The
leaders of Israel’s diamond trade have been trying hard of late to showcase and
develop the nation’s prowess in cutting larger stones. It was therefore
unsurprising that the Israel Diamond Institute (IDI) proudly announced in
November that local workers had received a sizable piece of rough for
processing. Less expected was that the gem in question would be the 813-carat
Constellation, the most expensive rough diamond in history.
Yoram Dvash, the president of
the Israel Diamond Exchange (IDE), posted a photograph on social media of
himself holding the rough, attracting gushing admiration from his followers.
“Having the Constellation
diamond brought to Israel for laser-cutting highlights Israel’s role as the
global technology capital of the diamond industry,” Dvash said. “This is the
diamond exchange we strive for — innovative, creative and energetic.”
Winning the right to saw the
mega-stone will certainly help support Israel’s claim as a center for both
high-end rough cutting and diamond technology, at a time when the country’s
future in polishing as a whole is frequently a subject of speculation.
‘Cutting-edge’
dispute
The
diamond came to Israel — specifically to specialist company Diamond Laser
Systems — because the bourse has Synova’s Diamond Cutting Systems (DCS)
machine, an advanced piece of equipment that uses the Swiss company’s Laser
MicroJet (LMJ) technology to slice stones.
However, while the IDI
claimed Israel’s LMJ facility was the “most technologically advanced
worldwide,” and that the team operating it had “unsurpassed expertise,” peers
in Dubai did not see things in quite the same way.
The laser-cutting, the first
stage of the manufacturing process, “could have been done in Dubai or Antwerp,
two cities on par with Tel Aviv in terms of technology and know-how,” said
Konema Mwenenge, CEO of Dubai-based Nemesis International, which paid Lucara
Diamond Corp. a record $63.1 million in 2016 for the Constellation in
partnership with Swiss jeweler de Grisogono.
Dubai has a Synova, too — the
machine is by no means rare — but it only arrived in October, explained Filip
Hendrickx, manager of Almas Diamond Services in Dubai, which will polish the
diamond at its Nemesis-funded factory. Professionals generally put the machine
through its paces on low-quality diamonds, known as borts, and subsequently
move on to small gem diamonds before letting the laser loose on a famous
800-carater.
Risk
vs. reward
The
risk of cutting such a stone may be high, but so is the potential reward. The
Constellation is estimated to contain two D-color, flawless polished stones
weighing 325 carats and 100 carats respectively, the IDI said.
Almas was slightly less
optimistic, predicting a yield of about 50% for the two main stones — meaning
marginally more than 400 carats of polished outcome. He estimated a total of
about 10 stones. Nemesis said it was too early to know for sure what polished
result to expect, and that it was analyzing options.
As for the impact of such an
international project as the Constellation, anyone who thought the work-share
between Israel and the United Arab Emirates was a sign of improved relations
may be showing misplaced hope. Since Dubai has banned imports of Israeli goods,
the diamond cannot go straight to Dubai; it will have to get there via
somewhere else.
Even so, having the diamond
cut in Israel could give a boost to a diamond-cutting sector that has suffered
a continual existential crisis. No wonder the IDI took the opportunity to make
this known.
Article from the Rapaport Magazine - December 2017. To subscribe click here.