CrimeAug 06, 2026
Lalique Museum to Remain Closed Following $5M HeistMuseum officials are looking to the public to help cover the “exceptional” costs involved in recovering from the July 5 smash-and-grab.
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
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 BulletinAug 06, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 06, 2026
Claire’s Revamps Piercing Services for Second Time in Three Years The overhaul includes enhanced employee safety training and trendy earring styles, including lab-grown diamond studs.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
FinancialsAug 06, 2026
Brilliant Earth’s Q2 Sales Up 6%, Driven by High-Income ShoppersThe retailer said it had its biggest Mother’s Day ever, with strong demand for higher-priced jewelry.
Weekly QuizAug 06, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsAug 06, 2026
New Book on Handcrafted American Objects Highlights Jewelry“Handwork: Handcrafted Objects that Made America” features historic and contemporary works, including a Diné squash blossom necklace.
MajorsAug 06, 2026
AJA East Coast Names Ani Khachian as First Female President-ElectThe Armenian Jewelers Association’s East Coast chapter has also elected its 2026–2027 board of directors.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
MajorsAug 05, 2026
Private Equity Firm Wants to Buy 100+ JCPenney StoresOnyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.
IndependentsAug 05, 2026
Atlanta Jeweler Introduces $10K MartiniSolomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.
IndependentsAug 05, 2026
Another Member of the Siegel Family Joins Hamilton Jewelers Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.
MajorsAug 05, 2026
Bulgari Opens Store in San DiegoThe new space features a modern design that blends Bulgari’s Roman heritage with San Diego’s coastal spirit.
CrimeAug 04, 2026
Crew of Thieves Break Into Indiana Jeweler’s HomeFour men were charged in connection with the break-in and accused of stealing $365,000 in cash, jewelry, and designer goods.
MajorsAug 04, 2026
Pandora Hires Former Signet Board Member to Lead North American MarketAndré Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.
MajorsAug 04, 2026
Sasha Primak Acquires GemlokNew York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.
CollectionsAug 04, 2026
Musician Carlos Santana Launches Jewelry BrandSantana Now's debut collection, “Unidad,” features symbolic motifs as well as pieces of wood from the Woodstock stage.
CrimeAug 03, 2026
Florida Man Gets 15 Years in Trio of Jewelry Store RobberiesThe 50-year-old man pleaded guilty earlier this year to robbing two jewelry stores and a pawn shop of more than $700,000 in merchandise.
WatchesAug 03, 2026
Citizen's New Spider-Man Watch Is a Collector’s DreamThe watch’s dial features an original design by Marvel comics illustrator Adam Kubert.
CollectionsAug 03, 2026
Chatham Releases First Men’s CollectionThe new collection of lab-grown diamond and colored gemstone jewelry provides a “fresh perspective” on the category, Chatham said.
TrendsAug 03, 2026
Amanda’s Style File: Spinel vs. Peridot While some August babies are team peridot, the month's time-honored birthstone, others are team spinel, the newer alternative.
TrendsJul 31, 2026
These Pieces of the Week Are Sweet Edina Kiss’ “Popsicle” pendant and Karina Choudhrie’s “Ice Cream” charm satisfy that summer craving for a sweet piece of jewelry.
MajorsJul 31, 2026
Macy’s Iconic Red Shopping Bag Sign Torn DownThe massive billboard has been in the same spot on the department store’s Herald Square flagship store for decades.
Policies & IssuesJul 30, 2026
JA Heads Back to Washington as New Wave of Tariffs Takes Effect David Bonaparte, along with Tim Haake and Ronnie VanderLinden, continue to lobby for tariff exemptions for diamonds, gemstones, and pearls.
SurveysJul 30, 2026
Consumer Confidence Slips in JulySurvey respondents were concerned about the rising prices of food and groceries as well as unemployment.
Events & AwardsJul 30, 2026
Vicenzaoro Releases 2026 Education LineupThe trade show, slated for Sept. 4-8 in Vicenza, Italy, will feature sessions on trends, AI, gemology, and manufacturing.
Events & AwardsJul 30, 2026
Hillsborough Show Moves to New Location for 2026The public shopping event featuring art, jewelry, watches, and rare collectibles, will take place in Santa Clara, California, this fall.
EditorsJul 29, 2026
Q&A: The Past and Future of Angola’s Diamond Industry Endiama Commercial Director Elton Escrivão knows people have a lot of misperceptions about Angola. He wants to change that.
