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Gloria Fung

Green diamonds – exceedingly rare, and, at least for now, cheaper than other coloured diamonds – are beginning to catch on with Asian collectors and investors.
Since 2014, only 13 lots of green diamonds have made their way into Bonhams auctions – eight of which sold in Hong Kong.
Diamonds in the “fancy colour” family are priced according to the vividness and purity of their colour. A pure green diamond can sell for upwards of US$1 million per carat at auction. Or even more.

Chow Tai Fook Jewellery paid the most ever for a green diamond – US$16.8 million. That was the 5.03 carat, fancy vivid Aurora Green, which the Hong Kong jeweller bought at $3.3 million a carat at a Christie’s auction in May of 2016. The largest such diamond is the Dresden Green, a pear-shaped, 40.70 carat gemstone that is on display at the Albertinium Museum in Dresden, Germany.
Fake Hong Kong diamonds cost me US$200,000 – and my fiancée
“Green is one of the rarest diamonds,” said Paul Redmayne, head of jewellery sales at auctioneer Bonhams Hong Kong. “And if you look at it purely from an investment point of view, they’re very much undervalued.”


The stones have been discovered in mines including in Brazil, Guyana, Venezuela, Zimbabwe and the Central African Republic. They were created by being bombarded by naturally occurring radiation, such as uranium. Authentication is especially important with these gems because swindlers can fabricate a “green diamond” by applying radiation to a common white diamond. They can also be hard to price because so few have sold on the open market compared to their other coloured cousins.
“It’s one of the least understood diamonds,” said Redmayne. “Blues, reds and pinks get the coverage. But more collectors in Asia are now very at ease with the colour green.”

Due to their mystery and rarity, they are not favoured with collectors and investors – at least not yet. That may mean an early acquirer could at some point in the future be handsomely rewarded, several diamond experts said. But, for now, they might work better for collectors than for short-term investors because it can be harder to find a buyer than for other diamonds, said Hazel Choi, a Hong Kong gemologist and collector.
“In the long run, they will increase in value,” Choi said. “You’ll have to find the right buyer and that buyer will be someone who has a pretty comprehensive collection and has a lot of knowledge about gemstones.”
A pure green diamond has a range of colour intensities, stretching from faint green to fancy deep green. They also can have a secondary hue, such as yellow, blue or brown.
Pink, blue or green, these rare diamonds can fetch mega millions
These variations can dramatically affect pricing, as does their comparative unfamiliarity with collectors and investors.


In April, at the Sotheby’s spring auction in Hong Kong, a 1.97 carat fancy green diamond sold for US$596,279, the low end of its US$509,640 to US$700,755 estimate.
“I think this could be a sign that investors haven’t really caught on to green diamonds yet,” said Choi, adding that some green diamonds being offered may be bargains as investors warm up to them.
On October 3, Sotheby’s auctioned a “fancy vivid bluish” diamond weighing 1.38 carats for US$810,000, right between its estimated $710,000 to $920,000 price.
Andrew Coxon, president of the De Beers Institute of Diamonds, said recent auction prices reflect positively on the growth of green diamond prices in recent years. They are currently “200 times more expensive than a colourless diamond of similar size and quality,” he said.
Next month, Bonhams will auction off three lots of green diamonds, two of which it expects to hit the HK$1 million mark.
The buzz around green diamonds comes as many wealthy Chinese have been adding diamonds to their asset portfolios.
A report this year by diamond miner and trader De Beers Group found that 63 per cent of diamonds purchased in China are not meant for daily wear, suggesting collection. Chinese millennials are driving the market, which grew year-on-year by 3 per cent to US$66 billion last year, it said.


For every 10,000 white diamonds, there is only one coloured diamond. Only about 3 per cent of diamonds submitted to the Gemological Institute of America are coloured diamonds. Pink has been a favourite.
The pinks are nearly all from the Argyle Diamond Mine in a remote area of Western Australia. The mine is slated to close by 2020, which will likely boost the value of these gemstones, adding pressure on the attractiveness of green diamonds to collectors and investors.
Hong Kong jeweller paid record price for rare pink diamond as part of 88th anniversary celebrations
Pinks, too, have a history with Hong Kong. The largest, internally flawless, fancy vivid pink diamond is the CTF Pink, at 59.60 carats and previously known as the Pink Star, which sold to Chow Tai Fook Jewellery in April of last year at Sotheby’s in Hong Kong. It was the world’s most expensive gemstone auctioned, at $70.6 million.
Mystery diamond buyer revealed: Hong Kong billionaire Joseph Lau spends US$48m on ‘Blue Moon Diamond’ for seven-year-old daughter
Meanwhile, Hong Kong billionaire fugitive Joseph Lau paid US$48 million in November of 2015 for a fancy vivid blue diamond for his seven-year-old daughter Josephine. He named the 12.03 carat gemstone the “Blue Moon of Josephine.” He also bought a US$28.6 million, 16.08 carat pink diamond he named “Sweet Josephine,” and a US$9.5 million, 7.03 carat vivid blue gem that he called “Star of Josephine.”
For now, there is a bit of a gamble on green diamonds. But for those who make a smart play, experts say, they may end up with a winning investment.


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Investing

Will green diamonds become a China investor’s best friend?

‘If you look at it purely from an investment point of view, they’re very much undervalued,’ said Paul Redmayne, head of jewellery sales at auctioneer Bonhams Hong Kong.

Employees serve customers shopping for jewelry at a Chow Tai Fook Jewellery Group Ltd. store in Hong Kong, China, on Tuesday, Feb. 2, 2016. China's imports of gold from Hong Kong surged 67 percent to the highest level in more than two years in December as stock market turmoil and anticipation of a further weakening in the nation's currency spurred demand for a haven. Consumers were also buying in the run-up to Chinese New Year in February, the peak demand season. Photographer: Billy H.C. Kwok/Bloomberg ORG XMIT: 603153381

The Aurora Green was bought in 2016 by Chow Tai Fook Jewellery for US$16.8 million, which was the most ever paid for a green diamond.

Are diamonds an investor’s best friend?

Potential investors in diamonds should know about the 4Cs – carat, colour, clarity and cut. Photo: Reuters

An undated handout photo released by mining giant Rio Tinto on February 22, 2012 shows a 12.76 carat pink diamond -- the largest of the rare and precious stones ever found in Australia. Named the Argyle Pink Jubilee, the rough stone was found at Rio's pink diamond operations in the Kimberley region of western Australia and would take 10 days to cut and polish in Perth. --- EDITORS NOTE --- RESTRICTED TO EDITORIAL USE MANDATORY CREDIT NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS AFP PHOTO / HO / RIO TINTO

A vendor inspects 0.20 carat diamonds during the 3rd Antwerp Diamond Trade Fair in Antwerp January 31, 2012. Experts say a growing cadre of people, especially in North America, are thinking along the same lines. Rather than hanging on to memories of a failed relationship or departed relative, they are opting to "recycle" their diamonds. It's a trend that is sending ripples through the gem industry at a time when high-quality rough diamonds have become more difficult to find, and more expensive to mine. The growing influx of "used" gems means prices could stagnate over the long term despite the supply restraints, Even-Zohar said during a presentation at PDAC, the huge mining industry convention held last week in Toronto. To match Feature MINING-DIAMONDS/ REUTERS/Francois Lenoir (BELGIUM - Tags: BUSINESS SOCIETY COMMODITIES)

Coloured diamonds are rare, but you don’t need to be a billionaire to buy them in Hong Kong

De Beers’ fancy coloured diamonds can be a delight to own.

The 31.32 carat oval-cut chameleon diamond is the largest documented stone in this category. Its exceptional colour and clarity, combined with the dispersion (fire) inherent to diamonds, gives Chopard’s Chameleon Diamond a unique identity in the world of gemstones.

"1932" Collection, 80th anniversary of "Bijoux de Diamants" collection by Gabrielle Chanel Description_ Nuit de Diamants hoops in 18K white gold, set with white and black diamonds. Obligatory Mentions CHANEL Fine Jewelry Terms of use Cropping and modification forbidden Rights deadline May 14, 2037

***FOR THE MOMENT 2016 ONLY*** The Psyche ring from Cartier's Magicien collection features a very light brown 8.66ct hexagonal diamond.

Like fancy blue diamonds, it is the presence of boron that forms a grey diamond. These relatively unknown treasures are considered alongside red and orange diamonds as the most coveted colours. Grey diamonds often house hints of blue at their centres and have come to represent wisdom and security. Photo by De Beers

"1932" Collection, 80th anniversary of "Bijoux de Diamants" collection by Gabrielle Chanel Description_ “Nuit de Diamants” ring LG in 18-karat white gold set with a 1.5-carat round-cut diamond, 28 brilliant-cut diamonds for a total weight of 1 carat, 25 facetted black-diamond beads for a total weight of 3.8 carats and 11 brilliant-cut black diamonds. Obligatory Mentions CHANEL Fine Jewelry Terms of use Cropping and modification forbidden Rights deadline May 14, 2037

Coloured diamonds gain popularity as they fetch high prices at auctions

Diamonds from the Argyle mine in Western Australia are coloured by a rare geology, mining experts say.

Pink green diamond flower ring by FORMS, a Hong Kong based jeweller founded by Tzvika Janover and Elad Assor with the knowledge and experience succeeded from their renowned centurial diamond cutter families.

GRAFF multishape diamond necklace featuring a 53.94 carat emerald cut yellow diamond, total diamonds 130.62 carats

Écume Necklace from the Résonances de Cartier collection, which stands out with three striking Fancy Yellow briolette-cut diamonds totalling 74.24 carats, complimented by natural pearls, oval- shaped diamonds, rose-cut and brilliant-cut diamonds, all set in platinum.

Chanel Fine Jewelry’s latest “L’Esprit Du Lion’ collection has a transformable “Legendary” necklace set with more than 1200 diamonds, but the one that stands out the most is the 1 cushion-cut fancy intense yellow diamond of 30.19 carats.

GRAFF diamond dragonfly brooch set with a 2.55 carat Fancy Vivid Yellow oval diamond, total diamonds 76.90 carats

De Beers fights lab-grown diamonds with technology as China’s synthetic gems threaten viability of their market

The arrival of lab-grown diamonds has challenged the widely-held assumption that diamond prices could only go up

Posties, 25 July 2012. News column_Stock Photo: Some diamond on a table Image ID: 33386443__(one time use only)

Shutterstock 299702750.jpg This shutterstock image show close-up of person looking at diamond with magnifying loupe. [FEATURES] Photo / SHUTTERSTOCK

Jonathan Kendall, president of De Beers’ International Institute of Diamond Grading and Research, leads a team of researchers in London in the fight against synthetic diamonds being sold as real ones. Photo: K. Y. Cheng

Diamonds may be forever, but they are not an investor’s best friend

Some insist the industry downturn is cyclical and it will rebound by the end of the decade, but there is evidence the slide may be structural and long term

TO GO WITH AFP STORY (FILES) A model holds a 12.03-carat blue diamond during a press preview by auction house Sotheby's in Geneva on November 4, 2015. A 12.03-carat blue diamond could fetch a record $55 million (47 million Euros) when it goes under the hammer by Sotheby's on November 11 in Geneva. Categorised as a fancy vivid blue diamond, the Blue Moon, discovered in South Africa in January last year, is the largest cushion-shaped stone in that category to ever appear at auction. AFP PHOTO / FABRICE COFFRINI

A woman admires this 8.8 carat diamond ring on display at the Tiffany exhibition in Central, Hong Kong, earlier this month. Photo: May Tse

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‘If you look at it purely from an investment point of view, they’re very much undervalued,’ said Paul Redmayne, head of jewellery sales at auctioneer Bonhams Hong Kong.


‘If you look at it purely from an investment point of view, they’re very much undervalued,’ said Paul Redmayne, head of jewellery sales at auctioneer Bonhams Hong Kong


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