Some Of The Biggest Diamond Events of 2012

Diamonds are supposed to be forever, but the reality is that economic and environmental factors influence their presence in our lives. 2012 was a year that was punctuated with jewelry highs and lows, but trade experts agree that it was an exciting year indeed for the business and for people who simply love jewelry. Let’s take a look at some of the more significant diamond and gemstone events of the past year.

The Hong Kong Jewellery and Gem Fair

If there is anything that 2012 showed to the world, it’s that Asiahas firmly established itself as a formidable force in the jewelry industry. Hong Kong had this annual jewelry and gem fair in September, and guests were pleased to find the A-Zs of precious stones (from amber to zircon) were available on display. Chinastands at the forefront of this boom in the jewelry trade given its economic growth, but other Asian nations such as Indonesiaand Indiahave also contributed to satisfying results in the region’s trade shows and fairs. Many economists attribute this to the swelling of the middle class in many Asian countries, and the resulting desire to accumulate luxury items as investment.

Hong Kong has always been a busy place for the jewelry trade because of its lenient duty regulations. The result is that serious jewelry shoppers go to Hong Kongto get the best value for their money, and jewelry trade shows offer the best opportunities to do so.    

In April of 2012, Christie’s held its “Magnificent Jewels” auction. Easily one of the most anticipated jewelry auctions, many collectors had their sights set on a remarkable stone dubbed “the Perfect Diamond”. The Clark Pink, a very rare and valuable 9-carat pink diamond set in a ring, has been hidden away in a bank vault since the 1940s and was included only last year in a Clarkfamily estate sale. It was part of the collection of the family’s heiress along with 16 other jewelry pieces, which were speculated to fetch no less than $12 million.    

Discovery of “The Diamond Planet”

Science fiction made it possible for us to suspend our disbelief and dream of planets made of platinum, gold, and diamonds. Last year, the discovery of 55 Cancri, a planet twice the size of our own and with perfect conditions for creating diamonds, made these dreams more probable to realize. The planet’s chemical makeup includes surface temperatures of up to 2,150 degrees Celsius and an abundance of diamond’s most important ingredient: carbon. While this discovery may not necessarily make a significant impact in the jewelry industry, scientists are nevertheless excited over the possibility of an entire planetary system that is carbon-rich, unlike ours. (Also, further studies on 55 Cancri can contribute to the study on synthetic diamonds).

The unexpected appeal of non-traditional engagement rings and wedding bands

                         
Round emerald and diamond engagement ring on white gold from Brilliance

Diamonds on engagement rings and wedding bands held sway for many decades. Last year, however, couples became more emboldened to wear colored gemstones denoting birthdays, anniversaries, and other special dates on their bridal finger bling. Reasons ranged from sentimental (birthstones have their own meaning and traits) to practical (engagement and wedding anniversaries are easier to remember with colored stones). 2012 definitely saw plenty of non-traditional rings on brides and engaged couples. The trend was mostly evident in diamond and birthstone combinations, but there were also a lot of rings which used colored gems as the central stone.

Guest author Sharon Sussman is currently the Director of Products at Brilliance, a jewelry company which specializes in certified loose diamonds, engagement rings and custom-made jewelry. A graduate of Touro College, she is also a gemologist and jeweler whose articles and advice columns have been published on notable fashion and finance blogs and sites. She can also be found on Google + and can be reached at sharon.sussman@brilliance.com.