Scientists have known about the presence of diamonds in space since the 1980s when meteorites hitting Earth were revealed to contain lots of nanometer sized diamonds. Based on these studies, calculations have shown that a gram of space dust from a cosmic cloud might contain as many as 10,000 trillion nano-diamonds. These have only recently been identified because their infrared signature has only recently been identifiable using computer modeling and Spitzer’s infrared spectrometer.
These space diamonds are formed very differently that our Earth bound diamonds. On Earth, stones that are destined for engagement rings and wedding rings are formed under high heat and high pressure. In space, these nano-diamonds are found in molecular clouds where temperatures are below minus 400 degrees Fahrenheit and pressures are billions of times lower than on Earth.
Understanding how these nano-diamonds form may lead us to understand more about the formation carbon-rich molecules, the basic building blocks of life on Earth.
Posted by DiamondIdeals - Specializing in Engagement Rings
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London—Platinum's price reached a record high for the second day in London, trading above $2,000 an ounce, reports Bloomberg News.
Platinum for immediate delivery in London gained as much as $50, or 2.5 percent, to $2,027.50 an ounce, according to the news source.
The escalated price is due to power cuts in South Africa, which accounts for almost 80 percent of global platinum output.
The world's second-largest platinum producer, Impala Platinum Holdings Ltd., forecasted a drop in its platinum output due to the power shortages, which could be as much as 40,000 ounces of production, roughly equal to more than two days of global supply.
South Africa's state-run utility Eskom Holdings Ltd. told Bloomberg News it will retain limits on power supply to users such as mines and smelters to 90 percent of normal needs until 2012.
In related news, gold for immediate delivery in London increased 0.2 percent to $908.68 an ounce, according to the news source. The metal's price reached a record high on Feb. 1 at $936.92.
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Rhodium is mined primarily in South Africa and Russia. It is traded on a daily basis and the current price of over $7,000.00/oz makes gold and platinum look inexpensive. At this price, it is no wonder it is used only in very small amounts. Rhodium plating of jewelry results in an extremely thin layer of rhodium, measured in microns.
Gold is a yellow metal. When it is alloyed (mixed) with other whiter metals such as silver, nickel or palladium, it takes on a whiter look. This whiter version of gold, known as white gold is not entirely white. In fact, white gold is a very pale shade of yellow. In order to give white gold jewelry the incredible white shiny look sought after by consumers in a jewelry store, every piece of 14 or 18 Karat white gold jewelry is plated with rhodium and polished to a high shiny finish.
As durable as rhodium is, when it is applied in such a microscopically thin layer, it will wear off. Many people look at their engagement rings after they have worn them for a few months and notice that their diamond ring is yellowing around the edges. One of the surprisingly popular searches done on the web today is by people looking to find out how to clean white gold. The truth is white gold cannot be cleaned. Or more precisely, white gold cannot be whitened by cleaning. Any cleaning will loosen and removed trapped dirt under the diamond, but will not clean the gold. The only solution is to bring the ring back to a professional jeweler and ask them to re-plate the ring with rhodium. This is a common process and can be done in a few hours at little cost. After re-rhodium plating, the jeweler will polish the ring to a high shine and voilà, the ring will look like new.
Unfortunately most jewelers will not disclose this aspect of buying white gold jewelry. The alternative white metal which does not need rhodium plating is platinum. Platinum does cost more that gold, but when you consider the lifetime of maintenance required by white gold, the price of platinum may not be beyond consideration.
Posted by DiamondIdeals - Specializing in Engagement Rings
As far as steering your friends toward buying platinum engagement rings, that is a personal choice. Unfortunatly platinum prices are going through the roof these days. You have to ask yourself if you feel comfortable recommending they spend more money. Over the long haul, platinum will require less maintenance than white gold, but most people don't always consider the longer term implications.
If you have any further questions, please feel free to contact us through http://www.diamondideals.com
George
George
www.diamondideals.com
The tour, "Getting Engaged? Tips on Buying that Special Ring," covered how to overcome typical proposal blunders and how to read diamond-grading reports.
Hosted by AGS Laboratories President and Chief Executive Officer Frank Dallahan, the program reached an estimated 3.5 million listeners via nationally syndicated programs such as USA Radio National and Good News Broadcast National, and in locals markets including Atlanta; Chicago; Denver; Detroit; Kansas City, Kan.; Minneapolis; Orlando, Fla.; Raleigh, N.C.; Roanoke, Va.; and Tampa, Fla.
"The tour was an overwhelming success and a terrific opportunity to share the AGS Laboratories message with consumers," Dallahan said. "Many of the interviewers were intrigued by the diamond-grading process, so much so that the average interview lasted nearly 10 minutes, which just goes to show that even with all the information available to consumers today, there is still a thirst for quality information from reputable sources."
The media-tour interviews are now available online at AGSLab.com/news_radio.html
The AGS Laboratories was created in 1996 and provides unbiased diamond-grading reports. It is the only diamond-grading lab licensed to use the AGS Performance-Based Cut Grade System—the first-ever cut grading system for a fancy-shaped diamond. The lab currently issues a cut grade for round brilliant, princess- and emerald-cut diamonds. Cut grades for other shapes are due in the near future.
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Diamond Ideals tries to maintain costs as low as possible in order to make superb jewelry affordable. Unfortunately there are some forces that are impossible to contain. We maintained our prices on engagement rings and wedding bands as long as possible, but finally had to relent. Even with this small price change, Diamond Ideals still creates extraordinary engagement and wedding rings at highly competitive prices.
Posted by DiamondIdeals - Specializing in Engagement Rings
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Diamonds may be forever. But the price you paid for them may not.
Millions of American consumers who bought diamond engagement rings or other diamond jewelry could be in for a sizable rebate thanks to the pending settlement of a series of class-action lawsuits that accused the giant De Beers diamond company of price-fixing and monopoly practices.
Translation: You got bling? Ka-ching!
Now, there are a few "inclusions," as they say in the diamond business. You must have purchased the diamond between 1994 and early 2006. You need a receipt or other proof of purchase price. And the amount of the rebate you ultimately receive depends on factors such as the value of your diamond and the total number of consumers who end up filing claims under the settlement. So don't show this story to your friends.
But at the end of the day, you could get refunded 30 percent or more of the price you paid for your sparkling engagement rings.
Love truly is a many-splendored thing.
"This is nothing but good news for consumers," said Peggy Jo Donahue, director of public affairs for Jewelers of America, a retailers association. "We know consumers love giving and receiving diamonds, and now those who have made diamond purchases in the past may have some money coming back to them."
Notices of the proposed class-action settlement, which must still be approved by a federal judge in New Jersey in April, began appearing in national newspapers and magazines this month. Diamond buyers have until May 19 to file a claim by going tohttp://www.diamondsclassaction.com .
Under the settlement's terms, De Beers, the South African mining conglomerate that controls 40 percent of the world's diamond trade, has agreed to pay $295 million, which would be divided roughly in half between consumers and diamond merchants and resellers.
It doesn't matter whether your diamond came from a De Beers mine in Namibia or a competitor in Russia or Canada -- in fact, no one but a forensic scientist could even begin to try to figure out a diamond's source.
The proposed settlement covers all diamonds, whether purchased at a jewelry store in Beverly in Chicago or Beverly Hills in Los Angeles. That's because the class-action lawsuits alleged that De Beers, from its dominant position atop the world diamond market, conspired to fix, raise and control the prices of all diamonds -- something many purchasers of the pricey carbon allotropes have long suspected.
De Beers officials are quick to point out that they are admitting no wrongdoing in agreeing to the proposed settlement, which is equivalent to roughly six months of the company's earnings.
"Look, I'm not naive," said David Prager, De Beers director of communications in London. "I'm fully aware of the perception that a lot of people have" that De Beers controls the price of diamonds. "But the facts are that it's a very competitive industry.
"The confidence consumers have in their diamonds is the most important thing for us," Prager added. "We haven't accepted the allegations, but we decided to take this step to make sure that consumers still have confidence in the value of their diamonds."
Translation: Just because you might be due a rebate on your diamond doesn't mean you paid too much for it.
The settlement formula sets up a scale for determining the highest potential rebate a consumer could receive. For example, diamond jewelry that cost $1,000 to $5,499 would be eligible for a maximum rebate of 32 percent of the purchase price, with higher percentages for more costly diamonds and lower percentages for less expensive stones. On a $2,000 ring, that means you could get back a check for $640.
But don't start dreaming about using your rebate to buy a new wide-screen TV -- or another diamond -- just yet. These carats come with a caveat: The more people who apply for a rebate, the less each individual will receive.
That's because the consumer portion of the De Beers payout is capped at $135 million, minus up to 25 percent in fees due to the many law firms that brought the multiple class-action suits between 2001 and 2004.
The figure looks even smaller when compared to the total value of the diamonds sold in the U.S. during the 12-year period covered by the settlement: about $294 billion, according to Ken Gassman, a leading diamond industry analyst in Richmond, Va.
Working through the complicated math, that means that if every eligible diamond buyer makes a claim under the settlement, the rebates would amount to about one-tenth of a cent on the dollar. Which would mean just $2 back on that $2,000 ring.
Translation: Definitely don't show this story to your friends.
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About the diamond settlement
Under a proposed settlement of class-action lawsuits against the De Beers diamond company, consumers who bought diamonds between Jan. 1, 1994 and March 31, 2006, can apply for rebates.
Who's eligible: Anyone who bought diamonds or diamond jewelry in the U.S. during the covered period.
Refunds: Payments could range from 6 percent to 59 percent of the retail price, depending on the value and type of jewelry. For example, diamond rings priced from $1,000 to $5,499 are eligible for a maximum 32 percent refund.
Signing up: Details of the settlement and online claim forms are available athttp://www.diamondsclassaction.com .
What's the catch? The total value of the settlement is $295 million, so the more consumers who make claims, the smaller each individual rebate will be.
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For today's brides, diamonds are still forever; they're just not always round anymore.
In the $6 billion market for diamond engagement rings, square-cut designs, notably worn by actresses Ashley Judd, Brooke Shields and Reese Witherspoon, are booming in popularity. Witherspoon sported an Asscher square-cut stone, distinguished by long, slender facets and beveled corners. Judd and Shields flash a cushion style, with curved sides, rounded corners and triangular facets.
While round diamonds are still the most sought-after shape, representing 47 percent of diamond engagement rings, that's down from 55 percent a decade ago, the New York-based Diamond Information Center says. Square cuts have grown to 30 percent from 9 percent in 1999.
``I had seen so many round diamonds, on friends and family, so I just wanted something a little more unique,'' said Lorna Blaire, who recently decided on a cushion cut for her ring, a 2- carat gem set on a diamond and platinum band. ``It looked pretty on my hand. It pops out.''
The months of October through December accounted for 37 percent of U.S. sales of diamond engagement ring in 2006, when more than 80 percent of brides received a diamond engagement ring.
The holidays are ``a time for gathering the family, and it's a great time to show your ring,'' said Hamida Belkadi, chief operating officer of the U.S. arm of London-based De Beers Diamond Jewellers Inc.
Record Prices
Blaire, a 31-year-old kindergarten teacher who lives in Great Neck, New York, plans to brandish her ring when she, her fiance, relatives and friends spend a week together in Aruba between Christmas and New Year's. She and Gregg Fishbein, 30, a pharmaceutical salesman in New York City, got engaged in May and are marrying in July. Blaire said she didn't know the price of her ring.
Last year, Americans paid a record average price of $3,200 for the 1.9 million diamond engagement rings they bought.
The diamond solitaire engagement ring became popular after World War II, helped by De Beers's ``A Diamond Is Forever'' marketing campaign.
U.S. demographics point to growing purchases. Marriages will peak at 3 million annually in 2016, up from 2.3 million during the 1990s, said Ken Gassman, president of the Jewelry Industry Research Institute in Glen Allen, Virginia.
At jeweler Harry Winston, where engagement rings start at $18,000, the trend toward square cuts has generated sales of its emerald cuts set with tapered baguettes, as well as its cushion cut in a micro-pave -- diamond-studded -- setting, spokesman Carson Glover said.
Asscher Cut
The cushion cut dates back to the 18th century. The original versions, meant to be worn in candlelight, glow softly. The Asscher was designed in 1902 by the diamond-cutting Asschers of Amsterdam.
Cutters now use modern technology to get a more brilliant shine out of the older shapes. Jewelers began offering such cuts when the supply of vintage jewelry couldn't meet the demand as those styles became trendy, Penny Proddow, co-author of ``With This Ring,'' said in an interview.
Tracy Lantz, a spokeswoman for the Diamond Information Center, reflects the trend toward square shapes.
``I received a round diamond from my first husband in 1999, which is what I wanted at the time,'' Lantz said. ``I wanted an Asscher when I got engaged to my now-second husband last year.''
The princess cut was created by London jewelry designer Arpad Nagy in 1961. It provides the same kind of sparkle as a round brilliant cut, yet the flat square shape makes the same carat weight appear larger, Lantz said.
New Tiffany Designs
Seeking to capture the new demand, New York-based Tiffany & Co. introduced a square ring, the Novo, in November 2006.
The Novo is based on the 128.54-carat Tiffany diamond on permanent display in the Fifth Avenue store in Manhattan. The Novo is a cushion-cut solitaire, set on a diamond and platinum band. A 1.01 carat version sells for $12,700.
It follows the Legacy vintage-style ring introduced in 2004 by Tiffany, the world's second-largest luxury jewelry retailer after Cie. Financiere Richemont SA, of Geneva. In the Legacy, diamonds surround a cushion-cut stone.
In 1999, Tiffany unveiled the patented Lucida square diamond cut, which has wide corners and as many as 50 brilliant facets. It is set on a wide, plain band.
The round-brilliant diamond was invented by Belgian-born cutter Marcel Tolkowsky in 1919. Its 58 triangular and kite- shaped facets allow light beams to bounce back through the crown.
Gassman at the jewelry research institute said men who are remarrying this season may be facing an even larger shopping task.
``Sometimes a second wife says, `I better have a bigger diamond than the first wife,''' he said.
To contact the reporter on this story: Cotten Timberlake in Washington at
By Cotten Timberlake, Nov. 26 (Bloomberg)
Posted by: Megan at DiamondIdeals.com
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