AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
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
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
AuctionsMay 14, 2026
‘Ocean Dream’ Makes Waves at Christie’s, Fetching $17MIt was the second auction appearance for the fancy vivid blue-green diamond, which sold for $7.8 million at Christie’s Geneva 12 years ago.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
CrimeMay 14, 2026
Second Man Arrested in Florida Pawn Shop Shooting Members of the U.S. Marshals Task Force took a 22-year-old man into custody. He was charged with tampering with evidence.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
TrendsMay 13, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
IndependentsMay 12, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
TrendsMay 11, 2026
Former Macy’s CEO Joins Signet Jewelers BoardJeffrey Gennette, who retired in 2024 after 41 years with Macy’s, is the newest member of the jewelry retailer’s board of directors.
TrendsMay 11, 2026
Amanda’s Style File: Lucky May May babies are lucky to have emeralds, a gemstone admired for centuries, as their birthstone, writes Amanda Gizzi.
TechnologyMay 11, 2026
Clientbook’s New Tool Helps Jewelers Plan In-Store EventsThe new module allows retailers to plan, promote, and measure the success of events from a single dashboard.
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
FinancialsMay 07, 2026
Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
SourcingMay 06, 2026
Canada’s Oldest Diamond Mine Faces Uncertain FutureThe owner of the Ekati mine, which opened in 1998, has filed for insolvency protection amid the significant decline in diamond prices.
