DiamondBuzz
Antwerp secures zero percent U.S. import tariff on natural polished diamonds
Antwerp has secured a zero percent U.S. import tariff on natural polished diamonds of European origin, a move expected to reinforce the city’s status as a global diamond hub.
The exemption, effective retroactively from Sept. 1 under a U.S. executive order, eliminates the standard 15% duty on EU-polished stones. It follows negotiations between the European Commission and Washington that also covered metals, pharmaceuticals and chemicals.
Diamonds polished in Antwerp account for about half of the $2.1 billion in annual polished diamond exports to the U.S. “For goods of European origin polished in Antwerp, the 15% tariff will no longer apply,” said Karen Rentmeesters, CEO of the Antwerp World Diamond Centre.
She added that the decision sets a precedent for other diamond producers and polishing centers to seek similar deals, a potential boon for Belgian diamantaires trading stones polished in India.
The AWDC credited the Belgian government and the European Commission for backing the case, noting that the U.S. market depends entirely on imports to meet demand.
DiamondBuzz
Sotheby’s Withdraws Rare 10-Carat Pink Diamond from Geneva High Jewelry Auction
The $20 million ‘Glowing Rose’ was expected to lead the sale but was removed after discussions with the consignor.
Sotheby’s has withdrawn a rare 10.08-carat fancy-vivid-pink diamond from its High Jewelry auction in Geneva, where it was estimated to fetch around $20 million. The Glowing Rose—a cushion brilliant-cut pink diamond set in a ring—was slated to be the star lot of the November 12 sale but never reached the auction block. The company did not disclose the reason for the withdrawal.
“The Glowing Rose is an absolutely beautiful pink diamond… however, following discussions with the consignor, the lot was withdrawn prior to the sale,” a Sotheby’s spokesperson told. The stone is notable as only the third cushion-cut vivid-pink diamond to appear at auction in the past decade and was showcased in Singapore and Taipei last month in a presentation mount by British jeweler Boodles.
Despite the withdrawal, the High Jewelry sale achieved CHF 29.8 million ($37 million), led by a 4.50-carat fancy-vivid-blue, internally flawless diamond that sold for CHF 4.8 million ($6 million). The event ran parallel to Sotheby’s Royal & Noble Jewels auction in Geneva.
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Sotheby’s Withdraws Rare 10-Carat Pink Diamond from Geneva High Jewelry Auction
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