Fancy-coloured diamonds, along with their rarity and uniqueness have been sought-after over years with the skyrocketing prices. Given that Rio Tinto’s Argyle mine, one of the world’s largest fancy-coloured diamond mines, is going to exhaust, experts predict that the demand for these unique stones will continue to soar, with an investment rush throughout the market.
Alrosa, the world’s largest producer of diamonds in carats, announced its plan to expand business to the fancy-coloured polished diamond market in September 2018. The company chooses Hong Kong as the starting point to amaze the world with its fancy-coloured diamonds cut and polished in Russia.
Since the beginning of 2018, Alrosa’s diamond cutting division Diamonds Alrosa has been dedicated to creating the first collection of fancy-coloured polished diamonds. Yury Okoemov, deputy CEO of Alrosa told Hong Kong Jewellery: “Our experts have many years of experience and remain committed to the traditions of the classic ‘Russian Cut’ whilst complying with the highest standards of diamond cutting and polishing. They combine leading-edge technology with the secrets of the jewellers of the Russian imperial court. Fancy-coloured diamonds are now one of the company’s key focus areas.”
‘Russian Cut’ has been a synonym for the perfect round cut in the diamond industry. Alrosa’s collection of polished fancy-coloured diamonds inheriting the country’s diamond cutting heritage and techniques will be revealed for the first time during the September Hong Kong Jewellery & Gem Fair held from 12 to 18 in this September.
According to the company, diamonds from the collection have been categorised into 19 different colour groups. The choice of colours is broad enough to satisfy the most demanding customer, ranging from the ‘classic’ yellow to the rarer pink and even the remarkable saturated purple stones. One of the highlights during this showcase will be a stunning 11-carat deep purple fancy-coloured diamond, together with other entries in yellow, purple and pink tones in extraordinary quality.
“Our fancy-coloured diamonds will be displayed for the first time at the fair in Hong Kong, and subsequently, they are to be sold at auction in this autumn. The stones will all be GIA-certified, and clients will be provided with detailed descriptions and also a history of their creation,” stated Okoemov. “Besides certification, the information will be uploaded to a digital catalogue, which has been created especially to ensure transparency and easy accessibility of all the data for our customers.”
In addition, the company plans to launch a system for tracing the origin of its diamonds. “The system will allow customers to have access to all the information about a stone and be assured of its conflict-free history and authenticity,” Okoemov noted. For customers, buying the diamonds directly from the miner will also eliminate any third-party intermediaries from the supply chain, thus optimising the prices.
Last year, Alrosa successfully presented a unique collection of its polished diamonds The Dynasty collection, consisting of five diamonds produced from a single 179-carat rough which is well-known as ‘The Romanovs’. No doubt that the collection name was chosen as it recognises the desire of Alrosa to pay homage to Russia’s rich cultural heritage. The company has been reviving the traditions of famous Russian jewellers who have been acknowledged for their craftsmanship ever since the appearance of the first diamond cutting and polishing factory in Russia under Peter I in the early 18th century.
The Dynasty collection gave a start of the company to a new stage in the development of polished diamond business which is mainly focusing on extra-large and fancy-coloured diamonds. For fancy-coloured diamond business, the recovery and production are a long and complex process. Today, only a few dozen companies operate successfully in this market. Alrosa is well-positioned to dominate this segment, offering diamonds directly from the company with a guarantee of quality and strict compliance with ethical standards, said the company. Okoemov expects the production of Alrosa’s fancy-coloured rough diamonds to exceed 7,000 carats per year. (Photo courtesy: Alrosa)
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