Beautiful Gems That Can Sell in Any Market Conditions

Finance and Trade
12/11/2015 17:18

There may have been a huge amount of media coverage of the sales at Sotheby’s and Christie’s in Geneva this week which is great for a subdued diamond trade, but do the record-breaking auctions really mean that much, asks analyst Avi Krawitz. Sotheby’s sold a cushion shape, 12.03-carat, fancy vivid blue, IF diamond for $48.5 million, or $4 million per carat, setting a new record for any diamond, or jewel, sold at auction, while Christie’s sold a cushion, 16.08-carat, fancy vivid pink, VVS2 diamond for $28.5 million, or $1.8 million per carat, a world record for a fancy vivid pink diamond sold at auction.

However, not all investment-grade diamonds have enjoyed such appreciation, or even stability, in 2015. Wealth has declined in key markets such as Russia, the Gulf, China and Hong Kong, and that is having an effect on larger stones.