Gem Diamonds

Gem Diamonds appoints new non-executive director

The board of global diamond producer Gem Diamonds has appointed Janet Blas as an independent non-executive director, effective 1 April 2024. This announcement follows the planned retirement of Michael Lynch-Bell, the current senior independent non-executive director, who will step down from the board on 31 March 2025 after nine years,…

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Gem Diamonds revenues rise to $42.7m in Q3

Gem Diamonds has seen its revenues surge to $42.7m (£32.8m) in Q3 2024 compared with $34.8m (£26.78m) in Q2 2024, as it sold 25,617 carat diamonds. It also revealed that the average price per carat also improved, rising to $1,603 (£1,233.5) from $1,424 (£1,095.7) in the prior three months. The…

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Gem Diamonds revenues rise by 9% in H1

Gem Diamonds has reported a 9% increase in revenues to US$77.9m (£60.6m) as it sold 56,944 carats in H1 2024 (H1 2023: 52,163 carats). From 1 January 2024 to 30 June 2024 the group also achieved an average price of US$1,366 (£1063.7) per carat and saw a 10% increase in…

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Sotheby’s to accept crypto payment for £10m diamond

Sotheby’s has revealed that it will accept cryptocurrency payment for a diamond that may sell for over £10m. According to Sky News, the 101.38-carat pear-shaped diamond will be the first stone of such a value to be available to purchase using cryptocurrency, although it is also listed for traditional payments.…

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Gem Diamonds sales rise in H1

Gem Diamonds has announced that it generated $29.4m (£22.3m) in its half-year results, after 16 diamonds sold for more than $1m (£760,000) each. This marked a rise against the 12 diamonds that sold for $26.6m (£20.2m) collectively in the first half of 2019.  During the period, the average price of…

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Christie’s Geneva auction to feature largest fancy vivid pink diamond worth $50m

Christie’s Geneva auction will present the largest and finest fancy vivid pink diamond ever offered at auction by the company with a price estimated between $30m to $50m (£22.8m to £38m). Weighing just under 19 carats (18.96 carats), the rectangular-cut gem named the The Pink Legacy will lead Christie’s Magnificent…

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‘Exceptional quality’ diamond sold for $40m

Gem Diamonds has announced the sale of an ‘exceptional quality’ 910-carat D colour Type IIa diamond, which was sold for $40m (£28m) in Antwerp on 12 March 2018. It was recovered from the Letšeng mine in January 2018 and is the fifth largest gem quality diamond ever recovered. Clifford Elphick,…

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Sotheby’s Diamonds unveils ‘exceptionally’ rare diamond

Auctioneers Sotheby’s Diamonds celebrated the first anniversary of its New Bond Street salon by unveiling a rare 102.34 carat white diamond. According to the group the stone is the only known round brilliant-cut diamond over 100 carats, and has been labelled as ‘perfect’ in colour, clarity and cut. The diamond…

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Gem Diamonds recovers ‘exceptional quality’ diamond

Gem Diamonds has recovered an 910-carat diamond from its Letšeng mine in Lesotho, South Africa.   It is the largest diamond ever recovered from the mine and the fifth largest gem-quality diamond ever recovered by the company. Clifford Elphick, Gem Diamonds CEO, said: “Since Gem Diamonds acquired Letšeng in 2006,…

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Largest rough diamond discovered in 100 years could fetch £48m at auction

The largest rough diamond to be discovered in over a century could sell for more than $70m (£48m) at a Sotheby’s auction. The 1109-carat ‘Lesedi la Rona’ – the largest gem-quality rough diamond to be discovered in over a century and the largest rough diamond in existence today – will…

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