IndependentsAug 20, 2025
Bellman’s Jewelers Opens Second Store After COO's TikTok Takes OffThe New Hampshire-based store has expanded to Boston, propelled by the success of Alex Bellman’s TikTok page, “The Truthful Jeweler.”
SourcingNov 30, 2020
De Beers, Diacore Buy Blues From the Cullinan Mine
The two companies paid a little over $40 million for the five diamonds, which range in size from 10 to 26 carats.
The five blue diamonds recovered from the Cullinan Mine over the course of the same week in September are, from left to right, 9.61, 11.42, 17.57, 21.25, and 25.75 carats. (Photo courtesy of Petra Diamonds)
London—De Beers Group and Diacore are partnering to buy the five blue diamonds recovered from South Africa’s Cullinan Mine in the same week earlier this year.
De Beers and the diamond manufacturer are paying $40.36 million, split equally between the two companies, for the collection, which totals 85.62 carats and ranges in size from about 10 to 26 carats.
Two natural color diamond experts, Joseph Namdar of Namdar Inc. and Eden Rachminov, said they cannot comment on the purchase price until the diamonds are polished and graded.
“I can tell you with absolute certainty, however, that the buyers are counting on the diamonds being graded as fancy vivid blue,” Namdar said. “Even if they are all graded intense blue, I don’t believe they (De Beers and Diacore) will cover their investment.”
Rachminov, chairman of the board of the Fancy Color Research Foundation, which collects and analyzes wholesale and retail data on fancy color diamonds, called the purchase of the five blue diamonds a “smart move.”
“Generally speaking, any rare fancy color diamond is considered to be a safe purchase these days as the supply diminishes year after year,” he said.
“We also see that fancy color diamond producing mines are slowly closing, such as the Argyle mine, and other mines’ futures, such as Petra (Cullinan) in South Africa and Dominion (Ekati) in Canada, are not clear.”
The diamonds (which can be seen below in the slideshow, in ascending order of size) are: 9.61, 11.42, 17.57, 21.25, and 25.75 carats.
De Beers and Diacore said in the news release on the purchase of the diamonds they will select
“expert craftsmen” to study and cut the diamonds.
(All photos courtesy of Petra Diamonds)
Petra announced it was selling the five blue diamonds via tender about a month ago, immediately after the financially troubled miner handed itself over to lenders in a debt-for-equity restructuring deal.
The diamond miner is also dealing with allegations that security employees and contractors at the Williamson mine in Tanzania beat and shot at artisanal miners who trespassed on the site, killing at least seven of them. Petra owns a 75 percent stake in the mine; the government of Tanzania owns the other 25 percent.
Leigh Day, the same U.K. law firm that sued Gemfields over human rights abuses at its ruby mine in Mozambique, has filed a claim against Petra in the High Court in London on behalf of 35 Tanzanians who
Editors' Picks
Sponsored by
live near the mine and claim they, or their family members, were abused by the mine’s security forces.
More on Sourcing
The Latest
CrimeAug 20, 2025
Another CA Jewelry Store Rammed With Car, RobbedThe latest incident happened Monday at a store in Oakland, California, continuing a pattern JSA first warned about last month.
WatchesAug 20, 2025
Oris Launches Watch Benefiting NYC Harbor Oyster RestorationThe new aqua green New York Harbor Limited Edition II is the watchmaker’s second collaboration with the Billion Oyster Project.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
Events & AwardsAug 20, 2025
Take the Jewelers for Children ‘Trinity of Purpose’ ChallengeParticipants who attend any three Rings of Strength events will be awarded a special medal.
Weekly QuizAug 15, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsAug 19, 2025
Peter Smith: The Arrival Fallacy and Jewelry RetailSmith shares wisdom he gleaned from a podcast he was listening to one morning while being walked by his dog, a Malshi named Sophie.
CrimeAug 19, 2025
Customs Seizes 7,300 Pairs of Fake ‘Alhambra’ EarringsThe counterfeit Van Cleef & Arpels jewels would have been worth more than $30 million if genuine.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
MajorsAug 19, 2025
MJSA Apprenticeship Program Is Nationally RecognizedThe MJSA Mentor & Apprenticeship Program received the Registered Apprenticeship Program designation by the U.S. Department of Labor.
WatchesAug 19, 2025
Casio America Names New Timepiece Division ManagerCasio executive and watch enthusiast Masaki Obu is the new general manager of its U.S. timepiece division.
MajorsAug 18, 2025
Verragio’s Michael Barabash, a ‘Kind Soul,’ Dies at 58Barabash, Verragio’s client relations representative, was a vital member of the team and is remembered as being warm and full of life.
CollectionsAug 18, 2025
John Hardy’s New ‘Dot’ Collection Is on PointOriginally introduced in 1992, the “Dot” collection is back with a capsule featuring five archival designs and three new creations.
Events & AwardsAug 18, 2025
IJO Announces 2025 Vendor of the YearAllison-Kaufman has received the honor for the fourth year in a row.
FinancialsAug 15, 2025
In Q2 Results, Pandora Talks Tariffs, Q4 Plans The company had a solid second quarter, with sales of non-charm jewelry outpacing sales of pieces in its core collections.
EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in ManufacturerIts investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.
MajorsAug 15, 2025
Rio Grande Names New Marketing DirectorNicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
SourcingAug 13, 2025
ICA Names 2025 Board of DirectorsThe board elected 9 new directors at its recent ICA Congress in Brazil.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRFJD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, RubiesThe new inventory, all untreated, features vibrant hues and unique bicolor combinations.
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
