Vol 2.10 "Over The Rainbow" October 10, 2003

It’s 10:55 AM on October 10th. Wow! Can you believe it’s already
October? Next month is Thanksgiving and we’re only a couple of months from
the holiday season. It seems the older I get, the faster time seems to fly
by. My routine is pretty well slated. I go home, have a bite to eat, play a
little chess, watch a recorded broadcast of ABC World News Tonight and ask my
wife, ‘What’s on the boob tube tonight?’ If I’m lucky, I get The West Wing,
Nip & Tuck, Friends (Hey! It’s their last season! Admit it, don’t you want to
see Rachel and Ross end up together?), Survivor (watching people starve
themselves to death on purpose while I down a Moon Pie and a glass of milk
always brings me great joy), and E.R. (always wanted to be a doctor). If
nothing’s on, I crack open a good book, (loved ‘DaVinci Code’, by the way and
I’m fascinated by Bill Bryson’s ‘A Short History of Nearly Everything.’ Did
you know in 1675, German Hennig Brand attempted to distill urine into gold
only to discover phosphorus?) Anyway, yesterday Newsweek called and had a few
Q’s on how naturally colored diamonds are created and which ones are the
priciest. Here’s a sneak peak at what I sent them.

OVER THE RAINBOW
By Fred Cuellar

Colored diamonds are created the exact same way that colorless diamonds are
created'”under high temperature and pressure. The difference in the creation
of the world’s most valuable commodity is different for each color of the
rainbow.

Yellow Diamonds‘”aka ‘canaries.’ Mother Nature’s addition of nitrogen atoms
sprinkled into the diamonds lattice (approximately 100 nitrogen atoms per
1,000,000 carbon atoms)can cause the yellow color. That, combined with
turning up the furnace to temperatures of over 1400 degrees Celsius, agitates
the nitrogen atoms in such a way that they dance around the interior of the
crystal forming groups which alters the color from colorless to yellow. A top
of the line canary yellow diamond can easily run $30,000 per carat.

Pink Diamonds‘”Pink diamonds have been around for hundreds of years dating back
before the 15th century. However, their presence seemed imperceptible due to
their scarcity. It wasn’t until the opening of the Argyle Diamond Mine in
Australia (1980’s) that there was a sufficient supply to market them on a
world-wide scale. The color of a pink (and red) diamond is due to a
microscopic imperfection at the atomic level. No trace ingredient here, but
rather an irregular growth pattern at a sub-molecular level. Fancy pink
diamonds typically go for $100,000 per carat, with deep pinks easily running
the gamut to over $250,000 per carat.

Blue Diamonds‘”The secret ingredient behind some of the world’s most renowned
diamonds, like the Hope Diamond in Washington D.C.’s Smithsonian Institute, is
boron. Just as nitrogen was stirred into the mix of the canary, boron gas
turns the white snow cone blue. Blue diamonds are one of the rarest colors of
the rainbow, fetching prices from $100,000 per carat to $554,670 per carat, as
was paid for a 13.49 carat fancy deep blue at auction in April, 1995.

Green Diamonds‘”As we continue to climb the scale of the world’s most valuable
colored diamonds, we find green coming in second place. With prices that
range from $500,000 per carat to $750,000 per carat, green diamonds owe their
beautiful color to high energy gamma or neutron radiation, not alpha or beta.
The ‘Ocean Dream,’ a 5.51 carat modified triangular brilliant by Cora Diamonds
Corporation is a classic example of the magnificence of Mother Nature on a
good day. Note: Green diamonds were used on a spectacular production scale
when the Dallas Stars hockey organization used them in their NHL Stanley Cup
rings manufactured by Diamond Cutters International.

Red Diamonds‘”Red diamonds are atop the food chain when it comes to the world’s
most expensive bauble. Ranging upwards to $1milllion per carat, (‘The Hancock
Red’ set a world’s record of $926,316 per carat) these rocks aren’t for the
light of wallet or the impatient. Like the pinks, their atomic structure is
imperfect. But, thank goodness, if nature hadn’t gone amok, we wouldn’t have
the handful of samples available to study. There are currently clients that
have been waiting over 15 years in line to get the next red when it hits the
market.

Today, the biggest sellers are the yellows'”from light fancy to fancy vivid in
color. Pinks and blues are in hot pursuit with clients ranging from rap
singers like P. Diddy to Jennifer Lopez. In this town, its one thing to have
the new pastel Louis Vuitton hand bag; it’s quite another to have the matching
ring to go with it!

The founder and president of Diamond Cutters International, is one of the worlds top diamond experts, as well as a three-time Guinness Book record holder in jewelry design.
Fred The Diamond Guy
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