The Winter 2014 G&G
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WINTER 2014 VOLUME L THE UARTERLY JOURNAL OF THE GEMOLOGICAL INSTITUTE OF AMERICA Rough Diamond Auctions and Their Market Impact Thirty Years of Argyle Pink Diamond Tenders Study of the Blue Moon Diamond Winter 2014 VOLUME 50, No. 4 EDITORIAL 251 A Fitting Conclusion to Our 80th Anniversary Duncan Pay FEATURE ARTICLES 252 Rough Diamond Auctions: Sweeping Changes in Pricing and Distribution Russell Shor pg. 253 Examines the growing percentage of rough diamonds being sold through auctions, a shift that has caused price volatility while opening up supply to more manufacturers and dealers. 268 Exceptional Pink to Red Diamonds: A Celebration of the 30th Argyle Diamond Tender John King, James E. Shigley, and Claudia Jannucci Describes the extremely rare polished pink diamonds from Australia’s Argyle mine that have been sold for 30 years through invitation-only tenders. pg. 273 NOTES AND NEW TECHNIQUES 280 Study of the Blue Moon Diamond Eloïse Gaillou, Jeffrey E. Post, Keal S. Byrne, and James E. Butler Presents spectroscopic and phosphorescence data of the Blue Moon, a 12.03 ct Fancy Vivid blue diamond discovered at the historic Cullinan mine in early 2014. 287 A Preliminary Study on the Separation of Natural and Synthetic Emeralds Using Vibrational Spectroscopy Le Thi-Thu Huong, Wolfgang Hofmeister, Tobias Häger, Stefanos Karampelas, and Nguyen Duc-Trung Kien pg. 281 Reports preliminary findings—based on FTIR and Raman spectrometry of more than 300 samples—on distinguishing natural and synthetic emeralds using vibrational spectroscopy. REGULAR FEATURES 293 Lab Notes Colorless type IaB diamond with silicon-vacancy defect center • Screening of yellow diamond melee • Very large irradiated yellow diamond • Natural pearl aggregates from Pteria mollusks • Lead-glass-filled Burmese rubies • Spinel pg. 296 inclusion in spinel • CVD synthetic diamond with Fancy Vivid orange color • Mixed-type HPHT synthetic diamond with unusual growth features • Larger, higher-quality NPD synthetic diamond 302 Gem News International Demantoid from Baluchistan province of Pakistan • New deposit of Ethiopian black opal • First non-nacreous beaded cultured pearl • Beryl and topaz doublet • Coated lawsonite pseudomorphs presented as chromian lawsonite • Composite ruby rough • Dyed marble imitations of jadeite and sugilite • Synthetic spinel with unusual short-wave UV reaction • Online U.S. diamond sales • Record-breaking gem auctions • Margaritologia newsletter • Gemology session at GSA meeting 316 Letters Editorial Staff Editor-in-Chief Associate Editor Contributing Editors Duncan Pay Jennifer-Lynn Archuleta James E. Shigley gia.edu/gems-gemology [email protected] [email protected] Andy Lucas Donna Beaton Subscriptions Managing Editor Editorial Assistant Copies of the current issue may be purchased for Justin Hunter Brooke Goedert Editor-in-Chief Emeritus $29.95 plus shipping. Subscriptions are $79.99 for one [email protected] Alice S. Keller year (4 issues) in the U.S. and $99.99 elsewhere. Cana - Editors, Lab Notes dian subscribers should add GST. Discounts are avail - Editor Thomas M. Moses Customer Service able for group subscriptions, GIA alumni, and current Stuart D. Overlin Shane F. McClure Martha Erickson GIA students. To purchase print subscriptions, visit [email protected] (760) 603-4502 store.gia.edu or contact Customer Service. For insti - [email protected] tutional rates, contact Customer Service. Technical Editors Tao Z. 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Kampf Kenneth Scarratt tional photocopying techniques (Xerox, etc.) is Washington, DC Los Angeles, California Bangkok, Thailand prohibited without the express permission of the pho - Alan T. Collins Robert E. Kane Andy Shen tographer (where listed) or author of the article in London, UK Helena, Montana Wuhan, China which the photo appears (where no photographer is listed). For other copying, reprint, or republication per - John L. Emmett Stefanos Karampelas Guanghai Shi mission, please contact the Managing Editor. Brush Prairie, Washington Lucerne, Switzerland Beijing, China Gems & Gemology is published quarterly by the Emmanuel Fritsch Lore Kiefert James E. Shigley Gemological Institute of America, a nonprofit educa - Nantes, France Lucerne, Switzerland Carlsbad, California tional organization for the gem and jewelry industry. Eloïse Gaillou Ren Lu Elisabeth Strack Postmaster: Return undeliverable copies of Gems & Paris, France Wuhan, China Hamburg, Germany Gemology to GIA, The Robert Mouawad Campus, 5345 Armada Drive, Carlsbad, CA 92008. Gaston Giuliani Thomas M. Moses Wuyi Wang Our Canadian goods and service registration number Nancy, France New York, New York New York, New York is 126142892RT. Jaroslav Hyršl Mark Newton Christopher M. Welbourn Any opinions expressed in signed articles are under - Prague, Czech Republic Coventry, UK Reading, UK stood to be opinions of the authors and not of the A.J.A. (Bram) Janse Nathan Renfro publisher. Perth, Australia Carlsbad, California About the Cover As rough diamond production and sales have transitioned from one company to a host of players in recent years, auction sales have become increasingly prevalent. The lead article in this issue examines the effect of these rough diamond auctions on the global market. The photo on the cover shows diamonds from the Kao mine in Lesotho being prepared for tender. The 17.88 ct yellow diamond in tweezers is set against a background of colorless octahe - dra totaling 34.11 carats. Courtesy of Fusion Alternatives, Antwerp. Photo by Robert Weldon/GIA. Printing is by L+L Printers, Carlsbad, CA. GIA World Headquarters The Robert Mouawad Campus 5345 Armada Drive Carlsbad, CA 92008 USA © 2014 Gemological Institute of America All rights reserved. ISSN 0016-626X A Fitting Conclusion to Our 80th Anniversary Welcome to the final issue of G&G ’s 80th anniversary! Topics we’ve covered thus far include the Chinese and Sri Lankan gem and jewelry industries, beneficiation through Botswana’s diamond industry, three-phase inclusions in emerald, HPHT synthetic diamonds, Myanmar’s remarkable “Jedi” spinel, and pleochroism in colored gems. In this Winter 2014 issue, three of our four articles focus on aspects of diamond. I was privileged to see the subject of one these papers up close: the Blue Moon diamond, prior to its exhibition at the Natural History Museum of Los Angeles County. This “Our lead article discusses the sweeping spectacular gem was recovered from the changes brought to rough diamond pricing Cullinan mine—formerly a De Beers and supply through the adoption of tenders operation—in early 2014. As such, it’s a piece of the story told in our first two articles, which respec - and live auctions.” tively survey recent changes in rough diamond distribution with the growth of the auction system and review the Argyle mine’s exclusive pink diamond tenders, held annually since 1985. Our lead article, by GIA senior industry analyst Russell Shor, discusses the sweeping changes brought to rough diamond pricing and supply through the adoption of tenders and live auctions by leading producers. He explains that current opinion is divided: Some advocate auctions as a more accurate reflection of rough diamond market values, while others fear they encourage volatility of prices and speculation. Our second paper, by the GIA laboratory’s John King, Dr. Jim Shigley, and Claudia Jannucci, is a very timely one. The fall of 2014 marked the 30th edition of Argyle’s pink diamond tenders, the invitation-only auctions of the mine’s most prized gems. This paper offers an insightful review of each auction to date. Over the years, GIA has been in the fortunate position to grade these premium pink to red diamonds, and this article also presents a concise survey of