The manufacturing department of Graff Diamonds outbid six other bids by eminent diamantine before winning the Leseli la Letseng or the Light of Letseng at Antwerp, Belgium. The stone is said to possess outstanding color and clarity. It is the most valuable of the rough diamonds sold so far. The coveted diamond was recovered a mine in Lesotho which is under the control of Letseng diamonds (a 30-70 partnership between Lesotho government and Gem Diamonds).

Among the worlds 20 rough diamonds, four have been recovered from Letseng mines. Of these, three including the Light of Letseng were bought by Graff Diamonds whose chairman Laurence Graff holds an 8.2% stake in Gem Diamonds. The stones, Lesotho Promise (603 carat), Letseng Legacy (478 carat) were the ones sold to Graff diamonds prior to Light of Letseng. The company claims to utilize their premium knowledge and expertise in producing a beautiful polished diamond of minimum 200 carats. The large rough diamond was sent to Antwerp where it was examined and determined that it was a type II D color diamond, had no visible inclusions and possessed outstanding clarity. It could become the largest flawless D color polished diamonds in history after refinement.

Clifford Elphick, CEO of Gem Diamonds called the Light of Letseng as a very significant diamond recovered and its sale as a testament to the value of the diamonds the mine produces. The trying times faced by the world have not deterred the price of this stone and it has been recognized and valued for its outstanding quality as it rightly deserves. Gem Diamonds is a global diamond company and has wide spread operations taking place in Angola, Austria, Botswana, the Central African Republic, the Democratic Republic of Congo, Dubai, United Arab Emirates, Lesotho and Indonesia. The company was established in 2005.

Letseng has been placed in the forefront among the diamond producing countries. The mines here have yielded precious stones one after another and these were found to possess outstanding quality and of rare occurrence elsewhere.

Wages paid to these diamond artisans have not risen for a long time. This stagnancy of the wages has led to many workers finding better paid and more lucrative jobs elsewhere. With the recession in the global markets the diamond industry in Gujarat is set for another major blow. The last few years have seen as much as 250,000 workers retrench the industry leaving behind only around 500,000. The cutters and polishers went on strike and a 20% increase in the wages was granted by the Surat Diamond Association.

The economic slump has seen the close down of 15% of the 4000 factories in Surat in the recent years. The years from 2002 to 2005 saw the growth of exports at an average 20% to shrink about 8% the following year. The industry has not recovered its exports so far and they are flat. The US slow down has taken the maximum toll on the Surat diamond industry due to the fact that more than half of the diamonds are polished and cut and exported to the Us market.

Small scale business employers like Mr. Ganesh Ghevaria had to shell out maximum number of workers due to low wages. The workers in such places sit on the floor without their shirts to beat the heat. They polish and cut the stone with their hand making use of tiny black marks as guide while utilizing the rotating saw to shape the stones.

Surat diamond industry has an interesting history. Diamonds were bought here by the Indian merchants in the beginning of the twentieth century, while returning from East Africa. Surat first ousted and overtook Mumbai as the diamond manufacturing capital. It broke the dominance of Antwerp, Belgium’s diamond industry by using low labor costs and produced smaller carat stones which were previously less viable.

Surat’s diamond merchants are now trying to target new audiences in other countries to reduce their dependence on the US markets. Mr Sanghvi the director of Sanghvi group, one of the largest diamond cutters in India has expanded in Middle East and Asian markets to offset slow down in the US markets

• Diamond studded Journey - Journey pendants are especially for celebration of love.  Diamonds represent the growth of love over time. The 0.25 carat diamond, rounded in shape, seven in number are set in a curve made of white gold in a 4- prong setting.
• Celebrate your faith this season - A traditional cross made of white gold. The cross is studded with diamonds equaling to 0.25 carat weight.  Pendant is hung on an 18 inch rope chain.
• Cross her wrist – A cute bracelet made of white gold is adorned with sweet ‘x’ shapes and symbols of love and kisses. Bracelet is set with diamonds of 1/10 carat weight.
• I know her birthday is sometime in December - This is pendant with the birthstone for people born in December. The blue topaz is set in white gold surrounded by artificially produced sapphires and diamonds. This ideal birthday gift hangs on an 18 inch chain
• Take it to the hoop - These are classy hoop earrings which have a diamond set in the prong setting. The hoops are made of white gold and add sophistication to the piece.
• That stud’s a princess - These are solitaire diamond stud earrings with the diamonds in the princess cut and 3/8 carat. The diamonds are set in 4- prong setting.
• That’s one twisted ring - Lines of white gold are twisted, crossed and overlapped and these are then studded with diamonds of 0.5 carat weight. The diamonds used are round in shape and the setting is an open one.
• Heart the holidays - White gold ribbons overlap in a beautiful open heart shape. There is a double row of diamonds on each half of the heart. The diamonds total 1 carat. The setting is channel setting. The feminine pendant hangs from an 18 inch rope chain.
• Man of steel - A stainless steel bracelet from Simmons Jewelry. The bracelet comes with a polished finish and is adorned with polyurethane accents and is studded with a single round diamond. The chain is 8mm wide and 8.5 inch long.
• Make sure he’s on time for your holiday party - A Citizen Eco-Drive (TM) Calibre 2100 chronograph watch. This is made in stainless steel.

Recession has incurred insecurities among people regarding their jobs and their day-to-day existence. Hence, they are incorporating means and methods for ensured survival. Things that were considered luxury have become past. At one juncture where plastic money or multiple credit cards paid all the bills, people today give privilege to cash over them. This assures them to stay within their limit as banks too are experiencing the mar of recession.

Where US once introduced and popularized packaged food; now homemade meals have taken their position. This enables low costing on the necessity. People are purchasing bulk ingredients for cheaper benefits and for the fear of prices soaring up. Moreover, weekend dining and wining in restaurants and pubs has been drastically curtailed leading to hotel industries suffering more.

Festivities too are not unaffected by the slogging economy. More and more people are opting either for second hand gifts purchased online or in garage sales for their near and dear ones. Christmas and New Year saw the era’s worst sale this year.

Many people are selling off products, which are not used much for accumulating cash. An assessment of the products and articles present in the house is being done and whatever extravagant, is being put up for sale on internet in eBay or garage sale for generating funds. And contrary to earlier practice, this money goes in the saving account for securing future. From antique pieces to jewellerries to perfumes, everything is being offered on sale.

Saving of gas and petroleum products is being ensured through usage of car pools and public transport. People are giving up on the luxuries of their personal cars and opting for these economical methods to save fuel cost. Multiple jobs are other mediums being adopted for insuring the future of families.

The rich people too are facing the wrath of recession and vacations abroad are no more luxuries as people are looking out for avenues closer to their hometown. Watching movies at home, spending less on jewellerries and other thrivings and saving more cash is the trend this year. This pattern will continue until the economy stabilizes.

This famed diamond was sold by the government of the Lesotho kingdom and the Gem Diamonds mining company (joint venture) to Graff Diamonds which is based in the United Kingdom. Laurence Graff is the chairman of this company. The diamond was sold for 18.4 million dollars.

The auction held at Antwerp for the diamond saw many prestigious diamond dealers out bid each other for the possession of the famed gem. The winning bid was submitted by the manufacturing arm of Graff diamonds, the Safdico. The company lays its claim on expertise and knowledge of large diamonds and is planning to produce a beautiful polished stone of at least 200carats from the rough diamond that they won. The price paid for the gem makes it the costliest rough diamond.

The Letseng mines have produced other coveted gems in the past like the Lesotho Promise of 603 carats, the 493 carat Letseng Legacy, the 601 carat Lesotho Brown. Of these, two have been bought by Graff Diamonds previously. These are the Lesotho Promise and the Letseng Legacy. Hence the acquisition of the Light of Letseng has increased the significance of the company. The mines were owned by De Beers for many years.

The Letseng mine is known for producing historic stones. The new diamond is the third that has been recovered from the mine following Letseng Legacy in 2007 and Lesotho Promise in 2006. The Lesotho Brown was discovered in 1967 and was about 601 carats. Including this the mine has produced four of the top twenty largest rough diamonds and of these three has been recovered in this century.

The sale of the diamond for such a huge unexpected price, even during recession came as a surprise. But the Light of Letseng is a high quality diamond and has exceptional clarity and is flawless hence the price is apt to its significance. The sale of this diamond is the proof the people have in the enduring dependence on diamonds, its value and its beauty. The stone is worth every dime spent.

The business has been doing well since he started it, claims Mr. Koss. He was formerly the owner of Basic Styles Inc. which was based in Madeira and supplied diamond jewelry to retail jewelers at wholesale prices in fourteen states like Ohio, Indiana, and Kentucky etc. The company was closed in April after a successful stint of 17 years. Koss is a veteran in the diamond business. His decision to close down the wholesale venture was largely due to the increasing cost of doing business. By selling directly to individuals the price of the diamond and setting can be reduced almost ten percent to thirty percent as compared the traditional jeweler. This is because the overhead costs are not required here and the customers can reap this benefit.

Diamonds sold by this private dealer ranges from 1 to 3 carats in size and in between $5,000 to $25,000 in price.  The customers come from various fields including, doctors, lawyers, other professionals, employees from large companies like Procter and Gamble, Midland etc. Marketing of the services provided by Koss is done on the local radio stations. Client referrals constitute a major chunk of his new clients. He makes house calls and even office visits to sell his gems.

The website, fkdiamonds.com is Koss’s. His website does not perform sales transactions but provides information about the gems available with him and is a portal to contact him. He handles all the sales by himself and thus proves his reliability. The main aim of his business is to provide his customers with good quality gems at a lower cost so that comparison would reveal the value of the purchase. He mainly deals with engagement rings which are sold throughout the year. Koss’s diamonds are bought from diamond dealers in the United States and from other places all over the globe.

Home, car and engagement rings are few of the expensive purchases that are mandatory in anyone’s life. Hence it is important to make sure that the diamond purchased pertains to standards like quality, characteristics and value. Knowledge of diamond certificates, appraisals and insurance is beneficial to avoid any sort of fraud.

Certificates provide proof of the diamond’s identity. Certificates are usually issued by the independent accredited gem labs like the Gemological Institute of America and the American Gem Society that have no part in the sale of the diamond. The certificated issued by these bodies attest the quality and authenticity of the diamond. These help in determining the value of a diamond in comparison to others. The certificates are used by the appraisers to determine the replacement value of the diamond or for insurance purposes; although this has to be accompanied by a separate appraisal. The certificate lists the characteristics of the diamond like its shape, carat, color, clarity, exact measurements, proportions, imperfections, polish and symmetry. The quality of the cut and the presence of fluorescence is also mentioned and commented upon.

Appraisals are documents stating the approximate value of insurance, replacement and estate of the item. The insurance company requires this document to provide insurance. The value of an item is calculated on factors like current retail price, regional markets, cut, color, clarity, carat weight, weight of precious metal used for the jewelry, origin of materials used and the craftsmanship of the piece. Some of the appraisals have plots, diagrams and photos in addition to documentation.

Insurance options are available with the retailers usually in association with insurance firm. The policies are many and research and comparisons should be done before settling on one. The coverage of the insurance can be added on the home owner’s policy if permitted by the agents. Another option is to take special jewelry insurance policies from insurance firms that provide separate policies.

Certificates, appraisals and insurance are helpful in maintaining and looking after the precious diamond that you purchased for those cherished moments of life.

Jewelry is usually bought for the sentiments attached to the occasion and the piece purchased is cherished in memory of the event. Where sentimental value is concerned the monetary value of the jewelry is next to nothing for most of the customers and they do not hesitate to indulge in a particular piece that holds their fancy in spite of the economic crisis faced by the country. Precious metals and stones have been holding up their standards from time immemorial and they are definitely the ideal accompaniments for special occasions in a person’s life. Gold and silver jewelry studded with precious gems like diamonds have been the ultimate in jewelry from the royalty to the common man.

The prices of the precious metals are on an all time high and a slump was expected in their sales, but time has proved otherwise and there is a steady sale of this metal jewelry due to the sentimental value attached to it and the mandatory requirement for it in special occasions. The customers firmly believe that the prices would eventually stabilize and that investment in this would prove profitable in the long run.

Jewelry is an investment for lifetime. They can be cherished and handed down over generations without the loss of value both monetary and sentimental. It is a fixed asset that is beneficial in times of need. Hence buying of jewelry is not a whim alone but definitely a wise decision. The sales at the Sioux Falls store is a testimonial to the fact that huge number of people are indeed opting to buying diamonds and other precious jewelry amidst the tarnished economy.

Cocktail rings need not necessarily be made of precious stones and diamonds. They are justified as a style statement; hence, a semiprecious stone or a fake would be equally fashionable. They are available all over, from a department store, online site to jewellery stores. The easy accessibility depicts its popularity with the women folk. The prices too of these rings depend largely on the stone and band metal. The authentic stones, pearls, encrusted in gold, silver or platinum range higher where as the fakes and the semiprecious are lowly priced. But the whole criteria of purchased should not be the cost; It should be purchased keeping outfit and occasion in mind.

While adorning the cocktail ring, key pointers should be taken care of. The bold and beautiful designs of the ring should complement the outfit and the occasion. A simple outfit or a daywear looks extremely sophisticated when teemed with the right shade and shape of a ring. Huge chunky stones in contrasting colors look extremely outstanding with simplistically designed garbs. There are rings available in combination of stones too. However, consideration of right combination is mandatory to bring out the most.

The shape and color of the cocktail rings too must be considered while dressing up. Either they should be in contrast or complementary. The size and shape of the stone is a decisive factor for bringing out the overall appeal of the outfit. Moreover, the styling of the cocktail ring decides on inculcation of other pieces of jewellery. The ring as such is termed as a complete embellishment. Hence, teeming tame jewelry with cocktail ring seems ideal.

Cocktail rings in itself amply glamorize the whole appeal of a person. It is not an essential piece of ornamentation and one can do without them. However, the style conscious lot had justified it as an indispensable piece of jewel.

Hence, go ahead and be the most talked about style icon by flaunting a cocktail ring with a faux fur wrap and a black outfit.

The celebrated blue diamond is a 35.56 carat gem shaped in the form of a cushion. It has been compared to the Hope Diamond on the basis of its color and clarity. The stone has a rich history and heritage that makes it all the more awesome and incredible to own.

In 1664 the diamond, purchased by King Philip IV of Spain, was a part of his teenage daughter’s (Infanta Margarita Teresa) dowry. After her untimely death at a very young age the diamond was in the possession of her husband, Leopold I of Austria. The gem was handed down through generations and when his granddaughter got married to Charles of Bavaria, who was a member of the Wittelsbach family; in 1772 it inherited the Wittelsbach name.

The diamond was known as Der Blaue Wittlesbacher and was passed down by many Bavarian rulers like the first ruler of Bavaria, Maximilian IV Joseph von Wittelsbach who mounted the gem in his crown. It made its last state appearance in 1918 after the First World War. The diamond thereafter vanished from public eye after 1931 where it was put up for being auctioned but could not be sold, to resurface in 1962. It is said that it was recognized by a jeweler who refused to re cut it and hence saved its significance.

The period from 1931 to 1962 when the diamond was not reported to be seen anywhere is a mystery in its history. Many speculations have been doing the rounds but there is no specific story that can explain its absence from the public eye. The exact events pertaining to the period is still unknown. The mystery around this diamond seems to have escalated its price.

Colored diamonds are a rarity and usually fetch very high prices in auctions. A smaller diamond of 13.39 carat, blue in color was sold at $8.9 million. Auctioneer Francois Curiel and Christie’s are the auctioneers who hit gold with this diamond. They claim that it was “an historic price for an historic diamond.”