Diamonds & Engagement Rings News

A 478-carat diamond was sold for $18.4 million to a unit of the UK-based Graff Diamonds on Tuesday by the government of the southern African Kingdom of Lesotho.

The diamond, which is the 20th largest rough diamond ever discovered, was the named the Light of Letseng, said Gem Diamonds.

The company stated that the diamond was sold in Antwerp for $38,400 per carat, which was beyond the global average diamond price of $90 per carat.

                     

The diamond was originally discovered from a mine in Lesotho controlled by Letseng Diamonds, a 30-70 affiliation between the government of Lesotho and Gem Diamonds.

The Letseng mine is known for producing four of the world’s 20 largest rough diamonds. Of these four diamonds, three have been bought by Graff Diamonds.

Laurence Graff, Chairman of Graff Diamonds, holds an 8.2 percent stake in Gem Diamonds.

The shares of Gem Diamonds were up 0.8 percent at 252 pence at 0808 GMT on Tuesday.

The diamond industry has agreed on stopping to import rough diamonds temporarily in order to limit the crash of the international meltdown on the industry. The Gem & Jewelry Export Promotion Council (GJEPC) has made the decision at a meeting a couple days ago.

The council had requested its members to stop importing diamonds for at least five weeks, starting November 25th. Chairman of GJEPC, Vasant Mehta, said, “We have decided not import rough diamonds from November 25 to December 31. We have asked our members to act accordingly.” He explained further that stopping of imports would cause fewer roughs to enter the diamond pipeline, allowing manufacturers an opportunity to clear older stocks.

     

Mehta continues, stating, “It will also help the industry in facing the challenge that has arisen out of the turmoil in the global financial market.” Council officials added that if the situation does not get better by then, then the time of import of diamonds might be extended.

The previous chairman of GJEPC, Sanjay Kothari, said that due to the recession in the U.S. and other major markets, the demand for diamonds was very weak. He concludes by saying, “The liquidity situation is also not very god. We feel that the move to stop imports will help the industry in general.”

Nicole Scherzinger has been suspected of being engaged to current boyfriend, Lewis Hamilton because of a recent sparkling diamond ring being flashed. Earlier this week, while the singer and race-car driver were leaving a hotel in Sao Paulo, Brazil, photographers snapped pictures of them, also discovering a flashy ring as she raised her left hand to her waist.

                       

Neither one of the lovers have confirmed these rumors just yet. When questioned about her love life with Lewis, whom she’s been dating since May of this year, Nicole responds very openly.

Although, initially rumors spread claiming the couple was breaking up, in September Nicole stated that she and Lewis were looking for a house to buy so that they can move in together. Moreover, she wrote a song for him called “I Think I’m In Love.” She refers to this new song saying, “It’s a very personal song. It’s very in-depth and emotional - a real song that I know is going to connect with people.” 

Furthermore, Nicole posts a video online proclaiming her love for Lewis, who had become the new Formula One world champion for winning at the Brazilian Grand Prix. In the video Nicole adds in, “I’m so excited, I feel like I’m on top of the world right now… Why? Because I want to congratulate my boyfriend Lewis Hamilton for being the official Formula One World Champion. Congratulations baby, I love you, I love you, I love you. It’s all about the love and it’s just good times.”

Moments after Birmingham City striker Marcus Bent gets down on one knee, Gemma Atkinson accepts the proposal to marry him, I’m A Celebrity… Get Me Out Of Here! star, 23, was proposed to by Bent while at a romantic trip to the Lake District. Gemma Atkinson, model and actress, is now sporting a $166,000 engagement ring.

Daily Star had quoted a friend of the couple stating, ‘Gemma was thrilled when Marcus popped the question. He really is the love of her life and she’s sure they will be together forever. They are both very happy.’

The duo began dating in 2006, while Atkinson was still starring in Channel 4 soap Hollyoaks. In 2007, the two split for several months, while at the same time Bent, 30, was seen out with glamour model Danielle Lloyd. Though, by November 2007 the couple was seen back together again just before Atkinson flew to Australia to star in I’m A Celebrity.

While acting on the jungle reality show, Atkinson rapidly won over an army of male fans because of her curvaceous figure that was often displayed in bikinis.

For Atkinson, who claimed she didn’t want to be ‘tied down’ at an interview in OK! magazine earlier this year, the engagement seems to be quite a turnaround.

She stated, “I’ve never been one of those women who’ve thought about marriage and kids. I will get married but I don’t want to consider it until I’ve enjoyed my twenties and we’ve lived together for a while.”

The star also speaks of her love for the footballer, saying, “He’s like a rare diamond, once you’ve got then, you keep hold of them.

‘Marcus is very romantic - every day he does something nice for me. The other day we were staying at a hotel and Marcus checked out before me and wrote: ‘I love you’ on the mirror with soap.’  Â

Moments after Birmingham City striker Marcus Bent gets down on one knee, Gemma Atkinson accepts the proposal to marry him. I’m A Celebrity… Get Me Out Of Here! star, 23, was proposed to by Bent while at a romantic trip to the Lake District. Gemma Atkinson, model and actress, is now sporting a $166,000 engagement ring.

Daily Star had quoted a friend of the couple stating, ‘Gemma was thrilled when Marcus popped the question. He really is the love of her life and she’s sure they will be together forever. They are both very happy.’

The duo began dating in 2006, while Atkinson was still starring in Channel 4 soap Hollyoaks. In 2007, the two split for several months, while at the same time Bent, 30, was seen out with glamour model Danielle Lloyd. Though, by November 2007 the couple was seen back together again just before Atkinson flew to Australia to star in I’m A Celebrity.

While acting on the jungle reality show, Atkinson rapidly won over an army of male fans because of her curvaceous figure that was often put on show in bikinis.

For Atkinson, who claimed she didn’t want to be ‘tied down’ at an interview in OK! magazine earlier this year, the engagement seems to be quite a turnaround.

She stated, “I’ve never been one of those women who’ve thought about marriage and kids. I will get married but i don’t want to consider it until I’ve enjoyed my twenties and we’ve lived together for a while.”

The star also speaks of her love for the footballer, saying, “He’s like a rare diamond, once you’ve got them, you keep hold of them.

‘Marcus is very romantic - every day he does something nice for me. The other day we were staying at a hotel and Marcus checked out before me and wrote: ‘I love you’ on the mirror with soap.’

Spotted in Miami with five bodyguards surrounding her, Beyonce Knowles heads to the beach where she can soak up some rays with the company of her sister and personal assistant, before heading to her performance at the 2008 Bermuda Music Festival.

                

In April, former Destiny’s Child member married her boyfriend, Shaun Jay-Z Carter after six years of dating. Even though the couple has not publicised their marriage yet, the 18-carat Lorraine Schwartz diamond ring, worth $5 million, speaks much of their relationship.

On November 18th Beyonce plans on releasing a new album. The celebrity had posted a statement on her official website: “I have recorded over seventy songs and have created a sound that reveals all of me. I am in a different place right now and I wanted people to see the many sides of me. I have worked on this album for close to one year. I have poured my heart and soul into it. It is my baby. It is the most time I have spent on any project since my first records as a member of Destiny’s Child.”

                 

Scarlett Johansson has tied the knot with Ryan Reynolds this past weekend in an intimate ceremony outside Vancouver in Canada, where the groom was raised. The two can officially be called husband and wife.

Although the wedding was kept on the down low, a representative of Scarlett had confirmed the wedding did really exist and was attended by her mother, Melanie Sloan and her brother, Adrian Johansson. This is the first wedding for both, Ryan, 31 and Scarlett, 23.

           

The duo began dating in February last year, soon after Ryan broke off his engagement to the singer, Alanis Morissette. Later in May 2008, the pair had announced their engagement. Though accurate details of the engagement date were kept under wrap, Scarlett has been spotted wearing an approximate three-carat stone ring ever since.

All attention was focused on the dazzling, Vanessa Williams, who had brightened the red carpet with the Itay Malkin Jewelry on her while at the 60th Primetime Emmy Awards.

The jewelry she was modeling included diamond drop earrings that were a contemporary balance of baguette and emerald cut diamonds, combined with pink and yellow diamonds. The total weight was 12.36-carats set into shining 18-carats white gold. Her bracelet was a fine and beautiful piece of petite, princess-cut diamond rows of 72-carat total weight, set in platinum that suited her customized Kevan Hall printed dress with a mermaid figure of complete perfection.

This has not been Malkin’s first time on the red carpet. Just last week Kim Cattrall wore a stylish pair of black diamond cluster earrings to the DVD premiere of Sex and The City on Thursday, September 18. On the same night, Rachael Ray amazed the “Focus: An Evening of Photography to Benefit City Harvest” wearing a set of earrings, necklace and ring from Itay Malkin’s premiere, Black Diamond jewelry collection. Sara Jessica Parker, Jessica Simpson, Lindsay Lohan and Adrian Grenier are other celebrities who have dressed in some of Itay Malkin’s jewelry.

During the Thomas Weisel Partners 2008 Consumer Conference in New York this morning, Blue Nile Inc. presented to investors.

Diane Irvine, CEO of Blue Nile repeated the findings for the company’s second quarter by stating that the retail status in the United States is challenging.

Trends have taken a turn, downsizing in bridal purchases. Consumers began trading their solitaires for diamond bands, which has an average price difference of about $6,000 to $3,000. Furthermore, buyers were switching their band quality from platinum to white gold.

The economy did not actually have any statistical evidence of a slow-down on wedding bands or engagement rings, but Mark Vadon, Blue Nile chairman said that unclear data hinted to a weakening market.

Vadon had reminded the people who attended the meeting that buying the ring was just part of the larger marriage investment; the package also includes a wedding and setting up a new home.

In the southern African kingdom of Lesotho, miners from Gem Diamonds mining group have found one of the largest diamonds in the world. The white gem is nearly flawless with a weight of nearly five-hundred carats.

After being discovered in the Letseng Mine on September eight, the gem was taken for examination by experts in Antwerp who stated that the weight was 478 carats with hardly any inclusions and of excellent color and clarity.

The company said, “It has the potential to yield one of the largest flawless D color round polished diamonds in history.”

Letseng is knwon to be one of the most productive mines in history, producing four of the world’s twenty most massive rough diamonds in history, including the three largest found this century.

It is difficult to value the diamond before it is cut into gems, although a spokesman for Gem Diamonds said a similar weight stone with lesser-wuality color and clarity had lately been sold for $12 million.

Clifford Elphick, chief executive of  Gem Diamonds stated, “Preliminary examination of this remarkable diamond indicates that it will yield a record breaking polished stone of the very best color and clarity.”

Gem diamonds owns 70% of Letseng. The government of Lesotho owns the other thirty percent.

The Cullinan, which was discovered in South Africa i 1905, is still the world’s largest diamond since. The diamond weighed over 1,300 carats before being cut up into over one hundred separate gems. Most of those gems are a part of the British crown jewels.