Company Claims to Have Produced 5 Carat Synthetic Diamond

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A Russian laboratory-grown diamond manufacturer, New Diamond Technology, is claiming it has produced a 5.11-ct diamond, the largest man-made, polished, near-colorless stone ever produced.

Synthetic-diamondAccording to the manufacturer, the unenhanced radiant-cut type ‘IIa’ diamond, produced by the high-pressure, high temperature method (HPHT) bears a K SI grade but hasn’t yet been sent to a lab.

This process is called Microwave Plasma Chemical Vapor Deposition, where carbon atoms are layered on top of an initial diamond ‘seed,’ fast-tracking a natural process lasting many millennia to a matter of months. And because these stones are lab-made, they’re good for the environment and are free of the ‘blood diamonds’ stigma that’s so tainted their traditionally-mined counterparts.

Diamond Experts familiar with diamond growing, say that it is an impressive achievement, but wondered whether it could be repeatable and also questioned what the stone would fetch commercially.

New Diamond Technology says it has a “new approach” that allows it to produce lab-grown gems with higher colors and clarity from its factories in Russia and Hong Kong. It said that it can produce gems ranging from 4 to 11 carats.

Company President Tamazi Khikhinashvili says that their diamonds are “more affordable” as compared to natural diamonds. He says the company has sold lab-grown gems to customers in Europe, Asia, and the United States.

Elizabeth Taylor’s Trust Sues Christie’s

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Elizabeth Taylor’s estate is suing Christie’s, the auction house, over the $8.8 sale of the “TajMahal” diamond, a gift to the late actress from Richard Burton on her 40th birthday.

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The TajMahal diamond was sold by Christie’s along with the rest of Taylor’s jewels and wardrobe in New York following her death in 2011. The collection, which was dubbed the “Crown Jewels of Hollywood,” broke all expectations and brought in $183.5 million to benefit the Elizabeth Taylor AIDS Foundation.

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But the trustees of her estate have now filed a complaint alleging breach of contract.They claim the anonymous buyer of the TajMahal diamond returned it months after determining that it actually does not belong to the wife of a 17th century Mughal emperor.

According to the complaint auction house had only stated that the diamond was of Indian origin, but it still agreed to cancel the sale. Christie’s then requested that the estate return the proceeds of the sale.

Christie’s violated its own policies when it rescinded the sale, the trustee’s complaint states. “Despite facing no credible threat of legal liability, Christie’s nonetheless rescinded the sale of the diamond. In doing so, Christie’s not only deviated from its usual business practices and its own established policies, but it violated its obligations to the trust, all in an effort to appease the buyer.”

Taylor’s trustees claimed the auction house also refused to pass on $3 million from the sale of another gem called the Bulgari Ring.They said: “(Christie’s) failed to pay the trust the proceeds from the sale of the Bulgari ring in an attempt to strong arm the trust into returning the proceeds that the trust rightfully received from the sale of the TajMahal diamond.”

In a statement Christie’s said: “Christie’s was pleased to create a landmark auction event on behalf of the Elizabeth Taylor Trust that produced over $183.5 million in proceeds for the beneficiaries of the trust – the friends and family of Elizabeth Taylor.This suit stems from Christie’s seeking the return of a small portion of these proceeds due to the cancellation of a single item from that sale, and Christie’s looks forward to a speedy resolution of this matter.”

Yet another find at Crater of Diamond State Park, 2.01 Ct. Yellow Diamond found

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Crater of Diamond State Park is 911 acre Arkansas State Park in Pike County, Arkansas. Out of this 37.5 acre which is world’s only diamond bearing site open to public. More than 75,000 diamonds have been discovered in the field since 1906 which includes worlds only perfect diamond discovered, the Strawn-Wagner Diamond.

Dean Filppula holding his two-carat diamond (Photo: Crater of Diamonds State Park)

Dean Filppula holding his two-carat diamond (Photo: Crater of Diamonds State Park)

It was a lucky day for Mr. Dean Filppula, an offshore steward from Shreveport, LA who visited the park during vacation after a rainstorm. He found “wedge-shaped light yellow stone about the size of an English pea” in the West Drain area of the park. He is calling this 2.01 Ct diamond after his mother’s initials as “Merf Diamond”.

Park interpreter Wayman Cox says Mr. Filppula was at right place at right time. It rained heavily before his visit, which washed loose soil from surface uncovering the large yellow gem. His store is very familiar to many visitors in past who have found diamonds.

Mr. Filppula found his 20th diamond, but it is largest one found so far in 2015. He is planning to sell the diamond.