The pandemic blow was felt across industries. However, the colored diamond industry strived due to the secondhand market .
NEW YORK, NEW YORK, USA, September 24, 2021 /EINPresswire.com/ — In 2020, the world was experiencing a catastrophic pandemic, sectors of the economy felt the impact of shutdowns. Many people did not work because of the lockdowns; companies slowed down, some closed, stores were empty due to lack of supplies. The pandemic blow was felt across industries. However, the colored diamond industry strived due to the secondhand market .
Auction houses such as Christie’s experienced high demand for collected colored diamonds at the Geneva auctions. At Bonhams, the fancy pink diamond ring exceeded estimates, and at Sotheby’s a $27 million diamond, The Spirit of the Rose, set records according to Rapaport News.
In November of 2020, “the Christie’s Magnificent Jewels sale in Geneva garnered $36.8 million, with a fancy-purplish-red diamond selling for a record price . At the auction, “a rectangular-cut, 28.88-carat, fancy-vivid-yellow diamond, which sold to an unnamed private buyer for $3.1 million, which was within its expected range. A cushion-shaped, 107.46-carat, fancy-yellow diamond brooch by Graff sold for $3 million to a member of the trade,” according to pundits.
While at the Christie’s Magnificent Jewels sale, the fancy-purplish-red diamond was setting record price, a fancy-pink diamond ring by Meister became a top seller at $1.1 million at the Bonhams London Jewel sale. Joan Collins’ brooch that was designed by Van Cleef & Arpels was sold for $161,892. A sapphire and diamond ring was sold for $189,865, a three-stone diamond ring fetched double estimated price of $132,179.
Like at the Bonhams, Sotheby’s set record sales. Alrosa’s Spirit of the Rose set “the highest price for any purple-pink diamond, selling to an anonymous bidder for nearly $27 million,” according to reports. Other colored diamonds that set records were the oval modified brilliant-cut, 14.83-carat, fancy-vivid-purple-pink, estimated to sell at $23 million, but it sold for a record price of $26.6 million.
The Christie’s, the Bonhams of London, the Sotheby’s of Geneva all set record sales on preowned colored diamonds in 2020. Will this trend continue? The answer to this question is emphatically “Yes.” As people scramble to diversify their investment into colored diamonds, these money making vehicles will become scarce. That is why, before one buys into the diamonds, it is vital to seek expert advice.
Expert Advice and Access to Global Market
To be successful in the diamond market, the investor must have connections. It is important, therefore, for the investor to deal with experts that have access to the diamond global market. Mr. David Metcalfe, President of Premier Diamond Group (North America) Ltd., is an expert with access to the diamond global market. He is “a pioneer in the branding of natural colored diamonds as a hedge against excessive market volatility brought about by speculation and government credit excesses.” For more information, go to http://premierdiamondltd.com/portfolio-protection/.
About Premier Diamond Group (North America) Ltd
Premier Diamond Group specializes in the purchase and sale of natural colored diamonds for wealth accumulation and estate planning purposes and holds membership in the International Colored Gemstone Association and the U.S. Chamber of Commerce. For more information, go to http://premierdiamondltd.com/.
This news release is based on information available to the public. The information and any statistical data contained herein has been obtained from sources we believe reliable, but we do not represent that they are accurate or complete and should not be relied upon as such. The material contained herein is for information purposes only.
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Mr. David Metcalfe
Premier Diamond Group (North America) Ltd
email us here
Source: EIN Presswire