‘Impossibly Rare’ Violet Diamond Could Fetch $5 Million or More

Described as “impossibly rare” and “a complete fluke of nature,” the largest violet diamond ever found at Australia’s Argyle mine could sell for $5 million or more.

violet3

The 2.83-carat polished oval-shaped diamond, known as The Argyle Violet, will headline the 2016 Argyle Pink Diamonds Tender, the annual showcase of the rarest diamonds from the Argyle mine in Western Australia.

The Rio Tinto-owned mine generates more than 90% of the world’s pink diamonds, and on rare occasion will yield a violet stone. In the past 32 years, Argyle has produced only 12 carats of polished violet diamonds for its annual tender. In fact, before the discovery of The Argyle Violet, the mine had delivered just one other 1-carat-plus violet-colored diamond — and that was in 2008.

violet2

The Argyle Violet is “a complete fluke of nature,” Josephine Archer from Argyle Pink Diamonds told Yahoo7 News.

Rio Tinto’s general manager of sales Patrick Coppens added, “Impossibly rare and limited by nature, The Argyle Violet will be highly sought after for its beauty, size and provenance.”

violet1

Argyle’s master polisher Richard How Kim Kam worked for more than 80 hours cutting the 9.17-carat oddly-shaped rough diamond into its perfectly symmetrical final form. More than 69% of the diamond’s weight was lost during the cutting process.

The Argyle Violet was assessed a color grade of “Fancy Deep Greyish Bluish Violet” by the Gemological Institute of America. Violet diamonds owe their unique color to the presence of hydrogen atoms in the chemical composition of the stone.

Experts believe The Argyle Violet is sure to attract offers of $1 million to $2 million per carat at Argyle’s annual tender. That would put its selling price somewhere between $2.8 million and $5.6 million.

Argyle Pink Diamonds manager Josephine Johnson said, “We are very excited to announce this historic diamond ahead of our Tender launch. This stunning violet diamond will capture the imagination of the world’s leading collectors and connoisseurs.”

Credits: Images courtesy of Rio Tinto.

Jewelry Remains the Top Gift-Giving Category for Mother’s Day; Spending to Exceed $4.2 Billion

Americans will be spending more than $4.2 billion on jewelry gifts for their moms this Mother’s Day, according to survey results just released by the National Retail Federation. That dollar amount places “jewelry” at the top of all gift categories — a place it has occupied for four of the past five years.

Adult daughter giving to her mother gift for Mother's Day while

The survey revealed that 35.4% of adults have jewelry on their Mother’s Day shopping lists this year, up from 34.2% in 2015 and 31.7% in 2014. Nearly four in 10 men (39.2%) plan to purchase a jewelry item for the special moms in their world, while 31.7% of woman plan to do the same.

The average cost of a Mother’s Day jewelry gift will be $95.71, with men expecting to spend $117.79 and women $69.82.

Total Mother’s Day gift spending is expected to reach $21.4 billion in 2016, up slightly from $21.2 billion in 2015. Overall, men will spend $197.77 on Mother’s Day gifts this year, while women will spend $147.99.

While jewelry remains to top category in terms of dollars spent, other strong categories include “special outings” ($4.1 billion), flowers ($2.4 billion), gift cards ($2.2 billion), consumer electronics ($1.9 billion), apparel ($1.9 billion) and personal services, such as spa treatments ($1.6 billion).

Mother’s Day greeting cards are still a gifting staple, with 78% of consumers reporting that they will buy a card for their moms. Total spending on cards will reach $792 million in 2016, according to the NRF.

The biggest spenders this Mother’s Day are expected to be 25- to 34-year-olds ($248.88). Their 18- to 24-year-old counterparts plan to spend an average of $188.87.

Mother’s Day continues to draw wide interest and participation across all demographic groups. Overall, 84.4% of adults surveyed said they would be celebrating Mother’s Day in 2016. That participation rate grows to about 95% for adults 18 to 34.

“Mother’s Day is the time when millions of Americans find special ways to express their love and gratitude for Mom,” said analyst Pam Goodfellow of Prosper Insights & Analytics, which conducted the survey of 7,000 consumers for the NRF. “While many will spend a little more than usual to pamper her, some consumers will provide unique experience gifts for the entire family to enjoy together.”

Don’t forget: Mother’s Day is this Sunday, May 8!

Image: Bigstockphoto.com

40 Contestants Pounce on 800-Pound Wedding Cake to Find the $2K Diamond Engagement Ring Baked Inside

Decked out in their “Star 98 Diamond Dive” T-shirts, 40 wildly enthusiastic contestants pounced on a 6-foot-tall, 800-pound wedding cake to try to find a $2,000 diamond engagement ring that was baked inside.

cake1

They destroyed the cake in a matter of seconds as onlookers at the Grand Teton Mall in Idaho Falls, Idaho, this past Saturday watched in amazement. A video of the event shows the cake being enveloped by a sea of humanity.

cake2

The 2nd Annual Diamond Dive was sponsored by local radio station Star 98 in conjunction with a local baker, who designed the cake, and a local jeweler, who provided the jewelry. In all, 16 rings were hidden in the cake, 15 of which were non-precious and represented other prizes. The grand prize was a genuine .50-carat princess-cut diamond engagement ring.

cake3

In order to qualify for the Diamond Dive, listeners of Star 98 had to call the station at designated times, starting on April 18. Forty people were eventually selected to participate in the messy, no-holds-barred cake-diving event.

cake6

To make the massive cake, the baker’s team had to use 165 cake mixes, 54 dozen eggs, 192 pounds of sugar, 72 pounds of shortening and a quart of cake flavoring.

cake4

As the excitement unfolded on Saturday, the only person who knew the exact location of the diamond ring was the baker.

cake5

As if describing an Olympic event, Star 98 program manager Preston Lee joked to Local News 8, “So these are dedicated people. They’ve been training. They’ve been warming up for the past few years. Now, all that training is coming together for one moment, for the diamond dive.”

All 16 rings were found within 15 minutes, and emerging victorious with the genuine engagement ring was Nick Musetti, who admitted he didn’t have a significant other.

“I’m thinking about selling it because I don’t have anyone to give it to,” he lamented.

Check out the fun video below…

Images: Screen captures via YouTube; Facebook/Sugar Shell; Facebook/Star 98.