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Planning to give someone a diamond for Valentine's Day? (flaivoloka via stock.xchng)

While budgeting remains a priority in the new year, consumers continue to celebrate holidays, birthdays and anniversaries with gifts of jewelry. And with around 10 percent of engagements occurring on or around Valentine’s Day, the most romantic holiday of the year sees a fair share of diamonds and colored gemstones.

Valentine’s Day has worldwide appeal, and the practice of gift giving is celebrated in Australia, Britain, China, Ghana, India, South Africa and more. In Mexico, heart-shaped and red-themed gifts appear immediately after the Christmas holiday. Japanese women bestow small gifts such as chocolate on Valentine’s Day; the men return the favor a month later on White Day by handing out jewelry and other gifts to loved ones.

GIA (Gemological Institute of America), recognized as a worldwide leader in diamonds, gemstones and pearls and the creator of the famous 4Cs (Color, Cut, Clarity and Carat weight), as well as the International Diamond Grading System™, has six tips to help consumers find their ideal piece of diamond jewelry.

The GIA are world-renowned experts in diamonds (IDI)

Do the research: Familiarity with the 4Cs of diamond quality is a crucial element in speaking the language of diamonds. A recommended starting point for learning about the 4Cs is GIA’s iPad application (app), which helps educate consumers on diamonds, and is downloadable for free on iTunes. The app is also available in Simplified Chinese.

Choose a qualified jeweler: Consumers should select a jeweler as carefully as they would a doctor, lawyer or any other trained professional. Find someone who is credentialed, such as a GIA Graduate Gemologist. Take note of their affiliations with jewelry industry groups and professional associations.

Ask for an independent diamond grading report: A diamond grading report details the gemological quality of the diamond. It tells whether the stone is natural or synthetic, if it has been treated - and how, and its quality rankings in each of the 4Cs. Verification of information contained in any GIA diamond grading report can be attained by going to Report Check, GIA’s secure online database, or by accessing it directly through the GIA 4Cs app.

Keep the purchase secure: Have the diamond appraised and insured. A diamond grading report is the independent assessment of quality; while an appraisal gives a monetary value. A personal message or the report number can be laser-inscribed on the diamond’s outer edge, called the girdle, to help identify it if it’s ever lost or stolen.

Purchase the stone loose and have the ring set later: If someone is unsure what their future fiancé prefers in a ring, one option is to purchase a loose diamond and decide on the mounting together later. Make sure to have the loose stone graded.

Consider the alternatives: Colored gemstones and pearls make unique and memorable alternatives for celebrating special occasions. With the union of the Duke and Duchess of Cambridge, and celebrities such as Penelope Cruz, Jessica Simpson and Carrie Underwood, colored gemstones are increasingly popular in the engagement ring world. Consumers should look for independent reports for colored gemstones and pearls, also available through GIA.

A gift of jewelry is an outward expression of what people mean to one another. Consumers can ensure they receive the most value for their purchase by learning more about diamonds at www.gia.edu.

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Queen Elizabeth II marks her ascension to the throne on February 6 (Agencia Brasil)

In honor of Queen Elizabeth II’s Diamond Jubilee, the Jersey Post has created a limited-edition diamond stamp.

According to the Jersey Post website, only 600 of the Queen’s Diamond Jubilee-Accession stamp have been created, and will be issued on February 6 – the 60th anniversary of the Queen’s accession.

Each stamp features a genuine 1.25mm polished diamond and is sold in a display box along with a numbered certificate, along with a second stamp depicting the Queen’s father, King George VI.

The special edition was printed by Cartor Security Printing of France, who developed a special technique that would allow the company to affix real diamonds to the stamps.

The Queen’s Diamond Jubilee Accession stamp issue, due out on February 6, features:
•    Limited Edition Souvenir Miniature Sheet with diamond
•    Souvenir Miniature Sheet (without diamond)
•    A se-tenant pair of stamps
•    Sheetlet of four stamps (two sets of se-tenant stamps)
•    First Day Cover envelopes for Souvenir Miniature Sheet and Se-tenant stamps only
•    Presentation Packs for Souvenir Miniature Sheet and Se-tenant stamps only

Oh, and another interesting fact – the name of the designer behind the unique diamond stamp, the only diamond-adorned stamp issued thus far – is Sally Diamond Ferbrache.

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Elizabeth Taylor - the Queen of Diamonds 

By now everyone has heard about the spectacular results in the first day of Christie’s auction of Elizabeth Taylor’s world-renowned diamond collection.

More than a few items carried seven-figure pre-sale estimates, but the bidding went above and beyond for what Christie’s Americas Chairman Mark Porter called “the greatest jewelry collection to be offered in a century.”

The Krupp diamond (All images courtesy of Christie's)

Taylor’s famous Krupp diamond ring, a 33.19-carat bauble that was especially dear to heart because (like so much of her jewelry) it was a gift from Richard Burton, was estimated at $2.5-$3.5 million, but blew way past that, finally being knocked down for over $8.8 million.

La Peregrina (detail) 

But the piece that really made headlines was a pearl – specifically, La Peregrina, a 16th-century pearl set in a diamond and ruby necklace designed by Cartier. Another gift to Taylor from Burton, the necklace was estimated to sell for $2-$3 million, but went for a whopping $11,842,500 – a world record auction price for a pearl.

The Dame earrings by Van Cleef & Arpels 

Other goodies under the hammer ranged from  legendary jewels like the Taj Mahal diamond necklace, another historical piece that was a present from Burton, to modern jewelry like a Lorraine Schwartz yellow diamond ring. A diamond watch (a gift from Taylor’s friend, pop star Michael Jackson) was among the collection auctioned, as were the Van Cleef & Arpels butterfly earrings that Taylor herself designed and wore when she was named a Dame of the British Empire.

The Taj Mahal diamond necklace

The first day of the Elizabeth Taylor jewelry sale has already set a record as the most expensive personal collection of jewels ever put up for auction.  

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