The Kwiat Blog

Always A Buyer For Rare & Brilliant!

Some truly spectacular diamonds have been showing up at the auction houses lately. Once again proving that even in troubling economic times, there will always be a buyer for these rare gems.  And even though most of us do not have the amount of capital it takes to own a diamond of this scale, we admire the brilliance and beauty accomplished by nature’s extreme conditions and then cultivated by mankind’s hand. ...and a girl can always dream, right? 

April 7, 2010 – Sotheby’s Hong Kong auctioned a rare and flawless blue 5.16 carat diamond that was sold for $6.4m. The gemstone, originally from the Da Beers Millennium Collection, is one of 12 in a collection that took decades to put together.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

April 11, 2010 – Sotheby's showed off an extremely rare 52.82 carat white diamond at the auction house in London. The diamond, which has received a first class grading from the GIA whose report states that the stone is Type IIa, is D-colour and has flawless clarity, is to be auctioned in the Magnificent Jewels and Noble Jewels sale in Geneva, Switzerland on May 11 with an estimated price of more than US$7 millions (4.53 million pounds or 5.14 million euro). Sotheby’s also showed off a rare 5.02 carat blue diamond that will be auctioned in the Geneva sale. Estimated price? Between $4m and $7m.

via The Economic Times, Rueters 

 

Sotheby's Australia is Seeing Red... Diamonds that is!

Fancy purplish-red is the official color grade of the 0.82-carat diamond that is slated to be the first red diamond ever offered for public auction in Australia. The April 12th auction is also the first standalone jewelry sale for Sotheby's Australia branch.

The 0.82-carat, fancy purplish-red Argyle diamond is set into a ring and is flanked by a pair of fancy blue diamonds in a round brilliant-cut diamond surround, all mounted in platinum. Its value is estimated at between 700,000 and 1 million Australian dollars (between about $645,065 and $921,556) and will be accompanied by a letter from Argyle Diamonds attesting to its rarity. The Argyle diamond deposits have produced many notable pink diamonds but less than a handful of red diamonds have been discovered. Connoisseurs have long considered red diamonds to be among the most precious and rare of diamonds.

via National Jeweler

 

Fluorescence in Diamonds: A Misunderstood Characteristic

In diamonds, fluorescence is an attribute that is observed when the diamond exposed to invisible ultraviolet (UV) rays.  Under normal lighting conditions, a diamond's fluorescence is not detectable to the eye.  However, if a diamond is naturally fluorescent, it will emit a soft colored glow when viewed in ultraviolet light.  This glow will last as long as the diamond is exposed to the UV light.  Fluorescence is not dangerous to the diamond or the wearer, nor does it compromise the structural integrity of the diamond.  It is simply a fascinating quality that occurs naturally in some diamonds.

On a GIA diamond grading report, fluorescence refers to the strength or intensity of the diamond's reaction to the UV light.  The GIA scale uses the following grades: None, Faint, Medium, Strong, Very Strong. Beginning with the grade of Medium, the fluorescence grade will also include the color, e.g., "Medium Blue".  The most common color of fluorescence is blue, but other colors are possible depending on the trace elements within the diamond's crystal structure. 

Does Fluorescence Matter?

The first and most important thing to remember is that fluorescence is almost always an invisible property of the diamond.  In the vast majority of situations, fluorescence has no impact at all on the visual beauty of a diamond.  But for the grade on the diamond's certificate, the typical diamond wearer will never see the fluorescence of their diamond in the course of a lifetime.  This is true of diamonds with a grade of Faint or Medium fluorescence.  In fact, diamonds in the near colorless and faint yellow ranges that exhibit some fluorescence will actually face up whiter than stones of equal color without fluorescence.

The GIA has done extensive research on diamond fluorescence and has confirmed these facts.  In 1997, they published an article on the topic, which can be found here.  Beginning in 2009, GIA began including explanatory information on fluorescence with the GIA report, a copy of which can be viewed here.

In extreme cases of fluorescence - typically graded Strong or Very Strong - the diamond may appear to have an oily or milky appearance.  To a casual observer, it may appear that the diamond is dirty or cloudy.  These diamonds should be avoided because the presence of this extreme fluorescence detracts from the beauty of the stone.

So why then do some recommend avoiding any type of fluorescence?  The simple answer to that question is laziness.  It is easier to tell a customer that "fluorescence is bad and you should avoid it" than it is to actually educate them on the facts.  The bottom line on fluorescence is that in the Faint and Medium Blue ranges, it is not a characteristic that should cause great concern to you as a buyer.

Advice on Selecting the Cut of a Diamond

Of all the tradeoffs and choices made in the selection of a diamond, the cut is the one thing that should never be compromised.  The cut is the single most important element in determining how brilliant and beautiful the diamond is, and to sacrifice on the quality of the cut is to sacrifice the core beauty of the diamond.

To meet this standard, a round diamond must have an Excellent cut grade.  At Kwiat, we have a stricter set of parameters that we apply, and so only a portion of the GIA's Excellent cut grade diamonds will be worthy of the Kwiat tiara logo.  These parameters allow us to cut and identify the most brilliant of the round diamonds that have the largest size appearance.

The quality of the cut is equally as important in fancy shapes, although there is no cut grade on the GIA certificate to guide you.  When looking at fancy shapes, it is critically important to have the help of a experienced and trusted advisor who can help you understand the different elements of the cut that make a diamond beautiful.

Diamond Cut: The Most Important of the Diamond 4Cs

First, I need to address a popular misconception.  Diamond "cut" is different from diamond "shape."  The shape of a diamond describes its outline and some general attributes about the cut of the stone.  The different shapes include round, oval, cushion, emerald cut, asscher cut, radiant, pear and heart shape.

Diamond cut is more technical and is about the angles, proportions and facets of the diamond itself.  And without question, it is the most important of the 4Cs because the quality of the cut determines how brilliant, beautiful and valuable the diamond is.  Cut is the only aspect of the diamond that is determined by the skill and artistry of the craftsman's hand.  When a diamond cutter examines a rough diamond, he must make many choices about how to best cut the stone.  The result of those choices is a finished stone, or "polished diamond."   If done properly, that diamond will have exceptional brilliance, beauty and fire and will show its full size appearance.

At Kwiat, we are uncompromising about the quality of the cut of our diamonds.  Adhering to the highest standards for diamond cut is the bedrock principal on which Sam Kwiat founded the company, and for 100 years it has remained at the core of everything we do and every piece of jewelry that we create.

The Cut Scale & How Diamond Cut Is Graded

The GIA grades the cut of round diamonds on a scale that includes the following grades: Excellent, Very Good, Good, Fair and Poor.  This grading system is based on more than a decade of the GIA's research into the light performance of diamonds.  When examining a round diamond, the GIA will take detailed measurements of the stone's angles and proportions.  Based on the combination of these elements, the GIA determines how brilliant the diamond is and assigns a cut grade.  Key measurements of the diamond including the depth percentage, the table percentage, the crown angle, the pavilion angle and the girdle thickness are also listed on the certificate.  Fancy shapes (i.e., all other shapes besides round) are not given cut grades by the GIA.

Advice on Selecting the Color of a Diamond

The first thing I always explain when talking about color is that the differences between any two consecutive grades is very subtle and is often indistinguishable to the untrained eye.  When looking at diamonds, you should not get overly focused on one specific color grade to the exclusion of grades near to it.

The second thing to remember is that the environment in which a diamond is graded is quite different from the one in which it is worn.  A diamond is graded face down but it is worn face up, where the brilliance of the cut and the white light reflected back to the eye will mask some of the color in the body of the stone.  The stone will be mounted in a metal setting, for engagement rings most often platinum.  The white color of the platinum will usually enhance the whiteness of the stone.  Finally, typical sunlight or a normal indoor lighting environment is far less harsh than the whiteness of the grading lamp making color more difficult to distinguish.

There are also important differences in the way different shaped diamonds show their color.  The brilliance of the faceting pattern of a round stone makes color quite difficult to distinguish.  Color in round diamonds is not typically apparent to the eye until the KL range.  Other shapes - in particular radiants and cushion shapes - may start to show a yellow tint at grades slightly higher than that, for example in the IJ range.  It is important to note that every diamond is unique and must be viewed in person to determine whether it shows any color or not.

With those thoughts in mind, color is an important determinant in the beauty of the diamond.  The higher the color, the whiter the diamond will appear.  In my experience, people often appreciate stones of higher color without necessarily understanding what exactly it is they are attracted to.  I've heard people describe diamonds of higher color as looking "clearer" or "crisper."  All things being equal, I do tend to favor moving up in color when the budget allows.  At Kwiat, we work with round brilliant diamonds across the color grade range of D to J and fancy shape diamonds from D to I.

The 4 Cs of Diamonds: An Introduction to Color

Diamonds may contain small traces of color within the crystal structure of the diamond, most often tints of yellow.  The less tint of color that a diamond exhibits, the more rare and more valuable it is.  Color can be difficult to see with the untrained eye and the differences between grades that are one or two steps apart are very subtle.

The Color Scale & How is Color Graded

The scale used to measure color was originally developed by the GIA and uses the alphabet beginning with the letter D and continuing to Z.  A grade of "D" is the highest that a diamond can get and means that the diamond shows no trace of color at all.  The grades of D, E, and F are called the "colorless range" and the grades of G, H, I, and J are called the "near colorless" range.  Diamonds with attractive yellow color - called fancy yellow diamonds - have grades that are beyond the grade of "Z."

Diamond color is graded with the diamonds face down against a white background under a daylight fluorescent lamp.  This allows the grader to most accurately see the body color of the diamond.  Color is graded by comparison, so the diamond is compared against a set of "master stones" to determine where on the scale it falls and what grade it should receive.

Advice on Selecting the Clarity of a Diamond

When considering the clarity of a diamond, I always begin with the advice that you do not want to have any inclusions that are easily visible to the naked eye.  In practice, all flawless, VVS and VS diamonds will be "clean" to the naked eye. Most SI1 round diamonds and some SI2 round diamonds will as well.  Using this as a starting point, you can decide how high on the scale you wish to be, understanding that it will cost more to move up to increasingly better grades.  In my view, the best tradeoff for clarity versus the other factors of size, color and budget occurs in the range between VS1 - SI2.  If the purity of the crystal structure is of exceptional importance to you, you should consider diamonds in the IF or VVS range.  Otherwise, you will get a bit more for your money in the VS or SI range.

It is also important to note that emerald cut and asscher cut diamonds will more readily show any inclusions because of their step cut faceting pattern.  The step cut faceting pattern results in a more window-like appearance of the diamond and allows you to see into the heart of the stone.  As a result, any inclusions that are present may be more apparent to the eye.  As a general rule, step cut diamonds should have a grade of VS2 or better, with the exception of the occasional SI1 stone that is otherwise clean to the naked eye.

The 4Cs of Diamonds: An Introduction to Clarity

The clarity of a diamond refers to the presence of "inclusions," or imperfections, in its crystal structure.  Nearly all of the world's diamonds have inclusions of some kind, and the clarity scale is used to denote the degree to which those inclusions are present and visible within the diamond.  In higher quality diamonds, the inclusions are not visible to the naked eye and in lower quality stones they will be easily spotted without any magnification.

The Clarity Scale & How Diamond Clarity Is Graded

Diamond clarity is graded by a skilled professional under 10x magnification and uses a scale originally developed by the GIA.  The specific characteristics of any inclusions present are considered when assigning a clarity grade, including the size, location and type of inclusion.  The clarity scale begins with the grade of "Flawless" or "Internally Flawless," and continues using the following grades:

Flawless & Internally Flawless ("IF") - The diamond shows no inclusions when examined under 10x magnification.

VVS1 & VVS2 - "Very Very Slightly Included" - The diamond contains microscopic inclusions that are very difficult for a skilled grader to see under 10x magnification.  These inclusions are never visible to the naked eye 

VS1 & VS2 - "Very Slightly Included" - The diamond contains minor inclusions that are visible to a skilled grader under 10x magnification.  These inclusions are not visible to the naked eye.

SI1 & SI2 - "Slightly Included" - The diamond contains inclusions that are easily visible under 10x magnification.  The inclusions in SI1 diamonds are often not visible to the naked eye.  The inclusions in SI2 diamonds are sometimes not visible to the naked eye.

I1, I2, I3 and beyond - The diamond contains inclusions that are obvious under 10x magnification and easily visible to the naked eye.

Diamond Carat Weight: Why It's NOT the Same As Size

Of the 4Cs of diamonds, carat weight is the most objective and the easiest to understand. Quite simply, it refers to the weight of the diamond as measured in carats, the scale used for gemstones. The greater the carat weight of the diamond, the more rare it is and usually the bigger it is.

But size in diamonds is first and foremost about the visual size appearance and not only about carat weight. To be sure, a 2 carat stone will have a larger visual size appearance than a 1 carat stone and a 5 carat diamond will look bigger than a 3 carat. Certainly carat weight and size are closely related. But when comparing stones that are closer in carat weight, you will find that sometimes the stone with the smaller weight will have a bigger look. The key is in looking at the millimeter dimensions.

As beauty in diamonds always does, it all comes back to the quality of the cut. A well-cut diamond will not only be brilliant and bright, but it will have a larger size appearance than other lesser-cut stones of the same weight. When properly cut, a diamond will not be too deep and will not have too much weight in the girdle or other areas of the stone that add to the carat weight on the scale but not at all to the visual size appearance. At Kwiat, we refer to this as "the weight being in the right place." A beautifully cut 2 carat stone will look larger than a poorly cut 2.5 carat diamond because in the poorly cut stone, the weight is in the wrong places where you can't actually see it. When looking at diamonds, pay close attention to the millimeter dimensions as well as the carat weights, and don't assume that a higher weight automatically means a bigger look. Greater carat weight is only worth paying for when it adds to the beauty and visual size appearance of the stone.