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Toronto, Ontario Mercantile Diamond Group Inc. has released Colored Diamond Analyst Volume 1, No 17

(EMAILWIRE.COM, September 26, 2009 ) Mercantile Diamond Group
Colored Diamond Analyst
Volume 1, No. 17

GREEN DIAMONDS
Excerpt from “Fancy Color Diamonds” by Harvey Harris

Other than Red, one of the rarest of colored diamonds is a Natural Green diamond with no secondary overtone. Because green diamonds obtain their color from natural radiation in the ground and radiation is used to artificially color diamonds, it can be very difficult for a laboratory to certify a green diamond as Natural. In most cases, it is necessary for the cutter to leave an uncut facet on a green diamond. The presence of surface and subsurface characteristics, such as brown or green radiation stains (caused only by natural irradiation and annealing) are indications of natural green body color. This is used by the laboratory to identify the diamond as being naturally colored. The green color is caused by exposure of the crystal to natural irradiation in the earth. At some point it has come in close contact with radioactive liquids or material, such as uranium ore. The high-energy particles must bombard and penetrate the diamond’s lattice, causing defects that act as absorbing color centers and turn exposed areas green. This is why the color is only a few micrometers deep, confined to the (sub)surface of the stone, usually in patches or “skins”. Perhaps the most famous of all Green diamonds is the Dresden Green.
The Dresden Green, which probably weighed over 100 (old) carats in its rough form, is unique among famous diamonds. It was originally an elongated unbroken stone, since greenish diamonds rarely occur as cleavages. The Dresden gets its name from the capitol of Saxony where it has been on display for more than 200 years.
When looking at pure green diamonds from a collecting standpoint, one should have quite deep pockets as only a handful of pure green diamonds have been given a natural grading by the GIA. Prices can be in the hundreds of thousands per carat at auction (See Auction Results on back page). Green diamonds with a modifying color such as yellow, or unique stones such as Chameleons that actually change color, are still approachable as a longer term investment.


CHAMELEON GREEN DIAMONDS
A PHENOMENON!

A phenomenal gemstone exhibits unusual optical characteristics naturally, without laboratory enhancement. The mineral world is full of such examples, and not all of them are rare. In the case of diamonds known in the trade as “Chameleons” – certain natural green diamonds react to heat or dark storage by temporarily changing color, often becoming bright yellow. This color change is short-lived as the diamond soon reverts to its original, stable color. Most specimens observed in gem laboratories show even color distribution, aiding in the dramatic transformation, and both color changes are documented on laboratory reports. Faceted Chameleon Diamonds of 2 carats or more occasionally appear on the market; the more sizable stones offer the maximum opportunity to see color change.
A phenomenal color-change diamond is such a rare and curious gem that little has been written on the subject. The first documented report on Chameleons appeared in 1943, according to the GIA Diamond Dictionary. ItÂ’s no wonder then that, some 35 years ago, while working at Lazare Kaplan, Peter Kaplan, was astonished to witness a diamond change color on the very hot polishing wheel. That peculiar diamond was later graded Light Yellow Green. It sold, but the baffled customer promptly returned it for a refund when the Yellow-Green diamond changed to Dark Green after storage in a jewel box.

HOW IT OCCURS
An article in Gems & Gemology, Spring 2005, acknowledged that “… the mechanism of chameleon coloration is not yet well understood. Nevertheless, Chameleons are among the few Green diamonds that can be conclusively identified as having natural color, since their behavior cannot be created or enhanced in a laboratory.” Chameleon Diamonds always possess certificates attesting to their natural characteristics. One such report by Gubelin Gem Lab, Lucerne, Switzerland, added “Chameleon Diamonds are one of the great mysteries of the diamond world. It is not known why these diamonds change from Deep Green to Yellow when heated or left in darkness Â… these qualities make ‘ChameleonsÂ’ among the most fascinating of colored diamonds.” A rare subset of natural fancy color diamonds, Chameleons are so named for their repeatable color-change property. Prolonged dark storage, or photochroism, changes a “Classic” Chameleon from its typically stable color of Grayish-Yellow-Green to a temporary or unstable color such as Greenish-Orangish-Yellow. A few hours of dark storage might be all that is needed to bring on a color change. Also, heating a classic Chameleon, termed thermochromism, likewise results in a prominent temporary color change. At about 150C, the induced color should be evident within a few seconds. The term “Reverse” Chameleon refers to phenomenal diamonds that change from Yellow in stable conditions to Green after subjection to dark storage. Heating does not produce a color change in Reverse Chameleons. With both groups, the change is infinitely repeatable.

Rarer still are some “maverick” color-changed diamonds that have been found in Australia that exhibit this phenomenon with their own unique pair of colors. Australia’s Argyle diamond mine, famous for its Fancy Pink Diamonds, occasionally produces hydrogen-rich diamonds that also exhibit a “chameleon-like” color-change behavior. The stones are distinguished by either a Blue-Violet-Gray color or a Gray-Olive Color. They are thought to owe their color change qualities to high hydrogen content, but this has yet to be proven.

PHYSICAL ATTRIBUTES
In an era fascinated with color diamonds, the Chameleon possesses unparalleled physical properties. It is, in fact, the rarest in nature of all color diamonds, with a unique characteristic that jewelry lovers never ever dreamed existed. One has to wonder how many Chameleon Diamonds have, in the past, slipped through a merchantÂ’s hands, dismissed as merely an odd-color diamond. In fact, many jewelers will go through their entire lifetime without ever seeing a Chameleon diamond.
Until recently, the appeal of the elusive Chameleon diamond was, for the most part, limited to the connoisseur collector. For this reason, Christie’s, New York sends its best auction color-change diamonds to Hong Kong, because, according to Daphne Lingon, Senior Vice President, Jewelry Department, “The Asian market is well-informed about phenomenal gems, which are avidly collected.”
For example, during Christie’s Magnificent Jewelry & Jadeite Jewelry Hong Kong auction in May 2001, a platinum ring featuring a 4.41- carat “superb Fancy Dark-Gray-Green Diamond” went on the block. When the hammer came down for the last time, the Chameleon ring fetched a stellar 1,915,000 Hong Kong dollars, roughly $240,000 or more than $54,000 per carat!


MARKETABILITY
Years ago, Chameleon Diamonds were hidden away and kept un-mounted so collectors could enjoy conducting their own experiments. That, of course, contributed to a lack of familiarity within the retail diamond world about this oddity. Understanding the color change situation gives rise to the quandary of how to properly value these gems, and that, in turn, stymies an appraiser who takes on the arduous task of researching Chameleon Diamonds. Nevertheless, collectors appreciate the difficulty involved in establishing a value on a gem without peer.
Celebrities on the red carpet wearing naturally colored diamonds have increased awareness of natureÂ’s rarest gemstones among consumers in general. But, as with almost all colored diamonds, in the end, supply and demand dictates what a willing purchaser will pay a willing seller. That has always been the best indicator of true value. For a number of years now, worldwide demand for a finite supply of colored diamonds has been escalating. This, in turn, has fueled double digit increases in prices at the dealer level.
Few diamond admirers, however, can afford any colored diamond in large carats; add the phenomenon of color change to the equation and the list dwindles to a handful. Imaginative designers recognize the potential of featuring Chameleon Diamonds in luxury goods. ItÂ’s not uncommon for a designer to place great emphasis on creating the ideal presentation for a color-change diamond.
An example is the diamond ring pictured on previous page. Originally set in an intricate mounting called “Guyana,” designer Hanan Savransky of Savransky Jewelry Designs, Ramat Gan, Israel, rethought the presentation of this stunning stone. He remounted the 1.51-carat oval, Light Green to Light Yellow Chameleon into his more classically tailored “Isabella” setting, (selling for $45,500) where the stone now takes centre stage.
Should color-change diamonds become more readily understood and available, theyÂ’re destined to earn the following they deserve here and abroad.

UNIQUE NEON YELLOW GREEN COLORED DIAMONDS

The unique properties of Natural colored diamonds have been well documented over the years. Some are formed by the addition of hydrogen or nitrogen molecules (yellow), others from the exposure over millions of years to low grade radiation (green) while still others such as Chameleon, Pink and Red are “theory” only situations. We are not 100% certain exactly how they are formed.
This past winter we were offered a small group of the most unique stones we have seen in some time! The stones are a lime green color, blending a minor yellow modifier with apple green. Yellow Green diamonds have infrequently been seen before in the market. One stone that comes to mind was a 1.55 carat Vivid Yellowish Green that sold at auction in New York a few years ago for in excess of $550,000 per carat! These new stones are lighter in color, almost pastel Apple Green, but the fire and brilliance of these stones are breathtaking! The Neon Green fluorescent color is visually striking and unusually strong! The wealth accumulation potential of these stones may be more than significant!
We will be gradually introducing these Neon Green diamonds to the private client market this year. With the price of Pink, Blue, Purple and Red diamonds now heading into the stratosphere, these unique, Neon Green diamonds are a bargain and belong in every serious portfolio!





Mercantile Diamond Group Inc.
David Metcalfe
416-679-1550
info@mercantilediamondgroup.com

Source: EmailWire.com

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