Recent Auctions Underscore Colored Diamond Interest, Notes Toronto's Paragon International




Diamonds – and especially the fancy colored stones – continue to hold investors in thrall, and auction houses are ensuring the fascination endures with sales featuring some stunning selections.
The market for diamonds continues on its upward trajectory," said Michael King, Director of Trading for Paragon International Wealth Management. "And it's not just the beauty and unusualness of many of the offerings that impress us. The prices are also breathtaking."
Toronto-based Paragon International Wealth Management is a leader in acquiring and managing hard investment assets, with a specialty in fancy colored diamonds.
King noted that Sotheby's spring sale this month of Magnificent Jewels and Noble Jewels in Geneva will highlight the most valuable pair of fancy colored diamond earrings ever sold at auction. The rare stones are the 14.54 fancy vivid blue Apollo Blue, estimated at $38 million to $50 million, and the 16-carat Artemis Pink, at $12.5 million to $18 million.
Meanwhile, last month, Christie's New York Magnificent Jewels Sale offered up 332 lots with numerous fancy colored diamonds among the highlights. These included a 3.02-carat fancy intense pink diamond estimated at $1.5 million to $2 million, which is mounted on a platinum and gold ring and flanked by baguette-cut colorless diamonds. A less pricey offer at $300,000 to $500,000 was a 23.56-carat fancy intense yellow diamond set in a platinum and gold ring and covered with colorless and circular-cut yellow diamonds.
King pointed out that auctions like these, with considerable focus on colored diamonds, continue to fuel investors' appetite for such hard investment assets. "Their scarcity is in part what drives their value," he said, noting that colored diamonds generally have appreciated by 142 percent since 2009.
But, it's the rarest pink diamonds that have really soared – by 315 percent, in fact, according to the Fancy Color Research Foundation. It's a fact that was underscored by the recent auctioning of the unique Pink Star diamond for $71.2 million.
As King said: "It all makes for exciting times for those of us who know and appreciate the world of colored diamonds."

Comments

Post a Comment

Popular posts from this blog

Paragon International Wealth Management: Helpful Guidance for Investing in Colored Diamonds

Image
Investing in fancy colored diamonds is an opportunity that investors should consider. In fact, ever since the prices of fancy colored diamonds were first recorded, they have increased in value every year, with colored diamonds surpassing all other hard asset classes for several years now. So, what do you need to know if investing in colored diamonds is a wealth management choice you’re looking to pursue? Traditional diamonds, of course, have a foothold in the engagement ring industry, but what about their gemstone peers? There are several things you should consider when seeking to invest in colored diamonds. 1.      Colored diamonds are a stable investment  Global economic unrest has caused many investors to rethink their portfolio. Diversifying away from traditional investments into more tangible ones, such as colored diamonds, which have shown to increase in value over time, is an attractive option to investors. Colored diamonds are a for...
Read more

Toronto's Paragon International Anticipates Record Pink Diamond price of over $60 Million at Auction

Image
Paragon International Wealth Management Inc.  expects an upcoming April diamond auction to be a landmark event as the most valuable polished diamond in history is set to make an appearance. The diamond auction will take place on  April 4th  at the Sotheby's Hong Kong Magnificent Jewels and Jadeite sale, where "The Pink Star", a 59.60 carat diamond that is estimated to fetch  $60 million , will be presented. The Pink Star was initially mined by De Beers in 1999 in  Botswana . 132.5 carats as a rough diamond, The Pink Star was cut and polished over a period of two years into a remarkably large, oval-cut diamond. The Pink Star is graded as a Type IIa, a rarity for any pink diamond, and is the largest Internally Flawless Fancy Vivid Pink diamond ever graded by the Gemological Institute of America.  This will not be the first time The Pink Star has seen the auction floor. In  November 2013 , The Pink Star was sold ...
Read more

Toronto's Paragon International: "Record Sale of 'Pink Star' Speaks to Strength of Diamond Industry"

Image
One of "the world's great natural treasures," a 59.6-carat pink fancy colored diamond called the 'Pink Star', has sold at a Hong Kong auction for more than $71 million. The plum-sized fancy colored diamond was mined in Africa in 1999 and was bought in what Sotheby's worldwide chairman for international jewelry described as a "historic sale." Bidding for the diamond began at $56 million and lasted just five minutes.  The largest pink fancy colored diamond ever graded by the Gemological Institute of America, the Pink Star's sale shattered the previous record-holding bid for a fancy pink diamond, the 2010 sale of the 24.78-carat "Graff Pink" for $46.2 million. "This record-breaking sale illustrates the burgeoning demand for fancy colored diamonds in a market that is poised to see a surge in interest, even as access to these jewels becomes rare and new supplies dip," said Michael King, director of trading at Parag...
Read more