Red Diamond Hits Record Price
The price of diamonds really came into its own when an extremely rare red diamond hit record price when it was sold at a Christie’s Auction recently in Geneva
The fancy purplish-red diamond, weighing in at 2.26 carats and mounted on a ring, fetched $2.7 million including the buyer’s premium, Christie’s announced. That is $1,180,340 per carat, the highest ever for a red diamond at an auction. The record was previously held by a 0.95-carat gem called the Hancock Red, bought in 1987 for the equivalent of $926,316 per carat. Jeweler Laurence Graff was last night’s buyer, Christie’s said.
British jeweller Laurence Graff bought the ring with the octagonal stone.
“There is a lot more demand than there is supply at the moment on the market, especially in the high qualities,'’ Eric Valdieu, the head of Christie’s jewelry department in Geneva, said before the auction. He went on to say that the red stone, a recent discovery, may have been mined in Australia, which would account for the depth of its color. Very few have come on the market in the past 20 years.
In addition, an emerald and diamond necklace from Princess Katharina Henckel von Donnersmarck sold for $1.9 million (pre-sale estimate $1.3 million;) and a pair of diamond and gold ear clips by Van Cleef & Arpels sold for $1.1 million (pre-sale estimate of $500,000.)
There have been a number of high worth diamonds sold during this past week at auctions and it seems that there is money to be made with diamonds. If you can afford the high prices!