvial diamonds are mined by indigenous artisanal Kalimantan miners. Canada Diavik Diamond Mine. The Diavik diamond mine is located in the NWT. The Ekati Diamond Mine, also located in NWT was Canada s first diamond mining operation. India Panna Diamond Mine. An alluvial mine in the state of Madhya Pradesh. Russia Aikhal GOK Mine is a collection of three open-pit kimberlite pipe mines: Aikhal, Jubilee, and Sytykan all based in Siberia Another Siberian mine is Anabar GOK Mine. This is in the northern most location of Russia s diamond mines. Jubilee (Yubileinaya) Mine. A newer open-pit kimberlite mine close to Udachny. Alrosa. The Mirna Mine is the largest diamond deposit in Russia. Udachnaya (Udachny) Pipe Mine is one of the deepest diamond mines in the world. USA Crater of Diamonds State Park, Arkansas. Mostly for tourists although some larger jewelry quality stones have been found there Kelsey Lake Diamond Mine, Colorado Principle Diamond Mining Companies Some of the principle diamond mining companies include: ALROSA, operates mainly in Russia. 7

8 BHP Billiton, 80% owner of the Ekati mine as well as many other mineral mines, iron ore and other metals. Camphor, 4.9% owner of Gahcho Kue Diamond Mine Project. De Beers, probably the most famous diamond miner and owner of 20 mines in Africa, 70% owner of the Northwest Territories Snap Lake Diamond Mine Project, 100% owner of Ontario s Victor Diamond Mine Project, 60% owner of the Northwest Territories Gahcho Kue Diamond Mine Project and participant in numerous joint ventures worldwide. A finger in many diamond pies. Also now have their own retail stores around the world. Debswana, a partnership between De Beers and the government of Botswana. Endiama, the national diamond-mining company in Angola and exclusive concessionaire Harry Winston Diamond Corporation, a 40% owner of the Diavik mine. Petra Diamonds, operates in five African countries, mines include the Cullinan, Koffiefontein and Williamson mines, also the sole operator of the Alto Cuilo project in Angola. Rio Tinto Group, partial owner of Argyle, Diavik (60%), and Murowa diamond mines. Tahera Diamond, owner of the Jericho mine in Canada. ~oo00oo~ What about other gemstones Amethysts Emeralds Garnets Jade Opals Pearls Peridot Rubies Sapphires Topaz 8

9 ~ Diamond News Around the World ~ Rio Tinto to Offer Three Red Diamonds in Pink Diamonds Tender The Wall Street Journal s Scene Asia reported that Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) is on tour, showing the diamonds that will be included in its 30th annual Argyle Pink Diamonds Tender. The company expects the Argyle Phoenix, one of three beyond rare red diamonds being offered, to fetch the highest price. As quoted in the market news: Though Rio Tinto declined to release price estimates for any of the gems in the tender, they expect the Argyle Phoenix, the largest of its three red diamonds, to attract the highest bid. The tender has offered just six red diamonds in its history, and never in the same year. Because of their rarity, red diamonds are hard to estimate in price. Earlier this year, a carat red diamond sold for more than $3.2 million, or $1.6 million per carat, at a Christie s auction in Geneva. The sale set a record for a red diamond on a per-carat basis. Tiffany s Global Sales Up 4.4 Percent in Latest Quarter Reuters recently reported strong diamond demand boosted Tiffany & Co. s (NYSE:TIF) global sales by 4.4 percent in the quarter ended July 31, to $925.9 million. That s lower than the $941.4 million that analysts were expecting, but the company has still opted to raise its profit expectations to a range of $3.50 to $3.60 per share, 7 cents higher than the previous range. As quoted in the market news: Sales growth would have been 8 percent if not for the strong U.S. dollar, which reduces the value of goods sold overseas. Same-store sales climbed 5 percent, in line with estimates. Excluding currency fluctuations, they were up 7 percent in Europe and 8 percent in Japan. Despite strong demand for high-end jewelry in Japan, overall sales there fell 14 percent because of the weak yen. Second-quarter net income rose to $106.8 million, or 83 cents per share, from $91.8 million, or 72 cents per share, a year earlier. Per-share profit beat the average Wall Street estimate by 9 cents, helped by lower pressure from diamond and gold costs. Afri-Can Marine Minerals Corporation (TSXV:AFA) recently released a historical estimate report stating that the Historical Estimate remaining on Diamond Fields International Ltd Mining Lease 111 is of 868,000 carats of diamonds. The analysis estimated the remaining Historical Estimate from two reports: a resource estimate and a feasibility study prepared by MRDI and AGRA-Simons in 2000, and a resource estimate prepared by SRK Consulting on a small area of ML 111 called Diaz Prospect 1, in As quoted in the press release: The Historical Estimate report summary is as follows: The analysis has estimated the remaining Historical Estimate from the two following reports: A resource estimate and a feasibility study prepared by MRDI and AGRA-Simons in 2000; A resource estimate prepared by SRK Consulting on a small area of ML 111 called Diaz Prospect 1, in 2006; ML 111 has 3 geological features that host Historical Estimates; Marshall Fork is the main deposit that has seen intermittent production between 2001 and 2007, and the Historical Estimate remaining in Marshall Fork stands at about 148,000 carats; 9

10 Diaz Reef has seen some small scale production and the Historical Estimate remaining there stands at about 479,000 carats; North Bay is composed of 3 deposits, has never been in production, and the Historical Estimate remaining stands at about 241,000 carats. Source: Diamond Investing News (diamondinvestingnews.com) In Short Avraham Eshed buys a single emerald rough of over 2,000 carats at Gemfield's auction The auction of high quality rough emeralds resulted in revenues worth $31.5 million Scott Kay appoints David Minster as CEO Previous to this new role, David Minster worked at David Yurman as CEO Global gold jewellery demand up 20% in Q2 India and China help propel demand Gem Diamonds' revenues drop 21% in H1 Profits plummet 40% Emerald centre planned in Malipo County The Malipo mine boasts large-scale emerald deposits Ghanasingh Be True launches haute couture jewellery collection The collection has been designed by Maheka Mirpuri Voila launches Desi Wooman collectionthe timepieces are inspired by celestial maidens GJF proposes Voluntary Self Regulation steps to curb gold imports Says government policies have not yielded substantial positive results in reducing the CAD so far Rioo Tinto appoints Jean-Marc Lieberherr to head its diamond business Jean-Marc Lieberherr will take on the role beginning September 1, 2013 Staff of Axis Bank get one day Gold Appraisal training programme The training was conducted at the IIGJ Kisna launches Heart Beat jewellery collection The launch took place at the IIJS 2013 Pranda launches new logo and tagline The new brand identity celebrates the company s 40th anniversary Ganjam sponsors candidate for Craft Olympiad the World Skills Competition, The candidate Mr Bhabesh Chandra Jana was awarded Medallion for Excellence in Jewellery IIJS 2013 Show Survey We have garnered new business, say 91 % of exhibitors GSI associates with Sanghvi Jewels Will provide Diamond Jewellery Certification service H.V. Jewels unfolds a glamorous evening 10

11 Showcases its Sparkling Desires Forever line of jewellery Price of Diamonds The website is more user friendly and enhances efficiency and continuity of the KP GJEPC and BDB confirm support towards World Diamond Mark Says this support is imperative towards the health of the diamond and jewellery industry AWDC announces launch of renewed KP website GIA seeking new President and CEO DHR International will undertake a global search for the same ~oo00oo~ Up and Coming Diamond & Jewelery Shows in 2013 NOVEMBER Vietnam International Jewelry Fair Dates: 07/11/ /11/ Days, Thursday To Monday Location: Ho Chi Minh City, Vietnam CONTACT DETAILS: Telephone: thanh.tran@sjc.com.vn Website: China International Gold, Jewellery & Gem Fair- Shanghai Dates: 08/11/ /11/ Days, Friday To Monday Location: Shanghai World Expo Exhibition and Convention Center, Shanghai, China CONTACT DETAILS: Telephone: Fax: salescjgf-hk@ubm.com Website: Jeweller Expo Ukraine November Dates: 14/11/ /11/ Days, Thursday To Saturday Location: Kyiv Expo Plaza Kyiv,Ukraine CONTACT DETAILS: Telephone: Fax: lesya@kmkya.kiev.ua Website: JUNWEX Ekaterinburg Dates: 21/11/ /11/ Days, Thursday To Sunday Location: Atrium Palace Hotel Ekaterinburg CONTACT DETAILS: Telephone: Fax: secur@restec.ru Website: view/214/195/ DECEMBER Dubai International Jewellery Week Dates: 04/12/ /12/ Days, Wednesday To Saturday Location: Dubai International Convention and Exhibition Center, Dubai CONTACT DETAILS: Nadeera Jayaratne Telephone: Nadeera.Jayaratne@dwtc.com Website: 11

12 KGJS Kerala Gem & Jewellery show Dates: 06/12/ /12/ Days, Friday To Sunday Location: Le-Meridien Convention Centre, Cochin CONTACT DETAILS: Telephone: Fax: kgjs@artofjewellery.com Website: Best Adornments of Russia Dates: 11/12/ /12/ Days, Wednesday To Sunday Location: All-Russian Exhibition Centre, Moscow CONTACT DETAILS: Mr. Alexey Poltavsky Telephone: Fax: watch@junwex.com Website: eng.rjexpert.ru/content/ view/214/195/ Jaipur Jewellery Show Dates: 20/12/ /12/ Days, Friday To Monday Location: Chamber Bhawan, Jaipur, Rajasthan, India CONTACT DETAILS: Telephone: /7 Fax: info@jaipurjewelleryshow.org Website: ~oo00oo~ ~ Diamond Quotes ~ If God wanted us to bend over he'd put diamonds on the floor. Joan Rivers Let us not be too particular; it is better to have old second-hand diamonds than none at all. Mark Twain No pressure, no diamonds. Thomas Carlyle 12

13 Diamond Glossary H ere are some common words used in the Diamond Industry and in this newsletter. 4Cs Diamonds are graded and priced according to what is universally referred to as the "4C's". They are Cut, Color, Clarity and Carat Weight. Below an explanation of each of the 4Cs: Appraisal A valuation of property by the estimate of an authorized person. With diamonds the appraisal is a written estimate of the approximate retail replacement value of diamond jewelry, which may be used for insurance coverage or other purposes. It is not the same as a grading report, which evaluates a diamond's characteristics (such as cut, clarity, carat, symmetry, etc.) only. Blemish A scratch or abrasion on the surface of a diamond. Provided they do not interfere with the symmetry of the stone and do not interfere with light in the stone they are not considered important. Brilliance brilliance is the white light that is reflected through the top of a diamond. This can be increase by the diamond being cut to the correct proportions to take advantage of the reflection of light from the facets to the brilliance. Brilliant Cut A Brilliant Cut, sometimes called the American Brilliant, is a 58-facet round diamond, This shape and faceting arrangement is designed for maximum brilliance, sparkle and beauty and is perhaps the most popular shape. Carat Perhaps everyone know the term carat. The basic unit of weight for a diamond. A carat is equal to 200 milligrams, or one-fifth of a gram. It is said that the word is derived from the word carob. In early India the carob bean was used for measuring the weight of gems as every carob seed weighs exactly the same. Clarity Clarity is the term given to indicate the purity of a diamond. Most diamonds have minute imperfections and the clarity is the way of grading the purity depending on the number of imperfections the diamond has or does not have. Cloud A cluster of very small inclusions inside a diamond that give a cloud effect. Tiny clouds will not interfere with the flow of light, but large or numerous clouds can affect brilliance. Color Diamonds are traditionally thought of as white or clear. But diamonds in fact do have color and this can be graded. Crown The crown is the top section of a diamond, above its widest point, or girdle, that comprises the table, and the star-, bezel- and uppergirdle facets. Culet A facet on the very bottom of a diamond. It is best to have a small or medium culet. A large culet will make it look like there is a hole in the bottom of the stone due to leakage of light. Absence of a culet makes the point of the diamond more easily damaged or chipped. 13

14 Cut This describes the shape of the diamond. There are basically eight cuts of diamond. Round Brilliant Emerald Cut Princess Cut Heart Cut Oval Cut Marquise Cut Pear Cut Round Brilliant Some of the most popular diamond cuts include Heart, Emerald, Marquise (Oval with pointed ends), Oval, Pear, and Princess with the Round Brilliant (R/B) probably being the most popular. Depth % (percentage) The height of a diamond (measured from the culet to the table) divided by the width of the diamond. The depth % is critical to creating brilliance and fire in a diamond. A depth % that is too low or too high will cause light to leak out of the stone, causing the diamond to lose sparkle. Depth The height of a diamond (measured from the culet at the very bottom to the large table facet on the top). Diamond The simplest of all the gemstones consisting of pure crystallized carbon. A diamond crystallizes under enormous pressure deep beneath the earth's surface Diamonds can be from 1 to 3 billion years old--more than two-thirds the age of the Earth itself. Diamond is also the hardest substance known to man. In fact, it can only be cut and polished by another diamond. Despite its hardness, however, it is not indestructible. If a diamond is struck at the right angle, it can chip or break. Eye-clean A diamond that has no inclusions visible to the naked eye -- flawless to the naked eye. This is normally true of all diamonds with a grade of about SI-1 or higher on the clarity scale. Facet The polished flat surfaces on a diamond. For example, a round brilliant diamond has 58 facets including the culet. Fair Cut Diamonds cut to less than perfect proportions. They have been cut to maximize the weight of the stone instead of enhancing the brilliance and sacrifice fire and brilliance. The less expensive stones may have good and very good cuts but will not have the same brilliance and fire that people would expect from a diamond. Fire Fire is the colored light that is reflected from inside the diamond. Colored light reflected from within a diamond. As in a prism light entering a diamond is divided up into the spectrum. The better quality diamond with better proportions the better the 'fire' of the diamond. This is called "refraction" or "dispersion" in the diamond trade. Fluorescence A glow, usually of a bluish color, which emanates from certain diamonds when exposed to ultraviolet light. Two thirds of all diamonds fluoresce to some degree but how they do so depends very much on the type of ultra violet light they are under. Girdle this is the narrow band around the outer circumference of a diamond. This is where a jewelry setting holds the diamond in a ring. Good Cut Diamonds cut with acceptable, but not perfect, 14

15 proportions. They generally have very good brilliance and fire and make excellent jewelry. altered rock, undecomposed kimberlite, which miners call "blue ground. Ice A colloquial word for diamonds, much favored by Hollywood in movies about gangsters. Ideal Cut Ideal Cut diamonds are usually more expensive than all other cut grades. This is due to three major factors: 1) extra time and skill are required to cut to such precision; 2) they are in great demand, and perhaps most importantly, 3) more of the original rough diamond must be sacrificed to achieve ideal proportions. Ideal Cut diamonds are also round diamonds that are perfectly proportioned (having depth percentages and table percentages that some people feel produce a "perfect" balance of fire and brilliance). They almost always have the highest grades on polish and symmetry as well, indicating the great care taken in the overall fashioning of the stone. These diamonds have had the finest craftsmanship to maximize the beauty of the diamond. Inclusion An impurity within a diamond, such as a spot or irregularity in the crystal structure of the stone. These can include a cloud, a fracture, another diamond inside the bigger one, liquid, etc. Inclusions can either be visible with the naked eye (usually SI-3 clarity and below) or visible only under magnification. Fewer inclusions means a finer clarity grade, increased rarity, and increased value. Kimberlite Kimberlite is a mica peridotite and a source of rich deposits of diamonds. The deposits occurring at Kimberley, South Africa were the first recognized and the source of the name. The Kimberly diamonds were originally found in decomposed kimberlite which was colored yellow by limonite, and so was called "yellow ground." Deeper workings encountered less Loupe A loupe is a small magnifying glass used to view gemstones. Usually 10x, or ten-power, magnification. The FTC requires all diamond grading be done under 10-power magnification; any flaws not detected under this magnification are considered to be non-existent by some dealers. Make Make describes the quality of the finish and proportions of a diamond. A good make will have proportions that maximize brilliance and fire. A poor make will decrease sparkle and fire due to the loss of light as it travels through the stone. The cutter is responsible for the make of a diamond as he is the one that cuts it to achieve the maximum brilliance and fire. Mohs Scale The Mohs scale is a table of relative hardness that ranks a mineral's strength and durability on a scale from 1 to 10, with 1 being talc and 10 being diamond. Developed over 100 years ago by Frederic Mohs. Moissanite Moissanite is silicon carbide and is manufactured in a laboratory. It is virtually indistinguishable from diamonds and it takes a real expert with special equipment to be able to tell the difference. Pavilion This is the bottom half of a diamond, from the lower girdle to the culet tip at the bottom. The pavilion should be neither too deep or too shallow otherwise light will leak out and the diamond will lose fire and brilliance. Peridotite Any of a group of igneous rocks having a granite like texture. 15

16 Point A measure of diamond weight. One point equals 1/100th of a carat. A diamond that weighs 0.50 carat is said to weigh 50 points. Polish A grade given to the external finish of a stone. The polish grades are from poor to excellent. Good polish is crucial for maximum brilliance of a diamond, but it takes a trained eye to distinguish between polish grades. Poor Cut Poorly cut diamonds with proportions and finish that make them look relatively lifeless to the eye. Such stones are ok for industry but not for jewelry. Sparkle The 'sparkle' of a diamond is the combination of fire and brilliance. The light that reflects out of a diamond as it moves. Sometimes called "scintillation" by older dealers. Stones A word for diamonds and other precious gems. Symmetry A diamond should by symmetrical. Symmetry is the grade used to describe the uniformity of the cut of the diamond. This can range from excellent down to poor. The un-symmetrical a diamond is the poorer will be the quality of light through the stone. Table The top or large flat face of the diamond is called the table. It should be in proportion to the rest of the diamond to gain the best fire and brilliance. Tourngat Diamonds cut to fit very strict requirements for depth percentage and table percentage. These outstanding proportions maximize fire and brilliance in the diamond. Also a region of northern Quebec. Weight the weight of a diamond is measured in carats.a carat is.2 grams. A gram of diamond would be a massive 5 carats. Very large in diamond terms although the actual diamond is physically small. Wholesale Wholesale prices are listed PER CARAT to show this price difference. For instance, a 1/2- carat round brilliant diamond of G/VS2 quality may sell for $3,600 per carat ($1,800 for the stone), whereas a 1-carat stone of the same quality would likely cost $6,300 per carat ($6,300 for the stone) because it is twice the size and more rare. Zirconia Also known as Cubic Zirconia, this is a substance often used as a substitute to genuine diamonds. It is a carborundum substance and easily told from diamonds due to being heavier than diamonds. ~oo00oo~ 16